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moneycontrol.com

https://www.moneycontrol.com/news/business/stocks/agri-picks-report-december-30-2024-geojit-financial-services-12899880.html

Agri Picks Report December 30, 2024: Geojit Financial Services

commodities.

Geojit Financial Services's report on Daily Agri Picks The water level in 155 key reservoirs in the country fell to 135.404 billion cubic metres as of Thursday from 139.392 billion cubic metres on Dec. 19, data from the Central Water Commission showed. The current level is 75% of the total live storage capacity of 180.852 billion cubic metres. However, the water level as of Thursday was up 24% from a year ago and was 19% higher than the normal storage for the period, according to the data. The normal storage is the average storage for the preceding 10 years. India received an average rainfall of 3.2 millimetre in the week ended Wednesday, 11% above the normal of 2.9 millimetre for the period, the India Meteorological Department said. Two homogenous regions of the country got higher than normal rainfall, while other two regions got deficient rain during the week, the weather bureau said. Central India received a whopping 487% above normal rainfall during the week at 4.1 millimetre. Odisha received 3,725% above normal rainfall at 26.8 millimetre, while Chhattisgarh got 252% more showers than normal at 2.5 millimetre. South peninsular India recorded 7.4 millimetre of rain, 61% higher than the normal rainfall for the period, the data showed. Rainfall in east and northeast India was down 80% during the week at 0.5 millimetre. Northwest India received 78% below normal rainfall at 0.9 millimetre during the week, the agency said. Of the 36 sub-divisions in the country, rainfall was 'deficient' in six and 'large deficient' in 12 during the week. Rainfall was 'large excess' in seven and 'excess' in two sub-divisions. One sub-division received normal rain and eight sub-divisions received no rain at all during the week. Since Oct. 1, India has received 108.9 millimetre of rainfall, 8% below the normal of 117.9 millimetre for the period. For all commodities report,click here 30122024 - co

2024-12-30 09:33

2024-12-30

09:33

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/brokerages-bullish-on-jsw-energy-shares-amid-o2-power-acquisition-say-deal-unlocks-value-12899836.html

Brokerages bullish on JSW Energy shares amid O2 Power acquisition, say deal unlocks value; stock up 6%

On December 27, JSW Energy's shares on BSE closed 1 percent lower at Rs 629.85 apiece..Related stories.

Shares of JSW Energy surged over 6 percent in trade on December 30, after a wholly-owned subsidiary of the firm JSW Neo Energy signed a definitive agreement to acquire O2 Power, a renewable energy platform jointly established by Swedish asset manager EQT Partners and Singapore’s Temasek Holdings. Brokerages were bullish on this acquisition, as it bolstered the energy player's growth outlook. The transaction values the platform at an enterprise valuation of Rs 12,468 crore ($1.47 billion), after adjusting for net current assets. JSW Energyannounced that O2 Power, a renewable platform with 4,696 MW capacity, will have 2,259 MW operational by June 2025, 1,463 MW under construction, and 974 MW in the pipeline for June 2027. With a Rs 3.37/KWh tariff and 23 years of remaining life, the capacities span seven resource-rich Indian states. This acquisition boosts JSW Energy's locked-in generation capacity by 23 percent to 24,708 MW. At 9.20 am, JSW Energy shares were quoting Rs 663.3, higher by 6 percent compared to the previous session's closing price on the NSE. Brokerages have the acquisition a thumbs up, with global broking house Investec stating that the acquisition is a significant step for JSW Energy as it enhances the company's renewable energy portfolio. Further, it secures future growth, targeting a capacity of 25 GW by FY27/28. The deal might incorporate 2.4 GW of operational assets with a run-rate EBITDA of Rs 1,500 crore. However, Investec maintained its 'hold' rating, and a target price of Rs 675 per share. Follow our live blog to catch all the updates Domestic brokerage Motilal Oswal reiterated its buy call, with a target of Rs 810 share, following the acquisition news. With listed Renewable Energy generation companies currently trading at ~15x EV/EBITDA, the acquisition of 4.7GW high-quality renewable assets at ~7x EV/EBITDA unlocks Rs 57 in value, we estimate," said the brokerage. Motilal Oswal highlighted the strong asset quality, noting:O2 Power's competitive 8.8 percent interest cost matches JSW Energy’s,Receivable days for O2 are 43, lower than JSW Energy’s 68 days,87 percent of the portfolio is backed by utilities like SECI, NTPC, and SJVN, with the rest from highly rated C&I issuers,The portfolio is diversified across solar, wind, and niche segments.On December 27, JSW Energy's shares on BSE closed 1 percent lower at Rs 629.85 apiece. The market capitalisation of the stock is Rs 1.09 lakh crore. Over the past 12 months, the stock has run up 53 percent.

2024-12-30 09:24

2024-12-30

09:24

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/morgan-stanley-initiates-coverage-on-zinka-logistics-with-underperform-tag-sees-16-downside-12899854.html

Morgan Stanley initiates coverage on Zinka Logistics with 'underperform' tag, sees 16% downside

Since its listing, Zinka Logistics Solutions shares have run up over 100 percent..

Global brokerage Morgan Stanley kicked off coverage on recently listed Zinka Logistics Solutions Ltd, giving it an underperform rating with a target price of Rs 450 per share. This indicates a downside potential of around 16 percent from the previous session's closing price. While the brokerage recognizes Zinka's niche position and strong competitive advantages in a fragmented market, it believes the stock's recent rally, which is up 105 percent since its November 2024 listing, makes it less attractive at current levels. At 9.22 am, shares of the firm took a tumble to trade at Rs 525.5 per share, lower by 1.6 percent on the NSE. Zinka Logistics Solutions has carved out a solid place in the logistics space, offering a wide range of services and turning profitable with rapidly improving margins. Morgan Stanley expects the company to maintain a steady adjusted EBITDA margin of 38 percent, with incremental margins stabilizing at 60 percent by FY27. Despite these strengths, the brokerage is cautious about the stock’s valuation. At 34 times FY27 adjusted EBITDA, Zinka is trading at the upper end of its peers, which could limit further upside. Follow our market blog to catch all the live updates Morgan Stanley's outlook suggests that while Zinka has strong fundamentals and growth potential, its current price may already reflect much of that optimism. Investors are advised to take a measured approach, weighing the company's growth story against its premium valuation. Zinka Logistics Solutions, that offers BlackBuck platform for truck operators, raised Rs 1,114.72 crore through its maiden public issue at the upper end of price band of Rs 259-273 per share. The IPO was a mix of fresh issuance of equity shares worth Rs 550 crore, and an offer-for-sale of 2.06 crore shares worth Rs 564.72 crore. Zinka Logistics, through its Blackbuck platform, has established itself as India’s largest digital platform for truck operators, facilitating 413.34 million transactions and capturing 27.52 percent of the truck operator market as of FY24. It addresses core needs of truck operators such as tolling, fueling, fleet tracking, and load matching.

2024-12-30 09:23

2024-12-30

09:23

moneycontrol.com

https://www.moneycontrol.com/news/business/uday-kotak-wants-india-inc-to-go-for-growth-to-fire-up-animal-spirits-in-year-end-musing-12899848.html

Uday Kotak says India Inc must 'go for growth' to fire up animal spirits, in year-end musing

Kotak also took a critical view of protectionism, which seems to be taking center stage in global trade, reminding that while it may offer short-term advantages, it risks making India uncompetitive in the long run..Related stories.

Veteran banker Uday Kotak has asked Indian businesses to unshackle and 'go for growth', in his musings for the new year, shared in a social media post on December 29. Basing his note on 77 years of India's independence, Kotak Mahindra Bank founder shared a set of ten forward-looking priorities to guide for sustainable growth, and to seek global competitiveness. Uday Kotak's blueprint mentions the need for urgent focus on growth, by reigniting enterprise and the entrepreneurial 'animal spirits' to drive innovation and wealth creation. A key principle in this pursuit, one that Kotak mentioned during the CNBC-TV18 Global Leadership Summit, is tomaximize Return on Time Invested (ROTI), an effort to boost productivity across sectors. Kotak also took a critical view of protectionism, which seems to be taking centrestage in global trade, reminding that while it may offer short-term advantages, it risks making India uncompetitive in the long run. He added that there’s a need for a roadmap to eliminate the current account deficit in 'reasonable time', to strengthen India's economic resilience. Read More:After a 'great year' for stocks, here's Uday Kotak advice for investors Kotak's vision also extends to bolstering defense investments, and recognizing that military strength and national security is a 'prerequisite for prosperity'. With the changing global trade and business landscape, a 'gentle and steady fiscal consolidation' is essential to maintain financial stability while driving growth, he said. Read More:Uday Kotak asks if India can weather the 'global shock' of a bigger FPI selloff? Kotak's roadmap also underscores the importance of avoiding over-regulation and micro-management in various sectors. He said a 'zero accident' policy could stifle innovation and growth, and is 'high risk to growth'. Instead, there is a need to 'respect free and fair markets', with government interventions limited only in instances of distortions, like bubbles or manipulations. With a population of 1.4 billion, Kotak said India must let 'many flowers bloom', to foster innovation and creativity. Finally, Kotak underscored the need to work toward eliminating India's infamous status as home to some of world’s most polluted cities, and 'walk the talk' on sustainability.

2024-12-30 08:45

2024-12-30

08:45

moneycontrol.com

https://www.moneycontrol.com/news/business/banks/banking-central-nbfcs-may-have-to-live-with-slower-growth-in-new-year-12899833.html

Banking Central | NBFCs may have to live with slower growth in new year

NBFCs saw a series of regulatory actions in 2024.Related stories.

Going by what most analysts predict, 2025 will be a year of slow growth for non-bank lenders. It won't be a surprise, though, given the stress developed in certain pockets through the past two years that prompted the central bank to put a leash on erring NBFCs. The Reserve Bank of India (RBI) was particularly concerned about stress developed in the personal loan segment over 2023 and 2024. It also warned microlenders operating as non-bank financiers of cracks showing up in their books. A boom in unsecured personal loans, which typically constitute a significant chunk of NBFCs in the form of pure play personal loans, and consumer loans had set off the alarm, pushing the banking regulator to raise the risk weight on such loans in late 2023. The growth decelerated immediately and it sustained as the industry stayed cautious through 2024. This slowed down the overall momentum of the industry. According to AM Karthik, senior vice-president and co-head of the group for financial sector ratings at ICRA Limited, the overall NBFC growth is likely to moderate to 13-15 percent in FY2025 from 18 percent a year back, with the decline in growth largely driven by lower growth in the retail loan segment, especially unsecured loans. The retail loan growth too may ease out to 16-18 percent from 25 percent in this period, with unsecured loan growth expected to nearly halve from the 36 percent.“Growth shall remain moderate in FY2026, given the asset quality related headwinds, and various regulatory tightening seen in the recent past,” Karthik said. What happens when credit growth slows? Some borrowers, especially those leveraged at a steeper pace in the last few fiscals, face cash-flow stress, and the spill-over impact of the stress that's more visible in unsecured loans compared to the secured loans continues to be a significant monitorable for the near term. All this will translate into a dent in profitability for the non-bank lenders. But that's not the end of woes for the lenders. The non-bank financiers stare at bank fundings drying up. In an earlier piece, I had written how banks were shying away from lending to NBFCs in a stricter regulatory regime. Going by the RBI sectoral credit growth data, bank credit to NBFCs contracted 1.2 percent till July. On a year-on-year basis, bank credit to the segment grew slower at 12.7 percent in the 12 months ended July, compared with nearly 20 percent growth in the previous comparable period. In absolute terms, as against a total loan outstanding of Rs 15.2 lakh crore as on July 26, 2024, total bank loan outstanding to the NBFCs was Rs 15.5 lakh crore in end-March 2024. This means banks are now very selective in funding NBFCs. Only top-rated NBFCs get loans at relatively lower rates. Firms rated 'AA' and below are struggling to access bank credit. Those rated higher are taking away 90 percent of bank credit. As the smaller NBFCs fail to raise money from the bond market at attractive rates, they are left with only two options - either shrink their credit growth or borrow at a higher rate from banks. But neither typically augurs well for the shadow banks. Shrinking the loan book will mean a hit on profitability and loss in customers. Borrowing in higher rates, on the other hand, will translate into charging a higher interest from the end-user and consequently raising the repayment pressure on the borrower. This will reflect on the asset quality of the NBFC sooner than later. Though narrower margins and slower growth may not enthuse investors, a period of deceleration is still better for the companies than zipping at an aggressive growth that would eventually backfire on them. (Banking Central is a weekly column that keeps a close watch on and connects the dots regarding the sector's most important events for readers.)

2024-12-30 08:44

2024-12-30

08:44

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/even-while-on-regulatory-radar-bse-sme-ipo-index-surge-far-outpaces-all-other-benchmarks-globally-12899844.html

Even while on regulatory radar, BSE SME IPO index surge far outpaces all other benchmarks globally

Precious metals like gold and silver gained 27 percent and 19 percent, respectively while platinum and crude oil dipped 10 percent and 4 percent, respectively..Related stories.

Even as the SME IPO segment remained under the regulatory scanner in the recent past, the BSE SME IPO index surged significantly during the year and outpaced almost all the other benchmarks globally and domestically and even across asset classes including commodities like gold, silver and crude. The BSE SME IPO index gained a huge 135 percent during 2024 and even overshadowed the gain in Bitcoin that grabbed many headlines in the recent past. The Bloomberg Bitcoin Index surged nearly 121 percent during the year. Meanwhile, among global equity benchmarks, Nasdaq gained 31 percent while the S&P 500 rose 25 percent, and the Dow Jones advanced 14 percent during 2024. In Europe, Germany’s DAX increased 13 percent, while the FTSE 100 gained 7 percent, and France’s CAC 40 declined 8 percent. In Asia, Hong Kong’s Hang Seng climbed 18.6 percent, the CSI 300 advanced 13 percent, and Japan’s Nikkei rose 7.5 percent. While South Korea’s Kospi dropped 21 percent, and Indonesia’s Jakarta Composite Index declined 8 percent, some of the other but lesser-tracked markets like Pakistan and Sri Lanka registered notable gains of 80 percent and 62 percent, respectively. In India, the S&P BSE Sensex and Nifty 50 recorded modest gains of 6 percent each, while the BSE MidCap and BSE SmallCap indices outperformed significantly, rising 23 percent and 26 percent, respectively. In the commodities space, precious metals delivered mixed results though remained well below the BSE SME IPO index in terms of returns. Precious metals like gold and silver gained 27 percent and 19 percent, respectively while platinum and crude oil dipped 10 percent and 4 percent, respectively. Analysts attribute the exceptional rally in the BSE SME IPO Index to strong retail participation, with several IPOs being oversubscribed in multiples of hundred times, reflecting robust investor appetite driven by abundant liquidity and a fear of missing out on potential gains. A tightened regulatory framework has further enhanced governance and transparency, boosting investor confidence, they say while adding that stricter eligibility criteria have ensured that only well-managed SMEs access public markets, improving the overall quality of offerings. They further highlight the fact that the surge in SME stocks is not isolated, as small-cap, micro-cap stocks, and cryptocurrencies have also rallied, signalling a resurgence in risk appetite among investors. They say that despite geopolitical tensions and restrained expectations of rate cuts by global central banks, market participants have maintained a strong appetite for risk, as reflected in the stellar performance of the BSE SME IPO Index and Bitcoin in 2024. Looking ahead, Mukul Goyal, Co-Founder of Stratefix Consulting, forecasts sustained growth in the SME IPO segment in 2025. He says that more businesses are recognising the advantages of public funding, but stresses the importance of maintaining quality as interest surges. “Companies must prioritise sustainable growth and effective fund utilisation to deliver long-term value to investors,” says Goyal. The outlook for 2025 remains positive, provided both issuers and investors exercise discipline to navigate this evolving and dynamic market landscape, he added.

2024-12-30 08:37

2024-12-30

08:37

moneycontrol.com

https://www.moneycontrol.com/news/podcast/will-markets-see-green-in-the-last-trading-days-of-2024-flurry-of-listings-jsw-energy-in-focus-market-minutes-12899841.html

Will markets see green in the last trading days of 2024? Flurry of listings, JSW Energy in focus | Market Minutes

2024-12-30 08:36

2024-12-30

08:36

moneycontrol.com

https://www.moneycontrol.com/technology/wordle-december-31-2024-today-s-puzzle-hints-and-answer-article-12899835.html

Wordle December 31, 2024: Today’s puzzle hints and answer

Wordle.

Wordle, the daily word puzzle that has captured millions of fans worldwide, challenges players to guess a five-letter word in six attempts. Developed by Josh Wardle, the game’s simplicity and engaging format make it a favourite brain teaser. Feedback on each guess is provided via coloured tiles: green for correct letters in the right spot, yellow for correct letters in the wrong spot, and grey for letters not in the word. Today’s Wordle puzzle has proven tricky for many, but if you’re looking for clues or the solution, we’ve got everything you need to crack it. How to play Wordle You can play Wordle online through the New York Times Games website. The rules are simple:• Guess the five-letter word in six tries.• Letters guessed correctly and in the right position turn green.• Letters in the word but misplaced turn yellow.• Letters not in the word turn grey. Wordle answers are never plural, but letters can repeat within a word. Hints for December 30, 20241. Today’s word is a noun.2. It has two vowels.3. It begins with the letter ‘S.’4. No letters are repeated.5. It relates to looking or glancing. Wordle Answer The Wordle solution for December 30, 2024, is STARE.

2024-12-30 08:29

2024-12-30

08:29

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/moneycontrol-pro-market-outlook-holiday-season-expected-to-keep-markets-subdued-12899682.html

Moneycontrol Pro Market Outlook | Holiday season expected to keep markets subdued

Weekly momentum indicators remain in sell mode..Related stories.

Dear Reader, Indian markets experienced a narrow trading range for most of the truncated week, with a gap opening on Friday. The BSE Sensex concluded the week with a gain of 0.84%, while the Nifty50 rose by 0.95%. The rally on Friday was primarily driven by gains in the Nifty Auto and Pharma sectors, supported by contributions from FMCG, Banking, and Realty stocks. Despite the lackluster week, Foreign Institutional Investors (FIIs) continued to sell off shares in the Indian market, with total sales amounting to ₹6,322.88 crore for the week, bringing their monthly sales to ₹10,444.10 crore. FIIs have been withdrawing funds as the yield on 10-year US Treasury bonds increased, reaching a high of 4.641% during the week. In the US markets, the Dow Jones closed slightly higher by 0.35%, while the Nasdaq performed better with a 0.76% increase. European markets showed stronger performance, with the STOXX 600 gaining 0.99%. Among leading indices, CAC 40 rose by 1.11%, and DAX increased by 0.50%. The week began with US President-elect Donald Trump suggesting on social media "make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!" Japan's Nikkei 225 experienced a robust rally, gaining 4.08%, fuelled by a weakening yen that hovered near five-month lows at 157 against the dollar. The Bank of Japan's governor indicated that interest rates may need to rise if economic conditions improve as anticipated, contributing to market optimism. With the consumer price index (CPI) rising to 3%, surpassing expectations of 2.6%, traders are bracing for a potential rate hike sooner than expected. Chinese stocks also saw positive movement, rising by 0.95%, while the Hang Seng index gained 1.87%. Chinese officials plan to stimulate their economy by issuing a record RMB 3 trillion in special Treasury bonds next year, significantly higher than the RMB 1 trillion issued in 2024. As the holiday season continues, Indian markets are expected to remain subdued with a slight negative bias in outlook. Stocks can fall further The Nifty experienced a modest bounce this week, recovering slightly above the 40-week moving average. However, this small rebound indicates a lack of sufficient buying power to propel the index to higher levels. Weekly momentum indicators remain in sell mode, suggesting that we may see further declines in the market, especially as the volatility bands on weekly charts are expanding. This period has been characterised by a slow decline, with low trading volumes contributing to continuous selling in individual stocks. Additionally, several seasonal patterns appear to be shifting earlier than expected. The pharma sector stood out as the only area of resilience this week. The daily swing indicator has bounced back from an oversold reading of 5 to 41, providing some relief and creating the potential for the Nifty to move lower. Although the average swing has only increased to 11, it is notable that it remains above 10. Typically, this would suggest that an important market bottom is near; however, in a bear market, the opposite can occur. Markets can continue to decline even when they are in oversold conditions. Source:web.strike.money The net position in index futures held by Foreign Institutional Investors (FIIs) has seen a significant increase in their short positions, rising from -37,000 contracts to -174,000 contracts. This substantial shift is moving the position closer to the extreme levels observed three times in the past two years. The dotted line at the bottom indicates -340,000 contracts, and readings below this level reflect an extreme bearish sentiment among traders and investors. Typically, when pessimism reaches its peak, it signals that a downtrend may be nearing its end; however, we are not yet at that point. There remains considerable room for FIIs to increase their short positions further. Source:web.strike.money The volume of Puts to Calls has started to rise, but when the ratio is above 0.8, we can say that everyone is bearish and the trend is about to change. The reading is rising from 0.66 and is near 0.7. We need patience to see this play out. Source:web.strike.money Sector Rotation This week, the Nifty remained largely flat, failing to achieve even a full 1% gain from the previous week's close. Most indices stayed within the same quadrants as last week, except the Nifty Private Bank, which moved into the "Leading" quadrant from the "Improving" quadrant. RRG WeeklySource:web.strike.money On the daily time frame, the Nifty Pharma, Healthcare Index, and Nifty India Consumption indices outperformed the Nifty, gaining momentum to enter the Leading Quadrant. The Nifty FMCG index is also moving towards the Leading Quadrant, attempting to catch up with these sectors. In contrast, the Nifty IT, Nifty Consumer Durables, and Nifty Realty indices experienced a loss of momentum and have transitioned from the Leading Quadrant to the Weakening Quadrant. The Nifty Metal index underperformed compared to the benchmark Nifty 50 and quickly fell into the Lagging Quadrant, along with the Nifty PSU Bank, exhibiting a short-term bearish trend. Defensive sectors have outperformed in this uncertain market environment, where the Nifty formed Doji candlesticks on all four trading days. This is evident from the movement of the FMCG, Pharma, and Healthcare indices into the Leading Quadrant. Source:web.strike.money Stocks to watch Among the stocks expected to perform better during the week are Laurus Labs, Dr Reddy, Coromandel, OFSS, Indian Hotel, Wipro, Naukri, Coforge, Lupin and Muthoot. Among the stocks that can witness further weakness are IRCTC, Asian Paint, Nestle, Berger Paint, Reliance, Aarti Industries, Bandhan Bank, India Mart and Britannia. Cheers,Shishir Asthana

2024-12-30 08:11

2024-12-30

08:11

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/here-are-the-top-global-cues-for-today-s-trade-first-tick-3-12899783.html

Here are the top global cues for today’s trade - First Tick

Market Today.Related stories.

Indian benchmark indices Sensex and Nifty 50 are likely to open on muted note on December 30, tracking cues from GIFT Nifty trading around 23,985.50, a short while ago this morning. Track the latest updates onGIFT Nifty right here onMoneycontrol. Indian markets ended higher on December 27, driven by gains in Asian equities. The Sensex advanced 226.59 points or 0.29 percent to close at 78,699.07, while the Nifty rose 63.20 points or 0.27 percent to settle at 23,813.4. Here is how financial markets across the globe fared overnight: GIFT Nifty (Up) The GIFT Nifty is trading slightly higher, indicating a muted start for the day. Nifty futures were trading at 23,988.50, up 26 points or 0.1 percent from Friday's closing price at 07:27 am IST. Asian Equities (Up) Asia-Pacific markets reversed early losses on the penultimate trading day of the year. Markets across South Korea opened lower but managed to recoup the fall and swing back into the green. While most markets in the region traded in the green, those in Japan were the laggards.Change From Previous Close (%)1 Month (%)YTD (%)Shanghai Composite0.23.015.1Nikkei-0.64.920.2Hang Seng0.22.719.9Taiwan0.24.530.4Kospi0.7-3.3-9.3US Equities (Down) In the US, Wall Street closed Friday with losses as tech stocks sold off. The Dow Jones, S&P 500, and Nasdaq Composite slipped between 0.8% and 1.5%. Despite the day’s losses, all three indices posted weekly gains of up to 0.8%.Change From Previous Close (%)1 Month (%)YTD (%)Dow Jones Industrial Average-0.8-4.3114.03S&P 500-1.1-1.0225.18Nasdaq Composite-1.52.6031.35US Bond Yield (Flat) The US 10-Year Treasury was down 1 basis points to 4.63 percent, while the 2-Year Treasury was down 4 basis points to 4.33 percent, in the early Monday trade.Current Price1 Month (%)YTD (%)US 10-Year Treasury4.6310.619.7US 2-Year Treasury4.3313.87.6Dollar Index (Flat) The dollar index was steady against the other major currencies in the early Monday trade.Current Price1 Month (%)YTD (%)Dollar index107.981.56.6Asian currencies (Mixed) Asian currencies were trading mixed against the US dollar in the early Monday trade.Change from previous close (%)1 Month (%)YTD (%)Indonesian Rupiah-0.4- 0.5-0.4South Korean Won0.001-0.1-0.3Japanese Yen-0.08-0.05-0.1Philippines Peso---Thai Baht-0.020-0.3Taiwan Dollar-0.04-0.8-6.4China RenminbiFlat0.0020.004Malaysian Ringgit-0.005-0.0040.001Singapore DollarFlat-0.0020.002Crude (Flat) Oil prices were largely steady in early trading. Brent crude futures and U.S. West Texas Intermediate crude were both trading flat.Change From Previous Close (%)1 Month (%)YTD (%)US West Texas70.672.5-1.3Brent Crude73.681.1-4.2Gold (Flat) Gold was steady in quiet, post-holiday trading, after mixed jobless claims data in the US did little to alter bets on the outlook for Federal Reserve interest rate cuts.Change From Previous Close (%)1 Month (%)YTD (%)Gold0.010.1920.95Silver0.010.2820.16Fund Flow Action Foreign institutional investors (FIIs) extended their selling on December 27 as they net offloaded equities worth Rs 1,323 crore, while domestic institutional investors extended their buying as they bought equities worth Rs 2,544 crore on the same day.December 27 (Rs cr)MTD (Rs cr)YTD (Rs cr)FII Net Flows-1,323-10,444.10-3.01 lakhDII Net Flows2,54427,474.145.01 lakhHope you're all set for today's trade, we wish you a profitable day ahead.

2024-12-30 08:11

2024-12-30

08:11

moneycontrol.com

https://www.moneycontrol.com/news/opinion/jobs-conundrum-in-a-red-hot-economy-12899750.html

Jobs conundrum in a red-hot economy

The majority of new jobs were created in agriculture and construction..Related stories.

By Balwant Singh Mehta India has achieved an impressive GDP growth rate of around 8 percent over the past three years, making it one of the fastest-growing major economies in the world. However, alongside this rapid economic expansion, the country continues to face serious challenges in generating stable and formal employment. This mismatch between economic growth and job creation raises important questions about how effectively India’s economic success benefits its workforce. A spurt in jobs, but their quality is an issue A key metric to evaluate the link between economic growth and job creation is employment elasticity, which measures how much employment increases for every 1 percent rise in GDP. Over the years, India’s employment elasticity has varied significantly, from 0.34 between 1983 and 2000 to 0.25 during 2000-2012, dropping to nearly zero between 2012 and 2018. Encouragingly, it rose to 1.1 during 2018-2024, the highest in four decades. This means that for every 1 percent growth in GDP, employment grew by 1.1 percent, resulting in the creation of 165 million jobs during this period, with 75 million added in the last three years alone. While these figures seem promising, they are hard to reconcile with the broader economic challenges posed by the global slowdown and disruptions caused by the COVID-19 pandemic. This has sparked a debate among various critics, highlighting that the pressing concerns about the types or quality of job being created in India in recent years. Quality of jobs, characterised by fair wages, job security, and high productivity, which are vital for a healthy labour market. On the other hand, low-quality employment—often referred to as "distress employment"—reflects economic necessity rather than genuine opportunities. Analysing key indicators such as employment status, earnings, structural transformation, and labour productivity helps shed light on these emerging challenges. Formal employment takes a hit in the post-Covid phase The status of employment reveals concerning trends. Regular salaried jobs, considered the most desirable form of work due to their job security and benefits, declined from 23 percent in 2018 to 21.2 percent in 2021 and have since remained stagnant. Conversely, self-employment rose consistently, from 52.3 percent in 2018 to 58.4 percent in 2024. Among these, the most concerning is the increase in unpaid family helpers—a vulnerable form of employment where individuals do not receive any income, which grew from 13.5 percent to 19.3 percent during this period. This shift underscores the growing difficulty of securing stable, formal employment in the economy. Earnings trend downwards Earnings data further highlight the precarious nature of jobs being created, with lower pay being a steady trend. Between 2018 and 2024, real average monthly earnings declined consistently for both regular salaried workers (from Rs 10,658 to Rs 10,341) and self-employed individuals (from Rs 6,897 to Rs 6,644). This trend indicates rising underemployment, where people have jobs but earn less to maintain a decent standard of living. Such declining and low-paying jobs fail to provide financial stability or improve workers’ quality of life. Another worrying development is the reversal of structural transformation in India’s labour market. Typically, as economies grow, workers transition from low-productivity sectors like agriculture to higher-productivity sectors such as manufacturing and services. However, between 2018 and 2024, the majority of new jobs were created in agriculture and construction—sectors with low productivity. The share of agricultural employment increased from 42.4 percent in 2019 to 46 percent in 2024, reversing a decades-long structural transformation in the economy. At the same time, manufacturing, a sector known for higher wages and productivity, saw its employment share fall from 12 percent to 11.4 percent. Additionally, informal sector employment rose from 80.5 percent to 82.9 percent, highlighting limited progress toward formalisation and meaningful structural transformation. Labour productivity, measured as Gross Value Added (GVA) per worker, further illustrates the complex employment challenges. In 2024, labour productivity levels in agriculture (Rs 40,000) and construction (Rs 194,000) were significantly lower compared to manufacturing ( Rs 383,000) and services (Rs 470,000). This growing reliance of employment on low-productivity sectors makes it difficult to raise workers’ living standards or contribute meaningfully to long-term economic growth. Jobs that only ensure subsistence will fail to drive India’s economic aspirations. This analysis shows that while India’s impressive economic growth demonstrates its immense potential, the persistent challenges of quality employment in the labour market highlight the need for urgent policy attention. Possible solutions First, the government needs to prioritise the employment growth in modern manufacturing and services, as these sectors offer better wages, higher productivity, and job security. Policies that promote investment, simplify regulations, and enhance infrastructure are essential to unlocking their full potential. Second, there is an urgent need to upgrade workforce skills to meet the demands of emerging industries. Expanding initiatives like Skill India and aligning them with industry needs can help workers transition to more productive sectors. Third, formal sector employment must be encouraged by providing incentives for businesses to shift from the informal to the formal economy. Simplifying tax systems, streamlining compliance requirements, and introducing supportive labour laws can promote this transition. Fourth, increasing women’s participation in the workforce is essential for inclusive growth. Addressing barriers such as inadequate childcare, unsafe workplaces, and restrictive societal norms can enable more women to take up formal, productive jobs in manufacturing and services. This not only enhance economic growth but also ensures equitable development.  Lastly, strengthening social safety nets is essential to supporting workers in informal and emerging gig economy. These efforts will be instrumental in generating full, productive, and decent employment while fostering sustained and inclusive economic growth, as envisioned in SDG Goal 8, thereby enhancing the well-being of people for generations to come. (The author is ‘Professor’ at Institute for Human Development (IHD), New Delhi.) Views are personal and do not represent the stand of this publication.

2024-12-30 08:02

2024-12-30

08:02

moneycontrol.com

https://www.moneycontrol.com/technology/upi-likely-to-cross-171-billion-transactions-in-2024-grows-45-over-last-year-article-12898921.html

UPI likely to cross 171 billion transactions in 2024, grows 45% over last year

UPI in 2024.Related stories.

Unified Payments Interface (UPI) is likely to cross 171 billion transactions in 2024, a 45 percent growth compared to the previous year, a substantial rate of growth considering the high base. The platform recorded around 117 billion transactions during 2023, according to data from the National Payments Corporation of India, which runs UPI. The value of transactions also will likely see a 34 percent growth to Rs 245 lakh crore in 2024, compared to Rs 183 lakh crore, the platform recorded in 2023. To be sure, the growth rate and the full-year numbers are based on extrapolation of the daily and monthly numbers that UPI records on an average, albeit based on a conservative estimate of the remaining few days of December. UPI 2024 The platform clocks around 16 billion transactions in a month on average while the value is around Rs 22 lakh crore. However, this is growing every quarter and goes up depending on festival spending and other online and offline sale events. UPI is the country’s most popular real-time payments platform, facilitating almost 85 percent of all digital payments. New players emerge While PhonePe and Google Pay continued to dominate with close to 85 percent market share, new players such as Sachin Bansal-backed Navi, Flipkart Group’s super.money and Fampay registered good month-on-month growth. In 2024 alone, 20 companies received third-party application provider (TPAP) approval from NPCI, which is required to provide customers with UPI services. According to the NPCI website, 40 firms have received TPAP approval since 2016. Navi is now the fourth largest surpassing Kunal Shah-led CRED, which managed to maintain its market share. While these apps made a mark, NPCI is still struggling to shake off the stronghold of the top two apps. The push into this space has been also driven by the NPCI’s desire to see the UPI platform being deleveraged from the hold of PhonePe and Google Pay in the ecosystem. Unfortunately, NPCI was thrown another curveball when the regulator restricted some of Paytm’s banking activities, which saw its market share dropping from 11 per cent to 7 percent this year. According to the NPCI rule issued in early 2021, no UPI app should have more than 30 percent of the UPI payments market. The organisation is likely to be forced to extend the deadline by two years, yet again.

2024-12-30 08:01

2024-12-30

08:01

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/gujarat-fluorochemicals-says-four-dead-work-at-dahej-plant-temporarily-disrupted-after-incident-12899839.html

Gujarat Fluorochemicals says four dead, work at Dahej plant temporarily disrupted after 'incident'

The mishap took place at the CMS-1 plant in Dahej, Gujarat, and was immediately isolated but the operations have been temporarily disrupted..

An incident of leak at Gujarat Fluorochemicals' Dahej plant on December 28 has resulted in four deaths, involving one employee and three contractual workers, the company said in a statement. The mishap took place at the CMS-1 plant in Dahej, Gujarat, and was immediately isolated but the operations have been temporarily disrupted, said the company. "The incident happened on 28th December 2024, around 8 pm, which was immediately detected and contained by the team. However, individuals in the windward direction experienced adverse health effects who were promptly given due primary treatment at our onsite Occupational Health Center (OHC) and were referred to Bharuch Hospital for advanced medical care for advance treatment. Unfortunately, despite all our efforts, the four individuals succumbed to the complications," the statement on December 29 said. The management said it has taken immediate steps to support the bereaved families with an ex-gratia amount of Rs 30 lakhs, along with full settlement of statutory dues, insurance benefits, and pending salaries. The company said it is also offering employment to deceased employee's ward and sponsoring education. This is being updated

2024-12-30 08:01

2024-12-30

08:01

moneycontrol.com

https://www.moneycontrol.com/technology/nintendo-switch-2-console-details-leaked-here-s-everything-that-s-set-to-change-article-12899831.html

Nintendo Switch 2 console details leaked: Here’s everything that’s set to change

Switch.

The world has been waiting to see the next-generation Nintendo Switch gaming console likely to be called Switch 2. Thankfully, a recent leak about it has surfaced online, revealing its images and some important details. The source of the leaks, a Reddit user named NextHandheld, has been consistently sharing alleged information and photos of the console since December 2024, claiming to reveal both the handheld device and its dock. What’s changingAmong the notable details in the leaked images are the use of tri-wing screws, a hardware element seen in earlier Nintendo devices like the Switch and Wii U. Additionally, the dimensions of the purported console appear to align with previously leaked measurements, lending further credibility to the claims. While the dock images are blurry, they include regulatory markings typical of consumer electronics. These developments fuel speculation that the Switch 2 is already in mass production, with a launch possibly on the horizon in Q2 2025. Nintendo has previously indicated plans to unveil its next console before March 31, aligning with the timeframe suggested by the leaks. If true, the Switch 2 could bring many changes to Nintendo’s console lineup. However, the company has yet to officially confirm any details about the device. Until an official announcement is made, fans are left to interpret these leaks and anticipate what the next generation of Nintendo gaming might entail.

2024-12-30 08:00

2024-12-30

08:00

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/world-street-openai-plans-for-profit-shift-jeju-air-shares-plunge-after-crash-trump-challenges-tiktok-ban-and-more-12899832.html

World Street | OpenAI plans for-profit shift, Jeju Air shares plunge after crash, Trump challenges TikTok ban, and more

World Street.Related stories.

OpenAI plans to restructure for-profit operations, Jeju Air's stock plunge after a deadly crash, Donald Trump’s Supreme Court appeal on the TikTok ban, and a looming U.S. debt ceiling crisis. All this and more on the December 30 edition of World Street. Jimmy Carter Dies at 100Former U.S. President Jimmy Carter, aged 100, has passed away, the Carter Center announced Sunday. Carter, who had been in hospice care since February 2023 at his home in Plains, Georgia, died peacefully, surrounded by family. The Nobel laureate, known for his humble beginnings and leadership from 1977 to 1981, spent his later years advocating for global peace and human rights. OpenAI Plans for a For-Profit Shift in 2025OpenAI revealed plans to transition into a public benefit corporation by 2025, enabling more flexible funding and operations. The company stated it needs significant capital to maintain its mission as AI development costs soar. Investors have expressed interest, but OpenAI says conventional equity is essential to meet the scale of financing required. Jeju Air Shares Hit Record LowJeju Air shares fell 8.4 percent on Monday, hitting a record low of 6,920 won after a deadly crash at Muan International Airport killed 179 people. Earlier in the session, the stock plunged 15.7 percent. Shares of its parent company, AK Holdings, also dropped 12 percent, reaching their lowest level in 16 years. This was thebudgetairline's first fatal accident since its founding in 2005. Trump Asks SC to Delay TikTok BanDonald Trump has requested the U.S. Supreme Court to pause a law set to ban TikTok or force its sale, arguing for time to pursue a political solution after taking office. ByteDance, TikTok's Chinese owner, must sell the app to a U.S. company by Jan. 19 or face a ban. With over 170 million U.S. users, TikTok is seeking to overturn the law before its deadline. U.S. Debt Ceiling Could Be Reached by Jan. 14Treasury Secretary Janet Yellen warned that the U.S. could hit its debt ceiling as early as Jan. 14. In a letter to lawmakers, Yellen urged swift action to maintain the nation’s credit. She noted a $54 billion reduction in debt on Jan. 2 due to Medicare-related securities redemption, but extraordinary measures may still be needed between Jan. 14 and Jan. 23 to avoid default.

2024-12-30 07:47

2024-12-30

07:47

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/zepto-vp-jitendra-bagga-quits-in-second-high-level-departure-12899779.html

Zepto VP Jitendra Bagga quits in second high-level departure

Bagga and CHRO Martin Dinesh Gomez now join a growing list of senior executives who have left Zepto since the start of the year..Related stories.

Jitendra Bagga has quit as the vice-president of central operations at Zepto after spending nine months with the quick commerce unicorn, sources toldMoneycontrol. Bagga was heading mother hubs (MH) and line haul (LH) projects, part of the warehousing division, for the company. Warehousing, MH and LH are key functions for Zepto, especially because the company is on a massive expansion drive. Around the beginning of the year, the firm had around 300 dark stores but the count has now increased to over 750 as Zepto looks to have an edge over its peers and outgrow rivals such as Swiggy Instamart, Blinkit, Flipkart Minutes, and Tata BigBasket. Prior to joining Zepto in April, Bagga had spent three years at Raymond Limited and over 24 years at Reliance Retail. In his career, spanning over 27 years, he has always dabbled in the field of supply chain and other related areas that involve skills crucial for Zepto and its future plans. It is not immediately clear who would replace Bagga in Zepto but it is likely to be an internal candidate as the company is going slow on external hiring at the moment, one of the sources cited above toldMoneycontrol. Zepto did not respond toMoneycontrol’srequest for comments. Other exitsBagga is the second top-level exit at Zepto in recent months. On December 10,Moneycontrolreported thatZepto’s chief human resource officer (CHRO) Martin Dinesh Gomez had quit after an 11-month stint at the company. Both Gomez and Bagga exited Zepto at a time when the companyis preparing to move its headquarters, and relocate employees, from Mumbai to Bengaluru, as was first reported byMoneycontrolin August. Bagga and Gomez joined a growing list of senior executives who have left Zepto since the start of the year. Viral Jhaveri, former chief business officer/chief growth officer, Ashish Shah, senior vice-president of finance, Manik Oberoi, vice-president of growth and retention - all have quit the company in 2024,Moneycontrolhad reported earlier. These developments come ahead of Zepto’s planned public market debut in 2025. The company has picked bankers such asGoldman Sachs, Morgan Stanley and Axis Capital for its IPO.Moneycontrolwas the first to report this.The company has also been increasing its domestic shareholding, and reducing the stake of foreign investors as it gears up for the $500-million-plus IPO.

2024-12-30 07:40

2024-12-30

07:40

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/mahindra-sets-sight-on-renewable-power-forms-ultrogen-hybren-to-focus-on-green-energy-and-storage-systems-12899828.html

Mahindra sets sight on renewable power, forms Ultrogen Hybren to focus on green energy and storage systems

Ultrogen Hybren aims to generate and sell electricity through renewable sources in Mumbai, including rooftop solar installations, Mahindra and Mahindra said in a company filing..

Automotive major Mahindra has set up a new, renewable energy company in Mumbai- Ultrogen Hybren - to generate and sell electricity through renewable sources, including rooftop solar installations, Mahindra and Mahindra said in a company filing. Ultrogen Hybren will be a subsidiary of Mahindra Susten, a subsidiary of Mahindra Holdings (MHL), the company informed through an exchange filing on December 29. The company will aspire to be an Independent Power Producer (IPP). The new subsidiary will be in the business of production and sale of power and generating electricity, including through rooftop solar installations, for commercial and residential use. "Ultrogen Hybren has been incorporated for production and sale of Power and Generating Electricity, Independent Power Producer (IPP), Distributed Energy including rooftop solar installation for commercial, industrial, institutional and residential segment, through various renewable energy sources and energy storage systems etc,"M&Msaid the statement. This move aligns with Mahindra Group's plans to expand presence in the renewable energy sector. This is being updated.

2024-12-30 07:39

2024-12-30

07:39

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/brokerage-radar-morgan-stanley-has-underperform-on-zinka-logistics-investec-bullish-on-kfin-tech-12899825.html

Brokerage Radar | Morgan Stanley has 'Underperform' on Zinka Logistics, Investec bullish on KFin Tech

Brokerage Radar.Related stories.

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes JSW Energy, IPCA Labs, Jyoti CNC Automation and more. JPMorgan On Chola InvstOverweight Call, Target At Rs 1,550/ShRecent Correction Offers A Favorable Long-term Risk RewardCo Has Delivered Steady Long Cycle Growth Through DiversificationPan-India Presence Alongside Diversified Product Suite To Deliver Steady Earnings CompoundingEst A 26% FY25-27 EPS CAGR Against Which The Valuations At 19x FY26 P/E Appear Reasonable Investec On JSW EnergyHold Call, Target At Rs 675/ShAcquisition Of O2 Power Is A Significant Step As It Enhances Its Renewable Energy PortfolioThe Recent Acquisition Secures Future Growth, Targeting A Capacity Of 25 GW By FY27/28Deal May Incorporate 2.4 GW Of Operational Assets With A Run-Rate EBITDA Of `1,500 Cr MOSL On JSW EnergyBuy Call, Target At Rs 810/ShO2 Power Acquisition Unlocks ValueAcquisition Of 4.7 GW Renewable Assets At 7x EV/EBITDA Unlocks `57/Sh In ValueLike Overall Quality Of AssetsInterest Cost For O2 Power At 8.8% Is Competitive And At Par With Co ItselfLike Diverse Nature Of Asset Portfolio Encompassing Solar, Wind, & Niche Segments MOSL On Ipca LabsBuy Call, Target At Rs 1,980/ShCo Is Well-Poised To Revive Its US Business Through New Product Launches & Stable PricingBusiness Is In A Strong Position, With A Better OutlookThere Are Enhanced Offerings In The Export Markets Such As Australia, New Zealand & EuropeCo’s Top 10 Therapies Experiencing Double-digit Growth Over MAT Nov’20-24 MOSL On KEI IndBuy Call, Target At Rs 5,150/ShBelieve Co Benefits From Multiple Growth Drivers & Biz StrategiesThere Is Strong Growth Potential In The C&W Industry Over The Long TermEstimate Revenue/EBITDA/EPS CAGR At 17%/ 24%/22% Over FY25-27Stock Is Trading At 49x/40x FY26/FY27 EPS, Which Remains Attractive Equirus On Jyoti CNC AutomationInitiate Add Call, Target At Rs 1,450/ShCo Well-poised To Benefit From Multiple Sectoral Tailwinds – Both Domestically & GloballyAhead Of The Curve, Co Is Developing Capabilities & Capacities To Tap Into Large OpportunitiesThere Is A Large Capex Plan, Including Commensurate Backward IntegrationEst A 40%/47%/66% Sales/EBITDA/PAT CAGR Over FY24-FY27 With FY26 RoE At 27% Investec On KFin TechBuy Call, Target At Rs 1,100/ShIssuers Solutions Progressing Well (13% Of FY24 Revenues)Domestic MF AUM Growth May Be Sluggish For The Quarter (69% Of FY24 Revenues)Potential Acquisition To Expand International ForayVision To Become A Global Fund Administrator Investec On ITPrefer Zensar & KPIT TechIT Stocks Trading At Peak Premiums Over Nifty Despite Lower GrowthFY25 Benefited From Execution Of Large Cost Takeout Deals Won In The Prior YearDeal Wins Have WeakenedThere Might Be Lower Scope For Growth In Near-termA Recovery In Discretionary Spending Even More ImportantConsensus & Expectations Already Build In A Recovery In Discretionary SpendingRevenue Headwinds From AI Are Possibly A Year Or Two Away In ViewBelieve Risk Reward Is Unfavourable As Continue To See Potential For Marginal Results Downgrade GS On ITImproving Visibility Into CY25; Earnings Recovery To Continue; Buy Call On InfosysForecast 7% YoY Revenue Growth For Coverage In FY26Growth To Be Driven By Strength In US Economy Including Sectors Such As BFSI, ConsumerRecent Positive Commentary From US Banks Support Our Constructive Stance On The SectorGuidance From Accenture & Improving IT Spend Outlook Support Stance On The Sector MS On Zinka LogisticsInitiate Underweight Call, Target At Rs 450/ShCo Has Built Niche & Competitive Moats In A Large Fragmented Mkt With Multiple OfferingsCo Turned Profitable With A Rapidly Expanding Margin ProfileFind Risk-Reward Unattractive With Share Price Up 105% Since Nov’24 ListingExpect Steady State Adjusted EBITDA Margin Of 38% With Incremental Margin Stabilising At 60% By FY27Valuation At 34x FY27 Adj EBITDA Is At Higher End Of Relevant Peers

2024-12-30 07:35

2024-12-30

07:35

moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/how-government-bonds-can-be-safe-havens-for-retail-investors-in-volatile-times-12899081.html

How government bonds can be safe havens for retail investors in volatile times

Government bonds—a form of debt issued by central or state governments—offer stability and predictability..Related stories.

For decades, fixed deposits (FDs) with banks have been the financial comfort zone for Indian households. With features like guaranteed returns, safety and simplicity, they were the go-to choice for risk-averse savers. However, in today’s high-inflation environment, FDs are losing their sheen. Inflation based on the Consumer Price Index hit a 14-month high of 6.21 percent in October, eroding the real value of FD returns. Add to this the volatility in the equity market and it becomes clear why exploring alternatives like government bonds is essential for a diversified portfolio. Government bonds—a form of debt issued by central or state governments—offer stability and predictability. With sovereign backing, these bonds ensure safety while providing a range of options to suit diverse financial goals. India’s bond market reflects this potential, growing from Rs 68 lakh crore in 2014 to Rs 217 lakh crore in 2024. By 2028, it is expected to touch $5 trillion (approximately Rs 415 lakh crore),becoming the second-largest globally. Why government bonds are gaining in popularity Investors often turn to bonds during market turmoil, and recent geopolitical and economic uncertainties have amplified this trend. In FY24, foreign portfolio investors injected Rs 1,21,059 crore into India’s debt market, marking the highest inflows in nearly a decade. For domestic investors too, government bonds have emerged as a safe haven, combining stability with decent returns. Here’s a breakdown of the key government bond options available today. Treasury bills (T-bills) These are short-term securities maturing in 91, 182 or 364 days. Ideal for investors seeking liquidity, T-bills currently yield between 6.4 percent and 6.6 percent. While they don’t offer market-linked returns, they guarantee full face value at maturity. Dated government securities (G-Secs) Long-term bonds with tenures ranging from 5 to 40 years, G-Secs pay semi-annual interest with yields typically between 6.7 percent and 7.2 percent. They’re the cornerstone in the portfolios of conservative investors seeking a steady income. Floating rate savings bonds (FRSBs) With a seven-year tenure and semi-annual rate resets, FRSBs offer a current rate of 8.05 percent. This makes them attractive to investors looking for inflation protection and rising-rate adaptability. State development loans (SDLs) Bonds issued by state governments, SDLs offer slightly higher yields (7.5–8.0 percent) than G-Secs, reflecting the marginally higher risk attached to them. Also read |2025 outlook: Equity’s long-term prospects remain strong, bonds may continue to offer stable, remunerative returns Factors to consider while investing in bonds Investing in bonds requires understanding key factors to align them with your financial goals. Credit ratings Ratings from agencies like CRISIL, ICRA and CARE measure a bond’s creditworthiness. Higher-rated bonds (AAA is the highest) provide safety but lower returns, while lower-rated options may offer higher yields at greater risk. Liquidity Instruments like G-Secs are highly liquid, making them easy to trade. In contrast, SDLs and corporate bonds may face liquidity constraints, especially in volatile markets. Interest rate sensitivity Bond prices move inversely to interest rates. This means long-term bonds carry higher risk for those looking to sell before maturity. Also read |Yearender 2024: Of mules & phishing in the dark web — how scamsters played us Tax implications Whiletax-free bondsprovide interest without any levy, most bonds’ returns are taxable. Assessing post-tax returns is vital for maximising investment efficiency. Yield metrics Current yield: Annual interest divided by the bond’s market price, indicating return relative to its purchase price. Yield to maturity (YTM): The total return an investor can expect if the bond is held for the full term, including interest and any capital gains or losses. India’s growth and bond investments Government bonds are not just secure investments, they are also integral to India’s economic growth. With the fiscal deficit at 5.6 percent of GDP in FY24, the government relies on bond issuances to fund public expenditure, infrastructure projects and green initiatives under the National Infrastructure Pipeline. Bonds also promote sustainable financing, helping the country meet developmental goals while ensuring wealth preservation for investors. A market outlook rooted in optimism India’s bond market is on an upward trajectory, underpinned by reforms and the Reserve Bank of India’s initiatives like the Retail Direct Scheme. By allowing retail investors to buy bonds directly, the scheme simplifies access and eliminates intermediaries, democratising this asset class. In today’s unpredictable financial climate, government bonds offer far more than safe returns. They act as a financial anchor, providing stability, liquidity and diversification. Whether you’re looking to hedge against market volatility or build a conservative portfolio, government bonds tick all the right boxes. With their growing role in India’s economic framework, now is the perfect time to explore this compelling investment opportunity. The author is co-founder and CEO, FYERS.

2024-12-30 07:34

2024-12-30

07:34

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/ajay-poly-plans-to-tap-capital-market-files-draft-papers-for-ipo-12899816.html

Ajay Poly plans to tap capital market, files draft papers for IPO

Ajay Poly IPO.Related stories.

Refrigeration sealing solutions provider Ajay Poly has filed draft papers with the capital markets to raise funds via initial public offering. The IPO will be a combination of fresh issue of Rs 238 crore, and an offer-for-sale of 93 lakh shares by promoters, as per the DRHP filed on December 28. The New Delhi-based company may consider a pre-IPO placement of up to Rs 47.6 crore before the filing of red herring prospectus with the Registrar of Companies or before the IPO launch. If the company raises such amount, the fresh issue size will get reduced accordingly. Ajay Poly claimed to be one of leading manufacturers of refrigeration sealing solutions, profile extrusion and glass products for the appliance industry in India, with 61% market share in refrigeration sealing solutions (gaskets), 45.96% in total profile extrusion, and 15.4% share in overall toughened glass products for appliance industry. Click Here To ReadAll IPO News With ten manufacturing facilities across India, it caters to several Indian and multinational appliance OEM (original equipment manufacturer) customers include Haier Appliances (India), BSH Household Appliance Manufacturing, Seaga India, Frigoglass India. Godrej & Boyce Manufacturing Company, Voltbek Home Appliances, and IFB Refrigeration. Ajay Poly intends to use Rs 119 crore out of fresh issue proceeds for repaying its debt which in fact will significantly reduce the debt burden as its total borrowings were Rs 129 crore. Further, Rs 65 crore funds will be utilised for purchase of equipment, plant and machinery, and the remainder funds for general corporate purposes. The financial performance of the company remained strong in the past years with profit in the fiscal 2024 growing 74.6 percent to Rs 22.4 crore compared to previous fiscal and revenue increasing by 51.5 percent to Rs 364.4 crore in the same period. Profit in quarter ended June 2024 at Rs 12.3 crore grew by 61 percent over a year-ago period and revenue at Rs 130.1 crore jumped by 49 percent compared to corresponding period previous fiscal. The merchant bankers handling the public issue will be Motilal Oswal Investment Advisors, and SBI Capital Markets.

2024-12-30 07:19

2024-12-30

07:19

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/doterra-backed-gem-aromatics-files-draft-papers-for-ipo-with-rs-175-crore-fresh-issue-12899815.html

doTerra-backed Gem Aromatics files draft papers for IPO with Rs 175 crore fresh issue

Gem Aromatics IPO.Related stories.

Mumbai-based aromatic chemicals and oils maker Gem Aromatics plans to tap capital market for fund raising as it has filed preliminary papers with the SEBI for its IPO. The initial public offering will comprise of fresh issuance of equity shares worth Rs 175 crore, and an offer-for-sale of 89.24 lakh shares by promoters and investor, the selling shareholders. US-based doTerra Enterprises, being an investor since 2019, holds 25% stake in the company, while the 75% stake is owned by promoters (Parekh family). Gem Aromatics may consider raising up to Rs 35 crore before the IPO launch, i.e. pre-IPO placement. The fresh issue size will get reduced to the extent of such amount, if the company completes the said pre-IPO placement. Click Here To ReadAll IPO News It is one of the prominent essential oils and value-added derivatives manufacturers in India, based on value and volume manufactured, specializing in products that are derived from mint and clove oil. Its products find application in several industries such as oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness and pain management and personal care. Its top 10 customers include Colgate Palmolive India, doTerra Global, and Ventos Do Brasil LTDA. Dabur India, Patanjali Ayurved, SH Kelkar, Rossari Biotech, Ventos So Brasil Eireli, and Anhui Hautian Spices Co are also some of its customers. doTerra Global, being the top customer, contributed 18.89% to company's revenue for fiscal 2024. The company will utilise Rs 140 crore out of fresh issue proceeds mainly for debt reduction, and the remainder funds for general corporate purposes. In fact, the IPO seems to be helping the company reduce debt burden significantly as its total borrowings as of October 2024 were Rs 153.6 crore. Motilal Oswal Investment Advisors is appointed as the sole merchant banker for the issue.

2024-12-30 07:16

2024-12-30

07:16

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/sectors-and-stocks-for-january-based-on-seasonality-analysis-12899812.html

Sectors and stocks for January based on seasonality analysis

Stocks and Sectors To Watch in January.Related stories.

Seasonality analysis in the stock market refers to the study of recurring trends or patterns in stock prices that appear at specific times of the year. It is a tool for traders to make informed decisions about when to buy and sell stocks, sectors, or indices. What is Seasonality Analysis? Seasonality in the stock market refers to the tendency for certain stocks or sectors to perform better or worse during particular times of the year. This behaviour can be attributed to factors such as economic cycles, earnings reports, government policy (budget) and investor psychology. The Importance of Seasonality in Stock Market Analysis:>>Predicting Market Movements: By analysing seasonal trends, traders can predict when a stock or sector might be more likely to outperform or underperform.>>Improved Risk Management: Understanding seasonality helps traders time their entries and exits more effectively, minimising exposure during low-performing months.>>Enhancing Portfolio Returns: Traders can align their portfolios with seasonal trends to optimise returns, increasing the chances of higher profits in certain months. Seasonality Analysis in Practice: The Nifty50 and Sectorial Indices in January Let us analyse how seasonality affects the Indian stock market by examining the January performance of Nifty50 stocks and sectorial indices. Performance of the Sectoral Index:Performance of Nifty50 Stocks The Nifty50 index comprises 50 largecap stocks, and their collective performance during January often indicates broader market trends in India. *Kindly note that the data presented is from 1996 or the date of listing the stocks and sectors. Here are some common trends observed in January: >>Month Average Performancemetric is a crucial component of seasonality analysis. It tracks the average return of a stock or sector. The idea behind this is to identify if there’s a consistent trend of performance during that month. >>Month Positive Ratiois another important metric in seasonality analysis. It refers to the percentage of years that a particular stock or sector has had a positive return during a specific month. A high positive ratio indicates that the asset has historically tended to rise in that month, while a low ratio suggests the opposite. How to Trade with Seasonality Analysis Traders can use seasonality analysis in several ways to build and enhance their trading strategies. Here are a few strategies: 1>Identifying Seasonal Trends: Traders can buy stocks or sectors that have historically performed well in January. For instance, if historical data shows that Wipro has an average return of +5.04% in January, a trader might look for potential long positions at the start of the month. 2>Positioning Before Seasonal Catalysts: Seasonality is not just about past performance—it’s about anticipating future trends. If January historically shows positive performance due to fresh inflows or favourable economic conditions, traders might enter positions before the expected seasonal catalyst. 3>Leveraging Sectoral Seasonality: Sectors like Oil & Gas performed better in January as the monthly average performance is 2.8%. Traders can rotate their investments into these sectors based on their historical seasonal performance. 4>Using the Positive Ratio for Confirmation: A high monthly positive ratio (e.g., 80%) can be used to confirm an entry point, signalling a higher probability of success. As highlighted, the Oil & Gas index has a 2.8% average gain, but the positive ratio is 66%, indicating that higher chance of success. Traders might initiate long positions if the positive ratio supports their seasonal thesis. 5>Risk Management: Even if the historical data shows positive performance, risk management should still be a priority. Traders can use stop-loss orders to protect against unforeseen downturns and can also use historical performance data to decide on position sizing. Are you ready? Seasonality analysis is a powerful tool that helps traders and investors identify recurring patterns in stock, sector, and index performances. Market participants can align their trades with favourable seasonal trends by focusing on metrics like Month Average Performance and Month Positive Ratio. In the Indian stock market, especially with the Nifty50 and sectorial indices, seasonality can provide insights into potential opportunities in January and other months. Seasonality is not a guarantee, but when used in conjunction with other forms of analysis, it can provide a robust framework for market decisions. Note: The purpose of this article is only to share interesting charts, data points and thought-provoking opinions. It is NOT a recommendation. This article is strictly for educative purposes only.

2024-12-30 07:08

2024-12-30

07:08

moneycontrol.com

https://www.moneycontrol.com/news/business/commodities/pmi-data-to-steer-commodity-markets-in-data-light-new-year-week-12899811.html

PMI data to steer commodity markets in data-light new year week

Commodity Markets Outlook.Related stories.

By Kaynat Chainwala, AVP Commodity Research at Kotak Securities Commodity market activity was subdued, as expected, during the holiday-shortened week ended December 27. However, overall risk sentiment remained positive as investors looked forward to a potential "Santa Claus rally," a period during which markets traditionally rise in the last five trading days of December and the first two of January. This optimism helped US markets recover following Fed's hawkish shift in the prior week. US stock markets are now positioning for a strong close to 2024 and the dollar surpassed the 108.5 mark for the first time in 25 months, driven by resilience in the US economy and improving investor confidence. Gold ended the last week with 0.5% decline, marking its second consecutive week of losses. The yellow metal faced pressure from rising US Treasury yields and a stronger dollar, both influenced by the Fed's hawkish tone and scepticism over aggressive rate cuts in 2025. Despite a midweek safe-haven demand surge driven by geopolitical tensions and moderate US inflation data, thin trading volumes kept any potential gains in check. Nonetheless, gold is set to close the year with a robust 27% annual gain, its strongest since 2010, supported by central bank purchases and geopolitical risks. WTI crude posted a weekly gain of over 1%, closing above $70 per barrel, driven by expectations of Chinese economic stimulus, geopolitical tensions, political unrest, and a larger-than-expected 4.24 million barrels decline in US crude inventories. However, concerns over weakening Chinese oil demand and the potential for a global supply glut in 2025 capped further gains. China's apparent demand fell by 2.14% year-on-year last month, to 14.013 million barrels per day, while demand from January to November dropped by 3.26% year-on-year, to 13.996 million barrels per day. Crude oil is on track for a second consecutive yearly decline weighed down by higher non-OPEC supply and concerns over Chinese demand. Gold & Silver Rates Dec 28, 2024 Saturday, 28th December, 2024 GoldRate in Mumbai Dec 28, 2024 Saturday, 28th December, 2024 SilverRate in Mumbai Dec 28, 2024 On the daily chart, MCX Crude Oil January futures (back adjusted) closed (Rs 6,035 per barrel) highest last Friday since November 8, 2024. However, price needs to sustain above Rs 6,130 for further upside. Price is trading above 20EMA and Supertrend (7,3) indicating positive bias. If price is able to sustain above Rs 6,130, bulls may push price higher till Rs 6,260. On the flipside, Rs 5,840 will play crucial support for price. We expect the price to trade in the range of Rs 5,840 to Rs 6,130 with sideways to bullish bias. LME base metals ended the last week on a mixed note amid thin holiday trading, with copper and aluminum posting gains, while other metals remained subdued. Sentiment was supported by expectations of a record Chinese fiscal stimulus in 2025, with plans for 3 trillion yuan in special treasury bonds to support the slowing economy. Positive US data, including higher home sales and softer inflation, provided additional support. However, weak Chinese industrial profits and a strong US dollar limited broader gains. Supply constraints, such as falling copper output in Peru and low copper inventories in Shanghai, provided some underlying support to copper prices. Copper is set to close the year with decent gains, although it retreated sharply from record highs hit in May 2024 due to tight ore supply and Chinese production cuts. Data action will be light this week starting from December 30, with key indicators limited to Manufacturing PMIs from major global economies, along with US pending home sales and jobless claims. If PMI numbers come in weaker-than-expected, especially following recent disappointing data from China, it could put pressure on energy and metals counter. At the same time, this could prompt Chinese authorities to take more aggressive measures to address domestic demand, particularly with the looming threat of steep tariffs on Chinese goods from US President-elect Donald Trump. That said, it’s important to note that liquidity tends to be lower during the New Year week, so traders should be cautious of increased volatility due to fewer market participants and reduced market depth.

2024-12-30 07:05

2024-12-30

07:05

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/daily-voice-market-may-start-year-2025-with-a-caution-these-4-sectors-ready-for-long-term-growth-and-stability-says-dsp-mf-s-vinit-sambre-12899809.html

Daily Voice: Market may start year 2025 with a caution, these 4 sectors ready for long term growth and stability, says DSP MF’s Vinit Sambre

Vinit Sambre is the Head - Equities at DSP Mutual Fund.Related stories.

“The year 2025 may begin on a cautious note due to moderation in corporate earnings growth,” Vinit Sambre, Head - Equities at DSP Mutual Fund, said in an interview to Moneycontrol. However, according to him, companies with high-quality businesses, strong management, sustainable business models, with superior visibility of earnings growth are likely to outperform. Premium valuations may persist in segments where growth prospects remain strong. Certain sectors like healthcare, insurance, IT, and industries linked to the power sector not only show resilience in the current environment but also align with long-term investment strategy, said Vinit with specialisation in the small and midcap space. Which sectors are still showing strong growth prospects? Are you betting on those? The recent economic indicators, including the latest GDP figures and credit growth, suggest a slowdown in economic momentum. This is being reflected in earnings growth across most sectors, with a noticeable moderation. The corporate sector, which experienced over 25% earnings growth in the past 2-3 years, is now transitioning to a more sustainable level of 12-13%, with FY25 projected to be even lower. In this context, certain sectors like healthcare, insurance, IT, and industries linked to the power sector stand out. These sectors not only show resilience in the current environment but also align with our long-term investment strategy. Our portfolio decisions are guided by a focus on companies with strong competitive advantages (moats), reasonable returns on capital employed (ROCE), and the ability to outpace broader corporate earnings growth over time. While our long-term approach prioritizes strong fundamentals, we have also allocated a significant portion of our portfolio to the aforementioned sectors. These sectors not only perform well in the current market conditions but also meet our criteria for long-term growth and stability. Is it the right time to have exposure to the rural theme? The rural economy is showing encouraging signs of recovery after facing challenges over the past 2-3 years. The COVID-19 pandemic significantly impacted rural incomes, and inflation further constrained spending capacity. However, income levels are gradually improving, supported by higher minimum support prices (MSPs) for crops and favourable monsoon conditions in recent years. Additionally, the rise in gold prices has provided a modest boost to rural wealth. We remain optimistic about the rural economy's recovery and have positioned our portfolio to benefit from this trend. Our exposure includes companies in sectors such as fertilizers, agrochemicals, two-wheelers, and tractors, which are well-aligned with the needs of the rural market and poised to capitalize on the ongoing rebound. Do you advise buying into the auto and ancillary space, as the segment saw a significant correction in Q4-CY24? While we have exposure to the auto and auto ancillary sectors, we believe the industry may experience a period of moderation over the next quarter or two. This outlook is influenced by several factors, including slower growth in retail credit, a deceleration in job creation, and moderate salary growth. These dynamics suggest that the sector may consolidate before showing signs of recovery. Additionally, the commercial vehicle (CV) segment has witnessed a slowdown in growth, partly due to reduced government spending in the lead-up to elections. As a result, we expect the sector to face some headwinds in the short term, with a more pronounced recovery likely to take shape once these challenges begin to ease. What are the challenges for the US Federal Reserve and RBI in 2025? Do you expect the RBI to bring the repo rate to 6% in the coming year? While India’s economic data has been slipping into the slow lane for quite some time, it was only after GDP growth fell below 6% that it began to be acknowledged—not in the strictest sense, but through subtle policy actions. Additionally, there is little reason not to cut rates, with inflation under control and growth slowing down. However, with the new RBI governor’s first policy meeting in February, there remains considerable ambiguity regarding the policy direction. Nonetheless, a 50 basis points cut for the full year would not be too monumental. As for Fed, they are already on a rate cut cycle. But what remains typically concerning for the US is the level of federal debt they are running. Even if the current rate cut cycle continues, the federal interest payments will continue to remain very large, making US fiscal position more arduous. The US fiscal deficit has reached unprecedented levels post-covid, enabling other nations to boost growth without immediate consequences, which could shift if the US reduces its deficit. As markets ultimately focus on earnings, do you see a strong earnings recovery only starting from Q4FY25 onwards? What do you expect for the December quarter? Earnings growth momentum has been impacted by subdued government spending in H1FY25, largely due to the election-induced slowdown. While a gradual recovery is expected in government spending by Q4FY25, it may still fall short of the budgeted targets. Additionally, state capex is likely to be constrained as higher allocations are directed toward welfare programs. On the consumption front, the outlook remains weak. As mentioned earlier, slower job creation, muted salary growth, and poor credit expansion are weighing on urban consumption, even as rural consumption shows some early signs of improvement. However, urban consumption pockets continue to moderate. Predicting the timing of a sustained earnings recovery remains challenging. The earnings have been sequentially moderating since last 3-4 quarters and my view is that earnings could establish a low base over the next one or two quarters, setting the stage for a potential improvement thereafter. Where should the government focus in theUnion Budget2025? Budget is an exercise in accounting. The union government has repeatedly shown that policy making can happen outside of the budget. Hence we don’t carry any significant expectations. The best outcome would be continuity in policy making through steady capex spend and probably no significant changes in tax rates. What is your learning from the equity markets in 2024? Do you see similar kind of environment and returns in 2025? The year 2024 was another strong one for equity performance. A major takeaway for me has been that despite high starting valuations, equities can deliver robust returns when growth potential and valuation metrics are balanced effectively. However, the midyear correction served as a reminder that valuation exuberance inevitably realigns with fundamentals. As we look toward 2025, the year may begin on a cautious note due to moderation in corporate earnings growth. However, companies with high-quality businesses, strong management, sustainable business models, with superior visibility of earnings growth are likely to outperform. Premium valuations may persist in segments where growth prospects remain strong. Emerging themes such as renewable energy, artificial intelligence, quick commerce, and electric vehicles are shaping new growth vectors. We see a few companies tapping opportunities within these sectors emerging as long-term winners, presenting exciting opportunities for investors. A word of caution is warranted for the new investors who have largely experienced bull markets. Navigating weaker market conditions will test their resilience. Keeping a long-term perspective and moderating return expectations for the next year or so will be critical. Overall, 2025 calls for a balanced approach—leveraging growth opportunities while staying grounded in fundamentals and realistic expectations.

2024-12-30 06:51

2024-12-30

06:51

moneycontrol.com

https://www.moneycontrol.com/news/world/jimmy-carter-former-us-president-and-nobel-peace-prize-recipient-dead-at-100-12899819.html

Jimmy Carter, former US president and Nobel Peace Prize recipient, dead at 100

The Democrat served as the US president from January 1977 to January 1981 after defeating incumbent Republican president Gerald Ford in 1976. Carter was swept from office four years later in an electoral landslide as voters embraced Republican challenger Ronald Reagan..

Jimmy Carter, the earnest Georgia peanut farmer who as US president struggled with a bad economy and the Iran hostage crisis but brokered peace between Israel and Egypt and later received the Nobel Peace Prize for his humanitarian work, died at his home in Plains, Georgia, on Sunday, the Carter Center said. He was 100. “My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” said Chip Carter, the former president’s son. “My brothers, sister, and I shared him with the rest of the world through these common beliefs. The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs.” The Democrat served as the US president from January 1977 to January 1981 after defeating incumbent Republican president Gerald Ford in the 1976. Carter was swept from office four years later in an electoral landslide as voters embraced Republican challenger Ronald Reagan, the former actor and California governor. Carter lived longer after his term in office than any other US president. Along the way, he earned a reputation as a better former president than he was a president - a status he readily acknowledged. His one-term presidency was marked by the highs of the 1978 Camp David accords between Israel and Egypt, bringing some stability to the Middle East. But it was dogged by an economy in recession, persistent unpopularity and the embarrassment of the Iran hostage crisis that consumed his final 444 days in office. In recent years, Carter had experienced several health issues including melanoma that spread to his liver and brain. Carter decided to receive hospice care in February 2023, instead of undergoing additional medical intervention. His wife, Rosalynn Carter, died on November 19, 2023, at age 96. He looked frail when he attended her memorial service and funeral in a wheelchair. Carter left office profoundly unpopular but worked energetically for decades on humanitarian causes. He was awarded the Nobel Peace Prize in 2002 in recognition of his "untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development". Carter had been a centrist as governor of Georgia with populist tendencies when he moved into the White House as the 39th US president. He was a Washington outsider at a time when America was still reeling from the Watergate scandal that led Republican Richard Nixon to resign as president in 1974 and elevated Ford from vice president. "I'm Jimmy Carter and I'm running for president. I will never lie to you," Carter promised with an ear-to-ear smile. Asked to assess his presidency, Carter said in a 1991 documentary: "The biggest failure we had was a political failure. I never was able to convince the American people that I was a forceful and strong leader." Despite his difficulties in office, Carter had few rivals for accomplishments as a former president. He gained global acclaim as a tireless human rights advocate, a voice for the disenfranchised and a leader in the fight against hunger and poverty, winning the respect that eluded him in the White House. Carter won the Nobel Peace Prize in 2002 for his efforts to promote human rights and resolve conflicts around the world, from Ethiopia and Eritrea to Bosnia and Haiti. His Carter Center in Atlanta sent international election-monitoring delegations to polls around the world. A Southern Baptist Sunday school teacher since his teens, Carter brought a strong sense of morality to the presidency, speaking openly about his religious faith. He also sought to take some pomp out of an increasingly imperial presidency - walking, rather than riding in a limousine, in his 1977 inauguration parade.The Middle East was the focus of Carter's foreign policy. The 1979 Egypt-Israel peace treaty, based on the 1978 Camp David accords, ended a state of war between the two neighbors. Carter brought Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin to the Camp David presidential retreat in Maryland for talks. Later, as the accords seemed to be unraveling, Carter saved the day by flying to Cairo and Jerusalem for personal shuttle diplomacy. The treaty provided for Israeli withdrawal from Egypt's Sinai Peninsula and establishment of diplomatic relations. Begin and Sadat each won a Nobel Peace Prize in 1978. By the 1980 election, the overriding issues were double-digit inflation, interest rates that exceeded 20% and soaring gas prices, as well as the Iran hostage crisis that brought humiliation to America. These issues marred Carter's presidency and undermined his chances of winning a second term. Hostage Crisis On November 4, 1979, revolutionaries devoted to Iran's Ayatollah Ruhollah Khomeini had stormed the US embassy in Tehran, seized the Americans present and demanded the return of the ousted shah Mohammad Reza Pahlavi, who was backed by the United States and was being treated in a US hospital. The American public initially rallied behind Carter. But his support faded in April 1980 when a commando raid failed to rescue the hostages, with eight U.S. soldiers killed in an aircraft accident in the Iranian desert.Carter's final ignominy was that Iran held the 52 hostages until minutes after Reagan took his oath of office on Jan. 20, 1981, to replace Carter, then released the planes carrying them to freedom. In another crisis, Carter protested the former Soviet Union's 1979 invasion of Afghanistan by boycotting the 1980 Olympics in Moscow. He also asked the US Senate to defer consideration of a major nuclear arms accord with Moscow. Unswayed, the Soviets remained in Afghanistan for a decade. Carter won narrow Senate approval in 1978 of a treaty to transfer the Panama Canal to the control of Panama despite critics who argued the waterway was vital to American security. He also completed negotiations on full US ties with China. Carter created two new US Cabinet departments - education and energy. Amid high gas prices, he said America's "energy crisis" was "the moral equivalent of war" and urged the country to embrace conservation. "Ours is the most wasteful nation on earth," he told Americans in 1977. In 1979, Carter delivered what became known as his "malaise" speech to the nation, although he never used that word. "After listening to the American people I have been reminded again that all the legislation in the world can't fix what's wrong with America," he said in his televised address. "The threat is nearly invisible in ordinary ways. It is a crisis of confidence. It is a crisis that strikes at the very heart and soul and spirit of our national will. The erosion of our confidence in the future is threatening to destroy the social and the political fabric of America." As president, the strait-laced Carter was embarrassed by the behaviour of his hard-drinking younger brother, Billy Carter, who had boasted: "I got a red neck, white socks, and Blue Ribbon beer." 'There You Go Again' Jimmy Carter withstood a challenge from Massachusetts Senator Edward Kennedy for the 1980 Democratic presidential nomination but was politically diminished heading into his general election battle against a vigorous Republican adversary. Reagan, the conservative who projected an image of strength, kept Carter off balance during their debates before the November 1980 election. Reagan dismissively told Carter, "There you go again," when the Republican challenger felt the president had misrepresented Reagan's views during one debate. Carter lost the 1980 election to Reagan, who won 44 of the 50 states and amassed an Electoral College landslide. James Earl Carter Jr was born on October 1, 1924, in Plains, Georgia, one of four children of a farmer and shopkeeper. He graduated from the US Naval Academy in 1946, served in the nuclear submarine program and left to manage the family peanut farming business. He married his wife, Rosalynn, in 1946, a union he called "the most important thing in my life." They had three sons and a daughter. Carter became a millionaire, a Georgia state legislator and Georgia's governor from 1971 to 1975. He mounted an underdog bid for the 1976 Democratic presidential nomination, and out-hustled his rivals for the right to face Ford in the general election. With Walter Mondale as his vice-presidential running mate, Carter was given a boost by a major Ford gaffe during one of their debates. Ford said that "there is no Soviet domination of Eastern Europe and there never will be under a Ford administration," despite decades of just such domination. Carter edged Ford in the election, even though Ford actually won more states - 27 to Carter's 23. Not all of Carter's post-presidential work was appreciated. Former President George W Bush and his father, former President George HW Bush, both Republicans, were said to have been displeased by Carter's freelance diplomacy in Iraq and elsewhere. In 2004, Carter called the Iraq war launched in 2003 by the younger Bush one of the most "gross and damaging mistakes our nation ever made". He called the Bush administration "the worst in history" and said then vice-president Dick Cheney was "a disaster for our country". In 2019, Carter questioned Republican Donald Trump's legitimacy as president, saying "he was put into office because the Russians interfered on his behalf". Trump responded by calling Carter "a terrible president".Carter also made trips to communist North Korea. A 1994 visit defused a nuclear crisis, as President Kim Il Sung agreed to freeze his nuclear programme in exchange for resumed dialogue with the United States. That led to a deal in which North Korea, in return for aid, promised not to restart its nuclear reactor or reprocess the plant's spent fuel. But Carter irked Democratic President Bill Clinton's administration by announcing the deal with North Korea's leader without first checking with Washington. In 2010, Carter won the release of an American sentenced to eight years hard labor for illegally entering North Korea. Carter wrote more than two dozen books, ranging from a presidential memoir to a children's book and poetry, as well as works about religious faith and diplomacy. His bookFaith: A Journey for All, was published in 2018.

2024-12-30 06:19

2024-12-30

06:19

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trade-spotlight-how-should-you-trade-jubilant-foodworks-ipca-labs-paytm-welspun-corp-campus-activewear-and-others-on-december-30-12899798.html

Trade Spotlight: How should you trade Jubilant Foodworks, Ipca Labs, Paytm, Welspun Corp, Campus Activewear, and others on December 30?

Top Buy Ideas for next week.Related stories.

The market gained in three out of four sessions and closed the holiday-shortened week with nearly a 1% gain. On December 27, it was up by 0.3%, amid consolidation, marking a positive start for the January series. A total of 1,268 shares advanced, while 1,233 shares declined on the NSE. The market is expected to remain rangebound with a positive bias in the upcoming sessions. Below are some trading ideas for the near term: Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities Campus Activewear| CMP: Rs 315.8 Campus Activewear has recently broken out decisively from an "Inverse Head & Shoulders" reversal formation at the Rs 307 level on a closing basis. This breakout is supported by significant trading volumes, indicating increased participation. The stock is currently well-positioned above its 20, 50, 100, and 200-day Simple Moving Averages (SMA), reaffirming its bullish outlook. Additionally, both the daily and weekly Relative Strength Index (RSI) are in favourable territory, suggesting strong momentum across all timeframes. The daily Bollinger Bands also indicate an increase in momentum. Investors are advised to buy, hold, and accumulate this stock. Strategy: Buy Target: Rs 345, Rs 367 Stop-Loss: Rs 303 Welspun Corp| CMP: Rs 810.2 Welspun Corp is currently in a strong uptrend across all timeframes, consistently forming a series of higher highs and lows. Recently, it retraced towards the 38.2% Fibonacci support zone at the Rs 757 level and then rebounded sharply, indicating bullish sentiment. The stock is well-positioned above its 20, 50, 100, and 200-day Simple Moving Averages (SMA), all of which are rising alongside the stock price, further reinforcing the bullish trend. Additionally, the RSI on both the daily and weekly charts is in favourable territory, supporting the notion of increasing strength across all timeframes. Investors should consider buying, holding, and accumulating this stock. Strategy: Buy Target: Rs 855, Rs 885, Rs 905 Stop-Loss: Rs 790 Devyani International| CMP: Rs 192.72 Devyani International has successfully surpassed the "multiple resistance" breakout at the Rs 185 level on a closing basis following Friday's substantial gains. This breakout is notable for being accompanied by high trading volumes, indicating increased investor participation. The stock has regained its 20, 50, and 200-day simple moving averages (SMAs) and has rebounded sharply. The daily, weekly, and monthly RSI shows favourable conditions, confirming rising strength across all timeframes. Additionally, the daily Bollinger Bands reflect increased momentum. Investors should consider buying, holding, and accumulating this stock. Strategy: Buy Target: Rs 220, Rs 235 Stop-Loss: Rs 183 Ameya Ranadive, CMT, CFTe, Senior Technical Analyst at StoxBox Firstsource Solutions| CMP: Rs 368.6 Firstsource Solutions sustained above all key exponential moving averages (20, 50, 100, and 200 EMA), highlighting robust bullish momentum. The RSI is at 54, indicating healthy strength without being overbought, while the Average Directional Index (ADX) reflects a firm trend. The stock has been forming a series of higher highs and higher lows, signaling a continued uptrend. A breakout above the Rs 386 resistance level could trigger a strong upward move, with potential targets around Rs 405. The stock remains a strong buy at current levels, with support placed at Rs 355. The bullish view will be negated below Rs 345, and resistance is at Rs 386. Traders can consider accumulating the stock at current levels. Strategy: Buy Target: Rs 386, Rs 405 Stop-Loss: Rs 345 PG Electroplast| CMP: Rs 993.25 PG Electroplast has sustained comfortably above all key exponential moving averages (20, 50, 100, and 200 EMA), showcasing strong bullish momentum. The RSI is at 73 and has been sustaining above the 70 mark for a considerable time, indicating persistent strength. The ADX further supports the prevailing upward trend. The stock is trading within an ascending channel pattern, consistently forming higher highs and higher lows, which is a hallmark of a strong uptrend. With such a robust technical structure, PGEL looks poised to achieve a target of Rs 1,200 in the near term. The bullish view will be negated only if the stock falls below the Rs 885 support level, making it a critical level to watch. Traders can consider entering the stock at current levels. Strategy: Buy Target: Rs 1,200 Stop-Loss: Rs 885 One 97 Communications| CMP: Rs 1,014.25 Paytm displayed robust bullish momentum. The stock is making higher highs, a positive indication of a sustained uptrend. Technically, the RSI is at 65, signaling strength without being overbought, while the ADX stands at 39, highlighting solid trend strength. The stock is trading above all major exponential moving averages (20, 50, 100, and 200 EMA) and within the Bollinger Bands, reflecting stability and upward potential. With the current structure and momentum, Paytm appears well-positioned to achieve a target of Rs 1,170 in the near term. The bullish view will be negated if the stock closes below the Rs 950 support level, which aligns with a critical technical threshold. Traders can consider entering at current levels. Strategy: Buy Target: Rs 1,170 Stop-Loss: Rs 950 Rajesh Bhosale, Technical Analyst at Angel One Ipca Laboratories| CMP: Rs 1,632.65 After establishing a base and forming a double bottom near the critical support of the 89 DEMA, Ipca Laboratories has rebounded sharply, breaking above the recent consolidation range and confirming a bullish breakout. This breakout is accompanied by robust volumes and a bullish candlestick pattern. Additionally, the RSI indicator has risen above the 60 level, signaling the stock's entry into positive momentum. Hence, we recommend buying the stock around Rs 1,632 - 1,628. Strategy: Buy Target: Rs 1,700 Stop-Loss: Rs 1,599 Mangalam Cement| CMP: Rs 981.1 The daily chart indicates a multiple-pattern bullish breakout. On a larger scale, Mangalam Cement confirmed a 'Cup and Handle' breakout, while on a smaller scale, the handle portion reflects a channel breakout. This breakout is accompanied by a surge in volume, with prices moving above all major moving averages. Hence, we recommend buying Mangalam Cement around Rs 981 - Rs 977. Strategy: Buy Target: Rs 1,080 Stop-Loss: Rs 936 Jubilant Foodworks| CMP: Rs 708.1 Jubilant Foodworks has shown strong performance over the last six months, with every minor dip being consistently bought. It has now achieved its highest closing level in two years, confirming a 'Cup and Handle' breakout on the weekly chart. Volume analysis reveals robust activity during price upswings, contrasted with lower volumes during downswings. Additionally, prices are trading well above key moving averages, and oscillators are favourably positioned, reinforcing the buy recommendation. Hence, we recommend buying Jubilant Foodworks around Rs 707 - Rs 705. Strategy: Buy Target: Rs 750 Stop-Loss: Rs 687

2024-12-30 01:49

2024-12-30

01:49

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trading-plan-can-nifty-clear-23-900-hurdle-bank-nifty-surpass-51-600-level-12899778.html

Trading Plan: Can Nifty clear 23,900 hurdle, Bank Nifty surpass 51,600 level?

Nifty Trading Plan.Related stories.

The Nifty and Bank Nifty closed higher by a third of a percent after rangebound trading on December 27, lacking strength at higher levels. The Nifty 50 needs to surpass the 23,900-24,000 area for an upward move towards 24,300. However, falling below 23,700 (200 DEMA) could drag the index down to the 23,500 zone. Until then, rangebound trading may persist. The Bank Nifty is also facing a strong hurdle at 51,600 (100 DEMA). Above this, 52,000 is the level to watch, but as long as it sustains below 51,600, consolidation may continue with support in the 51,000-50,800 zone, experts said. On Friday, December 27, the Nifty 50 climbed 63 points to reach 23,813, while the Bank Nifty advanced by 141 points to 51,311. The market breadth was slightly positive, with 1,268 shares rising and 1,233 shares declining on the NSE. Nifty Outlook and Strategy Rajesh Bhosale, Technical Analyst at Angel One The Nifty remained confined within the range of the large bearish candle formed on December 20, resulting in four small candlesticks on the daily chart. As we approach the end of the calendar year, consolidation is likely to persist for the next few sessions. A decisive breakout from the recent trading range would be required to trigger a trending move. On the downside, the zone around 23,600–23,500, aligning with last Friday’s low, acts as a critical support level. A breach below this range could reignite the downtrend, potentially driving prices towards 23,300–23,200. Conversely, resistance levels are seen at regular intervals, with the 200-day SMA at 23,900 and the psychological mark of 24,000 serving as immediate hurdles. A breakout above these levels could extend the bounce to 24,150–24,250. Key Resistance: 23,900, 24,000 Key Support: 23,600, 23,500 Strategy: Traders should monitor these key levels to structure their strategies effectively. As per the "January Barometer" theory, the upcoming week holds significance, as the market’s performance during the early days of January often sets the tone for near-term trends. Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities The Nifty held above the upward-sloping trendline and closed with 226 points in gains for the week. On the weekly chart, the Nifty formed a small bullish candle; however, it stayed within the high-low range of the previous week, indicating indecision among market participants. Moreover, the failure to surpass the 200-day Simple Moving Average (SMA) highlights a negative bias. The chart pattern suggests that a sustained move above 24,000 could trigger buying momentum, potentially driving the index towards 24,150–24,300. In contrast, a drop below 23,700 may lead to selling pressure, pushing the index down to 23,500–23,200. For the upcoming week, the Nifty is expected to trade within the range of 24,300–23,200 with a mixed bias. Additionally, the weekly Relative Strength Index (RSI), which is trending downward and positioned below its reference line, further supports a negative outlook. Key Resistance: 23,900, 24,000 Key Support: 23,650, 23,500 Strategy: Sell Nifty around 23,950 with a stop-loss at 24,000, targeting 23,700–23,650. Ameya Ranadive, CMT, CFTe, Senior Technical Analyst at StoxBox The Nifty has managed to hold above the 200-day EMA, which has been a historically strong support zone since May 2023, often acting as a springboard for upward moves. However, the market remains largely sideways due to persistent FII selling and a strengthening Dollar Index, which has created cautious sentiment. Options data indicates a narrow trading range, with significant Call writing at the 24,000 strike, marking a strong resistance zone. On the downside, support is evident at the 23,800 Put strike, followed by the 23,500 Put strike. The weekly chart also reflects a Bullish Harami pattern, indicating potential for a reversal if key levels are breached. Key Resistance: 23,800, 24,000 Key Support: 23,700, 23,500 Strategy: Considering the historical significance of the 200-day EMA and the Bullish Harami pattern, buying the Nifty around 23,600 is advisable, with targets of 23,950–24,050. This view will be negated if the Nifty closes below 23,500. Sustaining above 23,800 could trigger the unwinding of positions, potentially driving a sharp rally toward 24,000. Bank Nifty - Outlook and Positioning Rajesh Bhosale, Technical Analyst at Angel One On a weekly basis, the Bank Nifty index has consolidated within the prior week’s large down bar, reflecting a lack of follow-through. Coupled with its crucial location near the 200-DSMA and prior swing low, this offers some hope for buyers. However, the presence of strong resistance in the 51,900–52,000 range, caused by a bearish gap, along with the proximity of the 20 DEMA and 50 DEMA, poses significant headwinds to any upward movement. Unless we see a closure of the bearish gap, it would be prudent to treat any bounce as an opportunity to consider short positions. Key Resistance: 51,900, 52,200 Key Support: 51,000, 50,500 Strategy: The repeated failure of the index to convincingly sustain above the 51,900–52,000 zone highlights the presence of stiff resistance in that area. Traders should use any bounce to lighten up on longs and consider creating fresh short positions. Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities The Bank Nifty remained largely consolidated for the week after the sharp decline experienced in the previous week. The index closed with a 552-point gain for the week. On the weekly chart, a small bullish candle formed; however, the index remained within the high-low range of the prior week, indicating a lack of directional strength. Importantly, the index encountered significant resistance within the bearish gap area between 52,010 and 51,790. The chart suggests that a sustained move above 51,750 could stimulate buying, pushing the index towards 52,000–52,500. Conversely, if the index breaks below 51,000, it may trigger selling pressure, dragging it down to the range of 50,600–50,400. For the upcoming week, Bank Nifty is expected to trade within the range of 52,500–50,400, with a mixed bias. Additionally, the weekly RSI, currently in negative territory and below its reference line, emphasizes a bearish undertone. Key Resistance: 51,500, 51,700 Key Support: 51,100, 50,850 Strategy: Sell Bank Nifty near 51,700, with a stop-loss at 51,900, targeting 51,400–51,250. Ameya Ranadive, CMT, CFTe, Senior Technical Analyst at StoxBox The Bank Nifty held above its 200-day EMA, a crucial support level since early 2024. However, resistance at the 50-day EMA has capped gains, leading to profit booking throughout the week. The index remains in a tight range, reflecting indecisiveness in the market. Options data suggests a rangebound outlook, with resistance at 52,000 and support at 51,000. Notably, the weekly chart exhibits a Bullish Harami pattern, signaling potential recovery if key resistance levels are breached. A breakdown below 51,600 could test supports near 51,000. Key Resistance: 51,650, 52,000 Key Support: 51,000, 50,800 Strategy: Traders can leverage theta decay by shorting the 50,800 Put strike at Rs 550 for the January 29 expiry, aiming for a target of Rs 350. The view will be negated if the premium rises and closes above Rs 700. With Bank Nifty at support levels, a breakout above 51,650 may lead to a stronger upward move.

2024-12-30 01:38

2024-12-30

01:38

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/trade-setup-for-december-30-top-15-things-to-know-before-the-opening-bell-12899759.html

Trade setup for December 30: Top 15 things to know before the opening bell

Nifty Trade Setup.Related stories.

The Nifty 50 gained some strength amid rangebound trading, rising by a third of a percent on December 27. However, it remained within the broader trading range of the 200-day SMA (23,862) and the 200-day EMA (23,694) on a closing basis for the fourth consecutive session. Experts anticipate that rangebound trading may continue in the upcoming sessions amid low trading volumes. Nevertheless, the declining VIX could provide support for the bulls. If the index decisively surpasses and sustains above the 200-day SMA, a rally towards 24,000–24,200 is possible. Conversely, if it falls below the 200-day EMA, the decline may extend to 23,500 (the low of December 20). Here are 15 data points we have collated to help you spot profitable trades: 1)Key Levels For TheNifty 50(23,813) Resistance based on pivot points: 23,904, 23,936, and 23,989 Support based on pivot points: 23,798, 23,766, and 23,713 Special Formation:The Nifty 50 formed a small bullish candle with a long upper shadow on the daily charts, indicating a lack of strength at higher levels. Overall, the sentiment is expected to remain bearish as the index is still significantly below the 10, 20, 50, and 100-day EMAs and remains within the lower band of the Bollinger Bands. The momentum indicators—RSI (Relative Strength Index at 40.7), MACD (Moving Average Convergence Divergence, below the zero line), and KST (Know Sure Thing, showing a negative crossover)—all point to continued weakness. 2)Key Levels For TheBank Nifty(51,311) Resistance based on pivot points: 51,542, 51,633, and 51,782 Support based on pivot points: 51,245, 51,153, and 51,005 Resistance based on Fibonacci retracement: 51,578, 52,128 Support based on Fibonacci retracement: 50,666, 49,787 Special Formation: The Bank Nifty exhibited similar behaviour to the Nifty 50, forming a small green candle with a long upper wick, indicating selling pressure at higher levels. The index failed to close above the 100-day EMA for another session, reinforcing the notion of a strong hurdle on the upside. Additionally, it remained below the 10, 20, 50, and 100-day EMAs as well as the lower band of the Bollinger Bands. Momentum indicators such as RSI (at 42), MACD (below the zero line), and KST (negative crossover) signal continued weakness in the index. 3)Nifty Call Options Data According to the weekly options data, the maximum Call open interest was seen at the 24,500 strike (with 67.85 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,000 strike (55.26 lakh contracts), and the 24,200 strike (52.41 lakh contracts). Maximum Call writing was observed at the 24,200 strike, which saw an addition of 31.79 lakh contracts, followed by the 24,100 and 24,500 strikes, which added 26.28 lakh and 24.11 lakh contracts, respectively, while the maximum Call unwinding was seen at the 23,800 strike, which shed 2.86 lakh contracts, followed by the 23,750 and 23,500 strikes, which shed 1.35 lakh and 74,550 contracts, respectively. 4)Nifty Put Options Data On the Put side, the 23,500 strike holds the maximum open interest (with 65.72 lakh contracts), which can act as a key support level for the Nifty. It was followed by the 23,800 strike (57.65 lakh contracts), and the 23,000 strike (41.09 lakh contracts). The maximum Put writing was placed at the 23,500 strike, which saw an addition of 38.52 lakh contracts, followed by the 23,000, and 23,900 strikes, with 13.66 lakh, and 12.68 lakh contracts added, respectively, while the maximum Put unwinding was seen at the 24,600 strike, which shed 3,150 contracts, followed by the 24,900 and 24,650 strikes, which shed 2,700 and 2,325 contracts, respectively. 5)Bank Nifty Call Options Data According to the monthly options data, the maximum Call open interest was seen at the 52,000 strike, with 11.32 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 53,000 strike (10.58 lakh contracts) and the 51,500 strike (7.81 lakh contracts). Maximum Call writing was visible at the 53,500 strike (with the addition of 1.04 lakh contracts), followed by the 52,000 strike (73,095 contracts) and the 53,300 strike (27,660 contracts), while the maximum Call unwinding was seen at the 52,500 strike, which shed 1.01 lakh contracts, followed by the 51,200 and 51,100 strikes, which shed 87,945 and 39,840 contracts, respectively. 6)Bank Nifty Put Options Data On the Put side, the 51,500 strike holds the maximum open interest (with 8.86 lakh contracts), which can act as a key level for the index. This was followed by the 50,000 strike (7.91 lakh contracts) and the 51,000 strike (7.34 lakh contracts). The maximum Put writing was observed at the 50,000 strike (which added 80,970 contracts), followed by the 51,500 strike (73,680 contracts) and the 52,000 strike (65,730 contracts), while the maximum Put unwinding was seen at the 51,200 strike, which shed 45,705 contracts, followed by the 51,100 and 51,000 strikes, which shed 36,570 and 17,130 contracts, respectively. 7)Funds Flow (Rs crore) 8)Put-Call Ratio The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.03 on December 27, from 1.05 level in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market. 9)India VIX The India VIX, the volatility index, fell sharply by 5.68 percent on Friday to 13.24 after rising 6.51 percent in the previous session, providing comfort to the bulls. Experts note that as long as the VIX remains below the 14 level, the bulls may retain their advantage. 10)Long Build-up (58 Stocks) A long build-up was seen in 58 stocks. An increase in open interest (OI) and price indicates a build-up of long positions. 11)Long Unwinding (24 Stocks) 24 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding. 12)Short Build-up (108 Stocks) 108 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions. 13)Short-Covering (36 Stocks) 36 stocks saw short-covering, meaning a decrease in OI, along with a price increase. 14)High Delivery Trades Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock. 15)Stocks Under F&O Ban Securities banned under the F&O segment include companies where derivative contracts cross 95 percent of the market-wide position limit. Stocks added to F&O ban: Nil Stocks retained in F&O ban: Nil Stocks removed from F&O ban: Nil Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

2024-12-29 23:19

2024-12-29

23:19

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/s-p-500-s-2024-rally-shocked-forecasters-expecting-it-to-fizzle-12899757.html

S&P 500’s 2024 rally shocked forecasters expecting it to fizzle

The result has largely extinguished bearish sentiment on Wall Street and driven some strategists to capitulate by ditching pessimistic calls..Related stories.

By this time last year, the stock market’s rally had blown past even the most optimistic targets and Wall Street forecasters were convinced it couldn’t keep up the dizzying pace. So as strategists at Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc. and other big firms sent out their calls for 2024, a consensus took shape: After surging more than 20% as artificial intelligence breakthroughs unleashed a tech-stock boom and the economy kept defying the doomsayers, the S&P 500 Index would likely scratch out only a modest gain. As the Federal Reserve shifted to cutting interest rates, Treasuries were seen as ripe to give equities a run for their money. What followed, instead, delivered another humbling to Wall Street prognosticators who have been caught off guard by the market’s twists and turns ever since the end of the pandemic. Rather than lose steam, equity prices continued to soar higher. By late January, the S&P 500 had already surpassed the average year-end target from strategists. It went on to hit one record high after another and is heading to a 25% gain in 2024, capping the strongest back-to-back annual runs since the dot-com bubble of the late 1990s. “There is an element of miraculousness to it,” said Julian Emanuel, chief equity and quantitative strategist at Evercore ISI, who by mid-year abandoned his call for a slight dip in the S&P 500 and was the first among major strategists to introduce a year-end target of 6,000. “Trends can go on longer and go farther than one could ever imagine.” The continuation of that trend is a testament to how much the post-pandemic economy has confounded forecasters by steadily expanding even after the Fed pushed interest rates to a more than two-decade high. As 2023 was drawing to a close — and bonds were rallying strongly on speculation that the central bank would need to start easing policy aggressively — fixed-income strategists were predicting that the benchmark 10-year Treasury yield would drift lower to end this year around 3.8%. It has risen to eclipse 4.6% instead. The economy’s strength has supported the stock market’s rise by trickling down to corporate profits. At the same time, excitement about AI continued to push up the stocks of big tech companies like Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc. and Nvidia Corp. The rally got another boost from Donald Trump’s presidential victory by promising tax cuts and corporate-friendly policies. The result has largely extinguished bearish sentiment on Wall Street and driven some strategists to capitulate by ditching pessimistic calls. Morgan Stanley’s Mike Wilson — who in 2023 delivered a drumbeat of warnings that equities were poised to slide — by this May turned positive on stocks. JPMorgan Chase & Co.’s Marko Kolanovic, who had predicted the S&P 500 would tumble 12% by December, left the bank in mid-2024 after two decades at the firm. In late November, Dubravko Lakos-Bujas, who now heads JPMorgan’s market research team, dropped the previously bearish target and predicted the S&P 500 will keep climbing next year. Lakos-Bujas said some of the team’s missteps reflected the difficulty of anticipating the surge of the so-called Magnificent Seven tech stocks, which account for an outsized chunk of the S&P 500’s gains. But he said there’s solid reasons for the optimism from here, citing an easing Fed, the change of power in Washington, and a Chinese government that’s eager to keep its economy humming. “We have effectively three puts in place,” said Lakos-Bujas, who expects the S&P 500 to rise to 6,500 next year, a gain of about 9% from Friday’s level. That “shifted our thinking process in terms of risky assets and equities.” It wasn’t only the pessimists who were caught off guard. Almost every top strategist tracked by Bloomberg boosted their S&P 500 targets at least once this year after the index shot through them. When the targets were first published in late 2023, even the most bullish forecasters at the time — Fundstrat’s Tom Lee and Oppenheimer’s John Stoltzfus — expected the S&P 500 to rise only about 9% to 5,200, a level that it surpassed in less than three months. There were some moments when it looked like the stock market was due for a reversal but they proved short lived. While the S&P 500 slid from mid-July through early August, it soon resumed its march higher as worries about tech earnings faded. A selloff sparked by Fed Chair Jerome Powell’s hawkish tone this month also quickly reversed. The steep climb, of course, has sown some concern that valuations have become too stretched. That’s particularly acute for companies tied to AI, given uncertainty about whether the technology will live up to its promise. And the market’s embrace of Trump’s victory ignores the risks posed by his tariff and tax-cut plans, which could rekindle inflation and stymie global trade. But few are calling for the rally to end. In fact, none of the 19 strategists tracked by Bloomberg expects the S&P 500 to decline next year. Even the lowest forecast sees the benchmark holding steady; the most optimistic — at 7,100 — implies a 19% rally. Binky Chadha, chief US equity and global strategist at Deutsche Bank, has been among the bullish cohort on Wall Street for the past three years. His 2025 target of 7,000 points is among the most optimistic, reflecting his expectation for continued economic growth and low unemployment. He said he’s not worried about being caught offsides. Forecasting markets means taking it “a year at a time,” he said. “In a typical year, equities will pull back by 3% to 5% every two-to-three months. Does that mean you shouldn’t buy equities? No, you should because they’re going back up.”

2024-12-29 22:11

2024-12-29

22:11

moneycontrol.com

https://www.moneycontrol.com/news/world/taliban-leader-bans-windows-overlooking-women-s-areas-12899755.html

Taliban leader bans windows overlooking women's areas

Taliban leader bans windows overlooking women's areas.Related stories.

The Taliban's supreme leader has issued an order banning the construction of windows in residential buildings that overlook areas used by Afghan women and saying that existing ones should be blocked. According to a statement released late Saturday by the Taliban government spokesman, new buildings should not have windows through which it is possible to see "the courtyard, kitchen, neighbour's well and other places usually used by women". "Seeing women working in kitchens, in courtyards or collecting water from wells can lead to obscene acts," according to the decree posted by government spokesman Zabihullah Mujahid on social media platform X. Municipal authorities and other relevant departments would have to monitor construction sites to ensure it is not possible to see into neighbours' homes. In the event that such windows exist, owners would be encouraged to build a wall or obstruct the view "to avoid nuisances caused to neighbours", the decree states. Since the Taliban's return to power in August 2021, women have been progressively erased from public spaces, prompting the United Nations to denounce the "gender apartheid" the administration has established. Taliban authorities have banned post-primary education for girls and women, restricted employment and blocked access to parks and other public places. A recent law even prohibits women from singing or reciting poetry in public under the Taliban government's ultra-strict application of Islamic law. It also encourages them to "veil" their voices and bodies outside the home. Some local radio and television stations have also stopped broadcasting female voices. The Taliban administration claims that Islamic law "guarantees" the rights of Afghan men and women.

2024-12-29 22:04

2024-12-29

22:04

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/stocks-to-watch-today-hero-motocorp-ola-electric-star-cement-universal-autofoundry-aerpace-senores-pharma-ventive-hospitality-in-focus-on-30-december-12899752.html

Stocks to Watch Today: Hero MotoCorp, Ola Electric, Star Cement, Universal Autofoundry, Aerpace, Senores Pharma, Ventive Hospitality in focus on 30 December

Stocks To Watch Today.Related stories.

Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade: Stocks To Watch Ola Electric Mobility Anshul Khandelwal has resigned as Chief Marketing Officer, and Suvonil Chatterjee has quit as Chief Technology & Product Officer of the company, effective December 27, due to personal reasons. Prestige Estates Projects The south-based real estate developer has transferred three of its hospitality undertakings to its subsidiary, Prestige Hospitality Ventures, for Rs 313 crore. The hospitality undertakings include Mulberry Shades Bengaluru Nandi Hills, A Tribute Portfolio Resort; the underlying land along with all rights at Moxy Outer Ring Road; and a 57.45% equity stake in Prestige Leisure Resorts. The company is consolidating its hospitality assets under a single vertical. Computer Age Management Services Pullakurthi Srinivasa Reddy has resigned as Chief Technology Officer of the company, effective December 27. Furthermore, the board has approved an additional investment of Rs 8 crore in its subsidiary, CAMS Financial Information Services, through a rights issue in one or more tranches. IL&FS Engineering and Construction Company The company has received a sub-contracting works order worth Rs 302.82 crore related to Bhubaneswar Metro Phase-I from Ceigall India. The project involves part design and construction of the elevated viaduct, including a ramp for depot entry, as well as restoration works within the barricade of Bhubaneswar Metro Phase-I MRTS on a back-to-back basis. Hero MotoCorp The company has extended its partnership with Harley-Davidson Motor Company, Inc to expand the Harley-Davidson X440 into new variants and to develop and manufacture a new motorcycle. Aerpace Industries AerVolt has secured an order worth Rs 97.5 crore for the supply of 50 MWp high-efficiency 595 Wp TOPCon technology smart solar panels. Delivery of the 595 Wp TOPCon bifacial solar panels for this tender is scheduled to begin in April 2025. Coforge The board has approved the scheme of amalgamation of Cigniti Technologies with Coforge. Currently, Coforge holds 54% of Cigniti's expanded share capital. Cigniti shareholders will receive one equity share of Coforge for every five shares held. PNC Infratech The company has received in-principle approval from the National Highways Authority of India for the transfer of 100% of the stake held by its subsidiary, PNC Infra Holdings, in PNC Chitratlurga Highways (special purpose vehicle) to Highways Infrastructure Trust. Fortis Healthcare The board has approved the appointment of Leo Puri as an Additional Independent Director, and he has also been designated as the Chairman, effective December 27. Utkarsh Small Finance Bank The board has approved the sale of NPA and written-off loans to an Asset Reconstruction Company (ARC), including unsecured stressed microfinance loans of Rs 355 crore. The reserve price for stressed microfinance loans is set at Rs 52 crore. SJVN The board has appointed Sanjay Kumar as Chief Financial Officer (CFO) of the company, effective January 1, 2025. Reliance Infrastructure The company's subsidiary, PS Toll Road (PSTR), has received notices from Axis Bank and IDFC First Bank, invoking the right of substitution under the Concession Agreement for six-laning the Pune-Satara section of NH-44 in Maharashtra, citing alleged DSRA defaults by PS Toll Road. PSTR will seek legal advice and take appropriate steps to safeguard its interests. The financial impact on the company cannot be determined at this stage. Reliance Industries The company has acquired technology-driven, oncology-focused healthcare platform Karkinos for Rs 375 crore. In its filing, Reliance said its subsidiary, Reliance Strategic Business Ventures, has subscribed to and has been allotted 1 crore equity shares of Rs 10 each, for cash, aggregating Rs 10 crore, and 36.5 crore optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos Healthcare. Karkinos provides technology-driven, innovative solutions for the early detection, diagnosis, and management of cancer. Max Financial Services The boards of Axis Max Life Insurance and Max Life Pension Fund Management have decided to discontinue the operations of Max Life Pension Fund Management as a pension fund manager. After the recent change in the corporate name from Max Life Insurance Company to Axis Max Life Insurance, the presence of two separate pension fund management entities with similar branding could lead to unintended misinterpretations among the general public and the NPS subscribers of both PFM entities. Axis Bank also has an established pension fund management company, Axis Pension Fund Management. Alkyl Amines Chemicals The residue tank in the derivatives plant at the company's Pune plant in Maharashtra ruptured, resulting in serious burn injuries to the attending officer due to the hot content of the residue tank. The officer succumbed to the injuries after being treated at Surya Burns Hospital in Pune. There could be a temporary disruption in operations at the affected plant. The company is taking all necessary steps to restore normal operations at the earliest. Assets at the affected plant are adequately insured, and the company is in the process of filing an insurance claim to cover the damage and losses. Godrej Consumer Products The public shareholding in the company has increased to 46.96% after the reclassification of promoter shareholders, with the promoter's stake now at 53.04%, compared to 63% earlier. IOL Chemicals and Pharmaceuticals The board has approved the sub-division (or split) of each equity share with a face value of Rs 10 into five equity shares with a face value of Rs 2 each. Adani Enterprises After the allotment of additional equity shares by Jhar Mineral Resources, the company's stake in Jhar Mineral Resources has been diluted to 51%. Accordingly, Jhar Mineral Resources will now be a subsidiary rather than a wholly owned subsidiary of the company. Gujarat Fluorochemicals The company has announced a temporary disruption of operations due to an incident at its CMS-1 plant at Dahej, Gujarat, on December 28. Four persons who were present at the plant died. All the company's assets are adequately covered under the insurance policy. Bulk Deals Star Cement UltraTech Cementhas acquired an 8.3% stake in Star Cement at an average price of Rs 227.7 per share, for Rs 765.68 crore. Promoters Rahul Chamaria, Rajendra Chamaria, Renu Chamaria, and Sachin Chamaria exited Star Cement by selling their personal shareholdings. UltraTech had previously approved an investment to acquire a non-controlling minority stake of up to 3.7 crore equity shares of Star Cement at a price of up to Rs 235 per share. Universal Autofoundry Himalaya Finance & Investment Co sold a 2.4% stake in the company at an average price of Rs 98 per share, and ace investor Ashish Rameshchandra Kacholia offloaded a 2.46% stake at an average price of Rs 98.01 per share. However, promoters Vikram Jain and Vinit Jain bought a 4.8% stake in their company at an average price of Rs 98 per share. Garuda Construction and Engineering Investor Utpal H Sheth has bought a 0.51% stake in Garuda Construction at an average price of Rs 128.49 per share. Newmalayalam Steel Neomile Corporate Advisory and Neomile Growth Fund - Series I bought a 1.7% stake in the company at an average price of Rs 90 per share. Sanathan Textiles Societe Generale has net bought a 0.77% stake in the yarn manufacturer at an average price of Rs 401.42 per share. Concord Enviro Systems Morgan Stanley Asia Singapore Pte sold a 0.53% stake in Concord Enviro at an average price of Rs 827.51 per share, and State Bank of India offloaded a 1.33% stake at an average price of Rs 820.59 per share. Mainboard Listing on December 30 Senores Pharmaceuticals, Ventive Hospitality, Carraro India Stock Trades Ex-Bonus Banco Products India Stock Trades Ex-Date for Resolution Plan - Suspension SR Industries

2024-12-29 21:49

2024-12-29

21:49

moneycontrol.com

https://www.moneycontrol.com/news/world/netanyahu-getting-his-prostate-removed-as-he-faces-crises-on-multiple-fronts-12899753.html

Netanyahu getting his prostate removed as he faces crises on multiple fronts

Netanyahu getting his prostate removed as he faces crises on multiple fronts.Related stories.

Israeli Prime Minister Benjamin Netanyahu is having his prostate removed on Sunday, his office said, a procedure that comes as he manages multiple crises at once, including the ongoing war in Gaza and his own trial for alleged corruption. Netanyahu, 75, is among a cohort of older world leaders, including US President Joe Biden, 82, and President-elect Donald Trump, 78, whose health and physical fitness are under deep scrutiny both at home and abroad because of their advanced age and the effect that could have on their leadership. Netanyahu, who has had a string of health issues in recent years, has gone to great lengths to bolster a public image of himself as a healthy, energetic leader. During his trial this month he boasted about working 18-hour days, even if those long hours are accompanied by a cigar. But as Israel's longest-serving leader, such a gruelling workload over a total of 17 years in power could also take a toll on his well-being. The procedure has already had a fallout: Netanyahu's lawyer Amit Hadad said in a letter to the court the Israeli prime minister would be fully sedated for the procedure and would be hospitalised for “a number of days," asking that his three days of testimony this week be cancelled. The court agreed. Netanyahu's office said that Justice Minister Yariv Levin, a close Netanyahu ally, would serve as acting prime minister during the procedure. With so much at stake in the turbulent region, Netanyahu's health in wartime is a concern for both Israelis and the wider world. Prostate issues are common for older men, and recovery can be quick According to Netanyahu's office, the Israeli leader was diagnosed with a urinary tract infection on Wednesday stemming from a benign enlargement of his prostate. The infection was treated successfully with antibiotics but a procedure on Sunday will remove his prostate. Complications from prostate enlargement are common in men in their 70s and 80s, Dr. Shay Golan, head of the oncology urology service at Israel's Rabin Medical Center, told Israeli Army Radio. Golan spoke in general terms about the procedure and was not involved in Netanyahu's care or treatment. He said that an enlarged prostate can block proper emptying of the bladder, leading to a build-up of urine that can then lead to an infection or other complications. After medicinal treatment, doctors can recommend a procedure to remove the prostate to prevent future blockages, Golan said. In Netanyahu's case, because the prostate is not cancerous, Golan said doctors will likely perform an endoscopic surgery, which is carried out by inserting small instruments into a body cavity, rather than making any surgical cuts in the abdomen to reach the prostate. The procedure lasts about an hour, Golan said, and recovery is quick. Golan also said that aside from catheter use for one to three days after the procedure, patients can return to normal activity without any significant limitations. Netanyahu has had some health issues before, including a heart condition Netanyahu insists he is in excellent health and his office has worked to craft a public image that backs that up. It releases footage of him touring war zones in full protective gear flanked by gruff military officers, or meeting with defense officials on windswept hilltops in youthful dark shades and puffer jackets. But that image was shattered last year when Netanyahu's doctors revealed that he had a heart condition, a problem that he had apparently long known about but concealed from the public. A week after a fainting spell, Netanyahu was urgently fitted with a pacemaker to control his heartbeat. Only then did staff at the Sheba Medical Center reveal that Netanyahu has for years experienced a condition that can cause irregular heartbeats. That revelation came at a time when Netanyahu was dealing with massive anti-government protests. The news about a chronic heart problem stoked further anger and distrust at a time of extreme political polarization in Israel. Last year, Netanyahu was rushed to the hospital for what doctors said likely was dehydration, where he stayed overnight, prompting his weekly Cabinet meeting to be delayed. Earlier this year, Netanyahu underwent hernia surgery, during which he was under full anesthesia and unconscious. His close confidant, Justice Minister Yariv Levin, served as acting prime minister during the operation. The surgery comes at a turbulent time in the region As Israel's leader, Netanyahu is at the centre of major global events that are shifting the Middle East. With the dizzying pace of the past 14 months, being incapacitated for even a few hours can be risky in the current regional maelstrom. Netanyahu will be in hospital at a time when international mediators are pushing Israel and Hamas to reach a ceasefire in Gaza as violence there rages on and fighting between Israel and Yemen's Iran-backed Houthi rebels intensifies. The health issue also shines a new light on Netanyahu's age. Prostate issues are common and in many cases easily treatable. But they are prominent especially among older men. The procedure puts a dent in Netanyahu's image of vigor at a time when he would want to project strength more than ever, both to an Israeli audience navigating constant threats as well as to Israel's enemies looking to expose Israel's weaknesses.

2024-12-29 21:40

2024-12-29

21:40

moneycontrol.com

https://www.moneycontrol.com/news/india/isro-to-demonstrate-docking-of-satellites-in-space-in-january-launch-on-monday-12899747.html

ISRO to demonstrate docking of satellites in space in January, launch on Monday

The SpaDEx mission is expected to be a stepping stone for India's future endeavours in space exploration which include getting rocks and soil from the moon on Earth, the proposed Bharatiya Antariksha Station and landing an astronaut on the lunar surface..Related stories.

ISRO is set to launch two satellites on Monday night from the Sriharikota spaceport to demonstrate docking and undocking of spacecraft in orbit, which will make India the fourth country in the world to achieve the feat. The Indian Space Research Organisation’s (ISRO) warhorse rocket Polar Satellite Launch Vehicle (PSLV) will place the two satellites — SDX01 and SDX02 — in a 476-km circular orbit and attempt the Space Docking Experiment (SpaDEx) in the first week of January, the space agency officials said.”This mission will mark India’s entry into the exclusive league of nations capable of mastering space docking,” Union Science and Technology Minister Jitendra Singh said. The SpaDEx mission is expected to be a stepping stone for India’s future endeavours in space exploration which include getting rocks and soil from the moon on Earth, the proposed Bharatiya Antariksha Station and landing an astronaut on the lunar surface.Only the US, Russia and China have mastered space docking technologies.”The primary objective of the SpaDeX mission is to develop and demonstrate the technology needed for rendezvous, docking, and undocking of two small spacecraft (SDX01, which is the Chaser, and SDX02, the Target) in a low-Earth circular orbit,” an ISRO official said. The secondary objective of the mission includes demonstration of the transfer of electric power between the docked spacecraft, which is essential for future applications such as in-space robotics; composite spacecraft control and payload operations after undocking.”This capability is vital for India’s lunar and interplanetary missions. Docking technology enables multi-launch missions and supports future human spaceflight,” Singh said. After the demonstration of docking and undocking experiments, the two satellites will continue to orbit the Earth for standalone missions for two years.The SDX01 satellite is equipped with a High Resolution Camera (HRC) and SDX02 has two payloads — Miniature Multispectral (MMX) payload and Radiation Monitor (RadMon).These payloads will provide high-resolution images, natural resource monitoring, vegetation studies and on-orbit radiation environment measurements which have numerous applications, ISRO said. The PSLV-C60 mission also carries 24 payloads from various ISRO labs, private start-ups and educational institutions for carrying out experiments in space.These 24 payloads are mounted on the fourth stage of the PSLV rocket which remains in orbit for a few weeks before falling back on the Earth.PS4-Orbital Experiment Module (POEM) provides an opportunity for the scientific community to carry out certain in-orbit microgravity experiments for an extended duration of up to three months using the platform, which otherwise would end up as space debris immediately after the mission objective of injecting the primary payloads of the mission.

2024-12-29 21:23

2024-12-29

21:23

moneycontrol.com

https://www.moneycontrol.com/technology/portronics-launches-thunder-2-0-tws-speaker-with-rgb-lights-price-features-and-more-article-12899488.html

Portronics launches Thunder 2.0 TWS Speaker with RGB lights: Price, features and more

PORTRONICS Thunder 2.

Portronics has introduced its latest portable wireless speaker, the Thunder 2.0 TWS, which enhances entertainment with powerful sound and RGB lighting. The device is designed for use in various settings, such as outdoor gatherings or home events, and features a durable design with IPX6 water resistance. The Thunder 2.0 delivers 60W audio output, combining twin tweeters, dual bass drivers, and passive radiators for an immersive listening experience. The side-mounted bass radiators are equipped with RGB ring lights that synchronize with music playback, adding visual effects to its audio performance. The speaker’s cylindrical design and compact body make it suitable for travel or use in different environments. Users can pair two Thunder 2.0 units using TWS (True Wireless Stereo) technology to expand the sound for larger gatherings or multi-room setups. Music can be streamed via Bluetooth 5.3 or played directly from a USB drive. The speaker also supports connection to TVs or projectors, making it suitable for home entertainment purposes. The Thunder 2.0 offers up to six hours of playback on a single charge and supports USB-C fast charging. Its portability and compatibility with multiple devices make it versatile for various use cases. The speaker is priced at Rs 5,699 and comes with a 12-month warranty. It is available for purchase through Portronics’ official website, online platforms like Amazon and Flipkart, and offline retail stores.

2024-12-29 21:03

2024-12-29

21:03

moneycontrol.com

https://www.moneycontrol.com/news/world/china-unveils-world-s-fastest-high-speed-train-prototype-to-travel-at-450-kmph-12899745.html

China unveils world's fastest high-speed train prototype, to travel at 450 kmph

According to the China State Railway Group Co (China Railway), the new model, known as the CR450 prototype, will further shorten travel time and improve connectivity, making travel more convenient and efficient for the country's vast passengers. (Photo: Xinhua).

China on Sunday unveiled an updated model of its high-speed bullet train which its manufacturer claims reached speeds of 450 kmph during the test runs, making it the world’s fastest high-speed train. According to the China State Railway Group Co (China Railway), the new model, known as the CR450 prototype, will further shorten travel time and improve connectivity, making travel more convenient and efficient for the country’s vast passengers. The CR450 prototype reached a test speed of 450 kmph, with key performance indicators — operational speed, energy consumption, interior noise, and braking distance — setting a new international benchmark, official media here reported. It is significantly faster than the CR400 Fuxing high-speed rail (HSR) currently in service, which operates at speeds of 350 kmph, a report by state-run Xinhua said. China Railway will arrange a series of line tests for the prototypes and optimise technical indicators to ensure the CR450 enters commercial service as soon as possible, it said. According to the latest official figures, China’s operational HSR tracks have reached about 47,000 kms, connecting major cities in the country. Though not profitable, China says the HSR network expansion has played a crucial role in the nation’s economic and social development, reducing travel times and boosting industrial development along railway routes. According to internal surveys, the Beijing-Shanghai train service was the most profitable, while the networks in other cities have yet to turn lucrative. In recent years, China’s HSR exported its network in Thailand and Indonesia, and built the Belgrade-Novi Sad HSR in Serbia.

2024-12-29 20:46

2024-12-29

20:46

moneycontrol.com

https://www.moneycontrol.com/news/india/mother-son-duo-in-ncr-turn-digital-arrest-scammers-retired-engineer-duped-of-rs-1-4-crore-12899744.html

Mother-son duo in NCR turn digital arrest scammers; retired engineer duped of Rs 1.4 crore

The fraudsters, posing as FedEx courier staff and officers from Mumbai Police's cyber crime division, falsely claimed that his Aadhaar card details had been compromised and were linked to money laundering activities..Related stories.

The Odisha Crime Branch on Sunday arrested a mother-son duo from Ghaziabad, Uttar Pradesh, for allegedly duping a senior citizen in a ₹1.37 crore digital fraud case. The accused, identified as Anita Malhotra and her son Anurag, were taken into custody following an extensive investigation. The victim, a retired engineer from the Public Works Department residing in Bhubaneswar, fell victim to a 'digital arrest' scam. The investigation into the case was initiated in May, leading to the collection of substantial evidence. On Thursday, a team led by Inspector Anila Anand arrested the accused, Neelam Aggarwal (52) and her son Vansh Aggarwal (26). They were transported to Odisha the following day. According to the victim's complaint, he was contacted by the scammers on May 22 using various phone numbers. The fraudsters, posing as FedEx courier staff and officers from Mumbai Police's cyber crime division, falsely claimed that his Aadhaar card details had been compromised and were linked to money laundering activities. They threatened the elderly man with a potential prison sentence of three to seven years unless he acted quickly. Under duress, the victim transferred his life savings, totaling Rs 1,37,90,000, from both his and his wife's accounts at the State Bank of India in five transactions between May 14 and 18. The investigation revealed that the funds were deposited into three separate bank accounts, with Rs 1.12 crore going to an account linked to Vanshneel Software Private Limited, owned by Neelam and Vansh. Further inquiries indicated that the mother-son duo had opened approximately 13 different bank accounts across various branches of Punjab National Bank and State Bank of India in Meerut, Uttar Pradesh, to facilitate their fraudulent activities. Both individuals had previously been arrested by the Mandir Marg Cyber police station in New Delhi for their involvement in a similar scam that defrauded victims of Rs 63 lakh. Additionally, reports indicate that Neelam and Vansh are implicated in more than 15 cases of cyber fraud across multiple states in India.

2024-12-29 20:40

2024-12-29

20:40

moneycontrol.com

https://www.moneycontrol.com/budget/budget-2025-26-cii-calls-for-cut-in-excise-duty-on-fuel-consumption-vouchers-to-stir-demand-article-12899742.html

Budget 2025-26: CII calls for cut in excise duty on fuel, consumption vouchers to stir demand

The budget could also consider reducing marginal tax rates for personal income up to Rs 20 lakh per annum. This would help trigger the virtuous cycle of consumption, higher growth and higher tax revenue, said CII..Related stories.

Industry body CII in its budget suggestions for 2025-26 has recommended lowering the excise duty on fuel to boost consumption, especially at the lower income level, arguing that fuel prices significantly drive inflation. Thebudgetcould also consider reducing marginal tax rates for personal income up to Rs 20 lakh per annum. This would help trigger the virtuous cycle of consumption, higher growth and higher tax revenue, said CII. Asserting that the gap between the highest marginal rate for individuals at 42.74 per cent and the normal Corporate Tax Rate at 25.17 per cent, is high, it said, inflation has reduced the buying power of lower and middle-income earners. ”The central excise duty alone accounts for approximately 21 per cent of the retail price for petrol and 18 per cent for diesel. Since May 2022, these duties have not been adjusted in line with the approximately 40 per cent decrease in global crude prices. Lowering excise duty on fuel would help reduce overall inflation and increase disposable incomes,” the industry body said. Chandrajit Banerjee, Director General, CII, said domestic consumption has been critical to India’s growth story, but inflationary pressures have somewhat eroded the purchasing power of consumers. ”Government interventions could focus on enhancing disposable incomes and stimulating spending to sustain economic momentum. Persistent food inflationary pressures particularly impinge upon low-income rural households who allocate larger share to food in their consumption basket”, he added. According to him, while recent quarters have shown promising signs of recovery in rural consumption, targeted government interventions, such as increasing per unit benefit under its key schemes like MGNREGS, PM-KISAN and PMAY, and providing consumption vouchers to low-income households, can further enhance the rural recovery. In its pre-budget proposals, CII has also recommended an increase in the daily minimum wage under the MGNREGS from Rs 267 to Rs 375 as suggested by the ‘Expert Committee on Fixing National Minimum Wage’ in 2017, with the industry body estimating that this will entail an additional expenditure of Rs 42,000 crore. Further, it urged the government to raise the annual payout under the PM-KISAN scheme from Rs 6,000 to Rs 8,000. Assuming 10 crore beneficiaries, this will entail an additional expenditure of Rs 20,000 crore, CII said. The Confederation of Indian Industry (CII) also sought an increase in the unit costs under the PMAY-G and PMAY-U schemes, which have not been revised since the scheme’s inception. The CII suggested the introduction of consumption vouchers, targeted at low-income groups to stimulate demand for specified goods and services over a designated period. The vouchers could be designed to be spent on designated items (specific goods and services) and could be valid for a designated time (like 6-8 months), to ensure spending. The beneficiary criteria can be defined as Jan-Dhan account holders who are not beneficiaries of other welfare schemes.

2024-12-29 19:54

2024-12-29

19:54

moneycontrol.com

https://www.moneycontrol.com/technology/vivo-y29-5g-vs-redmi-13-5g-how-the-two-budget-phones-compare-in-terms-of-performance-camera-and-battery-article-12899738.html

Vivo Y29 5G vs Redmi 13 5G: How the two budget phones compare in terms of performance, camera and battery

Vivo Y29 vs Redmi 13.

Vivo has just launched its budget smartphone – Y29 5G – in India. The handset comes with some impressive features like a 5500mAh battery with fast charging support, a 50MP camera and an array of RAM and storage options to give users the freedom to choose the variant they want. On the other hand, the Xiaomi Redmi 13 5G is there which is priced similarly as the Y29 and it also comes with features that are pretty comparable as well. To help make an informed decision, provided you are planning to buy a smartphone in abudgetof Rs 15,000 or slightly more, we’ve compared both phones in detail. Read on to know which is the right phone for you. Vivo Y29 vs Redmi 13 5G: Price Vivo Y29 5G price starts at Rs 13,999. However, the Redmi 13 5G price starts at Rs 12,999 which makes it Rs 1000 cheaper than the Y29 5G. Vivo Y29 vs Redmi 13 5G: Design and build The Redmi 13 5G comes with Corning Gorilla Glass 3 protection, an IP53 rating for dust and splash resistance, and weighs 205 grams. It comes in Black, Diamond, Hawaiian Blue, and Orchid Pink.The Vivo Y29 5G is slightly lighter at 198 grams and features an IP64 rating for better water resistance. It has a composite plastic back and comes in Glacier Blue, Titanium Gold, and Diamond Black. Vivo Y29 vs Redmi 13 5G: DisplayRedmi 13 5G boasts a larger 6.79-inch FHD+ display with AdaptiveSync for a refresh rate of up to 120Hz and a touch sampling rate of 240Hz. Its peak brightness is 550 nits. Vivo Y29 5G has a smaller 6.68-inch LCD display with similar refresh rate options (60Hz, 90Hz, and 120Hz) but a lower resolution of 1608 × 720 pixels and a pixel density of 264 PPI. Vivo Y29 vs Redmi 13 5G: Camera The Redmi 13 5G features a dual rear camera setup with a 108MP primary sensor and a 2MP macro lens. On the front, it offers a 13MP selfie camera. It supports features like Night Mode, Portrait, and 108MP mode. Vivo Y29 5G comes with a 50MP primary rear sensor and a secondary 0.08MP lens. Its front camera is 8MP. The device also supports modes like Night, Portrait, and Pro photography. Vivo Y29 vs Redmi 13 5G: Battery and charging Redmi 13 5G is equipped with a 5030mAh battery, supporting 33W fast charging via USB-C.Vivo Y29 5G packs a larger 5500mAh battery with faster 44W charging, also through USB-C. Vivo Y29 vs Redmi 13 5G: Performance and storage Redmi 13 5G runs on the Snapdragon 4 Gen 2 AE processor, paired with 6GB or 8GB of RAM and 128GB UFS 2.2 storage, expandable up to 1TB via a hybrid slot.Vivo Y29 5G is powered by the Dimensity 6300 chipset, with RAM and storage options ranging from 4GB + 128GB to 8GB + 256GB. It also supports up to 1TB expandable storage. Vivo Y29 vs Redmi 13 5G: Software The Redmi 13 5G operates on Android 14 with Xiaomi’s HyperOS, offering two major Android updates and four years of security patches. Vivo Y29 5G runs on Android 14 with Funtouch OS 14. Vivo Y29 vs Redmi 13 5G: Connectivity Both devices support dual 5G SIM, Wi-Fi, Bluetooth, and GPS. The Redmi 13 5G offers Bluetooth 5.0, while the Vivo Y29 5G supports the newer Bluetooth 5.4 standard. Vivo Y29 vs Redmi 13 5G: Other Features Redmi 13 5G includes a 3.5mm headphone jack, side-mounted fingerprint sensor, and IR blaster. Vivo Y29 5G lacks the IR blaster but retains the headphone jack and side-mounted fingerprint scanner.

2024-12-29 19:45

2024-12-29

19:45

moneycontrol.com

https://www.moneycontrol.com/news/india/himanta-congress-trade-barbs-on-disrespect-to-manmohan-singh-over-funeral-venue-12899736.html

Himanta, Congress trade barbs on 'disrespect' to Manmohan Singh over funeral venue

Assam Chief Minister Himanta Biswa Sarma.Related stories.

Assam Chief Minister Himanta Biswa Sarma on Sunday accused the Congress of attempting to stir a controversy over the cremation of former prime minister Manmohan Singh, despite the Centre announcing a “fitting memorial” to honour his legacy. The opposition party hit back at the CM, claiming that Assam government programmes were hosted even when Singh’s funeral was underway in New Delhi on Saturday, in violation of the seven-day state mourning. Sarma said it was not the first time that the Congress has "shown such disregard – be it towards the legacy of Narasimha Rao or Pranab Mukherjee, the party has, unfortunately, treated its own with indifference”. The CM’s remarks came after the Congress accused the Centre of insulting Singh, the country's first Sikh prime minister, by performing his last rites at Nigambodh Ghat instead of a designated spot that could be turned into his memorial. Leader of Opposition in the Lok Sabha Rahul Gandhi had said the BJP-led Centre had "totally insulted" Singh by performing his last rites at Nigambodh Ghat. The BJP maintained that the government under Prime Minister Narendra Modi had allocated space for Singh's memorial and also informed his family about it, and accused the Congress of indulging in "cheap politics" over the former PM’s cremation. "Dr Manmohan Singh, a statesman of unparalleled dignity and intellect, deserved much better, both in life and in death. It is deeply disheartening to witness the Congress Party attempting to stir controversy around his final journey, diminishing the solemnity it truly deserved," Sarma said in a post on X. The BJP leader said the people of India have bid Singh, who was a Rajya Sabha MP from Assam for over two decades, including during his tenure as PM, a respectful and heartfelt farewell, recognising his invaluable contributions to the nation. "Prime Minister @narendramodi Ji has already announced a fitting memorial to honour his legacy, reflecting the nation's gratitude. Yet, the actions of some, who seek to turn this moment of mourning into an opportunity for political gain, are deeply painful," Sarma said. "The public still remembers the indignities inflicted upon Dr Singh during his tenure, including Rahul Gandhi's infamous gestures that undermined his stature. Such actions remain etched in the nation's memory," he said. Sarma, who was with the Congress before joining the saffron party, asserted that after his death, Singh's “legacy should not be sullied by political opportunism”. "Let us honour his memory with the dignity and respect he so richly deserves, free from any discord or manipulation by the leadership of the congress party," the CM added. Meanwhile, Leader of Opposition in the state assembly Debabrata Saikia, in a letter to Prime Minister Narendra Modi, alleged that the state government disrespected the legacy of Singh on the very day of his funeral. “The Government of Assam, including its officials, were found to be organising and celebrating scheme launches and programmes at the same time when late Dr Manmohan Singh’s funeral was on and you were attending the funeral,” Saikia said in the letter on Sunday. He said such events could have been postponed, but the state government was “acting as it was business as usual”. “This act is very unfortunate while state mourning was declared by the Union cabinet presided by you,” Saikia said. He pointed out that other states like Jharkhand and Uttar Pradesh cancelled scheduled programmes as a mark of mourning. “… I pray to the conscience of yours to kindly treat this matter with utmost importance and see to it that the State of Assam does duly observe mourning and pays due homage to the legacy of the late Dr Manmohan Singh,” the Congress leader added.

2024-12-29 19:38

2024-12-29

19:38

moneycontrol.com

https://www.moneycontrol.com/news/india/india-not-lucky-on-security-front-stay-vigilant-against-enemies-rajnath-singh-to-armymen-12899730.html

India not ‘lucky’ on security front, stay vigilant against enemies: Rajnath Singh to Armymen

Defence Minister Rajnath Singh.

Defence Minister Rajnath Singh on Sunday termed India a “not very lucky” nation on the security front and urged soldiers to keep a sharp eye on internal and external foes who he said are always active. He was addressing Army personnel at the more-than-two-century-old Mhow cantonment in the Indore district of Madhya Pradesh.“Taking the security scenario into account, Bharat is not a very lucky country because our northern border and western border continuously face challenges,” said Singh, who is on a two-day tour of the state. Mhow cantonment, 25 km from Indore, is home to three premier training institutes – Army War College, Military College of Telecommunication Engineering and Infantry School – other than the Infantry Museum and Army Marksmanship Unit. “We also face challenges on the internal front. In the backdrop of this, we can’t sit quiet, unconcerned. Our enemies, whether internal or external, remain active always. In these circumstances, we must keep a close eye on their activities and take appropriate and timely effective steps against them,” he told the Armymen. To make Bharat a developed and self-reliant country by 2017, the role of the Army is very crucial, said the defence minister. “.. as the country’s defence minister, I would like to tell you that we should be alert always. This patch of time, though often referred to as peacetime, struck me deeply when I arrived and witnessed the discipline and dedication with which you are undergoing training. Your regimen is no less than that of a war,” he told the gathering. “To maintain such a level of discipline, dedication and firm conviction are needed,” he added. Singh said he was impressed by the cleanliness at the Army establishments and cantonments across the country. “Your dedication to work inspires me. I can say that the most appealing thing is your devotion towards work and sense of responsibility. It is inspiring to all of us,” Singh said.Earlier, Singh along with the Chief of Army Staff General Upendra Dwivedi paid floral tributes at the memorial of Dr B R Ambedkar at Mhow. The memorial of Ambedkar, the chief architect of India’s Constitution, has been built at his birthplace in the Kali Paltan area of Mhow cantonment.

2024-12-29 19:30

2024-12-29

19:30

moneycontrol.com

https://www.moneycontrol.com/news/business/india-australia-goods-trade-slows-to-16-3-billion-in-fy25-so-far-12899729.html

India, Australia goods trade slows to $16.3 billion in FY25 so far

India and Australia are currently engaged in discussions to expand the existing trade deal.Related stories.

Total merchandise trade between India and Australia moderated to $16.3 billion in the current fiscal till November, which is 4.23 percent lower than the figures for the year-before period. India and Australia implemented an interim trade deal called the Economic Cooperation and Trade Agreement (ECTA) on December 29, 2022. Since the signing of the deal, bilateral merchandise trade between the two nations had more than doubled, surging from $12.2 billion in 2020-21 to $26 billion in 2022-23, the commerce ministry said in a statement on December 29. However, goods trade witnessed a slowdown in 2023-24 too to $24 billion, though India’s exports to Australia grew by 14 percent during this period. In the statement marking the completion of two years the India-Australia ECTA, India's commerce ministry said, sectors like textiles, chemicals, and agriculture have shown substantial growth, while exports on new lines, including gold studded with diamonds and turbojets highlighted the diversification enabled by the agreement. "Imports of essential raw materials, such as metalliferous ores, cotton, wood and wood products have fuelled India’s industries, contributing to the win-win nature of this partnership. Sectors such as electronics and engineering have room for growth," the ministry said. The two nations have started exchanging crucial data that revealed export utilisation at 79 percent, while for imports it stood at 84 percent, according to the statement. The two sides are currently negotiating for a Comprehensive Economic Cooperation Agreement (CECA) with 10 formal rounds and inter-sessional discussions held so far. CECA builds on the foundation laid by the ECTA, advancing the bilateral trade agenda between the two sides. A stocktake visit on India-Australia CECA was also recently concluded in New Delhi from December 4-6 2024 to assess the progress made and chart the path forward. "Both the parties are committed to building on the momentum created by the ECTA, driving deeper economic integration and to achieve the target of trade to reach AUD100 billion by 2030 between India and Australia," the commerce ministry said.

2024-12-29 19:27

2024-12-29

19:27

moneycontrol.com

https://www.moneycontrol.com/news/business/physical-relations-cannot-automatically-mean-sexual-assault-delhi-hc-12899735.html

'Physical relations' cannot automatically mean sexual assault: Delhi HC

A minor was found in Faridabad with an accused, who was convicted for rape under IPC and penetrative sexual assault under POCSO in December 2023 and sentenced to life imprisonment..Related stories.

The Delhi High Court has acquitted a man in a POCSO case, saying the use of phrase 'physical relations' by the minor survivor cannot automatically mean sexual assault. A bench of Justices Prathiba M Singh and Amit Sharma allowed the appeal by the accused, who was awarded imprisonment for the remainder of his life, and observed that it was unclear how the trial court concluded that there was any sexual assault when the survivor had voluntarily gone with the accused. The court asserted that the leap from physical relations or 'samband' to sexual assault and then to penetrative sexual assault must be established by evidence and cannot be deduced as an inference. "The mere fact that the survivor is below 18 years cannot lead to a conclusion that there was penetrative sexual assault. The survivor, in fact, used the phrase 'physical relations', but there is no clarity as to what she meant by using the said phrase," the court said in the judgement passed on December 23. "Even the use of the words 'samband banaya' is not sufficient to establish an offence under Section 3 of the POCSO Act or under Section 376 IPC. Though consent would not matter if the girl is a minor under the POCSO Act, the phrase 'physical relations' cannot be converted automatically into sexual intercourse let alone sexual assault," it held. The court said the benefit of doubt ought to be in favour of the accused and, therefore, ruled, "The impugned judgement completely lacks any reasoning and also does not reveal or support any rationale for the conviction. Under such circumstances, the judgement is liable to be set aside. The appellant is acquitted." The complaint in this case was lodged in March 2017 by the minor girl's mother, alleging that her 14-year-old daughter had been lured and kidnapped from her home by an unknown person. The minor was found in Faridabad along with the accused, who was arrested and subsequently convicted for offence of rape under IPC and penetrative sexual assault under POCSO in December 2023 and later awarded imprisonment for the remainder of his life.

2024-12-29 19:26

2024-12-29

19:26

moneycontrol.com

https://www.moneycontrol.com/news/india/sabarimala-temple-to-reopen-for-makaravilakku-festival-on-december-30-12899733.html

Sabarimala temple to reopen for makaravilakku festival on December 30

Sabarimala temple to reopen for makaravilakku festival on December 30.

The Sabarimala Lord Ayyappa temple will reopen on Monday for this year’s makaravilakku festival, the temple authorities said. The temple will be opened at 4 pm by Melshanthi S Arun Kumar Namboothiri, in the presence of the head priest, Tantri Kandararu Rajeevaru. Pilgrims can ascend the sacred 18 steps for darshan after the Melshanthi performs the ceremonial lighting of the fire at the fireplace (aazhi) in the sanctum. The temple was earlier closed on December 26 at 10 pm following the mandala puja, accompanied by the recitation of Harivarasanam. Thousands witnessed the mandala puja, marking the culmination of the 41-day-long first leg of the annual pilgrimage season.

2024-12-29 19:12

2024-12-29

19:12

moneycontrol.com

https://www.moneycontrol.com/news/india/justice-gurmeet-singh-sandhawalia-sworn-in-as-new-chief-justice-of-himachal-hc-12899732.html

Justice Gurmeet Singh Sandhawalia sworn in as new chief justice of Himachal HC

Himachal Pradesh , New chief, Justice Gurmeet Singh Sandhawalia..

Justice Gurmeet Singh Sandhawalia was sworn in as the new chief justice of the Himachal Pradesh High Court in a ceremony held at Raj Bhavan here on Sunday. He was administered the oath of office by Governor Shiv Pratap Shukla and the ceremony was also attended by Chief Minister Sukhvinder Singh Sukhu. After taking the oath, Justice Sandhawalia expressed that Himachal Pradesh felt like home to him. "Himachal Pradesh is a relatively small state with fewer criminal cases, with most cases being related to services and civil matters. I will work collaboratively to resolve cases as quickly as possible," he said. While extending his congratulations to the new Chief Justice, Sukhu said, "I am confident that his extensive experience and vision will greatly benefit Himachal Pradesh and further elevate the essence of justice." He also expressed hope that Justice Sandhawalia's judicial acumen will contribute significantly to upholding the principles of justice in the state. Born on November 1, 1965, Justice Sandhawalia completed BA (Hons) from Chandigarh's DAV College in 1986 and earned his LLB from Panjab University in Chandigarh, in 1989. After completing his education, he was enrolled as an advocate with the Bar Council of Punjab and Haryana, Chandigarh. On February 4, 2024, he took charge as the acting Chief Justice of the Punjab and Haryana High Court.

2024-12-29 19:10

2024-12-29

19:10

moneycontrol.com

https://www.moneycontrol.com/news/india/high-employee-attrition-of-25-in-private-banks-pose-operational-risk-rbi-report-12899731.html

High employee attrition of 25% in private banks pose operational risk: RBI Report

High employee attrition of 25% in private banks pose operational risk: RBI Report.Related stories.

Employee attrition in private sector banks has witnessed an increase to about 25 per cent and this high turnover rate poses significant operational risk, according to the latest Report on Trend and Progress of Banking in India 2023-24. Employee attrition rates are high across select private sector banks and small finance banks (SFBs), the report, which was released by the Reserve Bank of India (RBI) said. The total number of employees of private banks surpassed that of public sector banks (PSBs) during 2023-24, but their attrition has increased sharply over the last three years, with average attrition rate of around 25 per cent, it said. "High attrition and employee turnover rate pose significant operational risks, including disruption in customer services, besides leading to loss of institutional knowledge and increased recruitment costs. In various interactions with banks, the Reserve Bank has stressed that reducing attrition is not just a human resource function but a strategic imperative," it said. Banks need to implement strategies like improved onboarding processes, providing extensive training and career development opportunities, mentorship programmes, competitive benefits, and a supportive workplace culture to build long-term employee engagement, it said. In view of several irregularities observed in grant of loans against gold ornaments and jewellery, including top-up loans, the Reserve Bank advised supervised entities to comprehensively review their policies, processes and practices on gold loans to identify gaps and initiate appropriate remedial measures in a time-bound manner. Supervised entities were advised to closely monitor their gold loan portfolios and ensure adequate controls over outsourced activities and third-party service providers, it said. The report said climate change risks are envisaged to impact profitability of financial institutions, growth prospects, and inflation dynamics and, thus, impinge upon financial stability and price stability. To foster assessment of these concerns by regulated entities, regulatory and supervisory frameworks need to be strengthened with enhanced risk management guidelines, disclosure requirements, periodic stress testing, and stipulating reasonable verification and assurance functions, it added.

2024-12-29 18:56

2024-12-29

18:56

moneycontrol.com

https://www.moneycontrol.com/news/world/experts-question-bird-strike-as-cause-of-deadly-south-korean-plane-crash-12899726.html

Experts question bird strike as cause of deadly South Korean plane crash

The apparent absence of landing gear, the timing of the twin-engine Boeing 737-800's belly-landing at Muan International Airport and the reports of a possible bird strike all raised questions that could not yet be answered.Related stories.

Uncertainties surround the deadliest crash on South Korean soil, experts said on Sunday, questioning initial suggestions that a bird strike might have brought down the Jeju Air flight. The apparent absence of landing gear, the timing of the twin-engine Boeing 737-800's belly-landing at Muan International Airport and the reports of a possible bird strike all raised questions that could not yet be answered. The single-aisle aircraft was seen in video broadcast on local media skidding down the runway with no visible landing gear before slamming into a wall in an explosion of flame and debris. "Why didn't fire tenders lay foam on the runway? Why weren't they in attendance when the plane touched down? And why did the aircraft touch down so far down the runway? And why was there a brick wall at the end of the runway?" said Airline News editor Geoffrey Thomas. South Korean officials said they were investigating the cause of the crash of Jeju Air Flight 7C2216, including a possible bird strike. The crash killed 179 of the 181 people on board. A spokesperson for Jeju Air was not immediately available for comments. Jeju Air declined to comment on the cause of the accident during news conferences, saying an investigation is under way. Under global aviation rules, South Korea will lead a civil investigation into the crash and automatically involve the National Transportation Safety Board in the United States where the plane was designed and built. The flight data recorder was found at 11:30 a.m. (0230 GMT), about two and a half hours after the crash, and the cockpit voice recorder was found at 2:24 p.m., according to South Korea's transport ministry. "That gives you all the parameters of all the systems of the plane. The heartbeat of the airplane is on the flight data recorder," Thomas said. "The voice recorder will probably provide the most interesting analysis of what went on on this tragic crash." Experts caution that air accidents are usually caused by a cocktail of factors and it can take months to piece together the sequence of events in and outside the plane. CHAIN OF EVENTS In the space of a few minutes, the control tower issued a bird strike warning, pilots declared mayday and then attempted to land, officials said, although it was not clear whether the aircraft had hit any birds.Experts said it seemed unlikely a bird strike would have caused the landing gear to malfunction. "A bird strike is not unusual, problems with an undercarriage are not unusual. Bird strikes happen far more often, but typically they don't cause the loss of an airplane by themselves," Thomas said. Australian airline safety expert Geoffrey Dell said, "I've never seen a bird strike prevent the landing gear from being extended." Australian aviation consultant Trevor Jensen said fire and emergency services would normally be ready for a belly-landing, "so this appears to be unplanned". A bird strike could have impacted the CFM International engines if a flock had been sucked into them, but that would not have shut them down straightaway, giving the pilots some time to deal with the situation, Dell said. It was unclear why the plane did not decelerate after it hit the runway, Dell and Jensen said. Typically in a belly-landing, "You are going to land on your engines and you're going to have a bumpy ride," Thomas said. "You come in with minimum fuel, you have fire tenders in attendance, covering the runway with foam and you land at the furthest end of the runway and usually it ends up being an OK situation." After the control tower issued the bird strike warning and the pilots declared mayday, the pilots attempted to land on the runway from the opposite direction, a transport ministry official said. "In the process of landing it hit a navigation safety facility called a localizer and collided with the wall," the official said. Joo Jong-wan, deputy transport minister, said the runway's 2,800-metre length was not a contributing factor, and that the walls at the ends had been built according to standards. “Both ends of the runway have safety zones with green buffer areas before reaching the outer wall," he told a separate briefing. "The airport is designed according to standard aviation safety guidelines, even if the wall may appear closer than it actually is.” The captain had worked at that rank since 2019 and had logged 6,823 flight hours, the ministry said. The first officer had worked at that rank since 2023 and had logged approximately 1,650 flight hours. The Boeing model involved in the crash, a 737-800, is one of the world’s most flown airliners with a generally strong safety record and was developed well before the MAX variant involved in a recent Boeing safety crisis.

2024-12-29 18:41

2024-12-29

18:41

moneycontrol.com

https://www.moneycontrol.com/news/world/is-there-no-chance-of-survival-devastated-families-of-south-korea-s-plane-crash-victims-12899722.html

'Is there no chance of survival?': Devastated families of South Korea's plane crash victims

A 15-year-old Boeing 737-800 passenger plane, returning from Bangkok, suffered a catastrophic landing incident when its landing gear reportedly failed to deploy. (Image: X).Related stories.

“Is there absolutely no chance of survival?” The heartbreaking question echoed through a conference room at Muan International Airport as families of passengers on the unfortunate Jeju Air Boeing 737-800 clung to dwindling hope. The aircraft, carrying 181 people, crashed early Sunday morning, with over 176, out of 181 people onboard, feared dead. Two crew members were pulled from the wreckage during an ongoing rescue operation, officials confirmed. As families gathered at the airport, the sound of sobbing filled the air. About four hours after the crash, former Muan Fire Department Chief Lee Jeong-Hyeon addressed the distraught families. “It is presumed that most of the 181 people on board the plane have died,” he said, according to a local outlet. The room was filled with over 100 family members, all consumed by cries of anguish, with some collapsing under the weight of the tragedy. When devasted family members asked if there was “no chance” of survival, the chief could only lower his head and respond, “It's unfortunate, but that's what we're seeing.” One woman, awaiting news about her daughter, fell into her lap as hope dissipated. A man vented his frustration, repeatedly asking, “How could I…?” Others were left speechless, murmuring about their last conversations with loved ones: “Oh my, you called yesterday…” and “You were so excited to go out and play…” A 33-year-old woman tearfully recounted, “My sister was on that plane. She had always suffered, but now that her circumstances had improved, she went to have fun,” she told a local news outlet. Families, already devastated, demanded access to the crash site to confirm the fates of their loved ones. However, authorities denied these requests, citing safety concerns. Acting President and Deputy Prime Minister Choi Sang-mok visited the airport to offer condolences and address the families' demands for real-time updates. “Please think of our families first,” they pleaded, to which Choi said, “I understand.” A 15-year-old Boeing 737-800 passenger plane, returning from Bangkok, suffered a catastrophic landing incident when its landing gear reportedly failed to deploy. The aircraft lost control upon touchdown, skidding off the runway before crashing into a concrete fence and erupting into flames. Footage of the accident reveals the plane attempting to land with its landing gear still retracted, however, investigators believe that a bird strike may have contributed to the incident, as some witnesses reported seeing the plane collide with birds, The Korea Times reported. The force of the collision with the fence triggered a massive explosion, engulfing the aircraft in flames and causing widespread devastation The crash has led to the cancellation of all flights at Muan Airport. Jeju Air has apologized and pledged full cooperation with investigations. India on Sunday said it was "deeply saddened" over the plane crash in Muan city, South Korea. “Deeply saddened to learn of the tragic plane crash at Muan airport today. We extend our heartfelt condolences to bereaved family members. The Indian Embassy stands in solidarity with the people & government of RoK in this difficult hour,” said Amit Kumar, India's ambassador to Seoul in a post on X.

2024-12-29 18:24

2024-12-29

18:24

moneycontrol.com

https://www.moneycontrol.com/technology/google-pixel-9-pro-review-utterly-shutterly-ai-lecious-article-12899691.html

Google Pixel 9 Pro review: Utterly, Shutterly, AI-lecious

Google Pixel 9 Pro.Related stories.

If Google’s Pixel lineup were a band, the camera would have been its lead singer — a showstopper with hits that consistently topped the charts. But with the Pixel 9 Pro, it’s like Google realized that the whole band should be in harmony and not just be a one-man show. Pixel phones have dominated the smartphone photography game,  refining the art of computational photography. The Pixel 9 Pro, however, isn’t just about the camera. It’s evolved into an all-rounder, blending AI, software prowess, and reliability. Yes, the cameras are still the star, producing excellent shots in daylight and low light alike. But this time, Google’s also playing backup with an improved display, compact form factor, smarter AI features. Wondering what the Pixel 9 Pro has to offer? Read on: Google Pixel 9 Pro review: Design and display The Pixel 9 series design has seen a bit of a makeover. The camera island at the back looks much different — and better — than the Pixel 8 series. The Pixel 9 Pro got a sleek, shiny metal frame that feels super sturdy and premium. It does give off the iPhone vibe but nothing wrong there as it is easy to use. The back and front are covered in Gorilla Glass Victus 2, so it can take a beating or two. What works in its favour is that it’s not too heavy, weighing just under 200 grams. So it feels comfortable in your hand. We are used to big phones that the relatively compact form factor of the Pixel 9 Pro comes as a breath of fresh air. It’s also only 8.5mm thick, so it’s sleek and stylish without being too bulky. And guess what? It’s IP68 rated, so it can handle dust and water to a certain extent. Now, I know some people might be worried about the Pixel 9 Pro being smaller than the Pixel 9 Pro XL. But trust me, it’s still big enough to be a good everyday phone. You can easily use it with one hand, and it’s got all the features you need. Plus, the minimalist design is actually pretty cool once you get used to it. This year, Google has upgraded to an ultrasonic fingerprint scanner, providing quick and reliable unlocking. It’s one of the better fingerprint scanners out there. The Pixel 9 Pro has a vibrant display that shows colours clearly and accurately. It’s a tiny bit bigger than the Pixel 8, with a 6.3-inch screen instead of 6.2 inches. The bezels around the screen are really thin, so it feels like you’re holding a phone with almost no bezels at all. The colors are so vibrant that you’ll love watching HDR movies. It’s also super bright, even in the sun. The Pixel 9 Pro is small and light, making it perfect for people who love watching movies and TV shows. The screen is super sharp, with 495 PPI, and it streams movies and TV shows really well. You can watch Full-HD content on Netflix and other streaming services. Google Pixel 9 Pro review: Performance The Pixel 9 Pro is the purest Android phone out there in terms of user interface. It’s got Android 14 — though you can upgrade to Android 15 —  and Google’s Gemini AI suite, which is a big deal (more on that later). The Pixel’s software is super smooth and clean, with no junk bloat — something which is a big deal for someone like me. The Pixel 9 Pro is a compact phone that’s perfect for typing emails on the go. The haptic motor gives you satisfying feedback, making typing a breeze. And the audio is top-notch - the speaker is loud and clear, filling a mid-sized room with sound. It’s a great choice for watching movies and listening to music. Connectivity is another strong point. The Pixel 9 Pro maintains network stability in challenging areas like basements, where other phones struggle. Call quality is reliable, and the device handles 5G networks seamlessly as well. The Pixel 9 Pro isn’t a super-fast phone — compared to its competition but is nothing to scoff at either. It’s powered by the Google Tensor G4, which does a great job of handling everyday tasks like browsing, multitasking, and using Google’s AI-powered apps. It’s not a gaming phone though as the Tensor G4 still needs a bit sprucing up before you can play heavy-duty games on it. That said, the Tensor G4 handles light photo edits and AI features without any problems. And it keeps the phone cool even when you’re using it hard, thanks to some smart thermal optimisation. While it isn’t the most powerful device in its segment, the Pixel 9 Pro shines in software, usability, and reliability. The battery performance is quite good and matches other flagships out there. On medium to heavy usage, you can easily get a day's battery life on the Pixel 9 Pro. Google Pixel 9 Pro review: AI features 2024 has been the year for AI in smartphones, and Google is making sure it stays ahead of the game with the Pixel 9 series. These phones are loaded with cool AI features that are fun and somewhat useful. Gemini Assistant At the heart of Google’s AI ecosystem is the Gemini assistant, a next-generation AI powered by multimodal models. Unlike traditional virtual assistants, Gemini allows users to interact not only through voice or text but also via images. This opens up new possibilities, such as asking questions about a picture you just snapped or receiving contextual suggestions for tasks. Gemini also integrates seamlessly across Google apps, making it a central hub for communication and productivity. Add Me The Pixel 9 series has a new camera feature called Add Me that’s quite smart. It uses AI to make sure you’re always in group photos. It takes a bunch of pictures and puts you in the right one, without messing up the rest of the picture. Pixel Studio A standout addition is Pixel Studio, a new app that brings generative AI to the fingertips of users. It is a divisive feature but you can have a a lot of fun with it. Powered by Tensor G4 and Google’s Imagen 3 text-to-image diffusion model, Pixel Studio lets users create  artwork or modify photos using simple text prompts. AI-Enhanced Apps for everyday use Google is also extending AI capabilities to its suite of utility apps. The redesigned Weather app now uses AI to provide hyper-localized forecasts and suggestions based on user activity. Keep Notes integrates Gemini to help organize and summarise notes with ease. Pixel Screenshots gets smarter, allowing users to categorize and search screenshots with AI-powered tags, making retrieval a breeze. With the Pixel 9 series, Google has taken the first step to showcase how AI can go beyond being a buzzword to deliver creative features that enhance the smartphone experience. Google Pixel 9 Pro review: Camera Before we get into the camera details, let’s keep with the AI theme. Google has added the Super Res Zoom feature, which is now capable of delivering high-quality zoom up to 20x. The feature leverages AI to maintain sharpness, detail, and color accuracy even at extreme magnifications. Whether you’re capturing distant landscapes or close-up details, it works quite nicely. The Pixel 9 has the same camera setup as its bigger brother, the Pixel 9 Pro XL. There’s a50-megapixel primary camera, a 48-megapixel ultra-wide and 48-megapixel telephoto camera. At the from you get an impressive 42-megapixel selfie camera. Daytime shots are super clear with vibrant colours and lots of details. It can handle tricky lighting too, making sure everything is well-exposed. Skin tones look natural in portraits, and the blur effects are smooth and realistic. The telephoto lens is great too, even in tough conditions. It takes clear and detailed 5x zoom shots. The ultra-wide camera is equally capable, delivering high-quality shots with good detail and color accuracy during testing. For macro enthusiasts, the ultrawide lens doubles as a macro shooter, though competitors like Samsung have set a slightly higher standard in this area. When stacked against Samsung and iPhone models, Pixel cameras continue to hold their own. Low-light photography is another area where the Pixel 9 does a fine job. Shots taken in dim conditions retain impressive detail, minimal noise, and accurate colors. The automatic night mode is a dependable tool for hassle-free low-light shots, though manual adjustments allow for even better results. While low-light portraits are good, there’s still room for refinement in this area. The upgraded selfie camera is a highlight, delivering excellent results across varying lighting conditions. Skin tones are captured naturally, making it a significant improvement over previous iterations. On the video front, the Pixel 9 shows marked improvement compared to the Pixel 8 Pro. While video quality has come a long way, it still falls short of the benchmark set by the iPhone, particularly for videography enthusiasts. The Pixel 9’s camera system offers a well-rounded experience, excelling in most scenarios and reinforcing Google’s reputation for photographic excellence. Is it the best camera out there? I won’t call it that as the iPhone 16 Pro Max and the Samsung Galaxy S24 Ultra do manage to do some things better than the Pixel 9 Pro. Google Pixel 9 Pro review: Verdict The Pixel 9 Pro’s compact design, bright display, and seamless Android experience prove it’s a worthy everyday companion. While it’s not the most powerful performer in its price range, the Pixel 9 Pro’s focus on usability, creativity, and practicality strikes a chord. It’s no longer just about the cameras. Having said that the Pixel 9 Pro is an expensive phone. Priced at Rs 1,09,900, it is cheaper than the iPhone 16 Pro but still an expensive proposition. If you are in the market for a premium phone which isn’t an iPhone or an S-series Samsung phone, the Google Pixel 9 Pro is a solid alternative to go for.

2024-12-29 18:03

2024-12-29

18:03

moneycontrol.com

https://www.moneycontrol.com/news/world/azerbaijan-s-president-says-plane-that-crashed-was-shot-at-from-russia-12899696.html

'Moscow put forward theories ...': Azerbaijan's president says plane that crashed was shot at from Russia

The Embraer EMBR3.SA passenger jet had flown from Azerbaijan's capital Baku to Grozny, in Russia's southern Chechnya region, before veering off hundreds of miles across the Caspian Sea..Related stories.

Azerbaijani President Ilham Aliyev said on Sunday that the passenger plane that crashed in Kazakhstan killing 38 people had been damaged due to shooting from the ground in Russia, Azerbaijan state television reported, as reported by news agency Reuters. Aliyev said he regretted that "some circles" in Russia had tried to hush up the truth about the crash of the Azerbaijan Airlines planes by sowing false narratives about the causes of the crash. Aliyev said Baku regretted that Moscow "put forward theories" that "clearly showed the Russian side wanted to cover" up the issue. "Admitting guilt, apologising in a timely manner to Azerbaijan, which is considered a friendly country, and informing the public about this –- all these were measures and steps that should have been taken." "The facts are that the Azerbaijani civilian plane was damaged from the outside over Russian territory, near the city of Grozny, and almost lost control. We also know that electronic warfare systems put our plane out of control," Aliyev told state media. "At the same time, as a result of fire from the ground, the tail of the plane was also severely damaged." Aliyev spoke to AZTV a day after he had a phone call with Russian President Vladimir Putin, who apologized for the incident without specifically saying that Russia had been at fault. “Part of the fuselage didn’t burn, thanks to which today we can say openly that the plane was shot by Russia,” Aliyev said. “We aren’t saying that it was done intentionally, but it was done.” "Of course, our plane was hit by accident. Of course, there can be no talk of a deliberate act of terror here," Aliyev said. "Therefore, admitting the guilt, apologizing in a timely manner to Azerbaijan, which is considered a friendly country, and informing the public about this – all these were measures and steps that should have been taken," he said. On Saturday, Russia's President Vladimir Putin apologised to Aliyev for what the Kremlin called a "tragic incident" over Russia in which the Azerbaijan Airlines plane crashed after Russian air defences were fired against Ukrainian drones. With Agency Inputs

2024-12-29 18:01

2024-12-29

18:01

moneycontrol.com

https://www.moneycontrol.com/news/india/country-s-liquor-cos-may-approach-fssai-for-separate-standard-for-indian-single-malt-whisky-12899668.html

Country's liquor cos may approach FSSAI for separate standard for Indian single malt whisky

Country's liquor cos may approach FSSAI for separate standard for Indian single malt whisky.Related stories.

Homegrown Indian liquor makers are mulling approaching food & beverages regulator FSSAI for a separate standard for the Indian single malt whisky that is rapidly scaling with the ongoing trend of premiumisation and has won several prestigious international awards. This will help maintain the sanctity and reputation of Indian single malt whisky — now exported to 60 countries — and Indian producers are discussing the move, according to Confederation of Indian Alcoholic Beverage Companies (CIABC), the industry body of domestic AlcoBev manufacturers. The Indian distillers are also taking steps to get a geographical indication tag for their single malt whisky that will enhance the brand's credibility and standards. While the sale of Indian single malt whisky rising in high double digits in the country — the world's largest whisky market — the industry is also facing a challenge to keep a check on the emergence of smaller single malt whisky brands. According to CIABC Director General Anant S Iyer, the definition of FSSAI is that it should be malt-based, but it does not define single malt. Single malt whisky means that it should come from single distillery and not multiple ones. Those not following proper standards should be restrained from claiming themselves as Indian single malt whisky, Iyer said. "We believe that FSSAI should amend its regulations to include a separate standard applicable to Indian single malt whisky. This way, producers who are not following the required standards can be restrained from calling it Indian single malt whisky. It will also help maintain the sanctity and reputation of Indian single malt whisky," Iyer told PTI. In recent years, Indian single malt brands, including Amrut, Paul John, Radico Khaitan's Rampur, Indri from Picadilly Industries, Gianchand from Dewansons, Crazy Cock from South Seas Distilleries, and Doaab (Globus), have broke into the segment which was shadowed by the imported Scotch whisky. In 2023, Indian single malts accounted for nearly 53 per cent of total sales, scoring over the global brands such as Glenlivet, Macallan, Lagavulin, Glenfiddich, and Talisker in the 'desi' market, where the ASP (average selling price) is going up. CIABC has expressed concerns over misrepresentation of the Indian single malt category by some manufacturers, calling their produce as "single malt" despite it being sourced from different distilleries. CIABC says it undermines efforts of Indian producers who have worked hard over the years in creating a niche for Indian single malt whiskies globally. "Now a host of other Indian domestic players are setting up and maturing Indian malt spirit, using malted Indian Barley in Oak Barrels, which are mainly imported. They are in the process of launching their own Indian single malt whisky brands in the immediate to near future," said Iyer. Indian whiskies are finding their play in the huge whisky category worldwide dominated by scotch, American, Irish, Japanese, and Canadian whiskies, he added. Earlier this year, the Food Safety and Standards Authority of India (FSSAI) issued its definition of single-malt and single-grain whisky, which came into effect on March 1. According to Iyer, the definition of FSSAI is that it should be malt-based, but they do not define single malt. Ensuring registration of Indian single malt whisky as a geographical indication product "will go a long way in enhancing the credibility and ensuring the following of the minimum standards required to produce Indian single malt whisky", he added. The segment is witnessing around 30 per cent volume growth, though the base is small at 1.5 lakh cases. It is expected to grow further as Indians gravitate towards higher-end spirits, especially single malts. Moreover, the growth of single malt whisky is also supported by the Indian tropical weather with hot summers and monsoons, along with mild to cold winters. "A 3-year-old Indian single malt whisky would be close to in terms of profile to a 10-year-old scotch single malt, given the maturation of malt spirits in our tropical weather with hot summers/monsoons and mild to cold winters. Likewise, a one-year-plus Indian malt spirit is akin to a 3-year old scotch malt spirit," he said. The story of Indian single malt whisky started in 2003 with Amrut and after the pandemic, several companies joined it, when the global supply chain was disrupted, affecting scotch whisky shipments. Indian whisky brands have since grabbed the opportunity and made strong inroads into the market.

2024-12-29 17:05

2024-12-29

17:05

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/chartist-talks-sudeep-shah-of-sbi-securities-explains-why-he-advises-buying-these-3-stocks-for-2025-but-bearish-on-fmcg-index-12899679.html

Chartist Talks: Sudeep Shah of SBI Securities explains why he advises buying these 3 stocks for 2025, but bearish on FMCG index

Sudeep Shah is the Head of Technical and Derivative Research at SBI Securities.Related stories.

Sudeep Shah of SBI Securities recommends buying Laurus Labs for 2025. "Laurus Bas has strongly outperformed the frontline indices for the last couple of weeks. Also, it is currently, trading above its short and long-term moving averages, he said in an interview to Moneycontrol. Further, he is bullish on Ipca Laboratories, and Triveni Engineering for 2025. "Ipca Laboratories has formed a strong base near 20-week EMA level and thereafter witnessed a resume its northward journey. The weekly RSI is in a super bullish zone, while Triveni Engineering has given a stage-2 cup pattern breakout on a weekly scale. As the stock is trading near all-time high, all the moving averages and momentum-based indicators are suggesting strong bullish momentum in the stock, said the Head of Technical and Derivative Research at SBI Securities. However, he is bearish on the Nifty FMCG index. Q: Are you super bullish on Greaves Cotton? Yes, the stock has given a stage-2 cup breakout on a weekly scale. This breakout is confirmed by above 50-week average volume. In addition, it has formed a sizeable bullish candle on breakout week, which adds strength to the breakout. As the stock is trading at all-time high, all the moving averages and momentum-based indicators are suggesting strong bullish momentum in the stock. The daily and weekly RSI (Relative Strength Index) is in a super bullish zone as per RSI range shift rules. Hence, we are bullish on Greaves Cotton. What are your top 2 bets for 2025? Ipca Laboratories On a weekly scale, the stock has marked a high of Rs 1,708, and thereafter, it has witnessed throwback for 9 weeks. Interestingly, during the period of throwback, the volume activity was mostly below average, which indicates routine decline after a sharp upside rally. The throwback was halted near the 20-week EMA (Exponential Moving Average) level. The stock has formed a strong base near 20-week EMA level and thereafter witnessed a resume its northward journey. The weekly RSI is in a super bullish zone. Hence, we feel it is likely to test the level of Rs 1,800, followed by Rs 1,950 in the medium-term. Triveni Engineering and Industries The stock has given a stage-2 cup pattern breakout on a weekly scale. This breakout is confirmed by above 50-week average volume. As the stock is trading near all-time high, all the moving averages and momentum-based indicators are suggesting strong bullish momentum in the stock. As per the measure rule of cup pattern, the upside target is placed at Rs 650 level in the medium-term. What is the possibility of Nifty moving back towards November low, though the volumes remain low? In the December series, Nifty futures experienced a pullback rally during the first half of the month, reaching a high of 24,930. However, the index subsequently resumed its downward trajectory, marking the third consecutive series of negative returns. Following a sharp 4.77% decline in the previous week, this week (ended December 27) was relatively subdued, with the index trading within a narrow range. Notably, Nifty formed Doji candlestick patterns on all four trading sessions, reflecting indecisiveness among market participants. The index moved within a range of just 291 points, the narrowest since June 18, 2024. Currently, Nifty is trading below its 20, 50, and 100-day EMAs, all of which are trending downward. Over the past four sessions, the index has hovered near its 200-day EMA (23694). Meanwhile, the daily RSI remains in bearish territory, positioned below its signal line. Talking about crucial levels, the zone of 23,550-23,500 will act as immediate support for the index. Any sustainable move below the level of 23,500 will lead to a sharp correction upto the level of 23,200, followed by 22,900 in the short term. On the upside, the zone of 23,950-24,000 will act as a crucial hurdle for the index. Any sustainable move above the level of 24,000 will lead to a sharp pullback rally upto the level of 24,300, where 50 and 100-day EMA is placed. Do you see the January series going to be a strong month for the market? No, currently, the chart structure is indicating sideways to bearish momentum for the next couple of weeks. Tracking seasonality, over the past 17 years, the January month has often exhibited a negative trend for Nifty. On 11 occasions, the index has concluded on a negative note with an average loss of 4.79%, while on 6 occasions, it has ended on a positive note with an average gain of 5.67%. The average return for Nifty in the January series has been -1.10%. Over the past 17 years, January has consistently shown an average volatility of 9 percent for the Nifty index. Is it the time to buyEscorts Kubota? No, currently, the stock is trading below its short and long-term moving averages. These averages are in falling mode. Further, the daily RSI is in the super bearish zone as per RSI range shift rules. Hence, we recommend to avoid Escorts for now. Do you advise buyingLaurus Labsfor 2025? Yes, since the last week of March 2023, the stock is marking the sequence of higher tops and higher bottoms on a weekly scale. The stock has strongly outperformed the frontline indices for the last couple of weeks. Also, currently, trading above its short and long-term moving averages. These averages are in rising trajectory, and they are in the desired sequence, which suggest trend is strong. Hence, we recommend buying Laurus Labs for 2025. Has the FMCG index bottomed out? Will it be a star performer in 2025? No, we do not expect Nifty FMCG to be a star performer in 2025. The index is currently trading below its short and long-term moving averages, reflecting overall bearish momentum. Indicators and oscillators further confirm this weakness. However, on the daily chart, the index is forming an Adam and Adam Double Bottom pattern. A sustainable move above 58800 could lead to a neckline breakout, potentially triggering a short-term pullback. Conversely, a slip below 55,400 may resume the downtrend. While a short-term bounce is possible, sustained outperformance in 2025 appears unlikely at this stage.

2024-12-29 17:04

2024-12-29

17:04

moneycontrol.com

https://www.moneycontrol.com/news/world/jeju-air-plane-crash-worst-airline-disaster-on-south-korean-soil-12899689.html

Jeju Air plane crash worst airline disaster on South Korean soil

Rescue workers take part in a salvage operation at the site where an aircraft crashed after it went off the runway at Muan International Airport. (Image: Reuters).

At least 174 people were killed in the deadliest airline crash ever in South Korea on Sunday. The airliner belly-landed and veered off the runway, erupting in a fireball as it slammed into a wall at Muan International Airport. Jeju Air flight 7C2216, arriving from the Thai capital Bangkok with 175 passengers and six crew on board, was attempting to land shortly after 9 am. The Boeing 737-800 was seen in local media video skidding down the runway with no visible landing gear before crashing into the wall in an explosion of flames and debris. The two crew members, a man and a woman, were rescued from the tail section of the burning plane, everyone else is presumed dead. The crash of the Jeju Air flight marks the deadliest ever on South Korean soil. It is also the worst involving a South Korean airline since a 1997 Korean Air Lines crash in Guam that killed more than 200, according to a report by Reuters. Also Read:South Korea plane crash: All except two are presumed dead on Jeju Air flight carrying 181 people, say authorities The crash at the Muan International Airport is also the first fatal accident involving the country's biggestbudgetairline, which was founded in 2005. Jeju Air ranks only behind Korean Air Lines and Asiana Airlines in terms of the number of passengers in South Korea. The previous most deadly air accident in South Korea was in 2002, when a Boeing 767-200 operated by Air China crashed into a hill near South Korea's southeastern port city of Busan, killing 129 people and injuring 37, Reuters reported. Here are some of the other major plane crashes in South Korea or involving South Korean airlines: - September 1983: Korea Airlines Flight 007 was shot down by a Soviet jet when it strayed into Soviet airspace over Sakhalin island, killing all 269 people on board. - July 1993: A Boeing 737-500 operated by Asiana Airline landed several kilometres (miles) short of the runway at South Korea's Mokpo airport in poor weather. More than 60 people died. Also Read:Putin apologises to Azerbaijan for Kazakhstan plane disaster, says 'Russian air defence ...' - August 1997: Korean Air flight 801, a Boeing 747-3B5B (747-300) operated by Korean Air, ploughed into a hill near Guam's international airport, killing 228 out of 254 persons on board. - July 2011: An Asiana Boeing 747-400 cargo aircraft crashed in the sea off South Korea's Jeju Island. This was later determined to have been caused by a fire in the cargo hold. Both pilots were killed. - July 2013: Asiana Airlines flight 214 crashed at the San Francisco airport when the Boeing 777 jetliner's tail struck a seawall short of the runway, sending the aircraft into a spin, leading to the deaths of three teenage passengers from China and injuries to more than 180 passengers out of about 300 people on board.

2024-12-29 17:03

2024-12-29

17:03

moneycontrol.com

https://www.moneycontrol.com/news/world/russia-will-abandon-its-unilateral-missile-moratorium-says-lavrov-12899667.html

Russia will abandon its unilateral missile moratorium, says Lavrov

Russia will abandon its unilateral missile moratorium, says Lavrov.Related stories.

Russia will scrap a moratorium on the deployment of intermediate and shorter range nuclear-capable missiles because the United States has deployed such weapons in various regions around the world, Russian Foreign Minister Sergei Lavrov said on Sunday. Russia's move, long signalled, will kill off all that remains from one of the most significant arms control treaties of the Cold War, amid fears that the world's two biggest nuclear powers could be entering a new arms race together with China. Russia and the United States, who both admit their relations are worse than at any time since the depths of the Cold War, have both expressed regret about the disintegration of the tangle of arms control treaties which sought to slow the arms race and reduce the risk of nuclear war. Asked by state news agency RIA if Russia could withdraw from the New START treaty before its expiry in February 2026, Lavrov said that there were currently "no conditions" for a strategic dialogue with Washington. "Today it is clear that, for example, our moratorium on the deployment of short- and intermediate-range missiles is no longer practically viable and will have to be abandoned," Lavrov said. "The U.S. has arrogantly ignored the warnings of Russia and China and in practice has moved on to the deployment of weapons of this class in various regions of the world." The Intermediate-range Nuclear Forces (INF) Treaty, signed by Mikhail Gorbachev and Ronald Reagan in 1987, marked the first time the superpowers had agreed to reduce their nuclear arsenals and eliminated a whole category of nuclear weapons. The United States under former President Donald Trump formally withdrew from the INF Treaty in 2019 after saying that Moscow was violating the accord, an accusation the Kremlin repeatedly denied and dismissed as a pretext. Russia then imposed a moratorium on its own development of missiles previously banned by the INF treaty – ground-based ballistic and cruise missiles with ranges of 500 km to 5,500 km (310 miles to 3,417 miles). Trump in 2018 said he wanted to terminate the INF Treaty because of what he said were years of Russian violations and his concerns about China’s intermediate-range missile arsenal. The United States publicly blamed Russia's development of the 9M729 ground-launched cruise missile, known in NATO as the SSC-8, as the reason for it leaving the INF Treaty. In his moratorium proposal, Putin suggested Russia could agree not to deploy the missiles in its Baltic coast exclave of Kaliningrad. Since leaving the pact, the United States has tested missiles with a similar profile. Russia fired a new intermediate-range hypersonic ballistic missile known as "Oreshnik", or Hazel Tree, at Ukraine on Nov. 21 in what Putin said was a direct response to strikes on Russia by Ukrainian forces with U.S. and British missiles.

2024-12-29 16:59

2024-12-29

16:59

moneycontrol.com

https://www.moneycontrol.com/news/india/first-commercial-landing-at-navi-mumbai-airport-indigo-s-a320-aircraft-gets-water-canon-salute-12899654.html

First commercial landing at Navi Mumbai airport, IndiGo's A320 aircraft gets water cannon salute

Water cannon salute was given to an Indigo Airlines A320 aircraft which landed successfully..Related stories.

The Navi Mumbai International Airport (NMIA) carried out its first commercial flight validation test on Sunday. An IndiGo Airlines A320 aircraft successfully touched down on the runway ahead of its commercial launch in early 2025. The aircraft was welcomed with the traditional water salute by two Crash Fire Tenders (CFT) of NMIA. The touchdown of a commercial aircraft validates and establishes the synchronised functioning of Instrument Approach Procedures at NMIA.The flight test was conducted on the runway 08/26 and was supervised by senior officials from the Directorate General of Civil Aviation (DGCA), Airports Authority of India (AAI), Customs, Immigration, Central Industrial Security Force (CISF), City and Industrial Development Corporation of Maharashtra Limited (CIDCO), India Meteorological Department (IMD), Bureau of Civil Aviation Security (BCAS), as well as Adani Airport Holdings Limited (AAHL) and other key stakeholders. Navi Mumbai International Airport’s first two phases likely to be commissioned by March 2025 With 20 million passengers handling capacity per year. #WATCH| Maharashtra: Navi Mumbai International Airport successfully conducts first flight validation test.Water cannon salute was given to an Indigo Airlines A320 aircraft which landed successfully.pic.twitter.com/zEKbpRdKrTANI (@ANI)December 29, 2024 The touchdown of a commercial aircraft validates and establishes the synchronised functioning of Instrument Approach Procedures at NMIA. The exercise includes technical assessment, landing and take-off maneuvers, paving the way for the DGCA to validate the data collected from the flight and for NMIA to receive the aerodrome license, which is essential to operate the airport. "Our ambition is to do the commercial inauguration of the airport by April 17," Adani Airport Holdings Ltd CEO Arun Bansal told media after the successful trial landing of the first civil passenger aircraft. Bansal said that the domestic operations will start from the second half of May as after the inaugural flight some procedures will have to be followed which will take about four weeks time. And by the end of July, he said, "we expect to start international operations." Navi Mumbai International Airport (NMAI) took a further step toward becoming operational with its first commercial flight validation test, with the successful touchdown at 1.32 pm at runway 26/08, it said. "This is a momentous day for Navi Mumbai International Airport. The successful completion of the validation flight is a major milestone, and we are now one step closer to operationalising the airport, prioritising safety at every step," said Bansal. NMIAL is part of Adani Airports Holdings Limited and is owned by Mumbai International Airport Limited (MIAL) (74 per cent shareholding) and CIDCO (26 per cent shareholding). The CIDCO, a Government of Maharashtra undertaking is also the Concessioning Authority for the project. The exercise includes technical assessment, landing and take-off manoeuvres, paving the way for the DGCA to validate the data collected from the flight and for NMIA to receive the aerodrome license, which is essential to operate the airport. Post the successful landing, NMIA's established flight procedures will be published in the Electronic Aeronautical Information Publication (eAIP) for international promulgation. Prior to the landing of the validation flight, NMIA successfully conducted the flight calibration of the Instrument Landing System (ILS) and Precision Approach Path Indicator (PAPI), subsequently drafting instrument approach procedures to prepare itself for the arrival of the validation flight. *With  Agency Inputs

2024-12-29 16:46

2024-12-29

16:46

moneycontrol.com

https://www.moneycontrol.com/news/india/delhi-election-manish-sisodia-unveils-education-manifesto-for-jangpura-constituency-12899681.html

Delhi election: Manish Sisodia unveils education manifesto for Jangpura constituency

Senior AAP leader Manish Sisodia.Related stories.

Senior AAP leader Manish Sisodia on Sunday announced the education manifesto for the Jangpura constituency ahead of the upcoming Delhi Assembly elections. The manifesto outlines a comprehensive plan to enhance education infrastructure, improve opportunities for the students and involve the parents and educators in shaping the children's future, said a statement. Speaking on the importance of quality education, Sisodia said, "Quality education for children is the key to the progress of any family. We all aspire our children to grow up to be successful and respected individuals. To achieve this, access to quality education is crucial." The manifesto focuses on building two fully equipped new schools in Sarai Kale Khan and Hazrat Nizamuddin along with modernising facilities in the existing schools in Feroz Shah Kotla and Hari Nagar Ashram, it stated. Adequate teaching staff, security measures and cleanliness will be ensured across all schools along with traffic coordination to facilitate smooth commutes, it read. "The plan includes linking Delhi government schools with local municipal schools and Anganwadis, ensuring education opportunities for children aged 3 to 18," it mentioned.The teachers and principals will be provided with modern training opportunities, both in India and abroad, and the DIET Daryaganj will be transformed into a state-of-the-art training center, it said. Post-school activities, including arts, sports and self-defense training for girls, aim to promote holistic development. The ITI Hazrat Nizamuddin will offer advanced courses with cutting-edge technology to create more job opportunities, it added.

2024-12-29 16:35

2024-12-29

16:35

moneycontrol.com

https://www.moneycontrol.com/news/india/year-of-political-setbacks-and-comebacks-in-rajasthan-kota-story-remains-grim-12899652.html

Year of political setbacks and comebacks in Rajasthan; Kota story remains grim

Rajasthan Chief Minister Bhajanlal Sharma.Related stories.

First came the setback and then the comeback. That in a nutshell was the BJP story in Rajasthan in 2024. The Congress story could also be told in two halves — triumphs and then tribulations. Another story that dominated the news cycle in 2024 was students’ suicide in Kota. And sadly there was no back-to-life narrative to add in that. The recurring incidents of suicide dealt a body blow to the country’s ”coaching hub”, bringing its economy down from a whopping revenue of Rs 6,500-7000 crore annually to Rs 3,000-3,500 crore. The year began on an uncertain note for Rajasthan — apprehensions about a first-time MLA-chief minister in Bhajan Lal Sharma; about a fluid political landscape after assembly polls gearing up to face Lok Sabha polls; about the students’ suicide at Kota; and about Model Code of Conduct for LS polls halting development work.Many questioned if the BJP relying on far-less experienced Sharma and moving on from veteran Vasundhara Raje would cost the party, and also the state.There were questions about the Congress too, with murmurs that infighting within the party led to its defeat in the assembly polls and could harm it in the Lok Sabha elections too.But by the time year ended, most of these questions were answered. Chief Minister Sharma took one decision after the other with conviction and backing of the party high command.Under his leadership, the party won five of the seven seats that voted in bypolls. His government took tough action in paper leak case. In the year’s last Cabinet meeting held on December 28, the Sharma government decided to dissolve nine districts formed by the previous Congress dispensation, saying they were neither ”practical” nor in ”public interest”. Three new divisions were also dissolved. The state will now only have seven divisions and 41 districts.Sharma consolidated his position with the organisation of the Rising Rajasthan Summit in December, where an investment of Rs 35 lakh-crore was pledged to the state. The Congress, defeated in the assembly polls in November 2023, made a comeback in the Lok Sabha polls, winning eight of the 25 seats, and putting a halt on talks of infighting. This was first instance of the Congress winning a Lok Sabah seat in the state since 2014.The BJP went into the elections with confidence but it was restricted to just 14 seats. Its 2019 LS poll ally RLP went with the Congress under the INDIA bloc.The state also copped some fatal accidents and tragedies in 2024, the deadliest coming the last month.An LPG tanker collided with a truck in the chilling morning of December 20 on the Jaipur-Ajmer highway, sparking a massive fireball that killed 17 people died and destroyed 39 vehicles. The nation was in mourning.People in nearly 20 villages of the Lake city Udaipur remained terrified due to unabated leopard attacks in October. Ten people were killed in leopard attacks in Gogunda and nearby areas. The forest department had to carry out an intense search operation and also take the help of a private shooter to eliminate the leopard.One leopard was shot dead and one was beaten to death by villagers.Other significant incidents included the death of a five-year-old boy after falling into a borewell in Dausa, a collision between a security vehicle of the CM’s cavalcade and a taxi car, leaving its driver and an Assistant Sub-Inspector (ASI) dead. On the legislative front, the Bhajanlal government approved the ”Rajasthan Prohibition of Unlawful Conversion of Religion Bill 2024”.The world famous Sufi saint Moinuddin Chisti dargah was in the news in November when a court in Ajmer admitted a petition claiming it was built over a Shiva temple, and issued notices to the Ajmer dargah committee, the Ministry of Minority Affairs and the Archaeology Survey of India. The Lok Sabha polls setback in May-June triggered a mini rebellion in the BJP, with cabinet Minister Kirodi Lal Meena embarrassing the party and the government. He submitted his resignation, but chief minister did not accept the resignation.The party, meanwhile, replaced state president and Lok Sabha MP CP Joshi with Rajya Sabha MP Madan Rathore, for whom the November assembly bypolls were going to be a litmus test.Meena continues to raise the demand to cancel the 2021 sub-inspector recruitment exam over alleged paper leak. The party tried to placate him by fielding his brother Jagmohan Meena from the Dausa seat in November assembly bypoll, but he lost. Meena blamed some party leaders for the defeat. During the bypoll to the Tonk-Uniara assembly seat, independent candidate Naresh Meena slapped an SDM for allegedly influencing voters. This was followed by violence and arson in Samravta village. Meena was later arrested.Among other notable political developments, Jat leader Hanuman Beniwal’s Rashtriya Loktantrik Party suffered a significant blow in the assembly bypolls and the Bharat Adivasi Party (BAP) emerged as a powerful regional force in the tribal region.Beniwal was the only RLP MLA in the assembly and when he was elected as Nagaur MP as INDIA bloc, he fielded his wife Kanika Beniwal in the bypolls from Khinwsar seat. But she lost the election to BJP.His party now has no MLA in the house of 200. The Congress did not go for alliance with his party in the bypolls.At the same time, tribal-dominated Vagad region saw the emergence of Bharat Adivasi Party which has four MLAs and one MP — Rajkumar Roat from the Banswara-Dungarpur seat. In the assembly bypolls, the party retained Chorasi assembly seat which had fallen vacant after the election of Rajkumar Roat to Lok Sabha.As the people of Rajasthan dealt with mundane ups and downs of life, there was one sobering sub-text that remained constant in 2024: students’ suicide in Kota. Seventeen students who were preparing for medical and engineering exams in the city committed suicide in the year, according to reports.Kota collector Ravindera Goswami told PTI the administration has taken several steps to deal with the situation, and the number of suicides reduced by 50 per cent from 2023. The news about suicides dented Kota’s image as a coaching city and harmed its economy, which is heavily depended on the industry. The impact is reflected in the numbers.According to those in the industry, the city used to witness about 2 lakh students per year earlier, but it is down to 85,000 to 1 lakh now; and the economy has almost halved from an annual revenue of Rs 6,500-7,000 crore.Experts have cited other reasons as well for the decreasing number of students such as the Centre’s new guidelines on registration, and reputed coaching institutes opening their branches in other major cities. Goswami said the administration has taken several steps to engage students under distress and hopefully there would be no such cases.

2024-12-29 16:29

2024-12-29

16:29

moneycontrol.com

https://www.moneycontrol.com/news/world/north-korea-s-kim-vows-toughest-anti-us-policy-before-trump-takes-office-12899677.html

North Korea's Kim vows toughest anti-US policy before Trump takes office

North Korean leader Kim Jong Un.Related stories.

North Korean leader Kim Jong Un said he will implement the “toughest” anti-US policy, less than a month before Donald Trump takes office as US president, the country's state media reported Sunday. Trump's return to the White House raises prospects for high-profile diplomacy with North Korea. During his first term, Trump met Kim three times for talks on the North's nuclear programme. Many experts however say a quick resumption of Kim-Trump summitry is unlikely as Trump would first focus on conflicts in Ukraine and the Middle East. North Korea's support for Russia's war against Ukraine also poses a challenge to efforts to revive diplomacy, experts say. During a five-day plenary meeting of the ruling Workers' Party that ended Friday, Kim called the US “the most reactionary state that regards anti-communism as its invariable state policy.” Kim said that the US-South Korea-Japan security partnership is expanding into “a nuclear military bloc for aggression." “This reality clearly shows to which direction we should advance and what we should do and how,” Kim said, according to the official Korean Central News Agency. It said Kim's speech “clarified the strategy for the toughest anti-US counteraction to be launched aggressively” by North Korea for its long-term national interests and security. KCNA didn't elaborate on the anti-US strategy. But it said Kim set forth tasks to bolster military capability through defence technology advancements and stressed the need to improve the mental toughness of North Korean soldiers. The previous meetings between Trump and Kim had not only put an end to their exchanges of fiery rhetoric and threats of destruction, but they developed personal connections. Trump once famously said he and Kim “fell in love.” But their talks eventually collapsed in 2019, as they wrangled over US-led sanctions on the North. North Korea has since sharply increased the pace of its weapons testing activities to build more reliable nuclear missiles targeting the US and its allies. The US and South Korea have responded by expanding their military bilateral drills and also trilateral ones involving Japan, drawing strong rebukes from the North, which views such US-led exercises as invasion rehearsals. Further complicating efforts to get North Korea to rid itself of nuclear weapons is its deepening military cooperation with Russia. According to US, Ukrainian and South Korean assessments, North Korea has sent more than 10,000 troops and conventional weapons systems to support Moscow's war against Ukraine. There are concerns that Russia could give North Korea advanced weapons technology in return, including help to build more powerful nuclear missiles. Russia and China, locked in separate disputes with the US, have repeatedly blocked US-led pushes to levy more UN sanctions on North Korea despite its repeated missile tests in defiance of UN Security Council resolutions. Last month, Kim said that his past negotiations with the United States only confirmed Washington's “unchangeable” hostility toward his country and described his nuclear buildup as the only way to counter external threats.

2024-12-29 16:19

2024-12-29

16:19

moneycontrol.com

https://www.moneycontrol.com/technology/garena-free-fire-max-redeem-codes-for-december-29-2024-win-free-gifts-rewards-and-know-how-to-redeem-codes-article-12899674.html

Garena Free Fire MAX redeem codes for December 29, 2024: Win free gifts, rewards, and know how to redeem codes

Garena Free Fire Max.Related stories.

Following the ban of its previous version in India, Garena Free Fire MAX has emerged as a popular gaming choice, attracting players across the nation. Each day, gamers can unlock unique codes for exclusive rewards, adding an exciting element to their gameplay. Today's redemption codes offer rewards like skins, weapons, diamonds, and other items. Free Fire MAX, an upgraded version of the popular battle royale game, has captivated players with its impressive visuals and thrilling gameplay. It's important to note that these redemption codes have a limited time frame, usually 12 to 18 hours, which keeps players eagerly waiting for their chance to claim valuable loot. To ensure fairness, code redemption is restricted to 500 players per day, in accordance with developer guidelines for equal opportunities. With its time-sensitive rewards and engaging universe, Garena Free Fire MAX remains highly favoured among gamers, delivering an unparalleled adventure. Whether seasoned veterans or newcomers, these redemption codes enhance the gaming experience by granting access to exclusive items and advantages, providing a competitive edge in the virtual battleground. Garena Free Fire MAX Redeem Codes for today, December 29 FFPRDYPFC9XAXF4SWKCH6KY4BLFY7MSTFXV2FFWSY3NQFV7MFC4XSKWQFX9YFXK2NDY5QSMXNPTFYW7QPXN2FFAGTXV5FRKHAYNFFQPXTW9KRLXFHW8BTAPEFFW2Y7NQFV9SFV4SF2CQFY9MPSFFTXV5FRDKFFFFTXV5FRDKFFXMTK9QFFX9RDNAFV2KX2CQ Garena Free Fire Max December 29: How to redeem codes Step 1: Go to the redemption website by clicking on this link: https://reward.ff.garena.com/ Step 2: Sign in using your credentials from one of the supported platforms such as Google, Facebook, Huawei ID, X, Apple ID, or VK. Step 3: After logging in, you will be taken to a page where you can enter the 12-digit redemption codes. Step 4: Upon successful redemption of codes, collect your rewards from the in-game mail section.

2024-12-29 16:07

2024-12-29

16:07

moneycontrol.com

https://www.moneycontrol.com/news/world/elon-musk-donald-trump-and-the-h-1b-uproar-how-immigration-divided-the-maga-base-12899598.html

F*** yourself...': It's Musk's Tech Bros vs MAGA as fierce war erupts in Trump camp over immigration

Trump’s H-1B pivot and Elon Musk’s bold defense of immigrant talent have ignited a fierce debate, testing the unity of the MAGA movement..Related stories.

Donald Trump is yet to officially step into the Oval Office, but a full-blown crisis is already brewing within his camp—centered around one of the most contentious issues of his presidency: immigration. The controversy revolves around the H-1B visa program, a crucial route for tech professionals looking to work in the US. The debate began when far-right activist Laura Loomer fiercely criticised Trump’s appointment of Sriram Krishnan, a pro-immigration advocate, as the new senior policy adviser on artificial intelligence. The situation escalated when Trump’s allies, Elon Musk and Vivek Ramaswamy, publicly defended the H-1B visa, telling Loomer and her supporters to "F*** yourself." Trump, who is the face of the "America First" movement, swiftly sided with Musk, calling himself a long-time supporter of immigration. But for many in the MAGA base, his endorsement of skilled immigration felt like a betrayal of the very principles that fueled his rise to the presidency. Here’s a closer look at the row: Sriram Krishnan's appointment angers MAGA base At the eye of the storm is the appointment of Indian-origin Sriram Krishnan. Krishnan, a venture capitalist and AI expert, has been tapped for the role of senior policy adviser on artificial intelligence (AI) in the Trump 2.0 administration. The announcement did not sit well with MAGA loyalists. Krishnan’s pro-immigration stance (he’s advocated for eliminating green card caps and increasing skilled worker visas) made him a curious pick for a former president whose entire brand was built on restricting immigration. Trump didn’t help matters when he toldThe New York Post: “I have many H-1B visas on my properties. I've been a believer in H-1B. I have used it many times. It's a great program.” For a base that rallied around promises to "hire American," these remarks were met with considerable disappointment.MAGA screams 'betrayal!' For Trump’s core supporters, Krishnan’s appointment was the tipping point. Far-right provocateur Laura Loomer expressed her anger on social media. Loomer wasted no time in accusing Trump of betraying his “America First” policy, claiming that the tech executives aligning with him were simply out to line their own pockets. Without mincing her words, she described Indian immigrants "invaders" and called Krishnan’s appointment as "deeply disturbing". She even made highly objectionable and racist remarks against Indians on X. Loomer did not even spare Musk and his "tech bros" gang, saying: "The tech billionaires don't get to just walk inside Mar a Lago and stroke their massive checkbooks and rewrite our immigration policy so they can have unlimited slave laborers from India and China who never assimilated ... I don't care about being called "racist" by people who don't have the best interest of the American worker in mind." Then there was Steve Bannon, Trump’s former chief strategist and self-proclaimed MAGA loyalist. On his “War Room” podcast, Bannon slammed the H-1B program as an "economic and financial scam with a dark underpinning of hatred of American citizens and our beloved Republic.” Later, Loomer's sharp remarks set off a fierce exchange with David Sacks, the venture capitalist and former PayPal executive, whom Trump has appointed as the "White House A.I. & Crypto Czar." Defending Krishnan's appointment, Sacks said the Indian-origin VC was not a "career leftist". "Point of clarification: Sriram didn’t say he wants to remove all caps on green cards. He said he wants to remove *country* caps on green cards. Right now, every country in the world gets allocated the same number of green cards, no matter how many qualified applicants it has. So applicants from India have an 11 year wait whereas applicants from many other countries have no wait at all. Sriram still supports skills-based criteria for receiving a green card, not making the program unlimited. In fact, he wants to make the program entirely merit-based. Supporting a limited number of highly skilled immigrants is still a prevalent view on the right. Sriram is definitely not a “career leftist”! Sacks said. Elon Musk and Vivek Ramaswamy's counter-attack As the MAGA loyalists sharpened their attack, two of Trump’s newfound allies—Elon Musk and Vivek Ramaswamy—decided to double down on their support for skilled immigration. Musk jumped into the fray on X (formerly Twitter), saying: “The number of people who are super talented engineers AND super motivated in the USA is far too low.”Your understanding of the situation is upside-down and backwards.OF COURSE my companies and I would prefer to hire Americans and we DO, as that is MUCH easier than going through the incredibly painful and slow work visa process.HOWEVER, there is a dire shortage of extremely Elon Musk (@elonmusk)December 25, 2024 To Musk, the solution was obvious: bring in the world’s best and brightest, even if it means opening the doors wider for immigrants. Pushing back agains the critics, Musk dismissed them as "contemptible fools". He was responding to a post by Neera Tanden, President Joe Biden’s director of the US Domestic Policy Council. Tanden slammed Trump loyalists and said that a large part of the base of the Republican Party does not see her as an American. Cartoonist Scott Adams said that MAGA Republicans are now "copying the Democrats' playbook on how to lose elections while still feeling good about it." Musk acknowledged this, saying : "And those contemptible fools must be removed from the Republican Party, root and stem. The contemptible fools Im referring to are those in the Republican Party who are hateful, unrepentant racists. They will absolutely be the downfall of the Republican Party if they are not removed.” At one point, he even asked a supporter from the MAGA base to go "F*** yourself". When a user named Steve Mackey used Musk's words to criticise H1-B, the billionaire responsed: "The reason I'm in America along with so many critical people who built SpaceX, Tesla and hundreds of other companies that made America strong is because of H1B. Take a big step back and F**K YOURSELF in the face. I will go to war on this issue the likes of which you cannot possibly comprehend." Ramaswamy chimed in with his own take. He argued that the preference for immigrant talent isn’t about intelligence but about drive. "The reason top tech companies often hire foreign-born & first-generation engineers over 'native' Americans isn't because of an innate American IQ deficit... A key part of it comes down to the c-word: culture.” The reason top tech companies often hire foreign-born & first-generation engineers over native Americans isnt because of an innate American IQ deficit (a lazy & wrong explanation). A key part of it comes down to the c-word: culture. Tough questions demand tough answers & if Vivek Ramaswamy (@VivekGRamaswamy)December 26, 2024 Ramaswamy’s suggestion that American workers lack the hunger and grit of immigrants hit a nerve. MAGA loyalists didn’t just disagree—they felt personally attacked. Ramaswamy also tried walk back some of his earlier comments. He acknowledged that the H-1B system is “badly broken” and in need of reform, but his critiques of American culture continued to draw ire. His remarks painted him as someone more aligned with Silicon Valley than the Rust Belt—a dangerous position for anyone vying for Republican votes.Yup, Ive long said the current H-1B system is badly broken & needs to be gutted. It shouldnt use a lottery, it should be based on pure MERIT. It shouldnt tether workers to just one corporation. Same principles I favor today.https://t.co/tcMSxAaw6WVivek Ramaswamy (@VivekGRamaswamy)December 27, 2024 Trump’s H-1B history: A tale of two stances This isn’t the first time Trump has found himself walking a tightrope on immigration. During his presidency, he signed the 'Buy American and Hire American' executive order, tightening the rules on H-1B visas and emphasizing job opportunities for US citizens. Yet, as a businessman, Trump has relied heavily on immigrant labour, particularly through H-1B visas, at his properties. This duality—slamming the program as a president while benefiting from it as a businessman—has always been a sore spot. His latest comments praising the H-1B program only reignited accusations of hypocrisy, leaving his base feeling betrayed. A broader debate on immigration and culture The H-1B controversy has exposed deep divides within the Republican Party. On one side are traditionalists who see immigration as a zero-sum game, where foreign workers take jobs from Americans. On the other are pragmatists like Musk and Ramaswamy, who argue that skilled immigration is vital for maintaining US competitiveness in a globalized economy. Even Nikki Haley, another Republican presidential hopeful, jumped into the debate, taking a more populist tone. She declared: “There is nothing wrong with American workers or American culture. All you have to do is look at the border and see how many want what we have.” Haley’s comments served as a sharp counterpoint to Ramaswamy’s critique, highlighting the growing fault lines within the party. The path to an H-1B visa The H-1B visa allows highly skilled professionals with a relevant bachelor’s degree or higher to work in the US. Applicants need a job offer from a US employer who pays at least the prevailing wage for their field. Each year, 65,000 new H-1B visas are issued, with an additional 20,000 for those with advanced degrees. The visa is valid for three years, extendable for another three. In 2023, over 309,000 extensions were granted. India dominates, accounting for over 70% of H-1B holders, followed by China at 10%. Other countries like Canada, Korea, and the Philippines also contribute, making the program a global talent magnet.

2024-12-29 15:34

2024-12-29

15:34

moneycontrol.com

https://www.moneycontrol.com/news/business/eepc-india-urges-centre-to-announce-faceless-gst-audit-in-budget-2025-12899653.html

EEPC India urges Centre to announce faceless GST audit in Budget 2025

The Income Tax department has already implemented a faceless audit system..

Engineering Export Promotion Council (EEPC), India proposed to roll out faceless audit assessments under the goods and services tax (GST) regime in a bid to further the government’s vision around ease of doing business. In its recommendation for the upcomingBudgetfor 2025-26, the apex engineering exports promotion body said that steps such as faceless GST assessments will empower micro, small and medium enterprises (MSMEs). The Income Tax department has already implemented a faceless audit system. "The faceless GST audit system, by using technology and ensuring anonymity, will reduce compliance costs. A faceless system will streamline procedures allowing MSMEs to focus on growth and innovation," said Pankaj Chadha, Chairman of EEPC India. EEPC India also recommended making liabilities related to Reverse Charge Mechanism (RCM) eligible for the Amnesty scheme. "Exporters should be granted relief under the amnesty scheme, even if Show Cause Notices (SCNs) are issued under Section 74," Chadha said. Many of the EEPC India members have informed that they have received Show Cause Notices related to RCM and hence there is an urgent need to have an amnesty scheme for such issues, EEPC India added.

2024-12-29 15:29

2024-12-29

15:29

moneycontrol.com

https://www.moneycontrol.com/news/business/ipo/ipo-action-four-public-issues-with-six-listings-lined-up-next-week-12899639.html

IPO Action: Four public issues with six listings lined up next week

IPOs To Watch Next Week.Related stories.

Despite muted equity market conditions, the action in the primary market will be sustained in the coming week, too, starting from December 30. The market participants will see four IPOs opening for public subscription next week, along with six companies scheduled for listing on the bourses. The month as well as the year passing by remained strong for the primary market. A total of 335 companies launched their public issues in the current year including 93 from the mainboard segment, raising nearly Rs 1.72 lakh crore, the highest ever in a year. It was highest for the mainboard as well as SME segments. Experts expect the trend to sustain next year 2025 too, as a lot of companies already received approval from the SEBI to go ahead with their IPO plans and are also seen tapping the primary market for fund raising from sectors like power, technology, manufacturing and services. Indo Farm Equipment IPO The only IPO from the mainboard segment next week will beIndo Farm Equipment, opening on December 31. It plans to raiseRs 260 crorethrough its public issue comprising a fresh issue of Rs 185 crore and an offer-for-sale of around Rs 75 crore worth of shares. The price band for the offer, closing on January 2, has been fixed at Rs 204-215 per share. Click Here To ReadAll IPO News Technichem Organics IPO The other three public issues will be from the SME (small and medium enterprise) segment and Technichem Organics'Rs 25.25-crore IPOwill be the first amongst them, opening on December 31 with a price band of Rs 52-55 per share. Leo Dry Fruits and Spices Trading IPO The dry fruits and spices manufacturer and trader will be launching its maidenpublic issue of Rs 25.1 crore on January 1and closing on January 3. The price band for the book-built issue has been fixed at Rs 51-52 per share. This will kick off the new year 2025. Fabtech Technologies Cleanrooms IPO The initial public offering of the pre-engineered and pre-fabricated modular panels maker will open for bidding on January 3 and close on January 7. The price band for 32.64 lakh shares IPO is yet to be announced. IPOs Closing Next Week Anya Polytech & Fertilizerswill be closing its Rs 45-crore initial share sale on December 30, which so far subscribed 26.22 times, whileCitichem India's Rs 12.6-crore public issue is scheduled to close on December 31, which so far booked 25.89 times. Listings Next Week In total, there will be six companies scheduled for listing next week including three Ventive Hospitality, Senores Pharmaceuticals, and Carraro India from the mainboard on December 30, and Unimech Aerospace and Manufacturing on December 31. In the grey market, Unimech Aerospace IPO shares were available at more than 80 percent premium over the upper price band, and Senores Pharmaceuticals traded at over 60 percent premium, while Ventive Hospitality IPO shares attracted more than 10 percent premium, but Carraro India shares are not getting any premium, the market observers said. Last week, the initial share sale of Unimech Aerospace was subscribed 175.31 times, Senores Pharmaceuticals 93.69 times, Ventive Hospitality 9.82 times, and Carraro India 1.12 times. In the mainboard segment, Anya Polytech & Fertilizers will debut on the NSE Emerge on January 2, and Citichem India on the BSE SME effective January 3.

2024-12-29 15:27

2024-12-29

15:27

moneycontrol.com

https://www.moneycontrol.com/news/india/kejriwal-accuses-bjp-of-manipulating-electoral-roll-operation-lotus-has-begun-in-new-delhi-constituency-12899638.html

Kejriwal accuses BJP of manipulating electoral roll: 'Operation Lotus has begun in New Delhi constituency'

AAP chief Arvind Kejriwal has accused the BJP of manipulation electoral roll. (Image: PTI).

Former Delhi Chief Minister and Aam Aadmi Party (AAP) national convenor Arvind Kejriwal on Sunday tore into the Bharatiya Janata Party (BJP) and accused it of trying to manipulate voter list in the run-up to the Delhi Assembly elections. While addressing a press conference, the AAP chief said, "BJP has already lost the elections. They don't have a chief ministerial face or even proper candidates. They only aim to win through manipulation, but we won't let them succeed." The former CM claimed that the BJP has been tampering with voter lists as part of a covert operation dubbed "Operation Lotus," which he alleged has been orchestrated since December 15. "...In my New Delhi assembly constituency - their (BJP) 'operation Lotus' has been going on since December 15. In these 15 days, they have filed application for the deletion of 5,000 votes and the addition of 7,500 votes... Why there is a need to conduct elections if you are manipulating approximately 12% of total voters in the assembly? A kind of 'game' is being going on in the name of election," Kejriwal alleged, ANI reported. #WATCH| Delhi | AAP national convenor Arvind Kejriwal says, "...In my New Delhi assembly constituency - their (BJP) 'operation Lotus' has been going on since December 15. In these 15 days, they have filed application for the deletion of 5,000 votes and the addition of 7,500pic.twitter.com/3SFHWlDmEwANI (@ANI)December 29, 2024 Also Read:BJP accuses Congress of 'indulging in politics' over Manmohan Singh's funeral He claimed this could alter 12 per cent of the constituency's votes. He also alleged that the BJP had filed 11,000 voter deletion applications in one constituency alone, but the move was halted at Chief Election Commissioner's intervention. "We exposed this, and thankfully, it was stopped." "Operation Lotus has now reached my constituency. They are attempting to manipulate the electoral rolls to change the election outcome. This kind of manipulation undermines democracy. We appeal to the Election Commission to continue its strict monitoring to prevent such malpractice," Kejriwal added. Speaking at the press conference alongside Rajya Sabha MP Raghav Chadha and Delhi Chief Minister Atishi, Kejriwal claimed the BJP was trying to win elections through "unfair means" after failing to present strong candidates or issues. Also Read:From Narendra Modi's triumph to Rahul Gandhi's resurgence: Newsmakers who defined 2024 The total number of voters in the constituency, Kejriwal said, is 106,873, as per the voter list published on October 29 after the summary revision, which was conducted between August 20 and October 20. Arvind Kejriwal is set to contest the 2025 Delhi Assembly elections from the New Delhi Assembly constituency. Kejriwal's latest remarks against BJP follow earlier accusations made by Delhi Chief Minister Atishi, who accused BJP leaders of bribing voters in the New Delhi constituency. Atishi alleged that BJP’s Parvesh Sahib Singh Verma, a former Member of Parliament from West Delhi, was caught distributing money at his official residence in an effort to influence voters. In response to the bribery allegations, a criminal complaint has been filed against Verma at the Barakhamba Police station in New Delhi. The complaint accuses the former Lok Sabha MP of offering bribes to voters to sway the outcome of the election. Assembly polls in Delhi are expected to be held in February 2025. In the 2020 elections, AAP won 62 of the 70 seats, while the BJP secured eight. (With inputs from agencies)

2024-12-29 15:06

2024-12-29

15:06

moneycontrol.com

https://www.moneycontrol.com/news/india/katra-remains-shut-for-5th-day-against-ropeway-project-bjp-mla-joins-protesters-12899635.html

Katra remains shut for 5th day against ropeway project; BJP MLA joins protesters

The Shri Mata Vaishno Devi Sangharsh Samiti, which has called for the shutdown, announced that all activities in Katra would remain suspended during the bandh..

Katra, the base camp for the Vaishno Devi pilgrimage in Jammu and Kashmir, remained shut for the fifth consecutive day on Sunday in protest against a proposed ropeway project in the Trikuta hills, with BJP MLA Baldev Raj Sharma threatening to sit on a hunger strike if those detained are not released within 24 hours. Meanwhile, five men continue to sit on a hunger strike, demanding the release of those detained by police during earlier demonstrations in the holy town.The Shri Mata Vaishno Devi Sangharsh Samiti, which has called for the shutdown, announced that all activities in Katra would remain suspended during the bandh.Shops, restaurants and business establishments remained closed for the fifth day in Katra, and traffic was off the roads following the samiti’s call for the protest. The bandh, which began on Wednesday, has disrupted normal life in the busy town of Katra, where thousands of pilgrims arrive daily to pay obeisance at the cave shrine of Vaishno Devi.Sharma, who joined the protesters on Sunday, warned the administration of a chain hunger strike if the detained samiti members are not released within 24 hours.”I will sit on a hunger strike with my people if the administration does not release those detained. The administration should immediately release them,” the Bharatiya Janata Party (BJP) MLA told the protesters. He praised the unity shown by the people of Katra. ”The residents of Katra have proven that we stand together in this fight. I thank youngsters and women for supporting this protest,” Sharma said.He added that the BJP has raised the issue with Union Home Minister Amit Shah and other leaders in Delhi.”Our representatives went to Delhi and the home minister has taken cognisance of the issue. The leadership has been asked to find a solution. That is why I am here with you,” he said.The Shri Mata Vaishno Devi Sangharsh Samiti initially called for the shutdown on December 25. On Friday night, it extended the bandh by 72 hours to press its demands, including shelving the proposed ropeway project and releasing the detained protesters.Five men are sitting on a hunger strike, demanding the release of the 18 samiti members detained during a protest march against the proposed ropeway project. Several protesters, including two samiti leaders — Bhupinder Singh and Sohan Chand — were detained by police during Wednesday’s protest and taken away in a police vehicle.The Shri Mata Vaishno Devi Shrine Board announced plans last month to install a ropeway to facilitate access to the temple for senior citizens, children and others who find the 13-km track to the cave shrine challenging.The proposed Rs 250-crore ropeway project will connect Tarakote Marg to Sanji Chhat, leading to the cave shrine in Reasi district.

2024-12-29 14:55

2024-12-29

14:55

moneycontrol.com

https://www.moneycontrol.com/news/world/syrian-embassy-in-lebanon-suspends-services-after-assad-s-relatives-arrested-from-beirut-airport-12899602.html

Syrian embassy in Lebanon suspends services after Assad's relatives arrested from Beirut airport

Members of security forces of the newly formed Syrian government stand guard at a security checkpoint on the Syrian border with Lebanon. (AP photo).Related stories.

The Embassy of Syria in Lebanon suspended its consular services on Saturday, a day after two relatives of deposed Syrian President Bashar Assad were arrested at the Beirut airport with allegedly forged passports. In another development, Lebanese authorities handed over dozens of Syrians — including former officers in the Syrian army under Assad — to the new Syrian authorities after they were caught illegally entering Lebanon, a war monitor and Lebanese officials were quoted as saying by AP. The U.K.-based Syrian Observatory for Human Rights reported on Saturday that 70 Syrians, including former army officers, were handed over by a Lebanese security delegation to the security forces of the new Syrian government, led by the former insurgent group Hayat Tahrir al-Sham, or HTS. The report was confirmed by three Lebanese judicial officials who spoke to AP on condition of anonymity. On its official Facebook page, the Syrian embassy announced that consular work was suspended “until further notice” at the order of the Syrian foreign ministry. The announcement did not give a reason for the suspension. However, two Lebanese security officials, who spoke to the news agency AP on condition of anonymity because they were not authorized to speak publicly, said the suspension was ordered because the passports belonging to Assad’s relatives — the wife and daughter of one of his cousins — were believed to have been forged at the embassy. Sporadic tensions in northeastern Syria HTS leader Ahmad al-Sharaa, formerly known as Abu Mohammed al-Golani, has largely succeeded in calming fears within and outside of Syria that his group would unleash collective punishment against communities that supported Assad’s rule or attempt to impose strict Islamic law on the country’s religious minorities. However, in recent days, sporadic clashes have broken out between the HTS-led security forces and pro-Assad armed groups. The country’s new security forces have launched a series of raids targeting officials affiliated with Assad and have set up checkpoints in areas with significant populations of the Alawite religious minority to which the former president belongs to search for weapons. There have also been ongoing tensions and clashes in northeastern Syria between Kurdish-led forces and armed groups backed by Turkey. Many Kurds have viewed the new order in Damascus, which appears to have strengthened Turkey’s hand in Syria, with anxiety, AP reported. On Saturday, hundreds of protesters convened by Kurdish women’s groups participated in a demonstration in the northeastern city of Hasaka to demand women’s rights in the new Syria. Perishan Ramadan, a participant from Hasaka, said the new government “is worse than Bashar” and that its leaders are Islamist extremists who “don’t accept any role for women.” While the country’s new leaders have not attempted to impose Islamic dress or other conventions, it remains to be seen what role women will have in the new order and whether they will hold political or government positions. (With inputs from AP)

2024-12-29 14:02

2024-12-29

14:02

moneycontrol.com

https://www.moneycontrol.com/technology/apple-s-answer-to-google-lens-is-here-how-to-use-visual-intelligence-on-these-iphones-article-12899618.html

Apple's answer to Google Lens is here: How to Use Visual Intelligence on these iPhones

Visual Intelligence.

With the release of iOS 18.2, Apple has unveiled a new feature called Visual Intelligence, which aims to compete with Google Lens. This technology uses the power of the iPhone’s camera to instantly provide information about the objects and surroundings within your vicinity. Things to keep in mindEnsure your iPhone is running iOS 18.2 or later.You must have an iPhone 16 Pro or iPhone 16 Pro Max to use Visual IntelligenceHere’s a step-by-step guide on how to use Visual Intelligence:Launch the Camera application on your iPhone.Press and hold the Camera Control button (a new button on iPhone 16 models) to activate Visual Intelligence.Point your camera towards the object or location you wish to learn about.Visual Intelligence will provide detailed information about the object or location, including its name, description, and pertinent data.Depending on the object, you may perform actions such as contacting a business, reviewing customer feedback, or even making a reservation. How to use Visual Intelligence for textPoint camera at text, press and hold Camera Control button to analyse. You can summarise, translate, read text aloud, identify contact information, create calendar events, send emails.Using ChatGPT for Visual Intelligence You can use Visual Intelligence to ask ChatGPT for information about objects or places. Simply direct your camera at the object and ask ChatGPT for details

2024-12-29 13:53

2024-12-29

13:53

moneycontrol.com

https://www.moneycontrol.com/explainers/elon-musk-donald-trump-and-the-h-1b-uproar-how-immigration-divided-the-maga-base-article-12899598.html

Elon Musk, Donald Trump, and the H-1B uproar: How immigration divided the MAGA base

Trump’s H-1B pivot and Elon Musk’s bold defense of immigrant talent have ignited a fierce debate, testing the unity of the MAGA movement..Related stories.

Donald Trump has always been a lightning rod for controversy. Though he already made history by clinching the presidency, his latest move has sent shockwaves through his most loyal supporters. At the heart of the uproar? The seemingly innocuous H-1B visa program. For many in his 'America First' camp, Trump’s recent embrace of skilled immigration feels like a betrayal of the very doctrine that catapulted him to the presidency. This is the story of how a single appointment, a few offhand remarks, and the fiery personalities of Elon Musk and Vivek Ramaswamy ignited a political firestorm, exposing fault lines in Trump’s coalition and raising bigger questions about the future of US immigration policy. All of this happening on Musk's X, but we'll get there in a while. It all started with Sriram Krishnan Every storm has its eye, and in this case, it’s Sriram Krishnan, a venture capitalist and AI expert of Indian origin. Trump’s decision to appoint Krishnan as a senior policy adviser on artificial intelligence was enough to make MAGA loyalists sit up and squint suspiciously. Krishnan’s pro-immigration stance—he’s advocated for eliminating green card caps and increasing skilled worker visas—made him a curious pick for a former president whose entire brand was built on restricting immigration. Trump didn’t help matters when he toldThe New York Post:“I have many H-1B visas on my properties. I've been a believer in H-1B. I have used it many times. It's a great program.”For a base that rallied around promises to 'hire American,' these words landed like a gut punch. Elon Musk and Vivek Ramaswamy enter the chat As the MAGA world reeled, two of Trump’s closest allies—Elon Musk and Vivek Ramaswamy—decided to double down on their support for skilled immigration. Musk, who is as synonymous with innovation as he is with stirring the pot, jumped into the fray on X (formerly Twitter). He dropped this bombshell: "“The number of people who are super talented engineers AND super motivated in the USA is far too low.”Your understanding of the situation is upside-down and backwards.OF COURSE my companies and I would prefer to hire Americans and we DO, as that is MUCH easier than going through the incredibly painful and slow work visa process.HOWEVER, there is a dire shortage of extremely Elon Musk (@elonmusk)December 25, 2024 To Musk, the solution was obvious: bring in the world’s best and brightest, even if it means opening the doors wider for immigrants. Ramaswamy, never one to shy away from a debate, chimed in with his own take. He argued that the preference for immigrant talent isn’t about intelligence but about drive, posting: "The reason top tech companies often hire foreign-born & first-generation engineers over 'native' Americans isn't because of an innate American IQ deficit... A key part of it comes down to the c-word: culture.” The reason top tech companies often hire foreign-born & first-generation engineers over native Americans isnt because of an innate American IQ deficit (a lazy & wrong explanation). A key part of it comes down to the c-word: culture. Tough questions demand tough answers & if Vivek Ramaswamy (@VivekGRamaswamy)December 26, 2024 Ramaswamy’s suggestion that American workers lack the hunger and grit of immigrants hit a nerve. MAGA loyalists didn’t just disagree—they felt personally attacked. MAGA fights back: 'Betrayal!' For Trump’s core supporters, Krishnan’s appointment and the pro-immigration rhetoric coming from Musk and Ramaswamy were akin to treason. Leading the charge was far-right provocateur Laura Loomer, who lashed out on social media. The debate ignited this week when Laura Loomer, a right-wing influencer known for her controversial, often racist, and conspiratorial rhetoric, blasted Donald Trump’s decision to appoint Sriram Krishnan as an adviser on artificial intelligence policy in his upcoming administration. Krishnan, a proponent of expanding skilled immigration, quickly became a target of Loomer’s ire. Loomer wasted no time accusing Trump of betraying his “America First” policy, claiming that the tech executives aligning with him were simply out to line their own pockets. She didn’t mince words, calling Indian immigrants 'invaders' and branding Krishnan’s appointment as 'deeply disturbing.' Loomer also took aim at Musk, accusing him of censoring her posts on X—a feud that has been simmering for months. Then there was Steve Bannon, Trump’s former chief strategist and self-proclaimed MAGA standard-bearer. On his “War Room” podcast, Bannon slammed the H-1B program as:“An economic and financial scam with a dark underpinning of hatred of American citizens and our beloved Republic.”The backlash wasn’t just about immigration—it was about identity. For many MAGA supporters, this wasn’t just a policy debate. It was a battle for the soul of the movement. Trump’s H-1B history: A tale of two stances This isn’t the first time Trump has found himself walking a tightrope on immigration. During his presidency, he signed the 'Buy American and Hire American' executive order, tightening the rules on H-1B visas and emphasizing job opportunities for US citizens. Yet, as a businessman, Trump has relied heavily on immigrant labour, particularly through H-1B visas, at his properties. This duality—slamming the program as a president while benefiting from it as a businessman—has always been a sore spot. His latest comments praising the H-1B program only reignited accusations of hypocrisy, leaving his base feeling betrayed. Elon Musk doesn’t hold nack Amid the backlash, Musk turned the tables on his critics, dismissing them as 'contemptible fools.' In a pointed rebuke, he warned that MAGA hardliners were sabotaging their own cause: “They will absolutely be the downfall of the Republican Party if they are not removed.”The contemptible fools Im referring to are those in the Republican Party who are hateful, unrepentant racists.They will absolutely be the downfall of the Republican Party if they are not removed. Elon Musk (@elonmusk)December 28, 2024 It was a rare public clash within Trump’s orbit, with Musk essentially telling the MAGA crowd to adapt or perish. Ramaswamy tries damage control Ramaswamy, for his part, attempted to walk back some of his earlier comments. He acknowledged that the H-1B system is “badly broken” and in need of reform, but his critiques of American culture continued to draw ire. His remarks painted him as someone more aligned with Silicon Valley than the Rust Belt—a dangerous position for anyone vying for Republican votes. Yup, Ive long said the current H-1B system is badly broken & needs to be gutted. It shouldnt use a lottery, it should be based on pure MERIT. It shouldnt tether workers to just one corporation. Same principles I favor today.https://t.co/tcMSxAaw6WVivek Ramaswamy (@VivekGRamaswamy)December 27, 2024 A broader debate on immigration and culture The H-1B controversy has exposed deep divides within the Republican Party. On one side are traditionalists who see immigration as a zero-sum game, where foreign workers take jobs from Americans. On the other are pragmatists like Musk and Ramaswamy, who argue that skilled immigration is vital for maintaining US competitiveness in a globalized economy. Even Nikki Haley, another Republican presidential hopeful, jumped into the debate, taking a more populist tone. She declared: “There is nothing wrong with American workers or American culture. All you have to do is look at the border and see how many want what we have.” Haley’s comments served as a sharp counterpoint to Ramaswamy’s critique, highlighting the growing fault lines within the party. What’s next for Trump’s second term? As President-elect Trump prepares to take office, the stakes couldn’t be higher. Balancing his “America First” agenda with the demands of a tech-driven economy will require a delicate touch. The path to an H-1B visa The H-1B visa is a special gateway for professionals with expertise in specialized fields, offering them the chance to work in the U.S. But it's not just anyone who can get their hands on this coveted visa. To qualify, applicants must possess a bachelor’s degree or higher in a relevant field and demonstrate both theoretical and practical knowledge in their area of expertise. The catch? These highly skilled professionals must have a temporary job offer from a U.S. employer that pays them at least the same wage as other workers with similar qualifications or the prevailing wage in that geographic area. Every year, the U.S. issues 65,000 H-1B visas for new applicants, but for those with a master's degree or higher, an additional 20,000 visas are up for grabs. The visa lasts for three years, with the possibility of extending it for another three. Yet, the story doesn’t end there—those already on an H-1B visa can apply for yearly extensions. In 2023 alone, more than 309,000 extensions were approved, showing the program’s enduring demand. As for where H-1B visa holders come from, India dominates the list, contributing over 70% of all recipients. China follows with more than 10%, while countries like Canada, Korea, the Philippines, Mexico, and Taiwan round out the rest, making this program a true global connector.

2024-12-29 13:50

2024-12-29

13:50

moneycontrol.com

https://www.moneycontrol.com/entertainment/blackpink-s-ros-tops-december-brand-list-outshining-k-pop-icons-with-apt-and-solo-album-success-article-12899560.html

BLACKPINK's Rosé tops December brand list, outshining K-Pop icons with APT. and solo album success

BLACKPINK's Rosé.Related stories.

As 2024 comes to an end, the Korean Business Research Institute unveiled December’s brand reputation rankings for individual idols, recognizing their outstanding contributions and influence. Topping the list is BLACKPINK's Rosé, a testament to her immense talent and the unwavering support of fans globally. The year 2024 was a thrilling ride for K-pop enthusiasts, featuring major highlights like BTS' Jin debuting his first solo album, BLACKPINK's Rosé topping charts with a Bruno Mars collaboration, and the eagerly awaited returns of G-Dragon and 2NE1. The analysis, covering November 28 to December 28, evaluates the popularity and influence of 1,730 idols using metrics like consumer participation, media coverage, interaction, and community awareness. BLACKPINK's Rosé retained her top spot this month, outperforming major K-pop icons such as BIGBANG's G-Dragon and BTS members Jin, V, and Jungkook. Rosé claimed the top spot on the December brand reputation list, largely due to her hit track APT. with Bruno Mars and her debut solo album Rosie. As reported by Soompi, the 27-year-old singer achieved a brand reputation index of 18,825,475. Keyword analysis linked high-ranking phrases such as APT., Rosie, and birthday to her name, while related terms like participate, confess, and record also stood out. Impressively, her positivity-negativity analysis revealed 93.28% positive reactions. Also Read:RESCENE mentioned in Grammy's list of 10 K-Pop songs that electrified 2024, check out here BIGBANG’s G-Dragon climbed to second place with a brand reputation index of 6,115,841, while Aespa’s Karina secured third with 5,998,096. IVE’s Jang Won Young followed in fourth, achieving a 10.31% increase from November, with an index of 5,874,248. BTS’ Jin, who recently launched his first solo album Happy, rounded out the top five with an index of 5,252,011.

2024-12-29 13:36

2024-12-29

13:36

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/dalal-street-week-ahead-manufacturing-pmi-auto-sales-fii-flow-among-10-key-factors-to-watch-12899604.html

Dalal Street Week Ahead: Manufacturing PMI, auto sales, FII flow among 10 key factors to watch

Dalal Street Week Ahead.Related stories.

The market managed to recover a bit of losses in the last week ended December 27 and closed with nearly a percent gains. Overall, it was a rangebound week due to lack of major triggers on the domestic as well as global front due to the start of year-end and holiday season, though the concerns like consistent FII outflows, and weakening rupee against US dollar with reduced expectations for interest rate cuts in 2025 remained. The benchmark indices had fallen nearly 5 percent in the preceding week. For the coming week starting from December 30, the market is expected to remain rangebound with focus on the Manufacturing PMI numbers and monthly auto sales data, while in the short term, the focus may gradually shift to December quarter earnings andUnion Budget. The Nifty 50 rose 226 points (0.96 percent) to 23,813.4, and the BSE Sensex climbed 657 points (0.84 percent) to 78,699, while the Nifty Midcap 100 and Smallcap 100 indices underperformed benchmarks, up 0.13 percent and 0.22 percent, respectively. Banking, FMCG, auto and pharma stocks gained while IT and metal stocks were under pressure. "Looking ahead, significant market attention is expected for the upcoming Q3 results, which will play a crucial role in shaping market trajectory. Investors are likely to align their portfolios based on pre-budget expectations," Vinod Nair, Head of Research at Geojit Financial Services said. Additionally for the week ahead, according to him, key data points such as the PMI data for India, the US, and China, as well as US jobless claims, will influence investor sentiment. The auto sector is likely to be in the limelight, aided by an expectation of a pickup in volumes in December and comfort in valuation, he said. Here are 10 key factors to watch next week: Global Economic Data Globally next week investors will keep an eye on the weekly jobs data and monthly vehicle sales numbers from the United States. Apart from that, final Manufacturing PMI numbers from several nations (including US, Japan, China and Euro zone) for last month of 2024 will also be watched. Domestic Economic Data On the domestic front, the fiscal deficit, and infrastructure output for November, as well as external debt numbers for Q3CY24 will be announced on December 31, while the HSBC Manufacturing PMI final data for December will be disclosed on January 2. Manufacturing PMI increased to 57.4 in December as per the provisional numbers, against 56.5 in November, signalling strong factory activity in the last month of the year. Further, bank loan and deposit growth for fortnight ended December 20, and foreign exchange reserves for week ended December 27 will be released on January 3. Foreign exchange reserves further declined to $644.39 billion in the week ended December 20, down by $8.48 billion compared to $652.87 billion in the previous week; in fact the reserves has consistently been decreasing from the record high of $704.89 billion seen in the week ended September 27 this year. Auto Sales The focus will also be on auto sales numbers for the final month of current calendar year scheduled to be released in the beginning days of January next week. Hence, auto stocks including Tata Motors, Maruti Suzuki India, Ashok Leyland, Mahindra & Mahindra, Eicher Motors, Hero MotoCorp, Bajaj Auto, TVS Motor, and Escorts Kubota will be in action next week. Most experts expect the single-digit growth in two-wheeler and passenger vehicle segment sales, with healthy growth in tractor sales, but commercial vehicle sales is likely to be subdued in December on year-on-year basis. FII Flow The market participants will also monitor the activity at institutional desk as FIIs (foreign institutional investors) were remained net sellers in the last week too, to the tune of Rs 6,323 crore which led the total outflow for December to Rs 10,444 crore in the cash segment extending net selling for third consecutive month but much lesser outflow compared to October and November, though they were net buyers in the primary market. The high valuation, along with appreciation in US dollar and bond yields caused net selling by FIIs. For the year, they net sold Rs 2.97 lakh crore. Experts expect FIIs to remain sellers in early 2025 given the rising US dollar index and bond yields, but their buying, henceforth, will depend on the economic growth and earnings. On other side, DIIs (domestic institutional investors) maintained their buying for the week, month as well as year, picking Rs 10,928 crore worth shares, Rs 27,474 crore and Rs 5.2 lakh crore, respectively, strongly compensating the FII outflow. In fact, thanks to DIIs who were buyers in every significant market fall as the market gained more than 9 percent in 2024 so far. Without their support, it would have been a negative or muted year for the equity market. Experts expect DIIs flow to increase in 2025. US dollar index gained 0.18 percent to close the last week at 108.006, the highest closing level since November 2022, extending uptrend for fourth consecutive week, while the US 10-year Treasury yield rallied 2.19 percent during the week to 4.629% (the highest level since April 2024), continuing northward journey for third straight week, especially after Federal Reserve outlook for 2025 and may be ahead of the start of Donald Trump's administration. Indian Rupee Given the consistent strong US dollar demand, the Indian rupee hit the all-time low 85.81 intraday on Friday, before finishing 44 paise lower for the week at 85.368 level (the all-time closing low). It plunged 83 paise in December, the biggest monthly decline since May 2023, while for the current year, it was down by 2.2 rupees, the biggest yearly fall after 2022, largely due to selling pressure of foreign investors in the domestic equity markets along with declining foreign exchange reserves and increasing trade deficits. Hence, the focus will remain on the currency move going ahead. "We expect a rupee to remain volatile in the coming week amid volatility in the dollar index and volatility in the domestic equity markets and a pair could trade in the range of 85.2200-86.4000," said Manoj Kumar Jain of Prithvifinmart Commodity Research. IPO On the primary market front, there is no impact of tepid equity market conditions as the participants will see four initial public offerings opening next week including one from the mainboard segment. Indo Farm Equipment will open its Rs 260-crore initial share sale on December 31 with price band of Rs 204-215 per share, while from the SME (small medium enterprise) segment, Technichem Organics' IPO will be launched on December 31, Leo Dry Fruits and Spices Trading on January 1 and Fabtech Technologies Cleanrooms on January 3. Anya Polytech & Fertilizers from the SME segment will close on December 30 and Citichem India on December 31, while the trading in their equity shares will commence on the NSE Emerge and BSE SME effective January 2 and 3, respectively. In mainboard segment, Ventive Hospitality, Senores Pharmaceuticals, and Carraro India will start trading on the bourses on December 30, followed by Unimech Aerospace and Manufacturing on December 31. Technical View Technically, the Nifty 50 remained ranged at 23,650-23,950 for the last week, forming small bullish candle with upper and lower shadows on the weekly timeframe, indicating rangebound trading, after a sharp fall in the previous week, when it reported long bear candle. Experts expect the rangebound trading to sustain in the coming week too with hurdle on the higher side at 24,000 (as sustaining above it can drive the index towards 24,300 zone) and support on the lower side at 23,650 (as breaking below it can push the index down to 23,500), though overall, the sentiment remains bearish considering the index traded below 10 and 20-week EMAs as well as in the lower band of Bollinger bands, experts said. F&O Cues The derivatives data suggested that the Nifty 50 index is likely to be in the broad range of 23,500-24,500 in the coming week as breaking and sustaining of either side can give firm direction to the market going ahead. On the weekly options data front, the maximum Call open interest was seen at the 24,500 strike, followed by the 24,000 and 24,200 strikes, with maximum Call writing at the 24,200 strike, and then the 24,100 and 24,500 strikes. On the Put side, the 23,500 strike holds the maximum open interest, followed by the 23,800 and 23,000 strike, with maximum writing at the 23,500 strike, and then the 23,000 and 23,900 strikes. India VIX The volatility index, India VIX, has fallen sharply by 12.17 percent during the week to 13.24 level, after 15.48 percent rally in the preceding week, giving comfort for bulls. If the VIX sustains below 14 mark, the bulls may remain comfortable. Corporate Action Here are key corporate actions taking place in the coming week:

2024-12-29 13:31

2024-12-29

13:31

moneycontrol.com

https://www.moneycontrol.com/news/india/explained-how-trump-s-return-has-renewed-debate-on-h-1b-visas-and-its-impact-on-indian-talent-12899601.html

Explained: How Trump's return has renewed debate on H-1B visas and its impact on Indian talent

Donald Trump.Related stories.

A fierce debate has broken out within Trump camp over the contentious issue of visas for highly skilled workers, with President-elect Donald Trump finding himself caught between his anti-immigration MAGA base and his new Silicon Valley allies, including Elon Musk and Vivek Ramaswamy. Trump’s return to the highest office has reignited the H-1B visa debate. Critics argue these visas displace American workers, but data shows otherwise. Significant cost and regulatory changes have impacted H-1B applications. Despite challenges, H-1B workers are crucial for addressing America’s tech talent shortage and driving innovation. Shifting H-1B trends The H-1B visa process, already a complex route for companies seeking skilled foreign workers, has become increasingly challenging due to significant cost hikes and regulatory changes. These shifts are impacting both the volume of applications and the overall feasibility for businesses. Why H-1B professionals are vital for innovation Tech leaders and policymakers argue that H-1B professionals are vital for innovation and economic growth in the U.S. Elon Musk, CEO of Tesla, underscored the shortage of skilled engineers, saying, "Immigrants are responsible for 36% of aggregate innovation in the US." Denial rates for H-1B applications spiked during Trump’s first term due to restrictive policies, peaking at 24% in FY 2018. However, recent years have seen approval rates improve, with a denial rate of just 2.5% in FY 2024. What Krishnan's White House role means for Indians Prominent Indian-American venture capitalist Sriram Krishnan known for his advocacy for merit-based immigration reform, is expected to play a vital role in shaping the future of technology in the US. In a historic move that highlights the increasing influence of Indian-Americans in US politics, President-elect Donald Trump appointed prominent Indian-American venture capitalist Sriram Krishnan as Senior Policy Advisor for Artificial Intelligence at the White House Office of Science and Technology Policy. This move is expected to significantly increase opportunities for skilled workers from India, especially in fields like technology and engineering. Currently, there is a cap on the number of H-1B visas issued each year from any single country. This means that countries with large populations of skilled workers, like India, face a limit on how many visas can be granted to their citizens There is a US proposal to eliminate this country cap. This means that there would no longer be a limit on the number of H-1B visas that can be issued to applicants from a single country. Instead, the allocation could be based solely on merit or other factors, potentially benefiting countries with a high number of skilled workers. How Indian nationals will gain from the expected move? Indian nationals stand to gain from the proposed changes, as the current visa cap disproportionately affects countries with high demand. For decades, Indians have faced protracted wait times for both family- and employment-based visas. According to the US Department of State, over 1 million Indians are awaiting green cards, with some employment-based applicants predicted to wait more than 100 years. Family-sponsored visa applicants also face delays, with priority dates stretching back to 2006 for certain categories.

2024-12-29 13:06

2024-12-29

13:06

moneycontrol.com

https://www.moneycontrol.com/news/world/pak-solider-killed-11-wounded-in-firing-by-afghan-taliban-forces-12899595.html

Pak solider killed, 11 wounded in firing by Afghan Taliban forces

The incident of firing occurred days after Pakistan targeted terrorist positions in Paktika province of Afghanistan to punish the banned TTP militants, allegedly using Afghan soil to train and attack Pakistan..Related stories.

Islamabad, Dec 29 (PTI) A Pakistan paramilitary soldier has been killed and 11 others injured in firing by the Afghan Taliban forces at the border posts of Pakistan troops, days after strikes by Pakistan targeted the banned Tehreek-e-Taliban (TTP) militants. According to defence sources, the Afghan troops resorted to “unprovoked fire on multiple Pakistani border posts” in the Upper Kurram district on Saturday morning. They fired at posts in Ghozgarhi, Matha Sangar, Kot Ragha and Tari Mengal areas using both light and heavy weaponry, sources said. Pakistani forces retaliated, inflicting significant losses on the other side as seven to eight personnel of the Afghan forces were killed in the exchange of fire, sources added. However, in the fire exchange, a “Frontier Constabulary (FC) soldier was killed and 11 others were injured”. The incident of firing occurred days after Pakistan targeted terrorist positions in Paktika province of Afghanistan to punish the banned TTP militants, allegedly using Afghan soil to train and attack Pakistan. The Saturday attack came after militants made an infiltration attempt on Friday night, using the posts controlled by the Afghan Taliban to cross into Pakistani territory, but the attempt was thwarted. “The firing was effectively responded to and there are confirmed reports of heavy losses on the Afghan side with over 15 militants killed and many others wounded,” according to sources. Reportedly, the Afghan forces abandoned their posts and left the area after the incident. Relations between Pakistan and Taliban-led Afghanistan have deteriorated gradually since they came to power in 2021 because the latter allegedly failed to rein in the TTP rebels who have increased attacks on the Pakistani forces.

2024-12-29 12:55

2024-12-29

12:55

moneycontrol.com

https://www.moneycontrol.com/entertainment/govinda-s-daughter-tina-ahuja-faces-backlash-for-her-only-mumbai-girls-complain-about-period-pain-statement-watch-article-12899530.html

Govinda's Daughter, Tina Ahuja faces backlash for her 'Only Mumbai girls complain about period pain' statement, watch

Tina Ahuja gets backlash after talking about period pain.Related stories.

Tina Ahuja, daughter of actor Govinda, has been the center of attention recently due to a controversial remark she made about periods. During an interview with Hautterfly, her comment left Reddit users in shock, sparking widespread discussion and debate. Known for her candid nature, Tina's statement quickly became a hot topic on social media, with many expressing surprise at her boldness. The incident has further brought her into the spotlight, making her one of the most talked-about figures recently. The former actress, Tina Ahuja, caused a stir when she claimed that she has never experienced cramping during her periods and described it as an "urban concept." A clip from Tina Ahuja's interview was shared on Reddit, igniting a storm of reactions among users. The video was posted with the caption, "Period pain is not real, guys! Trust Govinda's wife and daughter."Peeiod pain is not real guys! Trust Govinda's wife and daughterbyu/illuminauntyinBollyBlindsNGossip Many Redditors were shocked by her statement, with one user commenting, "As if men are not enough to no understand women problems!" Another user criticized her for her ignorance, writing, "why education and women health education is important" The video quickly went viral, fueling intense online discussions. However, that was not all, a user cleared the misconception and shared, "The reality is not everyone goes through a similar level of pain; level of pain differs from woman to woman." Another enraged used commented, "I’ve never heard anything more stupid in my lifetime. Everyone is different and everyone’s bodies act differently.." Another comment read, "What do you expect from the family of a dude who LITERALLY shot himself in the foot lmao. I’m glad these people aren’t relevant anymore.". Tina Ahuja and her mother, Sunita Ahuja appeared for an interview earlier in December 2024. During the conversation, Tina was heard dismissing period pain as an urban concept. She stated that cramps during periods was the result of the circles who talk about them. She was quoted saying: "I have stayed most of the time in Chandigarh, and I have heard only these girls from Bombay speak about cramps. Half of the problem comes from setting up these circles who are talking about the problem, and sometimes the ones who don’t get cramps also start to feel it psychologically. So many women in Punjab and other small cities don’t even realise when they undergo menopause. Maybe my body is a little desi. I have never had any back pains. Everything is perfect, 28 days cycle. But, here I see girls always talking about... You eat your ghee, stop dieting so much; you have a good night's sleep, and everything becomes normal. You have a good diet. Most of the girls diet so much looking at Instagram, listening to it, that problems which don't even exist happen." Tina Ahuja's mother, Sunita, also supported her daughter's views, mentioning that they consume a spoonful of ghee daily.

2024-12-29 12:35

2024-12-29

12:35

moneycontrol.com

https://www.moneycontrol.com/news/india/constitution-stood-every-test-of-time-pm-modi-in-mann-ki-baat-12899592.html

Constitution stood every test of time: PM Modi in Mann Ki Baat

Narendra Modi.

Prime Minister Narendra Modi on Sunday said the Constitution has stood every test of time, lauding it as "our guiding light". Speaking in his monthly Mann ki Baat broadcast, Modi noted that the next Republic Day will mark the 75th anniversary of the implementation of the Constitution. "It is a matter of immense pride for all of us. The Constitution which its makers gave to us has stood every test of time. It is our guiding light, our guide," he said. Modi said he reached this position in life because of the country's guiding document. He asked people to visit the website constitution75.com which, he said, has been launched to link citizens with the constitutional heritage and legacy. They can read the Constitution in different languages, ask questions and upload their videos leading to its preamble, he said. His government, Modi said, has launched yearlong activities since the Constitution Day on November 26. Opposition parties, especially the Congress, have accused his government of weakening the Constitution, a charge vehemently denied by the ruling BJP. Modi has constantly highlighted his government's efforts to strengthen constitutional values and spirit and has, in turn, accused the main opposition Congress of subverting the country's guiding document whenever it was in power.

2024-12-29 12:28

2024-12-29

12:28

moneycontrol.com

https://www.moneycontrol.com/technology/android-auto-13-4-update-bring-music-player-redesign-here-s-what-has-changed-article-12899483.html

Android Auto 13.4 update bring music player redesign, here’s what has changed

Android Auto.

Google has started rolling out a redesigned music player interface in the latest Android Auto update. The 13.4 update, which has been available over the past week, introduces changes aimed at enhancing the user experience across all audio apps, including Spotify, Apple Music, and others. Android Auto music player update: What has changedThe updated music player layout on Android Auto moves the album art to the left side of the display. This adjustment frees up space next to the album art for the track progress bar, which now includes the track title, artist, and playback time below it, similar to the previous design. To accommodate this change, the text has been slightly reduced in size. The control buttons below the track details have also been modified to span the full width of the display, though their functionality remains consistent with earlier versions. These changes aim to maintain a familiar interface for drivers, aligning with Android Auto’s goal of a standardized design across audio apps. This approach ensures ease of use without requiring users to relearn layouts for different music platforms. The redesign also reflects updates to Android Auto’s Material You aesthetic, including accent colors and font changes across the platform. The appearance of the redesigned music player may vary depending on a vehicle’s screen shape, resolution, and DPI. The Android Auto 13.4 update follows the platform’s 2023 redesign, which introduced a streamlined interface for better usability. The latest changes suggest Google is continuing to refine the user experience while maintaining safety and consistency for drivers. How to download the Android Auto 13.4 updateAndroid Auto 13.4 update is now rolling out and users can download or check for the update manually using Google Play Store. To do this, head to Google Play Store, search for Android Auto and then tap on it to open and see if there’s an update pending. If yes, tap on the Update button to install the latest version of Android Auto.

2024-12-29 12:05

2024-12-29

12:05

moneycontrol.com

https://www.moneycontrol.com/news/india/rg-kar-rape-to-tirupati-laddu-row-top-10-developments-that-made-headlines-in-2024-12899536.html

RG Kar rape to Tirupati laddu row: Top 10 developments that made headlines in 2024

Following the controversy, the Tirupati temple underwent 'ritualistic sanitation'.

Like every year, 2024 was full of highs and hiccups. From the not-so sweet controversy surrounding the Tirupati laddu to escalating tensions between India and Canada, the year saw India stand witness to several unprecedented events. Join us in looking at the top 10 issues that shaped 2024. Ram Temple inauguration The much-awaited Ram Temple was inaugurated in Ayodhya on January 22.  Thousands of people, including celebrities and politicians, from across the world gathered to witness the consecration of the idol of Ram Lalla in the newly constructed temple. In November 2019, a five-judge bench of the Supreme Court ordered the disputed land to be handed over to a trust to build the Ram Janmabhoomi temple. The promise to build a grand Ram Mandir had been a consistent promise made by the BJP in all its election manifestos, including the one released ahead of the 2024 Lok Sabha election. NEET paper leak Controversy over the NEET-UG 2024 broke in June after allegations that the question paper had been leaked.  It was alleged that 67 students obtained a perfect score, a higher number than in previous examinations. In addition to this, the government decided to award grace marks to 1,563 candidates who lost out on time due to wrong question paper being handed to them. The government also declared NEET UG results on June 4 instead of June 14. Petitions were filed in the Supreme Court and in high courts to nullify the examination owing to the paper leak and grace marks allotted to candidates. There are also allegations about discrepancies in exam results. The top court refused to cancel the NEET-UG 2024 exam on the grounds of paper leak. However, the National Testing Agency and the Union government withdrew the grace marks. RG Kar rape and murder case On August 9, a 31-year-old post-graduate trainee doctor was found dead in semi-naked condition on the fourth floor in the seminar hall of the state-run RG KAR Medical College and Hospital. The incident saw thousands from across the country and all walks of life hit the street seeking justice for the victim. In September, the CBI arrested RG Kar Medical College and Hospital's ex-principal Sandip Ghosh, two vendors and one security official. The Supreme Court will hear the case again on March 17. Waqf (Amendment) Bill The Lok Sabha referred the Waqf (Amendment) Bill, 2024, to the Joint Parliamentary Committee (JPC) during the last monsoon session of Parliament on August 9, 2024. The proposed amendments to the Waqf Act, 1995, aim to reform the governance of Waqf properties. The changes, framed as efforts to bring greater accountability and transparency, have sparked significant opposition from both lawmakers and the Muslim community. MUDA case The Karnataka High Court in September dismissed Chief Minister Siddaramaiah’s plea challenging Governor Thaawarchand Gehlot's nod to an investigation against him over alleged Mysuru Urban Development Authority (MUDA) land case. It was alleged that Siddaramaiah’s wife Parvathi received 14 housing sites from MUDA in exchange for a 3.16-acre plot that was “illegally” acquired in 2021 during the previous BJP regime. This allegedly resulted in a Rs. 55.80 crore loss for the state. Tirupati laddu row The famous laddus offered as “prasadam” at the temple town of Tirupati became the centre of a not-so-sweet political controversy in September. Andhra Pradesh chief minister Chandrababu Naidu alleged that the previous government headed by YSRCP's Jagan Mohan Reddy used substandard ingredients, including animal fat, in the preparation of Tirupati laddus.  Jagan Mohan Reddy slammed the "false report” and accused Naidu and his TDP of "using faith for politics". underwent “ritualistic sanitation”. Following the controversy, the temple underwent “ritualistic sanitation”.  The matter also reached the Supreme Court. Delhi gets new CM Atishi, the lone woman minister in the Delhi Cabinet, was selected for the Delhi Chief Minister's post by the ruling Aam Aadmi Party's (AAP) legislators in September. The decision was announced by the party’s convener Arvind Kejriwal two days after he walked out of Tihar jail. Ahead of the elections in February 2025, Atishi was also picked to push the AAP government’s key schemes. Her rise to prominence accelerated after Kejriwal’s arrest by the Enforcement Directorate on March 21, and she took on several of the party’s responsibilities, becoming a key public face. India-China border patrolling In a significant development, India and China in October agreed to resume joint patrolling along the Line of Actual Control (LAC), focusing on the disputed regions of Depsang Plains and Demchok.  After years of heightened tensions since 2020, this breakthrough was seen as a crucial step towards eventual disengagement. The agreement allows Indian troops access to patrolling points (PP) 10 to 13 in the Depsang Plains, while in Demchok, patrolling will extend to Charding Nullah. India-Canada row The conflict between India and Canada reignited in October, with the two countries announcing the expulsion of diplomats amid accusations that Indian government agents were involved in activities that threaten the safety of Canadians. Relations have been fraught since 2023, when Canadian Prime Minister Justin Trudeau said he had evidence linking Indian agents to the assassination of Khalistani separatist Hardeep Singh Nijjar. However, India rejected the allegations as "absurd" and "preposterous," calling them a part of Trudeau's political agenda. Bomb hoax The year 2024 saw a surge in bomb threats across India. Hundreds of schools received threats causing widespread panic between April and December. In December alone, more than 100 schools reportedly received bomb threats from unknown senders, who have yet to be identified, with all of them being declared hoaxes. Not just schools, flights and hospitals also reportedly got such threats. Minister of State for Civil Aviation Murlidhar Mohol, responding to a question in Rajya Sabha in November, said the number of hoax threat calls to airlines increased from 122 in 2023 to 994 in 2024 as of November 13 — a 714.7 per cent uptick.

2024-12-29 11:49

2024-12-29

11:49

moneycontrol.com

https://www.moneycontrol.com/news/world/south-korea-plane-crash-at-least-85-feared-dead-as-plane-explodes-on-landing-12899452.html

South Korea plane crash: All except two are presumed dead on Jeju Air flight carrying 181 people, say authorities

Firefighters carry out extinguishing operations on an aircraft which drove off runaway at Muan International Airport in Muan, South Jeolla Province, South Korea, December 29, 2024. (REUTERS).

A plane with malfunctioning landing gear veered off the runway, hit a fence and caught fire Sunday at an airport in southern South Korea, killing all, except two on Jeju Air flight carrying 181 people, said authorities with knowledge of the matter. The emergency office said the fire was almost put out and rescue officials were trying to remove passengers from the Jeju Air passenger plane at the airport in the southern city of Muan. It said the plane with about 180 people was returning from Bangkok. Fire authorities say that among the 181 people aboard the Jeju Air flight from Bangkok, all but two are presumed dead after the aircraft crashed during an emergency landing at Muan International Airport in South Korea on Sunday morning, according to Yonhap News. Aircraft maker Boeing issuing a statement said that they are extending complete support to Jeju Air in this hour crisi. Boeing also expressed condolence over the tragic incident. South Korean media outlets including Yonhap news agency reported that at least 28 people had died in the fire. The Muan Fire Station said it couldn't immediately confirm the casualty reports. It said emergency workers pulled out at least two passengers. Yonhap reported the plane veered off the runway and collided with a fence. Emergency officials said they were examining the exact cause of the fire. Local TV stations aired footage showing thick pillows of black smoke billowing from the plane engulfed with flames.The incident came as South Korea is embroiled into a huge political crisis triggered by President Yoon Suk Yeol's stunning imposition of martial law and ensuing impeachment. Last Friday, South Korean lawmakers impeached acting President Han Duck-soo and suspended his duties, making Deputy Prime Minister Choi Sang-mok to take over. Choi ordered officials to employ all available resources to rescue the passengers and crew, according to Yonhap news agency. (With AP inputs)

2024-12-29 11:45

2024-12-29

11:45

moneycontrol.com

https://www.moneycontrol.com/news/business/simplification-to-be-the-focus-for-taxation-in-2025-12899521.html

Simplification to be the focus for taxation in 2025

On the income tax front, the government has started a review of the Income Tax Act, 1961, to make it simple and easier to understand..Related stories.

Simplification of direct and indirect tax policies will be the main focus area for the government in the New Year after beginning the review of the six-decade-old income tax law and rationalisation of the GST rate in 2024. With monthly gross GST collections stabilising at around Rs 1.8 lakh crore and gross direct tax collections steadily rising at 20 per cent rate, the effort to ease compliance burden for individuals as well as corporates will gain traction. On the GST front, individuals are awaiting a tax cut in life and health insurance premiums, which will bring down the cost of insurance, while businesses are awaiting the operationalisation of the GST Tribunal for faster dispute resolution. Also, the work on rationalising GST rates and slabs has been put in motion with a group of ministers (GoM) deliberating on the changes, but a final decision is expected only by the GST Council, comprising the Centre and state finance ministers. Currently, GST is a four-tier tax structure with slabs at 5 per cent, 12 per cent, 18 per cent and 28 per cent. Under GST, essential items are either exempted or taxed at the lowest slab, while luxury and demerit items attract the highest slab. Luxury goods like cars, washing machines, and demerit goods like aerated water and tobacco products attract cess on top of the highest 28 per cent slab. On the income tax front, the government has started a review of the Income Tax Act, 1961, to make it simple and easier to understand. Amendments to the I-T law, removing the obsolete provisions and making it concise, is likely to be tabled in Parliament as early as theBudgetsession. Besides, coordination between law enforcement agencies to curb tax evasion and strengthen anti-money laundering provisions over the years has earned India the highest rating from the global financial watchdog Financial Action Task Force (FATF) in 2024. India has been placed in “regular follow-up” — which is the highest rating category by FATF for India’s efforts to implement measures to tackle illicit finance including money laundering and terror funding. UK, France, and Italy are among the only G-20 countries which have been placed in this category apart from India. On the GST front, tax officers grappled with fake registration for the sole purpose of fraudulently claiming input tax credit (ITC) and defrauding the exchequer. As per information shared with the Parliament, between April-October 2024, GST officers detected cases of Input Tax Credit evasion of Rs 35,132 crore by 17,818 fake firms and arrested 69 persons. To check fake entities, the GST Council, comprising the Centre and states, has already brought in biometric authentication for certain suspicious businesses, under which the person seeking GST registration will be asked to go to an Aadhaar centre to have his biometrics verified. However, with trade and industry flagging challenges faced in getting registration, the GST Council in its meeting on December 21 decided to streamline the GST registration process and tasked the tax officers to work on its implementation. Goods and Services Tax (GST) authorities have so far been using OTP-based Aadhaar authentication to establish the identity of the applicants, seeking registration. AMRG & Associates Senior Partner Rajat Mohan said continued emphasis on rationalizing tax slabs, reducing litigations through a centralized appellate Tribunal, and leveraging data analytics will be crucial. The introduction of the Invoice Matching System (IMS) in 2025 will enhance transparency and accuracy in GST filings by automating invoice reconciliation and reducing fraudulent ITC claims. ”However, the transition may pose challenges for businesses, particularly small taxpayers, who could face increased compliance costs and technical difficulties,” Mohan said. Deloitte India, Partner and Leader, Indirect Tax, Mahesh Jaising said in 2025, anticipated reforms include GST rate rationalization, particularly for real estate and insurance sectors, as examined by GoMs, alongside the operationalization of the GST appellate tribunal. ”Technology upgrades, such as expanded B2C e-invoicing and implementation of the recently launched Invoice Management System, signal the government’s commitment to fostering a simplified, industry-friendly, and growth-oriented tax ecosystem,” Jaising said. Nangia Andersen LLP, Executive Director- Indirect Tax, Sivakumar Ramjee said in 2025, the Government is expected to focus on improved GST collection through GST amnesty schemes, bring clearer rules to tax Cryptos and Virtual assets, operationalize the GST tribunals, bring changes in E-way bill procedures and streamline IMS & introduction of Multi-factor authentication for accessing GSTN portal as an additional layer of security.

2024-12-29 11:39

2024-12-29

11:39

moneycontrol.com

https://www.moneycontrol.com/news/india/from-narendra-modi-s-triumph-to-rahul-gandhi-s-resurgence-newsmakers-who-defined-2024-12899505.html

From Narendra Modi's triumph to Rahul Gandhi's resurgence: Newsmakers who defined 2024

From breaking records to being wiped clean in the electoral battle, Indian political leaders kept dominating headlines through the year..Related stories.

As the year draws to a close, we look back at the prominent political figures who shaped the Indian political discourse. The nation, which voted for the 18th Lok Sabhaelectionsthis year, saw defining moments that changed and brought U-turns in thepoliticaljourneys of many. From breaking records to being wiped clean in the electoral battle, Indian political leaders kept dominating headlines throughout the year. At 2024’s curtain call, we look back at some of the key newsmakers of the year. Prime Minister Narendra Modi Donning a royal blue 'Modi jacket', as Narendra DamodardasModigreeted party workers, leaders and euphoric fans at theBJPHeadquarters on New Delhi's Deen Dayal Upadhyay Marg on a sultry June 4 evening, history had been scripted. Prime Minister Narendra Modi Having secured a third consecutive term in the Lok Sabha, Prime Minister Modi's leadership continued to dominate Indian politics in 2024, cementing his place as one of the most influential leaders in the country’s history. He also became the third longest-serving Prime Minister of India, surpassing Manmohan Singh. Another significant event marking his unchallenged leadership this year was his participation in the pran pratishtha ceremony of the Ram Mandir in Ayodhya, which not only held spiritual significance but also symbolised the BJP's consolidation of its ideological base rooted in Hindu nationalism. On the global stage, PM Modi worked relentlessly to strengthen India's diplomatic relationships, securing landmark agreements in trade, defense, and technology that elevated India’s position on the international stage. His deft management of domestic and foreign policies made him a central figure in both national and global narratives. Rahul Gandhi In 2024, Rahul Gandhi made a notable resurgence in India's political landscape. For the first time since joining politics, Rahul Gandhi secured a constitutional post this year by becoming the Leader of Opposition in Lok Sabha. Lok Sabha LoP and Rae Bareli MP Rahul Gandhi At the start of the year, Rahul embarked on his second pan-India foot march, called the Bharat Jodo Nyay Yatra, to galvanise support and build momentum for Congress ahead of the Lok Sabha elections. During the April-June general election, Congress managed to improve its tally to 99 seats, up from 52 in 2019. This was a significant jump for the grand old party and helped Rahul find his comeback tune. Personally, Rahul managed to reverse the setback of 2019 by notching victories in both Rae Bareli (UP) and Wayanad (Kerala). The dual victory helped Rahul silence the critics who questioned his ability to pull victories after his loss to BJP's Smriti Irani from the Congress bastion of Amethi. His leadership in 2024 was marked by a more focused and strategic opposition movement, withCongressunder his guidance striving to offer an alternative vision for governance, stressing social justice, economic reform, and democratic values. Subrahmanyam Jaishankar In 2024, External Affairs Minister Subrahmanyam Jaishankar played a key role in shaping India’s foreign policy amid complex global dynamics. He focused on strengthening relations with major global powers like the United States, Russia, China, and the European Union while promoting India’s influence on the global stage. Through India’s leadership in forums such as the UN and G20, Jaishankar pushed for more inclusive global governance, addressing challenges like the Ukraine war, Indo-Pacific tensions, and global economic instability. External Affairs Minister S Jaishankar Jaishankar stressed multilateralism and regional cooperation, particularly in South Asia. He skillfully managed India’s complex relationships with neighbouring countries, notably China and Pakistan. His focus on regional peace extended to addressing cross-border terrorism and security concerns with Pakistan. A major diplomatic achievement for Jaishankar in 2024 was his role in overseeing the India-China border standoff that began in 2020. Through strategic negotiations, he facilitated troop withdrawals and de-escalation along the Line of Actual Control (LAC). Jaishankar’s diplomatic efforts, combining military communication with confidence-building measures, helped stabilise India-China relations. Priyanka GandhiIn 2024, Wayanad MP and Congress General Secretary Priyanka Gandhi Vadra played a significant role in shaping the Congress' political narrative, both nationally and within its organisational structure. Her electoral debut from Wayanad, a seat previously represented by her brother Rahul Gandhi, was a key milestone. Priyanka won with 6.22 lakh votes, defeating her CPM rival Sathyan Mokeri by over four lakh votes, surpassing Rahul's margin in the 2024 elections. Her victory marked her entry into Parliament as the third member of the Gandhi family to do so. Congress General Secretary and Wayanad MP Priyanka Gandhi Vadra Priyanka’s political journey this year marks the beginning of a new chapter, with her leadership bringing fresh dynamics to the Congress. Beyond her parliamentary debut, she also focused on strengthening the party's presence across various states, especially in Uttar Pradesh, where Congress faced tough competition from the BJP and regional parties, in the run-up to the 18th Lok Sabha elections. She also worked on rejuvenating the party’s organisational structure, focusing on engaging youth and women voters to revitalize its image and enhance its grassroots base. Chandrababu Naidu In 2024, N Chandrababu Naidu, the leader of the Telugu Desam Party (TDP), made a significant political comeback, reclaiming his position as the Chief Minister of Andhra Pradesh. His victory reflects his strategic effort to regain the support of the TDP’s traditional voter base after the party's defeat in the 2019 Andhra Pradesh Assembly elections. Naidu had effortlessly worked on rebuilding the party's influence, focusing on a revitalised political narrative that appealed to both rural and urban voters. TDS Supremo and Andhra Pradesh CM N Chandrababu Naidu He also became an important part of the ruling NDA government, since the support of TDP MPs helped BJP form a third straight government at the Centre. Naidu's political resurgence was underscored by efforts to forge new alliances with both regional and national parties, aiming to challenge the dominance of the YSR Congress Party (YSRCP) led by Jagan Mohan Reddy. His campaign, ahead of the 18th Lok Sabha elections, stressed restoring governance, promoting economic growth, and reviving the state’s welfare schemes, which he claimed had been neglected under the Reddy administration. Naidu positioned himself as a leader capable of bringing about stability and development to the state. Devendra Fadnavis Devendra Fadnavis’ political journey to becoming Maharashtra's Chief Minister in 2024 has been marked by significant achievements and strategic leadership. Known for his ability to manage alliances, navigate political complexities, and handle opposition pressures, Fadnavis played a key role in consolidating BJP's influence in the state. He emerged as a bridge between national leadership and regional interests, countering the influence of parties like Shiv Sena and NCP. Maharashtra Chief Minister Devendra Fadnavis In 2024, Fadnavis focused on critical issues such as economic development, infrastructure, and agricultural reforms, solidifying his position as the face of the BJP in Maharashtra. His leadership and political resilience continued to drive the party’s dominance, with Fadnavis poised to shape the state's future as it headed toward key elections. His adaptability and unwavering focus on party objectives reinforced his role as one of Maharashtra's most influential political figures. Did You Know? |These are the key bills and legislation that made headlines in 2024 Omar Abdullah In 2024, Omar Abdullah, leader of the Jammu and Kashmir National Conference (NC), experienced a political revival after the challenges posed by the 2019 revocation of Article 370. His vocal opposition to the central government's decision continued as he led NC to a strong position, forming a strategic alliance with Congress, which proved pivotal in securing a majority in the assembly elections. This victory led to his return as the Chief Minister of Jammu and Kashmir, marking the end of direct governance by the central government. A key issue for Abdullah this year remained the restoration of Jammu and Kashmir's statehood and special status, which he views as crucial for the region’s identity and autonomy. Despite the Centre's stance on the abolition of Article 370, Abdullah remains firm in his opposition, actively campaigning for the special status. His leadership focused on reviving the region and addressing governance and development challenges disrupted by the 2019 changes. Jammu & Kashmir CM Omar Abdullah Abdullah’s political journey in 2024 was also marked by his balancing act with Congress. While the alliance was vital for electoral success, it faced internal friction, particularly concerning issues like Electronic Voting Machines, which tested Abdullah’s credibility on Jammu and Kashmir’s autonomy. Despite these challenges, Abdullah’s return to power signaled a resurgence of his political influence in the region. Mohan Bhagwat Mohan Bhagwat, leader of the Rashtriya Swayamsevak Sangh (RSS), remained a dominant figure in Indian politics this year, advocating for Hindu unity and promoting the RSS' ideological agenda. His speeches called for social harmony, national integration, and the strengthening of India's cultural identity rooted in Hinduism. Bhagwat's focus on caste divisions and religious minorities became a key aspect of his leadership, but his remarks, particularly on a "uniform civil code," were seen by some as attempts to impose a unified cultural identity. RSS Chief Mohan Bhagwat Bhagwat also faced criticism for sidelining the concerns of religious minorities, especially Muslims and Christians, with some accusing the RSS under his leadership of promoting an exclusionary agenda. His comments on Hindu-Muslim unity sparked protests and debates, with critics accusing him of deepening national divisions.Bhagwat’s outreach to the Indian diaspora and his advocacy for global Hindu unity further enhanced his status as a key figure in the Hindu nationalist movement. Atishi Atishi’s tenure as Delhi Chief Minister in 2024 marked a significant phase in her political career. As the second woman CM after Sheila Dikshit, she assumed office following Arvind Kejriwal’s resignation, pledging to uphold his governance model with a focus on education, healthcare, and infrastructure. Known for her expertise in education, Atishi introduced reforms to improve inclusivity, expanded model schools, and launched digital literacy programs for underprivileged communities. Delhi CM Atishi In addition, she prioritised eco-friendly transport and launched the "Green Delhi Mission" to curb pollution in the national capital. Her tenure has, however, faced criticism from the BJP over allegations of fund mismanagement, urban planning failures, and prioritising publicity over development. Ahead of the 2025 Delhi Assembly elections, balancing political and administrative challenges will be key to her legacy and AAP's future. Mamata Banerjee Mamata Banerjee, the Chief Minister of West Bengal and TMC supremo, remained a prominent figure in Indian politics in 2024. She faced sharp criticism, especially from the BJP and opposition parties, over allegations of corruption and governance issues. The BJP positioned itself as her key challenger for the 18th Lok Sabha elections, with controversies about law and order, including political violence and governance lapses. West Bengal CM Mamata Banerjee Her leadership faced further scrutiny in August following the brutal rape and murder of a doctor at RG Kar Medical College, sparking nationwide protests. Opposition parties accused her government of failing to ensure public safety, with medical professionals and citizens demanding better security. Banerjee, however, defended her administration, attributing the protests to political opportunism and promising stricter safety measures, at the same time. Check this Out |Key social movements in 2024 The RG Kar incident became a hiccup and a defining moment in her political journey, challenging her leadership and raising questions about her administration's ability to maintain law and order. How she responds to these issues will impact her government's reputation and the TMC's prospects in future elections. Smriti Irani In 2024, Smriti Irani remained a prominent and controversial figure in Indian politics, particularly due to her re-election bid in Amethi during the Lok Sabha elections. Having famously defeated Rahul Gandhi in 2019, her political trajectory in the constituency attracted significant attention. While her aggressive grassroots campaigning and the BJP's resources helped maintain her stronghold, regional issues and local dynamics in Amethi posed challenges to her re-election. BJP leader Smriti Irani Despite her efforts, Irani's re-election bid in Amethi ended in a defeat. The Congress, focusing on local issues and benefiting from Rahul Gandhi's strong presence, regained ground. Also Read |2024 in retrospect: Religious controversies that grabbed headlines this year In addition to her electoral challenges, Irani faced controversies related to her tenure as Minister for Women and Child Development, where her initiatives to advance women’s empowerment were criticised for poor implementation. Furthermore, her educational background, which had previously been questioned, resurfaced as a point of contention during the 2024 elections, with accusations of inconsistencies in her academic qualifications.

2024-12-29 11:34

2024-12-29

11:34

moneycontrol.com

https://www.moneycontrol.com/news/business/startup/from-a-net-importer-of-banking-tech-india-has-now-turned-into-a-net-exporter-m2p-cofounder-madhusudanan-12899490.html

'From a net importer of banking tech, India has now turned into a net exporter': M2P cofounder Madhusudanan

(From L to R) Nruthya Madappa, Partner at 3One4 Capital; Aishwarya Jaishankar, Cofounder, Hyperface ; Bhavya Dilipkumar of Moneycontrol (moderator); Sheetal Lalwani, Cofounder and COO, Juspay , Madhusudanan R, Cofounder of M2P.Related stories.

Once reliant on innovations from outside India for banking technology, India has emerged as a powerhouse of fintech innovation, exporting solutions that are shaping global markets. There is significant demand for India's fintech infrastructure players across Southeast Asia, the Middle East, and other regions, according to leading fintech infrastructure players like M2P, JusPay, and Hyperface. “Traditionally, we have been a net importer of banking technology, but over the last decade, we have probably turned into a net exporter of technology, and there is a lot of pride in doing this,” said Madhusudanan R, Co-founder of M2P, speaking at Moneycontrol's India Fintech Conclave, held on December 18 in Mumbai. Madhusudanan emphasized the enduring importance of fintech infrastructure, describing it as the "plumbing" that powers banking innovation. “In the last 5-7 years, fintechs have focused on building systems of intelligence that augment traditional banking systems. Our role is evolving toward creating an intelligent layer, leveraging technology to make banks more efficient and smarter.” India’s fintech landscape has emerged as a global exemplar, particularly with initiatives like UPI (Unified Payments Interface). “A lot of markets now look up to India for what has happened with UPI,” Madhusudanan added. “It has evolved and scaled with a framework around legitimate data sharing, marking a big secular shift in global perceptions of Indian fintech.” This transformation is not confined to domestic success. Infrastructure players are now taking their capabilities abroad. “In banking and financial sectors, we will be the first where product capabilities will go out and put India on the map,” he added. Expanding Horizons: Opportunities in Global Markets Sheetal Lalwani, Co-founder and COO of Juspay, spoke about how India’s fintech advancements resonate beyond borders. “Our product, HyperSwitch, caters to Western markets and operates like Linux for payments,” he said. While Juspay’s roots remain firmly tied to India’s innovation ecosystem, opportunities in Southeast Asia (SEA) and the Middle East and Africa (MEA) are expanding organically. Juspay’s contributions also include building BHIM, India’s flagship UPI app. Reflecting on BHIM’s potential to rival global players, Lalwani said, “I believe anything is possible, but it requires many stars to align.” As markets worldwide look to India for inspiration, the country’s fintech infrastructure players are proving that they are not just building for India but for the world—cementing India’s status as a net exporter of technology and a beacon of financial innovation. Aishwarya Jaishankar, Co-founder of Hyperface, also highlighted her firm’s readiness for global markets. “India’s best core banking systems are globally competitive,” she said. “This is definitely India’s time to conquer global fintech markets, and it’s on our roadmap too.” Investors Betting on the Long GameFrom an investor’s perspective, fintech infrastructure players are uniquely positioned to solve deep, systemic problems. “These are the players who build products from the foundational layer,” said Nruthya Madappa, Partner at 3One4 Capital. “They focus on the longer game, which is why we’re most excited about them.” One area she finds particularly promising is startups targeting the collections layer. “They are approaching it intelligently, layering technology with intelligence—a demand of today’s market.” For Madappa, the market’s expansion remains undeniable. “Consumer needs are growing exponentially, and there’s still a long way to go.” Building the Future of Fintech InfrastructureSpeaking about exciting solutions within fintech infrastructure, Jaishankar of Hyperface stressed the need for a fundamental rethinking of banking products. “We’re excited about the credit line stack, which can be used on a card, as a UPI line, or as a standalone product,” she said. With India’s credit card penetration at just 5%, credit lines on UPI could transform the landscape.

2024-12-29 11:04

2024-12-29

11:04

moneycontrol.com

https://www.moneycontrol.com/news/business/pawan-kalyan-reacts-sharply-to-repeated-questions-on-allu-arjun-s-legal-troubles-says-have-a-bigger-heart-12899500.html

Pawan Kalyan reacts sharply to repeated questions on Allu Arjun’s legal troubles, says, "Have a bigger heart..."

Pawan Kalyan.Related stories.

Pawan Kalyan, the Deputy Chief Minister of Andhra Pradesh and actor, visited the Rajiv Gandhi Institute of Medical Sciences (RIMS) in Kadapa, where he discussed a recent attack on a Mandal Parishad Development Officer. In a video circulated online, he appeared visibly frustrated when the media or fans raised topics related to cinema, including the legal issues involving his nephew Allu Arjun. Pawan was responding to questions from the press regarding the reported attack in Kadapa. However, when a journalist asked about Arjun, his tone shifted noticeably, he replied, "It’s not relevant. Here I am talking about people dying, and you’re asking about cinema. Have a bigger heart, please." As the press continued to press for questions about the "Pushpa" star due to his family ties with Allu Arjun, Pawan, who was preparing to leave, grew increasingly frustrated, and replied, "Let your debate go beyond cinema; I’m being candid. Let’s talk about the atrocities happening in our state. Cinema is such a small thing." To the public's knowledge, Pawan Kalyan has not met his nephew, Allu Arjun, since the issue occurred. Allu Arjun was arrested on December 13 following a stampede-like incident during the premiere of Pushpa 2: The Rule, which resulted in the death of a woman and left a young boy critically injured. Arjun was granted interim bail by the High Court and is currently out on bail. While Pawan Kalyan was discussing the attack with the press, a crowd of fans gathered at the scene. As they started chanting "OG" repeatedly, Pawan, visibly irritated, interrupted them and waved his finger in annoyance. He said, "What is wrong with you people? Do you not know what slogan to give where? Move aside" Also Read:Prithviraj Sukumaran joins Priyanka Chopra and Mahesh Babu in SS Rajamouli 's next film: Reports Pawan Kalyan had approved several film projects before launching his campaign for the Andhra Pradesh elections, but he has yet to complete them. Since becoming the Deputy CM of Andhra Pradesh, his schedule has become even more hectic, with his responsibilities taking him to rural areas across the state. Recently, he filmed several scenes for the historical action-adventure Hari Hara Veera Mallu, directed by Krish Jagarlamudi and Jyothi Krishna. He is also collaborating with Saaho-director Sujeeth on the upcoming project They Call Him OG. Additionally, he has agreed to star in Harish Shankar’s Ustaad Bhagat Singh, the Telugu remake of Theri.

2024-12-29 11:00

2024-12-29

11:00

moneycontrol.com

https://www.moneycontrol.com/news/business/efforts-on-for-2nd-day-to-rescue-10-yr-old-boy-from-borewell-in-mp-s-guna-12899487.html

Boy brought out of borewell in MP's Guna after 16-hour rescue operation, rushed to hospital

A team of the National Disaster Response Force (NDRF) was close to reaching the boy, he said, adding that oxygen was being pumped into the borewell..

A 10-year-old boy, who fell into a 140-feet borewell in Madhya Pradesh's Guna district, was brought out on Sunday after a 16-hour rescue operation and rushed to hospital, officials said. The boy, Sumit Meena, slipped into the open shaft of the borewell at around 5 pm on Saturday in Pipliya village under Raghogarh assembly segment, located 50 km from the Guna district headquarters.He was brought out at around 9.30 am on Sunday, the officials said.The boy was rushed to a hospital in Raghogarh on life support system, Guna Superintendent of Police Sanjeev Sinha told PTI.Asked whether the child was responsive, the official said doctors would be able to provide information about it.Rescuers worked through the night and dug a parallel pit to reach the boy via a passage between the pit and borewell, Raghogarh Congress MLA Jaivardhan Singh told PTI over phone from the spot.The boy was trapped at a depth of 39 feet in the borewell, which is around 140-feet deep, Guna Collector Satendra Singh said on Saturday.The borewell did not strike water, and hence no casing had been put on it, he said.The NDRF team reached there from Bhopal late Saturday evening and helped in the operation.The family members of the boy panicked on Saturday evening when they did not see him for a long time.A search was carried out and then they realised he had fallen into the borewell, a local person said.

2024-12-29 10:42

2024-12-29

10:42

moneycontrol.com

https://www.moneycontrol.com/news/india/up-teacher-watches-porn-in-classroom-thrashes-8-year-old-boy-who-caught-him-12899504.html

UP teacher watches porn in classroom, thrashes 8-year-old boy who caught him

A teacher was caught watching porn in a classroom in UP. (Representational image).

A private school teacher in Uttar Pradesh's Jhansi allegedly beat up an eight-year-old boy who found him watching porn film on his mobile phone in the classroom. After the boy found his teacher, Kuldeep Yadav, watching an obscene film, other students in the class allegedly laughed at Yadav, which angered and led him to beat the boy, according to a news report by NDTV. The teacher was taken into custody for questioning and a probe is underway, the police said. According to the student's father, as quoted by NDTV, "The students' reaction angered Yadav, who then abused and brutally thrashed my son. He grabbed my son by his hair and slammed his head against the wall. He also thrashed him with a cane. My son sustained injuries, including in his ear. I have registered a police complaint against the teacher." According to Superintendent Of Police (Rural) Gopinath Soni, a case has been filed and a detailed probe is underway. "We have taken the teacher into custody for questioning," Soni said.

2024-12-29 10:33

2024-12-29

10:33

moneycontrol.com

https://www.moneycontrol.com/technology/from-fake-cops-to-cloned-voices-of-loved-ones-2024-s-most-dangerous-scams-article-12899410.html

From fake cops to cloned voices of loved ones: 2024’s most 'dangerous' scams

Online scams.Related stories.

2024 has been a year of jaw-dropping internet scams that have left no one untouched—journalists, army officers, and even bank employees have fallen prey. These scams are so convincing they blur the line between truth and deception. From con artists posing as police officers to scammers cloning a child’s voice to trick a mother into handing over money, the creativity of fraudsters knows no bounds. Let’s dive into some of the year’s most shocking scams and unravel how they work—so you can outsmart the schemers and protect yourself in 2025 and beyond. The Digital Arrest scam One of the most chilling scams of the year is the digital arrest scam. Imagine getting a call, and the voice on the other end introduces themselves as a police officer. They claim you’re involved in a criminal investigation, maybe for money laundering or drug trafficking, and there’s an arrest warrant out for you. The caller says that unless you pay a hefty fine immediately—perhaps through a UPI transfer—you’ll be taken into custody. The fear and urgency they create make people fall for it, even though no legitimate law enforcement agency would demand money over the phone. The key to staying safe is simple: hang up immediately, verify the claims by contacting local police directly, and never share personal or financial information with unsolicited callers. The Parcel scam Another scam exploiting the online shopping boom is the parcel scam. It starts with a text or email about a delivery issue, often claiming that unpaid shipping fees are holding up your package. Clicking the link in the message directs you to a fake website, where scammers collect your credit card details or other sensitive information. With online shopping being such a routine activity, it’s easy to see how this scam works. To protect yourself, always verify tracking details directly on the official courier’s website and avoid clicking on links from unknown sources. Remember, legitimate delivery companies don’t ask for payment through unsolicited texts or emails. The AI Voice Cloning scam Technology has also given rise to scams that sound like something out of a sci-fi movie. AI voice cloning scams use artificial intelligence to replicate a loved one’s voice, often in distress. You might receive a call from someone who sounds like your child or partner, claiming they’re in trouble and urgently need money. The panic this creates can make you act without thinking. The best way to stay safe is to establish a family code word for emergencies and always take a moment to verify the situation. If you’re unsure, try contacting the person directly through another method. Social Media Marketplace scams Social media marketplaces, while convenient, have become hotbeds for fraud. Scammers post fake listings for high-demand items or pose as buyers. In one scenario, a scammer might claim they’ve sent payment and provide a fake receipt, convincing the seller to ship the item before realizing the money never arrived. To avoid falling victim, insist on secure payment methods or meet in person at a safe location to complete transactions. Money requests from family scam Finally, one of the most emotionally manipulative scams is the money request from friends or family. Fraudsters hack or mimic someone’s social media account and send messages asking for financial help in an emergency. The message might say something like, “I’m stuck and need Rs 10,000 for a medical bill. Can you help?” Before sending money, always confirm the request by calling the person directly. Securing your accounts with two-factor authentication can also reduce the risk of hacking.

2024-12-29 10:00

2024-12-29

10:00

moneycontrol.com

https://www.moneycontrol.com/news/business/economy/2024-big-ticket-investments-boosts-tn-govt-s-usd-1-tn-dream-12899480.html

2024: Big ticket investments boosts Tamil Nadu government's $1 trillion dream

Chief Minister M K Stalin’s delegations to foreign countries, including the US, helped firm up investments..Related stories.

Tamil Nadu made sincere efforts in 2024 to realise its USD 1 trillion economy dream by 2030 as the ruling DMK government secured some big ticket investments and rolled out sector-specific policies, among others. Measures regarding ease of doing business were also announced by the State government. The DMK government conducted its maiden Global Investors Meet (GIM) in 2024. The year 2024 also witnessed the changing of hands at one of the city’s iconic cement company, The India Cements Ltd. Billionaire Kumar Mangalam Birla promoted UltraTech Cement announced the acquisition of the decades-old, city-headquartered company, promoted by noted industrialist N Srinivasan. The GIM in January fetched the government Rs 6.64 lakh crore investment commitments by several companies that would generate 26 lakh new jobs in the state. Some of the big ticket investments include Rs 16,000 crore by Vietnam-based VinFast to establish a manufacturing facility in southern Tuticorin district that would generate about 20,000 new jobs, and the Rs 9,000 crore investment commitment by auto-maker Tata Motors to manufacture sports utility vehicles and electric vehicles at Ranipet. It would generate about 5,000 jobs in the region. Chief Minister M K Stalin’s delegations to foreign countries, including the US, helped firm up investments. After the Parliamentary elections in May, Stalin later embarked on his European trip where he met top industrial leaders hailing from Spain. The government during his visit to Spain signed MoUs with large industrial companies like ROCA and Gestamp. During his US visit, Stalin met representatives from reputed firms, 18 of them were from Fortune 500 companies. The government during the Chief Minister’s visit to the US signed 19 MoUs totalling Rs 7,618 crore of investment commitments in the State that would generate 12,000 jobs. To give an impetus to the electric vehicle industry, the government is also in discussions with the state electricity board to enable setting up charging facilities along arterial roads and highways as part of its efforts to support the EV industry. Nearly 40 per cent of EV four-wheelers produced in the country are from Tamil Nadu. The government, in its bid to focus on its 'distributed growth' perspective, announced that mini-TIDEL Parks (TIDEL Neo Parks) would be established in association with the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), with such facilities in Villupuram, Karaikudi, and Tirunelveli. The Mini TIDEL Parks can accommodate about 500 IT professionals, equipped with air-conditioning, high-speed internet, uninterrupted power supply, among other facilities. The Mini-TIDEL Parks concept has the potential of taking the benefits of IT sector growth to smaller towns and villages of the State. Responding to the investment proposals bagged by the Tamil Nadu government, noted political analyst, Sumanth Raman, commented that the government has to establish a dashboard in the public domain, so as to ensure one would be able to understand how much of the investments committed by the companies has actually come into the state. "It is the easiest thing to do (to set up a dashboard). But the government has not done it. Can you check online or even offline to get this data? For example, the Chief Minister had gone to Spain to invite companies to invest in the State. But we do not know from Spain what investment has come to the state," he told PTI. Raman recalled that when the DMK was in the opposition, it asked the then AIADMK government to release a ’white paper’ on the Global Investors Meet during their period. Meanwhile, with the Competition Commission of India clearing the Rs 7,000 crore India Cements acquisition deal, following which it became a subsidiary of UltraTech, Srinivasan and a host of leaders who were in the Board of India Cements stepped down in December.

2024-12-29 09:27

2024-12-29

09:27

moneycontrol.com

https://www.moneycontrol.com/news/india/the-satanic-verses-returns-to-india-a-look-back-at-why-rushdie-went-into-hiding-for-decades-and-how-the-book-made-a-silent-comeback-12899475.html

The Satanic Verses' Returns to India: A look back at why Rushdie went into hiding and the book’s 'silent' comeback

Salman Rushdie's controversial book 'The Satanic Verses' has quietly returned to India. (Image: X).

36 years after it was banned by the Rajiv Gandhi government, British-Indian novelist Salman Rushdie's controversial book "The Satanic Verses" has quietly returned to India. A "limited stock" of the book, which caused a furore against its author and content that was deemed blasphemous by Muslim organisations the world over, has been selling at Bahrisons Booksellers in the national capital for the past few days. News agency PTI quoted Bahrisons Booksellers' owner Rajni Malhotra saying that the response and sale of the book has been very good so far. "@SalmanRushdie's The Satanic Verses is now in stock at Bahrisons Booksellers! This groundbreaking & provocative novel has captivated readers for decades with its imaginative storytelling and bold themes. It has also been at the centre of intense global controversy since its release, sparking debates on free expression, faith, & art," the bookseller said in a post on X. @SalmanRushdie's The Satanic Verses is now in stock at Bahrisons Booksellers!This groundbreaking & provocative novel has captivated readers for decades with its imaginative storytelling and bold themes. It has also been at the center of intense global controversy since it'spic.twitter.com/e0mtQjoMCbBahrisons Bookseller (@Bahrisons_books)December 23, 2024 According to a report by The Indian Express, the novel will also be available at Book World on Fergusson College Road in Pune from December 30. “I have placed the orders for it and the book will be available from December 30. These will be imported versions. We will have an initial stock of 10-12 books,” Narendra Chandan, the owner of the bookstore, said. Why Rushdie went into hiding? Published in September 1988, ‘The Satanic Verses’ sparked global outrage, particularly within sections of the Muslim community, who accused the novel of being “blasphemous”. The novel sparked a major controversy due to its perceived blasphemous content, particularly regarding Islam and Prophet Muhammad. Some Muslims found the novel's portrayal of the Prophet and certain Islamic figures to be disrespectful and offensive. This led to protests, boycotts, and even violence in several countries, including India, where there is a significant Muslim population. The Indian government led by the then-Prime Minister Rajiv Gandhi faced immense pressure from religious groups, and issued a customs order banning the book’s import on October 5, 1988. In 1989, Iran’s Supreme Leader Ayatollah Khomeini issued a fatwa, calling on Muslims to kill Rushdie and his publishers. Rushdie spent nearly 10 years in hiding in the UK and the US. In July 1991, the novelist's Japanese translator Hitoshi Igarashi was killed in his office. On August 12, 2022, Lebanese-American Hadi Matar stabbed Rushdie on stage at a lecture, leaving him blind in one eye. How the book made a comeback? In November 2024, the Delhi High Court closed the proceedings on a petition challenging the Rajiv Gandhi government's ban on the import of the novel, saying since authorities have failed to produce the relevant notification, it has to be "presumed that it does not exist". The order came after government authorities failed to submit the notification dated October 5, 1988, which banned the import of the book. "In the light of the aforesaid circumstances, we have no other option except to presume that no such notification exists, and therefore, we cannot examine the validity thereof and dispose of the writ petition as infructuous," the court said. Renewed sale irks Muslim organisations The renewed sale of the controversial book has been strongly condemned by a section of Muslim organisations in India, who have appealed to the central government to reinstate the ban on it. Speaking to news agency PTI, Maulana Kaab Rashidi, legal advisor for the Uttar Pradesh unit of Jamiat Ulama-e-Hind (AM), expressed concern over the book's reappearance in India. "If freedom of expression hurts someone's sentiments, it is a legal offence. 'The Satanic Verses' is a blasphemous book. Selling such a controversial book under the pretext of freedom of expression cannot be accepted in any form. It goes against the spirit of the Constitution," he told PTI.

2024-12-29 09:25

2024-12-29

09:25

moneycontrol.com

https://www.moneycontrol.com/technology/wordle-today-here-are-some-hints-and-answer-for-december-29-2024-puzzle-article-12899479.html

Wordle today: Here are some hints and answer for December 29, 2024 puzzle

Wordle.

Wordle, the popular word puzzle game, challenges players to guess a five-letter word within six attempts. Created by Josh Wardle, the game offers simple mechanics with colored feedback tiles: green for the correct letter in the right spot, yellow for the correct letter in the wrong spot, and gray for letters not in the word. Its blend of vocabulary and strategy has made it a daily favorite for millions.If today’s Wordle has left you stumped, we’re here to help. Below are a few hints to guide you toward the solution. If you still need more help, we’ve also revealed the answer at the end. Hints for Wordle December 29, 2024• Hint 1: The answer is a noun.• Hint 2: It includes two vowels.• Hint 3: The word begins with the letter ‘M.’• Hint 4: There’s a repeating letter.• Hint 5: It refers to a type of dance. Wordle answer for December 29, 2024If you haven’t solved it yet, the answer isMAMBO. What is Wordle?Initially designed as a personal project by Josh Wardle, Wordle gained massive popularity and eventually became part of The New York Times’ collection of games. It has inspired variations like Squabble, Dordle, and Heardle, adding more challenges to the word-game genre. Where to play Wordle?Wordle is accessible through web browsers. Visit the New York Times Games website to play. The game tracks your progress, including streaks, wins, and losses, adding a layer of personal achievement. How to play WordlePlayers guess a five-letter word within six tries. Feedback comes through color-coded tiles indicating correct letters, placement, and unused letters. Words are never plurals, and some may include repeated letters.Ready to try your luck? Head over to the game page and put your vocabulary skills to the test!

2024-12-29 09:06

2024-12-29

09:06

moneycontrol.com

https://www.moneycontrol.com/news/world/trump-appears-to-side-with-musk-tech-allies-in-debate-over-foreign-workers-roiling-his-supporters-12899466.html

Trump appears to side with Musk, tech allies in debate over foreign workers roiling his supporters

Hard-right members of Trump’s movement have accused Musk and others in Trump’s new flank of tech-world supporters of pushing policies at odds with Trump’s “America First” vision..Related stories.

President-elect Donald Trump appears to be siding with Elon Musk and his other backers in the tech industry as a dispute over immigration visas has divided his supporters. Trump, in an interview with the New York Post on Saturday, praised the use of visas to bring skilled foreign workers to the U.S. The topic has become a flashpoint within his conservative base. “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them,” Trump said. In fact, Trump has in the past criticized the H-1B visas, calling them “very bad” and “unfair” for U.S. workers. During his first term as president, he unveiled a “Hire American” policy that directed changes to the program to try to ensure the visas were awarded to the highest-paid or most-skilled applicants. Despite his criticism of them and attempts to curb their use, he has also used the visas at his businesses in the past, something he acknowledged in his interview Saturday. “I have many H-1B visas on my properties. I’ve been a believer in H-1B. I have used it many times. It’s a great program,” Trump told the newspaper. He did not appear to address questions about whether he would pursue any changes to the number or use of the visas once he takes office Jan. 20. Trump’s hardline immigration policies, focused mostly on immigrants who are in the country illegally, were a cornerstone of his presidential campaign and a priority issue for his supporters. But in recent days, his coalition has split in a public debate largely taking place online about the tech industry’s hiring of foreign workers. Hard-right members of Trump’s movement have accused Musk and others in Trump’s new flank of tech-world supporters of pushing policies at odds with Trump’s “America First” vision. Software engineers and others in the tech industry have used H-1B visas for skilled foreign workers and say they are a critical tool for hard-to-fill positions. But critics have said they undercut U.S. citizens who could take those jobs. Some on the right have called for the program to be eliminated.

2024-12-29 08:48

2024-12-29

08:48

moneycontrol.com

https://www.moneycontrol.com/news/india/2024-in-retrospect-from-sambhal-to-ajmer-religious-controversies-that-grabbed-headlines-this-year-12899463.html

2024 in retrospect: From Sambhal to Ajmer, religious controversies that grabbed headlines this year

Sambhal.

After a considerable interregnum, the disputes over religious sites -- Sambhal, Gyanvapi and Ajmer -- grabbed headlines in 2024, with an Uttar Pradesh court passing an ex parte order for a survey of the Shahi Jama Masjid in Sambhal on November 19. In ways more than one, these incidents have the potential to deepen communal polarization, especially in states like Uttar Pradesh and Rajasthan. Given India's sensitive communal fabric and the potential of religious misadventures to disrupt social harmony, the issue was factored in by none other than RSS chief Mohan Bhagwat. The RSS chief, at an event in Pune, underlined in no uncertain terms that Ram temple in Ayodhya was a “matter of faith” for Hindus, and that it was “unacceptable” to rake up “such new issues on a daily basis” simply because of “extreme hatred, malice, enmity and suspicion”. These incidents also mark a pernicious trend of lower judiciary in states like Rajasthan and Uttar Pradesh entertaining civil suits contesting the origins and character of mosques across the country. Legal commentators have flagged that such suits constitute a violation of the Places of Worship (Special Provisions) Act, 1991 (1991 Act), which freezes the character of religious sites as of August 15, 1947, and bars claims seeking to alter their status. The controversy in Sambhal Built during Mughal emperor Babur’s brief four-year rule, the Shahi Jama Masjid in Uttar Pradesh’s Sambhal was in focus after a court-ordered survey of the structure led to rioting and loss of lives. On November 24, clashes erupted in Sambhal town between local residents and the police. Four people died as a result. The unrest was preceded by a district court’s order to survey the Shahi Jama Masjid after a petition alleged it was built on the site of a Hindu temple. Revisiting the law on Place of Worship Act The Places of Worship (Special Provisions) Act, 1991 prohibits the conversion of any place of worship and provides for the maintenance of the religious character of such places as they existed on August 15, 1947. “No person shall convert any place of worship of any religious denomination or any section thereof into a place of worship of a different section of the same religious denomination or of a different religious denomination or any section thereof,” it says. The Act, however, has excluded the decades-old Ram Janmabhumi–Babri Masjid dispute, which was resolved through an order of the Supreme Court in 2019. However, the new claims and lawsuits, right from Gyanvapi to the Ajmer dargah, have largely rendered the law, passed with the aim of tackling the rising religious strife, toothless. A petition challenging the validity of the Act is currently pending in the Supreme Court. Shiva Temple under Ajmer Sharif Dargah? A similar lawsuit has sparked controversy by claiming that the Ajmer Shariff was originally a Shiva temple. A court notice has ordered a survey of the site, raising concerns about communal tension. Political figures and community representatives express worry about the implications. The petition, filed in September in a local Ajmer court, seeks directions to begin worship at the Ajmer Shrine as a Shiva temple.The court issued notices on November 27 to the dargah committee, the Ministry of Minority Affairs, and the Archaeological Survey of India, seeking their response. The lower judiciary's decision comes amid growing fears of escalating communal tensions, especially following recent violence in Sambhal, Uttar Pradesh. What's the latest on Gyanvapi case? The Supreme Court in November sought response from the Gyanvapi mosque management committee on a plea made by the Hindu side for conducting an ASI survey of the area where 'Shivling' was found. The SC response comes after Varanasi court's call for a "scientific investigation" by the ASI, involving ground-penetrating radar surveys and excavation, faced a temporary pause from the apex court. The ASI initiated the survey in August 2023, with several extensions granted for the final report. The legal tussle dates back to a 1991 petition filed in Varanasi, seeking the restoration of Gyanvapiland to the Kashi Vishwanath temple. The claim was that the mosque was constructed under the orders of Aurangzeb, who allegedly tore down a part of the temple in the 16th century. The Gyanvapi Masjid case continues to unfold as a complicated legal battle with deep historical and religious implications. While the recent decision by the Varanasi court to disclose the ASI report was significant, the Supreme Court's 2023 order refusing to stay a scientific survey at the Gyanvapi Mosque complex, appears to have provided a fillip to various groups to stake claim over several other disputed places of worship in the country. The survey was allowed by a bench headed by former Chief Justice of India D Y Chandrachud on August 4, 2023. In its order, the court said that it had dealt with the provisions of the Places of Worship Act in its 2019 Ayodhya verdict and Section 3 did not expressly bar ascertaining of the religious character of the place of worship.

2024-12-29 08:41

2024-12-29

08:41

moneycontrol.com

https://www.moneycontrol.com/news/business/markets/daily-voice-tamohara-cio-sees-opportunity-in-discretionary-spending-amid-tepid-market-outlook-12899432.html

Daily Voice: Tamohara CIO sees opportunity in discretionary spending amid tepid market outlook

Sheetal Malpani is the Chief Investment Officer and Head of Equity at Tamohara.Related stories.

Regarding the entire consumption segment, "We are not aggressive in deploying money as yet, as interaction with listed companies doesn't suggest a significant improvement," Sheetal Malpani, Chief Investment Officer and Head of Equity at Tamohara said in an interview with Moneycontrol. However, according to him, discretionary consumption seems to be a reasonable place to allocate incremental capital (real estate, luxury cars, travel or entertainment). On the market, he believes given the outlook on earnings, the Nifty will probably spend more time between 23,000 to 26,000 levels. Also, "the supply of new paper has increased which will keep market valuations in check till profit growth picks up," said Malpani with more than 14 years of experience in the Indian capital markets. Do you want to wait for more months before jumping into the consumption sector? It depends upon which segment of consumption we are looking at. Indian consumer consumption basket has changed a lot in the last 5 years especially post covid. With democratization of technology and distribution evolving rapidly, newer brands and categories are taking growth away from the traditional ones. Discretionary consumption is a segment that seems to be a reasonable place for us to allocate incremental capital, be it real estate, luxury cars, travel or entertainment, even as the lower end of consumption pyramid struggles. Overall, we are not aggressive in deploying money in consumption as yet, as our interaction with listed companies doesn't suggest a significant improvement. Do you expect a strong pick-up in government capex from January onwards, with increasing tendering activities in defence, railways, and highways? January-March quarter is anyways the business end of the year when the government pushes for project completions. Given the capex spend is below the trend line YTD, we expect capex to pick up. Recent announcements of some projects and tenders are further corroborating the same. The focus will be more on how much the government sets aside in the next budget (on February 1st) as it will set the direction for the next few years of growth trajectory for the above sectors. If yes, are you taking exposure to these sectors? We have some exposure to these sectors and are sticking to them only. Haven’t added any new names or any weight. We would watch out for the newsflow over the next 2 months as valuations are still a bit optimistic, factoring in a growth of more than 18-20% for the next 3-4 years to justify buying at current valuations. Our previous exposure has been to short-cycle capital goods companies that service these sectors, and that remains our current focus. Do you expect the equity market to remain rangebound until theUnion Budget? Will the budget provide direction to the market for 2025? It is anyone's guess how the market will behave in the short term. Given the outlook on earnings, it is probable that we spend more time between 23,000 to 26,000 Nifty levels. Also, the supply of new paper has increased which will keep market valuations in check till profit growth picks up. Are you betting on an earnings recovery from Q4 FY25 onwards? Earnings recovery from Q4 FY25 levels should come by. However, valuations are demanding a shaper recovery which looks tough. Many sectors are operating at above-average profitability while revenue growth is in mid-single digits. So we need conclusive evidence of a turnaround in revenue growth for many sectors for sustained earnings growth for broader markets as margin expansion which started post-FY23 depressed numbers owing to the Russia-Ukraine war, has completely played out. Earnings in FY24 were capitulated by margin expansion despite tepid single-digit sales growth. Do you foresee any challenges for the RBI’s FY25 growth forecast? FY25 growth has been lowered post Q2GDP print. The falling rupee makes the RBI’s job even harder to cut rates and push growth. We should ignore near-term noise on GDP growth rates and see how fast we can revert to our trend growth of 6.5%. The slowdown in GDP growth and thus corporate profit growth has resulted in equity market correction. Prolong slowdown will result in more time correction rather than price correction.

2024-12-29 07:39

2024-12-29

07:39

moneycontrol.com

https://www.moneycontrol.com/news/world/plane-veers-off-runway-catches-fire-at-south-korean-airport-with-reports-of-28-dead-12899452.html

Plane veers off runway, catches fire at South Korean airport with reports of 28 dead

Firefighters carry out extinguishing operations on an aircraft which drove off runaway at Muan International Airport in Muan, South Jeolla Province, South Korea, December 29, 2024. (REUTERS).

A plane with malfunctioning landing gear veered off the runway, hit a fence and caught fire Sunday at an airport in southern South Korea, killing at least 28 people, according to the emergency office and local media. The emergency office said the fire was almost put out and rescue officials were trying to remove passengers from the Jeju Air passenger plane at the airport in the southern city of Muan. It said the plane with about 180 people was returning from Bangkok. South Korean media outlets including Yonhap news agency reported that at least 28 people had died in the fire. The Muan Fire Station said it couldn't immediately confirm the casualty reports. It said emergency workers pulled out at least two passengers. Yonhap reported the plane veered off the runway and collided with a fence. Emergency officials said they were examining the exact cause of the fire. Local TV stations aired footage showing thick pillows of black smoke billowing from the plane engulfed with flames.The incident came as South Korea is embroiled into a huge political crisis triggered by President Yoon Suk Yeol's stunning imposition of martial law and ensuing impeachment. Last Friday, South Korean lawmakers impeached acting President Han Duck-soo and suspended his duties, making Deputy Prime Minister Choi Sang-mok to take over. Choi ordered officials to employ all available resources to rescue the passengers and crew, according to Yonhap news agency.

2024-12-29 07:33

2024-12-29

07:33

moneycontrol.com

https://www.moneycontrol.com/news/business/real-estate/dharavi-redevelopment-project-private-ltd-rebranded-as-navbharat-mega-developers-private-ltd-12899425.html

Dharavi Redevelopment Project Private Ltd rebranded as Navbharat Mega Developers Private Ltd

The name Navbharat, which means “New India,” reflects the massive potential this project holds in shaping a better tomorrow..Related stories.

Dharavi Redevelopment Project Private Ltd (DRPPL), the company undertaking the ambitious plan of revamping Dharavi, is rebranding itself in response to the holistic value proposition and renewal of its corporate vision. "At the heart of the rebranding is a change in the name of the company to Navbharat Mega Developers Private Ltd (NMDPL) — matching with the company’s promise of building a modern, inclusive and vibrant community," the company said in statement. "The name Navbharat Mega Developers is rooted in the company’s commitment to growth, change and hope, and the rebranding exercise that has received the affirmation of its Board of Directors and the Ministry of Corporate Affairs," it further said. This change reflects the company’s fresh outlook and obligation to creating a broader and brighter future for everyone associated with or beneficiary of the gigantic and historic task of rehabilitating slums across the nation. "The name Navbharat, which means “New India,” reflects the massive potential this project holds in shaping a better tomorrow," it added. "Mega highlights the sheer scale and impact of the work being undertaken, while Developers points to the role the company intends to play in building a thriving community," the company said on the decision to rebrand itself. NMDPL is a special purpose vehicle between the Government of Maharashtra — through the Dharavi Redevelopment Project (DRP) / Slum Rehabilitation Authority (SRA) — and the Adani Group. The change in name does not alter the government’s pivotal role or the core purpose of the project. NMDPL remains steadfast in its commitment to executing the Dharavi redevelopment as envisioned, ensuring transparency, inclusivity and the welfare of all stakeholders. The initiative is not just to change the name DRPPL but also to avoid being mistaken for the government authority in the same space, which is DRP (Dharavi Redevelopment Authority), the special planning authority of the Government of Maharashtra dealing with Dharavi’s redevelopment. The role of the Maharashtra Government remains unchanged and DRP continues to be the supervising authority for the ambitious project.

2024-12-28 22:58

2024-12-28

22:58

moneycontrol.com

https://www.moneycontrol.com/news/business/companies/how-ai-will-drive-business-growth-in-2025-here-s-what-industry-leaders-say-12899416.html

How AI will drive business growth in 2025? Here's what industry leaders say

As technology becomes increasingly human-like and pervasive, organisations are now striving to unlock business value through innovative methods to engage customers and employees.Related stories.

As the world gears up to enter 2025, Artificial intelligence (AI) has moved from being a trend to a widespread reality, gaining traction across industries due to its potential to enhance efficiency, generate revenue and create entirely new roles. Artificial intelligence (AI) now is not just a merely a buzzword; AI has now become an integral part of business strategy across various sectors. But its full impact on jobs is little known and so is the issue of intellectual property, data ownership and its privacy implications, and liability – who is liable if an accident or mishap occurs due to the use of AI. Organisations are now striving to unlock business value through innovative methods to engage customers and employees, enhance operational efficiencies, and generate new revenue streams, Wipro CIO Anup Purohit said. ”We are working towards a future where AI is integrated seamlessly into everyday operations beyond the honeymoon period and into a mature phase,” he said in an interaction with PTI. ”This growth isn’t confined to technology firms; conventional sectors like banking, finance, and healthcare are also progressively integrating AI to improve operational efficiency and boost customer engagement. ”AI is no longer the flavour of the season but is now the reality at scale. It is gaining momentum across all business domains and sectors. Even those that were traditionally considered laggards like BFSI or healthcare are looking forward to embracing AI. ”CIOs today are shifting their approach away from POC to executing initiatives at scale … to turn the GenAI ’trend’ into business value by solving real business problems and cutting out the noise while managing costs,” Purohit said. However, Indian enterprises will need to scale AI by expanding the gamut beyond basic virtual assistants and predictive analytics to a combination of AI-tech-based scalable use cases, according to nasscom. ”With the global AI market valued at approximately USD 235 billion and projected to grow to over USD 631 billion by 2028, AI is redefining industries and economies. The possibilities seem endless, from predictive analytics in agriculture to personalised healthcare solutions. In addition, emerging technologies such as quantum computing and federated learning are poised to redefine the AI landscape and open new frontiers,” Tech Mahindra COO Atul Soneja said.Arun Parameswaran, MD, Sales, Salesforce India, believes 2025 will mark the true dawn of agentic AI – a new era where AI systems move beyond being reactive assistants to becoming proactive, autonomous agents capable of transforming customer engagement, business efficiency, and decision-making. ”We will witness AI agents working collaboratively, transforming productivity and redefining problem-solving at an unprecedented scale. The future will not just be about using AI; it will be about creating and customizing agents that collaborate to understand and execute strategic tasks and decisions, both in personal and business contexts,” he said. AI agents will significantly enhance business processes by improving efficiency and customer service, Purohit said.”The integration of AI with cloud services will allow companies to quickly scale their AI models, manage extensive datasets in real-time, and gain insights for smarter decision-making. ”The combination of AI and cloud services will help businesses innovate more swiftly, respond to market changes with greater flexibility, and maintain a long-term competitive edge,” Purohit said. ”With the rapid deployment of AI-led solutions, the industry will soon witness a demand-supply gap of skilled talent. Future professionals will need to build deeper business and communications skills, such as listening, problem-solving, as well as specific domain expertise to leverage AI to solve complex business problems,” Purohit said. Future professionals will need a robust blend of technical expertise and soft skills, including adaptability, emotional intelligence, and strong communication abilities. As businesses increasingly rely on AI-driven solutions, there will be a critical need for individuals who can bridge the gap between technology and business strategy. ”AI/Gen AI will impact knowledge work (white-collar work) in ways that no prior technology has, and this is likely to cause significant and continuous shifts in knowledge work (the what) and ways of working (the how) for all businesses. All businesses will need to define work next-practices continually to remain competitive,” TCS CTO Harrick Vin said in an interaction with PTI. Future roles will require greater levels of critical thinking, design, strategic goal setting, and creative problem-solving skills, he said. ”This would mean different things in the context of various types of work. For example, for the domain of software DevOps, teams will start to de-prioritise basic scripting skills for infrastructure provisioning and configuration, low-level monitoring configurations and metrics tracking, and test automation, among others. Instead, they will focus more on product requirements analysis, definition of acceptance criteria, software and architectural design,” Vin said. For professionals entering the tech industry in 2025, he listed three primary and most needed skills’ — Learning to learn; Critical thinking/analysis; and Techno-functional skills for applying computational thinking and methods to solve complex domain problems. With PTI Inputs

2024-12-28 22:38

2024-12-28

22:38

moneycontrol.com

https://www.moneycontrol.com/technology/gta-vi-launch-date-trailer-gameplay-price-supported-platforms-and-everything-else-we-know-so-far-article-12899346.html

GTA VI launch: Date, trailer, gameplay, price, supported platforms, and everything else we know so far

GTA 6 is coming out next year.Related stories.

Rockstar Games dropped the first trailer of the Grand Theft Auto VI (GTA VI) last year and the highly-anticipated next entry in the iconic game series is expected to release in 2025. Here’s everything currently known about its launch, features, and pricing. Release dateRockstar Games has not confirmed an exact release date, but GTA VI is widely expected to launch in the second half of 2025, likely in Q3 or Q4. PlatformsInitially, GTA VI will be available on PlayStation 5 and Xbox Series X/S, focusing on current-generation consoles. No versions for older platforms like PS4 or Xbox One are planned. A PC release is anticipated in 2026. Map and settingGTA VI will take players to Leonida, a fictional region inspired by Florida’s Everglades and Keys. Vice City, a familiar location for fans, will also be included as part of the larger map. The game promises diverse environments, from bustling city streets and beaches to untamed backwaters. Gameplay and protagonistsThe game introduces dual protagonists, including Lucia, the first female lead in the series, paired with an unnamed male character. Their narrative draws inspiration from a Bonnie and Clyde-style partnership. Leaked gameplay footage suggests features such as enhanced stealth mechanics, improved police AI, and the return of the five-star “Wanted” system. These updates aim to expand on the open-world experience the franchise is known for. TrailersThe first trailer for GTA VI was released in December 2023, showcasing the map, story elements, and gameplay features. A second trailer is rumoured to be released on December 27, 2024, potentially offering a deeper look at the game. Price in IndiaGTA VI is expected to be priced at Rs 5,999 for standard editions. Special editions may cost up to Rs 7,299. Pre-launch offers could provide minor discounts, though significant price reductions are unlikely at launch.

2024-12-28 22:05

2024-12-28

22:05

moneycontrol.com

https://www.moneycontrol.com/news/world/what-happens-next-to-workers-in-slavery-like-conditions-at-chinese-ev-maker-byd-s-site-in-brazil-12899413.html

What happens next to workers in 'slavery-like conditions' at Chinese EV-maker BYD's site in Brazil?

A drone view shows BYD's new electric vehicle (EV) factory's construction site in Camacari, Brazil (REUTERS).Related stories.

The 163 Chinese workers found by Brazil's labor ministry in what it described as "slavery-like conditions" at a factory construction site owned by Chinese electric vehicle producer BYD (002594.SZ), opens new tab have been removed and taken to hotels, while officials negotiate with BYD and the Jinjiang Group about further measures to protect them, authorities said. The growing controversy in the automaker's biggest overseas market has put a spotlight on immigrant worker conditions in the northeastern Brazilian state of Bahia. A deal with labor prosecutors involving BYD and the Jinjiang Group could be inked as soon as Jan. 7, when they are scheduled to meet. Earlier this week, the labor prosecutor's office described the workers, who had been hired by Chinese construction firm Jinjiang Group, as human trafficking victims. The firm had withheld the passports of 107 of the workers, investigators said. Investigations into slavery can carry powerful consequences for employers in Brazil, including a restriction on their access to bank loans.Jinjiang has denied any wrongdoing, while BYD said it had cut ties with Jinjiang. Both companies are collaborating with authorities on the investigation. Jinjiang said, in a social media post reposted by a BYD spokesperson, that describing the workers' conditions as "slavery-like" was inaccurate, while a BYD executive said media and other groups were "deliberately smearing Chinese brands and the country and undermining the relationship between China and Brazil." If the two companies are charged by labor inspectors with submitting workers to slavery-like conditions, they could be added to Brazil's so-called "dirty list" - a public listing of employers found liable for such charges. While the names of companies are only added to the list after all possibility of appeal is exhausted, which can take years, once a company is included it would stay there for two years. Beyond the substantial reputation risk the "dirty list" carries, companies in it are also barred from obtaining certain types of loans from Brazilian banks. Companies can avoid being included on the "dirty list" by signing a deal with the government committing to change their practices and compensate workers whose rights were abused. Companies and executives are also subject to legal action. Prosecutors who monitor labor affairs can sue companies that are found to have abused workers' rights, unless they agree to pay damages to the Brazilian government and to victims. Separately, federal prosecutors may also pursue criminal charges against executives. Charges of human trafficking and keeping workers in slavery-like conditions carry sentences of up to eight years in prison each. Federal prosecutors have already asked labor authorities to share the evidence they have gathered against BYD and the Jinjiang Group, according to a Thursday statement from the Labor Prosecutor's Office. Labor inspectors are now negotiating with the companies for compensation for the workers whose rights they believe were abused. That could include payment for missed wages and severance. The workers will also receive unemployment benefits. "The efforts of the government bodies at this time are focused on the victims and guaranteeing the victims' rights," said Mauricio Krepsky, a former head of Brazil's Division of Inspection for the Eradication of Slave Labor (DETRAE), a government body staffed by labor inspectors. Victims of human trafficking can choose to stay in Brazil or go back to their home countries, said Ludmila Paiva, co-founder of I-MiGRa, a non-profit that develops projects and research on human trafficking. During a meeting on Thursday, BYD has already agreed to purchase tickets and cover up to $120 in travel expenses for the return trip to China of seven employees scheduled to return on Jan. 1, according to a statement from Brazil's labor prosecutor's office. Negotiations between labor authorities and companies that are suspected of submitting workers to degrading conditions can take months to conclude, depending on the complexity of the case, the number of victims involved and whether the firms cooperate with authorities or not, experts told Reuters. If the firms are charged, it could still take years for their names to be added to the list, as companies can appeal internally to the government or file lawsuits to keep their names out of the registry.

2024-12-28 21:29

2024-12-28

21:29

moneycontrol.com

https://www.moneycontrol.com/news/india/delhi-police-issues-traffic-advisory-for-new-year-s-eve-celebrations-12899412.html

Delhi Police issues traffic advisory for New Year's eve celebrations

Visitors are advised to use public transport, as parking space at India Gate will be limited..Related stories.

Delhi Police has issued a traffic advisory regarding the arrangements and restrictions that will be in place for New Year’s Eve celebrations across the national capital, especially in Connaught Place, according to an official statement. A senior officer indicated that traffic personnel will be deployed in sufficient numbers throughout various areas of the city. The main focus will be on markets, near malls, and locations where people gather for celebrations, such as Connaught Place and Hauz Khas. Special traffic arrangements have been made for the vicinity of Connaught Place, as a large crowd is expected to visit the area for the New Year’s Eve festivities, another officer noted. Restrictions will be imposed from 8 PM onwards on Tuesday in the Connaught Place area and will remain in effect until the end of the New Year celebrations. This will apply to all private and public transport vehicles, as stated by Deputy Commissioner of Police (Traffic) Dhal Singh. The DCP emphasized that strict action will be taken against offenses such as drunken driving, overspeeding, stunt biking, reckless driving, zig-zag driving, and other dangerous behaviors. Vehicles will not be allowed to proceed towards Connaught Place beyond the following points: the roundabout at Mandi House, the roundabout at Bengali Market, the north foot of Ranjit Singh Flyover, the Minto Road-Deen Dayal Upadhyaya Marg crossing, the RK Ashram Marg-Chitragupta Marg crossing, the roundabout at Gole Market, the roundabout at GPO, and Kasturba Gandhi Road. Traffic will not be permitted in the inner, middle, or outer circles of Connaught Place, except for vehicles carrying valid passes, Singh added. Motorists can park their vehicles at designated areas including: Gole Dak Khana, Patel Chowk on Rakab Ganj Road (behind AIR), Mandi House on Copernicus Marg up to Baroda House, Minto Road on DD Upadhyaya Marg, Press Road area, Panchkuian Road on RK Ashram Marg, KG Marg-Ferozshah Road crossing on Copernicus Lane, and Windsor Place. Limited parking space will be available near Connaught Place on a first-come, first-served basis. Unauthorized parked vehicles will be towed away and subject to prosecution. Comprehensive arrangements have also been made at and around India Gate for the regulation of both pedestrian and vehicular traffic. In case of heavy pedestrian movement, vehicles may be restricted from accessing the C-Hexagon area at India Gate. Traffic may be diverted from Q-Point, the roundabout at Sunheri Masjid, Rajpath, Rafi Marg, the roundabout at Windsor Place, the roundabout at Rajindra Prasad Road-Janpath, KG Marg-Ferozshah Road, the roundabout at Mandi House, and Mathura Road-Purana Qila Road. Visitors are advised to use public transport, as parking space at India Gate will be limited. Due to the expected large gathering at Delhi Zoo, which may cause congestion on Mathura Road, motorists are advised to avoid Bhairon Road and Mathura Road between Hazrat Nizamuddin and Pragati Maidan.

2024-12-28 21:13

2024-12-28

21:13

moneycontrol.com

https://www.moneycontrol.com/news/india/bjp-accuses-congress-of-indulging-in-politics-over-manmohan-singh-s-funeral-12899408.html

BJP accuses Congress of 'indulging in politics' over Manmohan Singh's funeral

BJP leader Sambit Patra.

The BJP on Saturday accused the Congress and its leader Rahul Gandhi of ”indulging in politics” over the funeral of former prime minister Manmohan Singh and alleged that the party has ”insulted” its own leaders, including ex-PM PV Narasimha Rao, in the past. Addressing a press conference here, BJP national spokesperson and MP Sambit Patra also attacked the Leader of Opposition in Lok Sabha for stating that the Narendra Modi government disrespected Singh by conducting his funeral at the Nigam Bodh Ghat, whereas for other former prime ministers the last rites were performed at sites where memorials could be built later.Patra also alleged that the grand old party had ”insulted” its leaders — Rao, ex-president Pranab Mukherjee, first president Rajendra Prasad and former deputy PM Vallabhbhai Patel — in the past. ”Since Manmohan Singh’s death, the Centre has been preparing to construct a memorial for him. A cabinet meeting was called and a condolence message was issued. It was also decided to pay proper respects to the former PM befitting his stature.”The cabinet has informed Dr Singh’s family and the Congress that a memorial will be built so that everyone can remember his positive contribution. However, time is needed for land acquisition, forming a trust and other formalities. At the same time, cremation should be done as it cannot wait,” Patra said.The BJP leader alleged that Rahul Gandhi had himself disrespected Singh by publicly tearing down a Cabinet note.Singh had considered resigning from the post as Sonia Gandhi was ”running a parallel government”, he claimed.He alleged that the Congress has a history of insulting prime ministers who were not from the Nehru-Gandhi family.”Former prime minister Narasimha Rao’s body was not allowed entry into the Congress headquarters in Delhi on instruction of Sonia Gandhi.The Congress did not allow Rao’s last rites in the national capital, so it was performed in Hyderabad. Some media outlets also reported that some stray dogs were moving around the body of the late prime minister. Such was the audacity of the Congress,” Patra alleged.The BJP leader alleged that the Congress did so to protect the Nehru-Gandhi family’s legacy.Rao was the first non-Gandhi Congress PM who completed a full five-year term but still the party did not construct a memorial for him despite being in power, he said.”When the BJP came to power, it built a memorial for Rao and also conferred Bharat Ratna on him. The Gandhi family gave Bharat Ratna only to its members,” Patra said.Patra also mentioned the Congress’s alleged injustice to former president Pranab Mukherjee.”Mukherjee’s daughter Sarmistha has alleged that the Congress had done injustice to her father by not condoling his death. The party said it does not condole the death of any former CWC president. However, that is not the reality… it was done to diminish his legacy,” Patra alleged. Patra alleged that when Vallabhbhai Patel died on December 15, 1950, the then-prime minister Jawaharlal Nehru had written a letter to all ministers and senior officers asking them not to attend Patel’s funeral. Nehru also neglected first president Rajendra Prasad on his death on Feb 28, 1963, he said.When Atal Bihari Vajpayee died, Congress president Mallikarjun Kharge’s son Priyank Kharge remarked that the former prime minister was a heavy drinker, Patra said.”Now Rahul Gandhi, full of his immaturity, has yet again taken this to a new low by making the tweet. This shows the character of the Congress and the Gandhi family,” he alleged.Gandhi, in a post on X, had said, ”Dr Manmohan Singh ji has been insulted by the present government by performing his last rites today at Nigam Bodh Ghat. He was the prime minister of India for a decade, and during his tenure, the country became an economic superpower and his policies are still the support of the poor and backward classes of the country.” ”To date, respecting the dignity of all former prime ministers, their last rites were performed at authorised memorial sites so that every person could have the last darshan and pay homage without any inconvenience. Dr Singh deserves our highest respect and a memorial. The government should have shown respect to this great son of the country,” he added.

2024-12-28 21:03

2024-12-28

21:03

moneycontrol.com

https://www.moneycontrol.com/news/india/delhi-l-g-orders-probe-into-aap-s-schemes-arvind-kejriwal-dismisses-allegations-as-fake-12899409.html

Delhi L-G orders probe into AAP's schemes, Arvind Kejriwal dismisses allegations as 'fake'

AAP chief Arvind Kejriwal dismissed the allegations as "fake" and questioned, "What will they investigate?".Related stories.

Delhi Lieutenant Governor VK Saxena today ordered investigations into allegations concerning the Aam Aadmi Party's (AAP) schemes ahead of next year's assembly elections. The Lt Governor's office issued separate directives to the Delhi Chief Secretary and the Commissioner of Police based on the complaints raised by Congress leader Sandeep Dikshit. AAP chief Arvind Kejriwal dismissed the allegations as "fake" and questioned, "What will they investigate?" The allegations raised by Dikshit, include claims of fraudulent collection of personal data under the guise of AAP's Mahila Samman Yojana, reports of Punjab intelligence officers being present near the residences of Congress candidates, and allegations of cash being transferred from Punjab to Delhi to influence the elections. Dikshit's complaint also highlighted concerns about the Mahila Samman Yojana, an AAP initiative that promises eligible women a monthly payment of Rs 2,100. The LG has instructed the Chief Secretary to conduct an inquiry through the Divisional Commissioner regarding the alleged collection of personal data by private individuals posing as beneficiaries' enrollers. Additionally, the Delhi Police has been directed to take legal action against those violating citizens' privacy by organizing unauthorized registration camps. "We repeatedly asked what the BJP planned to do by contesting elections. What is their plan? Today, we learned that if they win, they will stop the Mahila Samman Yojana, the Sanjeevani Yojana, free electricity, free education, and free treatment," the former Delhi Chief Minister stated. Earlier, the Delhi government's Women and Child Development and Health departments issued public notices asserting that the Mahila Samman Yojana and the Sanjeevani Yojana lacked government approval and were "non-existent." These notices warned citizens against sharing personal information with unauthorized individuals and labelled the registrations as fraudulent. "I had promised that after winning the election, we would provide Rs 2,100 to women and free treatment to senior citizens above 60 years of age. Both schemes are immensely beneficial for the public, and already Lakhs of people have registered for them. This made the BJP nervous; many BJP leaders told me to forget about winning, as their deposit would be forfeited in many places," Kejriwal mentioned. "First, they sent their goons; next, they called the police and uprooted the registration camp. Today, they have ordered a false investigation. What will they investigate? We already declared that if we win, we will implement these schemes." Dikshit's complaint to the Lt Governor claimed that cash was being transported from Punjab to Delhi, allegedly to fund election-related activities. The LG's office has directed the Delhi Police Commissioner to monitor vehicles entering the city from neighbouring states. Police forces in Punjab, Haryana, and Rajasthan have also been alerted to prevent any potential illegal activities. In another serious allegation, Dikshit asserted that Punjab intelligence officers were stationed near the residences of Congress candidates in Delhi. The LG's office has instructed the Delhi Police Commissioner to investigate this claim and submit a detailed report within three days. The BJP responded by accusing Kejriwal of settling illegal immigrants in the national capital for electoral gain. "Arvind Kejriwal and his party are continuously settling illegal voters in Delhi. Today, we presented six examples. Every assembly election, Arvind Kejriwal increases the number of illegal voters in Delhi. In 2015, 14 lakh votes were added; in 2019, 9 lakh votes were added. The same conspiracy is being attempted again in Delhi, but the Bharatiya Janata Party will not allow it to succeed. We have complained to the Election Commission and will do so again," stated Delhi BJP chief Virendra Sachdeva. The AAP claims that the investigations are politically motivated, accusing the BJP of using the LG's office to sabotage its electoral prospects. "This order did not originate from the L-G's office but from Amit Shah's office. The BJP wants to stop the Mahila Samman Yojana in Delhi because they do not respect women. The BJP has already accepted defeat in the Delhi elections," AAP asserted. The party also claimed that over 22 lakh women have already registered for the Mahila Samman Yojana.

2024-12-28 20:50

2024-12-28

20:50

moneycontrol.com

https://www.moneycontrol.com/technology/voice-cloning-scam-how-it-works-and-tips-to-stay-protected-article-12899334.html

Voice cloning scam: How it works and tips to stay protected

voice calling scam.

ICICI Bank has warned about a new threat involving voice cloning scams. Cybercriminals are using advanced AI technology to mimic the voices of family members, friends, or trusted associates to deceive victims. These scams often begin with criminals obtaining a recording of the target’s voice. Once cloned, they use the imitation to make calls that sound authentic, tricking individuals into believing the requests are genuine. ICICI Bank’s advisoryThe bank emphasised the importance of staying alert and informed about the growing use of AI-driven scams. They urge customers to remain cautious and report any suspicious calls immediately. By maintaining vigilance and following the outlined steps, individuals can protect themselves from becoming victims of these sophisticated scams. How voice cloning scams workThe scammers typically create a sense of urgency, persuading victims to transfer money, share confidential information, or provide login credentials. These tactics rely on the trust people place in voices they recognize, making the scams particularly effective and difficult to detect. Steps to protect yourselfICICI Bank has advised customers to take precautions to guard against these threats: Be suspicious of urgent requests: Even if the voice sounds familiar, always validate the request through an independent channel before taking any action. Never share personal information: Avoid giving out sensitive details such as passwords or financial information over the phone, even if the caller seems trustworthy. Verify unexpected calls: If you receive an unexpected call requesting money or confidential details, contact the person directly through a trusted number or alternative communication method to confirm the request.

2024-12-28 20:03

2024-12-28

20:03

moneycontrol.com

https://www.moneycontrol.com/news/india/jyotiraditya-scindia-aims-to-make-postal-dept-profitable-by-2029-seeks-funds-from-fm-12899404.html

Jyotiraditya Scindia aims to make postal dept profitable by 2029, seeks funds from FM

Union Minister Jyotiraditya Scindia.

Union Communications Minister Jyotiraditya Scindia has sought funds from Finance Minister Nirmala Sitharaman for the Department of Posts to make it profitable by 2029, according to official sources. The Department of Posts (DoP) is working on plans to leap as a logistics company. ”Minister (Jyotiraditya Scindia) met with Finance Minister Nirmala Sitharam in New Delhi to discuss India Post’s path to profitability. He and his team at the Department of Posts presented their capital expenditure demands to the FM on Friday to make the Department a profit centre by 2029,” an official source said. The source did not share the capex sought by the postal department to chalk out its path to profitability. Another official said the postal department officers presented their capital expenditure demands to make India Post a profit-making logistics company with Scindia emphasising that the department aims to achieve higher customer acquisition, customer retention and operational efficiency. ”He also talked about the ongoing Business Process Re-engineering (BPR) exercise which will benefit a lot from the fund infusion from the Finance Ministry. He shared that the BPR exercise will also focus on launching more attractive B2B and B2C services,” the source said. In the meeting, Scindia shared that the capital expenditure will focus on infrastructure development and renovation of Post Offices as well as staff housing quarters across the nation. The minister said that the postal department will work towards automation of processes to make them efficient and future-ready. This is the second stint of Scindia at the Communications Ministry. He was a Minister of State under the UPA government in 2007 when he steered Project Arrow for modernization of the postal department and helped Dak Sewaks get office equipment. Scindia in six months of taking charge of the department in 2024, asked the India Post team to get exposure to international best practices and come up with innovative strategies for the department. Scindia during the meeting with Sitharaman assured that the postal department will be globally competitive by 2028-29. Scindia said that he believes in India Post’s potential to increase market share for most of its products, increase revenue and compete in the industry in the next 5-7 years. He shared that the focus will be on expanding the market share in mail and parcel verticals.

2024-12-28 20:01

2024-12-28

20:01

moneycontrol.com

https://www.moneycontrol.com/news/world/vladimir-putin-apologises-to-azerbaijans-aliyev-over-tragic-incident-of-plane-crash-12899400.html

Putin apologises to Azerbaijan for Kazakhstan plane disaster, says 'Russian air defence ...'

The Embraer EMBR3.SA passenger jet had flown from Azerbaijan's capital Baku to Grozny, in Russia's southern Chechnya region, before veering off hundreds of miles across the Caspian Sea..Related stories.

Russia's Vladimir Putin on Saturday apologised to Azerbaijan's president for a "tragic incident" which happened in Russian airspace involving an Azerbaijan Airlines passenger plane that crashed after air defences were used against Ukrainian drones. Russian President Vladimir Putin offered his apologies to his Azerbaijani counterpart Ilham Aliyev that the incident with the AZAL airliner occurred in Russia’s airspace and conveyed his condolences to the families of the plane crash victims, the Kremlin press office reported on Saturday. "Vladimir Putin offered his apologies that the tragic incident had occurred in Russia’s airspace and once again conveyed his deep and sincere condolences to the families of the plane crash victims and wished those injured the quickest recovery," the press office said in a statement. Flight J2-8243 crashed on Wednesday in a ball of fire near the city of Aktau in Kazakhstan after diverting from southern Russia where Ukrainian drones were reported to be attacking several cities. At least 38 people were killed. Four sources with knowledge of the preliminary findings of Azerbaijan's investigation into the disaster told Reuters on Thursday that Russian air defences had mistakenly shot it down. "At that time, Grozny, Mozdok and Vladikavkaz were being attacked by Ukrainian unmanned aerial vehicles, and Russian air defence systems repelled these attacks," the Kremlin said. The Kremlin said the call took place at Putin's request. Ilham Aliyev, Azerbaijan's president, had noted that the plane had been "subjected to external physical and technical interference in Russian airspace, resulting in a complete loss of control and redirection to the Kazakh city of Aktau," according to Azerbaijan's presidential office. Putin “apologized for the fact that the tragic incident took place in Russian airspace,” without saying Russia had been responsible, according to the Kremlin readout. In the Azeri readout, though, Putin was said to have apologized for “physical and technical interference” into the plane. In its statement, the Azeri president’s office said that Aliyev emphasized the presence of numerous holes in the plane’s hull and the fact that passengers and crew were injured by foreign particles that penetrated the plane’s cabin while still in the air, Bloomberg reported. *With Agency Inputs

2024-12-28 19:34

2024-12-28

19:34

moneycontrol.com

https://www.moneycontrol.com/news/india/30-foot-tall-chhatrapati-shivaji-statue-unveiled-at-pangong-tso-in-ladakh-12899401.html

30-foot tall Chhatrapati Shivaji statue unveiled at Pangong Tso in Ladakh

The statue, symbolizing the valour and leadership of the Maratha warrior king, was inaugurated in the presence of Ladakh BJP MP Jamyang Tsering Namgyal and the Indian Army, (Image: X).

A statue of Chhatrapati Shivaji Maharaj was unveiled on Friday on the banks of the serene Pangong Tso in Ladakh, situated at an impressive altitude of 14,300 feet. The statue, symbolizing the valour and leadership of the Maratha warrior king, was inaugurated in the presence of Ladakh BJP MP Jamyang Tsering Namgyal and the Indian Army. The statue, standing tall at over 30 feet, was crafted to honour the legacy of the Maratha warrior king, who is celebrated for his military prowess, administrative skills, and efforts to promote a just and egalitarian society. Located in the breathtaking and strategically important landscape of Pangong Tso, the statue is part of a larger initiative to celebrate India’s rich cultural and historical heritage in remote, high-altitude regions. The inauguration ceremony was attended by key dignitaries, military officials, and local leaders, including senior members of the Ladakh administration. While the event was relatively low-key due to challenging terrain and a sensitive security environment, it drew immense public interest through live broadcasts and social media coverage. Pangong Tso, a serene high-altitude lake shared by India and China, has recently gained attention for its stunning landscapes and geopolitical significance. The installation of the statue adds another layer of attraction to the site, drawing attraction for tourists, military personnel, and history enthusiasts, enhancing the region's significance in India's cultural and military heritage.

2024-12-28 19:10

2024-12-28

19:10