advertisement

You are here: HomeBusiness

Business (90)

According to the Forbes Real Time Billionaires List, Adani's net worth rose by $5.2 billion, a hike of 3.49 per cent. He is narrowly ahead of French tycoon Bernard Arnault and Amazon founder Jeff Bezos.

Billionaire tycoon Gautam Adani has now become the world's second richest man, replacing Bernard Arnault by a whisker on the Forbes list. The Adani Group chairman's net worth now stands at $155.5 billion ( RS12.37 lakh crore).

According to the Forbes Real Time Billionaires List, Adani's net worth rose by $5.2 billion, a hike of 3.49 per cent. He is narrowly ahead of French tycoon Bernard Arnault and Amazon founder Jeff Bezos. Source : ht

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

The United Nations World Health Organization (WHO) on Friday launched new guidelines on the role that tobacco product regulations can play in saving lives by reducing the demand for tobacco and tobacco products – estimated to kill over seven million people annually.

The new guide together with an accompanying publication will help governments “do much more” to implement regulations and address the exploitation of tobacco product regulations, highlighted the UN health agency.

“The tobacco industry has enjoyed years of little or no regulation, mainly due to the complexity of tobacco product regulation and lack of appropriate guidance in this area,” said Douglas Bettcher, the Director of the WHO Department for the Prevention and Control of Noncommunicable Diseases.

“Tobacco product regulation is an under-utilized tool which has a critical role to play in reducing tobacco use [and] these new tools provide a useful resource to countries to either introduce or improve existing tobacco product regulation provisions and end the tobacco industry ‘reign’,” he added.

The guide, titled Tobacco product regulation: Building laboratory testing capacity, provides practical and stepwise approaches to implementing tobacco testing relevant to a wide range of countries, especially those with inadequate resources to establish testing facilities.

It also provides regulators and policymakers with comprehensible information on how to test tobacco products, what products to test, and how to use testing data in a meaningful manner to support regulation.

The guidelines will also assist in the implementation of the WHO Framework Convention on Tobacco Control – a global treaty combatting the tobacco epidemic – through strengthening tobacco product regulation capacity in WHO member States.

According to Vinayak Prasad, the head of the Tobacco Free Initiative at WHO, most countries “hesitate” to implement policies, due in part to the highly technical nature of such policy interventions and the difficulties in translating science into regulation.

“Failure to regulate is a missed opportunity as tobacco product regulation – in the context of comprehensive control – is a valuable tool that complements other tried and tested tobacco control interventions, such as raising taxes, and ensuring smoke-free environments,” he explained.

The accompanying publication, Case studies for regulatory approaches to tobacco products – Menthol in tobacco products, includes practical steps as well as policy options countries can employ to make regulations more effective, such as the regulators’ enforcement of a total ban on the use of flavours in tobacco products such as menthol.

The guidance document and the accompanying publication were launched at the 2018 World Conference on Tobacco or Health in Cape Town, South Africa. Source : un.org

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

The illegal twin towers in Noida's Sector 93A were grounded by waterfall implosion technique in a matter of 12 seconds, South African firm Brinkman told reporters on Sunday.

With the successful demolition of the Supertech twin towers, India has joined the club of countries that have razed buildings taller than 100 metres, Joe Brinkman of South African firm Jet Demolitions has said.

The illegal twin towers in Noida's Sector 93A were grounded by waterfall implosion technique in a matter of 12 seconds, Brinkman told reporters on Sunday.

The Apex (32 storeys) and Ceyane (29 storeys) towers of Supertech had a height of 103 metres each, according to officials.

Mumbai-based Edifice Engineering, which was tasked with the demolition, had selected Jet Demolitions as its expert partner for the job. The two had together previously demolished four residential complexes in Maradu municipal area of Kochi, Kerala, in a similar fashion.

“India and Edifice have now joined the 100-metre club of countries which have buildings over this height that have been demolished and that too with residential buildings standing so close to them, making the project extremely challenging," Brinkman, 62, said, heaping praises on the Edifice-Jet team.

"All credit goes to the entire team," he said.

Jet Demolitions holds a distinguished position globally for demolition works.

In November 2019, the firm had grounded the 108-metre-tall Bank of Lisbon building in Johannesburg within a few seconds in an eye-popping event and ensured that a structure barely seven metres next to it was safe too.

Brinkman said the whole process for demolishing the Noida twin towers took 12 seconds.

He said the team's first priority was to ensure that there were no injuries to people during the implosion and no structural damage caused to any of the buildings around. He added that very few buildings taller than 100 metres have been demolished in a controlled manner across the world.

Edifice Engineering partner Utkarsh Mehta described Brinkman as the "mastermind" of the successful demolition.

He said around 35,000 cubic metres or approximately 80,000 tonnes of debris was left after the demolition. Around 50,000 tonnes of it has been absorbed in the basements of the now-demolished towers while the remaining would be disposed of in 90 days, he said.

“We will have to coordinate with the Emerald Court and ATS Village societies for the disposal since the debris would have to be first processed at the site only and then it would be taken to construction and demolition waste processing centres.

“Coordination would be needed for fixing the timing for work at the site to cause least disturbance to residents,” said Mehta.

Jigar Chheda, another Edifice partner, said they took six months to plan the clean execution of the demolition and the whole exercise was a “very challenging” process.

“Days and nights went into the preparation for this day. Over 9,000 holes were drilled for explosives in the two buildings; they had to be most accurate and all this was challenging,” Chheda told PTI.

“Getting permission from all authorities concerned, coordinating with multiple agencies, and convincing residents of safety were key effort areas,” he said.

Mayur Mehta, project manager for Edifice, said 9,642 holes were drilled and 3,700 kg of explosives were used for the demolition.

“The types of explosives used were Solar coal – with 6 gm, 10 gm, 20 gm, and 80 gm mass. Electric detonators, shock tubes and emulsions were also used. The tubes were placed in a way that some had a 0.5-millisecond explosion capacity, while others had a 7,000-millisecond capacity,” he added.

Edifice officials said nine metres of the boundary wall of ATS Village comprising some 900 bricks was damaged.

Several window panes in Emerald Court as well as ATS Village were cracked and they had started the process to replace them with new ones shortly after inspection at the site Sunday evening. Source : ht

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

Amazon has been contesting the planned $3.4 billion sale of Future Group's retail assets to Reliance, first announced in 2020, and the case is currently before the Indian Supreme Court.

Amazon.com Inc has gone on the attack in its bitter dispute with two Indian retailers, accusing them of fraud in Indian newspaper ads on Tuesday after Reliance Industries suddenly took over many of Future Retail stores.

Amazon has been contesting the planned $3.4 billion sale of Future Group's retail assets to Reliance, first announced in 2020, and the case is currently before the Indian Supreme Court.

Reliance, India's biggest conglomerate and retailer run by the country's richest man, began taking over the prized real estate with utmost stealth on Feb.25 when its staff showed up at many of Future biggest stores to assume control, sources have told Reuters.

In ads headlined "PUBLIC NOTICE" in leading Indian newspapers on Tuesday, Amazon said: "these actions have been done in a clandestine manner by playing a fraud on the constitutional courts in India."

Future and Reliance did not immediately respond to a request for comment.

Amazon's public outcry comes even though on March 3 it offered to hold talks. The ongoing talks have raised hopes the dispute could be resolved.

Future has said in filings this month that it could not pay rent at many outlets given its distressed financial situation and that Reliance, which had taken over many of its leases, had issued it with termination notices.

Amazon is concerned that Reliance is continuing to take over Future stores even as the talks continue, according to a source with direct knowledge of the matter who was not authorised to speak to media and declined to be identified.

The newspaper ads were aimed at alerting all stakeholders, including Future’s lenders, that the transfer of assets to Reliance is legally prohibited, the source added. Source : ht

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

Air Deccan takes wings again, flies to Jalgaon

Written by Monday, 18 September 2017 09:34

India’s first low-cost carrier Air Deccan, which ceased operations after being acquired by erstwhile Kingfisher Airlines in 2008, took off wings again as a commuter airline with its maiden flight taking off for Jalgaon from Mumbai on Saturday.

The flight, DN 1320, took off for Jalgaon, around 400 km from here in North Maharashtra, from the Chhatrapati Shivaji International Airport (CSIA) here this afternoon.

“It’s a sense of great beginning. A sense of being fortunate that Air Deccan is taking off again,” Air Deccan chairman Capt G R Gopinath told PTI.

There was a dream of taking flying to every possible corner of the country, which did not come to fruition because of Air Deccan’s merger with the Kingfisher Airlines in 2008, he said.

“Now I have the opportunity to relaunch operations across the country,” said the pioneer of low-cost aviation in India.

The flight was inaugurated by Maharashtra PWD Minister Chandrakant Patil along with Gopinath.

However, the maiden flight was marred by delay. The aircraft took off at around 2.55 pm instead of the scheduled departure of 1.20 pm. It landed at the Jalgaon airport at 4 pm where it was given a traditional water cannon salute.

Air Deccan’s strategic partners Shaishav Shah of Ahmedabad-based GSEC Ltd and Himanshu Shah of Monarch Networth Capital as well as senior DGCA officials were on-board the inaugural flight.

Air Deccan received the scheduled commuter operator (SCO) permit from regulator Directorate General of Civil Aviation (DGCA) yesterday.

In the first phase of operations, Air Deccan plans to provide connectivity to Jalgaon, Nashik and Kolhapur from Mumbai and Pune.

Air Deccan had bagged 34 routes in the first phase of bidding for Udan scheme, which caps fares at Rs 2,500 for a flight under hour duration.

For the Jalgaon flight, the airline has pegged fares at Rs 2,250 for 50 per cent of the seats, to be operated under the Regional Connectivity Scheme, while the ticket price for the remaining nine will be Rs 4,500 per seat, an official said.

Air Deccan has deployed a 19-seater plane, Beachcraft B-1900D, (18 passengers and one crew member) on the Mumbai- Jalgaon route. The same aircraft will come back to Mumbai and then fly to Nashik this evening.

Flight operators, awarded routes under the scheme, are entitled to a subsidy to keep fares low for the passengers. An airline has to set aside 50 per cent of its seating capacity at the discounted fares. Source : ht

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

GST effect: Rs 800 crore dip in state revenue

Written by Saturday, 16 September 2017 12:18

HYDERABAD: As feared by the Telangana government, the newly introduced Goods andServices Tax (GST) has administered a big shock to the state. In a development that the state is still trying to figure out, the first month of GSTimplementation showed a dip of `800 crore in the revenue.In July, the first month of GST, Telangana received Rs 850 crore under state GST, Rs 690 crore from petroleum products which are not under GST, Rs 500 crore from the sale of liquor, and `150 crore from other taxes. Through central GST, the state contributed around Rs 518 crore and another Rs1,000 crore was estimated to be collected as Integrated GST (IGST), and both these amounts were credited to the Government of India account. A senior official said, "The tax collected on products coming in from other states and consumed here will come under IGST. Though Telangana has a share in that, there is no clarity over the amount to be shared by each state."

Inflicting more pain on the state, the Centre has postponed devolution of central funds to states to 15th of every month as against the first. The delay is creating havoc as states are left with no money after paying salaries, pensions in first week.

Adding to the woes, the Centre has once again extended the date of the filing of GST returns. The due date for the filing of returns for GSTR-1 has been revised to October 10 from September 10. While GSTR-2 has a revised due date of October 31 from September 25, GSTR-3 has been revised to November 10 from September 30. The dates for filing returns of GSTR-4 for the tax period of July to September 2017 remains unchanged at October 18.

"We are now clueless as to when we would get our rightful share in the GST from the Centre as it has to adjust the accounts after the returns are filed," said an official in the revenue department.

In June, a month before the launch of GST, Telangana collected `3,200 crore revenue through commercial taxes, excise, transport and other taxes. After GST came into force in July, the state received only Rs 2,400 crore, which is Rs 800 crore less than what it had earned in the previous month. Another disadvantage for Telangana is that it would not get compensation for loss of revenue as the state already reported more than 14 per cent annual growth in the tax revenue. In the GST regime, states with less than 14 per cent growth are eligible for making a claim for compensation. The figures related to August has not yet been compiled but state officials apprehend that tough days are ahead for the state with regard to the implementation of GST.

 

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

Rupee opens 3 paise down at 64.15 against US dollar

Written by Friday, 15 September 2017 06:38

The rupee on Friday opened 3 paise down at 64.15 against dollar on account of buying in American currency by banks and importers amid persistent foreign capital outflows. 

The local currency on Thursday settled 12 paise down at 64.12 against dollar. 

Foreign portfolio investors sold shares worth a net Rs 762.42 crore on Thursday, as per data available with NSDL. 

Meanwhile, domestic equity markets opened in red following weak global cues. The BSE Sensex opened 34.30 points, or 0.11 per cent, down at 32,207.63, while NSE Nifty index opened 24.25 points, or 0.24 per cent, down at 10,062.35. 

Other Asian stocks were mostly trading lower after North Korea launched a missile in the direction of the east. As per reports, the unidentified missile flew over Japan before landing 2,000 km east of Hokkaido. 

US equities closed mostly lower on Thursday after strong inflation data raised the possibility of tighter monetary policy from the Federal Reserve. However, the Dow index closed at its record high. 

 
 

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

 

Mumbai: Pretty soon, your wallets will boast of Rs 100 coins as the government is set to introduce these new coins to commemorate the birth centenary of Bharat Ratna awardee and former Tamil Nadu Chief Minister late M G Ramachandran.

According to a statement by the Ministry of Finance, the government will also roll out new Rs 5 coins to mark this occasion. “The coins of the following denominations (Rs 100 and Rs 5) shall also be coined at the Mint for issue under the authority of the Central Government to commemorate the occasion of Dr MG Ramachandran birth centenary,” the Ministry of Finance said in a notification dated September 11.

The newly minted coins will be etched with MGR’s portrait in the centre. The words- 'Dr M G Ramachandran Birth Centenary' will be inscribed in the lower periphery while the same will be inscribed in the Devanagari script on the upper periphery.

The years marking the great actor and politician’s lifetime -'1917-2017' will be etched below his sketch, said the notification.

The reverse side of the coin will bear the Lion Capital of Ashoka Pillar in the centre with the inscription 'Satyamev Jayte'.

The Rs 100 will weigh 35 grams and will be made of 50 per cent silver, 40 per cent copper, 5 per cent nickel and 5 per cent zinc.

The Rs 5 coins will weigh 6 grams and will be made of 75 per cent copper,  20 per cent zinc and 5 per cent nickel.

Marudur Gopalan Ramachandran, popularly known as 'MGR', was the founder of the All India Anna Dravida Munnetra Kazhagam (AIADMK), the ruling party in Tamil Nadu now.

The film actor, who was elected as the chief minister thrice in his lifetime, was awarded the Bharat Ratna posthumously in 1988. He continues to be a political and cultural icon.

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

 

The Reserve Bank of India used sophisticated Currency Verification and Processing (CVPS) machines for checking the accuracy or the demonetised Rs 500 and Rs 1000 currency notes.

Quoting a Right To Information (RTI) reply, PTI had earlier reported that RBI was not using machines for counting Specified Bank Notes (SBNs).

The central bank in a late Sunday evening press release said that the "RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs (including SBNs scrapped on November 8). These machines are way superior to the note counting machines."

According to the PTI report, the Reserve Bank of India (RBI) had said in an RTI reply that counting machines are "not being used" for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices.

The central bank, which is responsible for printing of currency notes, later said, "With a view to augmenting processing capacity, RBI is using the available machines in two shifts and has been using some machines temporarily drawn from commercial banks after suitable modifications and it is also exploring other options to augment processing capacity even further."

In the RTI reply, RBI refused to give the total number of personnel deployed for counting of the scrapped notes, saying compiling the information would "disproportionately divert" its resources.

"Counting machines are not being used for the purpose in any offices of Reserve Bank of India," the RBI said in the RTI reply dated August 10.

The central bank also said no counting machines were taken on lease to reconcile the total figure of the junked notes.

It was asked to give details about machines being used for counting the Rs 500 and Rs 1,000 notes.

RBI also denied sharing information on the total number of personnel deployed for counting of the old notes.

"Compiling the information would disproportionately divert the resources, the information sought cannot be furnished as per Section 7 (9) of RTI Act, 2005," the RBI said in its reply to the RTI query filed by a PTI correspondent.

In its annual report for 2016-17 released on August 30, the RBI had said Rs 15.28 lakh crore, or 99 percent of the demonetised 500 and 1,000 rupee notes, had returned to the banking system.

It further said that only Rs 16,050 crore out of the Rs 15.44 lakh crore in the old high denomination notes have not returned.

As on November 8, 2016, when the note ban was announced by Prime Minister Narendra Modi, there were 1,716 crore pieces of Rs 500 and 686 crore pieces of Rs 1,000 notes in circulation, totalling Rs 15.44 lakh crore, it had added.

RBI is exploring other options to further augment the processing capacity.

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

This Is What States Are Demanding From GST Council

Written by Saturday, 09 September 2017 12:24

 

As the 21st meeting of the Goods and Services Tax (GST) Council kick-started in Hyderabad on Saturday, various states brought different concerns on board. The demands ranged from the issues faced by businesses in filing their maiden returns for the month of July to concerns over GST being levied on public utility projects. Chaired by Finance Minister Arun Jaitley, the 21st meeting of the GST Council was being attended by finance ministers of states and GST Secretariat officials.

Over 150 delegates were attending the meet being held at the Hyderabad International Convention Centre, news agency Indo-Asian News Services (IANS) reported.

Telangana is seeking relief for public utility projects like irrigation schemes, Mission Kakatiya for restoration and revival of tanks and for providing piped drinking water to every household and a two-bed room housing scheme for the poor, IANS said.

Telangana Finance Minister E Rajender said the state would reiterate the demand for scrapping GST on ongoing work contracts or at least reducing it to 5 per cent. The state is also seeking reduction in GST for the granite, marble industry and the beedi sector in view of their huge employment potential.
He said most of the states were supporting reduction in GST on public utility projects.

Telangana argues that its flagship projects were launched before July 1, when GST came into effect, and hence it will not be fair to impose a higher slab.

On the other hand, Jammu and Kashmir Finance Minister Haseeb Drabu said that the issues faced by GSTN are operational and technical, and these would have happened even if the GST was implemented a year later. Mr Drabu suggested that a group of ministers be formed to look into issues faced by taxpayers on GSTN portal.

Ahead of the meet, West Bengal Finance Minister Amit Mitra said that although it was claimed that GSTN can handle 3 billion invoices, the glitches in the portal show that GST was implemented in haste. Mr Mitra suggested that a white paper be brought out on the preparedness of GSTN-- the company which operates the IT backbone for GST.

Due to a huge rush of July GSTR-3B return filing on the penultimate date, the GSTN software witnessed glitches and the last date of filing was extended. Also the date of final return filing for GSTR-1 was extended to September 10 in view of rush in invoice uploading.

Ahead of the meeting, Andhra Pradesh Finance Minister Y Ramakrishnudu said that he will highlight various demands that the state had made earlier. "After the implementation of GST, as per our initial estimation, the state may see a short fall of Rs. 2,900 crore in revenue," Ramakrishnudu said, reported news agency Press Trust of India. "We also requested the Council to take a lenient view on the tax slab with regard to ongoing government projects. As of today, projects worth about Rs. 20,000 crore are under implementation," he saiid.

 

 

 

Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn

Editor opinion

EC warns political parties from campaigning in adjoining districts

EC warns politi...

The Election Commission of India (ECI) h...

Partition to electoral rolls: Many challenges before a young India

Partition to el...

India’s first general election was produ...

Right Advt

  

    

Contact Us


    • Address: 1/24, KMT Bhawan, 2nd Floor street no. 2, Lalita Park, Laxmi Nagar, Delhi 92
    • Mob: +91.9213493068, 9910636345
    • Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.
    • Website: http://aihranews.org/

About Us

AIHRA is one of the renowned media group in print and web media. It has earned appreciation from various eminent media personalities and readers. ‘AIHRA’ is founded by Mr. M U Dua.