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Archives for August 2018

Rupee hits fresh low; slips on crude oil prices

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High global crude oil prices, along with continuous outflow of foreign funds pulled the Indian rupee to a fresh intra-day and closing low on Thursday.

Analysts pointed out that caution ahead of key macro-economic data, coupled with a rise in demand for US dollars also dragged the rupee lower.

“High crude oil prices have pulled the rupee lower,” Anand Rathi Shares and Stock Brokers’ Research Analyst Rushabh Maru told IANS.

“Most emerging market (EM) currencies were down and this also pressurised the Indian rupee.”

On an intra-day basis, the Indian rupee plunged to 70.85 — the lowest ever mark — against the greenback at the Interbank foreign exchange market. It surpassed the previous record low of 70.65-66 to a greenback made on Wednesday.

It settled at a record closing low of 70.74-75 against the US dollar, weaker 15 by paise from Wednesday’s close of 70.59-60 to a US dollar.

According to Tradebulls’ Director and Chief Operating Officer, Dhruv Desai: “Currently sensitivity of Indian rupee to crude oil prices is very high.”

“In spite of weakening US Dollar since last week, Indian rupee struggled to gain against US dollar as market is pricing in higher current account deficit due to rise in crude prices.”

Apart from high crude oil, outflow of foreign funds from the Indian equity and bond markets has had an adverse impact on the rupee.

Investment-wise, data from the NSDL on Thursday showed that foreign portfolio investors (FPIs) sold scrip worth Rs 1,379.34 crore.

Besides, caution prevailed ahead of the release of India’s GDP and fiscal deficit data. The key macro-economic data points will be released on Friday.

“Rupee needs more support from RBI or some big global positive news. The trend remains weak until some sizeable intervention by RBI verbal or actual. There is a lot of panic buying amongst importers and equity investors as well who want to hedge the currency risk now,” said Sajal Gupta, Head Forex and Rates, Edelweiss Securities.

“Our macros remain robust but panic is the key factor behind current volatility. Everyone is a buyer of dollars in current market.”

The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit.

UN alarmed by China’s Uighur camps

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The UN has said it is alarmed by reports of the mass detention of Uighurs in China and called for the release of those held on a counter terrorism “pretext”.

This comes after a UN committee heard reports that up to one million Muslim Uighurs in Xinjiang were held in re-education camps, Xinhua news agency reported.

Beijing has denied the allegations but admitted that some religious extremists were being held for re-education.

China has blamed Islamist militants and separatists for unrest in the province.

During a review earlier in August, members of the UN Committee on the Elimination of Racial Discrimination said credible reports suggested Beijing had “turned the Uighur autonomous region into something that resembles a massive internment camp”.

China responded that Uighurs enjoyed full rights but Beijing made a rare admission that “those deceived by religious extremism… shall be assisted by resettlement and re-education”.

Asiad 2018: India win women’s 4X400m gold

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India won gold in the women’s 4X400 metre event at the 18th Asian Games here on Thursday.

The Indian quartet of Hima Das, Raju Poovamma, Saritaben Laxmanbhai Gayakwad and Vismaya Koroth registered a time of 3 minutes and 28.72 seconds to finish at the top of the podium.

Bahrain got silver with 3:30.61 while the quartet from Vietnam clocked their season’s best time of 3:33.23 to bag the bronze medal.

India dominate day 1 of 4th Test vs England

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India dominated the opening day of the fourth Test match as the visitors first bowled out England just a few overs before stumps and then scored 19/0 at the Rose Bowl Cricket Ground here on Thursday.

With India trailing by 227 runs, openers Lokesh Rahul (11) and Shikhar Dhawan (3) remained unbeaten.

The day started with Indian pacers wrecking England’s top order, taking four quick wickets to reduce the hosts to 57/4 at lunch.

Jasprit Bumrah (2/21), Ishant Sharma (1/7) and Hardik Pandya (1/16) were among the wickets even as Mohammed Shami, coming in as the second change bowler, constantly kept asking questions to the vulnerable English pair.

Electing to bat on a track with a tinge of live grass, England’s opening woes continued to haunt them as Keaton Jennings was trapped plumb in front by an excellent incoming delivery from Bumrah, for a duck in the third over of the innings.

One over later, Bumrah almost sent packing English skipper Joe Root (4) when he was on two, before the Decision Review System (DRS) came to the latter’s rescue. Root was trapped plumb in front but television replays showed the bowler had overstepped.

The England captain, however, failed to take advantage of the reprieve as Ishant swung it big into the England captain to trap him lbw.

Reduced to 15/2, England’s hopes were pinned on former skipper Alastair Cook (17) and Jonny Bairstow (6), playing as a specialist batsman after injuring his finger.

But Bumrah scuttled such ambitions by scalping Bairstow, caught behind by Rishabh Pant in the 13th over before first-change bowler Hardik ended Cook’s 55-ball resistance, thanks to a brilliant low catch at the third slip by Virat Kohli.

India could have had Buttler too, but Pant missed a tough one. Together with Stokes, Buttler managed to see off the initial scare from the Indian pace attack before heading for lunch undivided.

The second session saw Indian pacers continue their domination, taking two more wickets in the second session to reduce England to 139-6.

Resuming the post-lunch session at 57/4, Stokes and Buttler played out the initial few overs cautiously before Buttler started opening up only to bring his downfall, caught by Virat Kohli off Shami.

Reduced to 86/6, the left-handed pair of Moeen and Sam steered the ship to safety, as they played the Indian pacers with extreme caution and did not allow premier off-spinner Ravichandran Ashwin to dominate.

The final session saw Moeen and Curran stabilising the hosts innings, forging a crucial 81-run partnership. After Moeen’s wicket no other batter supported Curran, and as a result the hosts were bundled out for 246 just before the end of play.

For India, Jasprit Bumrah took three wickets while Ishant Sharma, Mohammad Shami and Ravichandran Ashwin took two wickets each.

Brief scores: England first innings: 246 all out (Sam Curran 78; Jasprit Bumrah 3/46) against India: 19/0 (Lokesh Rahul 11) at stumps on Day 1

‘Gold’ becomes first Bollywood film to release in Saudi Arabia

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Akshay Kumar starrer “Gold” will be the first Hindi film which will be releasing in Saudi Arabia, the National Award-winning actor says.

An “excited” Akshay tweeted on Thursday night: “The story of India’s first Gold medal victory for the first time in the Kingdom of Saudi Arabia. Happy to share, ‘Gold’ is the first ever Bollywood movie to release in the Kingdom Of Saudi Arabia, in cinemas from today!”

A historical sports drama inspired by India’s first Olympic gold medal, “Gold” traces the golden era of Indian hockey through the journey of Tapan Das, a young assistant manager who dreamt of playing for an independent nation.

The film also stars Mouni Roy, Amit Sadh, Kunal Kapoor, Sunny Kaushal, Vineet Kumar Singh and Mouni Roy.

Directed by Reema Kagti, the film released on August 15.

Intense love stories become successful with newcomers: Imtiaz Ali

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Filmmaker-producer Imtiaz Ali who is gearing up for the release of his forthcoming production ‘Laila Majnu’ feels that most of the times intense love stories become successful when you have new actors in the film.

Imtiaz Ali was interacting with media to promote the film along with his filmmaker brother Sajid Ali on Thursday in Mumbai.

Avinsh Tiwary and Tripti Dimri are making their Hindi film debut. Asked what prompted him to work with new star cast in this film, Imtiaz said, “If you look in the past, you will see that intense love stories have been successful with new cast, be it in films like Ek Duje Ke Liye, Qayamat Se Qayamat Tak, Maine Pyaar Kiya and Ashiqui series, the characters of that film are young and actors who are playing that part is also young so, it’s a plus”.

“I also think established actors have certain kind of reputation onscreen, therefore, we wanted to cast new actors because audience should feel that they are watching the characters rather than any star in the film without any preconceived notion,” he added.

Imtiaz Ali has earlier worked with actors like Shahrukh Khan, Anushka Sharma, Ranbir Kapoor and Kareena Kapoor. Asked whether he observes any difference in working with new actors and established ones, he said, “I don’t think there is any difference because each actor has been new at some stage.

“If the actor suits the character, then it becomes easier and I have enjoyed working with all the actors in the past because they were so much interested in filmmaking process. So, I can’t differentiate between new and established actors when it comes to working with them.”

Set in Kashmir, ‘Laila Majnu’ is a story that revolves around Kais (Avinash Tiwary) and Laila (Tripti Dimri) whose journey of love is filled with insurmountable obstacles.

Based on the classic story of Laila Majnu, this contemporary take on the tale has been penned by Imtiaz Ali.

The film is directed by Sajid Ali and produced by Balaji Motion Pictures and Pi Films.

It will hit the screens on 7th September.

(IANS)

Voting underway in Karnataka civic polls

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Moderate polling is underway since for the election to 102 Urban Local Bodies (ULBs) across Karnataka, a poll official said on Friday.

Polling started at 7 a.m. amid tight security, the official added.

About 40,000 security personnel have been deployed in cities and towns to maintain law and order across the state where voting will continue till 5 p.m.

Electronic Voting Machines (EVMs) are being used in the poll.

Voting is being held in 2,529 wards spread over 29 city municipalities, 53 town municipalities and 23 town panchayats and in 135 wards of the three city corporations.

In all, 8,340 candidates, including 2,306 from the Congress, 2,203 from the Bharatiya Janata Party (BJP) and 1,397 from the Janata Dal-Secular (JD-S) are in the fray for the ULBs, while 814 are contesting in the city corporations, including 135 from Congress, 130 from BJP and 129 from JD-S.

A total of 36 lakh voters are registered for exercising franchise in the ULB wards and 13.33 lakh in the three towns of Mysuru, Shivamogga and Tumakuru.

Counting of votes will be taken up on September 3 and most of the results are expected by night or early the next day.

Though the civic election was earlier scheduled to be held in 105 ULBs, it has been postponed in three of them — Somwarpet, Virajpet and Kushalnagar due to heavy rains and flash floods early in August in the Kodagu district, about 270km from here.

In the 2013 ULB elections held in 4,976 seats, the Congress had won 1,960 seats, while BJP and JD-S had won 905 seats each, the Independents bagged the remaining 1,206 seats.

Rahul Gandhi May Decline RSS Invite After Kharge’s Warning .

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Cautioned by senior party leader Mallikarjun Kharge against the “trap laid by the RSS”, Congress president Rahul Gandhi may decline to participate in the three-day conclave of the Sangh in Delhi if an invite is extended for the programme.

“RSS is like a poison. They are trapping him by forcing him to drink poison by extending the invite. There is no need to drink poison,” Kharge who is also the leader of the party in Lok Sabha told this to Rahul in the core committee meeting of Congress earlier this week.

RSS is organising a three-day meeting at Delhi’s Vigyan Bhawan in the third week of September to discuss and debate ‘RSS Perspective on the Future of Bharat’. There were reports in the media about RSS inviting leaders of all political parties for the conclave in Delhi, including CPM general secretary Sitaram Yechury and Congress president Rahul Gandhi.

Sonia Gandhi had also declined an invite from the RSS when she was the party president.

Rahul after taking charge of the party last year has launched a scathing attack on the Sangh. In one of the interactions during his Europe tour, he had compared Sangh to radical right-wing outfit Muslim Brotherhood.

Rahul is also facing a defamation suit in a Maharashtra court on his statements linking RSS to Mahatma Gandhi’s assassination.

Sources say at the core meeting Rahul and his team discussed their strategy for the Lok Sabha polls.

The Congress in the coming days will continue to mount pressure on the government over Rafael deal and demonetisation. At the same time, party will be treading cautiously not to get embroiled a polemical debate on issues which may trigger religion polarization. The Congress will project itself as a party which believes in One India.

(PTI)

Pakistan marchers threaten Islamabad blockade over Dutch cartoons

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Hundreds of far-right protesters are marching on the Pakistani capital Islamabad, threatening to blockade the city unless the country cuts diplomatic ties with the Netherlands over a cartoon competition deemed to be blasphemous.

Protesters belonging to the Tehreek-e-Labbaik Pakistan (TLP) party began the second day of their march on the capital from the eastern city of Lahore on Thursday.

Images from the march showed TLP activists toppling a container used to block their path in the Punjab town of Jhelum, as they continued on their way towards the capital.

Security has been increased in Islamabad ahead of their arrival, with roadblocks prepared to be placed on several major roads.

The TLP activists are protesting against a competition for cartoons depicting Islam’s Prophet Muhammad by far-right Dutch opposition leader Geert Wilders, a known provocateur.

Physical depictions of God or the Prophet Muhammad are forbidden in Islam, and the TLP says the competition amounts to “blasphemy”.

The Dutch government has distanced itself from the competition, with Prime Minister Mark Rutte clarifying that Wilders is not a member of the government.

Pakistan condemns blasphemous Dutch cartoon contest
“The competition is not a government initiative,” he told a news conference last week.

The Dutch government, however, maintains that banning the competition would be a violation of the right to freedom of expression.

Foreign Minister Stef Blok echoed Rutte’s comments.

“The Netherlands very much adheres by freedom of speech, but we also adhere to treat religions respectfully,” Blok said according to Dutch news agency ANP.

He added that the competition “wouldn’t be his choice” but that there were no plans to ban the contest from happening.

Wilders leads the Dutch opposition Freedom Party (PVV) and is known for his incendiary speeches and protests against immigration and Islam.

The far-right politician told Dutch media the contest was not being held “to provoke, but to show we are marching for freedom of speech”.

On Tuesday, Dutch police arrested a man accused of plotting to kill the politician over the competition.

Clashes with riot police
The TLP rose to prominence last November, when firebrand Muslim scholar Khadim Hussain Rizvi, the party’s founder, led a three-week blockade of the Pakistani capital over a minor change to an electoral oath that he said amounted to “blasphemy”.

Riot police clashed with protesters but failed to end the demonstration, with TLP activists only vacating the sit-in after the government capitulated to all their demands, including the reversal of the change in the oath, the resignation of a federal minister, and the granting of legal immunity to all protesters.

In Pakistan’s July general election, the newly formed party bagged 2.2 million votes in national assembly constituencies nationwide, making it the fifth most popular political party in the country.

Tehreek-e-Labbaik: New far right campaigns against ‘blasphemy’
Those votes, however, only translated to two provincial assembly seats in the southern province of Sindh.

Ijaz Ashrafi, a TLP spokesperson, told Al Jazeera that his party was prepared to repeat the November blockade if their demand that Pakistan cut diplomatic ties with the Netherlands was not met.

“This issue must be resolved on an emergency basis, otherwise we will be out on the streets,” he said shortly before the protest. “I don’t mind if I die, but no one can dishonour the Prophet.”

‘They must act’
On Monday, Pakistan’s upper house of parliament passed a resolution condemning the holding of the competition, with newly elected Prime Minister Imran Khan saying his government would raise the matter with the Organisation of Islamic Conference (OIC) and at the United Nations.

At a press briefing on Wednesday, Pakistani Foreign Minister Shah Mehmood Qureshi said he had requested the OIC to call an emergency meeting on the issue.

“We have decided that an effective voice may be raised unanimously from the OIC platform,” he said.

“I assure the people of Pakistan that we are aware of their sentiments and we will stand with the Muslims around the world in raising the voice against this event.”

Qureshi’s statement followed an official note of protest registered with the Dutch charge d’affaires in Islamabad, as well as a phone call with Dutch Foreign Minister Blok.

It is unclear, however, if the government’s statements will be deemed sufficient by the TLP.

As the protest caravan of hundreds wound its way through Punjab province, the country’s political heartland, demonstrators carried banners condemning the Dutch government and Wilders and sang devotional songs.

Dutch police arrest man over alleged plot to kill Geert Wilders
“For our Prophet’s honour, we will lay down our lives,” they chanted, video footage from the rally showed.

Prime Minister Khan frequently referred to the blasphemy allegations raised by the TLP in November during his election campaign, and in his victory speech promised to run the country on the basis of the Prophet Muhammad’s governance of the Arab state of Medina in the 7th century.

“They have made a promise during the election, they have promised to establish a state along the lines of Medina,” said TLP spokesperson Ashrafi.

“So now they must act.”

 

 

India eye 1st women’s hockey Asiad gold in 36 years

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A confident India womens hockey team will be vying to win the gold medal after a long wait of 36 years when they take on Japan in the final at the 18th Asian Games here on Friday.

India won the gold medal in 1982, the year women’s hockey was first included in the Asian Games programme. They reached the final for the second time in 1998 when they lost 1-2 to South Korea. They bagged bronze medals in 2006 and 2014

The impressive Indian team has remained undefeated throughout the tournament, registering huge victories against Indonesia (8-0), Kazakhstan (21-0), South Korea (4-1) and Thailand (5-0) in the pool stages and securing a hard-fought 1-0 win against a resilient Chinese team in the semi-final.

India’s form in the competition has been inspired by their resolute defending in all their five matches which has seen them concede only once in 300 minutes of hockey, which was through a penalty stroke against South Korea.

Deep Grace Ekka, Deepika, Gurjit Kaur, Sunita Lakra and youngster Reena Khokhar have all played a major role in defence. But chief coach Sjoerd Marijne believes that the credit for the strong defence goes to the team’s collective performance.

“We have been good in defence throughout the tournament and have been excellent with the tackling. The only goal we conceded was against a strong team like South Korea, and that gives me and the girls a huge confidence going into the final against Japan,” Marijne said.

“We have defended well as a unit with everyone executing their duties and it gives us a solid foundation in all the matches,” he added.

The World No. 9 India became the highest ranked Asian team in the world after their quarter-final finish at the recent FIH Women’s World Cup 2018, and captain Rani Rampal is determined to become the champions of the Asian Games as well.

“The final against Japan will be exciting for sure but we are determined to give everything on the pitch to win the match. The team knows that they came here to only achieve one thing, and that is qualification for the 2020 Tokyo Olympics. Therefore, we will make sure that we play like the best team in Asia and work hard to achieve our goal,” Rani said.

The team’s forward-line, led by the experience of Vandana Katariya and skipper Rani, has also been in prime form throughout the tournament, scoring a total of 39 goals. This includes 38 in four Pool B matches and one in the semi-final in the five matches that they have played.

The Indian team will expect their forwards Navneet Kaur, Navjot Kaur and Lalremsiami to deliver again as they look to win only their second gold medal at the Asian Games after having won one gold, one silver and three bronze medals in their nine previous appearances.

Friday’s decider will also be India’s second gold medal match at the Asian Games, with the team having lost their 1998 final match 1-2 to South Korea, and chief coach Sjoerd Marijne is wary of the threat that the Japanese team poses but believes that his team is oozing confidence ahead of the summit clash.

“We have played Japan in the past and we know that they are a strong side. They have played well in this tournament and deserve to be in the final,” he said.

“But I believe we have the quality and confidence to beat any team in the world. Therefore, it is important that we stick to our game-plan and concentrate on producing the kind of performance which is worthy of being the Champions,” he added.

(IANS)

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