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Archives for September 2018

Inflationary risks depress rupee; touches new low of 72.74

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Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.74 to the US dollar during late afternoon session on Tuesday.

At 3.35 p.m. the rupee traded around 72.64 per dollar, against the previous close of 72.45 per dollar at the Inter-Bank Foreign Exchange Market.

According to analysts, expectations of higher overall inflation rate, growing protectionism in global trade and an increasing outflow of foreign funds from the country’s equity market have subdued the Indian currency.

(IANS)

BJP trying to snatch 20 legislators through Operation Lotus

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BJP is understood to have launched a major offensive by way of ‘Operation Lotus’ in the state to cause the downfall of the coalition government. This time, its target happens to be 20 MLAs.

The plan is to attract 12 MLAs with the support of Jarkiholi brothers who are said to be disgruntled over the recent developments in Belagavi district. On the other hand, Yeddyurappa is involved with behind-the-scene manoeuvres to get support of eight legislators owing allegiance to other parties. The plan is to put together a minimum of 16 legislators so that the coalition government can be floored.

The BJP hopes to bank prominently on the anger of Jarkiholi brothers relating to PLD bank election in their home district. Reportedly, Balachandra Jarkiholi, who has been identified with the BJP, is acting as mediator between the two sides to conjure up the magic numbers required.

It is gathered that Yeddyurappa has convinced the national leadership of the party for this move by saying that his dream of becoming chief minister will come true only if the coalition government crashes before the Lok Sabha election. However, there is a hitch in the form of state leaders, former deputy chief ministers, Ashok and Eshwarappa and former chief minister, Jagadish Shettar, who have remained aloof without doing anything to favour this move. Realizing this situation, some Congress and JD(S) leaders have meet BJP legislators and offered them posts of ministers. It is a huge task to get support of 16 MLAs, the BJP national leadership knows.

There have been rumours that Ramesh Jarkiholi met Maharashtra chief minister, Devendra Fadnavis, through his relatives in that state and discussed some issues with him. Responding to this allegation, Ramesh Jarkiholi clarified that the coalition government does not face any peril from his family. He said he met the chief minister of Maharashtra, as they have sugar factories in Maharashtra. Jarkiholi family is also aggrieved at the chief minister not transferring the superintendent of police and northern range inspector general of police as per their recommendation, and transfer of certain engineers to some other places by minister, Shivakumar, against their wishes.

Although Jarkiholi brothers were to hold discussions with Sriramulu and Yeddyurappa here on Monday, they could not do so as Sriramulu had by then, left for Ballari. While the Jarkiholi brothers have been eyeing the post of the chief minister, Yeddyurappa is said to have agreed to make one of them deputy chief minister.

(IANS)

Kumaraswamy solicit Rs. Rs 1199 cr for Kodagu flood relief

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Karnataka delgation led by CM meets Modi and seeks relief. A high-level delegation from Karnataka led by Chief Minister H D Kumaraswamy met Prime Minister Narendra Modi and sought a relief of Rs 1,199 crore for flood-hit seven districts of the state.

The delegation also apprised the prime minister of the prevailing drought-like situation in 17 of the total 30 districts in the state. The delegation comprised former prime minister H D Deve Gowda, Deputy Chief Minister G Parameshwara, and ministers HD Revanna, R V Deshpande, D K Shivakumar and Krishna Byre Gowda. BJP’s Karnataka unit leaders were also invited to the meeting but they chose to give it a miss.

Karnataka CM Kumarswamy and PM Modi

After the meeting, Kumaraswamy said, “We have told the prime minister that the floods in seven districts of the coastal and Malenadu region have not only affected crops but also infrastructure and human life. We have requested Rs 1,199 crore relief from the Centre.” Kumaraswamy said floods and landslides in the state have caused a loss of Rs 3,705.87 crore. He said his government has already released Rs 49 crore from the State Disaster Responde Fund (SDRF) and an additional amount of Rs 200 crore from the state fund to the effected districts towards immediate relief and rehabilitation work.

The chief minister had recently submitted an interim proposal in this regard to Union Home Minister Rajnath Singh, who had assured of sending a central team to ascertain the damage caused.

With regard to the drought-like situation in the state, Revenue Minister Deshpande said 17 districts in the interior parts of northern Karnataka and a few districts in southern interior are facing severe drought. About 89 taluks are facing a drought-like situation, he said. “A decision to declare these taluks as drought-hit will be taken tomorrow in the state cabinet sub-committee meeting. Thereafter, full assessment will made and a memorandum seeking central relief will be submitted in due course,” he said.

The crop loss alone is estimated at more than Rs 8,000 crore taking into account the preliminary assessment of the drought-affected area, he said. Against the total kharif area of 74.69 lakh hectares, sowing has been done in 62.88 lakh hectares as of now. Sowing in the rest of the area has not taken place due to lack of adequate rains, he added.

(PTI)

Stable policy regime for e-mobility soon: Modi

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Prime Minister Narendra Modi on Friday said that the government will soon put in place a new stable policy regime to promote the use of electric and other alternative-fuel vehicles in the country to fight climate change.

“We want to build India as a driver in electric vehicles. We will soon put in place a stable policy regime around electric and other alternative-fuel vehicles,” Modi said at the launch of the two-day “Move: Global Mobility Summit” here.

“Clean mobility powered by clean energy is our most powerful weapon in our fight against climate change. This means a pollution-free, clean drive, leading to clean air and better living standards for our people,” he said.

Modi said that in a rapidly transforming mobility paradigm, India had inherent strength and comparative advantages over other major economies.

“We have little of the legacy of resource-blind mobility. We have fewer vehicles per capita than other major economies. Thus, we do not carry much of the baggage of other economies that were built on the back of private car ownership. This gives us a window of opportunity to create an all new seamless mobility ecosystem,” the Prime Minister said.

He added that not only did India have a strong Information Technology sector, but also its vast public digital infrastructure created by the unique identity programme Aadhaar.

“With digitally empowered 850 million Indian citizens, we can demonstrate how such digital infrastructure can be combined with new mobility business models.

“Our renewable energy boost will ensure that the environmental benefits of electric mobility can be fully realised. We plan to draw 175 GW of energy from renewables by 2022. We are already the fifth largest producer of solar energy and sixth largest of renewable energy in the world,” Modi added.

He said that India also had a fast growing manufacturing base and a large digitally-literate young population.

“Therefore, I am convinced that India is the best place globally to be an early mover in the mobility economy… we will do whatever it takes, because this is our commitment to our heritage and our promise to future generations,” he added.

Calling mobility similar to Internet in its early days, Modi said that the mobility revolution was an enabler of India’s growth and development, which was capable of creating employment for those with doctorates and engineering degrees, to drivers and mechanics.

“We should embrace this revolution early and leverage ourselves to lead the mobility innovation ecosystem both for ourselves and others,” he said.

“My vision for the future of mobility in India is based on 7 Cs — common, connected, convenient, congestion-free, charged, clean, cutting-edge.” Charged mobility, Modi said, was the way forward.

“We want to drive investments across the value chain from batteries to smart charging to electric vehicle manufacturing… India’s entrepreneurs manufacturers are now poised to develop and deploy breakthrough battery technology,” he said.

The Prime Minister also said that India’s economy and reforms were on the move in this direction.

“Our economy is on the move. We are the world’s fastest growing major economy. Our cities and towns are on the move. We are building 100 smart cities. Our infrastructure is on the move. We are speedily building roads, airports, rail lines and ports…

“Our goods are on the move. Goods and Services Tax has helped rationalise supply chains and warehouse networks… our reforms are on the move. We have made India an easier place to do business. Our lives are on the move. Families are getting homes, toilets, LPG cylinders, bank accounts and loans… we are fast emerging as the start-up hub of the world,” he said

Indian charged with stabbing roommate for talking loudly on phone

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An Indian man has been charged with stabbing to death his roommate for talking loudly on the phone.

Public prosecution records showed that the 37-year-old Indian construction worker, who was drunk, fatally stabbed the victim in his room in the March incident in Al Qusais area. The Indian was charged at the Court of First Instance, the Khaleej Times reported on Tuesday.

Prosecutors called for a stiff penalty to be inflicted on the Indian.

“I was informed by a driver about a problem involving the defendant. I went to the latter’s room and saw a crowd of labourers… The victim was lying in a pool of blood. He appeared motionless with a stab wound in the abdomen,” said an Indian labour accommodation supervisor.

“I heard from a group of workers that a verbal brawl ensued between the accused and the victim as the latter was talking loudly on his mobile phone”, the supervisor said.

“He (the Indian man) picked a knife and stabbed the victim in the abdomen. He then pulled out the knife and rushed out.”

A witness said that he saw the Indian man outside of the building. “He was apparently drunk and bleeding from between his fingers. He would not tell me how he got that injury,” according to the witness.

A CCTV footage showed the accused hiding the knife under his clothes when he entered a restroom and walking out without it.

The cause of death was severe bleeding due to a deep stab wound, officials said. The trial was adjourned to October 7.

(IANS)

Petrol touches Rs.90.11 in Maharashtra’s Parbhani

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Petrol prices on Tuesday breached the psychological barrier of Rs 90 and touched a scorching Rs 90.11 in Maharashtra’s Parbhani – a new record in India, an official said.

Parbhani District Petrol Dealers Association (PDPDA) President Sanjay Deshmukh told IANS that diesel prices also increased from Rs 77.92 to Rs 78.06 on Tuesday.

On Monday, the petrol price was Rs 89.97 and diesel stood at Rs 77.92 in the town with a population of around 3,10,000, around 500 kms east of Mumbai in Marathwada region.

On the 15th day of consecutive hikes, petrol prices increased on Tuesday by Rs 0.14 and diesel by Rs 0.15, from 6 a.m, barely two days before the state’s biggest 10-day Ganeshotsav festival begins.

The other highest centres include Nanded where petrol was retailing at Rs 89.93 per litre and diesel Rs 77.90, and Amravati Rs 89.93 and Rs 78.84.

Elsewhere in Maharashtra, in Thane petrol retailed at Rs 88.43 and diesel Rs 77.64, Mumbai was Rs 88.35 and diesel at Rs 77.56.

On Monday, the ruling Bharatiya Janata Party termed the hike in petroleum products as a ‘momentary difficulty’ owing to an international crisis after the Opposition parties in the country observed a Bharat Bandh, to protest the skyrocketing fuel prices.

(IANS)

US award for Indian-born woman research scholar

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An Indian-born woman research scholar from the University of Washington won the Paul Baran Young Scholar Award for 2018 for using smartphones to detect life-threatening symptoms, the California-based Marconi Society, which has instituted the award, said on Tuesday.

“Nandakumar Rajalakshmi is the winner of this year’s Young Scholar Award for her outstanding research work in detecting life-threatening symptoms using smartphones,” the Society said in an e-mail to IANS.

Inspired by bats, which use sonar to navigate in the dark by sending acoustic signals and using reflections to identify objects, Rajalakshmi, 28, has turned a smartphone into an active sonar system to detect physiological activity like movement or respiration in a human body by a remote device.

“Rajalakshimi’s system works by transmitting inaudible sound signals from a smartphone’s speaker and tracking their reflections off the human body. The reflections are analysed by algorithms and signal processing techniques,” the Society said in the e-statement.

The system is disrupting the sleep industry by creating a non-intrusive, low-cost application — ApneaApp for detecting sleep apnea, a breathing disorder that affects millions of people the world over and yet remains undiagnosed.

“I wanted to find a way to detect physiological signals, like pulse and heart rate, which are used for healthcare applications. When I found that many consumer electronic devices have speakers and microphones, I decided to study if inaudible signals could help detect physiological movement,” Rajalakshmi told IANS via another e-mail.

The Society will honour Rajalakshmi with the award on October 2 at Bologna, Italy.

“Being recognised by the Marconi Society is humbling and motivates me to excel further in this field and to have a much larger impact,” she said.

Paul Baran (1926-2011), a Polish-born Jewish American engineer, was a pioneer in the development of computer networks. He won the Marconi Prize in 1991 for inventing packet switching technology, used in data communications, worldwide.

Set up in 1975 by Marconi’s daughter Gioia Marconi Braga through an endowment, the Society annually awards outstanding individuals whose scope of work and influence emulate the principle of “creativity in service to humanity” that inspired Marconi.

The young scholars are selected by an international jury of engineers from leading universities and firms on nomination from their academic advisers.

The award consists of $5,000 (Rs 362,500) and expenses to attend the annual ceremony.

“More than the prize, Young Scholars are offered mentoring and guidance by the Society’s distinguished roster of engineering greats,” added the statement.

A post-doctorate scholar in the University of Washington’s Paul G. Allen School of Computer Science & Engineering at Seattle, Rajalakshmi went to the US in 2013 after a two-year stint as a research assistant at Microsoft India Research Centre in Bengaluru during 2011-13.

She graduated in B.Tech from Guindy College of Engineering in Chennai after studying at TVS Lakshmi School in the temple town of Madurai in Tamil Nadu.

Rajalakshmi’s parents run a healthcare devices firm Ideal Diagnostics Ltd at Madurai, about 460 km southwest of Chennai.

“My father was in the healthcare sector when I grew up and spent a lot of time in these environments. The best part of my work is seeing the people using my technology and knowing that it benefits their well-being. As a computer scientist, I find it very fulfilling,” recalled Rajalakshmi.

Before Rajalakshmi developed the ApneaApp, diagnosing sleep apnea was an expensive polysomnography test that involved an overnight stay in a hospital or sleep clinic connected to a tangle of wires, or in-home systems with high failure rates due to the accidental detachment of sensors during sleep.

Whereas, ApneaApp needs no instrumentation of the individual and can track a person’s breathing remotely from home.

After proving the effectiveness of her app, Rajalakshmi and the University of Washington licensed the innovation to ResMed, a leader in sleep technology and medical devices.

The technology was built into the new SleepScore app for Android and iOS that helps individuals to monitor their sleep quality.

“Rajalakshmi has a knack for selecting problems with high social impact,” said her advisor and associate professor at the university Shyam Gollakota on the occasion.

“What’s incredible is Rajalakshmi has innovated a technology that is like science fiction and has got it adopted by hundreds of people in the real world. It is rare for a graduate student to have such impact with even one application, and she is doing it time and again,” reiterated Gollakota.

Rajalakshmi’s latest work focuses on using sonar to detect opioid overdoses. About 100 people reportedly die daily in the US due to overdosing on opioids, making it a critical healthcare issue.

Deaths from overdose are preventable through timely detection and intervention. Rajalakshmi developed an app that people can download prior to engaging in high-risk behaviour that monitors breathing and other movements and automatically alerts emergency services or other help if these activities cease.

The application was also tested at a clinic in Vancouver, Canada, showing its ability to save many lives through early detection of the symptoms.

“Our Young Scholar award attracts the world’s brightest researchers. Rajalakshmi embodies the characteristics we seek – intellectual capability, entrepreneurial spirit and the vision to use her work to better humankind,” said Marconi Society’s Chairman Vincent Cerf.

(IANS)

40 killed as bus falls into gorge in Telangana

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In a ghastly tragedy, 40 people were killed and more than 20 others injured when a state-owned bus fell into a gorge in Telangana’s Jagtial district on Tuesday, police said

The bus belonging to the Telangana State Road Transport Corp (TSRTC) fell off Kondagattu Ghat Road while returning from Anjaneya Swamy temple atop Kondagattu Hills, about 190 km from Hyderabad.

The bus, carrying more than 60 passengers, met with the accident when the driver reportedly lost control at a speed breaker.

The dead include 20 women and seven children. The toll could go up as the condition of some of the injured was stated to be critical.

Senior officials rushed to the scene and launched rescue and relief operations.

The injured were shifted to a government-run hospital in Jagtial. A few critically injured were shifted to hospitals in Karimnagar and Hyderabad.

Chief Minister K. Chandrashekhar Rao expressed shock over the accident. He announced Rs 5 lakh ex-gratia each for the families of the dead

(IANS)

Global cues, inflationary risks subdue equity indices

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Broadly negative global cues subdued the key Indian equity indices during the pre-noon trade session on Tuesday.

According to analysts, investors feared that high petrol and diesel prices and a weak rupee would pump up the retail and wholesale inflation rates, thereby mitigating chances of a rate cut by the Reserve Bank of India in the near term.

Heavy selling pressure was witnessed in the consumer durable, FMCG, telecom and capital goods stocks.

On the currency front, the rupee traded over 72.30 against the US dollar around 11.35 a.m. at the Inter-Bank Foreign Exchange Market.

At 11.35 a.m., the wider Nifty50 on the National Stock Exchange, traded at 11,451.70 points, lower by 22.40 points or 0.20 per cent from its previous close.

The S&P BSE Sensex, which had opened at 38,017.49 points, traded at 37,846.75 points, lower by 75.42 points or 0.20 per cent than the previous close of 37,922.17 points.

So far, it has touched an intra-day high of 38,043.27 points and a low of 37,838.30 points.

On Monday, the Indian equity indices recorded their steepest fall in the last six months as expectations of a rise in inflationary pressure dented the risk-taking appetite of investors.

The NSE Nifty50 closed at 11,438.10 points, lower by 151 points or 1.30 per cent from its previous close of 11,589.10 points.

The S&P BSE Sensex, which had opened at 38,348.39 points, closed at 37,922.17 points, lower by 467.65 points or 1.22 per cent from the previous close of 38,389.82 points.

(IANS)

Central government transfers 30 officers

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The Union government on Monday effected a major reshuffle in the mid-level bureaucracy transferring as many as 30 officers, most of them IAS, in various ministries and departments.

The government transferred the officers among the ministries and departments of home affairs, commerce, agriculture, coal, telecommunication, environment and forest, health, food, heavy industry, road transport, Niti Aayog and rural development besides the cabinet secretariat.

(IANS)

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