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You are here: Home / Archives for Business & Technology

Kerala needs Rs 31,000 crore post floods: UN report

October 26, 2018 by Nasheman

Kerala will need about Rs 31,000 crore for recovery and reconstruction following the century’s worst floods, according to a UN report presented to the Chief Minister by UN Resident Coordinator in India Yuri Afanasiev.

Afanasiev presented the Post Disaster Needs Assessment (PDNA) report to Chief Minister Pinarayi Vijayan here on Friday. This is the first time the UN has prepared such a report in India.

The report assessed the damage and loss incurred due to the devastating floods in the state in August. It said the state would need about Rs 31,000 crore for recovery and reconstruction.

The highest amount would be needed for reconstruction of roads and transportation (Rs 10,046 crore), followed by housing (Rs 5,443 crore), agriculture, fisheries and livestock (Rs 4,498 crore), employment and livelihood (Rs 3,896 crore), other infrastructure (Rs 2,446 crore), irrigation (Rs 1,483 crore) and water and sanitation (Rs 1,331 crore).

The report highlighted the international examples and models for building back a better Kerala in 16 sectors.

It suggested that Kerala could become the first green state in the country by building on the four pillars of integrated water resources management; eco-sensitive and risk informed approaches to land use and planning; inclusive and people centred approaches; and by adopting knowledge, innovation and technology.

Chief Minister Vijayan thanked the UN for providing support to the state for flood response and developing the PDNA. He sought UN technical support in developing sectoral recovery plans, bringing international models and new technologies to Kerala and in strengthening the recovery committees with experts.

The Chief Minister sought UN support for mobilizing resources for the state within and outside the country.

Kerala Finance Minister Thomas Issac thanked the UN for its assistance in mobilizing grants for reconstruction. “This would reduce the amount of borrowing.”

The PDNA is the global methodology developed by the UN, the World Bank and the European Union to assess damage and loss in the wake of disaster and to recommend the recovery needs and strategies.

In all, 76 experts from 10 UN agencies and EU across 13 sectors collaborated to develop the report in 20 days.

The UN agencies included UNDP, UNICEF, UNESCO, UN Women, UNFPA, UNEP, WHO, WFP, ILO and FAO and adopted reports of three sectors from World Bank and ADB.

Besides, two experts on integrated water resources management from the Netherlands also provided support.

The report was prepared after visiting 120 villages in 10 districts and interacting with experts, affected people, elected representatives, officials and representatives of civil society organisations.

IANS

Filed Under: Business & Technology

Indian nuclear reactor at Kaiga sets world record

October 26, 2018 by Nasheman


Chennai, Oct 25 (IANS) The 220 MW atomic power reactor in Unit 1 at Kaiga in Karnataka set a world record among Pressurised Heavy Water Reactors (PHWR) by running continuously for 895 days, Nuclear Power Corporation of India Ltd (NPCIL) has said.

In a statement NPCIL said the Unit 1 in Kaiga stands first among PHWRs and second in terms of all kinds of nuclear reactors in terms of continuous operation.

The indigenous reactor powered by domestic fuel has been operating continuously since May 16, 2016.

It started commercial operation on November 16, 2000.

According to NPCIL, Indian nuclear reactors have demonstrated continuous operation for long periods exceeding a year 28 times so far.

Three reactors – Kaiga Unit 1 (895 days), Unit 3 at Rajasthan Atomic Power Station (RAPS – 777 days) and UnitA at RAPS (765 days)- have operated continuously for more than two years, NPCIL said.

IANS

Filed Under: Business & Technology

Key equity indices open in red

October 26, 2018 by Nasheman


The 30-scrip S&P BSE Sensex on Friday opened in the negative territory taking cues from its Asian peers.

Heavy selling pressure was witnessed in finance, banking and metal counters.

The Sensex of the BSE opened at 33,776.80 from its previous close at 33,690.09 on Wednesday.

At 9.20 a.m., the Sensex traded at 33,553.39 down by 136.70 points or 0.41 per cent.

The Nifty of the National Stock Exchange (NSE) opened at 10,122.35 after closing at 10,124.90.

The Nifty traded at 10,072 during the morning trade session, down 52.90 points or 0.52 per cent.

Yes Bank lost over six per cent on Friday after the private lender reported a decline of 3.7 per cent in its net profit for the quarter ended September.

IANS

Filed Under: Business & Technology

Ericsson rolls out export of 5G-ready telecom equipment

October 25, 2018 by Nasheman


In line with the “Make in India” programme, Swedish communication services giant Ericsson on Thursday commenced the export of 5G-ready telecom equipment from its manufacturing facility in Pune, Maharashtra, to markets in Southeast Asia.

The initial shipments consisting of Ericsson’s 5G-ready radio base stations and microwave equipment for 2G, 3G and 4G technologies have been delivered to Indonesia, Singapore and Thailand, the company announced at the India Mobile Congress 2018, here.

Ericsson is looking to add more Southeast Asian markets to its list of countries to which its facility in India exports products from the Ericsson Radio System portfolio.

“Ericsson has been in India for well over 100 years and we were the first company to start manufacturing telecom equipment in the country in 1994. Our state-of-the-art facility will continue to cater to the domestic market even as we commence exports to other markets in Southeast Asia,” Nunzio Mirtillo, Head of Ericsson South East Asia, Oceania and India, said in a statement.

In 2016, Ericsson had set up a manufacturing facility in Chakan, Pune, with an initial investment of $20 million.

This facility has been catering to the domestic demand so far and the company plans to ramp up capacity once the export volumes pick up.

Ericsson also partnered with Bharti Airtel (Airtel) to showcase the power of 5G network by demonstrating Beyond Visual Line of Sight (BVLOS) drone operations.

The use cases leveraged the high bandwidth and the ultra-low latency of the 5G network to showcase mission-critical applications such as disaster response and monitoring, emergency delivery services and remote surveillance made possible through drones, the company said.

“5G networks have the potential to truly transform lives. As part of our endeavour to leverage technology that truly adds value to our lives and the society, we are pleased to demonstrate this powerful use case,” said Randeep Sekhon, CTO – Bharti Airtel, in the statement.

“Large scale deployment of 5G networks over the coming years will open unlimited avenues for innovating use cases that can solve complex problems,” Sekhon noted.

IANS

Filed Under: Business & Technology

I-T Department seizes Rs 37 lakh, jewellery from Delhi Minister

October 25, 2018 by Nasheman

The Income Tax (I-T) Department said on Thursday it has seized Rs 37 lakh in cash and jewellery worth about Rs 2 crore from Delhi Minister Kailash Gahlot and his family members.

“We have recovered cash worth Rs 37 lakh and jewellery of about Rs 2 crore from the residence and business premises of Gahlot and his family members during the raids conducted in the second week of this month,” Department spokesperson Subhi Ahluwalia told IANS.

However, an I-T official, requesting anonymity, said that additional jewellery worth Rs 28 lakh was also seized from a bank locker in the names of Gahlot and his wife.

The Department had conducted raids at 16 business and residential premises of Gahlot and his family members related to two companies — Brisk Infrastructure and Developer Pvt Ltd and Corporate International Financial Services Pvt Ltd over tax evasion allegations.

The raids too place in Vasant Kunj, Paschim Vihar, Najafgarh and Gurugram.

I-T officials had earlier claimed that it they found documents showing the Delhi Cabinet Minister evaded Rs 120 crore in taxes.

The documents recovered from the Minister’s premises showed office boys, peons and other employees to have been extended loans and to be holding equity worth Rs 70 crore in several “shell” companies.

Gahlot holds the portfolios of Transport, Law, Revenue, Information Technology and Administrative Reforms in the Delhi Cabinet.

IANS

Filed Under: Business & Technology

Kerala MLAs’ Rs 80 cr apartment rebuilding comes under fire

October 24, 2018 by Nasheman

As Kerala continues to seek funds to rebuild the state in the aftermath of the worst disaster it faced in a century, a proposed Rs 80 crore apartment complex for state legislators, has come under fire.

The proposed plan is to demolish an old building in the Legislators Complex located in the heart of the capital city and build a multi-storeyed housing complex in its place.

Senior Congress leader and former Kerala Speaker V.M.Sudheeran said while there was no doubt that legislators should get facilities to improve their efficiency, the timing of going ahead with the multi crore project was “shocking”.

“At the state’s worst ever crisis, after the floods brought in untold miseries and sufferings, the entire efforts and funds should be diverted to rebuild our state, as thousands of people are suffering.

“I will not say this project should be shelved, but it should not happen now,” Sudheeran told the media here.

According to estimates the floods that ravaged the state has caused a destruction of over Rs 40,000 crore and the Pinarayi Vijayan government has given a clarion call to all to contribute one month’s salary for rebuilding operations.

This apartment rebuilding proposal was mooted during the previous Oommen Chandy government, and the Vijayan government has taken it forward.

Academic and former chairman of the Kerala State Finance Commission B.A. Prakash told the media when the state was reeling for want of funds it was not right for an elected government to go ahead with this project at this time.

“In the larger interest of the state, especially when the urgency is to rebuild the state in the aftermath of the floods, the legislators can wait for some time,” said Prakash.

Following the media taking it up, Kerala Assembly Speaker P. Sreeramakrishnan has asked the concerned authorities to go slow with the project.

Filed Under: Business & Technology

Facebook introduces simplified version of Messenger

October 24, 2018 by Nasheman

In a move to declutter Messenger, Facebook has started rolling out a new version of the text and video chap app — Messenger 4 that brings down the number of tabs from nine to three.

“Messenger 4 will gradually roll out globally over the coming weeks,” Stan Chudnovsky, Vice President of Messenger, said in a statement on Tuesday.

The “Chats” tab includes the conversations — both one-to-one and groups. Messenger 4 will have visual communication features like camera at the top so that users can easily capture and share selfies.

Tapping into Messenger 4’s “People” tab will help its 1.3 billion monthly users find friends, catch up on people’s Stories, and see everyone who is active at that time.

Then it has the “Discover” tab, where one can connect with businesses to get the latest deals, play games, book their next vacation, follow the news and more.

“Messenger 4 has another way to personalise your conversations with a small but delightful update to chat customisations called colour gradients. With this feature, you can now use multiple colours to customise your chat bubbles in conversations,” Chudnovsky said.

To help users get used to changes, Facebook said it would roll out Messenger 4 in phases.

“We have a handful of new features we’re planning to introduce in the near future, like Dark Mode, a re-skinned interface that cuts down on the glare from your phone,” Chudnovsky said

IANS

Filed Under: Business & Technology

Markets open on high note

October 24, 2018 by Nasheman


The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE opened at 34,203.70 points, touched a high of 34.300.97 and a low of 34,164.60 after closing on Tuesday at 33,847.23 points.

The Sensex is trading at 34,213.15 points up by 365.92 points or 1.08 per cent.

On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 10,278.15 points after closing at 10,16.80 points on Tuesday.

The Nifty is trading at 10,272.20 points in the morning.

Filed Under: Business & Technology

Nokia, BSNL to explore public safety initiatives in India

October 23, 2018 by Nasheman

Telecom equipment maker Nokia and public sector telecom operator Bharat Sanchar Nigam Limited (BSNL) on Tuesday signed a Memorandum of Understanding (MoU) to jointly explore opportunities in the public safety arena in the country.

Under the agreement, Nokia will become BSNL’s Original Equipment Manufacturer (OEM) technology partner for public safety projects.

The collaboration will assist in advancing public safety standards in the country and supports the government’s Smart Cities Mission.

“As a trusted telecom service provider, BSNL is committed to providing the best technology solutions for public safety professionals. Our technology partnership with Nokia is a crucial step in this direction,” Anupam Srivastava, Chairman and Managing Director at BSNL, said in a statement.

A reliable and robust LTE public safety system is often critical during disaster situations as it can aid public safety workers in relief and rescue efforts.

Leveraging the Nokia ViTrust critical communications portfolio, in particular, the Nokia Ultra Compact Network, Nokia and BSNL will explore solutions that help first responders to more swiftly locate people and assist affected communities, the statement said.

The Nokia Ultra Compact Network (UCN) is a portable solution that allows first responders to set up a reliable mission-critical mobile broadband network in minutes.

By establishing a LTE network, the first responders can securely transmit large images and videos in real-time to other workers and command centres, providing vital insight into a situation to aid public safety and rescue efforts.

“This is the first time our public safety solution will be used in India, and we are excited to leverage our ViTrust critical communications portfolio, working with BSNL to enhance public safety work and aid vital rescue operations,” said J.P. Singh, head of Nokia’s customer team for government business in India.

Nokia and BSNL will also explore public safety opportunities for various industry segments including Smart City deployment, border-related activities and mines and quarries in remote areas with limited connectivity.

In addition, they will establish a mission-critical government network, allowing ministers and other officials to communicate securely across the country.

The companies will also work with the National Disaster Response Force (NDRF) to help them leverage the benefits of LTE technology in public safety communications systems.

 

IANS

Filed Under: Business & Technology

Excise dept sends proposal for online sale of alcohal

October 23, 2018 by Nasheman


Early in September, the Karnataka government had decided to stop the online sale of liquor. The government had also issued notices to popular concierge app Dunzo, after which home delivery of alcohol was stopped. However, the state government seems to be making a U-turn and is now mulling allowing online sale of alcohol.

Speaking to media, Rajendra Prasad, Additional Commissioner of Excise (Indian Made Liquor) said that CM HD Kumaraswamy is said to meet with the representatives of the Federation of Wine Merchants Association, Karnataka, soon. “The Excise Department has formulated a proposal to allow the sale of liquor online. This was sent to the Finance Department for approval. The proposal has moved from there and is awaiting cabinet approval. The CM will hold talks with the Wine Merchants’ Association because they are opposing this proposal,” he added.

A source in the Excise Department said, “We are planning to levy a certain percent of excise duty for online liquor sale. But there is some opposition from owners of retail outlets which sell alcohol.”

Govindraj Hegde, President of the Federation of Wine Merchants Association, Karnataka, termed the state government’s proposal as “dangerous on many levels” and says that the association strongly opposes such a proposal.

“The proposal will have adverse effects. The government has not been able to curb the sale of drugs to children. If online sale of alcohol comes into effect, how will they curb underage drinking? Another big problem is that it will be dangerous for the income of wine merchants. Those selling liquor online will get the liquor at cheaper rates. This will bring down business at retail outlets, and those who are in possession of the CL 7 and CL 4 liquor licences,” he added.

A source in the Excise Department say that the state government is planning to allow online sale of liquor in order to make up for revenue which was lost due to farm loan waiver.

“When HD Kumaraswamy became the Chief Minister of Karnataka, he promised to waive over Rs 50,000 crore worth of farm loans. With this, the government had to look for other venues to obtain revenues. The Excise Department officials were told to come up with schemes to generate more revenue, and now the officials are mulling allowing online sale of liquor,” the source said.

The Excise Department had come down heavily on internet-based alcohol delivery systems in September this year. “We had not created a license for online delivery of liquor and they are not legal currently. If the new proposal gets approved, we will be able to ensure that all of it is done legally,” Rajendra Prasad added.

However, Chief Minister HD Kumaraswamy on Tuesday said that the proposal he has not received the proposal yet. “Regarding the online sale of liquor, I have not received any proposal till now,” he told the media.

TNM

Filed Under: Business & Technology

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