Jaitley Allocates ₹246 Lakh Crore for Defence Sector

first_imgFinance Minister Arun Jaitley said the government will spend 2.46 trillion rupees ($40 billion) in the defence sector in 2015/16.In July 2014, while presenting the Narendra Modi government’s first budget, Jaitley said the defence sector would get an annual outlay of Rs.229,000 crore, around 1.8 percent of the gross domestic product.Prime Minister Narendra Modi had presented a vision statement under his ‘Make in India’ campaign where local manufacturers of defence equipment had an important role.”This year too, I have provided adequately for the needs of the armed forces. As against likely expenditure of this year of Rs 2,22,370 crore the Budget allocation for 2015-16 is Rs 2,46,727 crore,” Jaitley said in his budget speech.last_img read more

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FedEx to buy TNT for €44bn

first_imgClose FedEx has stepped up to the challenge of rivals UPS by agreeing to buy Dutch package delivery company TNT Express for €4.4bn (£3.2bn, $4.8bn).European regulators blocked a 2013 takeover of TNT by UPS due to concerns it would stifle competition, but analysts and executives said FedEx, with its strong air fleet, would complement TNTs sizeable European road network.In terms of FedEx, it significantly increases the reach of their European footprint. Its one of the reasons of course why FedEx is actually quite confident that unlike the UPS deal, this isnt likely to be blocked by Brussels. So it seems as though its a win-win situation, said BGC Partners analyst Mike Ingram.US-based FedEx is the latest company to seize on global, low interest rates — financing the TNT acquisition by borrowing to pay for it all.And certainly, the weaker euro and on the flipside, the strong dollar, has meant that European targets are more attractive to US investors and I think that FedEx/TNT is a very clear example of that, he added.Europe, despite the fact that there has been low growth, is still an enormous market both for import and export, FedEx Chief Executive Fred Smith told analysts.TNT gives FedEx access to pan-European services and the domestic UK and French markets, areas where it is not yet a big player, Smith said, while TNT customers will get access to FedExs global distribution platform.ING analysts estimate Deutsche Posts DHL currently has a 19 percent market share in Europe, followed by UPS with 16 percent, TNT with 12 percent and FedEx at 5 percent – meaning the deal could elevate FedEx up to second place.The deal, which was unanimously recommended by TNTs supervisory board and is expected to close next year, saw the Dutch companys share price jump by more than 30 per cent in early trading in Europe.last_img read more

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Majili box office collection day 3 ChaySam film crosses Rs 25 crore

first_imgNellore0.700.40 Vizag1.981.94 Rest Of India1.501.85 Ceeded2.501.77 Guntur1.621.24 Krishna1.281.01 G West1.120.64  Overseas3.002.25center_img AP/TS Total16.6413.25 G East1.440.90 Nizam6.005.35 AreaRightsEarnings Majili first weekend box office collectionTwitterMajili  made a fantastic collection at the worldwide box office in the first weekend. The Naga Chaitanya and Samantha Akkineni starrer has inched closer to Rs 30 crore gross mark in three days.Riding on huge hype, Majili was released in a large number of cinema halls on April 5 and made a superb debut at the ticket counters across the globe. The film collected Rs 11.50 crore gross at the worldwide box office on the first day. The movie became the biggest opener for Naga Chaitanya, smashing the records of Savyasachi and Shialaja Reddy Alludu, which minted Rs 7.70 crore and Rs 11.40 crore.Majili was successful in striking the chord with most of the filmgoers and meeting the expectations that it had generated before its release. Many viewers heaped praises upon director Shiva Nirvana, actors and technicians of the film. What has stunned them the most is the amazing chemistry between Naga Chaitanya and Samantha Akkineni, who are fondly known as ChaySam. Naga Chaitanya and Samantha Akkineni in MajiliTwitterA good word of mouth helped it hold very strong at the ticket counters on Saturday and Sunday and its collection on both theses was on par with its opening day business. Majili has collected approximately Rs 28.18 crore gross at the worldwide box office in the first weekend and it is the highest amount for a film starring Naga Chaitanya. Naga Chaitanya and Divyansha Kaushik in MajiliTwitterMade on budget of around Rs 20 crore, Majili fetched Rs 21.14 crore for its producers from the sale of its theatrical rights. The movie has earned Rs 17.35 crore for its distributors in three days. The film has recovered 82.07 percent of the investment to its distributors in its opening weekend. It is expected return the remaining amount on the weekdays.Here are the details of the price of its area-wise theatrical rights and earning of Majili these numbers are based on various sources and they may not match with the actual ones. All the figures are in rupees and crore.AreaAreaRightsRightsEarningsEarningsAreaNizamRights6.00Earnings5.35AreaCeededRights2.50Earnings1.77AreaVizagRights1.98Earnings1.94AreaG EastRights1.44Earnings0.90AreaG WestRights1.12Earnings0.64AreaKrishnaRights1.28Earnings1.01AreaGunturRights1.62Earnings1.24AreaNelloreRights0.70Earnings0.40AreaAP/TS TotalRights16.64Earnings13.25AreaRest Of IndiaRights1.50Earnings1.85Area OverseasRights3.00Earnings2.25AreaGlobal Total Rights21.14Earnings17.35 Global Total 21.1417.35last_img read more

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Twitch has a serious problem no ones talking about

first_imgClose Twitch Streamer Black/Graphist Accused Of Sexual Misconduct Channels garnering followers through ‘bots’ are becoming common now. Recently, the fastest growing channels on Twitch, the leading live-streaming platform for gamers, were overtaken by one such bot-run channel. Surfacing on April 9, the now-banned 01sh01 streamed for 14 minutes promoting an online casino called SlotV and amassed huge followers in the shortest span of time.Casinos are not hugely popular on Twitch, and amassing 5,69,067 followers in a single stream with only had 3,223 views is a bit odd. The channel overtook Michael ‘shroud’ Grzesiek and Turner ‘Tfue’ Tenney, two of the biggest channels on the platform, in terms of growth.Shroud is a former Counter-Strike: Global Offensive champion whose popularity has been growing even faster since the release of the first-person battle-royale game, Apex: Legends.As is now clear, the 01sh01 channel was using bots to increase the number of followers and advertise a casino. This is just one in several such attacks on the popular live-streaming website. Last month another casino advertising channel, Novat0r_Konb, beat Shroud to gain the top spot with 4,87,419 followers from just 2,652 views. It was also subsequently banned. Twitch metrics for fastest growing accountsTwitch MetricsBots are a serious problem for Twitch and its partners. Often subscription gifts like stickers and badges offered for legitimate followers get received by these bots too. Twitch has an official page with details on botting and how to deal with them, advising users to not feed online trolls and providing an option to report them for botting.Shroud has been quite vocal previously about bots bringing viewership. He usually condemns bots, but in a stream in February this year, he said that bots may be the reason behind his success with Apex: Legends. “11pm, 2am, 3am – there are a hundred thousand people just hanging out. Like, I don’t even believe it is real. I believe it is being botted. Someone out there I believe is botting something. I just don’t believe it is real, personally. But, okay I’ll take it,” Shroud said. Employees work at the offices of Twitch Interactive Inc, a social video platform and gaming community owned by Amazon, in San Francisco, California, U.S., March 6, 2017.Reuters fileTwitch is host to a multitude of streamers who play a variety of games including League of Legends, Fortnite, GTA V and PUBG among others. Bots are difficult to track for moderators if they operate on lower scales.Meanwhile, the new list of free games offered to Twitch Prime members is out. Whispering Willows, Stealth Bastard Deluxe, The Little Acre, Majesty 1, and Majesty 2 will be available for free from the 1st of May. Prime members have till 30 April to grab Her Story, InnerSpace, Joggernauts, and Keep in Mind.last_img read more

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Bank pharma stocks lead rally as Sensex jumps 278 points

first_imgIndian stock markets extended their gains on Friday, led by banking and pharma stocks. The S&P BSE Sensex closed at 24,616.97, up 278 points, or 1.14 percent, while the broad-based NSE Nifty settled at 7,489.10, with a gain of 85 points, or 1.15 percent.The Sensex soared by 334 points to touch an intraday high of 24,672, but shed gains in the closing hours. The rally was predominantly led by bank and pharma stocks.Lupin Pharma was the biggest Sensex gainer after the company declared a better-than-expected third quarter results. Net profit was Rs 530 crore, down 11.82 percent from Rs 601 crore in the year-ago period, while net sales inched 6 percent higher to Rs 3,358 crore, from Rs 3, 145 crore in the third quarter last fiscal. Lupin shares jumped almost 10 percent intraday to end the day at Rs 1,801.45.  Other top Sensex gainers included Axis Bank (up 4.40 percent), Cipla (up 3.58 percent), and Tata Steel (up 3.47 percent).Tata Steel gained despite posting a consolidated loss of Rs 2,127 crore for the third quarter ended December 2015, as against a net profit of Rs 157 crore in the year-ago period. Net sales dropped by almost 16 percent to Rs.28,039 crore from Rs.33,323.8 crore in the corresponding quarter last fiscal.Other Sensex gainers included Tata Motors, Dr Reddy’s Labs, State Bank of India, Sun Pharma, ICICI Bank and Hero Motocorp.Stocks that ended in the red included GAIL (India), Maruti Suzuki and Adani Ports.On the Nifty, Cipla, Piramal Enterprises, Aurobindo Pharma, Glaxo, Sun Pharma and Glenmark ended with some big gains.last_img read more

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Massive clash breaks out in UPs Jaunpur after man wipes shoes with

first_imgUP Police resorted to lathi-charge to disperse the mob.Representational image | IANSA major clash broke out at a polling booth on Sunday morning in Uttar Pradesh’s Jaunpur when BJP supporters saw a man wiping his shoes with their party flag. According to reports, a party flag was lying near a tree when the man picked it up and wiped his shoes with it. A BJP supporter saw this and hurled abuses at the man.As the BJP supporters came together to beat up the man, others joined and the police resorted to lathi-charge to disperse the mob that had collected there.Polling was not disrupted at the polling station. Uttar Pradesh is conducting its polls in seven phases. 14 constituencies are going to the polls in the sixth phase of the general elections.The Uttar Pradesh constituencies that are going to the polls are Sultanpur, Pratapgarh, Phulpur, Allahabad, Ambedkar Nagar, Shrawasti, Domariyaganj, Basti, Sant Kabir Nagar, Lalganj, Azamgarh, Jaunpur, Machhlishahr, and Bhadohi.The Bharatiya Janata Party won 13 of these 14 constituencies in the 2014 Lok Sabha elections. The only exception was Azamgarh, won then by SP founder Mulayam Singh Yadav.(With inputs from agencies)last_img read more

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Saudi Arabia to not execute teenager arrested for taking part in antigovt

first_imgMurtaja Qureiris was 13-years-old when he was arrested for participating in anti-government protests.CNNA young man from Saudi Arabia who was arrested when he was 13-years-old for participating in an anti-government protest will not be executed and could be released by 2022, officials have confirmed.The man, identified as Murtaja Quereris, was arrested by the Saudi officials back in September 2014. He was granted an initial 12 year jail term, which includes time served in prison since his arrest. After four years of probation, he is currently left with three years of prison term left to serve, sources revealed to Reuters.As a child, Quereris was sent to the detention centre for participating in bike protests in Saudi Arabia’s Eastern Province during the Arab Spring uprising in 2011. He was later moved to al-Mabaheth prison in May 2017, an adult facility, even though he was still only 16 years old.The charges held against him include participating in anti-government protests, attending the funeral of his brother, Ali Qureiris (killed in a protest in 2011), joining a “terrorist organisation,” throwing Molotov cocktails at a police station and firing at security forces.Qureiris case caught international attention after CNN did an investigative piece the teenager boy who was facing death penalty by the Saudi government. The report and later human rights group, Amnesty International highlighted the issue of state-sponsored anti-dissent executions of those who participated in anti-government rallies in Saudi Arabia.It is argued that Qureiris’ case is part of the government’s crackdown of Shi’a minorities and political dissenters since the Crown prince Muhammad bin Salman took over the throne in 2015.In April, officials had carried out the execution of two minors including Abdulkareem al-Hawaj, a Shi’a boy who was arrested when he was 16-years old based on offences related to involvement in anti-government protests. He was among 37 men put to death in one day as part of an execution spree. Most of the executed men belonged to the Shi’a community.According to the Interior Ministry, Saudi Arabia executed 139 people in 2018.last_img read more

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USChina trade war Trump to discuss Huawei issue with Xi at G20

first_imgUS President Donald Trump and Chinese President Xi JingpingIANSUS President Donald Trump said he would be discussing American actions toward Huawei Technologies Co. when he meets his Chinese counterpart Xi Jinping on Saturday in a session that will include a possible trade deal.The President added, during a morning meeting with Saudi Arabian Crown Prince Mohammed bin Salman, that he had already met once Xi once already on the sidelines of the ongoing G20 summit in Osaka, reports Efe news.”A lot was accomplished actually last night,” Trump said.Chinese officials have said that reversing the technology ban on the Chinese tech giant was their top priority in trade negotiations.But the US has been reluctant to mix what is seen as a national-security issue – whether Huawei equipment can be used for Chinese espionage – with trade matters.One possibility, said people familiar with the administration’s thinking, is that the US could drop extradition proceedings against Huawei Chief Financial Officer Meng Wanzhou as a part of a package deal.Such a move is bound to provoke an uproar among Republican and Democratic lawmakers who advocate a stricter stance toward China.”The relationship is very good with China,” the US President said.”As to whether or not we can make a deal, time will tell. But the relationship itself is really good… We have a very good friendship, a very, very good friendship.”last_img read more

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Allu Arjuns ICON to have this Delhi beauty as the leading lady

first_imgAllu Arjun’s next movie IconTwitterActress Rasshi Khanna is currently busy shooting for Venky Mama and for this film, she pairs up with Naga Chaitanya, for the first time. Venky Mama also has Daggubati Venkatesh and Payal Rajput, and is directed by Bobby. Suresh Babu is producing this film under Suresh Productions.Raashi was recently seen in Ayogya, the Tamil remake of Telugu film Temper, and she has received applauds for her role in Imaikka Nodigal. In Telugu, she was last seen in Srinivasa Kalyanam, but this film failed to do well at the box office.As per the latest update, we have learnt that the actress has been roped in to play the leading lady in Allu Arjun’s next film which will be directed by Sriram Venu. Titled ICON Kanabdutaledhu, this film is said to be a love story with twists. “Raashi Khanna has been in talks with the producer Dil Raju. Srinivasa Kalyanam was also produced under the same banner and makers think that Raashi can do the role really well. The actress has been impressed with the script and said to have given her nod,” a source from the production house told International Business Times.This film will mark Raashi’s first ever collaboration with Allu Arjun.  TwitterSriram Venu directed Oh My Friend and Middle Class Abbayi and both the films have done really well at the box office. So with Allu Arjun teaming up with him, expectations on the film are high.On the work front, Allu Arjun has begun dubbing for Trivikram’s directorial and after wrapping up this film, he will begin shooting for Sukumar’s film. So ICON Kanabadutaledhu is expected to get launched and go on the floors next year only. An official confirmation from the producers of the film is awaited.last_img read more

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After SBI and Vijaya Bank Bank of India to raise Rs 500

first_imgBank of India, Khairachatar branch.wikimedia commonsIn need of more capital, state-owned Bank of India (BoI) plans to raise Rs 500 crore through a qualified institutional placement (QIP), a senior official aware of the development told Mint.”We are well capitalised right now; the fundraising will be just for replenishment of capital. We will be raising about Rs 500 crore in the next quarter,” the business daily quoted Dinabandhu Mohapatra, managing director and chief executive of BoI, as saying.Currently, the lender is in the process of finalising investment banks for the issue. As on June 30, capital adequacy of the bank stood at 12.38 percent, against Basel-III requirements of 9 percent. For the same period, BoI’s gross non-performing assets stood at 13.05 percent.To shore up their capital many public sector banks (PSB) are looking at raising funds from the market.In June this year, State Bank of India (SBI) raised Rs 15,000 crore via QIP, the biggest so far by any bank in the country. Later in August, another PSB Vijaya Bank raised Rs 700 crore using a similar instrument.”Investor appetite for QIPs of weak public sector banks could be decent with participation from large domestic institutional investors. Measures being taken by the PSBs to bolster their capital levels by divesting non-core assets and realigning risk-weighted assets should help in the interim till the government finalises it’s capitalization plans for PSBs,” Mint quoted Karthik Srinivasan, group head for financial sector ratings at ICRA as saying.The state-owned lenders are reeling under bad loans. Total bad loans in the banking sector are close to Rs 10 lakh crore and banks are in dire need of capital infusion to continue operations.If banks raise funds from the market, government will get a breather. The government, under the Indradhanush plan announced in August 2015, has committed Rs 70,000 crore to recapitalisation of PSBs.As per the Indradhanush roadmap, public sector banks need to raise about Rs 1.10 lakh crore (Rs 1.1 trillion) from markets, including the follow-on public offer to meet Basel III requirements which kick in from March 2019. This will be over and above the Rs 70,000 crore that banks will get as capital support from the government.In line with the Centre’s Indradhanush plan for recapitalisation of banks, the government announced the infusion of Rs 10,000 crore into state-owned banks in 2017-18 and 2018-19.”Improved valuations, coupled with value unlocking from non-core assets as well as improvements in capital productivity, will enable PSBs to raise the remaining Rs 110,000 crore from the market,” the finance ministry had said in a press note on Indradhanush.Last week, rating agency Fitch Ratings said that Indian banks will need additional capital of $65 billion to meet the remaining Basel III banking stipulations by March 2019, with state-run lenders accounting for 95 percent of the requirements.last_img read more

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