PEOPLE NEWS: May 2019

Friday, May 31, 2019

World Cup: India play paintball ahead of SA opener

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Australia launch World Cup campaign against Afghanistan

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Booing: A different challenge

Focus will be on Smith and Warner as Australia open their World Cup campaign against Afghanistan today.

from Sports-News-Economic Times http://bit.ly/2HOmeSK

China, Pakistan, reforms: New def min Rajnath has his plate full

As the country’s new ‘Raksha Mantri’, Singh will have his plate full. The myriad challenges range from tackling the collusive threat from China and Pakistan to bolstering India’s fledgling defence-industrial base to get out of the strategically-vulnerable position of being the world’s largest arms importer.

from Times of India http://bit.ly/2QyXKj4

Flipkart Flipstart Days Sale Kicks Off, Here are the Best Tech Deals

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New Zealand begin World Cup charge against Sri Lanka

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Champions League final: A Neutral's Nightmare

Tottenham were against an Ajax team which was bringing back memories of their 1995 season.

from Sports-News-Economic Times http://bit.ly/2wwHtCc

Modi 2.0 makes Amit Shah the second most powerful man in India

The composition of the council of ministers of the National Democratic Alliance government and the allocation of portfolios bears the imprimatur of Prime Minister Narendra Modi, who has brought in fresh talent on his terms, rewarded performance, and sought to achieve the right political balance without compromising on key target areas.The Prime Minister’s Office (PMO) will be the central driving force and with party president Amit Shah being inducted in the Cabinet, the concentration of power will be firmly with the government, according to people familiar with the ministry-formation process. Nirmala Sitharaman was made finance minister in place of Arun Jaitley, who opted to stay out of the government due to health issues.Just as Modi had prevailed in making Shah, his trusted lieutenant, the Bharatiya Janata Party chief in 2014 despite reservations in some quarters that both the PM and the party chief should not be from the same state, he has now virtually made Shah the next most powerful minister by giving him home ministry.Rajnath Singh, who made way for Shah to become BJP chief in 2014, was moved to the defence ministry. He, however, will officially retain the number two status in the seniority list.Shah has had a brilliant run as BJP president, delivering a string of electoral victories and capping it with the stupendous victory in the Lok Sabha elections.The induction of former foreign secretary S Jaishankar as external affairs minister after Sushma Swaraj bowed out due to health issues conveys that the PM was not bogged down by fear of controversy in making a bold move aimed at shoring up India’s global profile.Modi has rewarded those he considered ‘performing ministers’, such as Nitin Gadkari, Piyush Goyal, Dharmendra Pradhan, Ravi Shankar Prasad, RK Singh and Hardeep Puri by retaining them in their earlier ministries, and giving additional responsibilities to some. This will help maintain continuity in projects being implemented by these departments.PMO to Exercise Strong OversightGadkari’s work in the roads and highways ministry was appreciated even by the Opposition.Pradhan has been put at the helm of the steel ministry this time, in addition to petroleum & natural gas. This ministry is to Odisha what railways has been for Bihar — with even Naveen Patnaik handling it during his short stint in the Atal Bihari Vajpayee government before he became the state’s chief minister. The Ujjwala scheme run by the petroleum ministry under Pradhan proved to be a big vote-catcher for the BJP in the recent Lok Sabha polls.Goyal will continue in railways to oversee completion of projects initiated during the previous government. He has also got the important commerce & industry portfolio, where Suresh Prabhu failed to deliver.The Prime Minister has given chemicals & fertilisers to DV Sadananda Gowda. The ministry was earlier handled by another Karnataka leader, the late Ananth Kumar. The parliamentary affairs ministry has been handed to Pralhad Joshi, another senior leader from Karnataka. Perhaps, the intent is to not just use his parliamentary experience but also reach out to political parties down south — where BJP is not strong — for support in Parliament.Though some of the ministers have reportedly been inducted at the insistence of the Rashtriya Swayamsevak Sangh, they by and large qualify on the basis of their record as well. Since the PMO will exercise strong oversight and all major decisions will bear its stamp, talent deficit in some of the ministers is not likely to be a handicap, sources said.Modi has also dealt with NDA partners on BJP’s terms. The Shiv Sena took up BJP’s offer in terms of the ministries on offer but the JDU did not. That offer, sources said, still stands. However, while forming the council of ministers, Modi dropped Anupriya Patel (Apna Dal), and retained the portfolios of allies.

from Economic Times http://bit.ly/2JO5Nbj

Deloitte, KPMG now in IL&FS firing line

Mumbai: The Ministry of Corporate Affairs has authorised its regional unit to initiate proceedings against nine auditors and audit partners including BSR Co. and Deloitte Haskins & Sells (DHS) and bar them after they were charged with colluding with the management of IL&FS Financial Services and fraudulently falsifying its books of accounts.The ministry asked its regional director (western region) to include the auditors in the ongoing proceedings before the National Company Law Tribunal by making them co-respondents and seek interim attachment of their properties.The regional director is authorised to initiate proceedings under section 140 (5) of the Companies Act before NCLT against DHS, BSR, Udayan Sen, Kalpesh Mehta, Sampath Ganesh, Shrenik Baid, Rakesh Jain, Nishit Udani, Anju Rawat, Payal Rathod, AP Shah and AP Shah and Associates “for their role in perpetuating the fraud and seek debarment,” the ministry said in an order dated May 29.The regional director was told to include the auditors in the proceedings under sections 241 and 242 of the Companies Act pending before the NCLT and seek interim attachment of their movable and immovable properties, “including lockers, bank accounts and jointly held properties.”The Serious Fraud Investigation Office, which filed charges against the auditors in the probe into Infrastructure Leasing and Financial Services, has been directed to initiate disciplinary proceedings against them before the Institute of Chartered Accountants of India and the National Financial Reporting Authority.The SFIO filed charges against 30 individuals and entities, including the statutory auditors and audit partners, with fraud under section 447 of the Companies Act and sections pertaining to cheating under the Indian Penal Code.The SFIO alleged that the auditors “connived, colluded with the coterie” to conceal material information and fraudulently falsified the books of accounts and thereby financial statements from FY13-14 to FY17-18. It said they “knowingly did not report the true state of affairs of the company,” particularly the negative net owned funds and the negative capital to risk asset ratio, which resulted in losses for those who invested in its non-convertible debentures.

from Economic Times http://bit.ly/2QFoL4r

Sitharaman has the toughest job in India

Nirmala Sitharaman made history by becoming India’s first full-time woman finance minister, succeeding Arun Jaitley and capping a meteoric rise in the decade since becoming a member of the BJP. Indira Gandhi had previously held the finance portfolio when she was prime minister. Sitharaman, who was defence minister in the previous Narendra Modi government, will also be in charge of corporate affairs, a portfolio she has held before.She was soon reminded of the immediate task awaiting her — official data released on Friday showed GDP growth at a fiveyear low of 6.8% in the year ended March. There is growing concern about plummeting demand, lack of investment recovery and tepid employment generation, accentuated by the liquidity woes afflicting the nonbanking finance companies (NBFC) sector.Sitharaman, 59, has a hectic six weeks ahead of her as she and her staff embark on preparing the first full budget of the new Modi government, to be presented on July 5, which is expected to announce measures to get the economy back on track as well as deliver on poll promises, along with tax cuts indicated in the interim budget. The budget will also be the government’s first big statement of vision, reflecting the scale of its ambitions for the next five years.With GST revenues still stabilising and direct taxes collections remaining subdued, she will need to strike a balance on the fiscal deficit front even as spending pressure rises.At the first Cabinet meeting on Friday, the government announced the extension of the PMKISAN income support scheme to all farmers. Much of industry’s hopes are riding on the minister’s economic agenda — India Inc expects the government to provide some stimulus to address growth concerns.On her first day after taking charge, Sitharaman met all key officials in the ministry before heading for the Cabinet meeting chaired by PM Modi.“After assuming charge, the minister was briefed on key initiatives and policy issues by the secretaries of the different departments of the ministry of finance and corporate affairs, and was apprised of the ongoing issues and forthcoming challenges facing the Indian economy, among others,” a statement said.Sitharaman was also the first full-time woman defence minister. Before that, she was commerce minister and briefly the minister of state for finance. Sitharaman’s inclusion increases representation from the south — she hails from Tamil Nadu — besides making her one of the few women in the higher echelons of this government. She became a member of the BJP in 2008 and was one of its main spokespersons in the runup to the 2009 election.A package of measures has already been readied by various ministries and departments, including the finance ministry, for implementation in the first 100 days of the government. These include steps to rev up private investment, asset monetisation and sales, and easing labour rules.As defence minister, she is credited with expediting the decision-making process relating to procurements. She constituted a Defence Planning Committee to formulate an “action plan” to effectively overcome various security challenges facing the nation, the statement added.Sitharaman met Jaitley before taking charge of the ministry. A Rajya Sabha member, Sitharaman is an economist by training and an alumnus of the Jawaharlal Nehru University and the London School of Economics.The minister of state in the finance ministry, Anurag Thakur, also assumed charge on Friday.

from Economic Times http://bit.ly/2HNgVmt

West Indies make intent clear with thumping win against Pakistan

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Watch: World Cup - Can the unfancied Sri Lankans clip Kiwi wings?

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TOI Top 10: 5 Cs that define Modi's new Cabinet

from Times of India http://bit.ly/2ShaSte

With Shah in MHA, terror, insurgency will be dealt with iron hand

The leadership change in the high-profile ministry is expected to usher in a certain decisiveness and an iron-handed approach to terror, insurgency and secessionism. Shah, through his career, has come forth as a hardcore nationalist unflinching in his pursuit of whatever he perceives as crucial to national security.

from Times of India http://bit.ly/2W7rEMG

Huawei a Key Beneficiary of China Subsidies That US Wants Ended

Huawei has become a major flashpoint in the US-China trade war, with President Donald Trump taking steps to block the company's dealings with US companies.

from RSS Feeds | TELECOM - RSS Feed - NDTV Gadgets360.com http://bit.ly/2I6Lx1o

NXP to Buy Marvell's Wi-Fi, Bluetooth Business for $1.76 Billion

NXP Semiconductors said on Wednesday it will buy Marvell's wireless connectivity business for $1.76 billion in cash to offer its customers a bigger product portfolio.

from RSS Feeds | TELECOM - RSS Feed - NDTV Gadgets360.com http://bit.ly/2JOtMXZ

Huawei Launches 5G Lab in South Korea, but Keeps Event Low-Key After US Ban

Huawei unveiled an open lab for next-generation 5G wireless network in South Korea on Thursday.

from RSS Feeds | TELECOM - RSS Feed - NDTV Gadgets360.com http://bit.ly/2WrAdpR

JioSaavn, Snapchat Partner for Music Sharing

Snap has partnered with JioSaavn to enable the streaming app's users to share music on the ephemeral social networking app.

from RSS Feeds | ENTERTAINMENT - RSS Feed - NDTV Gadgets360.com http://bit.ly/2JLKU0e

Apple Defends App Store Amid Mounting Criticism

Apple on Wednesday publicly defended its App Store from mounting criticism over its treatment of rivals in a new blog post detailing its functions and guidelines.

from RSS Feeds | ENTERTAINMENT - RSS Feed - NDTV Gadgets360.com http://bit.ly/2W2ymDq

Tesla CEO Elon Musk Urges Employees to 'Catch Up' to Hit Delivery Record

Tesla has "a lot of catching up" to do but still can achieve a record quarter, Chief Executive Officer Elon Musk wrote in a new email that was reviewed by Reuters.

from RSS Feeds | TRANSPORTATION - RSS Feed - NDTV Gadgets360.com http://bit.ly/313Z16O

NXP to Buy Marvell's Wi-Fi, Bluetooth Business for $1.76 Billion

NXP Semiconductors said on Wednesday it will buy Marvell's wireless connectivity business for $1.76 billion in cash to offer its customers a bigger product portfolio.

from RSS Feeds | TRANSPORTATION - RSS Feed - NDTV Gadgets360.com http://bit.ly/2JOtMXZ

Skai Hydrogen-Powered Electric Flying Vehicle Unveiled, Experts Says Numerous Regulatory Hurdles to Be Cleared

A transportation company is betting its sleek new hydrogen-powered electric flying vehicles will someday serve as taxis, cargo carriers and ambulances of the sky.

from RSS Feeds | TRANSPORTATION - RSS Feed - NDTV Gadgets360.com http://bit.ly/2YUmsNR

Modi’s A-Team takes guard on a bouncy pitch

from Times of India http://bit.ly/2wvt6y7

Mohammad Amir fit for World Cup debut, says Pakistan captain

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Indian athletes claim five gold at U-20 Eurasian Athletics Championships

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Naomi Osaka stages second great escape at Roland Garros

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How University of the West Indies renewed hope for Caribbean cricket

Sir Hilary Beckles and his team at the UWI decided to set up a state of the art cricket academy and a proper first-class cricket facility for the students in Barbados.

from Sports-News-Economic Times http://bit.ly/30UGFVF

Stokes, Archer lead England to easy win against SA in Cricket World Cup opener

England registered an imposing 104-run victory over South Africa in World Cup opener.

from Sports-News-Economic Times http://bit.ly/2WfDI3r

Tesla CEO Elon Musk Urges Employees to 'Catch Up' to Hit Delivery Record

NXP to Buy Marvell's Wi-Fi, Bluetooth Business for $1.76 Billion

NXP Semiconductors said on Wednesday it will buy Marvell's wireless connectivity business for $1.76 billion in cash to offer its customers a bigger product portfolio.

from RSS Feeds | TRANSPORTATION - RSS Feed - NDTV Gadgets360.com http://bit.ly/2JOtMXZ

Commodity outlook: How oil, gold, agri commodities may trade in Friday's session

MCX Crude oil may test Rs 3,850, facing resistance near Rs 3,960.

from Gold News - Economic Times http://bit.ly/2ELzq91

Gold Rate Today: Gold rises on strong spot demand, firm global trend

Silver prices also climbed on raised orders from industrial units and coin makers.

from Gold News - Economic Times http://bit.ly/2KnHW1R

Trade wants govt to develop gold as an asset class

Niti Aayog had suggested in last August that the import duty on gold should be brought down.

from Gold News - Economic Times http://bit.ly/2KfuCfN

Gold edges towards monthly gain on US rate cut expectations

Spot gold was up 0.3 per cent at $1,292.68 per ounce at 0141 GMT.

from Gold News - Economic Times http://bit.ly/2W2n6XC

Precious Metals: Gold, silver futures fall on weak global cues

Marketmen said the fall in gold prices at futures trade was mostly due to trimming of positions.

from Gold News - Economic Times http://bit.ly/2YXFDWW

20 of 29 states find place in Team Modi, UP gets rewarded with 9 berths

Uttar Pradesh, which sent the highest number of 64 MPs from the ruling alliance to the 17th Lok Sabha, on Thursday got the biggest representation in Prime Minister Narendra Modi's Council of Ministers. Nine of the 57 ministers are from the state, excluding the PM who represents Varanasi, followed by seven from Maharashtra and six from Bihar.

from Times of India http://bit.ly/2YWsgXe

Live: New Union Cabinet to meet this evening

After the swearing-in, all interest now centres around the portfolio distribution in the Narendra Modi govt 2.0. The new Cabinet is likely to meet for the first time today itself. Stay with TOI for live updates.

from Times of India http://bit.ly/2IbVaf3

Home or finance for Amit Shah? MEA for Jaishankar

Modi’s team has a new look and the message of change will be amplified if Amit Shah takes over as home minister, a very strong possibility according to sources who mentioned — finance ministry — as another possible assignment for the BJP president. Rajnath Singh could move to defence to replace Nirmala Sitharaman who, in case Shah gets home ministry, may shift to finance.

from Times of India http://bit.ly/2We3vJ7

Election Results: Times Internet sees 133m users

from Times of India http://bit.ly/2EK09Tt

These men and women will run India for next 5 yrs

On Thursday, at PM Narendra Modi's swearing-in ceremony, the much-anticipated revelation of 'Team Modi 2.0' was finally made. Among the 58 members announced, key highlights included Amit Shah's ministerial debut and Suresh Prabhu's exit. Addition of former foreign secretary S Jaishankar was a big surprise while Sushma Swaraj was the shock omission.

from Times of India http://bit.ly/2EJK406

Facebook Sees 'Many Open Questions' in Years-Long Privacy Pivot

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Four New Harry Potter Ebooks Announced, Promise a Journey Through History of Magic

Four new Harry Potter short ebooks have been announced, which will be adapted from the audiobook Harry Potter: A History of Magic and will release between June-August.

from RSS Feeds | ENTERTAINMENT - RSS Feed - NDTV Gadgets360.com http://bit.ly/2QAk5gd

Onward Trailer Sets Up Pixar’s Suburban Fantasy Movie, as Chris Pratt, Tom Holland Set Out on a Quest

Pixar has released the first teaser trailer for Onward, which features the voices of Chris Pratt, Tom Holland, Julia Louis-Dreyfus, and Octavia Spencer. Onward is out March 6, 2020.

from RSS Feeds | ENTERTAINMENT - RSS Feed - NDTV Gadgets360.com http://bit.ly/2Kerhxl

JioSaavn, Snapchat Partner for Music Sharing

Thursday, May 30, 2019

Samsung Galaxy A10e Spotted on Geekbench, Key Specifications Tipped

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/30MEOCa

Huawei Listed Again on SD Association, Wi-Fi Alliance Members List; May Just Be Part of 90-Day Reprieve

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/2MgY8o3

Samsung Galaxy Note 10 Low-End Model Could Include 3,400mAh Battery, Render Showcasing Design Surfaces Online

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/2HLprCz

Death Stranding Release Date Set for November 8, Pre-Orders Go Live and Editions Detailed

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Live: New ministers to meet PM Modi at 4.30 pm at his residence

Narendra Modi is set to take oath as the Prime Minister of India for the second consecutive term today. President Ram Nath Kovind will administer the oath of office and secrecy at the function. Stay here for live updates.

from Times of India http://bit.ly/2EJXJ7c

WC Opener, Eng vs SA: Head to Head and Preview

Tipped to win their first World Cup silverware, England face a stern test in the tournament opener at The Oval on Thursday, but the hosts have all bases covered to give the a tough time to the Proteas, who will be without the dependable Dale Steyn.

from Times of India http://bit.ly/2K9Ibgy

Huawei Launches 5G Lab in South Korea, but Keeps Event Low-Key After US Ban

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/2WrAdpR

Cricket World Cup 2019: How to Watch ICC World Cup Live Online Around the World

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/30PaV4l

macOS 10.15's Anticipated New Apple TV, Music Apps Detailed in Leaked Screenshots

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/2Mi3kYD

Skai Hydrogen-Powered Electric Flying Vehicle Unveiled, Experts Says Numerous Regulatory Hurdles to Be Cleared

via RSS Feeds : RSS Feed - NDTV Gadgets360.com http://bit.ly/2YUmsNR

Jagan sworn-in as Andhra Pradesh chief minister

YSR Congress chief Jaganmohan Reddy on Thursday took the oath of office as chief minister of Andhra Pradesh. DMK President MK Stalin and Telangana CM K Chandrasekhar Rao were also present at the swearing-in ceremony. There are just two instances in the southern parts where father-son duo were elected as CMs. First was HD Kumaraswamy and the second is Jagan.

from Times of India http://bit.ly/2WgqKCj

Skai Hydrogen-Powered Electric Flying Vehicle Unveiled, Experts Says Numerous Regulatory Hurdles to Be Cleared

An analyst had raised IL&FS stink but his bosses put him down

The Ministry of Corporate Affairs (MCA) and the new board at IL&FS are investigating why questions raised by a junior analyst at a rating agency about financial irregularities at the infrastructure financier were ignored by the top management at the creditworthiness evaluator.The junior executive has allegedly told probe officials that when he brought his concerns to the notice of the senior management at the rating agency, the decision makers refused to act upon his findings, claiming the books of IL&FS and related companies were good.The crisis at IL&FS came to light in July 2018, when its roads unit faced difficulty in making repayments due on bonds. Credit rating agencies then started to cut the rating for the group parent, IL&FS, beginning August.“In March, one of the four agencies raised a red flag about the group’s elevated leverage but citing the company’s track record in the infrastructure sector, it retained the investment grade,” said a government official who didn’t wish to be named. “In another case, a junior analyst did alert his seniors about the situation in IL&FS Financial Services, but the seniors overlooked and trusted the rosy projection given by the management.”The Serious Fraud Investigation Office (SFIO), the investigation arm of the MCA, had questioned officials of rating agencies earlier this year. SFIO is investigating whether rating agencies, entrusted with the responsibility of qualifying and grading the creditworthiness of borrowers, have knowingly suppressed information.Four credit rating agencies --- Care Ratings, ICRA, India Ratings and Brickwork Ratings --- are being probed by the SFIO and the new IL&FS board on the rating action at IL&FS Financial Services Ltd (IFIN).Emails sent to ICRA, CARE Ratings, India Ratings and Brickwork Ratings remained unanswered until the publication of this report. IL&FS group chief communication officer Sharad Goel declined to comment on the matter.“Because of the credit ratings given by rating agencies, EPFO (Employees’ Provident Fund Organisation) invested huge provident fund amounts in IL&FS and their subsidiaries," said a person close to the development.According to sources, the four credit rating agencies have been found to be in violation of the provisions of Section 36 of the Companies Act, which pertains to penalties for fraudulently inducing people to invest.Sources said relying on the credit ratings, many companies invested their provident funds and pension money in IL&FS, totalling more than Rs 9,000 crore, affecting debt funds. This amount is part of the Rs 94,000 crore of unresolved debt at the embattled infrastructure financier.“The auditor and credit rating agencies are a part of the IL&FS crisis,” said an official associated with the investigations (said a government official privy to the probe details). “The probe has revealed that they have violated certain provisions of the Companies Act. The government is of the view that stringent action be taken against all those who contributed in the IL&FS crisis.”Credit rating agencies had derived comfort from the institutional parentage of IFIN without doing an independent assessment of the company as a standalone entity, sources said.Market regulator Sebi also examined the rating assigned to the nonconvertible debentures (NCDs) of IL&FS, and it pointed out procedural lapses in due diligence by credit rating agencies. These included over-reliance on management submissions in the absence of disclosures by the company to the stock exchange.The regulator observed that rating agencies maintained the rating outlook as 'Stable' in spite of writing in their press releases about multinotch downgrades in the event of significant deviation from the management’s deleveraging plan.Sebi has initiated adjudication proceedings against the three rating agencies -- ICRA, CARE Ratings and India Ratings --for their failure to exercise proper skill, care and due diligence while rating the securities of IL&FS.IL&FS is being probed by multiple agencies. The SFIO is probing the parent and its subsidiaries for violating the provision of the Companies Act. The Enforcement Directorate (ED) has registered a money laundering case against entities and former key management personnel. The Income Tax (IT) department is also probing the infrastructure financier for alleged tax-rule violations.“The board, based on the forensic and internal assessment reports, found that based on the rating given by these agencies, PFs and pension funds were invested as late as August, 2018 and in some cases there were also instance of rollovers. The board had sought explanation from these agencies to explain their case,” said another official. “The PFs invested include those by Army and companies like Mother Dairy.” One of the affected parties in this would be the companies which have invested in standalone PFs,” the official added.

from Economic Times http://bit.ly/2wpjIfe

India's most storied family in crisis mode

by Bibhudatta Pradhan, Archana Chaudhary and Shivani KumaresanNarendra Modi not only surprised the world with a landslide victory last week, he also put the 134-year-old Indian National Congress on life support.Some candidates from the storied party, home to many of India’s founding fathers when it won independence from the Britain in 1947, simply gave up ahead of the May 23 election. One checked himself into a hospital to avoid campaigning after the party wouldn’t give him enough money to run a polling booth, according two members of his campaign who asked not to be identified as they’re weren’t authorized to speak to media.He ended up losing, along with hundreds of others as the party managed to win only 52 of 543 seats -- nearly as bad as its worst-ever performance in 2014. It failed to win a single seat in about half of India’s 29 states.“The Congress I believe is close to extinction, and given its recent record it probably deserves to die,’’ said Ramachandra Guha, historian and columnist. “But let’s not forget that while it lived and thrived, the Congress nurtured the elements of a plural democracy that has outlived the party.’’The big question now is what to do with Rahul Gandhi, the reluctant heir in a dynasty that includes India’s first prime minister Jawaharlal Nehru and its second longest-serving leader after him, Indira Gandhi. Congress Party leaders rejected Rahul Gandhi’s resignation after the defeat, and tasked him with rebuilding the party.Yet, there are doubts among the rank and file over whether the Gandhi family should continue to lead the party.Stung by last week’s resounding defeat, workers on the ground have been criticizing the leadership for lacking the wisdom to build strong pre-poll alliances and an inability to cash in on its electoral gains in three major states where Congress had wrested power from Modi’s Bharatiya Janata Party just six months ago.“To some degree, Congress has a leadership vacuum in some of the campaign teams, people who can make decisive, correct and timely decisions and execute them over a long period,” said Akshay Bajaj, 29-year-old, technology professional, who has worked for the party.As the first political group to lead a government in independent India, Congress oversaw the making of its liberal, secular constitution. Three decades ago it also liberalized the Indian economy, ushering in more foreign investment.While historically Congress secured more than 25% of the vote share, it now hovers at less than 20%. That could signal the party is headed for a death spiral, according to research by Delhi-based Centre for Policy Research.A lack of funds proved to be a major obstacle, hampering the party’s ability to build a network of supporters, nurture new leaders or promote a populist electoral agenda featuring farm loan waivers and basic income support.Modi, by contrast, has constructed a formidable electoral machine that highlighted his government’s pro-poor flagship programs and measures appealing to his Hindu nationalist base. That led to the first back-to-back majority for any party in India since the Congress won a massive victory in 1984.“Elections are a game of perception, and that is what was lost,” said Anil Shastri, senior Congress leader and the son of former Prime Minister Lal Bahadur Shastri. “Congress couldn’t counter the BJP’s campaign on nationalism.”Gandhi himself campaigned hard: He built his own team, hired strategists, collected data for better planning and used a social and digital media team to boost the image of him and his party. He held as many as 145 rallies, criticizing Modi’s administration for failing to create jobs and overseeing a corrupt defense contract.But his efforts were in vain, and the way forward is uncertain.“A structural response from the leadership has not come yet,’’ said Salman Khurshid, a former minister from the Congress party. “We need large interface and interaction. Right now there is a kind of a shock.’’

from Economic Times http://bit.ly/2YUGLL1

What a Cabinet sans Jaitley means for India

A recurrent allegation against the Modi 1.0 government is that it did not deliver on economic reforms. The noise on need to ‘reform’ is only getting louder as he gets ready to run the world’s fastest-expanding major economy for the next five years – with a bigger mandate.To be sure, reform means many things to many people.For equity investors, reforms are decisions leading to higher corporate earnings essential for driving stock prices up. If investment activity is muted, they would call for government spending even if doing so is imprudent. This is a crowd that doesn’t bother about inflation. In fact, it would celebrate price rise even without productivity gains. Inflation means higher profits, more dividend and ever rising equity valuations.For bond investors, reform is government being prudent. If it borrows more, it would crowd out private investments. It hates inflation because it lowers the value of bonds. If yields spike, it is bad even for the government because it ends up paying more for its own debt. It also hurts future generations as they end up paying the debt the current generation accumulates.For the corporate world, the burden of compliance should be lesser. Industry chambers forever want lower tax rates on everything from the Audi Q7 to an Atlas bicycle. Curiously, in the name of uniform GST rate, they are demanding the same treatment for goods of essential consumption and those of conspicuous consumption. They always look for concessions for investment and ‘tax-holidays’. During ET’s first Global Business Summit, Prime Minister Modi summed up the attitude well. “If you give something to the poor, it is a subsidy that is bad. If you give something to industry, it is incentive.”For wealthy individuals, it is low or even nil taxation on their investments because they are contributing to nation building. All the investments they make should be tax exempt — be it mutual funds, private equity or start-ups. Unless you do it, the entrepreneurial eco-system wouldn’t flourish.For giant corporations, government rules must ensure that entry barriers are high. Their argument is that customer service is so important that small companies would lack economies of scale and consumers end up paying higher prices. But the opposite is true. Industries which are dominated by duopoly or oligopoly structure end up squeezing consumers in the long run and the economy loses out.For non-banking finance companies, the Reserve Bank of India is a heartless beast that fails to acknowledge their role in providing livelihood for millions of families. They provide credit to a bunch of less creditworthy borrowers risking their capital; so they should be treated kindly. They are not open to the prudential norms that guide banks but want the regulator to be their lender of first resort.If the administration panders to the demand of all, public policy would end up encouraging crony capitalism rather than creating a level playing field for long run benefits. While fans of John Maynard Keynes would be quick to point out that “in the long run we are all dead”, policy makers have to be mindful of that.The Oxford Dictionary defines reform in these words: “Make changes in (something, especially an institution or practice) in order to improve it.”Going by this definition, what did Modi 1.0 do? Three institutional changes come to mind:1) Independence of monetary policy, with the formation of a Monetary Policy Committee that decides on interest rates. The structure frees decision-making even from the Governor, who is appointed by the government.2) Legislation on bankruptcy. For decades, lenders were at the mercy of borrowers. Now, however, someone who has lent money can take away the assets. That bankers, who were earlier complaining about the lack of such policy support, are not using the mechanism willingly is a signal that the way they do business is changing.3) Goods and Services Tax. It was a Herculean task that someone as diplomatic as Arun Jaitley (who is out of the race for finance minister now) alone could achieve it. He gave up half his powers by surrendering taxation to the GST Council for a greater good.Structural changes would not reflect in improvements overnight. These take years to sink into the system and the benefits would be reaped over the years. Like it was when Prime Minister Narasimha Rao opened up the economy in 1991, with local industry complaining about competition. The fruits are there for everyone to see.A finance minister can give direction to an economy and not drive it. Meddling with banks to bring down interest rates and pushing them to lend to projects can give a feeling the government is active, but it would backfire like it did with the UPA government. Jaitley resisted the temptation.Modi-Jaitley combo rarely indulged in headline grabbing stuff that was routine with P Chidambaram as finance minister. Headlines can be numerous, but what matters is delivering on structural change. The economy may be better off with a Jaitley-like character in the North Block than Chidambaram.

from Economic Times http://bit.ly/2wslNXE

Govt plans road bumps for pre-2000 vehicles

NEW DELHI: Running an older vehicle of pre-2000 make, particularly commercial ones, will soon become more taxing. Such vehicles will have to undergo frequent fitness tests and there will also be about 15-20 fold increase in the fees for both first time registration of diesel/ petrol vehicles and for renewal of their registration. These are some of the disincentives that the government has finalised in its blueprint to push the phasing out of older polluting vehicles. According to different studies, older vehicles are 25 times more polluting as compared to new ones. Sources said old commercial vehicles will be the main focus of voluntary scrapping scheme, which the government is likely to launch in the next three to four months.69572467 Government’s think tank Niti Aayog, which is taking the lead in fast-tracking the policy, has held rounds of consultations. Sources said there will be a carrot and stick policy to give incentive to those who scrap their old vehicles to buy a new one while making it difficult for owners of older vehicles. TOI has learnt that there is a proposal to waive off the registration fee for new vehicles, if the buyer shows a certificate of scrapping his old vehicle. The government will also convince the vehicle manufacturers to offer discounts for new vehicles bought against scrapping certificate.

from Economic Times http://bit.ly/30To8Jh

Flying with less fuel fine, but don’t go full throttle on plan: Experts

MUMBAI: In the past one month, over thirty flights operated by Air India, IndiGo and SpiceJet, most of them flying to Hyderabad, carried lower amount of fuel as compared to the other flights operating similar aircraft on similar routes.Currently, fuel calculation for a flight takes into account fuel needed to fly to the destination, taxiing, contingency, reserve and most importantly, the amount needed to fly from the scheduled destination to an alternate airport in case it’s not possible to land at the destination due to some emergency.But the flights mentioned above operated on a progressive, environment-friendly, fuel conservation initiative: if the destination airport has at least two independent, usable runways; if the weather is good, then with certain new practices in place, experienced pilots can be allowed to operate flights that do not carry fuel to fly from the destination airport to an alternate airport. Instead the aircraft carries an additional fuel for fifteen minutes worth of low-flying. With the initiative, IndiGo said it could save 2,100 tonnes of fuel while reducing carbon emissions by 6615 tonnes per year. Air India would save 140kgs per B777 Delhi-Hyderabad flight.But experts caution against certain ground realities. Capt M Ranganathan, an air safety expert, said India’s airport infrastructure is too poor so airlines and the regulator shouldn’t go full throttle on this initiative yet. A senior B777 examiner pointed out that since India has only a few airports that can handle wide-bodied aircraft, it’s a tight-rope walk. 69572678 “If Nagpur airport is shut down for some unforeseen reason, and if at that time a Boeing 787 flying from Delhi to Hyderabad, without carrying fuel to fly from Hyderabad to Bengaluru develops a problem with its hydraulic system about an hour into the flight, then it would be a stressful situation for the commander. But that wouldn’t be the case with such flights flying, say in the United States , or even in the Middle East where airports have many operational runways. It’s a progressive idea, nevertheless. One that is here to stay,’’ said the examiner.“My concern is whether the airlines have carried out adequate risk mitigation. Then again, pilot training for such flights cannot just be in the form of documentation. In the future, if more and more flights are allowed to fly without fuel to alternate destination, will airlines themselves ensure that all the conditions are met before such fuel-saving, moneysaving flights are released,” stated a senior A320 commander.

from Economic Times http://bit.ly/2JKWOHR

Nearly 600 passengers stranded at Heathrow after two Air India flights to Mumbai fail to take off

LONDON: The Metropolitan Police had to be called to Heathrow Airport late Wednesday after nearly 300 furious passengers were left stranded airside after their Air India flight which was already 32 hours delayed failed to take off.One of the passengers, British group HR director Heather Gupta, told TOI there was "utter chaos" when passengers cleared customs and security only to be given no gate and no details of any airplane to board. Small children and the elderly, some in wheelchairs, were among them, with passengers left furious as some had already missed weddings, cremations and important business meetings back in India.Gupta, 49, who was travelling with her two sons, Jake, 8 and Noah, 6, told TOI at 23.30 local time Wednesday: "There was one Air India rep and she has disappeared now. Passengers are going crazy. This flight was supposed to go yesterday [Tuesday] and so there is a bunch of really irate people and just one Air India lady who is absolutely clueless. It is mental and no one has any idea what is going on."A video shared with TOI shows passengers shouting at a lone member of staff from Heathrow and a group of firearms officers then arriving.A Met Police spokeswoman told TOI at midnight local time Wednesday: "Officers are on scene as a precautionary measure and to prevent any breach of the peace. There has been no disorder and no arrests." Around midnight the passengers were ushered back through immigration and taken to another hotel with no information as to when they could fly.Nearly 600 passengers travelling between London and Mumbai had been stranded in an airport hotel all day on Wednesday, leaving them exhausted and angry.A total of 293 passengers from the 13.15 Air India Flight on Tuesday, 28 May had been forced to spend the night at the hotel after their flight was grounded because of a fuel leak. They had spent all day Wednesday in the room at the hotel, provided by Air India, but said they were given no information from Air India as to when they could fly and no refund.Then the 13.15 Air India flight on Wednesday also did not take off and those passengers were sent to the same hotel room. One Air India woman spoke at them through a megaphone on Wednesday and said: "The engineers are working on the aircraft. I will update you whatever update they give me." The passengers were later told that a team of aircraft engineers were due in London on a flight from Mumbai on Wednesday - itself delayed - due to land at 19.00. This team was bringing parts to repair the 28 May aircraft so those passengers could depart at 22.00. But that never happened.The delayed 29 May flight however eventually departed at 21.30 Wednesday eight hours late.Passengers complained to TOI there was no information from Air India staff throughout the ordeal.Albashi Baig, 24, a student in London, was flying home to be in a hospital in Thane for his 60-year-old father’s cardio-surgery, taking place Wednesday night.But he was on the Tuesday flight which was grounded.Almost in tears he told TOI how had begged Air India to get him on another flight but they did not. “Noone in Air India was picking up the phone and we went to the airport and they told me to buy a new ticket costing up to £1,800 (Rs 1.5 lakh) one way. I am so upset as I wanted to be with my father to give support.”Baig said another passenger was desperate to get to his sister on a ventilator, one's father had died and he could not get to the cremation and one had missed a connecting flight to Australia where his wife had had an accident.Passengers were informed at 12.30 pm on Tuesday that the 13.14 AI130 flight was just delayed, but then at 18.30 were told to collect their luggage. Indian passengers were then caught in a long queue at UK arrivals immigration despite having not flown anywhere. “It was chaos trying to get luggage on to the hotel bus”, said Gupta, who lives in Mumbai and missed an important work meeting. "One family had 10 suitcases and one elderly woman in a wheelchair could not get on it."Gupta had flown to London last Friday to collect her children who had spent two weeks with her UK relatives. She had spent Rs 6 lakh in total on tickets for the trip since Rs 2.5 lakh had gone on Jet Airways tickets which were cancelled. “Passengers are really angry. I met one Indian whose father is in a coma in India and another who has missed a wedding," she said. "Another who is on a two-day business trip. Some passengers flying from US and Canada are worried as their 24-hour transit visas have expired."Speaking to TOI earlier in the day, Debashis Golder, regional Manager UK & Europe, Air India said: ”AI130 of 28th May is declared AOG (grounded) due to a fuel leak and expected to go today [Wednesday] by 2200 hours. "But by midnight the flight had not departed."AI130 of 29th is delayed and will go at 2000 hours," Golder had said. That flight left at 21.30. "If not atravelling and seeking refunds they will get a full refund. Our team is with passengers in the hotel and updating them regularly," he added.

from Economic Times http://bit.ly/2K9IesZ

Five ways pharmaceutical and healthcare can be ‘Modified’

The Lok Sabha election results did not affect the pharma stocks but the Modi government can impact the pharma and healthcare sectors in several ways.GDP spend on healthcare: Increasing the expenditure on healthcare can be the most impactful measure that the government can undertake. The additional funds would be required for spending on strengthening the primary healthcare infrastructure and building upon the secondary and tertiary public healthcare setup. India spends 1.15 per cent of its GDP on healthcare and the government has targeted to increase it to 2.5 per cent by 2025.Ayushman Bharat: The ambitious insurance scheme slated to provide secondary and tertiary care to the poor (constituting nearly 40 per cent of the country’s population) was Modi government’s first step towards aiming universal healthcare for India. However, economic sustainability of the scheme and provision of quality healthcare services to the poor in remote areas are challenges that must be overcome. The scheme requires sustained funding, proactive participation from the private sector and diligent execution to succeed.Institutional reforms: The pharma, medical and healthcare sectors are awaiting urgent reforms in terms of governance. For instance, there is no exclusive ministry governing these sectors. The pharma sector is regulated partly by ministry of chemicals and fertilisers and partly by the ministry of health and family welfare. The Medical Council of India needs to give way to an institution that better regulates the medical practice and education in India.Improving the regulatory oversight: Regulatory oversight on drug makers (pharma companies), drug sellers (pharmacies) and drug prescribers (doctors) needs to increase. While the US drug regulator pulls up Indian pharma companies for discrepancies in their manufacturing — India needs to strengthen its drug regulatory mechanism to ensure the quality of drugs sold locally is as good as the ones that are exported. A legally binding directive to regulate marketing practices needs to be promulgated since the voluntary Uniform Code for Pharmaceutical Marketing Practices has proved to be ineffective.Clarity on the policy front: The sectors would benefit getting clarity on the government’s stance on issues like promotion of generic drugs, extent of price control on drugs and devices, legality of fixed drug combinations, induction of Ayush doctors to meet the healthcare staff shortage and policy incentives for research and development as well as drug exports.

from Economic Times http://bit.ly/30PVWHb

Reforms is the theme for investing under Modi 2.0 : Mark Mobius

“Reforms, reforms, and reforms,” is the theme for investing under Narendra Modi-led government’s second term, says Mark Mobius, founding partner of Mobius Capital Partners, In a phone interview from Singapore with ETMarkets.com, the 81-year-old emerging markets guru said a majority for Bharatiya Janata Party (BJP) at the hustings augurs well for the economy. Reforms related to labour, infrastructure and ease of doing business were at the top of Mobius’ reforms wishlist for the government. Edited excerpts: How do you view Mr Modi’s win and what does it mean for the Indian market?It means a lot because this first thing which is really important to recognise is that we are in a situation now where everyone was predicting that Modi would in no way be able to garner the kind of mandate that he has now achieved. What that means is that we are really in an amazing situation where he has got the mandate to move ahead with his reforms programme and that to me is quite exciting. Now, would he be able to take advantage of that? We must realise that there are all kinds of bureaucratic and political barriers which prevent him from doing absolutely everything that he wants to do and if he can do 20% of what he is planning, that is very, very good. It is a good opportunity and so I am quite excited about the result. In light of the results, where does India stand in your emerging market preference list?Very high, because we are in a situation now where we can see immense growth in India. Of course, we have already seen that growth. This country is growing at a fast rate and in addition, we are in a situation where the Chinese market is not doing that well, not only because of the trade dispute with the US but also because it is very difficult for them to maintain the kind of growth that we have seen in the last 10 years. So, India is really looking very bright. Among all the emerging markets performances, India stands out. It is really jumping ahead of the others. That is very important. If you were to rank India according to preferences, where would India stand?Number one. Absolutely, number one yes. What is your reforms wish list from the new government?I would say the first one would be employment regulation because you’ve got millions -- in fact, the latest number I read is there about 100 million migrant workers moving around India looking for work. So, there needs to be a reform of the labour laws so that we can see much higher employment. I would say that is number one because the Indian workers are as good, if not better than any workers in the world because they got the language abilities. There is no reason why you can have total employment in India and if you could release that tremendous labour force power, you can see an incredible boom in the Indian economy. After the election results, which are the sectors that you would prefer to buy into in India?We like companies that can take advantage of the infrastructure building that is taking place. By the way, that is the second point I want to make about Modi’s programme. That is getting him to have a much bigger infrastructure programme. He started a lot of infrastructure projects but they have not moved ahead at the pace that they should. Here again it is quite puzzling when you consider the fact that people are looking for work and they got all these infrastructure projects which are not really moving ahead at the pace at which they should really. This is a big challenge and something that we have to look at very carefully. Infrastructure should be the next item on the list. Which are the other sectors that you like apart from infrastructure?The other sector I like is the non-bank financials companies (NBFCs) because of the greater degree of bankable population as result of identity card programme. The fact is that the government is making direct transfers to people and that these people have become much more bankable. The non-bank financials-- as long as they can garner the lowest segment of the obvious group which is growing at a pretty fast pace, would be another one. That said, they are going through liquidity crisis as we speak. What are your thoughts on that? Yes, some of the companies are going through that crisis, which is good in the sense that either there will be consolidation or at least fewer competitors, so that you have better opportunities for those companies that have been running quite efficiently and quite well. Which are the sectors you would stay away from at that point of time? Usually, the bigcap stocks is not what we are interested in. How much has Mobius Capital Partners raised already in terms of funds? How much of this is in India already?We have raised about $180 million. In India, we have about roughly 8% of the portfolio. We would like to have more but as you know, it took us a while to get permission. By the way, that is the other area that needs reforms. There has to be a greater realisation that if an investor wants to put money into the market, the process should be made easy for them. What are your thoughts on the Indian economy now that it has slowed down a bit? High frequency data such as auto sales, air traffic everything have come down significantly. The air traffic number is mainly because of Jet Airways failure. I would not worry about it. In my experience, travelling in India has changed a whole lot and the airports are packed with people. So, there is an incredible growth opportunity there.The problem is that there is a race at the bottom on pricing which is not healthy for the industry and resulted in near bankruptcies as we have seen. People got to wake up to the fact that you cannot continue to try to get market share by lowering prices. I would like to see them get market share by way of better service, more comfortable seating etc. That is where you can really shine, but the way it is done now it is not very healthy. RBI policy is due on June 6th. What are your expectations from RBI?For quite some time, I have believed that the Reserve Bank should lower rates because the gap between inflation and the interest rates in India is just too wide and they should not be so bearish with regards to that. I really feel that they have got to change and hopefully this new guy in the driver’s seat will be able to do that. A lot of economists have questioned the economic data that came out in recent times and there have been a lot of question marks raised on its validity. What are your thoughts there? You have this problem on a global basis. Everybody questions the numbers, in fact, I have a new book coming out about inflation. What we are doing is that there is no inflation. There is deflation globally, because the inflation numbers are constantly changed as the basket is constantly changed. So, you are getting very short term erroneous numbers and that is probably true for other governments statistics as well.But, you do not have to look at the government numbers for growth in the economy. You just have to look at how some companies are growing, how consumption is growing in various categories, the number of cell phones being sold, etc, etc. From these kinds of information, you can get a pretty good idea what is happening in the economy. So I would not be too critical of the government statistics because you are in a situation where a few percentage points one way or the other is not going to make a hell of a big difference. What people talk about 1.2 versus 1.3 this does not make any sense because you cannot be that precise, there is no way you can do that. What would be the theme for investing under Modi 2.0? if you were to name one theme for investing under the government’s second term, what would it be? It will be reforms, reforms, and reforms. I mean all of the changes that are taking place augur very well for changes in the Indian economy and releasing its incredible energy that you can get from what is happening. So I would say it is all about reforms. How difficult is it to find ideas in the midcap and smallcap categories, considering that a lot of smallcap companies have been pretty volatile?It is very difficult to find the right stocks. It is a constant struggle to find companies where you are getting a positive trend in the share price. Number one, where you get growing earnings, where you have a strong balance sheet etc, etc. So there are a lot of dangers to put it that way in stock markets. India is just one of the many markets I look at and you have the same problem everywhere. So, wherever you go, you got to be careful and take your time to study very carefully what is happening. What is the biggest threat to the Indian markets at this point of time? I think the biggest threat would be whether if Modi is not able to move ahead quickly on the reforms because that will give a signal to the market that things are not as good as they thought. That is one thing you have got to be very much aware of. So everybody will be looking at this very, very carefully. We keep talking about the consumption story in India but are you buying consumption stocks in India or are they too expensive to touch? They are a little expensive and it is difficult to find consumption stocks that are really cheap but we continue to look. We are looking at some things now and it is not easy because of the popularity of that sector but nevertheless we want to find something in that sector if at all possible. The opportunities in India to invest in the listed space are pretty less compared to the huge consumption theme that we have. For example, for a middle class urban consumer -- if his or her salary were to go up, he or she would spend it on a better phone which will be a Chinese smartphone or an American smartphone or buy more on Amazon, Myntra, Flipkart. Again, none of these are in the listed space. Does that impede having more options? What are your thoughts?Well I think that is a big issue that we have with consumer sector now and it is not true for India but it is also true for consumer companies around the world. They have been confronted with the internet revolution with more and more companies coming into the internet and people doing internet shopping. The problem is that in order to garner market share, these companies are continuing to lose money. They continue to sell products at low cost in order to get market share, and these companies are being funded by wealthy investors who are willing to accept these kinds of losses. We are not willing to do that unless we see a very strong argument for a turnaround in these companies. You have the traditional retailers who are really under fire because if they do not have an internet strategy, they can be really killed by these companies that are confronting them with crazy low prices.

from Economic Times http://bit.ly/2HJJaTe

Setting minimum broadband speed not possible: Rajan Mathews

NEW DELHI: Consumers may continue to clamour for faster, buffering-free experience while watching their favourite web series, but are unlikely to get any assurance on it even if they pay more.The government is unable to change the current rule for mobile broadband, delivering up to 512 Kbps speeds, because, telecom companies and experts say, setting a minimum speed isn’t possible technically, not just in India but anywhere in the world.“In a point to multi-point mobile network, no network operator, in India or globally, can guarantee a certain minimum download speed,” said Rajan Mathews, director general of the Cellular Operators Association of India, which represents all carriers including Vodafone-Idea, Bharti Airtel and Reliance Jio.The actual network speed that the consumer experiences depends on various factors such as coverage, network load, usage, location of user in the cell, application being used and the kind of device being used among other factors, Mathews explained.Third-party speed-testing agencies such as Opensignal and Ookla agree with telcos and say that guaranteed data speeds remain a persistent issue among telcos, in India and overseas.“No operator has managed to provide LTE (4G) connections to users 100% of the time, even in the most mature mobile markets. This alone means it's near-impossible to guarantee network speeds," said Opensignal chief executive Brendan Gill, attributing the findings to its data measuring 4G availability and speeds.Many other issues such as latency and quality of smartphones play a critical role in mobile user experience, especially as video streaming, online gaming, live messaging and video calling become more popular.But consumers feel telcos aren't delivering their promised Internet speeds, let alone a bare minimum level of speed.“They can do (provide a basic minimum speed), but they don’t want to. When there’s load on a system or number of subscribers are more, the speeds are low and vice versa. That should not be the case — we want constant speeds, 24x7, because we’re paying for it as per the telco’s plans,” said Arun Kumar, head of a Delhi-based consumer advocacy group.Ookla’s speed testing data showed mobile Internet speeds in India to have increased by more than 20% in 2019 from a year earlier to 10.71 Mbps, but it fell in the speed rankings — to 121 from 112 — as other countries saw a faster increase in their speeds.

from Economic Times http://bit.ly/2XcX85r

ICC World Cup: Virat Kohli's perfect chance to shape a legacy

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WC Opener, Eng vs SA: Head to Head and Preview

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Watch: Ravi Shastri tells Yuzvendra Chahal 'I am still young'

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KL Rahul rediscovers himself just in time for WC

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World Cup 2019: Five debutants to watch out for

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WC: Googlies and more on wily Yuzvendra Chahal's mind

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Live: Jaganmohan takes oath as Andhra CM

YSR Congress chief YS Jaganmohan Reddy sworn-in as the second chief minister of Andhra Pradesh post its bifurcation. The swearing-in ceremony is being held at IGMC Stadium in Vijayawada. Stay with us for all live updates:

from Times of India http://bit.ly/2I6wDYV

Microsoft Excel for iPhone Now Lets You Convert Paper-Based Tables Into Digital Spreadsheets

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Huawei Ban Puts South Korea in a Familiar Place - Caught Between US and China

The campaign against Huawei, and the broader US-China trade war, have landed export-driven South Korea in a familiar bind, caught between its crucial security ally and biggest trading partner.

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2019 TVS Apache RR310: First ride

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Google celebrates ICC World Cup 2019 with a Doodle

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Sachin Tendulkar to make his commentary debut in World Cup opener

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Eden Hazard scores twice as Chelsea sweep aside Arsenal in Europa League final

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Chelsea victory hands Lyon automatic Champions League spot

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I'm playing World Cup four years earlier than I thought: Jofra Archer

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5 unforgettable deliveries that changed a WC match

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MS Dhoni is a mind-reader: Yuzvendra Chahal

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Batting at No. 4 in ODIs: Is it a science, skill or art?

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I play with the cards in front of me: Graham Reid

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IN PICS: World Cup captains meet Queen Elizabeth

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Big sports events today

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ICC World Cup 2019 kicks off with 60-second challenge

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Manu Bhaker secures India's 7th Olympic quota in shooting

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Virat Kohli's wax statue unveiled at Lord's to mark ICC World Cup launch

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Apple Defends App Store Amid Mounting Criticism

YouTube Launches Cheaper Student Plans for YouTube Music, YouTube Premium Subscription in India

YouTube has launched ‘Student Plans’ in India that will let users subscribe to YouTube Premium and YouTube Music services for a lower fee.

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Alexa on Amazon Fire TV Stick Can Now Search and Play Content From Netflix Catalogue in India

Alexa on the Amazon Fire TV Stick initially only worked with Amazon Prime Video, but the company has now extended its capabilities to Netflix as well.

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Who will be sworn in today? Modi meets Shah for third time in 3 days

The list of Union ministers is likely to be sent to the Rashtrapati Bhavan soon, sources said. Narendra Modi and Amit Shah have held several rounds of discussions in the last two days. BJP allies like Shiv Sena, JD(U), AIADMK, LJP, Akali Dal and Apna Dal are set to be represented in the govt. Modi will take oath along with a new council of ministers for a second term at 7pm.

from Times of India http://bit.ly/2I4I6Iu

Live: New ministers to meet PM Modi at 4:30 pm

As US IT firm cuts jobs, India amongst most hit

US IT services firm DXC –formed in 2017 with the merger of CSC and HP Enterprise’s service business – let go of 10,000 people, or 7% of its workforce, in the last fiscal as part of a turnaround plan. At least half of these job cuts were in India. The entity’s total headcount was 1.7 lakh around the time the merger was announced, but it’s now down to 1.33 lakh.

from Times of India http://bit.ly/2YV79EI

How Modi, Shah visits proved pivotal for Surya

from Times of India http://bit.ly/2QxGBX3

Are LS results end of the road for Siddaramaiah?

Siddaramaiah, the face of Karnataka Congress, is facing flak from his own partymen who blame him for Congress’ worst-ever showing in Lok Sabha polls in the state. “Siddaramaiah was the one who created doubts in the minds of Congress and JD(S) voters by letting the ‘Siddaramaiah for CM’ clamour grow,” said a senior Congress leader. “Though he campaigned jointly with JD(S) leaders in the Old Mysuru region to undo the damage, the expected transfer of votes did not happen.”

from Times of India http://bit.ly/2HIp9fH