Diana Inks Charter Deal for Capesize Bulker

first_imgzoom Athens-based dry bulk shipping company Diana Shipping has entered into a time charter contract with Singapore’s Koch Shipping for one of its Capesize vessels, the M/V Seattle. The firm said that the gross charter rate is USD 11,700 per day for a period of minimum fourteen months to about seventeen months.The charter is expected to start on February 6, 2017.Diana also said that the employment of the bulker is anticipated to generate approximately USD 4.91 million of gross revenue for the minimum scheduled period of the time charter.Market value of the Capesize dry bulk carrier currently stands at USD 22.47 million, according to information provided by VesselsValue.The 179,362 dwt Seattle has been working for Geneva-based SwissMarine Services since December 2015, Diana’s data shows.Acquired by Diana in 2015, the Seattle was built by South Korean shipbuilder Hyundai Heavy Industries (HHI) in 2011.Diana’s fleet is currently comprised of 48 dry bulk vessels, which have a combined carrying capacity of 5.7 million dwt and a weighted average age of 7.67 years.last_img read more

IndustriALL Workers to Strike against HHI SplitUp

first_imgzoom Workers of South Korean shipbuilding company Hyundai Heavy Industries (HHI) plan to go on strike on February 22-27 to voice their opposition to the firm’s restructuring plans, IndustriALL Global Union informed. “Korean analysts and unions believe that Chung Mong-Joon, HHI’s controlling shareholder and part of the Hyundai chaebol dynasty, is restructuring the company to transfer ownership to his son Chung Ki-seon, a move that would be illegal under Korean law,” the union explained.The restructuring plans are included in the agenda of HHI’s shareholders’ meeting scheduled for February 27 and the workers are said to be planning to block the meeting.HHI revealed plans in November 2016 to split into six parts – Hyundai Robotics, Hyundai Electric & Energy Systems, Global Services, Hyundai Construction Machinery, Green Energy, and Hyundai Heavy Industries – in an effort to improve its financial status.The Korean Metal Workers’ Union (KMWU), IndustriALL’s affiliate, pledged to support HHI workers in their resistance to the company’s restructuring efforts. HHI workers voted to join KMWU in December 2016.The planned strike comes just a week after some 4,000 metalworkers rallied in front of the HHI Shipyard in Ulsan, vowing to smash plans to restructure one of the three biggest shipbuilders in the country.KMWU brought together union officers from across the country for the rally, which coincided with a four-hour work stoppage.Speaking at the rally, Kim Sang Gu, KMWU President, stated: “The KMWU will stop this restructuring, which is an attempt by Chung Mong-joon and the Park Geun-hye government to shift the responsibility for the shipbuilding industry downturn onto the backs of workers.”“The Hyundai Heavy Industries spin-offs will lay the foundations for the third-generation succession of management by Chung Mong-joon and his family. They aim to monopolize all the wealth built from the hard work of the workers. We cannot approve of a shareholders’ meeting that is for the benefit of Chung Mong-joon only. We will stop this,” Baek Hyeong-rok, a union leader at HHI, said.HHI has refused to recognize the KMWU as collective bargaining representatives, even though KMWU is recognized by Hyundai Motors, according to IndustriALL.Earlier this month, the shipbuilder released financial results for 2016, reporting a net profit of KRW 682.3 billion (USD 596.6 million) compared to a loss of KRW 1.36 trillion (USD 1.18 billion) seen in 2015.The company’s operating profit also marked a turnaround as it stood at KRW 1.64 trillion, against an operating loss of KRW 1.54 trillion. Operating profits rose mainly due to increased volume of ships that HHI won at profitable prices, continued efforts to cut costs and streamline shipbuilding processes and improved oil refining margin and increased sales of Hyundai Oilbank.last_img read more

Weak Market Rates Affect Navios Acquisitions Earnings

first_imgzoom NYSE-listed owner and operator of tankers Navios Maritime Acquisition has seen its net income drop by 18 percent to USD 5.6 million in the first quarter of the year from USD 23.7 million reported a year earlier.The lower new income was due to a USD 20.4 million decrease in EBITDA and a USD 0.2 million increase in direct vessel expenses, partially mitigated by a USD 1.5 million increase in interest income, USD 0.7 million drop in depreciation and amortization and a USD 0.3 million decrease in interest expense and finance cost.The company’s EBITDA decreased to USD 37.4 million in the quarter ended March 31, 2017, compared to USD 57.7 million recorded in the first quarter of 2016. Navios Acquisition also said that its revenue stood at USD 64.4 million, down by 19.8% from USD 80.4 million seen in the first quarter of the previous year.The decrease was mainly attributable to the drop in market rates during the first quarter and a decrease in revenue by USD 3.8 million due to the sale of one MR2 product tanker in January 2016 and two chemical tankers in each of October and November 2016. “Our business model has two distinct characteristics. First, we seek long-term charters when available. This provides above market earnings during times in which period employment is unavailable and the spot rates are contracting. For the first quarter of 2017, Navios Acquisition’s average charter rate for its fleet was about 42% higher than the spot market average for this fleet,” Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition, said.“Second, we enjoy economies of scale through our relationship with Navios Holdings. Navios Acquisition’s operating costs were approximately 17% lower than the average of its listed peers. These efficiencies created estimated savings of USD 22.8 million in 2016,” Frangou added.Navios Acquisition currently owns 36 vessels, of which eight are VLCCs, 26 are product tankers and two are chemical tankers.As of May 16, 2017, Navios Acquisition had contracted 90.4% of its available days on a charter-out basis for 2017, expecting to generate revenues of approximately USD 183.1 million. The average contractual daily charter-out rate for the fleet is expected to be USD 17,833.last_img read more

Wison Hands Over Worlds 1st BargeBased FSRU to Exmar

first_imgShanghai-based Wison Offshore & Marine (Wison) has delivered the world’s first barge-based floating LNG storage and re-gasification unit (FSRU) to Belgian company Exmar.The delivery follows Exmar’s confirmation that it has secured long-term employment for the FSRU starting from mid-2018.The identity of the “reputable third party” behind the long-term charter is yet to be revealed.“The delivery of the FSRU is a testimony of EXMAR’s commitment to continuously improve the solutions we offer to the LNG supply chain industry. I am very pleased and honoured that long-term employment for the FSRU was secured prior to delivery,” Nicolas Saverys, CEO of Exmar, commented.The FSRU vessel, constructed at Wison Nantong shipyard, features an LNG storage capacity of 25,000m³ and a re-gasification capacity of 600 MMSCFD. It is the first ever FSRU project undertaken by a Chinese company on EPC basis.This barge-based FSRU serves as a flexible LNG receiving solution which makes considerable reductions in CapEx and lead time possible for project developers, Wison added describing the vessel. “Successful delivery of the project again showcases Wison’s strong capability to deliver cost-effective solutions. We are committed to Page 2 of 2 commercialization of global LNG industry by delivering higher returns for various types of infrastructure investors, making LNG more affordable,” Ying Cui, CEO of Wison Offshore & Marine said.The FSRU delivery comes in less than a year since Wison handed over the Caribbean FLNG in January 2017.However, the Caribbean FLNG is still without work as several negotiations on its employment are said to be underway.The vessel was set to work for Canada-based oil and gas company Pacific Exploration and Production (PEP), however, the agreement between Exmar and PEP was terminated in March 2016.No income is expected from the Caribbean FLNG before the end of 2018.Image Courtesy: Wisonlast_img read more

Women Wisdom and Success

first_imgInvite 200 women of varying backgrounds and interests into oneroom to discuss their work, their relationships and all the otherfactors that affect their daily lives. Then sit back and take inas much of the response as you can. That is just what the Nova Scotia Human Rights Commission will doat the Westin Nova Scotian Hotel in Halifax on Monday, April 19and Tuesday, April 20 during an event called Women, Wisdom andSuccess. Each year the commission organizes a forum that explores one ofthe areas protected by the Nova Scotia Human Rights Act. Thisyear, panel and group discussions will focus on the many issuesaffecting women. “Awareness is an important part of the Nova Scotia Human RightsCommission’s work,” said Michael Baker, the Minister responsiblefor the Human Rights Act. “By hosting sessions like this eachyear the commission is helping the community explore the manyways that human rights touch our every day lives.” A networking session and dinner on April 19 has been designed toset the stage for the next day’s workshop, which will featurepanellists, entertainers and a keynote address by Daily Newseditor and former Cabinet minister Jane Purves. The program also includes time for small group discussions –called talking cafés. Led by international consultant JudithRichardson, the cafés are designed to encourage women of variedages, socio-economic, ethnic and cultural backgrounds to sharetheir perspectives on what works, and does not work, for them aswomen in today’s society. “That kind of inclusiveness makes it a learning experience notonly for participants,” said commission CEO Mayann Francis, “butalso for policymakers who will later benefit from what the HumanRights Commission learns in the process.” Ms. Francis said the organizing committee had a taste of how wellthe talking café format could work while preparing the agenda forthe forum. “It was marvellous to see how a group of women couldhave so many shared experiences and still have so many uniqueperspectives. Sometimes it was moving, other times just plain funto hear the differing stories. With so many other contributingvoices, the Women, Wisdom and Success forum is certain to be aninspiring and thought-provoking experience.”last_img read more

New Chair for Offshore Petroleum Board

first_imgDiana Lee Dalton is the new chair of the Canada-Nova Scotia Offshore Petroleum Board. The announcement was made today, Aug. 31, by John Efford, Minister of Natural Resources Canada, and Cecil Clarke, Nova Scotia Energy Minister. “Ms. Dalton has had a distinguished career in law and consulting on natural resources, both in Canada and abroad, and will be a welcome addition to the board,” said Mr. Efford. “I believe her leadership and experience will be an asset to the board in its deliberations and decisions.” “I’m very pleased that we were able to find someone of Ms. Dalton’s ability to be chair,” said Mr. Clarke. “Nova Scotia’s offshore is at a critical stage of its development and we’re counting on the board to be a responsible steward of that development.” Ms. Dalton, an independent consultant, has worked with governments, the private sector and international development agencies on legal and administrative matters in the natural resources sector. She was interregional advisor in natural resources at the United Nations in New York and acting assistant secretary and senior policy analyst with the department of minerals and energy for the government of Papua New Guinea. She has also held senior positions in the Nova Scotia government and was legal counsel for LASMO Nova Scotia Ltd., an oil and gas company. Ms. Dalton holds a law degree from Dalhousie Law School, as well as a master’s degree in political science from McMaster University, and an honours bachelor’s degree in political science from Acadia University. The Canada-Nova Scotia Offshore Petroleum Board is an independent body responsible for the regulation of petroleum affairs and safe practices offshore Nova Scotia on behalf of the governments of Canada and Nova Scotia. The board’s responsibilities include ensuring safe offshore operations, protecting the environment, managing offshore oil and gas resources and issuing licences for offshore exploration and development. The board reports to the government of Canada through the Minister of Natural Resources, and the government of Nova Scotia through the Nova Scotia Minister of Energy.last_img read more

Snow Island Withdraws Lease Application

first_imgSnow Island Salmon Inc. advised the province the company is withdrawing one of three applications for salmon farms on the Eastern Shore. Snow Island Inc., a subsidiary of Loch Duart, a Scottish-based salmon producer, had applied for permits for three, 18-hectare salmon farms at Shoal Bay, Spry Bay, and Beaver Harbour, all in Halifax Regional Municipality. “Environmental and economic development concerns are being carefully considered and no final decisions had been made on these applications,” said Fisheries and Aquaculture Minister Sterling Belliveau. The Beaver Harbour application is being withdrawn by Snow Island based of its proximity to wild salmon populations. “Snow Island has asked the Department of Fisheries and Aquaculture to withdrawal its application for a farm in Beaver Harbour,” said Shane Borthwick, vice-president operations, Snow Island. “Snow Island, in conjunction with government, conservation groups and the scientific community, is working to further understand wild salmon migration routes along the Eastern Shore. “Snow Island will continue to work with local communities, regulators and stakeholders to establish a responsible, world class salmon farming model that will bring new economic opportunities to rural Nova Scotia.” A Department of Fisheries and Aquaculture public meeting gathered input in February and the minister and department have continued consultations. The two other applications are in the review stage. “This government is committed to science-based decisions that strike the right balance between environmental concerns and allowing the industry to develop in a sustainable way,” said Mr. Belliveau. Nova Scotia’s aquaculture industry is one of the most diverse in the world. The province cultivates many different species of finfish and shellfish, as well as Irish moss and other sea plants, and has the largest land-based production facility in the world. The aquaculture sector is a significant contributor to the economies of rural and coastal communities, with worth about $50 million annually and supporting 750 direct and more than 1,000 indirect jobs.last_img read more

Province Commits to Improve Services for Children

first_imgThe province has committed to complete child protection investigations more quickly, have more timely contact with children in foster care, and improve interactions with foster families. Community Services Minister Denise Peterson-Rafuse said today, May 22, the province will accept all of the auditor general’s recommendations to improve services for children and families. The auditor general examined the Department of Community Services child welfare section, reviewing child protection investigations, monitoring of children in care and support for foster parents. “Taking the best possible care of our province’s children is a high priority,” said Ms. Peterson-Rafuse. “We take these recommendations seriously and have already begun to implement changes. We are deeply committed to improving upon our best practices in child welfare.” The auditor general noted in his report that the department’s responses to allegations of abuse and neglect, assessment of risk to children and prioritizing investigations based on risk assessments are working well. But he also identified the need to improve monitoring of children in foster care, families under court supervision and foster families. The department has been meeting targets for mandatory requirements and now needs to address improving timeframes for the non-mandatory standards. “We have dedicated staff working in challenging circumstances, but we recognize there are areas where we can improve our practice,” said Ms. Peterson-Rafuse. The department is addressing the auditor general’s recommendations: Sheila Hill, a member of the Dialogue with Foster Parents group, lives on Janvrin’s Island, Richmond Co., and has been a foster parent for 12 years. “We’re working together hand-in-hand with Community Services through the Dialogue with Foster Parents group. We recognize that there are areas to work on and we have been meeting and talking for more than a year,” said Ms. Hill. “The relationship is moving in a positive direction now; I really feel supported by the team, and the minister, at Community Services. I believe strongly that if we all work together as a foster care team, we will achieve the best outcomes for our children in care and they will go on to have productive lives.” There are 1,315 children in care, with 876 of those in permanent care and custody. There are close to 700 foster homes in Nova Scotia and 22 residential facilities that offer specialized services. The number of adoptions of children in care during 2012-13 was 122. There were 9,935 child protection referrals made to Community Services in 2012-13, which prompted 6,601 child protection investigations, with 1,249 child protection cases opened and 534 children taken into care. expanding file audits for foster care clarifying response times for child abuse or neglect investigations and committing to following them scheduling updates for the child protection and foster care manuals documenting approvals and rationale for investigation longer than six weeks better documenting case checklists monitoring the time taken to approve foster families clarifying kinship foster family policies improving Comprehensive Plans of Care for all children committing to hold contact meetings at required intervals clarifying dental standards for children ensuring supervisory reviews happen on a defined timeline following standards for meeting and reviewing foster families last_img read more

Most Provincial Parks Opening Friday

first_imgNearly all provincial day-use parks and several camping parks are set to open Friday, May 18. “Nova Scotians and visitors can explore nature and spend quality time with their friends and families when they visit a provincial park,” said Natural Resources Minister Margaret Miller. “We invite everyone to enjoy camping, swimming, paddling, geocaching or other activities this season.” The rest of the camping parks, as well as their day-use areas, will open in early June. Park users can check the provincial parks’ website for opening dates. Reservations for camping sites can be made by phone, toll free, at 1-888-544-3434 or online at, http://parks.novascotia.ca . Camping parks had a successful 2017 season with a 13 per cent increase in bookings over the previous year. This season will offer innovative programming to help Nova Scotians explore parks and discover camping, including the return of the Grade 4s Outdoors and the Learn to Camp programs. More recreational and interpretive park events set for the 2018 season can be found at, http://parks.novascotia.ca . More than a million people visit Nova Scotia’s provincial beaches and parks each year.last_img read more

CPIM en route to extinction in Bengal

first_imgKolkata: The Left Front, which had ruled Bengal for 34 long years, has failed to open account in the 2019 Lok Sabha polls. In 2014, CPI(M) had MPs Mohammed Salim and Bodruddoza Khan. While Khan had won by over 18,000 votes from Murshidabad, Salim was elected from Raigunj by a margin of 1,681 votes.A few days before the elections, CPI(M) general secretary Sitaram Yechury had said that the party would score like Lionel Messi. However, the result shows that instead of scoring, the party has conceded same-side goals. Ina bid to take revenge on Mamata Banerjee, who has sealed the fate of the party in Bengal, CPI(M) has decided to vote for BJP. The poll trend shows that 23% of CPI(M)’s votes have been transferred to BJP. In the 2014 Lok Sabha election, CPI(M) had got 28% votes, which has now come down to only 5%. Also Read – City bids adieu to Goddess DurgaThis transfer of votes has become suicidal for the party. CPI(M) had fielded star candidates like Nandini Mukherjee in South Kolkata and former Mayor Bikas Ranjan Bhattacharya in Jadavpur. While Mukherjee has emerged as a distant second in South Kolkata, Bhattacharya has occupied the third position in Jadavpur. The party had fielded Gargi Chatterjee in Barrackpore, Kaninika Ghosh Bose in North Kolkata and Nepaldeb Bhattacharya in Dum Dum, but none of them could put up any resistance against the Opposition. Front partners RSP, Forward Bloc and CPI had earlier alleged that CPI(M) was backing BJP everywhere.last_img read more

Course correcting the economy

first_imgA majoritarian government with a thumping mandate has its work cut out. There is no time to fumble or experiment, the Narendra Modi government has to urgently sow several gaping holes in the economy that are causing economic distress. Modi’s mixed crew of new and old have the undaunting task of getting the economy back on track. Kickstarting growth is essential and it will entail a synchronised working of several ministries within the government. Also Read – A staunch allyModi 2.0 may have been voted back to power for a lot of things but economic progress is hardly one of them. In his first tenure, India’s GDP is slowing in every quarter (a steep drop of almost 2 per cent), FDI as a percentage of GDP was worryingly lower than in 2006, and joblessness was at a 45-year high. Less investment, high unemployment also means muted domestic consumption. One of the biggest indications of a stymied economy is the lack of domestic consumption. Also Read – Cuban pathosThe people of India who had voted for Modi’s ‘vikas’ in 2014 have once again reposed faith in his government to fix issues; there are several of them. Today, the economy is in a virtual coma requiring resuscitation. If the government once again resorts to AEDs such as the blundering demonetisation, it would end up flatlining the economy instead. It is time for hardnosed economists and policymakers to take up the reins of the economy, helping and guiding the country out of this economic mess. The government needs to quickly set its course within the first 100 days – jumpstart private investment, encourage demand, simplifying tax structures and their compliance. With the Budget likely to be tabled in July, it is also time for the government to put back money into the hands of the people by reducing their personal tax burden. A look at the 20-40 per cent drop in auto sales and the consequential reduction of the production of automotive giants shows the true picture. Indian exports need a leg-up and India must take advantage of the US-China stalemate. The government must urgently spell out reforms in labour and land acquisition, which will aid the industry in general and infrastructure development in particular. India needs foreign investment, and policies such as the e-commerce policy that seems to benefit ‘desi’ companies like the Ambanis over the Jeff Bezos of the world, prove to be detrimental. Monetising public assets, disinvestment, stabilising the banking sector, reducing GST, combating widening trade deficit, and strengthening the agrarian sector and the farmer, would further help in course correction. India desperately needs more liquidity in its system. Therefore, lowering interest rates, greater impetus on infrastructure development, government spending and boosting manufacturing are all dearly needed. In this stint, Modi must also give back to the Indian institutions their respect and credibility. No more interfering with the Reserve Bank of India (RBI) or getting other institutions to toe the government line. Allowing them to function independently is the best chance for Modi 2.0 to redeem the missteps of the past. The people of India have chosen Narendra Modi to steer the nation from impending economic doom. Only with the help of knowledgeable, experienced economists and policymakers can this be achieved. We cannot afford another five years of stunted growth, lack of private investment and lower consumer demand. The country needs an agile plan; and here’s hoping that the government is already making one. (The writer is a journalist and media entrepreneur. The views expressed are strictly personal)last_img read more

Rave party busted in South Delhi 8 arrested

first_imgNew Delhi: The Delhi Excise Department and police busted a party in South Delhi’s and recovered drugs, which was allegedly sold to guests.A senior officer claimed it as a rave party, which was going on in Dhan Mill compound. Police sources said that more than 200 persons were present at the party when raid happened. Additional Deputy Commissioner of Police (South) Parminder Singh said that in the intervening night of June 8-9, a joint team of excise department led by ACP Alok Kumar and South district police had conducted a raid after getting inputs about violation of excise liquor’s licence and suspected supply of drugs in one of the premises, within the sprawling DHAN MILL compound, 100 Foota Road, Chatterpur Pahadi area, Mehrauli. Also Read – Cylinder blast kills mother and daughter in Karawal Nagar”It was also ascertained that the organisers were charging Rs.500/- per unit from the guests for the liquor/ beer being served there. One Pulkit on behalf of organisers claimed that they had a valid liquor licence P 10 for the purpose of serving a limited quantity of beer/liquor,” said Add DCP (South Delhi). However, huge quantity ( much more than the numbers mentioned in the licence)of hard liquor were found at the make shift counters. Pulkit who happened to be main coordinator in organising this zig was arrested along with the cashier and driver of the SUV, in which liquor in violation of licence terms was found. Also Read – Two persons arrested for killing manager of Muthoot FinanceHe revealed that the whole event was organised by one Gaurav Mavi of Noida and Ali redsient of Noida, both dealing in property business and both of them fled from spot when the Raid was conducted. “Cash rupees 5.43 lakhs from sale proceeds of liquor, pills and entry fees reportedly charged by the organisers,” added Singh. Police said they also seized 17 dark brown pills, 21 pink colour tablets. The Delhi Police has registered cases under appropriate sections of the Excise and Narcotic Drugs and Psychotropic Substances Act at Mehrauli police station, adding further investigation in the matter is underway. The officer said that 16 persons who had organised the party have been detained for questioning in which eight were arrested including organisers. The party was organised in the name of a foreign DJ. The police sent two decoy policemen who carried two Rs 2, 000 notes and ordered some drinks as they clicked photographs of the guests.last_img read more

Civic volunteer killed in Murshidabad

first_imgKolkata: Sajibur Rahman (29), a civic volunteer was allegedly murdered by another civic volunteer Motahar Shaikh at Jalangi in Murshidabad. Two police personnel suffered injuries while they were trying to save Rahman and had to be admitted to hospital.According to sources, Sajibur and Motahar were posted at the Jalangi police station. On Tuesday night, Sajibur came to know that some persons were trying to smuggle cattle. He was instructed by his duty officer to work on the information. Sajibur reached Barabila as tipped- off by sources and seized two cattle but failed to detain the smugglers. Also Read – City bids adieu to Goddess DurgaHowever, the cattle belonged to Chhaber Shaikh, who was a relative of Motahar. When he reached the designated place where the seized cattle by the cops are kept, Motahar along with Chhaber arrived there and started beating Sajibur. Motahar took out a sharp weapon and stabbed him multiple times. Hearing him scream, two police personnel who were nearby came to rescue Sajibur. One of them identified as Jahangir Alam said he was attacked by Motahar and Chhaber when he tried to stop them. Hearing the injured people screaming in pain, local residents rushed to help. Seeing the locals, Motahar and Chhaber fled the scene. The trio was rushed to Sadhikhnar rural hospital where Sajibur was declared brought dead by doctors. Two police personnel were shifted to Murshidabad Medical College and Hospital. Police arrested Motahar and Chhaber for allegedly killing Sajibur and murder attempt on cops.last_img read more

Jaishankar to get Manojs Tughlak Road residence

first_imgNew Delhi: External Affairs Minister S Jaishankar is likely to be allotted former Union minister Manoj Sinha’s Tughlak Road residence, sources said.Sinha, who was telecom minister in the previous Narendra Modi government, lost the Lok Sabha election from eastern Uttar Pradesh’s Ghazipur constituency. Sources also said that first-time minister Pratap Sarangi has been allotted the 10, Pandit Pant Marg bungalow, which was given to former BJP MP Hukamdev Narayan Yadav, near the Delhi BJP office. Also Read – Cong may promise farm loan waiver in HaryanaSarangi, an MP from Odisha’s Balasore, is the Minister of State in the Ministry of Micro, Small and Medium Enterprises and the Ministry of Animal Husbandry, Dairying and Fisheries. Human Resource Development Minister Ramesh Pokhriyal ‘Nishank’ may move to 27, Safdarjung Road bungalow, which was allotted to Congress leader Jyotirditya Scindia who lost the Lok Sabha election. “External Affairs Minister S Jaishankar has been allotted the 12, Tuglak Road residence in central Delhi, while the HRD minister has been given the 27, Safdarjung Road,” a source said. Sources said that the allotment is subject to vacation of bungalows by their existing holders. Also Read – Modi formed OBC commission which earlier govts didn’t do: ShahFormer foreign secretary S Jaishankar is a seasoned diplomat who was the Indian government’s pointsman for China and the US. Jaishankar, son of late K Subrahmanyam, one of India’s leading strategic analysts, was a key member of the Indian team which negotiated the landmark Indo-US nuclear deal. Union Parliamentary Affairs, Coal and Mines Minister Prahlad Joshi has bene allotted the 10, Akbar Road bungalow previously occupied by former minister Mahesh Sharma. Earlier this month, Home Minister Amit Shah was allotted late prime minister Atal Bihari Vajpayee’s residence on Krishna Menon Marg. Vajpayee had moved to the Krishna Menon Marg bungalow in 2004 after his government was voted out, and stayed there with his family for nearly 14 years. His family vacated the house last November after his death in August.last_img read more

Rohits dismissal vs WI raises questions on DRS

first_imgManchester: India opener Rohit Sharma’s dismissal against the West Indies on Thursday created quite a flutter as opinion got divided on social media on whether he was actually out or not. It also once again raised questions on the precision of the Decision Review System (DRS). India limited-overs deputy Rohit was looking in good touch (on 18 off 22 balls) when a Kemar Roach delivery pitched on good length and jagged back sharply, kissing what the Windies thought was the inside edge of Rohit’s bat. Also Read – Djokovic heaps praise on ‘very complete’ MedvedevThe onfield umpire turned down the appeal, but Jason Holder and boys decided to review it. The third umpire overturned the umpire’s decision and Rohit was adjudged to have nicked the ball as he left a gap between bad and pad, with Roach and the Windies celebrating. The verdict left Rohit flabbergasted as he walked off shaking his head. This once again pointed fingers at DRS and it’s judgment at all times as it could not be clear still whether the nick was of the bat or the pad as the ball seemed to have hit both bat and pad at the same time. The snickometer did show movement, but it was clearly a decision that could have gone either ways.last_img read more

Budget based on rigorous plan realistic estimates FM Nirmala

first_imgNew Delhi: Answering critics of her maiden Budget, Finance Minister Nirmala Sitharaman Friday said every estimate in the Budget 2019-20 was “realistic” and that the focus on agriculture and investments lay foundation for nearly doubling size of the economy to $5 trillion in five years. Replying to the debate on the Union Budget in Rajya Sabha, she said adequate provisions for expenditure particularly for defence, pension and salary and internal security have been provided for with necessary mobilisation of tax and non-tax resources. Also Read – Maruti cuts production for 8th straight month in SepShe said the big picture presented in the Budget is backed with a plan to increase investment without compromising on the fiscal consolidation roadmap. “It is not without a plan,” she said on increasing the size of the economy from $2.7 trillion to $5 trillion by 2024-25. Besides focus on agriculture, the plan includes increasing investment coming by way of further liberalisation of FDI rules, lowering of corporate tax to 25 per cent to companies with turnover of upto Rs 400 crore, tax cut on electric vehicles, widening scope of voluntary pension scheme for retail traders and shopkeepers and giving push to infrastructure development with an investment of Rs 100 lakh crore over the next five years. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to CustomsPro-growth measures include reduction in import duty on some raw material and boosting ‘Make in India’, widening scope of cash support to farmers and constitution of a five-member Cabinet Committee on Investment and Growth under Prime Minister for taking comprehensive steps, she said. Rebutting former finance minister P Chidambaram’s assertion of “unachievable” tax projections, she read out numbers to say income tax, excise and GST collection targets are achievable. While excise collections will boost with Rs 2 per litre increase in tax on petrol and diesel and an amnesty scheme, GST collections will boost by over 14 per cent on simplified return filing and tracking of evasion. On his assertion that the Budget for 2019-20 did not have any “bold structural reforms” which should have come with the massive mandate the BJP got in recent elections, Sitharaman said the Goods and Services Tax (GST) introduced in July 2017 and Insolvency and Bankruptcy Code brought in 2016 were structural reforms. She went on to list 16 reforms such as bank recapitalisation and direct benefit transfer (DBT) done in the first term of the Modi government. To criticism of her Budget speech on July 5 not featuring allocations, she read out allocations made in schedules such as employment guarantee scheme, irrigation, rural roads, drinking water, health, education, crop insurance and mid-day meal scheme to say funds made available for 99 schemes having impact on common man have all gone up. Sitharaman said inflation has not been allowed to raise it head and keeping it under tight control is “a powerful tool to gauge” achievement of the government. The Budget has given a vision, she said. “It is a vision for 10 years with a mid-course target of $5 trillion economy we wish to reach.” “Budget reflects firm commitment to boost investment in agriculture, and social sector particularly healthcare,” she said. On the Economic Survey, prepared by the Chief Economic Adviser to the Finance Ministry, and the Budget 2019-20 giving different numbers, she said statistics in both documents are all authentic but used different base. “Every estimate of projection given are realistic. Projection made in Budget are realistic and adequately provided,” she said. Sitharaman said over the last five years, public sector banks have been recapitalised by Rs 3.19 lakh crore. “NPA problem has been comprehensively addressed by the government.” On farmer support schemes, she said extending scope of cash support of Rs 6000 to every farmer, giving 50 per cent margin of profit on cost of production and timely announcement of MSP increase will help double farmer income by 2022. Sitharaman on Friday spent almost half her speech in making a point by point rebuttal to Congress leader and former Finance Minister P Chidambaram, who raised doubts over government’s vision of making India a $5 trillion economy in five years.last_img read more

PMKISAN scheme Centre seeks Delhis cooperation

first_imgNEW DELHI: The Delhi government should cooperate in implementing the newly launched central scheme Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) under which Rs 6,000 is paid in three equal instalments annually to each farmer who owns land, Minister of State for Agriculture Parshottam urged. The Centre had launched the PM-KISAN scheme just before the Lok Sabha elections. Most states are implementing the scheme barring few states especially Delhi and West Bengal. Also Read – After eight years, businessman arrested for kidnap & murderReplying to supplementaries in the Question Hour at Rajya Sabha, the Minister said, “Farmers in Delhi have not been able to benefit from the PM-KISAN because the state government has not yet submitted the required data of registered farmers.” The Centre is ready to release funds once the data is submitted to the Union Agriculture Ministry, he said. “There are some issues related to land…. The state government should cooperate in implementing the scheme,” the Minister said in the Upper House. After coming to the power, the Modi government extended the scheme to all 14.5 crore farmers subject to exclusion criteria. Earlier, the scheme was restricted to small and marginal farmers holding up to 2 hectare land. The responsibility of identifying and uploading details of beneficiaries solely lies with state governments, the Minister of State for Agriculture Parshottam said.last_img read more

Singapore makes largest ever illegal ivory seizure

first_imgSingapore: Singapore has made its largest ever seizure of smuggled ivory, impounding a haul of nearly nine tonnes of contraband tusks from an estimated 300 elephants, authorities said Tuesday. The illegal cargo, discovered Monday in a container from the Democratic Republic of the Congo being shipped to Vietnam via Singapore, also included a huge stash of pangolin scales — the third such seizure in as many months. Officials said both the ivory and pangolin scales were in a container declared to be loaded with timber destined for Vietnam and passing through Singapore, a major transhipment hub for global trade. Also Read – Saudi Crown Prince ‘snubbed’ Pak PM, recalled jet from USOn inspection, authorities found 8.8 tonnes of elephant ivory, the National Parks Board, Customs and Immigration and Checkpoints Authority said in a joint statement. The ivory haul was valued at 12.9 million and is “the largest seizure of elephant ivory in Singapore to date”, it said, and was estimated to have come from 300 African elephants. Also found in the container were 11.9 tonnes of pangolin scales and estimated to be worth about 35.7 million. The scales were estimated to have come from 2,000 of the mammals.last_img read more

Chandrayaan2 to reach moons orbit on August 20 ISRO

first_imgAhmedabad: India’s second moon mission ‘Chandrayaan-2’ is expected to reach the moon’s orbit on August 20 and land on the lunar surface on September 7, Indian Space Research Organisation (ISRO) Chairman Dr K Sivan said on Monday. The spacecraft is all set to leave the earth’s orbit after two days, he told reporters here. Sivan was on the city to take part in the birth centenary celebrations of Dr Vikram Sarabhai, regarded as the father of India’s space programme. Also Read – India gets first tranche of Swiss bank a/c details The 3,850-kg Chandrayaan-2, a three-module spacecraft comprising orbiter, lander and rover, which was launched on July 22, would make a landing on the moon on September 7, the ISRO chief said. “After launching Chandrayaan-2 on July 22, we did five maneuvers. The Chandrayaan-2 composite body is now revolving around the earth,” he said. The next very important and crucial maneuver will happen on Wednesday morning. “At around 3.30 am on August 14, we are going to have a maneuver called trans-lunar injection. By this maneuver, the Chandrayaan-2 will leave the earth and move towards the moon. Also Read – Tourists to be allowed in J&K from Thursday On August 20, we will be reaching the moon,” he said. “Then, we will be carrying out lunar orbit insertion. By this process, the Chandrayaan-2 will be around the moon on August 20. Subsequently, we have planned to have a series of maneuvers around the moon and finally on September 7, we will be landing on the moon near its south pole,” he added. Sivan said the spacecraft was “doing very well” at present and all its systems were functioning properly. He said scientists at the ISRO will be busy in coming months, particularly in December when the space agency would take up a mission to launch small satellites. “In December, we are going to have a very important mission. It’s a small satellite launcher. This is for the first time we are going to have this mission,” he said.last_img read more

Man slapped with Rs 23000 fine for trafficrelated violations

first_imgGurugam: Barely two days after the implementation of the Motor Vehicles (Amendment) Bill 2019, a Delhi resident was issued a challan of Rs 23,000 by the Gurugram Police on Tuesday for flouting several rules.According to the challan issued by the police, Madan was fined Rs 5,000 for not carrying his driving licence, Rs 5,000 for not producing the Registration Certificate, Rs 2,000 for not having third-party insurance, Rs 10,000 for violating pollution standards and Rs 1,000 for not wearing a helmet. Also Read – After eight years, businessman arrested for kidnap & murderThe person identified as Dinesh Madan was fined near the Gurugram court. Speaking on the issue, Madan said, “I am shocked and have not been able to sleep at night. This amount is very big. I told the cops that all documents are at home and I will show it to them but they asked for my keys and said that my scooter will be impounded.” Reportedly, Madan has refused to pay the fine as he says his second-hand scooter itself costs Rs 15,000. He is learned to have left his scooter with the authorities. Also Read – Two brothers held for snatchings”As Madan was not wearing his helmet, he was stopped by the on-duty traffic personnel. He was unable to produce his documents when asked for them. Hence, the challan was issued,” the traffic police officer who was prsent at the location said. The Gurugram police have been proactive in levying fines on the traffic offenders ever since the new Motor Vehicles Act has been set in from September 1. On day one, most of the fines that were levied were on the offenders who were not wearing the seat belts and helmets. One of the major challenges however being faced by the law enforcement officials is the lack of upgradation of the software that is resulting in the delay in the process of levying of fines. “Our officials are on the ground to ensure that no violations that are committed. One of the major challenges faced by our officials is the lack of upgraded software that is delaying the process of levying the fines in certain cases,” said a senior official from Gurugram police.last_img read more