Month: July 2019

PM attacks Cong on loan waiver promises

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first_imgDecember 29, 2018 SHARE SHARE EMAIL Prime Minister Narendra Modi (file photo).   –  THE HINDU loan waivers Prime Minister Narendra Modi continued Saturday with his attack on the Congress over its “unfulfilled” loan waiver promises.Addressing a public meeting here, Modi said only a small number of loans were waived in Karnataka after the recent assembly elections in the state, where a JD(S)-Congress government is now in power.He laid the foundation stone of a medical college here and released a commemorative postal stamp on Maharaja Suheldev. “Several important steps have being taken to transform Purvanchal into a big medical hub and to strengthen the small industries of UP,” he said.The Prime Minister will also address a meeting in Varanasi later in the day. Uttar Pradesh BJP COMMENT parties and movements Ingersoll-Rand (India) Ltd SHARE Published on COMMENTSlast_img read more

Kashmir parties for simultaneous assembly LS polls

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first_imgSHARE Published on COMMENT March 04, 2019 Jammu and Kashmir Chief Election Commissioner Sunil Arora (file photo)center_img COMMENTS The political parties of Kashmir on Monday impressed upon the Election Commission of India (ECI) to hold the assembly polls in Jammu and Kashmir simultaneously with the upcoming Lok Sabha elections. The ECI on Monday began a two-day visit to the state to assess the feasibility of holding the Lok Sabha and the assembly polls simultaneously. Delegations of National Conference, Peoples’ Democratic Party, Pradesh Congress Committee and other smaller parties met the ECI team headed by Chief Election Commissioner Sunil Arora to put forth their views about holding of assembly elections in the state.Hold elections ‘as soon as possible’The officials said the team will leave for Jammu later in the day and hold similar interactions there tomorrow. “We impressed upon the Election Commission that there is no reason why Assembly elections cannot be held simultaneously with the Lok Sabha elections. Not holding assembly polls will send wrong signals to people within and outside the state,” NC leader Nasir Aslam Wani, who was part of his party’s delegation, told PTI after the meeting. Wani said the NC delegation informed the commission that restoration of an elected government in the state was urgently needed as the Governor’s administration was taking decisions on matters with widespread implications. PDP delegation leader Abdul Rehman Veeri said his party also wanted an early election to the state assembly so that a people’s government is put in place. Asked if PDP delegation had sought assembly polls be held alongside Lok Sabha elections, Veeri was non-committal. “The elections should be held as soon as possible,” he said.‘Bureaucrats’ government’Congress leader Taj Mohiuddin said his party delegation highlighted the fact that holding assembly elections together with Lok Sabha elections can lead to higher voter turnout as was witnessed in 2008 assembly polls. “We told the Election Commission how in 2008 assembly elections a high voter turnout was witnessed when people doubted about holding the polls. Our stand was that the Commission has all the data about security deployment in 2008 and it should be easy for them to assess the requirements for this year’s election as well,” he said. Mohiudding said while the Governor’s administration might be doing its job well, President’s Rule cannot be an alternative to an elected government in terms of redressal of problems faced by the people. “The MLAs are the link between the government and the people and no one can replace this link. The government under President’s Rule is bureaucrats’ government. They are not accessible to common people,” he said. CPI(M) delegation led by M Y Tarigami told the Commission that the democratic process in Jammu and Kashmir should be resumed at the earliest and advocated holding Lok sabha and state assembly polls together in the state. “Jammu and Kashmir state is without an elected government for the past nine months and in the absence of an elected government, uncertainty in the state is deepening day-by-day and dissatisfaction among large section of people is increasing,” Tarigami said.“Only effective response to this situation is to initiate democratic process and hold elections to Assembly and Lok Sabha simultaneously. Any delay to do so will hamper the process of improvement in the situation,” he added.Assessing ground realities The ECI team, headed by Chief Election Commissioner Sunil Arora, began interactions with political parties soon after their arrival in the summer capital, officials said. They said the team will meet with officials of the state government, including the Deputy Commissioners and the district police chiefs, to get a briefing on the security situation in the state.The state is currently under President’s Rule since December 19, 2018 which was necessitated at the end of the six month period under Governor’s Rule imposed on 19 June 2018. The PDP-BJP government in the state fell on June 19 after the national party pulled out of the coalition. SHARE SHARE EMAIL electionslast_img read more

Malakoffs Saudi assets purchase to fill earnings gap

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first_imgKUALA LUMPUR: Kenanga research expects improved sentiment for Malakoff Corp Bhd for raising its stake in Saudi Arabia’s water and power plant assets.Following the announcement, the research house raised the stock to outperform at a higher target price of RM1 from 90 sen previously.It said in a note that the move will boost its bottomline by 18% while filling the earnings gap left by the expired Port Dickson power plant’s PPA extension and tariff cut at Segari Energy Ventures.Malakoff announced yesterday it had entered an agreement to acquire the entire stake in Desaru Investment Ltd (DIL) from Khazanah for US$70mil. Property 12 Jul 2019 Malakoff to acquire Khazanah’s stake in Desaru Investments DIL is a 40% stakeholder in a Malaysian consortium comprising a 40% stake in Malakoff and a 20% stake in Tenaga, which owns about 30% share in two independent water and power plants in Saudi Arabia.With the purchase, Malakoff will double its stake in these two assets to 24% each in 4Q19.”In the past three years, the combined associate incomes from these two assets were RM46.8m/RM57.6m/RM47.5m which made up 14%/20%/21% group’s core profit, respectively. “As such, upon completion of the acquisition, contributions from these two assets are important as they could make up a-third of the group earnings,” said Kenanga.The independent water and power plants are the first and largest in Saudi Arabia as well as the main water suppliers for the Makkah province. They also form 13% of power and water capacity for the country, and have remaining concession periods of about 10 years.According to Kenanga, the acquisition is priced at EV/EBITDA of c.8x which it believes is fairly reasonable, being quite close to MALAKOF’s FY18 EV/EBITDA of 7.8x.”Assuming yearly contribution of RM47.5m for the next 10 years at 12% effective stake, total earnings collections could be RM475m which is 66% higher than the acquisition price of c.RM287 (USD70m @ 4.10), without taking into account the time value of money, a seemingly good deal,” it said. Related News Travel 11 Jul 2019 KL Tops Holiday Destinations For Saudi Arabia Travellers World 11 Jul 2019 Saudi Arabia moves to secure Yemen Red Sea ports after UAE drawdowncenter_img {{category}} {{time}} {{title}} Tags / Keywords: Corporate News Related Newslast_img read more

Solan 7 dead after building collapses rescue operation underway

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first_img India Today Web Desk New DelhiJuly 14, 2019UPDATED: July 15, 2019 06:11 IST The incident happened on Sunday afternoon near the Kumarhatti-Nahan highway in Solan. (Photo: ANI)HIGHLIGHTS7 persons are still trapped under the debrisThe incident happened at around 4 pmHeavy rains hampering the rescue operationAt least seven people died after a guest house building collapsed owing to heavy rains in Solan district in Himachal Pradesh. The deceased include one civilian and six Army personnel. Some Army personnel are also said to be trapped under the debris of the building.The building that collapsed in Kumarhatti was a ‘Dhaba’. The rescue teams are carrying out the rescue operations and according to news agency ANI, seven persons are still trapped under the debris.The incident happened at around 4 pm on Sunday near the Kumarhatti-Nahan highway in Solan.According to the initial reports, the Army personnel had stopped to have their lunch at the place where the building has collapsed. Eyewitnesses have said that there was an Army troop from Nahan and two families inside the building.Director-cum-Special Secretary Revenue and Disaster Management DC Rana had earlier said that 25 people are stuck under the debris.”A total of 25 persons were on the spot. It is raining heavily. NDRF team from Panchkula moving,” he said. Heavy rains were hampering the rescue operation.Deputy Commissioner K.C. Chaman told the media that a rescue operation was on to save the people still trapped inside, adding that the injured have been admitted to nearby hospitals.Also Read | Karnataka: 1 dead, 8 rescued as under-construction building collapses in BengaluruAlso Read | Assam floods: School building collapses in seconds as Brahmaputra water level crosses danger mark | WatchAlso Watch | In Depth: Decoding the link between floods and droughtsFor the latest World Cup news, live scores and fixtures for World Cup 2019, log on to Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byChanchal Chauhan Solan: 7 dead after building collapses, rescue operation underwaySome Indian Army personnel are said to be stuck under the debris of the guest house building in Solan. The rescue operation is underway. advertisement Nextlast_img read more

UP law panel drafts stringent law for mob lynching recommends life term

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