General Affairs
Soldier Rescued After Avalanche In Ladakh Dies, Another Still Missing
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JAMMU: Two soldiers got buried under snow in Ladakh's Turtuk today after an avalanche struck an army patrol this morning. One of the soldiers who was rescued has died; the other is still missing.
Lance Havildar Bhawan Tamang was immediately retrieved and evacuated to the nearest medical facility, but could not be revived by the medical team, the army said.
"Massive efforts are on to locate the missing soldier, in spite of inclement weather in the area," the Army added.
Turtuk is one of the gateways to the Siachen glacier, where one of the worst avalanches took place in February, killing 10 soldiers.
"Medium danger" warning exists for avalanche prone areas situated at an altitude of above 3,000 metres - including Kupwara, Baramulla, Bandipur, Kargil and Gandarbal districts.
Till date, more soldiers have died because of the weather and terrain in the world's highest battlefield, than as a consequence of any India-Pakistan stand-off.
A "medium danger" avalanche warning, starting at 5 pm today, has been issued today for higher areas of Jammu and Kashmir. People have been asked not to venture out in these areas.
The advisory, issued by Chandigarh-based Snow and Avalanche Study Establishment which is under the Ministry of Defence, will remain effective for 24 hours.
JAMMU: Two soldiers got buried under snow in Ladakh's Turtuk today after an avalanche struck an army patrol this morning. One of the soldiers who was rescued has died; the other is still missing.Lance Havildar Bhawan Tamang was immediately retrieved and evacuated to the nearest medical facility, but could not be revived by the medical team, the army said.
"Massive efforts are on to locate the missing soldier, in spite of inclement weather in the area," the Army added.
Turtuk is one of the gateways to the Siachen glacier, where one of the worst avalanches took place in February, killing 10 soldiers.
"Medium danger" warning exists for avalanche prone areas situated at an altitude of above 3,000 metres - including Kupwara, Baramulla, Bandipur, Kargil and Gandarbal districts.
Till date, more soldiers have died because of the weather and terrain in the world's highest battlefield, than as a consequence of any India-Pakistan stand-off.
A "medium danger" avalanche warning, starting at 5 pm today, has been issued today for higher areas of Jammu and Kashmir. People have been asked not to venture out in these areas.
The advisory, issued by Chandigarh-based Snow and Avalanche Study Establishment which is under the Ministry of Defence, will remain effective for 24 hours.
Pathankot Attack: India Issues Visa To Pakistan Probe Team
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NEW DELHI: India today issued visas to five members of a Pakistani Joint Investigation Team (JIT) who will travel to the country on Sunday to carry forward the probe into the Pathankot Air Base attack, blamed on Pakistan based Jaish-e-Mohammad (JeM) militants.
"We have issued visas to five Pakistani officials, who will be going to India to get evidence about the Pathankot attack," an Indian High Commission spokesperson said.
The members of the JIT are scheduled to leave for India on March 27.
The five-member probe team comprises senior officials from both the military intelligence as well as civil administration and is headed by the Chief of Punjab Counter Terrorism Department (CTD) Additional Inspector General of Police Muhammad Tahir Rai.
Other members include Lahore Deputy Director General Intelligence Bureau Mohammad Azim Arshad, Inter-Services Intelligence (ISI) Lt Col Tanvir Ahmed, Military Intelligence Lt Col Irfan Mirza and Gujjaranwala CTD Investigating Officer Shahid Tanveer.
This will be the first time that Pakistani intelligence and police officials are travelling to India to investigate a terror attack.
The team is expected to examine the weapons used by the terrorists carrying out the assault on Indian Air Force base in Pathankot besides recording the statements of the victims, Pakistani media reports said.
Earlier, Pakistan had constituted a six-member Special Investigation Team (SIT) for the initial probe into the case based on the leads provided by India.
India had agreed to allow the Pakistani JIT to visit the Pathankot Air Base after External Affairs Minister Sushma Swaraj met with her Pakistani counterpart Sartaj Aziz in Kathmandu on the sidelines of SAARC Ministerial meeting on March 17.
Ms Swaraj had said that the Pakistani investigators will reach India on March 27 and will begin their work on 28.
India has been pressing Pakistan for action over the assault on the key Indian Air Force base on January 2 in which seven Indian security personnel were killed. In the gun-battle, six terrorists were also killed.
The attack led to the postponement of a scheduled meeting between Foreign Secretaries of Pakistan and India in January in Islamabad.
On February 18, Pakistan had lodged a First Information Report or FIR in connection with the Pathankot terror attack without naming JeM chief Masood Azhar who India has accused of having masterminded the strike.
The FIR by the Counter-Terrorism Department of Punjab police was lodged on the basis of information provided by National Security Adviser Ajit Doval that the attackers crossed from Pakistan into India and attacked the airbase.
NEW DELHI: India today issued visas to five members of a Pakistani Joint Investigation Team (JIT) who will travel to the country on Sunday to carry forward the probe into the Pathankot Air Base attack, blamed on Pakistan based Jaish-e-Mohammad (JeM) militants."We have issued visas to five Pakistani officials, who will be going to India to get evidence about the Pathankot attack," an Indian High Commission spokesperson said.
The members of the JIT are scheduled to leave for India on March 27.
The five-member probe team comprises senior officials from both the military intelligence as well as civil administration and is headed by the Chief of Punjab Counter Terrorism Department (CTD) Additional Inspector General of Police Muhammad Tahir Rai.
Other members include Lahore Deputy Director General Intelligence Bureau Mohammad Azim Arshad, Inter-Services Intelligence (ISI) Lt Col Tanvir Ahmed, Military Intelligence Lt Col Irfan Mirza and Gujjaranwala CTD Investigating Officer Shahid Tanveer.
This will be the first time that Pakistani intelligence and police officials are travelling to India to investigate a terror attack.
The team is expected to examine the weapons used by the terrorists carrying out the assault on Indian Air Force base in Pathankot besides recording the statements of the victims, Pakistani media reports said.
Earlier, Pakistan had constituted a six-member Special Investigation Team (SIT) for the initial probe into the case based on the leads provided by India.
India had agreed to allow the Pakistani JIT to visit the Pathankot Air Base after External Affairs Minister Sushma Swaraj met with her Pakistani counterpart Sartaj Aziz in Kathmandu on the sidelines of SAARC Ministerial meeting on March 17.
Ms Swaraj had said that the Pakistani investigators will reach India on March 27 and will begin their work on 28.
India has been pressing Pakistan for action over the assault on the key Indian Air Force base on January 2 in which seven Indian security personnel were killed. In the gun-battle, six terrorists were also killed.
The attack led to the postponement of a scheduled meeting between Foreign Secretaries of Pakistan and India in January in Islamabad.
On February 18, Pakistan had lodged a First Information Report or FIR in connection with the Pathankot terror attack without naming JeM chief Masood Azhar who India has accused of having masterminded the strike.
The FIR by the Counter-Terrorism Department of Punjab police was lodged on the basis of information provided by National Security Adviser Ajit Doval that the attackers crossed from Pakistan into India and attacked the airbase.
Assam Polls: BJP's Vision Document Promises Crackdown On Infiltration
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GUWAHATI: Making the issue of illegal immigrants in Assam as a major poll plank, the BJP today promised to ensure sealing of the Indo-Bangladesh border in its 'vision document' unveiled in Guwahati as it accused Chief Minister Tarun Gogoi of encouraging infiltration and destroying demography.
"Congress tried to destroy and change the demography of the state by encouraging infiltration. Congress has been doing it for many decades and took no action," Union Minister Arun Jaitley said attacking the Gogoi government while releasing BJP's Vision Document for Assam, where assembly polls will kick off on April 4.
The BJP Assam Vision Document 2016-2025 promised to work closely with the Centre for "complete sealing of the Indo-Bangladesh border in the state" if it was voted to power.
It also assured the people that a law would be enacted to "deal sternly" with industries, businesses, Small and Medium Enterprises or any other agencies employing infiltrators.
Referring to Congress' allegation of fund cut to the state by the NDA government, Mr Jaitley said "Assam will get 148 per cent more in 2016-2020 compared to 2011-2015 due to higher tax devaluation of 42 per cent as against 32 per cent earlier."
Assam, he said, will get Rs. 1,43,239 crore as tax devaluation as recommended by the 14th Finance Commission as against Rs. 57,854 crore during 13th Finance Commission.
"So stop misleading the people. A failed government is trying to find excuses for its failures," Mr Jaitley said.
GUWAHATI: Making the issue of illegal immigrants in Assam as a major poll plank, the BJP today promised to ensure sealing of the Indo-Bangladesh border in its 'vision document' unveiled in Guwahati as it accused Chief Minister Tarun Gogoi of encouraging infiltration and destroying demography."Congress tried to destroy and change the demography of the state by encouraging infiltration. Congress has been doing it for many decades and took no action," Union Minister Arun Jaitley said attacking the Gogoi government while releasing BJP's Vision Document for Assam, where assembly polls will kick off on April 4.
It also assured the people that a law would be enacted to "deal sternly" with industries, businesses, Small and Medium Enterprises or any other agencies employing infiltrators.
Referring to Congress' allegation of fund cut to the state by the NDA government, Mr Jaitley said "Assam will get 148 per cent more in 2016-2020 compared to 2011-2015 due to higher tax devaluation of 42 per cent as against 32 per cent earlier."
Assam, he said, will get Rs. 1,43,239 crore as tax devaluation as recommended by the 14th Finance Commission as against Rs. 57,854 crore during 13th Finance Commission.
"So stop misleading the people. A failed government is trying to find excuses for its failures," Mr Jaitley said.
Shahid Afridi Again. Pakistan Skipper Makes A New Kashmir Comment
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MOHALI: Shahid Afridi, unfazed by the criticism he drew after a previous match, mentioned Kashmir once again today during a post-match presentation after Pakistan was knocked out of the World T20 by Australia.
"I thank people who came and supported us from Pakistan and Kashmir," said the Pakistan captain, who had earned the wrath of the Indian cricket board BCCI for a similar comment after winning the toss in Pakistan's game against New Zealand, also at Mohali.
The BCCI too got a thank you from Afridi "for taking good care of us in India,"
Last week the Pakistan skipper, set to get the axe when he returns home, was cheered by a section of the crowd at Mohali when he won the toss, prompting commentator Rameez Raja to say he seemed to have a bit of "fan following" at the ground.
"Yes, a lot of people, a lot of people are here from Kashmir as well," Afridi had said.
"To give a statement like that is not politically correct. A player should stay away from all this. That's the reason why he was criticised in Pakistan," BCCI secretary Anurag Thakur had said,
Mr Thakur was referring to the controversy triggered by an earlier remark by Afridi that the Pakistani cricket team gets "more love in India than back home".
He was lambasted in Pakistan with former captain Javed Miandad saying the all-rounder should be ashamed of himself.
Well far from it. Asked about the controversy the comment generated, Shahid Afridi said, "My comment was meant for educated people."
MOHALI: Shahid Afridi, unfazed by the criticism he drew after a previous match, mentioned Kashmir once again today during a post-match presentation after Pakistan was knocked out of the World T20 by Australia."I thank people who came and supported us from Pakistan and Kashmir," said the Pakistan captain, who had earned the wrath of the Indian cricket board BCCI for a similar comment after winning the toss in Pakistan's game against New Zealand, also at Mohali.
Last week the Pakistan skipper, set to get the axe when he returns home, was cheered by a section of the crowd at Mohali when he won the toss, prompting commentator Rameez Raja to say he seemed to have a bit of "fan following" at the ground.
"Yes, a lot of people, a lot of people are here from Kashmir as well," Afridi had said.
"To give a statement like that is not politically correct. A player should stay away from all this. That's the reason why he was criticised in Pakistan," BCCI secretary Anurag Thakur had said,
Mr Thakur was referring to the controversy triggered by an earlier remark by Afridi that the Pakistani cricket team gets "more love in India than back home".
He was lambasted in Pakistan with former captain Javed Miandad saying the all-rounder should be ashamed of himself.
Well far from it. Asked about the controversy the comment generated, Shahid Afridi said, "My comment was meant for educated people."
Brussels Effect: Security Beefed Up, Flyers Asked To Take Off Footwear
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NEW DELHI: Amid a heightened alert in the wake of Brussels terror attacks, security agencies have stepped up vigil at sensitive airports in the country with passengers being made to take off their footwear and belts and go through detailed frisking.
At major airports like Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, Chennai and Ahmedabad, the CISF and local police have shored up security apparatus and passengers are being observed and screened minutely with reintroduction of risk-based Secondary Ladder Point Check (SLPC) which entails frisking people before they enter the aircraft.
The surveillance and patrol teams along the peripheries have also been asked to be extra cautious as passengers enter the terminal area unchecked.
While fliers at many such airports are being asked to take out their footwear and belt to undertake a "clean search", a second layer of profiling-based body search and frisking is being conducted just before passengers board the aircraft.
"More hands are deployed when such security drills are made operational. The security staff is certainly more at certain sensitive facilities and changes will be made as per the level of threat indicated by central intelligence agencies," a senior official involved in airport security said.
Another official said the hand baggage and booked cargo of the fliers has also been brought under detailed search as part of the stepped up security drills and measures put in place in the wake of the terror attacks in airport and metro station at Brussels that left 31 people dead and 300 injured on Tuesday.
Airlines and special teams of the CISF and airport security have been asked to conduct risk-based Secondary Ladder Point Check (SLPC) which entails frisking passengers on the air side just before entering the aircraft.
They said these instructions are for people who look to be suspicious and hence not all passengers have to go through the SLPC.
"The instructions have been issued keeping in mind the prevailing security situation and based on the assessment of central security agencies.
"While these measures are not new and there is nothing to panic, they are being deployed to add the extra layer of security and ensure that nothing is left to chance in ensuring a fool proof security when it comes to smooth civil aviation operations," the officials said.
"Armed Quick Reaction Teams (QRTs) of Central Industrial Security Force commandos and local police have been positioned at vantage locations to enhance vigil along the peripheries of these airports," they said.
Special anti-sabotage teams and bomb detection and disposal teams and sniffer dogs have been asked to be on standby at these airports.
"While India does not follow the 'concourse security' plan for civil aviation operations which entails frisking of fliers and their luggage before entering the airport, security personnel in plainclothes are being deployed increasingly to keep tab on any suspicious movements at these facilities," they said.
"Keeping in mind the 'security hold' pattern of airport security where passengers enter the terminal area unchecked and are frisked later in a designated area, the surveillance and patrol teams along the peripheries have been asked to be extra cautious specifically keeping in mind the heightened security alert after the Brussels attack and generally in view of the vulnerability of these facilities," they said.
"There is a general alert to all sensitive and vital installations in view of the Brussels attack and the recently concluded Holi festivities.
"The security paraphernalia at places where there is large public interface is definitely more proactive than earlier keeping in mind that there are no added hassles in their movement and security of travellers," they said.
Similar measures have also been deployed at the Delhi Metro network where security personnel have been asked to remain vigilant, especially over the weekend.
NEW DELHI: Amid a heightened alert in the wake of Brussels terror attacks, security agencies have stepped up vigil at sensitive airports in the country with passengers being made to take off their footwear and belts and go through detailed frisking.At major airports like Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, Chennai and Ahmedabad, the CISF and local police have shored up security apparatus and passengers are being observed and screened minutely with reintroduction of risk-based Secondary Ladder Point Check (SLPC) which entails frisking people before they enter the aircraft.
While fliers at many such airports are being asked to take out their footwear and belt to undertake a "clean search", a second layer of profiling-based body search and frisking is being conducted just before passengers board the aircraft.
"More hands are deployed when such security drills are made operational. The security staff is certainly more at certain sensitive facilities and changes will be made as per the level of threat indicated by central intelligence agencies," a senior official involved in airport security said.
Another official said the hand baggage and booked cargo of the fliers has also been brought under detailed search as part of the stepped up security drills and measures put in place in the wake of the terror attacks in airport and metro station at Brussels that left 31 people dead and 300 injured on Tuesday.
Airlines and special teams of the CISF and airport security have been asked to conduct risk-based Secondary Ladder Point Check (SLPC) which entails frisking passengers on the air side just before entering the aircraft.
They said these instructions are for people who look to be suspicious and hence not all passengers have to go through the SLPC.
"The instructions have been issued keeping in mind the prevailing security situation and based on the assessment of central security agencies.
"While these measures are not new and there is nothing to panic, they are being deployed to add the extra layer of security and ensure that nothing is left to chance in ensuring a fool proof security when it comes to smooth civil aviation operations," the officials said.
"Armed Quick Reaction Teams (QRTs) of Central Industrial Security Force commandos and local police have been positioned at vantage locations to enhance vigil along the peripheries of these airports," they said.
Special anti-sabotage teams and bomb detection and disposal teams and sniffer dogs have been asked to be on standby at these airports.
"While India does not follow the 'concourse security' plan for civil aviation operations which entails frisking of fliers and their luggage before entering the airport, security personnel in plainclothes are being deployed increasingly to keep tab on any suspicious movements at these facilities," they said.
"Keeping in mind the 'security hold' pattern of airport security where passengers enter the terminal area unchecked and are frisked later in a designated area, the surveillance and patrol teams along the peripheries have been asked to be extra cautious specifically keeping in mind the heightened security alert after the Brussels attack and generally in view of the vulnerability of these facilities," they said.
"There is a general alert to all sensitive and vital installations in view of the Brussels attack and the recently concluded Holi festivities.
"The security paraphernalia at places where there is large public interface is definitely more proactive than earlier keeping in mind that there are no added hassles in their movement and security of travellers," they said.
Similar measures have also been deployed at the Delhi Metro network where security personnel have been asked to remain vigilant, especially over the weekend.
Business Affairs
Govt approves 11 highway projects worth Rs 6,284 crore
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The government has approved 11 highway projects worth Rs 6,284 crore for various states including Karnataka and Himachal Pradesh.
"The ministry has approved 11 highway projects with a total length of about 453 km and aggregate total capital cost of Rs 6,284 crore," Road Transport and Highways Secretary Sanjay Mitra said.
Of these, nine will be implemented in engineering, procurement and construction (EPC) mode, one in BOT (Toll) mode and one in hybrid annuity mode, he said.
The ministry also approved four road overbridges (ROBs) involving a total cost of Rs 683 crore, Mitra said.
The ROB are part of government's Setu Bharatam project.
The NHAI projects approved today include two four-laning of BRT Tiger Reserve boundary to Bengaluru section of NH-209 in Karnataka on Hybrid Annuity Mode under NHDP Phase-IV to be executed at a cost of Rs 1,253.51 crore.
Another project pertains to four-laning of Nerchwok-Pandoh, including Pandoh bypass section of NH-21 on EPC mode in Himachal Pradesh under NHDP-IV B at a cost of Rs 1,273.71 crore.
The other highway project is four-laning of Takoli-Kullu section of NH-21 on EPC mode in Himachal Pradesh under NHDP phase-IV B at a cost of Rs 742.40 crore.
Besides, projects like four-laning of Saoner bypass on Saoner-Dhapewada Gondkhairi Road on NH-547 E in Maharashtra on EPC mode, among others, were also approved.
The government has approved 11 highway projects worth Rs 6,284 crore for various states including Karnataka and Himachal Pradesh.
"The ministry has approved 11 highway projects with a total length of about 453 km and aggregate total capital cost of Rs 6,284 crore," Road Transport and Highways Secretary Sanjay Mitra said.
Of these, nine will be implemented in engineering, procurement and construction (EPC) mode, one in BOT (Toll) mode and one in hybrid annuity mode, he said.
The ministry also approved four road overbridges (ROBs) involving a total cost of Rs 683 crore, Mitra said.
The ROB are part of government's Setu Bharatam project.
The NHAI projects approved today include two four-laning of BRT Tiger Reserve boundary to Bengaluru section of NH-209 in Karnataka on Hybrid Annuity Mode under NHDP Phase-IV to be executed at a cost of Rs 1,253.51 crore.
Another project pertains to four-laning of Nerchwok-Pandoh, including Pandoh bypass section of NH-21 on EPC mode in Himachal Pradesh under NHDP-IV B at a cost of Rs 1,273.71 crore.
The other highway project is four-laning of Takoli-Kullu section of NH-21 on EPC mode in Himachal Pradesh under NHDP phase-IV B at a cost of Rs 742.40 crore.
Besides, projects like four-laning of Saoner bypass on Saoner-Dhapewada Gondkhairi Road on NH-547 E in Maharashtra on EPC mode, among others, were also approved.
Sebi orders two companies to refund investors' money
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Markets regulator Sebi has ordered two companies and their directors to refund the money, which they illegally raised by issuing securities to investors in violation of public issue norms.
Also, the regulator barred the two companies, Subha Commercial Services and Progress Cultivation Limited, and their respective directors from the capital markets for a period of four years from the date of completion of refunds.
Sebi asked the companies and their seven directors to refund the money along with an interest of 15 per cent per annum.
A Securities and Exchange Board of India (Sebi) probe found that the firms had mobilised funds by issuing securities to more than 50 persons without complying with the public issue norms.
Progress Cultivation had mobilised at least Rs 9.32 crore between 2009-2010 and 2012-2013 from investors through issuing redeemable preference shares (RPS) and preference share application money pending allotment.
On the other hand, Subha Commercial Services raised Rs 65.67 lakh through allotment of RPS during the financial years 2012-13, 2013-14 and 2014-15.
Since the shares were issued by the firm to more than 50 people, it qualified as a public issue that requires compulsory listing on recognised stock exchanges, which the firm failed to do.
Among others, it was also mandatory for the firms to bring out a prospectus with respect to the public issue.
In two separate but similar worded orders, Sebi said the companies and their directors jointly and severally, shall refund the money collected by the firms through the issuance of RPS, which have violated market norms, with an interest of 15 per cent per annum compounded at half yearly intervals from the date when the repayments became due till the date of actual payment.
In addition, they shall issue public notice, in all editions of two national dailies (one English and one Hindi) and in one local daily with wide circulation, detailing the modalities for refund, including details of contact person within 15 days of this order coming into effect, Sebi said.
In case they fails to comply with these directives, Sebi would make a reference to state government or local police to register a case against the company for fraud.
Besides, the Ministry of Corporate Affairs would initiate the process of winding up of the company.
Markets regulator Sebi has ordered two companies and their directors to refund the money, which they illegally raised by issuing securities to investors in violation of public issue norms.
Also, the regulator barred the two companies, Subha Commercial Services and Progress Cultivation Limited, and their respective directors from the capital markets for a period of four years from the date of completion of refunds.
Sebi asked the companies and their seven directors to refund the money along with an interest of 15 per cent per annum.
A Securities and Exchange Board of India (Sebi) probe found that the firms had mobilised funds by issuing securities to more than 50 persons without complying with the public issue norms.
Progress Cultivation had mobilised at least Rs 9.32 crore between 2009-2010 and 2012-2013 from investors through issuing redeemable preference shares (RPS) and preference share application money pending allotment.
On the other hand, Subha Commercial Services raised Rs 65.67 lakh through allotment of RPS during the financial years 2012-13, 2013-14 and 2014-15.
Since the shares were issued by the firm to more than 50 people, it qualified as a public issue that requires compulsory listing on recognised stock exchanges, which the firm failed to do.
Among others, it was also mandatory for the firms to bring out a prospectus with respect to the public issue.
In two separate but similar worded orders, Sebi said the companies and their directors jointly and severally, shall refund the money collected by the firms through the issuance of RPS, which have violated market norms, with an interest of 15 per cent per annum compounded at half yearly intervals from the date when the repayments became due till the date of actual payment.
In addition, they shall issue public notice, in all editions of two national dailies (one English and one Hindi) and in one local daily with wide circulation, detailing the modalities for refund, including details of contact person within 15 days of this order coming into effect, Sebi said.
In case they fails to comply with these directives, Sebi would make a reference to state government or local police to register a case against the company for fraud.
Besides, the Ministry of Corporate Affairs would initiate the process of winding up of the company.
Asian shares consolidate gains as risk appetite holds
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Asian shares consolidated their gains on Wednesday, shaking off earlier losses following attacks on the airport and a rush-hour metro train in Brussels as investors look to a brightening global economic picture.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent but clung near 3 1/2-month high hit earlier this week while Japan's Nikkei inched up 0.1 per cent.
Wall Street shares were mixed on Tuesday. The S&P 500 lost 0.09 per cent while the Nasdaq Composite added 0.27 per cent.
But emerging markets fared better, with MSCI's emerging market index rising 0.2 per cent to four-month high, having gained more than 20 per cent from its seven-year trough high in January.
"After the Group of 20 meeting and China's parliament meeting, markets got confirmation that policymakers will take necessary steps in monetary, fiscal policy," said Koichi Yoshikawa, executive director of financial markets at Standard Chartered Bank in Tokyo.
"That is reassuring markets and investors funds' that had fled to the US markets are returning to high-yielding currencies and emerging markets," he said.
Financial markets took the attacks in Brussels that killed at least 30 people in their stride, with risk appetite quickly coming back and gains in safe-haven assets evaporating within hours.
In the currency market the safe-haven yen quickly gave up its gains and last stood at 112.23 to the dollar, down 0.6 per cent so far this week.
The euro slipped to $1.11885 on Tuesday and last stood at $1.1220, down 0.4 per cent on the week.
The dollar was also helped by a rise in US bond yields after Chicago's Federal Reserve president, seen as a policy dove, struck a bullish tone on the US economy.
Chicago Fed President Charles Evans said he expects two more rate increases this year, based on the current economic outlook.
The 10-year US Treasuries yield rose to 1.954 per cent, its highest in a week, compared to 1.871 per cent at the end of last week, and edging near last week's seven-week high of 2.002 per cent.
US interest rate futures are also fully pricing in a chance of more than one rate hike by the end of year.
Oil prices slipped from their highs after US industry data showing bigger than expected builds in domestic inventory, but prices maintained a firm tone, supported by general recovery in risk appetite.
Brent futures LCOc1 traded at $41.59 per barrel, down 0.5 per cent in Asian trade on Wednesday but still not far from a three-month high of $42.54 set on Friday.
The American Petroleum Institute (API), an industry group, said after futures market settlement on Tuesday that US crude stockpiles rose almost 9 million barrels last week to reach a record high of nearly 532 million.
Asian shares consolidated their gains on Wednesday, shaking off earlier losses following attacks on the airport and a rush-hour metro train in Brussels as investors look to a brightening global economic picture.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent but clung near 3 1/2-month high hit earlier this week while Japan's Nikkei inched up 0.1 per cent.
Wall Street shares were mixed on Tuesday. The S&P 500 lost 0.09 per cent while the Nasdaq Composite added 0.27 per cent.
But emerging markets fared better, with MSCI's emerging market index rising 0.2 per cent to four-month high, having gained more than 20 per cent from its seven-year trough high in January.
"After the Group of 20 meeting and China's parliament meeting, markets got confirmation that policymakers will take necessary steps in monetary, fiscal policy," said Koichi Yoshikawa, executive director of financial markets at Standard Chartered Bank in Tokyo.
"That is reassuring markets and investors funds' that had fled to the US markets are returning to high-yielding currencies and emerging markets," he said.
Financial markets took the attacks in Brussels that killed at least 30 people in their stride, with risk appetite quickly coming back and gains in safe-haven assets evaporating within hours.
In the currency market the safe-haven yen quickly gave up its gains and last stood at 112.23 to the dollar, down 0.6 per cent so far this week.
The euro slipped to $1.11885 on Tuesday and last stood at $1.1220, down 0.4 per cent on the week.
The dollar was also helped by a rise in US bond yields after Chicago's Federal Reserve president, seen as a policy dove, struck a bullish tone on the US economy.
Chicago Fed President Charles Evans said he expects two more rate increases this year, based on the current economic outlook.
The 10-year US Treasuries yield rose to 1.954 per cent, its highest in a week, compared to 1.871 per cent at the end of last week, and edging near last week's seven-week high of 2.002 per cent.
US interest rate futures are also fully pricing in a chance of more than one rate hike by the end of year.
Oil prices slipped from their highs after US industry data showing bigger than expected builds in domestic inventory, but prices maintained a firm tone, supported by general recovery in risk appetite.
Brent futures LCOc1 traded at $41.59 per barrel, down 0.5 per cent in Asian trade on Wednesday but still not far from a three-month high of $42.54 set on Friday.
The American Petroleum Institute (API), an industry group, said after futures market settlement on Tuesday that US crude stockpiles rose almost 9 million barrels last week to reach a record high of nearly 532 million.
The next big thing in phones may not be a phone
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Nearly a decade after the iPhone broke the mould for mobile phones the question being asked is whether the evolution of the smartphone has finally come to an end, as even Apple now treats older, smaller 4-inch screens as something new.
Industry experts believe innovation in smartphones is giving way to phone functions popping up as software or services in all manner of new devices from cars to fridges to watches and jewellery rather than remaining with handheld devices.
And analysts and product designers said fresh breakthroughs are running up against the practical limits of what's possible in current smartphone hardware in terms of screen size, battery life and network capacity.
"Everything in the phone industry now is incremental: slightly faster, slightly bigger, slightly more storage or better resolution," said Christian Lindholm, inventor of the easy text-messaging keyboards in old Nokia phones that made them the best-selling mobile devices of all time. [nL3N16509I] [nL8N1600ZB]
The financial stakes are high as the futures of Apple, Google, and Microsoft, the world's three biggest listed companies at the end of last year, may now turn on who gets the jump on making handsets redundant.
Many firms are experimenting with new ways to help consumers interact with the wider world through touch, sight and sound.
These include voice-activated personal assistant devices dangling from "smart jewellery" necklaces with tiny embedded microphones or tiny earpieces that get things done for us based on our verbal commands.
The world's biggest tech companies have made real progress in this arena with Google Now, Apple Siri, Microsoft Cortana and Amazon.com's Alexa now able to read texts or emails for users, answer practical questions, control phone features, handle basic communications or read a map.
"The way the whole thing is evolving, the device itself is becoming just another way to provide access to a user's digital life," said independent financial analyst Richard Windsor.
Lindholm now runs KoruLab, developers of compact, ultra-efficient software for running wearable devices. He sees smartphone functions splitting into two camps - big-screen devices for rich entertainment and compact wearables for more transactional activities like keeping up with one's calendar, health or fitness monitoring or paying for goods or services.
NAGGING QUESTIONS
Financial analysts at UBS estimate smartphone makers will generate more than $323 billion in revenue this year, a 1.4 percent decline from last year. Apple alone took in half of that revenue and more than three quarters of all profits, according to research firm Strategy Analytics.
Seeking to reverse declining iPhone sales, Apple announced a range of new products on Monday including including a cheaper 4-inch (10 cm) screen iPhone SE.
Google generates virtually all of its revenue from advertising sold alongside its wide variety of Web services, rather than from its Android software, which drives roughly 80 percent of the world's phones.
It is cagey about how much revenue comes from mobile advertising, but analysts estimate this contributed roughly a quarter to a third of its $75 billion revenue reported in 2015.
Last year Microsoft pulled back from the handset business, writing off $7.6 billion for its fruitless acquisition of Nokia's handset business. Increasingly, its strategy has become to make money off the back-end of mobile software, through selling cloud-based services, now its fastest growing business.
For while phones are now the Swiss Army knives of the electronic age, their essential appeal to consumers has shifted from their eye-catching shiny screens and sleek bevelled edges to the apps and services running on the phones, often as Internet-based services hosted in the cloud.
"Mobile networks are moving to connect to all these other devices," said Bob O'Donnell, a consumer electronics analyst and president of Technalysis Research in Foster City, Calif.
Whatever platform might displace the handheld phone also will need to resolve nagging questions about battery life, which have become more pressing as consumers watch more and more video.
The next big device also needs more flexible screens capable of working in different lighting conditions. That's a decades-old dream of gadget enthusiasts that has eluded recognised market leaders Samsung and LG of Korea, which have struggled for years to mass-produce flexible screens at anything close to mass-market prices.
Richard Windsor said flexible displays that could be unfolded or unrolled to up to 10 or 14 inches would set phones free from being defined by screen size. "What is a tablet computer?" Windsor asks. "Why would you bother having a tablet? That market would just evaporate overnight," he said.
Nearly a decade after the iPhone broke the mould for mobile phones the question being asked is whether the evolution of the smartphone has finally come to an end, as even Apple now treats older, smaller 4-inch screens as something new.
Industry experts believe innovation in smartphones is giving way to phone functions popping up as software or services in all manner of new devices from cars to fridges to watches and jewellery rather than remaining with handheld devices.
And analysts and product designers said fresh breakthroughs are running up against the practical limits of what's possible in current smartphone hardware in terms of screen size, battery life and network capacity.
"Everything in the phone industry now is incremental: slightly faster, slightly bigger, slightly more storage or better resolution," said Christian Lindholm, inventor of the easy text-messaging keyboards in old Nokia phones that made them the best-selling mobile devices of all time. [nL3N16509I] [nL8N1600ZB]
The financial stakes are high as the futures of Apple, Google, and Microsoft, the world's three biggest listed companies at the end of last year, may now turn on who gets the jump on making handsets redundant.
Many firms are experimenting with new ways to help consumers interact with the wider world through touch, sight and sound.
These include voice-activated personal assistant devices dangling from "smart jewellery" necklaces with tiny embedded microphones or tiny earpieces that get things done for us based on our verbal commands.
The world's biggest tech companies have made real progress in this arena with Google Now, Apple Siri, Microsoft Cortana and Amazon.com's Alexa now able to read texts or emails for users, answer practical questions, control phone features, handle basic communications or read a map.
"The way the whole thing is evolving, the device itself is becoming just another way to provide access to a user's digital life," said independent financial analyst Richard Windsor.
Lindholm now runs KoruLab, developers of compact, ultra-efficient software for running wearable devices. He sees smartphone functions splitting into two camps - big-screen devices for rich entertainment and compact wearables for more transactional activities like keeping up with one's calendar, health or fitness monitoring or paying for goods or services.
NAGGING QUESTIONS
Financial analysts at UBS estimate smartphone makers will generate more than $323 billion in revenue this year, a 1.4 percent decline from last year. Apple alone took in half of that revenue and more than three quarters of all profits, according to research firm Strategy Analytics.
Seeking to reverse declining iPhone sales, Apple announced a range of new products on Monday including including a cheaper 4-inch (10 cm) screen iPhone SE.
Google generates virtually all of its revenue from advertising sold alongside its wide variety of Web services, rather than from its Android software, which drives roughly 80 percent of the world's phones.
It is cagey about how much revenue comes from mobile advertising, but analysts estimate this contributed roughly a quarter to a third of its $75 billion revenue reported in 2015.
Last year Microsoft pulled back from the handset business, writing off $7.6 billion for its fruitless acquisition of Nokia's handset business. Increasingly, its strategy has become to make money off the back-end of mobile software, through selling cloud-based services, now its fastest growing business.
For while phones are now the Swiss Army knives of the electronic age, their essential appeal to consumers has shifted from their eye-catching shiny screens and sleek bevelled edges to the apps and services running on the phones, often as Internet-based services hosted in the cloud.
"Mobile networks are moving to connect to all these other devices," said Bob O'Donnell, a consumer electronics analyst and president of Technalysis Research in Foster City, Calif.
Whatever platform might displace the handheld phone also will need to resolve nagging questions about battery life, which have become more pressing as consumers watch more and more video.
The next big device also needs more flexible screens capable of working in different lighting conditions. That's a decades-old dream of gadget enthusiasts that has eluded recognised market leaders Samsung and LG of Korea, which have struggled for years to mass-produce flexible screens at anything close to mass-market prices.
Richard Windsor said flexible displays that could be unfolded or unrolled to up to 10 or 14 inches would set phones free from being defined by screen size. "What is a tablet computer?" Windsor asks. "Why would you bother having a tablet? That market would just evaporate overnight," he said.
Govt may drop plan to impose 2% levy on air tickets
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A government proposal to levy a 2 per cent cess on domestic and international tickets to fund increased regional connectivity that would have led to a hike in air fares is likely to be dropped.
An indication to this effect was on Wednesday given by Civil Aviation Secretary R N Choubey who said other means to raise funds for boosting regional air connectivity are being explored after the conclusion of discussions with stakeholders.
The Government in the revised draft policy, unveiled on October 30 last, had proposed 2 per cent levy on all airfares to mop up funds for its regional connectivity scheme.
The proposal has, however, been opposed by various stake holders on the ground that an additional charge would only increase the ticket prices with the global airlines body IATA terming it as "against the International Civil Aviation Organisation's norms."
"The manner of raising that resource (funds for Viability Gap Funding) that the draft policy proposes by levying 2 per cent cess is something that we are discussing," Choubey said.
The government had earlier planned to levy the proposed cess from January this year. However, it deferred the move due to its failure to finalise the draft civil aviation policy.
Regional Connectivity Scheme is one of the thrust areas of the draft policy.
Choubey said that the Ministry had received the stakeholders' comments, and "therefore we are discussing the manner in which the funds required for viability gap funding will be raised."
He said that regional connectivity can't take place unless there was "collective" money to do so.
"There is a need for collective money for VGF because the regional connectivity is not likely to happen without VGF," he said.
Choubey also said that the draft civil aviation policy is expected to be taken to the Union Cabinet for its approval by the end of this month.
"We are hopeful of getting Cabinet approval to the policy by the end of this month," he said, adding,"From April onwards, we hope it to be effective."
The Ministry has assigned various possible deadlines for seeking Government's nod to the draft policy on several occasions in the past with the last being January.
On the vexed issue of 5/20 norm, which makes it mandatory for an Indian airline to have five years of domestic operational experience and at least 20 aircraft in the fleet for international flying, Civil Aviation Minister Ashok Gajpathi Raju evaded a direct response.
"We have to come to a conclusion. Regulations have to be meaningful," Raju, who is in favour of removing the regulations, said without giving any timeline for a final call on the issue.
The rule has divided the industry in two groups, with the startup carriers Vistara and AirAsia India lobbying for its removal while older airlines under Federation of Indian Airlines (FIA) want it to be retained.
A government proposal to levy a 2 per cent cess on domestic and international tickets to fund increased regional connectivity that would have led to a hike in air fares is likely to be dropped.
An indication to this effect was on Wednesday given by Civil Aviation Secretary R N Choubey who said other means to raise funds for boosting regional air connectivity are being explored after the conclusion of discussions with stakeholders.
The Government in the revised draft policy, unveiled on October 30 last, had proposed 2 per cent levy on all airfares to mop up funds for its regional connectivity scheme.
The proposal has, however, been opposed by various stake holders on the ground that an additional charge would only increase the ticket prices with the global airlines body IATA terming it as "against the International Civil Aviation Organisation's norms."
"The manner of raising that resource (funds for Viability Gap Funding) that the draft policy proposes by levying 2 per cent cess is something that we are discussing," Choubey said.
The government had earlier planned to levy the proposed cess from January this year. However, it deferred the move due to its failure to finalise the draft civil aviation policy.
Regional Connectivity Scheme is one of the thrust areas of the draft policy.
Choubey said that the Ministry had received the stakeholders' comments, and "therefore we are discussing the manner in which the funds required for viability gap funding will be raised."
He said that regional connectivity can't take place unless there was "collective" money to do so.
"There is a need for collective money for VGF because the regional connectivity is not likely to happen without VGF," he said.
Choubey also said that the draft civil aviation policy is expected to be taken to the Union Cabinet for its approval by the end of this month.
"We are hopeful of getting Cabinet approval to the policy by the end of this month," he said, adding,"From April onwards, we hope it to be effective."
The Ministry has assigned various possible deadlines for seeking Government's nod to the draft policy on several occasions in the past with the last being January.
On the vexed issue of 5/20 norm, which makes it mandatory for an Indian airline to have five years of domestic operational experience and at least 20 aircraft in the fleet for international flying, Civil Aviation Minister Ashok Gajpathi Raju evaded a direct response.
"We have to come to a conclusion. Regulations have to be meaningful," Raju, who is in favour of removing the regulations, said without giving any timeline for a final call on the issue.
The rule has divided the industry in two groups, with the startup carriers Vistara and AirAsia India lobbying for its removal while older airlines under Federation of Indian Airlines (FIA) want it to be retained.
General Awareness
ISRO establishes GIRI radar system in Tirupathi
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The Space pioneer of India ISRO has established the Gadanki Ionospheric Radar Interferometer (GIRI) near Tirupati in Andhra Pradesh.
Located at: National Atmospheric Research Laboratory (NARL) which is an autonomous research institute of the Department of Space
Construction: It consists of a rectangular antenna array of 160 two-element Yagi-antenna, arranged in a 20×8 matrix, 20 transmitter units, 6 digital receivers including data processing systems, a radar controller, and a host computer
Objective :
- To carry out unattended observations towards studying the forces from the sunlike variation in solar flux, solar flare and magnetic storm on the ionospheric irregularities
- To studyunattended observations from the underneath atmosphere (e.g., waves generated by weather phenomena) on the ionospheric irregularities.
Uses
- It will provide important information on the angular location of plasma irregularities during the onset phase
- The info provided will be used to improve the skill in Equatorial Plasma Bubble (EPB) forecasting which is detrimental for satellite based navigation/communication applications.
NARL
- Autonomous body of Department of Space research at Gadanki, Tirupathi
- World’s first low latitude laboratory
- The Space pioneer of India ISRO has established the Gadanki Ionospheric Radar Interferometer (GIRI) near Tirupati in Andhra Pradesh.Located at: National Atmospheric Research Laboratory (NARL) which is an autonomous research institute of the Department of SpaceConstruction: It consists of a rectangular antenna array of 160 two-element Yagi-antenna, arranged in a 20×8 matrix, 20 transmitter units, 6 digital receivers including data processing systems, a radar controller, and a host computerObjective :
- To carry out unattended observations towards studying the forces from the sunlike variation in solar flux, solar flare and magnetic storm on the ionospheric irregularities
- To studyunattended observations from the underneath atmosphere (e.g., waves generated by weather phenomena) on the ionospheric irregularities.
Uses- It will provide important information on the angular location of plasma irregularities during the onset phase
- The info provided will be used to improve the skill in Equatorial Plasma Bubble (EPB) forecasting which is detrimental for satellite based navigation/communication applications.
NARL- Autonomous body of Department of Space research at Gadanki, Tirupathi
- World’s first low latitude laboratory
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