General Affairs
Terror Gravest Threat To World, Says PM Modi In Mozambique
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MAPUTO, MOZAMBIQUE: Against the backdrop of spurt in terror attacks in various countries, Prime Minister Narendra Modi today said terrorism is the "gravest threat" to the world and spoke about bolstering security and defence ties between India and Mozambique, which are connected by the Indian Ocean.
After PM Modi's wide-ranging talks with Mozambican President Filipe Nyusi, a significant "long term" agreement was signed under which India will buy pulses from this country to plug its shortfall and contain prices of this commodity.
Declaring India as a "trusted friend" and a "reliable partner" of Mozambique, the Prime Minister also announced that essential medicines, including those for treating AIDS, would be donated to Mozambique as part of efforts to strengthen the public health system of the African nation.
India will also help build capacities of Mozambique's security forces amid PM Modi's vow to march with this African country on its path of development and progress.
"We want development and economic progress to benefit the people. We also want safety and security of our people," he said at a joint media interaction with Nyusi after the talks during which the two leaders discussed ways to enhance trade and investment and step up cooperation in other fields.
"Terrorism is the gravest security threat to the world today," PM Modi said, in comments that come against the backdrop of spurt in terror attacks in various parts of the world, including Bangladesh as also Saudi Arabia.
He said the networks of terrorism are interlinked with other crimes, including drug trafficking, to curb which India and Mozambique signed a pact.
Noting that India and Mozambique are connected by the Indian Ocean, the Prime Minister talked about the "emerging security challenges", including in the maritime areas, and said the two countries will step up security and defence cooperation.
India will help build capacities of Mozambican security forces through training and equipment, said PM Modi who arrived here this morning on a day-long visit on the first leg of his five-day tour of four African countries.
After PM Modi's wide-ranging talks with Mozambican President Filipe Nyusi, a significant "long term" agreement was signed under which India will buy pulses from this country to plug its shortfall and contain prices of this commodity.
India will also help build capacities of Mozambique's security forces amid PM Modi's vow to march with this African country on its path of development and progress.
"We want development and economic progress to benefit the people. We also want safety and security of our people," he said at a joint media interaction with Nyusi after the talks during which the two leaders discussed ways to enhance trade and investment and step up cooperation in other fields.
"Terrorism is the gravest security threat to the world today," PM Modi said, in comments that come against the backdrop of spurt in terror attacks in various parts of the world, including Bangladesh as also Saudi Arabia.
He said the networks of terrorism are interlinked with other crimes, including drug trafficking, to curb which India and Mozambique signed a pact.
Noting that India and Mozambique are connected by the Indian Ocean, the Prime Minister talked about the "emerging security challenges", including in the maritime areas, and said the two countries will step up security and defence cooperation.
India will help build capacities of Mozambican security forces through training and equipment, said PM Modi who arrived here this morning on a day-long visit on the first leg of his five-day tour of four African countries.
Friend In Deed: PM Modi's Pitch To Mozambique, Partner In Pulses
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MAPUTO: Prime Minister Narendra Modi on Thursday kicked off a four-nation tour of Africa, vowing to be "a trusted friend and reliable partner" of Mozambique after talks with President Filipe Nyusi in Maputo.
His comment came just two days after India signed a trade agreement with Mozambique to import pulses, a diet staple the country desperately needs.
PM Modi set the tone for his continental visit by announcing a raft of agreements as India races China, which has a strong presence across Africa.
He will also visit South Africa, Tanzania and Kenya over his five-day trip.
"Mozambique's strengths are also the areas of India's need. And what Mozambique requires is available in India," PM Modi said.
"In Mozambique's march towards economic prosperity, India will walk every step of the way. We will be a trusted friend in your development and a reliable partner in ensuring a bright safe and secure future for our people," he said.
PM Modi, the first Indian leader to visit Mozambique in 34 years, said the two countries would work together on agriculture, defence, security and healthcare.
India has been working to build ties with African nations as it vies for a greater share of the continent's natural resources. Last year, it hosted a summit of Africa's heads of state in New Delhi.
Its economic footprint in Africa is dwarfed by that of China, whose trade with the continent topped $200 billion last year.
India is gaining ground, however, led by private entrepreneurs with a keen interest in the continent's burgeoning energy sector.
But relations between India and the continent have been strained in the past by incidents of alleged racism, with African ambassadors as recently as May claiming after the brutal murder of a Congolese teacher that African nationals in the Indian capital live in a "pervading climate of fear and insecurity".
South Africa
PM Modi's Africa tour will focus on hydrocarbons, maritime security, trade and investment, agriculture and food, according to Indian officials.
Later Thursday, PM Modi will head to South Africa for a two-day state visit, holding talks with President Jacob Zuma on Friday in Pretoria and meeting business leaders.
India is now South Africa's sixth largest trade partner, with two-way trade reaching $5.3 billion in 2015-16.
South Africa has been vocal on the need to reform the UN Security Council, making it a natural ally in India's long-running campaign to be made a permanent member.
With 1.3 million people of Indian origin, South Africa also has the largest diaspora population in Africa, a major element of PM Modi's diplomatic push across the world since taking office two years ago.
On Friday evening, he will address a thousands-strong audience at a stadium in Johannesburg, having hosted similar rallies for the diaspora in cities from New York to London.
While in South Africa, PM Modi is also expected to honour Mahatma Gandhi's time in the country.
His comment came just two days after India signed a trade agreement with Mozambique to import pulses, a diet staple the country desperately needs.
PM Modi set the tone for his continental visit by announcing a raft of agreements as India races China, which has a strong presence across Africa.
"Mozambique's strengths are also the areas of India's need. And what Mozambique requires is available in India," PM Modi said.
"In Mozambique's march towards economic prosperity, India will walk every step of the way. We will be a trusted friend in your development and a reliable partner in ensuring a bright safe and secure future for our people," he said.
PM Modi, the first Indian leader to visit Mozambique in 34 years, said the two countries would work together on agriculture, defence, security and healthcare.
India has been working to build ties with African nations as it vies for a greater share of the continent's natural resources. Last year, it hosted a summit of Africa's heads of state in New Delhi.
Its economic footprint in Africa is dwarfed by that of China, whose trade with the continent topped $200 billion last year.
India is gaining ground, however, led by private entrepreneurs with a keen interest in the continent's burgeoning energy sector.
But relations between India and the continent have been strained in the past by incidents of alleged racism, with African ambassadors as recently as May claiming after the brutal murder of a Congolese teacher that African nationals in the Indian capital live in a "pervading climate of fear and insecurity".
South Africa
PM Modi's Africa tour will focus on hydrocarbons, maritime security, trade and investment, agriculture and food, according to Indian officials.
Later Thursday, PM Modi will head to South Africa for a two-day state visit, holding talks with President Jacob Zuma on Friday in Pretoria and meeting business leaders.
India is now South Africa's sixth largest trade partner, with two-way trade reaching $5.3 billion in 2015-16.
South Africa has been vocal on the need to reform the UN Security Council, making it a natural ally in India's long-running campaign to be made a permanent member.
With 1.3 million people of Indian origin, South Africa also has the largest diaspora population in Africa, a major element of PM Modi's diplomatic push across the world since taking office two years ago.
On Friday evening, he will address a thousands-strong audience at a stadium in Johannesburg, having hosted similar rallies for the diaspora in cities from New York to London.
While in South Africa, PM Modi is also expected to honour Mahatma Gandhi's time in the country.
Subramanian Swamy Tweets On US Report Regarding India's Growth
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NEW DELHI: BJP lawmaker Subramanian Swamy today tweeted about a US State Department report suggesting India's growth rate is over-estimated.
He also took note of economist noble laureate Joseph Stiglitz comments yesterday that Indian policymakers should focus on growing India's economy rapidly rather than "getting overly obsessed about inflation".
Mr Swamy criticised journalists in Delhi for being "silent" about those two observations.
"Lutyen journos silent on US State Dept stating growth rate over-estimated and Stiglitz says growth more important than controlling inflation," Mr Swamy tweeted.
Mr Stiglitz, an eminent economist, at a media interaction yesterday opined that excessive focus on inflation could hurt growth leading to unemployment and inequality.
The US State Department in a report yesterday said that India's 7.5 per cent growth rate may be "overstated".
"Ostensibly, India is one of the fastest growing countries in the world, but this depressed investor sentiment suggests the approximately 7.5 per cent growth rate may be overstated," the report said.
He also took note of economist noble laureate Joseph Stiglitz comments yesterday that Indian policymakers should focus on growing India's economy rapidly rather than "getting overly obsessed about inflation".
Mr Swamy criticised journalists in Delhi for being "silent" about those two observations.
Mr Stiglitz, an eminent economist, at a media interaction yesterday opined that excessive focus on inflation could hurt growth leading to unemployment and inequality.
The US State Department in a report yesterday said that India's 7.5 per cent growth rate may be "overstated".
"Ostensibly, India is one of the fastest growing countries in the world, but this depressed investor sentiment suggests the approximately 7.5 per cent growth rate may be overstated," the report said.
Police Deployed At Controversial Preacher Zakir Naik's Mumbai Office
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MUMBAI: Police have been deployed outside the city office of a foundation run by controversial Islamic preacher Zakir Naik, whose 'hate speech' reportedly inspired one of the five Bangladeshi terrorists involved in the recent attack in Dhaka.
A senior Mumbai Police official said security personnel have been deployed outside Zakir Naik's 'Islamic Research Foundation' office at Dongri area in South Mumbai, as a precautionary measure in the wake of the recent developments.
"We have neither received any threat perception nor particular instructions from the state or Central government. We have deployed our forces only as a precautionary measure to avoid any untoward incident," the official told news agency PTI.
He, however, avoided questions on whether Mumbai Police has received any particular information or instruction to share some inputs on Zakir Naik.
"There is nothing as such. This is something which is being handled at the state and Central government level. But as a law enforcing agency, we are keeping a close eye on the situation," the official said.
Union Minister of State for Home Affairs Kiren Rijiju had yesterday told reporters in Delhi that, "Zakir Naik's speech is a matter of concern for us. Our agencies are working on this. But as a minister, I will not comment what action will be taken."
Bangladeshi newspaper 'Daily Star' had reported that terrorist Rohan Imtiaz, son of an Awami League leader, ran a propaganda on Facebook last year quoting Zakir Naik.
Zakir Naik, in his lecture aired on Peace TV, an international Islamic channel, had reportedly "urged all Muslims to be terrorists".
The controversial Islamic orator and founder of Mumbai-based Islamic Research Foundation is banned in the UK and Canada for his 'hate speech' aimed at other religions. He is among 16 banned Islamic scholars in Malaysia.
He is known in Bangladesh through his Peace TV, although his preachings often demean other religions and even other Muslim sects, the report said.
Shiv Sena MP Arvind Sawant yesterday said he had written to the Union Home Minister, demanding a ban on Zakir Naik and Islamic Research Foundation, in the country's interest.
Last week, gunmen stormed a popular restaurant in Dhaka's diplomatic enclave and killed 22 people, most of them foreigners from Italy, Japan, India and the US in an attack claimed by the ISIS.
A senior Mumbai Police official said security personnel have been deployed outside Zakir Naik's 'Islamic Research Foundation' office at Dongri area in South Mumbai, as a precautionary measure in the wake of the recent developments.
He, however, avoided questions on whether Mumbai Police has received any particular information or instruction to share some inputs on Zakir Naik.
"There is nothing as such. This is something which is being handled at the state and Central government level. But as a law enforcing agency, we are keeping a close eye on the situation," the official said.
Union Minister of State for Home Affairs Kiren Rijiju had yesterday told reporters in Delhi that, "Zakir Naik's speech is a matter of concern for us. Our agencies are working on this. But as a minister, I will not comment what action will be taken."
Bangladeshi newspaper 'Daily Star' had reported that terrorist Rohan Imtiaz, son of an Awami League leader, ran a propaganda on Facebook last year quoting Zakir Naik.
Zakir Naik, in his lecture aired on Peace TV, an international Islamic channel, had reportedly "urged all Muslims to be terrorists".
The controversial Islamic orator and founder of Mumbai-based Islamic Research Foundation is banned in the UK and Canada for his 'hate speech' aimed at other religions. He is among 16 banned Islamic scholars in Malaysia.
He is known in Bangladesh through his Peace TV, although his preachings often demean other religions and even other Muslim sects, the report said.
Shiv Sena MP Arvind Sawant yesterday said he had written to the Union Home Minister, demanding a ban on Zakir Naik and Islamic Research Foundation, in the country's interest.
Last week, gunmen stormed a popular restaurant in Dhaka's diplomatic enclave and killed 22 people, most of them foreigners from Italy, Japan, India and the US in an attack claimed by the ISIS.
Can't Connect Uniform Civil Code With Religion, Says Law Panel Chairman
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NEW DELHI: The uniform civil code has nothing to do with religion and efforts to connect the two will only make the issue contentious, Justice BS Chauhan, Chairman of Law Commission has said.
Speaking exclusively to a fresh initiative by the Narendra Modi government to explore possibility of implementing an uniform civil code, Justice Chauhan said, "If you connect uniform civil code with religion, it becomes a problem. People must understand. We must educate them."
The constitution says the state should try to secure a uniform civil code for its citizens, but earlier efforts towards it had run into trouble given the religion based rules for property, marriage and divorce, inheritance and succession.
The government has now directed the Law Commission for a report on the Uniform Civil Code.
Asked what would be the commission's process to prepare the report, Justice Chauhan said, "Our efforts will be neutral and our attempt is to come out with a secular report".
Soon, the commission will meet people to get their views on the uniform civil code and even invite political parties for their views.
A former Supreme Court Judge, Justice Chauhan said, "It is an important issue and we are not in a hurry to submit the report. We will soon formulate the issues on uniform civil code and put it on the website, seeking views of the public."
The Indian Penal Code and the Criminal Procedure Code apply to all, irrespective of religion, he said. "Like this, there are many laws uniform in nature."
The Supreme Court is examining to what extent the court can interfere in the Muslim personal law. The Centre, which was to submit its stand, had referred the issue to the Law Commission.
Speaking exclusively to a fresh initiative by the Narendra Modi government to explore possibility of implementing an uniform civil code, Justice Chauhan said, "If you connect uniform civil code with religion, it becomes a problem. People must understand. We must educate them."
The government has now directed the Law Commission for a report on the Uniform Civil Code.
Asked what would be the commission's process to prepare the report, Justice Chauhan said, "Our efforts will be neutral and our attempt is to come out with a secular report".
Soon, the commission will meet people to get their views on the uniform civil code and even invite political parties for their views.
A former Supreme Court Judge, Justice Chauhan said, "It is an important issue and we are not in a hurry to submit the report. We will soon formulate the issues on uniform civil code and put it on the website, seeking views of the public."
The Indian Penal Code and the Criminal Procedure Code apply to all, irrespective of religion, he said. "Like this, there are many laws uniform in nature."
The Supreme Court is examining to what extent the court can interfere in the Muslim personal law. The Centre, which was to submit its stand, had referred the issue to the Law Commission.
Business Affairs
Global IT spending to be flat in 2016: Gartner
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Worldwide IT spending is forecast to be flat in 2016 reaching $3.41 trillion, up from last quarter's forecast of negative 0.5 per cent growth, research firm Gartner said on Thursday.
The change in the forecast is mainly due to currency fluctuations, it said in a statement.
"The current forecast assumes that the UK would not exit the European Union. With the UK's exit, there will likely be an erosion in business confidence and price increases which will impact the UK, Western Europe and worldwide IT spending," Gartner Research Vice President John-David Lovelock said.
While the UK has embarked on a process to change, that change is yet to be defined.
The "leave" vote will quickly affect IT spending in the UK and in Europe, while other changes will take longer. Staff may be the largest immediate issue.
The long-term uncertainty in work status will make the UK less attractive to new foreign workers. Retaining current non-UK staff and having less access to qualified new hires from abroad will impair UK IT Departments.
"2016 marked the start of an amazing dichotomy. The pace of change in IT will never again be as slow as it is now, but global IT spending growth is best described as lacklustre," Lovelock said.
2016 is the year that will see business focus turning to digital business, the Internet of Things and even algorithmic business, he added.
"To fund these new initiatives, many businesses are turning to cost optimisation efforts centering around the new digital alternatives to save money, simplify operations and speed time to value. It is precisely this new breadth of alternatives to traditional IT that will fundamentally reshape what is bought, who buys it and how much will be spent," Lovelock said.
Data centre systems' spending is projected to reach $174 billion in 2016, a 2 per cent increase from 2015, driven by strong growth in Greater China and Western Europe and a strong refresh cycle in North American enterprise network equipment market.
Global enterprise software spending is on pace to total $332 billion, a 5.8 per cent increase from 2015 with North America being the dominant regional driving force behind the growth, Gartner said.
Devices spending is projected to total $627 billion by the end of 2016.
The lacklustre economic issues surrounding Russia, Japan and Brazil will hold back demand and worldwide PC recovery in 2016, Gartner said.
Additionally, Windows 10 upgrades have further led to PC buying being delayed consumers are willing to use older PCs longer, once they are upgraded to Windows 10, it added.
Spending in the IT services market is expected to increase 3.7 per cent to total $898 billion. Japan is the fastest-growing region for IT services spending with 8.9 per cent growth.
Communications services spending is projected to total $1.38 trillion in 2016, down 1.4 per cent from 2015.
"Japan leads the growth in communications services, with 8.3 per cent growth, while Greater China adds the most dollars to spend with just more than $8.3 billion," Gartner said.
Eastern Europe, Western Europe and North America are forecast to decrease as price wars and declining usage affect virtually all communications services markets, it added.
Worldwide IT spending is forecast to be flat in 2016 reaching $3.41 trillion, up from last quarter's forecast of negative 0.5 per cent growth, research firm Gartner said on Thursday.
The change in the forecast is mainly due to currency fluctuations, it said in a statement.
"The current forecast assumes that the UK would not exit the European Union. With the UK's exit, there will likely be an erosion in business confidence and price increases which will impact the UK, Western Europe and worldwide IT spending," Gartner Research Vice President John-David Lovelock said.
While the UK has embarked on a process to change, that change is yet to be defined.
The "leave" vote will quickly affect IT spending in the UK and in Europe, while other changes will take longer. Staff may be the largest immediate issue.
The long-term uncertainty in work status will make the UK less attractive to new foreign workers. Retaining current non-UK staff and having less access to qualified new hires from abroad will impair UK IT Departments.
"2016 marked the start of an amazing dichotomy. The pace of change in IT will never again be as slow as it is now, but global IT spending growth is best described as lacklustre," Lovelock said.
2016 is the year that will see business focus turning to digital business, the Internet of Things and even algorithmic business, he added.
"To fund these new initiatives, many businesses are turning to cost optimisation efforts centering around the new digital alternatives to save money, simplify operations and speed time to value. It is precisely this new breadth of alternatives to traditional IT that will fundamentally reshape what is bought, who buys it and how much will be spent," Lovelock said.
Data centre systems' spending is projected to reach $174 billion in 2016, a 2 per cent increase from 2015, driven by strong growth in Greater China and Western Europe and a strong refresh cycle in North American enterprise network equipment market.
Global enterprise software spending is on pace to total $332 billion, a 5.8 per cent increase from 2015 with North America being the dominant regional driving force behind the growth, Gartner said.
Devices spending is projected to total $627 billion by the end of 2016.
The lacklustre economic issues surrounding Russia, Japan and Brazil will hold back demand and worldwide PC recovery in 2016, Gartner said.
Additionally, Windows 10 upgrades have further led to PC buying being delayed consumers are willing to use older PCs longer, once they are upgraded to Windows 10, it added.
Spending in the IT services market is expected to increase 3.7 per cent to total $898 billion. Japan is the fastest-growing region for IT services spending with 8.9 per cent growth.
Communications services spending is projected to total $1.38 trillion in 2016, down 1.4 per cent from 2015.
"Japan leads the growth in communications services, with 8.3 per cent growth, while Greater China adds the most dollars to spend with just more than $8.3 billion," Gartner said.
Eastern Europe, Western Europe and North America are forecast to decrease as price wars and declining usage affect virtually all communications services markets, it added.
Higher MSP to boost pulses production, check food inflation: Shaktikanta Das
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Higher minimum support price (MSP) will increase the availability of pulses and help contain food inflation, Finance Ministry said on Thursday.
"Increase in MSP of pulses by govt showing results. Acreage and production expected to be higher. Should help in containing food inflation," Economic Affairs Secretary Shaktikanta Das tweeted.
Government last month sharply hiked MSP of pulses by up to Rs 425 per quintal for this year to boost output and check price rise. The MSP is the rate at which the government buys the grain from farmers.
The price of pulses, which have touched Rs 200/kg, has been a major factor contributing to rising wholesale and retail inflation.
While WPI inflation rose to 0.79 per cent in May -- the fastest pace since October 2014, consumer prices (retail inflation) surged 5.76 per cent in May, the fastest rate in 21 months.
Pulses inflation has remained in double digits since January 2015 and stood at 35.56 per cent in May.
Higher minimum support price (MSP) will increase the availability of pulses and help contain food inflation, Finance Ministry said on Thursday.
"Increase in MSP of pulses by govt showing results. Acreage and production expected to be higher. Should help in containing food inflation," Economic Affairs Secretary Shaktikanta Das tweeted.
Government last month sharply hiked MSP of pulses by up to Rs 425 per quintal for this year to boost output and check price rise. The MSP is the rate at which the government buys the grain from farmers.
The price of pulses, which have touched Rs 200/kg, has been a major factor contributing to rising wholesale and retail inflation.
While WPI inflation rose to 0.79 per cent in May -- the fastest pace since October 2014, consumer prices (retail inflation) surged 5.76 per cent in May, the fastest rate in 21 months.
Pulses inflation has remained in double digits since January 2015 and stood at 35.56 per cent in May.
JLR posts record sales in 6 months till June
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Tata Motors-owned Jaguar Land Rover on Thursday reported 22 per cent jump in global retail sales to a record 2,91,556 units in the first half this year riding on robust demand in Europe and the UK.
The growth has been primarily driven by an increase in Jaguar sales by 64 per cent for the first half of the year, JLR said in a statement.
With retails of almost 9,500 vehicles, the F-PACE is Jaguar's fastest selling model and the brand's growth is supported by continued strong sales of both the XE and XF, it added.
"During the first half of the year, Jaguar Land Rover has seen increased sales across all of its major regions with 35 per cent in Europe, 21 per cent in the UK, 21 per cent in North America, 19 per cent in China and 11 per cent in overseas markets," the company added.
Jaguar brand has sold 61,651 vehicles during the period, up 64 per cent from a year ago. Land Rover, on the other hand sold 2,29,905 vehicles in the same period, up 14 per cent from the same period last year.
JLR said it was also the company's best-ever June performance, with retail sales of 46,456 vehicles, 17 per cent up on 2015. June retail sales were up year-on-year across all regions with 44 per cent in North America, 19 per cent in China, 14 per cent in Europe, 8 per cent in the UK and 7 per cent in overseas markets.
Jaguar sales in last month were at 13,171 units, up 84 per cent whilst that of Land Rover were 33,285 units, up 3 per cent from June last year.
JLR Group Sales Operations Director Andy Goss said the company saw "record-breaking sales in both the UK and Europe" which was backed up by a strong performance in North America.
"Jaguar has seen unprecedented growth driven by the successful introduction of the Jaguar FPACE as well as continued strong sales of the XE. Land Rover has delivered a solid performance, particularly for the Discovery Sport, which is now the brand's best-selling vehicle," he added.
Jaguar Land Rover introduced new models such as the Range Rover Evoque Convertible and Jaguar F-PACE as well as opened a new 240 million pound facility in Brazil in the first half of 2016.
Tata Motors-owned Jaguar Land Rover on Thursday reported 22 per cent jump in global retail sales to a record 2,91,556 units in the first half this year riding on robust demand in Europe and the UK.
The growth has been primarily driven by an increase in Jaguar sales by 64 per cent for the first half of the year, JLR said in a statement.
With retails of almost 9,500 vehicles, the F-PACE is Jaguar's fastest selling model and the brand's growth is supported by continued strong sales of both the XE and XF, it added.
"During the first half of the year, Jaguar Land Rover has seen increased sales across all of its major regions with 35 per cent in Europe, 21 per cent in the UK, 21 per cent in North America, 19 per cent in China and 11 per cent in overseas markets," the company added.
Jaguar brand has sold 61,651 vehicles during the period, up 64 per cent from a year ago. Land Rover, on the other hand sold 2,29,905 vehicles in the same period, up 14 per cent from the same period last year.
JLR said it was also the company's best-ever June performance, with retail sales of 46,456 vehicles, 17 per cent up on 2015. June retail sales were up year-on-year across all regions with 44 per cent in North America, 19 per cent in China, 14 per cent in Europe, 8 per cent in the UK and 7 per cent in overseas markets.
Jaguar sales in last month were at 13,171 units, up 84 per cent whilst that of Land Rover were 33,285 units, up 3 per cent from June last year.
JLR Group Sales Operations Director Andy Goss said the company saw "record-breaking sales in both the UK and Europe" which was backed up by a strong performance in North America.
"Jaguar has seen unprecedented growth driven by the successful introduction of the Jaguar FPACE as well as continued strong sales of the XE. Land Rover has delivered a solid performance, particularly for the Discovery Sport, which is now the brand's best-selling vehicle," he added.
Jaguar Land Rover introduced new models such as the Range Rover Evoque Convertible and Jaguar F-PACE as well as opened a new 240 million pound facility in Brazil in the first half of 2016.
L&T Infotech 'actively' scouting for buys in analytics, consultin
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IT company L&T Infotech on Thursday said it is "actively" scouting for acquisitions to strengthen its offerings in areas such as analytics, consulting and Internet of Things.
The mid-sized IT company, which will come out with over Rs 1,200-crore IPO on July 11, said it would be interested in buys in the US, Europe or even Indian market.
"We are looking at the US and European markets predominantly as the acquisition has to cater to that market by selling to our 250-plus customers. We will also look at Indian companies that serve customers in the US and Europe," Sanjay Jalona, CEO and MD of Larsen and Toubro Infotech said at a conference.
Besides, analytics, consulting and Internet of Things, another area of interest for the company is cloud-based infrastructure transformation. Put simply, Internet of Things links smart everyday objects to the net, allowing them to send and receive data.
"Acquisition is an integral part of a services company as it helps to further strengthen the offerings. Also, innovation is happening in pockets of excellence," he said.
The IPO comprises an offer-for-sale of up to 1.75 crore equity shares by L&T Ltd. It constitutes 10.3 per cent of the post offer paid-up equity share capital of the company.
The IPO proceeds will not accrue to L&T Infotech as this is an offer for sale. The company further said it can utilise internal resources to fund acquisitions, can borrow from the market, or may even go for a primary issue in case of a sizable acquisition in future.
Ashok Sonthalia, CFO of L&T Infotech said that while the company is "actively" looking for buyouts, it had not closed anything.
In October 2014, the company acquired ISRC from Otis Elevator Company US and Otis Elevator Company (India), units of United Technologies Corporation. ISRC was a provider of software development work for Otis group companies.
In 2011, it acquired 100 per cent shareholding in a company from Citigroup Fund Services Canada. "This company is now known as LTIFST," said L&T Infotech's Red Herring Prospectus.
IT company L&T Infotech on Thursday said it is "actively" scouting for acquisitions to strengthen its offerings in areas such as analytics, consulting and Internet of Things.
The mid-sized IT company, which will come out with over Rs 1,200-crore IPO on July 11, said it would be interested in buys in the US, Europe or even Indian market.
"We are looking at the US and European markets predominantly as the acquisition has to cater to that market by selling to our 250-plus customers. We will also look at Indian companies that serve customers in the US and Europe," Sanjay Jalona, CEO and MD of Larsen and Toubro Infotech said at a conference.
Besides, analytics, consulting and Internet of Things, another area of interest for the company is cloud-based infrastructure transformation. Put simply, Internet of Things links smart everyday objects to the net, allowing them to send and receive data.
"Acquisition is an integral part of a services company as it helps to further strengthen the offerings. Also, innovation is happening in pockets of excellence," he said.
The IPO comprises an offer-for-sale of up to 1.75 crore equity shares by L&T Ltd. It constitutes 10.3 per cent of the post offer paid-up equity share capital of the company.
The IPO proceeds will not accrue to L&T Infotech as this is an offer for sale. The company further said it can utilise internal resources to fund acquisitions, can borrow from the market, or may even go for a primary issue in case of a sizable acquisition in future.
Ashok Sonthalia, CFO of L&T Infotech said that while the company is "actively" looking for buyouts, it had not closed anything.
In October 2014, the company acquired ISRC from Otis Elevator Company US and Otis Elevator Company (India), units of United Technologies Corporation. ISRC was a provider of software development work for Otis group companies.
In 2011, it acquired 100 per cent shareholding in a company from Citigroup Fund Services Canada. "This company is now known as LTIFST," said L&T Infotech's Red Herring Prospectus.
SBI Card to have more co-branding with other banks
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SBI Card, a subsidiary of State Bank of India, would go for co-branding of credit cards with more other banks which do not have big back-office support, an official said.
"We are talking with several other banks for co-branding of credit cards. These banks belong both in the public sector and small private sector banks", CEO of SBI Card Vijay Jasuja said.
He said since SBI Card is a separate company, it was able to have co-branding with other banks while others do not have that advantage since they were operating from their credit cards division.
SBI Card already has co-branding with Karur Vysya Bank, Bank of Maharashtra, Oriental Bank of Commerce, Federal Bank and Lakshmi Vilas Bank.
Jasuja said that GE, which was one of the shareholders of SBI Cards, would make an exit in September or October this year.
Launching the SBI Elite credit card, he said that SBI Card has a customer base of 3.75 million and the target is to add one million this fiscal.
In terms of market share, it was 15 per cent in terms of numbers, 15 per cent in terms of assets outstanding and 12 per cent in terms of spends.
Currently it enjoys the number three position in the credit cards industry in the country, he said.
SBI Card, a subsidiary of State Bank of India, would go for co-branding of credit cards with more other banks which do not have big back-office support, an official said.
"We are talking with several other banks for co-branding of credit cards. These banks belong both in the public sector and small private sector banks", CEO of SBI Card Vijay Jasuja said.
He said since SBI Card is a separate company, it was able to have co-branding with other banks while others do not have that advantage since they were operating from their credit cards division.
SBI Card already has co-branding with Karur Vysya Bank, Bank of Maharashtra, Oriental Bank of Commerce, Federal Bank and Lakshmi Vilas Bank.
Jasuja said that GE, which was one of the shareholders of SBI Cards, would make an exit in September or October this year.
Launching the SBI Elite credit card, he said that SBI Card has a customer base of 3.75 million and the target is to add one million this fiscal.
In terms of market share, it was 15 per cent in terms of numbers, 15 per cent in terms of assets outstanding and 12 per cent in terms of spends.
Currently it enjoys the number three position in the credit cards industry in the country, he said.
General Awareness
List of Cabinet Ministers with their Portfolio and Constituency
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Prime Minister Narendra Modi – Personnel, Public Grievances and Pensions, Department of Atomic Energy, Department of Space, All important policy issues and All other portfolios not allocated to any Minister.
PM Modi’s Constituency: Varanasi, Uttar Pradesh
Cabinet Ministers:
S.No Cabinet Ministers Portfolio Constituency 1 Shri Raj Nath Singh Home Affairs Lucknow, Uttar Pradesh 2 Smt. Sushma Swaraj External Affairs Vidisha , Madhya Pradesh 3 Shri Arun Jaitley Finance Gujarat Rajaya Sabha Corporate Affairs 4 Shri M. Venkaiah Naidu Urban Development Karnataka Rajya Sabha Housing and Urban Poverty Alleviation Information & Broadcasting 5 Shri Nitin Jairam Gadkari Road Transport and Highways Nagpur, Maharashtra Shipping 6 Shri Manohar Parrikar Defence Uttar Pradesh, Rajya Sabha 7 Shri Suresh Prabhu Railways Haryana, Rajya Sabha 8 Shri D. V. Sadananda Gowda Statistics & Programme Implementation Bangalore North, Karnataka 9 Sushri Uma Bharati Water Resources, River Development and Ganga Rejuvenation Jhansi, Uttar Pradesh 10 Dr. Najma A. Heptulla Minority Affairs Madhya Pradesh- Rajya Sabha 11 Shri Ramvilas Paswan Consumer Affairs, Food and Public Distribution Hajipuri, Bihar 12 Shri Kalraj Mishra Micro, Small and Medium Enterprises Deoria, Uttar Pradesh 13 Smt. Maneka Sanjay Gandhi Women and Child Development Pilibhit , Uttar Pradesh 14 Shri Ananthkumar Chemicals and Fertilizers Bangalore South, Karnataka Parliamentary Affairs 15 Shri Ravi Shankar Prasad Law & Justice Bihar – Rajya Sabha Electronics & Information Technology 16 Shri Jagat Prakash Nadda Health and Family Welfare Himachal Pradesh, Rajya Sabha 17 Shri Ashok Gajapathi Raju Pusapati Civil Aviation Vizianagaram , Andhra Pradesh 18 Shri Anant Geete Heavy Industries and Public Enterprises Raigad , Maharashtra 19 Smt. Harsimrat Kaur Badal Food Processing Industries Bathinda , Punjab 20 Shri Narendra Singh Tomar Rural Development Gwalior, Madhya Pradesh Panchayati Raj Drinking Water and Sanitation 21 Shri Chaudhary Birender Singh Steel Haryana, Rajya Sabha 22 Shri Jual Oram Tribal Affairs Sundargarh, Odisha 23 Shri Radha Mohan Singh Agriculture & Farmers Welfare Purvi Champaran , Bihar 24 Shri Thawar Chand Gehlot Social Justice and Empowerment Madhya Pradesh, Rajya Sabha 25 Smt. Smriti Zubin Irani Textiles Gujarat, Rajya Sabha 26 Dr. Harsh Vardhan Science and Technology Chandni Chowk, Delhi Earth Sciences 27 Shri Prakash Javadekar Human Resource Development Madhya Pradesh, Rajya Sabha
Ministers of State (Independent Charge)
1 Shri Rao Inderjit Singh Planning (Independent Charge)
Urban Development
Housing & Urban Poverty Alleviation 2 Shri Bandaru Dattatreya Labour and Employment (Independent Charge) 3 Shri Rajiv Pratap Rudy Skill Development & Entrepreneurship (Independent Charge) 4 Shri Vijay Goel Youth Affairs and Sports (Independent Charge)
Water Resources, River Development & Ganga Rejuvenation 5 Shri Shripad Yesso Naik AAYUSH (Independent Charge) 6 Shri Dharmendra Pradhan Petroleum and Natural Gas (Independent Charge) 7 Shri Piyush Goyal Power (Independent Charge)
Coal (Independent Charge)
New and Renewable Energy (Independent Charge)
Mines (Independent Charge) 8 Dr. Jitendra Singh Development of North Eastern Region (Independent Charge)
Prime Minister’s Office
Personnel, Public Grievances & Pensions
Department of Atomic Energy
Department of Space 9 Smt. Nirmala Sitharaman Commerce and Industry (Independent Charge) 10 Dr. Mahesh Sharma Culture (Independent Charge)
Tourism (Independent Charge) 11 Shri Manoj Sinha Communications (Independent Charge)
Railways 12 Shri Anil Madhav Dave Environment, Forest and Climate Change (Independent Charge)
Ministers of State:
1 General(Retd.) V.K. Singh External Affairs 2 Shri Santosh Kumar Gangwar Finance 3 Shri Faggan Singh Kulaste Health & Family Welfare 4 Shri Mukhtar Abbas Naqvi Minority Affairs
Parliamentary Affairs 5 Shri S.S. Ahluwalia Agriculture & Farmers Welfare
Parliamentary Affairs 6 Shri Ramdas Athawale Social Justice & Empowerment 7 Shri Ram Kripal Yadav Rural Development 8 Shri Haribhai Parthbhai Chaudhary Micro, Small & Medium Enterprises 9 Shri Giriraj Singh Micro, Small & Medium Enterprises 10 Shri Hansraj Gangaram Ahir Home Affairs 11 Shri G.M. Siddeshwara Heavy Industries & Public Enterprises 12 Shri Ramesh Chandappa Jigajinagi Drinking Water & Sanitation 13 Shri Rajen Gohain Railways 14 Shri Parshottam Rupala Agriculture & Farmers Welfare
Panchayati Raj 15 Shri M.J. Akbar External Affairs 16 Shri Upendra Kushwaha Human Resources Development 17 Shri Radhakrishnan P. Road Transport & Highways
Shipping 18 Shri Kiren Rijiju Home Affairs 19 Shri Krishan Pal Social Justice & Empowerment 20 Shri Jasvantsinh Sumanbhai Bhabhor Tribal Affairs 21 Dr. Sanjeev Kumar Balyan Water Resources, River Development & Ganga Rejuvenation 22 Shri Vishnu Deo Sai Steel 23 Shri Sudarshan Bhagat Agriculture and Farmers Welfare 24 Shri Y.S. Chowdary Science and Technology
Earth Science 25 Shri Jayant Sinha Civil Aviation 26 Col. Rajyavardhan Singh Rathore Information & Broadcasting 27 Shri Babul Supriyo Urban Development
Housing and Urban Poverty Alleviation 28 Sadhvi Niranjan Jyoti Food Processing Industries 29 Shri Vijay Sampla Social Justice & Empowerment 30 Shri Arjun Ram Meghwal Finance
Corporate Affairs 31 Dr. Mahendra Nath Pandey Human Resource Development 32 Shri Ajay Tamta Textiles 33 Smt. Krishna Raj Women & Child Development 34 Shri Mansukh L. Mandaviya Road Transport & Highways, Shipping,
Chemicals & Fertilizers 35 Smt. Anupriya Patel Health & Family Welfare 36 Shri C.R. Chaudhary Consumer Affairs, Food & Public Distribution 37 Shri P.P. Chaudhary Law & Justice
Electronics & Information Technology 38 Dr. Subhash Ramrao Bhamre Defence
- Prime Minister Narendra Modi – Personnel, Public Grievances and Pensions, Department of Atomic Energy, Department of Space, All important policy issues and All other portfolios not allocated to any Minister.PM Modi’s Constituency: Varanasi, Uttar PradeshCabinet Ministers:
S.No Cabinet Ministers Portfolio Constituency 1 Shri Raj Nath Singh Home Affairs Lucknow, Uttar Pradesh 2 Smt. Sushma Swaraj External Affairs Vidisha , Madhya Pradesh 3 Shri Arun Jaitley Finance Gujarat Rajaya Sabha Corporate Affairs 4 Shri M. Venkaiah Naidu Urban Development Karnataka Rajya Sabha Housing and Urban Poverty Alleviation Information & Broadcasting 5 Shri Nitin Jairam Gadkari Road Transport and Highways Nagpur, Maharashtra Shipping 6 Shri Manohar Parrikar Defence Uttar Pradesh, Rajya Sabha 7 Shri Suresh Prabhu Railways Haryana, Rajya Sabha 8 Shri D. V. Sadananda Gowda Statistics & Programme Implementation Bangalore North, Karnataka 9 Sushri Uma Bharati Water Resources, River Development and Ganga Rejuvenation Jhansi, Uttar Pradesh 10 Dr. Najma A. Heptulla Minority Affairs Madhya Pradesh- Rajya Sabha 11 Shri Ramvilas Paswan Consumer Affairs, Food and Public Distribution Hajipuri, Bihar 12 Shri Kalraj Mishra Micro, Small and Medium Enterprises Deoria, Uttar Pradesh 13 Smt. Maneka Sanjay Gandhi Women and Child Development Pilibhit , Uttar Pradesh 14 Shri Ananthkumar Chemicals and Fertilizers Bangalore South, Karnataka Parliamentary Affairs 15 Shri Ravi Shankar Prasad Law & Justice Bihar – Rajya Sabha Electronics & Information Technology 16 Shri Jagat Prakash Nadda Health and Family Welfare Himachal Pradesh, Rajya Sabha 17 Shri Ashok Gajapathi Raju Pusapati Civil Aviation Vizianagaram , Andhra Pradesh 18 Shri Anant Geete Heavy Industries and Public Enterprises Raigad , Maharashtra 19 Smt. Harsimrat Kaur Badal Food Processing Industries Bathinda , Punjab 20 Shri Narendra Singh Tomar Rural Development Gwalior, Madhya Pradesh Panchayati Raj Drinking Water and Sanitation 21 Shri Chaudhary Birender Singh Steel Haryana, Rajya Sabha 22 Shri Jual Oram Tribal Affairs Sundargarh, Odisha 23 Shri Radha Mohan Singh Agriculture & Farmers Welfare Purvi Champaran , Bihar 24 Shri Thawar Chand Gehlot Social Justice and Empowerment Madhya Pradesh, Rajya Sabha 25 Smt. Smriti Zubin Irani Textiles Gujarat, Rajya Sabha 26 Dr. Harsh Vardhan Science and Technology Chandni Chowk, Delhi Earth Sciences 27 Shri Prakash Javadekar Human Resource Development Madhya Pradesh, Rajya Sabha Ministers of State (Independent Charge)1 Shri Rao Inderjit Singh Planning (Independent Charge)
Urban Development
Housing & Urban Poverty Alleviation2 Shri Bandaru Dattatreya Labour and Employment (Independent Charge) 3 Shri Rajiv Pratap Rudy Skill Development & Entrepreneurship (Independent Charge) 4 Shri Vijay Goel Youth Affairs and Sports (Independent Charge)
Water Resources, River Development & Ganga Rejuvenation5 Shri Shripad Yesso Naik AAYUSH (Independent Charge) 6 Shri Dharmendra Pradhan Petroleum and Natural Gas (Independent Charge) 7 Shri Piyush Goyal Power (Independent Charge)
Coal (Independent Charge)
New and Renewable Energy (Independent Charge)
Mines (Independent Charge)8 Dr. Jitendra Singh Development of North Eastern Region (Independent Charge)
Prime Minister’s Office
Personnel, Public Grievances & Pensions
Department of Atomic Energy
Department of Space9 Smt. Nirmala Sitharaman Commerce and Industry (Independent Charge) 10 Dr. Mahesh Sharma Culture (Independent Charge)
Tourism (Independent Charge)11 Shri Manoj Sinha Communications (Independent Charge)
Railways12 Shri Anil Madhav Dave Environment, Forest and Climate Change (Independent Charge) Ministers of State:1 General(Retd.) V.K. Singh External Affairs 2 Shri Santosh Kumar Gangwar Finance 3 Shri Faggan Singh Kulaste Health & Family Welfare 4 Shri Mukhtar Abbas Naqvi Minority Affairs
Parliamentary Affairs5 Shri S.S. Ahluwalia Agriculture & Farmers Welfare
Parliamentary Affairs6 Shri Ramdas Athawale Social Justice & Empowerment 7 Shri Ram Kripal Yadav Rural Development 8 Shri Haribhai Parthbhai Chaudhary Micro, Small & Medium Enterprises 9 Shri Giriraj Singh Micro, Small & Medium Enterprises 10 Shri Hansraj Gangaram Ahir Home Affairs 11 Shri G.M. Siddeshwara Heavy Industries & Public Enterprises 12 Shri Ramesh Chandappa Jigajinagi Drinking Water & Sanitation 13 Shri Rajen Gohain Railways 14 Shri Parshottam Rupala Agriculture & Farmers Welfare
Panchayati Raj15 Shri M.J. Akbar External Affairs 16 Shri Upendra Kushwaha Human Resources Development 17 Shri Radhakrishnan P. Road Transport & Highways
Shipping18 Shri Kiren Rijiju Home Affairs 19 Shri Krishan Pal Social Justice & Empowerment 20 Shri Jasvantsinh Sumanbhai Bhabhor Tribal Affairs 21 Dr. Sanjeev Kumar Balyan Water Resources, River Development & Ganga Rejuvenation 22 Shri Vishnu Deo Sai Steel 23 Shri Sudarshan Bhagat Agriculture and Farmers Welfare 24 Shri Y.S. Chowdary Science and Technology
Earth Science25 Shri Jayant Sinha Civil Aviation 26 Col. Rajyavardhan Singh Rathore Information & Broadcasting 27 Shri Babul Supriyo Urban Development
Housing and Urban Poverty Alleviation28 Sadhvi Niranjan Jyoti Food Processing Industries 29 Shri Vijay Sampla Social Justice & Empowerment 30 Shri Arjun Ram Meghwal Finance
Corporate Affairs31 Dr. Mahendra Nath Pandey Human Resource Development 32 Shri Ajay Tamta Textiles 33 Smt. Krishna Raj Women & Child Development 34 Shri Mansukh L. Mandaviya Road Transport & Highways, Shipping,
Chemicals & Fertilizers35 Smt. Anupriya Patel Health & Family Welfare 36 Shri C.R. Chaudhary Consumer Affairs, Food & Public Distribution 37 Shri P.P. Chaudhary Law & Justice
Electronics & Information Technology38 Dr. Subhash Ramrao Bhamre Defence
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