NDTV says Prannoy, Radhika Roy resigned as directors of promoter group :-ET Nov 30,2022

 

New Delhi Television Ltd founders Prannoy Roy and Radhika Roy have resigned as directors of promoter group vehicle RRPRH with immediate effect, the company said in a regulatory filing.

NDTV had said on Monday an entity backed by the founders had issued shares of the company to a unit of Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to control of the media firm.

The transfer of shares will give Adani control over a 29.18% stake in the news group. Adani is also conducting an open offer running between Nov. 22 and Dec. 5 for a 26% stake in NDTV.

The open offer drew bids for 5.3 million shares as of Monday's close, or around 32% the 16.8 million shares on offer, exchange data showed.

The ports-to-energy conglomerate run by Asia's richest man unveiled plans late in August to acquire a majority stake in the popular news network, seen as a bastion of independent media.

More than a decade ago, NDTV founders Radhika and Prannoy Roy took a 4 billion Indian rupee ($49.00 million) loan from a company that Adani acquired in August. In exchange, they issued warrants that allowed the company to acquire a 29.18% stake in the news group.

NDTV had sought to block the transfer of shares in August, saying its founders had since 2020 been barred from buying or selling shares in India's securities market, and so cannot transfer shares which Adani was trying to secure in a bid to exert control.

NDTV said the entity backed by its founders issued shares after the market regulator's restrictions on its founders expired on Nov. 26.

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Germany poised to loosen immigration rules for skilled workers :-ET Nov 30,2022

 

Germany is poised to lower hurdles for skilled workers from abroad in a bid to plug yawning staff shortages in Europe’s largest economy.

Chancellor Olaf Scholz’s cabinet is due on Wednesday to approve measures to allow citizens of countries outside the European Union who’ve signed a contract with a domestic employer to start work immediately, according to a strategy paper seen by Bloomberg. They would then have their vocational qualification recognized later.

The government also wants to make it easier for younger immigrants to take up vocational training or study in Germany. The plan envisages a transparent, unbureaucratic points system for candidates interested in finding work in Germany -- similar to long-standing programs in countries like Canada.

Economy Minister Robert Habeck will present the new strategy to reporters after Wednesday’s cabinet meeting, along with the ministers of interior, labor and education.

“This will be the most liberal immigration law in Europe,” Habeck said Tuesday at an industry event in Berlin. He warned that Germany isn’t just facing a shortage of skilled labor, but of workers in general, and said the nation had “been blind to this problem in recent years.”

Decades of low birth rates and uneven immigration flows have created a demographic imbalance that is undermining Germany’s economy, which is still dealing with the fallout from the coronavirus pandemic and grappling with the energy crisis triggered by Russia’s war on Ukraine.

Scholz’s Social Democrats, together with Habeck’s Greens party and the business-friendly Free Democrats want to attract 400,000 qualified workers a year from outside Germany. Half of all companies are struggling to find skilled workers, and the shortage is particularly acute in services, according to a survey published in August by the Munich-based Ifo institute.

The government is also planning to overhaul Germany’s citizenship rules. Interior Minister Nancy Faeser said Monday that the aim is to get the necessary legislation through parliament in the first half of next year.

Opposition parties have attacked the proposals, which would remove hurdles to naturalization, shorten the time applicants must live in Germany before applying for citizenship and allow people to retain multiple passports.

--With assistance from Arne Delfs.

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AGNODICE or AGNODIKE (ANCIENT GREEK) - First female midwife or physician in ancient Athens.

By Hasan Syed thru FB Ole Times

In ancient Greece, women were forbidden to study medicine. B.C. Born in 300, Agnodice cut her hair and entered Alexandria medical school dressed as a man.

While walking the streets of Athens after completing his medical education, he heard the cries of a woman in labor. However, the woman, writhing with pain, did not want Agnodice to touch her because she thought he was a man.

Agnodice proved that she was a woman by removing her clothes without anyone seeing and gave birth.

This event spread among the women and all the women who were sick began to go to Agnodice. Envious, male doctors accused Agnodice, whom they thought was male, of seducing female patients.

Agnodice, who was brought before the court on this charge, was sentenced to death.

So to save her life, she said she was a woman, not a man. This time, she was sentenced to death for studying medicine and practicing medicine as a woman.

All women revolted, especially the wives of the judges who had given the death penalty.

Some said that if Agnodice was killed, they would go to their deaths with her. Unable to withstand the pressures of their wives and other women, the judges lifted Agnodice's sentence, and from now on, women were also allowed to practice medicine, provided they only looked after women.

Thus, Agnodice made her mark in history as the first female doctor and gynecologist.

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Cars, aircraft and trains: Sanctions-hit Russia asks India to send parts for 500 products ;-ET Nov 29 ,2022

 

NEW DELHI: Moscow has sent India a list of more than 500 products for potential delivery including parts for cars, aircraft and trains, four sources familiar with the matter said, as sanctions squeeze Russia's ability to keep vital industries running

The list, a version of which has been seen by Reuters in New Delhi, is provisional and it is unclear how many of the items will eventually be exported and in what quantity, but an Indian government source said the request was unusual in its scope.

India is keen to boost trade in this way, said the source, as it tries to narrow a ballooning trade deficit with Russia. Some companies have expressed concern, however, about potentially falling foul of Western sanctions.

An industry source in Moscow, who declined to be named because of the sensitivity of the issue, said Russia's Ministry of Industry and Trade asked large companies to supply lists of raw materials and equipment they needed.

The source added that further discussion would be needed to agree specifications and volumes and that the outreach was not limited to India.

Russia's Ministry of Industry and Trade and the Indian foreign and commerce ministries and the prime minister's office did not immediately respond to requests for comment.

Russia's requests were made weeks ahead of Indian Foreign Minister Subrahmanyam Jaishankar's visit to Moscow starting Nov. 7, two of the Indian sources said. It was not immediately clear what was conveyed by New Delhi to Russia during the visit.

Prime Minister Narendra Modi's government has not joined Western countries in openly criticising Moscow for the war in Ukraine, and has sharply increased purchases of Russian oil that have cushioned it from some of the impact of sanctions.

During the Moscow visit, Jaishankar said India needed to boost exports to Russia to balance bilateral trade that is now tilted towards Russia.

He was accompanied on the visit by senior officials in charge of agriculture, petroleum and natural gas, ports and shipping, finance, chemicals and fertiliser, and trade - which he said showed the importance of ties with Russia.

RUSSIA'S STRUGGLES

Western sanctions have crippled supplies of some crucial products in Russia.

Airlines are experiencing an acute shortage of parts because almost all planes are foreign-made. Car parts are also in demand, with global automakers having left the market.

A source in Russia's car sales industry said the trade ministry had sent a list of car parts needed to corresponding ministries and state agencies in other countries, including India.

The list of items from Russia, which runs to nearly 14 pages, includes car engine parts like pistons, oil pumps and ignition coils. There is also demand for bumpers, seatbelts and infotainment systems.

For aircraft and helicopters, Russia requested 41 items including landing gear components, fuel systems, communication systems and fire extinguishing systems, life jackets and aviation tyres.

Also on the list were raw materials to produce paper, paper bags and consumer packaging and materials and equipment to produce textiles including yarns and dyes, according to the document reviewed by Reuters.

Russian metals producers like nickel and palladium giant Nornickel have said Western sanctions and self-sanctioning by some suppliers have made it difficult for industrial companies to obtain imported equipment, spare parts, materials and technologies in 2022, posing a challenge to their development programmes.

The list includes nearly 200 metallurgy items.

Russia has been India's largest supplier of military equipment for decades and it is the fourth-biggest market for Indian pharmaceutical products.

But with purchases of Russian oil soaring and coal and fertiliser shipments also strong, India is looking for ways to rebalance trade, the first Indian government source said.

India's growing trade with Russia

Indian imports from Russia have grown nearly five times to $29 billion between Feb. 24 and Nov. 20 compared with $6 billion in the same period a year ago. Exports, meanwhile, have fallen to $1.9 billion from $2.4 billion, the source said.

India is hoping to boost its exports to nearly $10 billion over coming months with Russia's list of requests, according to the government source.

But some Indian companies are reluctant to export to Russia over fears of being sanctioned by the West, the lack of clarity over payments and challenges to securing insurance.

"There is a hesitancy among exporters ... particularly on sanctioned items," said Ajay Sahai, director general of the Federation of Indian Export Organisations (FIEO), a body supported by India's commerce ministry.

Sahai, who is aware of Russia's request, said even small- and medium-sized exporters who could meet some of the requests and had previously exported to Iran after Western sanctions, were not enthusiastic.

Large Indian lenders are also reluctant to process direct rupee trade transactions with Russia, months after the mechanism was put in place, for fear of being sanctioned.

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Yes Bank acquires 9.9% stake in JC Flowers ARC After transfer of bad loans to the ARC, bank's top boss Prashant Kumar believes the GNPA ratio can fall to under two percent MONEYCONTROL NEWS NOVEMBER 29, 2022 / 09:26 AM IST moneycontrol news

 

YES BANK has inked the share purchase agreement (SPA) with JC Flowers Asset Reconstruction Company (ARC), acquiring a 9.9 percent stake in the ARC at Rs 11.43 per share, the private sector lender informed bourses after market hours on November 28.

A subsequent acquisition of additional shareholding of 10 percent is subject to requisite regulatory approvals, the bank said.

On September 20, Yes Bank's board had approved the sale of stressed loans worth Rs 48,000 crore to JC Flowers, after receiving no other challenger bids.

The bank intends to participate as a minority shareholder in the ARC. "This will be an ancillary to the main line of business of the bank", it said. As of 31 March, 2022, JC Flowers ARC had Rs 595 crore in assets under management with annual turnover of Rs 19.9 crore.

For the three-month ended 30 September, 2022, Yes Bank's standalone net profit dropped by 32.2 percent year-on-year to Rs 152.8 crore. In the corresponding period of the past fiscal, the private lender's net profit stood at Rs 225.50 crore.

Total income during Q2 FY23, however, was higher at Rs 6,394.11 crore as against Rs 5,430.30 crore in the same period a year ago. Gross non-performing assets (NPAs or bad loans) came down to 12.89 percent of gross advances as against 14.97 percent in the year-ago period.

After transfer of bad loans to the ARC, bank's top boss Prashant Kumar believes the GNPA ratio can fall further to under two percent.

FPIs flock to Indian market; buy shares worth Rs 31,630 crore in November According to experts, after remaining net sellers in August and September, Foreign Portfolio Investors (FPIs) are unlikely to be major sellers going forward. PTI NOVEMBER 27, 2022 / 01:26 PM IST moneycontrol news

 

Foreign portfolio investors have rediscovered their liking for Indian equities, making a net investment of Rs 31,630 crore in November on hopes of an end to the aggressive rate hikes, and positivity about overall macroeconomic trends.

According to experts, after remaining net sellers in August and September, Foreign Portfolio Investors (FPIs) are unlikely to be major sellers going forward.

Rising expectations of aggressive rate hike cycles nearing an end on relatively easing inflationary curve, better than expected US macroeconomics data and resilience of the Indian economy compared to global counterparts are also driving FPI inflows.

According to data available with the depositories, FPIs invested a net sum of Rs 31,630 crore in equities during November 1-25. In comparison, there was a net outflow of Rs 8 crore and Rs 7,624 crore in October and September, respectively.

In August, FPIs were net buyers to the tune of 51,200 crore and they purchased equities worth nearly Rs 5,000 crore in July.

Prior to this positive trend, FPIs remained net sellers for nine straight months starting October 2021 amid a continuous rise in the dollar.

Going ahead, FPI flows are expected to remain volatile in the near term given the geo-political concerns, Shrikant Chouhan, Head – Equity Research (Retail), Kotak Securities, said.

So far this year, the total outflow by FPIs in equities stood at Rs 1.37 lakh crore.

The spurt in net inflows in November could be attributed to recent surge in equity markets, stability in the Indian economy compared to its global counterparts and stabilisation in the rupee, Morningstar India Associate Director – Manager Research Himanshu Srivastava said.

In a reflection of bullish market sentiments, Sensex and Nifty scaled lifetime highs for the second straight session on November 25.

On the global front, lower than anticipated rise in inflation in the US raised hopes that the Federal Reserve may not go for further aggressive rate hikes, which also eased recessionary concerns in the US. This helped improve sentiments and directed foreign flows towards Indian shores, Srivastava said.

In terms of sectors, FPI buying was seen in financial services, IT, autos and capital goods.

"FPIs are unlikely to be major sellers, going forward since their earlier policy of continuous selling in banking have cost them heavily. When FPIs were sellers earlier, Domestic Institutional Investors (DIIs) were buyers and they gained from the FPI policy of sustained selling," VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Srivastava said that inflation numbers as well as the US Federal Reserve's policy stance will continue to be the most important factors for FPIs to consider when investing in global markets, including India.

Furthermore, they will be closely monitoring how India's economic environment evolves, as well as how Indian equities compare in terms of valuation and risk-reward profile to other comparable markets, he said.

"FPIs were selling earlier this year since the dollar was continuously rising. Now the market construct in the US has changed to 'rising equity, falling yields and falling dollar'. This is favourable for the continuation of FPI flows, going forward," Vijayakumar said.

On the other hand, foreign investors have pulled out nearly Rs 2,300 crore from the debt market during the period under review.

Apart from India, FPI flows were positive for the Philippines, South Korea, Taiwan and Thailand so far this month.

PTI

500 mn users, including from India, at risk in WhatsApp data breach: Report From India, more than 6 million WhatsApp users could be at risk, the report said Topics WhatsApp leak | Online privacy | BS Web Reports BS Web Team | New Delhi Last Updated at November 28, 2022 00:10 IST Business Standard

 

WhatsApp data of nearly half a billion users from 84 countries around the world, including India, could have been breached and put up for sale online, according to a report by Cybernews.

The report said it investigated a data sample -- after a post on a “well-known hacking community forum” claimed to be selling an up-to-date database of 487 million WhatsApp users -- and found that the claim was likely true, meaning 25% of the total 2 billion monthly active users worldwide could be at risk.

Leaked phone numbers could be used for any number of reasons, including marketing and phishing.

The report said more than 32 million of the leaked records are said to be from users in the US, followed by the UK (11 mn). Other nations with the most number of affected users include Egypt (45 mn), Italy (35 mn), Saudi Arabia (29 mn), France (20 mn), Turkey (20 mn), and Russia (10 mn). From India, the report added, more than 6 million WhatsApp users could be at risk.

Cybernews said it received a sample of around 2,000 numbers to verify the data breach claims and found that they belonged to WhatsApp users.

This isn’t the first time Meta and its online platforms have found itself in the middle of a data security issue.

Last year, information about more than 500 million users of Facebook, another Meta-owned company, was offered online for free. In 2019, data of 419 million Facebook and 49 million Instagram users were exposed. In the same year, it had faced another breach leaving data of 267 million users exposed.

SUNDAY SPECIAL :-WHAT ARE SOME OF THE MOST COMMON SUPERSTITIONS IN INDIAN CULTURE? BUT WITH REASONING :-BY Ashish Ghodke thru Quora

 

1 No Hair Cut On Tuesday

2 Bath after attending a funeral ceremony

3 Don't look in a broken mirror

4 Sweeping the floor during the evening brings bad luck

5 Crush the snake head after killing it .

6 Don't cut nails after Sunset .

7 Don't step out during an Eclipse

8 Swallow tulsi leaves never chew them

9 Eat curd and sugar before heading out for good luck

10 Don't go near a tree in the night

11 Girl not allowed to work during menstruation

12 Pregnant women not allowed to go out in Eclipse

13 Plastering floor With Cow Dung

14 Do not Sleep with your head Facing the north

15 Using lemon and green chilies

These are the common superstition in india that are followed blindly . We need to spread awarness about this things that we are using without knowing the purpose of it . And to make our future generations aware of this presious remedies that are gifted from our Parents .

Hope you Share this answer with Your friends and family to make them more knowledgeable

And Your kind Upvotes Will surely motivate me to research and learn new things to write the Answer .

New company registration system to be in place by December ;-Mint. Updated: 26 Nov 2022, 06:57 AM IST Gireesh Chandra Prasad

 

New Delhi: The Union government plans to introduce a new system for company registrations in a month that will replace filing over 50 forms in portable document format (PDF) with web-based ones to transform the compliance and statutory filing architecture for businesses.

The new forms will cover every reporting requirement of a new company ranging from reporting details of registered office and directors of the company, seeking commencement of business certificate and various other disclosures. The current forms are likely to remain suspended for about a fortnight during the transition process, according to a person informed about the transition process.

The revamped version of company filings with web-based forms is expected to employ new IT tools to improve user experience and make regulatory oversight of businesses efficient while enabling policymakers to detect financial stress as well as governance irregularities in the corporate sector at an early stage.

The government is likely to come out with a public notice about the transition and the period during which existing forms will remain suspended. Relief is likely to be offered to businesses in terms of extra time for fulfilling their compliance obligations so that the absence of forms for a brief period during the transition does not affect them in any manner, the person cited above said on the condition of anonymity. A similar relaxation was given when a new filing system for limited liability partnerships was rolled out in March.

The ministry is attempting to automate processes to reduce reliance on manual effort and use technology to track down companies that will be charged for non-compliance, explained Sonam Chandwani, managing partner at KS Legal and Associates.

“This will speed up the process and automatically detect any filing errors or other non-compliances by the companies. Since humans are slow and ineffective, and technology will eventually take over, the goal is to keep a close eye on non-compliant entities and act swiftly against those businesses. This is a positive step taken in the right direction," Chandwani said.

The new system for the incorporation of companies is part of version three of the MCA21 portal that the ministry of corporate affairs has started implementing. Once the company registration part is rolled out, the rest of the corporate filing requirements will also be revamped, all of which is expected to be completed by the end of the year, the person said.

Version three of the MCA21 project, among the first lot of mission-mode e-governance projects in the country, has been designed to strengthen enforcement, promote ease of doing business and enhance user experience, according to Nischal Arora, partner, regulatory at business advisory firm Nangia Andersen India.

Arora said it is also proposed to facilitate seamless integration and data exchange among regulators in the country. This version, he said, has additional modules for compliance management, e-adjudication, e-scrutiny and e-consultation. Under the revamped portal, the ministry could identify non-compliant companies, issue e-notices to such non-compliant entities and e-adjudicate them through registrars of companies or regional directors as the case may be. “Thus, aided by emerging technologies such as artificial intelligence and machine learning, MCA21 version three is envisioned to transform the corporate regulatory environment in India," Arora said.

The government generally grants the extended period of time towards regular filings as has been done earlier this year in the case of LLPs and a few other forms, and businesses need to plan accordingly as and when the government issues the notification, he said.

An email sent to the ministry of corporate affairs spokesperson on Wednesday seeking comments remained unanswered at the time of publishing.

The government has established a help desk to streamline the processes and provide support, Chandwani of KS Legal said.