Tag: llv news

  • Crores for Green Initiatives on Delhi-Mumbai Expressway

    Crores for Green Initiatives on Delhi-Mumbai Expressway

    New Delhi: The National Highways Authority of India (NHAI) announced that its special company, DME Development Ltd (DMEDL), will raise ₹1,000 crores through green bonds. This money will help make climate-friendly improvements on the Delhi-Mumbai Expressway.

    DMEDL plans to collect this money in two parts: an initial amount of ₹500 crores and a chance to raise another ₹500 crores if there is a lot of interest from investors. The bonds are set to launch in December 2024.

    The money from these bonds will be used for several eco-friendly projects, including planting trees along the road, building safe passages for animals, creating natural drainage systems, installing solar-powered streetlights, recycling waste, and harvesting rainwater.

    NHAI Chairman Santosh Kumar Yadav mentioned that these green bonds will encourage more investment in projects that help the environment, particularly in the roads and highways sector. They will also help save money in the long run by using less energy and reducing harmful vehicle emissions.

    By issuing these bonds, DMEDL aims to improve its financial standing, lower borrowing costs, and attract investors who care about environmental and social issues. DMEDL has asked Care Edge Analytics to review and confirm its green projects.

    Founded in August 2020, DMEDL is a company set up by NHAI to finance, build, and operate the new Delhi-Mumbai expressway. It has received an AAA rating from agencies like CRISIL, CARE, and India Rating. DMEDL has plans to raise around ₹48,000 crores through loans and bonds from banks and has already secured about ₹42,000 crores.

  • Blinken Accuses Lavrov of Misinformation at OSCE Meeting in Malta

    Blinken Accuses Lavrov of Misinformation at OSCE Meeting in Malta

    On Thursday, U.S. Secretary of State Antony Blinken criticized Russia’s Foreign Minister, Sergei Lavrov, for spreading a lot of false information. Blinken blamed Russia for making the war in Ukraine worse. Both men were in Malta for a meeting of the Organization for Security and Cooperation in Europe (OSCE). This was Lavrov’s first visit to a European Union country since Russia invaded Ukraine in 2022.

    Blinken expressed disappointment that Lavrov had left the meeting room without listening to others speak, saying, “It would have been nice if he stayed to listen to us.” He warned everyone not to be fooled by Lavrov’s lies, saying this war has nothing to do with Russia’s safety. It’s really about Russian President Putin wanting to erase Ukraine entirely.

    Blinken also discussed the idea of “escalation” in the conflict. He pointed out concerns like North Korea sending troops to help Russia and ongoing attacks on Ukraine’s energy, which could impact every country in the room. Despite the tensions, Blinken and Lavrov were not scheduled to meet directly in Malta.

  • Devendra Fadnavis Sworn in as Maharashtra CM with New Deputy CMs!

    Devendra Fadnavis Sworn in as Maharashtra CM with New Deputy CMs!

    Devendra Fadnavis Sworn in as Maharashtra Chief Minister for the Third Time

    On Thursday, Devendra Fadnavis took the oath of office as Chief Minister of Maharashtra for the third time. He was joined by Ajit Pawar from the Nationalist Congress Party (NCP) and Eknath Shinde from the Shiv Sena as Deputy Chief Ministers.

    The recent state elections held in November saw the Mahayuti alliance, consisting of the BJP, Shiv Sena, and NCP, win a huge victory, securing 230 out of 288 seats. Although the BJP won the most seats (132), it fell short of the 145 needed to have a majority. Eknath Shinde’s faction won 57 seats, while Ajit Pawar’s NCP won 41 seats.

    The swearing-in ceremony, attended by over 40,000 people, including Prime Minister Modi and many state leaders, was a grand event. Prominent business figures and celebrities were also present. Fadnavis had previously served as Chief Minister from 2014 to 2019 and had a brief term in November 2019.

    The BJP wanted Fadnavis back in the Chief Minister role, causing some tension with Shinde’s faction, which wanted to keep their leader in charge. While discussions were happening between the parties, the BJP did offer deputy positions to Shinde and Pawar. They are still figuring out ministers and resources.

    Fadnavis mentioned that he asked Eknath Shinde to join the new government. Fadnavis is hopeful about Shinde’s positive response after their recent conversation. Shinde congratulated Fadnavis but said he would update reporters later about his involvement in the swearing-in.

  • ED Busts Huge ₹640 Crore Scam Involving Chartered Accountants and Crypto Trader

    ED Busts Huge ₹640 Crore Scam Involving Chartered Accountants and Crypto Trader

    A big scam involving chartered accountants, a company secretary, and a cryptocurrency trader has been discovered by the Enforcement Directorate (ED). This group tricked people out of more than ₹640 crore with various online scams.

    Two chartered accountants, Ajay and Vipin Yadav, along with crypto trader Jitendra Kaswan, were arrested from November 28 to 30 during searches in the Delhi-NCR area. The investigation showed they ran a huge money-laundering scheme that connected to people overseas and used secret messaging apps.

    This gang operated in different states, using fake online betting, gambling, part-time job listings, and phishing scams to take money from people. They funneled the stolen money through over 5,000 fake bank accounts in India before sending it to a payment service from UAE called “PYYPL.” Some cash was then withdrawn in Dubai using Indian bank cards.

    During a raid at Ashok Kumar Sharma’s home in Bijwasan, Delhi, associates of the suspects attacked ED officials, injuring one. The police and CRPF had to step in to protect the rest of the team. Ashok is currently on the run, but his brother, Radhe Shyam Sharma, was arrested for the attack.

    The ED searched 13 locations in Delhi, Gurgaon, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata. They found lots of debit cards, cheque books, ATM cards, PAN cards, digital wallet phrases, ₹47 lakh in cash, and cryptocurrency (USDT) worth ₹1.36 crore from a wallet. They also froze several bank accounts.

    The ED said: “The handlers gave instructions about opening fake accounts, handling cash, and buying crypto through a group chat. We found more than 2,000 documents that detail transactions in many bank accounts and crypto purchases. We are currently analyzing these documents.”

  • ICC Announces Women’s Player of the Month Nominees for November 2024

    ICC Announces Women’s Player of the Month Nominees for November 2024

    Dubai, UAE: The International Cricket Council (ICC) revealed on Thursday the nominees for the Women’s Player of the Month for November 2024. The players nominated are Nadine de Klerk from South Africa, Danni Wyatt-Hodge from England, and Sharmin Akhter from Bangladesh.

    Nadine de Klerk shone brightly in South Africa’s recent T20I series against England, helping her team win all three matches. She scored a total of 80 runs, averaging 80 with an impressive strike rate of 135.59, plus took four wickets. In the first game, she made an important 29 runs and took 2 wickets, and in the second match, she scored 32 runs and took another two wickets. Nadine finished as the top scorer and wicket-taker for her team.

    Danni Wyatt-Hodge led the English team to a clear 3-0 victory in their T20I series against South Africa, becoming the top run-scorer with 142 runs. She had an average of 71 and an explosive strike rate of 163.21. After scoring only 11 runs in the first match, she made a fantastic 78 runs in the second game and finished with an unbeaten 53 runs in the last game, helping England to win comfortably.

    Sharmin Akhter was essential for Bangladesh in their ODI series against Ireland, helping her team win. She scored a total of 139 runs in just two matches, averaging 69.50. In the first match, she almost made her first ODI century with 96 runs, leading her team to a big 154-run victory. She followed that performance with a solid 43 runs in the second match, giving Bangladesh a 2-0 lead in the series.

  • Market Update: Sugar Stocks React in Thrilling Trading Session!

    Market Update: Sugar Stocks React in Thrilling Trading Session!

    In New Delhi, trading in sugar shares saw some big changes on Thursday. Triveni Engineering & Industries Ltd. was the top performer, up by a whopping 9.61%! Other companies in the green included Simbhaoli Sugars Ltd. (up 1.34%), DCM Shriram Industries Ltd. (up 1.08%), and Avadh Sugar & Energy Ltd. (up 0.66%).

    On the flip side, EID Parry (India) Ltd. dropped by 1.62%. It wasn’t alone—Magadh Sugar & Energy Ltd. fell by 1.50%, and Ugar Sugar Works Ltd. went down by 1.41%.

    The overall market also had an exciting day, with the NSE Nifty50 index climbing 240.96 points to reach 24,708.4. Similarly, the BSE Sensex rose by 809.53 points, finishing at 81,765.86.

    In the Nifty pack, Tata Consultancy Services (up 2.52%), Infosys (up 2.42%), and Titan Company (up 2.28%) were among the big winners. However, SBI Life Insurance Company saw a decrease of 1.43%, while Bajaj Auto dropped by 1.2%.

    Overall, it was an eventful day for sugar stocks and the market as a whole!

  • Priyanka Chopra’s Production Company Moves to the U.S. – Future Plans Revealed!

    Priyanka Chopra’s Production Company Moves to the U.S. – Future Plans Revealed!

    Priyanka Chopra’s mom, Madhu Chopra, recently shared that Priyanka’s production company, Purple Pebble Pictures, has now moved to the United States. This news comes as people are excited about Priyanka returning to Bollywood movies.

    In an interview, Madhu explained that they won’t be making films in India for a while but hope Priyanka will return to make movies there later. She added that there are currently no plans for new projects.

    Purple Pebble Pictures started in 2016 with a Bhojpuri film called Bam Bam Bol Raha Hai Kashi. It went on to produce several successful movies, including the award-winning Ventilator and Paani. Priyanka acted in some films her company helped produce, like The Sky Is Pink and The White Tiger.

    On her work front, Priyanka just finished filming the second season of Citadel in London. She has new roles in movies like Heads of State, starring alongside John Cena and Idris Elba, and The Bluff, where she plays a former pirate trying to protect her family from her past.

  • RBI’s December Meeting: Interest Rates and Economic Outlook Explained

    RBI’s December Meeting: Interest Rates and Economic Outlook Explained

    The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will announce important policy decisions on December 6, 2024, at 10:00 am. This three-day meeting, beginning on December 4, is very important because it is the first time in over two and a half years that the MPC will focus more on slowing economic growth.

    The RBI has kept one of its main interest rates at 6.5% during the last ten meetings. They are concerned about high food prices, which are driving inflation up but have also been positive about growth because of good monsoon rains and hopes for increased investments in businesses.

    RBI Governor, Shaktikanta Das, has ruled out cutting interest rates right away, but there are worries that the policies might be slowing down economic activity. Recently, Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal have called for lower borrowing costs to help boost growth.

    Many bond traders think a rate cut is coming soon, as bond yields are falling. Economists like Teresa John believe the RBI will recognize the need for support for the economy and will likely cut rates next year. However, she suggests they might surprise everyone with a cut now.

    The RBI is also expected to lower its economic growth forecasts due to disappointing growth numbers. Economists have reduced their predictions too. For example, Goldman Sachs now expects growth to be only 6% instead of 6.4%. Meanwhile, inflation has risen above the RBI’s target of 4%.

    This situation makes it challenging for the RBI. Changes in food prices have caused inflation to reach 6.2%, the highest rise in over a year. Economists point out that the RBI might lower its annual growth prediction by 0.3% to 0.4% while increasing its inflation forecast.

    There’s also talk that more MPC members may support an interest rate cut, especially since one member already voted for it. This could lead to at least two members voting to lower the key rate to help boost growth.

    Furthermore, the RBI might introduce additional liquidity measures due to recent capital outflows and pressure on the Indian rupee. The rupee has been dropping in value, which means any cuts might further weaken it.

    Liquidity in the banking system is tight due to the RBI’s large interventions and cash outflows. Analysts think the RBI could cut the Cash Reserve Ratio (CRR), which is the amount of money banks need to keep on hand, as a way to signal upcoming monetary easing.

    People are also curious about who will be the next RBI Governor since Das’s term ends on December 10. Last time he was extended, it was announced well in advance.

  • India vs Australia: Second Test of Border-Gavaskar Trophy Begins!

    India vs Australia: Second Test of Border-Gavaskar Trophy Begins!


    Exciting cricket is on the way as the Border-Gavaskar Trophy continues! The second Test match between India and Australia will take place from December 6 to December 10 at the famous Adelaide Oval. This match is special because it will be a day-night game, meaning we’ll watch in the evening under lights!

    After a fantastic victory in Perth, where India beat Australia by 295 runs thanks to amazing bowling, India is feeling strong. But Australia has had some time to prepare and fix their mistakes. They play really well in pink-ball matches at home and will be looking to bounce back.

    India will happily welcome back their captain, Rohit Sharma, who has decided to move down to the middle order. This will help opening batsmen KL Rahul and Yashasvi Jaiswal to shine. Shubman Gill is also coming back into the team. On the Australian side, Josh Hazlewood will not play, and Scott Boland will take his place.

    This Test match at the Adelaide Oval promises to be thrilling, with a chance to level the series and gain points in the World Test Championship.

    Where to Watch:
    – Live Telecast: Available on Star Sports Network.
    – Live Streaming: Available on Niftysta.

  • India’s Bond Yields Drop: Is RBI Poised for Rate Cuts?

    India’s Bond Yields Drop: Is RBI Poised for Rate Cuts?

    Indian 10-year bond yields dropped by 10 basis points after disappointing GDP growth data was released last week. This suggests that investors believe the Reserve Bank of India (RBI) might take steps to help the economy in its upcoming meeting on Friday. Recently, the GDP growth in India slowed down to just 5.4% for the July-September period, a level not seen in seven quarters.

    Analysts think the RBI might lower the cash reserve ratio (CRR), which is currently set at 4.5%. This could potentially free up around Rs 1.1 trillion in the banking system. A reduction in CRR could encourage more investment in bonds and help stimulate economic activity. The gap between the 10-year bond yield and the RBI’s main interest rate has shrunk significantly, signaling that the bond market is expecting potential easing from the RBI.

    Other indicators, like overnight index swaps (OIS) rates, have also decreased by 20 basis points since the weak GDP data came out. The RBI has maintained its policy rates at 6.5% since February 2023. While the central bank has previously been wary of inflation—particularly due to rising food prices—it has shown optimism about future growth thanks to good monsoon seasons and hopes for increased investments.

    According to Suresh Darak, a financial expert, the latest economic data poses a dilemma for the RBI, balancing the need to support economic growth with the ongoing inflation challenges. He mentioned that it will be interesting to see how the RBI navigates this situation in its upcoming decision.

    Interestingly, Nomura, a Japanese investment bank, expects the RBI to implement a full 1% rate cut starting this Friday. This contrasts with most predictions, which suggest the RBI will only cut rates by half of that amount. Nomura believes that even though food prices are rising, other price pressures remain calm, allowing the RBI to focus more on boosting growth.

    The benchmark 10-year bond yield has dropped to a three-year low, and the gap with the repo rate has narrowed significantly, indicating that some form of easing might be on the horizon. Right now, the 10-year bond is priced at Rs 100.7350, with a yield of 6.6837%.