Breaking News
‘Fixing the basics’: New Zealand PM hails free trade agreement with India — more jobs, higher incomes & exports

[ad_1]

‘Fixing the basics’: New Zealand PM hails free trade agreement with India — more jobs, higher incomes & exports

New Zealand’s PM Christopher Luxon, on Saturday, hailed the free trade agreement with India, saying that the deal fulfilled a key promise made by his government. “We said we’d secure a Free Trade Agreement with India in our first term, and we’ve delivered.” He further added that this “landmark deal means more jobs, higher incomes and more exports by opening the door to 1.4 billion Indian consumers.“Fixing the Basics. Building the Future,” he wrote on X. The two nations had concluded a long-awaited free trade agreement earlier this week, bringing closing negotiations that began in March this year and marking a significant milestone in bilateral ties.Under the agreement, tariffs will be eliminated or reduced on 95% of New Zealand’s exports to India, one of the highest coverage levels achieved under any Indian free trade agreement. Of this, 57% of exports will be duty-free from day one, rising to 82% once the agreement is fully implemented, with the remaining 13% subject to significant tariff reductions.The India–New Zealand Free Trade Agreement was announced on Monday after a telephone conversation between PM Modi and Luxon, during which both leaders described the pact as historic, ambitious and mutually beneficial. They said the agreement would act as a catalyst for deeper trade, investment, innovation and shared opportunities between the two countries.The leaders also welcomed progress across other areas of cooperation, including defence, sports, education and people-to-people ties, and agreed to remain in touch as the partnership enters a new phase following the signing of the agreement.Negotiations for the FTA were initiated during Luxon’s visit to India, with both sides noting that the successful conclusion of talks within a record nine months reflected strong political will and a shared ambition to further strengthen bilateral relations.Hailing the deal, PM Modi said, “My friend PM Christopher Luxon and I had a very good conversation a short while ago following the conclusion of the landmark India-New Zealand Free Trade Agreement.”Both sides said that the agreement would strengthen economic engagement while laying the groundwork for closer collaboration across a range of sectors.

[ad_2]

Source link

Irdai fines Reliance General Insurance over ‘commission’

[ad_1]

Irdai fines Reliance General Insurance over ‘commission’

MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed entities under labels such as consumer awareness, marketing and advertising.

[ad_2]

Source link

Sensex slips for 3rd day in row, ends at 85,041 pts

[ad_1]

Sensex slips for 3rd day in row, ends at 85,041 pts

MUMBAI: Sensex dropped 367 points on Friday, marking its third consecutive day of losses, amid foreign fund outflows and a lack of major domestic triggers. In a low-volume trade, the 30-share index dropped 0.4% to settle at 85,041. The 50-share Nifty declined by 100 points to 26,042, registering its second day of decline. “Overall, Indian equity markets traded with a cautious, mildly negative bias as thin year-end volumes, the absence of strong global triggers, and continued foreign investor outflows kept sentiment restrained,” said Ponmudi R, CEO of Enrich Money.

[ad_2]

Source link

‘Creditors can’t alter approved resolution plan’

[ad_1]

'Creditors can't alter approved resolution plan'

NEW DELHI: The committee of creditors (CoC) cannot modify or alter a resolution plan for reallocation of funds of dissenting creditors, after it is approved, insolvency appellate tribunal NCLAT has said. Dismissing an appeal by Bank of Baroda in the Reliance Communications Infrastructure (RCIL) matter, NCLAT said the assenting members of the CoC cannot alter the financial layout once the bids have been approved.“It is true that the CoC with commercial wisdom can take a decision regarding different aspects of the plan, including manner of distribution, but once the commercial wisdom has been exercised by approving the resolution plan in meeting, the modification of the said distribution mechanism, which is impermissible, cannot be saved in the name of commercial wisdom of the CoC,” said NCLAT.The NCLT had approved the bid of Reliance Projects & Property Management Services (RPPMS), a Jio subsidiary. This resolution plan was approved by 68% vote share of the CoC on Aug 5, 2021. Bank of Baroda was one of the members of the CoC who approved RPPMS’s plan. However, IDBI Bank, SBI, and some other financial institutions dissented.

[ad_2]

Source link

Concert attack in Bangladesh: James show cancelled after bricks hurled; 15–20 students injured

[ad_1]

Concert attack in Bangladesh: James show cancelled after bricks hurled; 15–20 students injured

A concert of Bangladeshi rock musician James was called off after what the organisers described as an “attack from the outsiders.” As per BDnews24, the event scheduled at the Faridpur District School turned violent when a group of people tried to force their way into the venue after being denied entry and began hurling bricks and stones at the stage.According to local media reports, at least 25 people were injured, including 15 to 20 students.The musical act was scheduled for 9pm as the closing event for the 185th anniversary of the school. The organisers recount that moments before the performance was set to begin, a group tried to force their way inside the venue. The “attackers” then began hurling bricks and stones at the stage, who were then made to retreat after the students resisted the attack, the DailyStar reported.Later, by 10pm, organising committee convenor Mustafizur Rahman Shamim announced the cancellation of the singer’s performance, as per the instructions of the Faridpur deputy commissioner. “We had completed all preparations to make James’ concert a success. But we do not understand why, for what reason, or who carried out the attack,” said Rajibul Hasan Khan, head of the anniversary publicity and media subcommittee. He also stated that at least 15 to 20 students got injured due to the chaos.James, popularly known as Nagar Baul, is an iconic Bangladeshi musician. Born Faruq Mahfuz Anam, he is also known for lending his voice to the popular Bollywood hit “Bheegi Bheegi” from the film Gangster.

[ad_2]

Source link

‘He doesn’t have anything until I approve it’: Donald Trump casts himself as final arbiter of Ukraine peace deal; sceptical of Zelenskyy’s plan

[ad_1]

‘He doesn’t have anything until I approve it’: Donald Trump casts himself as final arbiter of Ukraine peace deal; sceptical of Zelenskyy's plan
File photo: US President Donald Trump (Picture credit: AP)

US President Donald Trump has said any peace deal to end the war between Ukraine and Russia will ultimately depend on his approval, casting himself as the final decision-maker ahead of talks with Ukrainian President Volodymyr Zelenskyy in Florida.Speaking in an exclusive interview with Politico on Friday, Trump appeared unenthusiastic about Zelenskyy’s latest peace proposal, a revised 20-point framework that the Ukrainian leader is expected to present during their meeting on Sunday. The plan includes ideas such as a demilitarised zone and requests for US security guarantees.“He doesn’t have anything until I approve it,” Trump said, referring to Zelenskyy’s proposal. “So we’ll see what he’s got.”Zelenskyy has said the meeting will focus on key unresolved issues, including security guarantees, control of the Russian-occupied Zaporizhzhia nuclear power plant and territorial questions surrounding the Donbas region in eastern Ukraine. According to the New York Times, Zelenskyy has described the agenda as broad and said “a lot can be decided before the New Year”.Trump’s remarks underline how dependent Kyiv’s future strategy has become on convincing the US president that Ukraine is prepared to compromise. While Washington has pushed Zelenskyy to soften some of his earlier demands, Russia has largely held to its hardline position and has not publicly responded to the latest proposal, reported Politico.Despite his scepticism, Trump said he expected the talks to be constructive. “I think it’s going to go good with him. I think it’s going to go good with [Vladimir] Putin,” he said, adding that he hopes to speak with the Russian president “soon”.The comments came a day after Zelenskyy held discussions with Trump’s special envoy Steve Witkoff and the president’s son-in-law Jared Kushner, which the Ukrainian leader later described as a “good conversation”. As per the New York Times, Zelenskyy said those talks produced “good ideas” and new thinking on formats and timelines for pushing diplomacy forward.Zelenskyy’s proposal includes the creation of a demilitarised zone in parts of Donbas still under Ukrainian control, but only if Russia withdraws its forces from a corresponding area in Donetsk. Moscow has shown no sign of accepting anything short of full control of the region, highlighting the wide gap between the two sides.Trump also said Russia was under economic pressure. “Their economy is in tough shape, very tough shape,” he told Politico.During the interview, Trump confirmed that Israeli Prime Minister Benjamin Netanyahu would also visit him this weekend. “I have Zelenskyy and I have Bibi coming. They’re all coming,” he said. “They respect our country again.” According to an NBC report cited by Politico, Netanyahu is expected to brief Trump on the growing threat from Iran.Trump’s remarks followed US airstrikes against ISIS targets in Nigeria, which he said were delayed by a day for symbolic reasons. “I said, ‘nope, let’s give a Christmas present,’” he told Politico, claiming the strikes had heavily damaged militant camps.As diplomacy continues, Zelenskyy has said Ukraine is ready to show flexibility but warned that if Russia refuses to engage seriously, stronger pressure from the West would be needed to bring the war closer to an end, reported the New York Times.

[ad_2]

Source link

UP: Hauled up for using AI during exam, girl dies by suicide; father accuses school of abetment | India News

[ad_1]

UP: Hauled up for using AI during exam, girl dies by suicide; father accuses school of abetment

NOIDA: A Class 10 student died by suicide early on Dec 23, allegedly hours after she was pulled up by her teachers and principal at a private Greater Noida West school for using AI on her mobile phone to write her pre-Board exam papers. The girl’s father submitted a police complaint on Thursday seeking an FIR against the school management, the principal and two teachers, accusing them of abetment to suicide and mental harassment. While police are examining allegations before registering an FIR, the principal told TOI that the student, though reprimanded, was not harassed and told that cheating in the board exam could earn her a five-year suspension from writing the test.According to the minor’s father, the 16-year-old allegedly jumped from her eight-floor flat early on Dec 23. He alleged that his daughter was deeply distressed after she was scolded and humiliated by teachers for bringing her phone to the exam hall on Dec 22.In his complaint, the father said he has three daughters, all of whom study at the same school. He alleged that his eldest daughter had “unknowingly” carried her mobile phone to school on the day of the exam. She was caught by the invigilator, who reprimanded her and informed her class teacher. The student was then taken to the principal.The principal called the girl’s parents to the school, and her father arrived shortly afterwards. He alleged that even in his presence, the teachers and principal continued to scold and insult the student aggressively. He also claimed that he was called “careless” by the teachers.The father claimed his daughter was shaken by the incident and that the harsh words used by her teachers had a severe psychological impact. He named the child’s class teacher, Poonam Dubey, another teacher, Taapas, and the school management in his complaint, accusing them of pushing his daughter towards taking an extreme step.He has urged police to register a case under BNS Section 108 (abetment of suicide), and other relevant provisions. He claimed the incident had left his other two daughters traumatised and fearful of returning to the school.The school has strongly denied the allegations. The principal told TOI over the phone that the student was not harassed and that the school followed standard protocol prescribed by the Central Board of Secondary Education. “The girl was found with a mobile phone during the pre-board examinations. When the invigilator checked the device, it appeared that she had been using AI to get answers. The phone was confiscated, and she was brought to the examination head, who then brought her to me,” the principal said.She said she had informed the student that using such methods during the CBSE board examinations could lead to a ban of up to five years from appearing in the exams. “That is the rule, and the child was only told about the consequences,” she said. According to the principal, the student’s parents were informed immediately and reached the school within 10 to 15 minutes, as they lived nearby. She said the interaction took place at the reception area and was brief.

[ad_2]

Source link

Indigo crisis: ‘Exemplary’ action on airline likely as DGCA tables report

[ad_1]

Indigo crisis: ‘Exemplary’ action on airline likely as DGCA tables report
IndiGo crisis (Picture credit: PTI)

NEW DELHI: The stage is now set for “exemplary” government action against IndiGo — a likely combination of steep fines along with regulatory glare on some airline officials, among other things — for its schedule collapse earlier his month that affected over 5,000 flights and left lakhs of passengers stranded.DGCA on Friday evening submitted its report on the “circumstances leading to operational disruptions” to the civil aviation ministry, which is also expected to shed light on why only the airline’s domestic network collapsed while international flights were barely affected.Aviation minister Ram Mohan Naidu had said in Parliament that the government would take “exemplary” action against IndiGo once the probe was over. “An inquiry committee, headed by (DGCA’s) joint DG Sanjay K Bramhane, submitted its report Friday evening. The report is confidential,” said a ministry spokesperson.It is learned that the accountable manager of the airline, an expat, could have his approval withdrawn. While a number of factors led to the schedule collapse at India’s largest domestic airline, the failure of its operations control centre and a breakdown of trust between pilots and expat-led management added fuel to the fire.Govt wants IndiGo to set its house in order, given the critical role the airline plays with over 64% domestic market share and also being the largest airline in terms of international traffic. In banking parlance, IndiGo and Air India Group are now “too big to fail” as all other players in the domestic market are either fledgling or struggling to survive. IndiGo had cancelled only 2.4% of its 2,702 international flights between Dec 1 and 9. Domestic cancellations were 10 times higher at almost 25% of the 17,404 scheduled flights not being operated.IndiGo is also probing this collapse but government action is going to be decided on the basis of the DGCA report. The regulator’s probe panel under joint DG Bramhane was set up on December 5, to “identify underlying causes leading to widespread operational disruptions.” It was also to “assess adequacy of manpower planning, fluctuating rostering systems, and implementation preparedness in the context of (new flight duty norms for pilots).

[ad_2]

Source link

Pradhan Mantri Rashtriya Bal Puraskar: From Sindoor to sports – stories of valour in the spotlight | India News

[ad_1]

Pradhan Mantri Rashtriya Bal Puraskar: From Sindoor to sports - stories of valour in the spotlight
PM Modi interacted with the awardees and lauded their achievements (Picture credit: PTI)

NEW DELHI: From 11-year-old Shavan Singh’s heartwarming story of social service during Operation Sindoor – regularly delivering water, milk and lassi to Indian soldiers stationed near his home along the Punjab border – to seven-year-old chess prodigy from Gujarat, Vaka Lakshmi Pragnika, the stories of the 20 recipients of Pradhan Mantri Rashtriya Bal Puraskar reflect resilience, courage and achievement.On Veer Bal Diwas, President Droupadi Murmu Friday, conferred the awards on children from 18 states for exceptional achievements in bravery, social service, environment, sports, art and culture, and science and technology, at an event organised by women and child development ministry.Later, PM Modi interacted with the awardees ahead of addressing a programme at Bharat Mandapam and lauded their achievements.Speaking to TOI, Shavan Singh, a Class IV student from Chak Taran Wali village in Punjab’s Ferozepur, said that when drones began flying over his house, he thought of the soldiers stationed on the frontline and asked his parents if he could take essential items for them. Asked if he felt scared, Shavan replied “bilkul nahin” (not at all), adding that he wants to join the Army.Another inspiring awardee is Vansh Tayal from Chandigarh, recognised in the social service category. Orphaned during the Covid pandemic in 2021, Vansh lives in a child care institution. Despite his own emotional challenges, he volunteered to care for a six-year-old abandoned child with disabilities and contributed to the child’s rehabilitation. Now in Class 12, Vansh said he aspires to become a psychologist.Lauding the children, President Murmu said it is because of talented youngsters like Pragnika that India is considered a chess powerhouse. She also referred to acts of bravery among the awardees. Ajay Raj (9) from Agra saved his father during a crocodile attack, while Mohammed Sidan P (11) from Palakkad in Kerala rescued two friends from electrocution.Vyoma Priya (9) from Coimbatore and Kamlesh Kumar (11) from Kaimur lost their lives while saving others.The President also praised differently-abled sportsperson Shivani Hosuru Uppara for overcoming several economic and physical limitations, and Vaibhav Suryavanshi from Samastipur for making a mark in cricket.

[ad_2]

Source link