March | 2022 | CHINDIA ALERT: You'll be living in their world, very soon

23/03/2022

Tripura: Survey completed for second Indo-Bangladesh railway line

Apart from that, construction works for Nischintapur Railway Yard which will connect Tripura with Akhaura in Bangladesh are on the verge of completion.

ANI | Agartala | March 23, 2022 9:20 am

Tripura, Indo-Bangla railway link

(File Photo)

Surveys for several railway projects in Tripura including the second Indo-Bangla railway link through the Belonia sub-division of the South Tripura district have been completed by the officials.

Tripura Transport Minister Pranajit Singha Roy informed the State Assembly that Union Railway Minister Ashwini Vaishnaw is expected to visit the state on March 25 to inspect the ongoing projects.

Some new projects may also be launched by the minister during his visit to the North-East state. Roy was addressing the house on Calling Attention motion moved by treasury bench Chief Whip MLA Kalyani Roy on ”The need to further improve the overall management of passenger and freight traffic, including increasing the number of passenger trains through the introduction of double lane rail services in the state of Tripura”.

Replying to the query, the Transport Minister said that on June 4, 2020, the Tripura government sent a proposal to ‘North East Region Vision 2035’ to transform the existing single line tracks into double lines to enhance railway connection as well as improve the number of passenger and freight engines.

With regards to new projects in the pipeline, he said that survey works of three new railway projects that consist of 30 kilometres long Belonia (India) – Feni (Bangladesh), Dharmanagar (North district) – Pancharathal (North district), and Kailashahar (Unakoti district) Railway has been completed.

Another project is underway to link Dharmanagar in North Tripura with Belonia in the South district connecting Unakoti, Dhalai, Khowai, and certain parts of the West Tripura district.

“The survey work for these projects have been completed and Chief Minister Biplab Kumar Deb on January 21, 2022, made a special request to the Union Railway Minister to incorporate the following projects in the Railway Budget and provide necessary financial assistance”, the transport minister told the house.

Apart from that, construction works for Nischintapur Railway Yard which will connect Tripura with Akhaura in Bangladesh are on the verge of completion. “About 98 percent of the work is completed and 75 percent of work for Sabroom Railway Yard has also been complete”, he said.

According to the ministers, all these ambitious projects are expected to be completed by the next financial year.

“The construction of 12.30 kilometres long Agartala-Akhaura in Bangladesh railway link that aims to increase passenger and freight engine movement between these two locations will be completed shortly. The DoNER ministry and Ministry of External Affairs of the Central Government have been extending all sorts of help for speedy completion of the project.”

Source: The Statesman.

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23/03/2022

EXCLUSIVE Chinese regulators ask some U.S.-listed firms to prepare for audit disclosures – sources

Chinese and U.S. flags flutter near The Bund in Shanghai

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song

HONG KONG/BEIJING, March 23 (Reuters) – Chinese regulators have asked some of the country’s U.S.-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York.

Reporting by Yingzhi Yang, Julie Zhu, Xie Yu and Kevin Huang; Editng by Sumeet Chatterjee and Jacqueline Wong

Source: Reuters.

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22/03/2022

Petrol, diesel prices increased after over 4 months, LPG hiked by Rs 50

Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.

Statesman News Service | New Delhi | March 22, 2022 1:43 pm

petrol, diesel

(Photo: IStock)

Petrol and diesel prices were increased by 80 paise per litre today after a period of over four months.

Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.

The price of domestic cooking gas (LPG) was increased by Rs 50 per cylinder.

Petrol price in the national capital has gone up from Rs 95.41 to Rs 96.21 per litre while diesel in Delhi will now cost Rs 87.47 a litre.

Petrol and diesel prices per litre in Mumbai will cost Rs 110.82 and Rs 95.00 respectively.

In Kolkata, petrol and diesel will cost Rs 105.51 and Rs 90.62 per litre respectively while the prices in Chennai will be Rs 102.16 and Rs 92.19 respectively.

After November last year, this is the first fuel price hike.

A 14.2-kg LPG cylinder will now cost Rs 949.50 in Delhi from today. Domestic LPG rates were last revised on October 6 by Rs 15. Earlier on March 1, the prices of 19 kg commercial LPG cylinders was increased by Rs 105 in Delhi.

With this increase, 19 kg commercial cylinder costs Rs 2,012 in Delhi.

Till now, fuel prices have been steady since early November when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.

The OMCs revise the transportation fuel cost based on various factors such as rupee to US Dollar exchange rate, cost of crude oil and demand of fuel amongst others.

Resultantly, the final price includes excise duty, value added tax and dealer’s commission.

It was widely expected that the OMCs will revise the current prices due to high crude oil cost.

Lately, crude oil prices have been volatile surging by nearly 35-40 per cent on fear of tight supplies.

Furthermore, it is feared that current sanctions against Russia will curtail more global supplies and stifle growth.

In case of India, the crude oil price range is a cause of concern as it may ultimately add Rs 15-Rs 25 in petrol and diesel selling prices.

At present, India imports nearly 85 per cent of its crude oil requirements.

Source: The Statesman.

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18/03/2022

Ukraine war: Indian embassy, shifted to Poland, says it continues to function

Russia-Ukraine war: In its latest advisory, issued on Friday, the embassy also provided contact details for those who wish to reach out for assistance.

A member of the Ukrainian military surveys an area next to a residential building hit by an intercepted missile, as Russia's invasion of Ukraine continues, in Kyiv, Ukraine March 17, 2022. REUTERS/Thomas Peter — A member of the Ukrainian military surveys an area next to a residential building hit by an intercepted missile, as Russia’s invasion of Ukraine continues, in Kyiv, Ukraine March 17, 2022. REUTERS/Thomas Peter

Published on Mar 18, 2022 06:31 PM IST

Byhindustantimes.com, New Delhi

In its latest advisory, India’s embassy to Ukraine informed on Friday it continues to function, as it provided contact details for those who wish to reach out for assistance.

Click here for live updates on Russia-Ukraine war

“Dear Indians in Ukraine, Embassy of India continues to function and can be contacted through email: cons1.kyiv@mea.gov.inand the following 24*7 helpline numbers on WhatsApp for assistance: +380933559958, +919205209802 and +917428022564,” the embassy said in a statement on its Twitter handle.

Economic Watch: China sends clear-cut signals to bolster economic growth

A worker operates at a workshop of the Dongan Auto Engine Co., Ltd. in Harbin City of northeast China’s Heilongjiang Province, April 9, 2021. (Xinhua/Wang Jianwei)

BEIJING, March 17 (Xinhua) — Chinese policymakers have sent a clear signal to perk up the economy and stabilize the capital market amid a complex external environment and global uncertainties.

The shot in the arm came from a State Council meeting held Wednesday, which urged concrete actions to bolster the economy in the first quarter, noting that monetary policy should take the initiative to cope with the situation, and new loans should maintain an appropriate growth.

The meeting of the financial stability and development committee also made policy announcements on issues of market concern. These include the overall steady economic growth, the real estate sector, platform economy, Chinese shares listed overseas, and the operation of the capital market.

Several regulators moved Wednesday night on the heels of the meeting, pledging thorough implementation of the committee’s decisions.

In terms of fostering the real economy, the central bank stressed supporting micro, small- and medium-sized enterprises. The China Banking and Insurance Regulatory Commission pledged to work to meet the financing needs of market entities.

The State Administration of Foreign Exchange said it will improve foreign exchange services, especially for small- and medium-sized enterprises, and guide market players to make wider use of hedging tools for exchange rates and actively guard against and defuse the risks of external shocks.

To allay market worries in Chinese shares listed overseas, the China Securities Regulatory Commission said the country will promptly promote the implementation of new regulations on the supervision of overseas listing of enterprises, support all kinds of qualified enterprises to list overseas, and maintain smooth overseas listing channels.

Relevant departments reiterated that more measures will be coordinated to promote the steady and healthy development of the platform economy and improve its international competitiveness.

A circular, co-released by ten government organs, including the Ministry of Human Resources and Social Security and the Ministry of Education, said that no fewer than 1 million internship posts would be offered to job seekers this year to rev up the employment market.

Given that the economy faces rising pressure from imported inflation caused by price hikes in global commodities, a new wave of COVID infections in China, and growing external uncertainties from regional conflicts, analysts say the policy statement came at the right time to lift market expectations.

“The meeting sent a signal that the central government attaches great importance to steady and healthy economic development, indicating that steady growth remains the current policy priority,” said Zhou Maohua, an analyst with the China Everbright Bank.

As the committee has required, relevant authorities will likely actively introduce market-friendly policies and simultaneously prudently introduce policies with a contractionary effect. Meanwhile, issues that draw market attention will be timely responded to, analysts noted.

On Wednesday night, the Ministry of Finance said there are no suitable conditions this year to expand the country’s list of pilot cities for real estate tax reform.

The China Banking and Insurance Regulatory Commission also reaffirmed Wednesday the policy stance of upholding the principle of “housing is for living in, not for speculation.” The commission will encourage institutions to extend mergers and acquisitions loans and promote the transformation to a new development approach.

Due to its connection with various sectors, the healthy development of the real estate industry is vital to the smooth operation of the economy, said Wen Bin, chief analyst at China Minsheng Bank, in a co-authored article.

In the latest government work report, China set its economic growth target for 2022 at around 5.5 percent, pledging to keep macro policies consistent and enhance their effectiveness.

Economic indicators for the first two months of the year indicated a solid recovery, with the value-added industrial output and retail sales of consumer goods up 7.5 and 6.7 percent year on year, 3.2 and 5 percentage points higher, respectively, than in December last year.

Fixed-asset investment went up 12.2 percent year on year, while investment in property development rose 3.7 percent.

Recent policies have played a positive role in stabilizing and recovering the economy, Wen said, citing signs of improvement seen on both sides of supply and demand.

Against the backdrop of complicated environment, maintaining the stability and consistency of policy expectations is significant for market entities and investors, said Zhao Qingming, a specialist in international finance.

With coordinated fiscal and monetary policies in the works, Chen Li, a chief economist with Chuancai Securities, expected the industries of new infrastructure, new energy, and high-end manufacturing to further drive the economy and enhance its resilience.

Source: Xinhua.

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18/03/2022

Germany’s Baerbock warns supply shortfall from Ukraine war will be severe

Panel discussion on national security strategy at the Foreign Ministry in Berlin

German Foreign Minister Annalena Baerbock delivers a speech on national security strategy ahead of a panel discussion at the Foreign Ministry in Berlin, Germany, March 18, 2022. REUTERS/Annegret Hilse/Pool

BERLIN, March 18 (Reuters) – German Foreign Minister Annalena Baerbock warned that supply shortfalls due to the war in Ukraine will be severe and could lead to further conflicts in already vulnerable countries.

Reporting by Miranda Murray Editing by Paul Carrel

Source: Reuters.

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17/03/2022

Civilians trapped in theatre, Putin’s ‘scum’ warning: Russia-Ukraine round-up

Russia has laid siege to Mariupol over the past several days, encircling the city and launching wave after wave of attacks.

Updated on Mar 17, 2022 04:04 PM IST

The fate of hundreds of civilians trapped under rubble and concrete that was a theatre in Ukraine’s Mariupol – till it was destroyed in a Russian airstrike Wednesday – remains unknown, an officer in the city mayor’s office told Reuters. Ukraine officials earlier said thousands of people – reportedly some children as well – had fled to the theatre to seek shelter from Russian missile attacks on the beleaguered port city. Russia has denied targeting the building and blamed its destruction on a ‘nationalist battalion’ of the Ukraine military.

Pavlo Kyrylenko, head of the Donetsk administration, said rubble had buried the entrance to certain parts of the theatre and that an accurate count of the dead or injured is difficult at this time. A city official, however, told Reuters there is hope as the shelter had ‘withstood’ the strike.

Children inside

Satellite images – taken three days earlier – show the word ‘children’ in Russian on the pavement in front and behind the Mariupol theatre.

The fate of children trapped in the fighting – a situation flagged repeatedly by the United Nations and other humanitarian agencies – has increased after Ukraine said 79 have died and at least 100 have been injured so far.

Satellite image provided by Maxar Technologies. (Maxar Technologies via AP)(AP)

India’s gold output could rise multifold if hurdles removed – WGC

Customers check ornaments at a jewellery showroom during Dhanteras, in Mumbai

Customers check ornaments at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Mumbai, India November 2, 2021. REUTERS/Niharika Kulkarni

MUMBAI, March 17 (Reuters) – India’s annual gold production could surge to 20 tonnes from a mere 1.6 tonnes if the government removes bureaucratic hurdles and encourages investment in the sector, the World Gold Council (WGC) said in a report published on Thursday.

Reporting by Rajendra Jadhav; Editing by Subhranshu Sahu

Source: Reuters.

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17/03/2022

Indian shares end week 4% higher on financials boost, Fed hike

A woman walks past the Bombay Stock Exchange building in Mumbai

A woman walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, January 31, 2020. REUTERS/Francis Mascarenhas

BENGALURU, March 17 (Reuters) – Indian shares ended the holiday-shortened week about 4% higher on Thursday, underpinned by heavyweight financials, with risk sentiment bouyed by a rally in global markets after the U.S. Federal Reserve hiked benchmark rates.

The blue-chip NSE Nifty 50 index (.NSEI) closed 1.84% higher at 17,287.05, while the benchmark S&P BSE Sensex (.BSESN) climbed 1.84% to finish at 57,863.93. Both indexes scaled above the key 200-day moving average.Report ad

The Nifty and the Sensex posted weekly gains of 3.95% and 4.17%, respectively. The markets will be closed on Friday for a holiday.

European and broader Asian markets climbed, joining a rally in Wall Street, after the U.S. central bank increased rates by an expected quarter point while signalling equivalent hikes at every meeting for the rest of the year.

“The message from Powell and the FOMC forecasts is that the expected hikes will achieve disinflation without much slowing in growth or increase in unemployment,” said Madhavi Arora, lead economist at Emkay Global Financial Services.Report ad

Lower oil prices that allayed inflation fears, progress in Russia-Ukraine talks, and further easing of COVID-19 curbs amid an expanded vaccination drive for children also lifted investor appetite this week.

In Mumbai trading, the Nifty Financial Services Index (.NIFTYFIN) added 2.77%. Non-banking financial firm HDFC Ltd (HDFC.NS) climbed 5.4% to be the top percentage gainer in the Nifty 50.

Shares of Future Group firms fell between 7.6% and 14% due to regulatory woes of the group’s flagship company – Future Retail (FRTL.NS) – regarding its proposed sale of retail assets to Reliance Industries (RELI.NS). read moreReport ad

Nxtdigital (NXTD.NS) surged 8.1% after the media and communication company approved a merger with non-banking financial company Hinduja Leyland Finance on Wednesday.

Source: Reuters.

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16/03/2022

Ukraine war: Russia says sanctions, Ukraine’s neutral status under discussion

Ukraine-Russia war: Kremlin spokesperson Dmitry Peskov said Ukraine’s neutral state status could be comparable to Sweden and Austria. “This is an option that is being discussed now and that can be considered as a compromise,” he said.

Rescuers work atop an apartment building that was hit by shelling, as Russia's invasion on Ukraine continues, in Kyiv, Ukraine.(REUTERS) — Rescuers work atop an apartment building that was hit by shelling, as Russia’s invasion on Ukraine continues, in Kyiv, Ukraine.(REUTERS)

Published on Mar 16, 2022 04:25 PM IST

Byhindustantimes.com | Edited by Sohini Goswami

The Kremlin on Wednesday said the issue of sanctions on Russia by Western nations over its invasion of Ukraine was discussed during the last round of talks with representatives of its east-European nation.

Also, discussions were held regarding creating a “neutral status” of Ukraine with security guarantees, said Russian foreign minister Sergey Lavrov, while adding that a “business-like spirit” had emerged at the negotiation table.

Live updates on Ukraine-Russia war

“There are concrete formulations that in my view are close to being agreed,” he added While he did not elaborate on the same, Lavrov said the talks gave hope “hope that we can agree on this issue”.

Kremlin spokesperson Dmitry Peskov said Ukraine’s neutral state status could be comparable to Sweden and Austria. “This is an option that is being discussed now and that can be considered as a compromise,” he said.

The latest round of talks with Ukraine, which started on Monday, were set to continue on Wednesday. Russia’s chief negotiator said the two sides were discussing a possible compromise idea for a future Ukraine with a smaller, non-aligned military.

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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Archive for March, 2022

Tripura: Survey completed for second Indo-Bangladesh railway line

Apart from that, construction works for Nischintapur Railway Yard which will connect Tripura with Akhaura in Bangladesh are on the verge of completion.

EXCLUSIVE Chinese regulators ask some U.S.-listed firms to prepare for audit disclosures – sources

Petrol, diesel prices increased after over 4 months, LPG hiked by Rs 50

Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.

Ukraine war: Indian embassy, shifted to Poland, says it continues to function

Economic Watch: China sends clear-cut signals to bolster economic growth

Germany’s Baerbock warns supply shortfall from Ukraine war will be severe

Civilians trapped in theatre, Putin’s ‘scum’ warning: Russia-Ukraine round-up

India’s gold output could rise multifold if hurdles removed – WGC

Indian shares end week 4% higher on financials boost, Fed hike

Ukraine war: Russia says sanctions, Ukraine’s neutral status under discussion

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