Tag: declines

  • Israeli shekel’s value declines to lowest record against USD in 3 yrs

    Israeli shekel’s value declines to lowest record against USD in 3 yrs

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    Jerusalem: The value of Israel’s currency shekel has fell to its lowest record against the US dollar in nearly three years, according to exchange rates issued by Israel’s central bank.

    The shekel’s exchange rate against the dollar was set at 3.649 shekels per dollar, compared to the rate of 3.658 recorded on March 24, 2020.

    On January 25, 2023, the exchange rate was set at 3.37 shekels per dollar. Since then, the shekel has been devalued by 7.6 per cent in less than a month, Xinhua news agency reported.

    “The shekel’s devaluation is probably related to the approval of the first part of the juridical reform in the Israeli parliament on Monday night,” Sonia Gorodeisky, chief financial editor at Israel Hayom daily newspaper, told Xinhua.

    “The reform and the political uncertainty surrounding it cloud the general sentiment in the market which prefers certainty and broad consensus,” she added.

    Another reason for the strengthening of the dollar is the expectation of continued interest rate hikes in the US to levels of 5.25 to 5.5 per cent, said Gorodeisky.

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    ( With inputs from www.siasat.com )

  • ‘Sorry, it can’t be done’, SC declines to modify order on Google’s plea

    ‘Sorry, it can’t be done’, SC declines to modify order on Google’s plea

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    New Delhi: The Supreme Court on Friday refused to entertain a plea by Google seeking modification of the court’s January 19 order, and asked the tech giant to raise its objections before the National Company Law Appellate Tribunal (NCLAT).

    In January, the apex court had declined to entertain a plea by Google challenging an NCLAT order, which refused to stay operation of the Competition Commission of India (CCI) order imposing Rs 1,337.76 crore fine on the tech giant.

    During the hearing on Friday, a bench headed by Chief Justice of India, D.Y. Chandrachud, made it clear to senior advocate Maninder Singh, representing Google, that no clarification is required in this matter.

    Singh pressed that there is a need to add or clarify the January order.

    The bench, also comprising justices P.S. Narasimha and J.B. Pardiwala, said the court would not make any changes and he can “go and argue everything before the National Company Law Appellate Tribunal”.

    The counsel for the Competition Commission of India (CCI) also opposed any changes to the order, saying there must be no interference with its operative part. The bench said the order was dictated in an open court and there was no point in modifying it.

    The bench told Singh, “Sorry, it can’t be done. We will not do it.”

    The CCI counsel said the appeal of Google LLC is listed for hearing next week before the NCLAT and they can raise these issues before it.

    In its January 19 order, the top court had granted a week’s time to Google to deposit 10 per cent of Rs 1,337 crore penalty imposed on it by the CCI.

    The top court had said that the findings of the CCI cannot be regarded as contrary to the weight of the record, at the interlocutory stage.

    In the January 19 order, the top court had added that at the present stage, since the appeal is pending before NCLAT, “we are desisting from entering a finding on the merits of the rival submissions which have been urged on behalf of the contesting parties”.

    “Any expression of opinion of this court on the merits would affect the proceedings which are pending before the NCLAT. It would suffice to note that the findings which have been arrived at by the CCI cannot be held at the interlocutory stage to be either without jurisdiction or suffering from a manifest error which would have necessitated interference in appeal,” the top court said in its order.

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    ( With inputs from www.siasat.com )

  • Allahabad HC declines to order killing of birds, dogs

    Allahabad HC declines to order killing of birds, dogs

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    Lucknow: The Lucknow bench of the Allahabad High Court has declined to issue directions to Lucknow Municipal Corporation (LMC) to kill birds and animals that have become nuisance in the state capital.

    Dismissing the plea, the bench held: “Such a direction cannot be issued by the Court as there is no provision which obliges the LMC to kill innocent animals.”

    The bench of Justices Ramesh Sinha and Subhash Vidyarthi passed the order on a PIL moved by a local lawyer Manoj Dubey.

    Arguing for the petitioner, senior advocate Sudeep Seth had sought issuance of a direction for LMC to discharge the duty of eliminating birds, animals, strays and ownerless dogs causing nuisance in Lucknow.

    The bench declined to issue any such direction.

    Welcoming the verdict, animal rights activist Kamna Pandey said: “It is a landmark verdict. It is significant and cuts through the current motivated campaign against dogs seeking to create an atmosphere of hate and hostility towards man’s best friend. It restores balance and returns good sense to the prevailing debate.”

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    ( With inputs from www.siasat.com )

  • Teenage pregnancy in Philippines declines in past 5 yrs

    Teenage pregnancy in Philippines declines in past 5 yrs

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    Manila: Teenage pregnancy among girls aged 15 to 19 in the Philippines declined to 5.4 percent in 2022 from 8.6 percent in 2017, according to official data.

    The data from the Philippine Statistics Authority (PSA) showed that teenage pregnancy was lower in urban areas at 4.8 percent than in rural areas at 6.1 percent, reports Xinhua news agency.

    The 19-year-olds had the highest pregnancy percentage.

    In terms of educational attainment, teenage pregnancy was most common among those with primary education, standing at 19.1 percent.

    The percentage of teenage pregnancy decreases as educational attainment increases.

    The Philippines has been grappling with teenage pregnancy over the past decade, which is a “national social emergency”.

    Some officials had warned that adolescent birth rates had hovered at a level that merited “national concern”.

    According to official data, teenage pregnancy has a mortality rate two to five times higher than adults.

    The neonatal death rate of babies born to young mothers are three times higher than that of babies born to mothers aged 25 to 29.

    Meanwhile, this social problem could also trap a large cross-section of families in perpetual cycle of intergenerational poverty, officials warned.

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    ( With inputs from www.siasat.com )