Tag: losses

Delhi businesses suffer Rs 200 crore losses due to floods

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New Delhi: An estimated Rs 200 crore worth of business has been affected due to rains and flooding in parts of the national capital, a traders’ body said on Thursday.

While appealing to traders to suspend movement of goods from other cities for next few days in view of the rising water level of the Yamuna river, the Chamber of Trade and Industry said that the markets of Old Delhi, Kashmiri Gate, Mori Gate, Monestry Market, Chandni Chowk, Jama Masjid, Bhagirath Place, Lajpat Rai Market, Kinari Bazar , Fatehpuri, Khari Baoli, Naya Bazar have been affected.
“We appeal to the traders and market associations of old Delhi to halt movement of goods from outside in the next few days,” Chamber of Trade and Industry (CTI) chairman Brijesh Goyal said.

New Delhi: National Disaster Response Force (NDRF) personnel rescue residents from the flood-affected Old Usmanpur village, in New Delhi, Thursday, July 13, 2023. The Yamuna water level touched 208.53 metres on Thursday morning, breaking a 45-year-old record, according to officials. (PTI Photo/Manvender Vashist Lav)
New Delhi: NDRF personnel resuce a livestock at flood-hit at Nigam Bodh Ghat as the swollen Yamuna river floods low-lying areas, in New Delhi, Thursday, July 13, 2023. The torrential Yamuna in Delhi swelled to a staggering 208.48 metres Thursday morning, inundating nearby streets and public and private infrastructure, and causing immense hardships to people living in close proximity to the river. (PTI Photo)
Kashmiri Gate Market President Vinay Narang said that there is a possibility of a loss of more than Rs 50 crore due to 3-4 days of rain, whereas CTI estimated that a business of about Rs 200 crores have been affected due to rains.
“The rising water level in Yamuna is affecting Delhi markets badly. Business has almost come to a standstill. Traders are waiting for the situation to return to normal. The customers coming from nearby cities have also postponed the plan. Railways stopped the movement of trains on the old iron bridge, many train routes have been changed, while some have also been cancelled. Even more traders and buyers are not coming to Delhi,” Goyal said.
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( With inputs from www.siasat.com )

July 13, 2023
ChatGPT maker OpenAI’s losses swell to $540 mn, likely to keep rising

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San Francisco: The losses of Microsoft-backed OpenAI, the developer behind highly-successful AI chatbot ChatGPT, reportedly swelled to nearly $540 million last year and are likely to only keep rising.
According to The Information, OpenAI’s losses doubled as it developed ChatGPT and hired key employees from Google.
“The previously unreported figure reflects the steep costs of training its machine-learning models during the period before it started selling access to the chatbot,” the report noted.

OpenAI in February this year launched the new subscription plan, ChatGPT Plus, that is available for $20 a month.
However, the report mentioned that even if the revenue picks up, OpenAI’s losses are likely to keep rising as “more customers use its artificial intelligence technology and the company trains future versions of the software”.
OpenAI CEO Sam Altman has “privately suggested OpenAI may try to raise as much as $100 billion in the coming years to achieve its aim of developing artificial general intelligence (AGI) that is advanced enough to improve its own capabilities”.
Elon Musk, Twitter CEO and an early investor in OpenAI, tweeted late on Saturday: “That’s what he (Altman) told me”.
Musk, who has criticised OpenAI several times, last month created a new company called X.AI which will promote AI in the ChatGPT era.

It was Musk who initially invested $100 million in OpenAI, but later exited the company.
In recent months, ChatGPT and GPT-4 have become a rage worldwide.
OpenAI recently closed a more than $300 million share sale at a valuation between $27-$29 billion, according to reports.
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#ChatGPT #maker #OpenAIs #losses #swell #rising
( With inputs from www.siasat.com )

May 8, 2023
DC Kupwara Directs Respective Tehsildars, Officials to Record Losses Due to Heavy Rainfall, Hailstorm

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Kupwara, May 8 (GNS): In view of inclement weather and intermittent heavy rains and hailstorm in Kupwara district, Deputy Commissioner, Kupwara, Dr.Doifode Sagar Dattatray has directed all Tehsildars, Revenue Officials and Field functionaries to visit their respective areas, jurisdictions and record/ assess the losses occurred to Agriculture Horticulture fields and other properties.
The DC further directed the respective offices to furnish the report immediately for further process.
The officers and officials concerned were in the meantime directed to remain punctual at their respective postings. (GNS)
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#Kupwara #Directs #Respective #Tehsildars #Officials #Record #Losses #Due #Heavy #Rainfall #Hailstorm
( With inputs from : thegnskashmir.com )

May 8, 2023
Mutton dealers suffer huge losses after livestock trucks stopped for over 48 hours on Srinagar-Jammu highway

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Srinagar, May 3: Mutton dealers from Kashmir Valley suffered huge losses after traffic police stopped trucks carrying livestock towards Valley on the Srinagar-Jammu highway for more than 48 hours.
All Kashmir Wholesale Mutton Dealers Association said that stopping trucks carrying livestock was ‘unwarranted’ and they are shocked over the callous attitude of the traffic police for not responding to their distress calls.
“We called SSP Traffic National Highway. There was no response, even the SSP Traffic didn’t bother to respond to our text messages,” All Kashmir Wholesale Mutton Dealers Association told the news agency Kashmir News Trust adding that the control room officials also didn’t listen to them.
The Association said that at least 48 trucks laden with livestock were stopped near Udhampur on Dhor Road. “Despite repeated requests, drivers were not allowed to move ahead.”
The Association added that every truck suffered a mortality loss of 2 to 3 sheep. “The estimated loss due to ‘unnecessary’ stoppage of trucks is over Rs 25 lakh. After forcing to stop for over 48 hours, these trucks were allowed to move towards Valley at 5 PM on Tuesday.”
Notably, the Chief Secretary of Jammu and Kashmir Mr Arun Kumar Mehta had recently directed authorities to ensure hassle-free movement of trucks on the national highway. He had asked authorities not to stop any truck on the highway.
“I was supposed to supply meat to several parties but failed to do so, as the supply didn’t reach in time,” said Mehrajuddin Ganaie, one of the members of All Kashmir Wholesale Mutton Dealers Association.
He said mutton dealers have been continuously facing huge losses as this business has become a source of losses instead of profit due to the callous attitude of the authorities.

SSP Traffic didn’t respond to the phone call, however, one of the traffic officials said that trucks were halted due to one-way traffic near the Nashri area as it is prone to landslides. “If we allow two-way traffic near Nashiri, there will be a traffic jam and it may pose a risk to lives,” he said. [KNT]
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( With inputs from : roshankashmir.net )

May 3, 2023
Sensex opens with losses; investors wait for RBI’s rate hike decision

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Mumbai: Domestic key indices of equity markets made marginal losses during the early trading hours on Thursday.
Investors were in wait-and-watch mode as the outcome of the Reserve Bank of India’s three-day deliberations will be announced by the central bank’s governor in the morning. Global cues seemed weak as central banks across the world remained cautious about the bank crisis.
BSE’s 50-share Sensex lost 86 points to 59,603.20 while NSE’s Nifty dipped 25 points to 17,532.15 during the morning trade on Thursday.

In Asian markets, Hong Kong’s Hang Seng index was down 0.48 per cent, Japan’s Nikkei declined 1.07 per cent, China’s Shanghai dropped 0.28 per cent and S&P ASX dipped 0.26 per cent on Thursday’s morning.
In American markets, Nasdaq 100 dropped 1.01 per cent, S&P declined 0.25 per cent and Dow Jones gained 0.24 per cent.
In European markets, Deutsche Borse dipped 0.53 per cent, FTSE 100 gained 0.37 per cent, and Amsterdam Exchange was trading in the positive territory, as Asian markets opened on Thursday morning.
The Reserve Bank of India (RBI) started its monetary policy meeting on April 3, 2023. The outcome of the meeting will be announced today at 10 am by Governor Shaktikanta Das. All stakeholders and investors would be watching the outcome keenly which might influence how they buy or sell their stocks in these few days. The RBI’s monetary policy committee (MPC) is widely expected to hike the repo rate by 25 basis points (bps) in order to combat rising inflation.
On Wednesday, key equity benchmarks extended their rising streak for a fourth straight session. Sensex jumped 582.87 points or 0.99 per cent to 59,689.31. The Nifty of NSE rose 159 points or 0.91 per cent to 17,557.05. Both the indices have climbed 3.6 per cent in four sessions.

In the broader market, the S&P BSE Mid-Cap index added 0.11 per cent while the S&P BSE Small-Cap index gained 0.95 per cent.
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#Sensex #opens #losses #investors #wait #RBIs #rate #hike #decision
( With inputs from www.siasat.com )

April 6, 2023
Take our help: Telangana debt relief commission to farmers who faced losses

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Hyderabad: Telangana Farmers Debt Relief Commission Nagurla Venkateshwarlu reached out to debt-ridden farmers and agricultural workers who are at loss to approach the commission for help if required.
In a press release on Wednesday, Venkateshwarlu said, “Agricultural laborers, rural artisans, and small farmers with land below 5 acres, who have taken loans from private mediums and banks for agriculture and could not pay them back due to losses are requested not to be disheartened and kindly reach out to the commission.”
Highlighting the various agricultural-related welfare schemes introduced by the Bharat Rashtra Samithi-led state government, Venkateshwarlu encouraged those to reap benefits from the programs.
“Chief minister K Chandrashekhar Rao has implemented 24-hour electricity supply, farmer debt relief, Rythu Bandhu, Rythu Bima, and various projects for the betterment of Telangana farmers,” said Venkateshwarlu.
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( With inputs from www.siasat.com )

March 1, 2023
Meta to pay more for Mark Zuckerberg’s personal security amid job losses

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Meta, the parent company of Facebook, has said in a filing that it is increasing its spend on the personal security of chief executive and co-founder Mark Zuckerberg by $4m (£3.3m) to $14m, at a moment when the company has cut thousands of jobs in what Zuckerberg has called the “year of efficiency”.
Meta’s board declared that the 40% increase was “appropriate and necessary under the circumstances” and was in place “to address safety concerns due to specific threats to his safety arising directly as a result of his position as Meta’s founder, chairman, and CEO”.
Zuckerberg is allowed to use the money to pay for “additional personnel, equipment, services, residential improvement” and other safety-related needs.
His personal security costs were last reviewed in 2018 when he received $10m from the company, according to the filing.
The tech mogul’s salary is just $1 a year – but his earnings are far more. Zuckerberg ranks as the 16th richest person in the world on the Forbes billionaire list due to his shareholdings in Meta. In 2021 he received compensation from the company worth $27m.
The rise in security spending for its CEO comes at a difficult time for Meta. It delayed the finalising of budgets to prepare a fresh round of job cuts, according to the Financial Times. The company dismissed 11,000 employees, the equivalent of 13% of its workforce, in November.
On a call to analysts earlier this month, Zuckerberg said: “Next, we’re working on flattening our org structure and removing some layers in middle management to make decisions faster.”
He also mentioned that the company would be “more proactive about cutting projects that aren’t performing” – but ruled out any reduction in funding to the company’s virtual reality space the Metaverse, despite the division in charge of the project reducing the company’s overall operating profit by $13.72bn in 2022.

When announcing the job losses in November last year, Zuckerberg said falling ad revenue, increased competition and a wider economic downturn meant the company had to downsize.
In an email to staff, Zuckerberg said: “I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.”
Meta, once valued at $1 trillion, lost 70% of its value in 2022. In July, the company reported its first ever fall in revenue.
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#Meta #pay #Mark #Zuckerbergs #personal #security #job #losses
( With inputs from : www.theguardian.com )

February 17, 2023
J&K launches Rs 879 cr Food Processing Project to maximize farmer income, minimize post-harvest losses

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JAMMU, JANUARY 22 (GNS): The Jammu and Kashmir government has launched an ambitious project targetted to revolutionize the food-processing sector and transform the lives of farmers in the UT.
The “UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K” is a Rs 879.75 crore initiative that aims to maximize farmer income and minimize post-harvest losses.
This comprehensive project has been designed to increase the competitiveness of seven identified products across categories in terms of cost, quality, branding, and sustainability within five years. The government is investing in value-addition, logistics, marketing and branding of various Agriculture, Horticulture and livestock products to achieve this goal.
The project will focus on developing 17 districts in J&K with establishment of processing and marketing infrastructure, providing growth and development opportunities to stakeholders and facilitating suitable economies of scale in production and post-harvest activities. The government has allocated a budget of Rs 879.75 crore for the project including a grant-in-aid of Rs 293.25 crore (33.33%) and a debt-equity of Rs 586.50 crore to be raised by entrepreneurs. The project shall create 7030 direct jobs and lead to establishment of 34 enterprises with expected revenue generation to the tune of Rs. 1436.04 crore every year.
“UT Level Food Processing Programme for Development of Clusters for Specific Products of J&K” is one among the 29 projects, which were approved by the Jammu and Kashmir administration after being recommended by the UT Level Apex Committee for holistic development of Agriculture and allied sectors in UT of J&K. The committee is headed by Dr Mangala Rai, Former DG ICAR and has other luminaries in the field of Agriculture, Planning, Statistics and Administration like Ashok Dalwai, CEO NRAA, Dr. P. K Joshi, Secretary, NAAS, Dr. Prabhat Kumar, Horticulture Commissioner MOA & FW, Dr. H. S Gupta, Former Director, IARI, Additional Chief Secretary, Agriculture Production Department Atal Dulloo besides Vice Chancellors of twin Agriculture Universities of the UT.
The programme will focus on seven products in 17 districts/clusters including Milk for Jammu and Pulwama, Walnut for Kupwara and Kishtwar, Basmati for RS Pura, Samba and Kathua, Vegetables (Conventional/Organic/Exotic & Mushrooms) for Doda, Budgam, Samba and Udhampur, Meat and Poultry for Srinagar and Kathua, Trout for Anantnag and Ganderbal besides Cherry for Ganderbal and Baramulla.
“This project represents a beacon of hope for farmers in J&K, who have been facing challenges such as post-harvest losses that are generally in the range of 15-20 per cent and the wastage of 20 per cent of the total fruit produced due to non-availability of packaging and processing facilities and mismatch between production and post-harvest management.” said Additional Chief Secretary, Agriculture Production Department Atal Dulloo. “The government’s investment in this project is expected to address these issues and help farmers to better price realization and enhancing their income by creating competitiveness across the entire value chain.” he added.
In the next five years, Jammu and Kashmir will have a dynamic food processing, food packaging and storage infrastructure with dedicated support services including farm-level logistics and transportation, marketing infrastructure and cluster branding. This project is a step towards a brighter future for farmers and the food-processing sector in J&K.(GNS)

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( With inputs from : thegnskashmir.com )

January 22, 2023
Quick administrative action prevents financial and human losses in Doda’s Dhadkie village – The Chenab Times

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A fire broke out in the Dhadkie village in Sub-Division Gandoh (Bhalessa) of Doda district on Thursday. According to officials, dry grass and three to four buildings were damaged by the fire.
Acting swiftly, the subdivisional administration dispatched fire tenders to the spot and brought the fire under control quickly.
District Development Commissioner Doda Vishesh Paul Mahajan applauded and appreciated the actions of the subdivisional administration, particularly SDM Arun Kumar Badyal, who moved fast to preserve lives and property in Dhadkie village, according to an official statement released on Thursday evening.
The locals of Dhadkie also expressed their gratitude to the sub-divisional administration, saying that if they had not acted quickly, a terrible catastrophe would have happened, causing a significant loss of life and property.
It is pertinent to mention here that Dhadkie is known as the “deafest and dumbest village in the world” due to the genetically-enhanced features of the villagers, as there is a group of people who are deaf and dumb by birth.

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November 25, 2022