Tag: raises

Dhaka explosion toll raises to 18, Bangladesh govt sets up probe

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Dhaka: Bangladesh’s Home Minister Asaduzzaman Khan said Wednesday that the country has sufficient expertise to carry out an investigation into the powerful explosion that ripped through a multi-storey building in a crowded area here, killing 18 people.
The “earthquake-like” explosion at the seven-storey building at Old Dhaka’s crowded Gulistan area on Tuesday also injured over 150 people, officials said.
The cause of the explosion could not be known immediately, but local residents suspected chemicals illegally stored inside the building, mostly used as an office and business complex, might have sparked the blast.
Talking to reporters after visiting the explosion site on Wednesday, Khan said members of bomb disposal units and police, army and fire service personnel will conduct the probe into the incident.
“But if the country’s experts fail (to investigate), we will seek assistance from foreign experts,” he said.
“The investigation must be impartial. There is no reason for the investigation to be partial,” he was quoted as saying by the Daily Star newspaper.
Everything regarding the investigation will be made public, Khan said.
On Tuesday, hospital authorities confirmed 17 deaths while one more victim succumbed to his wounds overnight, raising the death toll to 18. The number of wounded people is estimated to be over 150, officials said.

A four-member probe body headed by Lt Col Mohammad Tajul Islam Chowdhury, director of Fire Service and Civil Defence (Operation and maintenance), has been formed to look into the cause of the explosion.
The committee has been tasked to submit its report within five working days, said Shahjahan Sikder, an official at the Fire service and Civil Defence headquarters.
Meanwhile, three firefighting units started the rescue operation for the second day on Wednesday.
Although the fire service resumed rescue and recovery efforts for a second day at the blast site, the work is moving slowly because of the risky condition of the building.
“It became risky to carry on the extensive rescue searches since the explosion has weakened the building. We are waiting for the safety clearance from the concerned experts to restart our full-scale operation,” fire service’s deputy director Babu Chakrabarty told reporters.
He added that rescuers were kept ready to enter into the building, where the explosion took place.
The fire service had suspended the rescue campaign after fire chief Brigadier General Mohammad Mainuddin Tuesday night said that the “the building appeared vulnerable after the explosion” that occurred on its ground floor and badly damaged two upper floors.
Witnesses said the building, which mostly housed several sanitary hardware shops and some business offices, was bending on one side while the fire officials said the blast damaged most of the pillars on the ground floor making it risky for anyone to enter into it.
The beams and pillars in the basement of the building are damaged, and operating heavy machinery in the area, such as excavators, could create vibrations that might cause the building to collapse, said Zafar Hossain, deputy commissioner of the Lalbagh zone of DMP.
“The experts are already holding a meeting. They will come here and will give further instructions. The rescue work is still incomplete,” he was quoted as saying by the Dhaka Tribune newspaper.
Once the fire service fully resumes its operation and removes the debris, only then it will be possible to confirm if anyone is trapped there, he added.
Officials fear the death toll is likely to go up as many of those rescued are critically injured.
Meanwhile, authorities handed over the bodies of the 17 people who died in the explosion to their relatives on Wednesday, said Inspector Bachchu Mia, in-charge of the state-run Dhaka Medical College and Hospital police outpost.
Among the injured, 11 people have been undergoing treatment at the Sheikh Hasina National Institute of Burn and Plastic Surgery, United News of Bangladesh reported.
According to media reports, at least three people were still missing but several more were feared to be trapped under debris.
“We cannot confirm yet if the blast was the outcome of any sabotage. But our bomb disposal unit along with military and police bomb disposal teams are working,” RAB director general M Khurshid Hossain told reporters on Tuesday.
Prime Minister Sheikh Hasina, who is currently in Doha for the United Nations Conference on the Least Developed Countries, has prayed for the peace of the departed and urged authorities to take prompt action to ensure better treatment of the injured.
Tuesday’s explosion occurred two days after another exposition at a building in Dhaka’s Science Laboratory area that killed three people and injured several others.
Last week, seven people were killed in an explosion at a private oxygen plant in the southeastern port city of Chattogram, injuring dozens of others.
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#Dhaka #explosion #toll #raises #Bangladesh #govt #sets #probe
( With inputs from www.siasat.com )

March 8, 2023
UK Foreign Secretary raises IT searches at BBC offices with Jaishankar

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New Delhi: UK Foreign Secretary James Cleverly on Wednesday raised the issue of tax searches at BBC offices in India with his Indian counterpart S. Jaishankar.
The issue was raised during their bilateral meeting, as per reports citing an interview with Cleverly, who is in India to participate in the two-day G20 Foreign Ministers meeting, which began here on Wednesday.
Last month, income tax authorities conducted “survey operations” at BBC offices in New Delhi and Mumbai.
The searches came after the Indian government had reacted strongly against a BBC documentary on post-Godhra incident riots in Gujarat in 2002, when Prime Minister Narendra Modi was the state’s Chief Minister.
Began the morning with a bilateral meeting with Foreign Secretary @JamesCleverly of the UK.
Reviewed the progress in our relationship since our last discussion. Noted in particular the commencement of the Young Professional Scheme. pic.twitter.com/R3aUvX1U4Z
— Dr. S. Jaishankar (@DrSJaishankar) March 1, 2023
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#Foreign #Secretary #raises #searches #BBC #offices #Jaishankar
( With inputs from www.siasat.com )

March 1, 2023
Moody’s raises India’s economic growth projections

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Chennai: Global credit rating agency Moody’s Investors Service on Wednesday raised India’s economic growth projections as well as several economies like the US, Russia, Euro area, China and others.
In all cases, strong data in the second half of 2022 created large carry-over effects for 2023, Moody’s said.
It has projected India’s growth at 5.5 percent in 2023 and 6.5 percent for 2024.
In the case of inflation rate, Moody’s has predicted 6.1 percent for 2023 and 5.5 percent for 2024 for India.
According to the credit rating agency, the primary drivers of economic growth in 2023 and 2024 will be the Central banks’ decisions regarding how much to raise interest rates, for how long, and when to begin to lower them.
Moody’s said the Central banks, having embarked on the most aggressive monetary policy tightening in decades, are now at a precarious juncture, faced with the question: Is the magnitude of rate hikes undertaken thus far adequate to quell inflation?
While there is a sense that the end to tightening is near, it is unclear how many more rate increases would be appropriate and for how long interest rates will remain restrictive. Central banks’ decisions will evolve according to wage and inflation dynamics.
The focus on inflation by the emerging markets, even as countries were still recovering from COVID-19, prevented second-round inflationary dynamics from taking hold, Moody’s said.

Most of the central banks in the emerging markets are close to moving to an extended pause in rate hikes, with the focus gradually shifting to supporting growth with inflationary pressures appearing to dissipate.
“Rate cuts could follow soon after the end of the Fed’s (US Federal Reserve) tightening cycle, although we expect emerging market central banks to stay vigilant about inflation resurgence risks, which could shift policy direction in the US,” Moody’s said.
The Reserve Bank of India’s (RBI) monetary policy committee voted in February to lift the repo rate at a slower pace, by 25 bps to 6.5 percent, maintaining its policy stance as “focused on withdrawal of liquidity.”
Moody’s expects the global growth to continue to slow in 2023, with increasing drag from cumulative monetary policy tightening on economic activity and employment in most major economies.
“We forecast G-20 global economic growth will downshift to 2.0 percent in 2023 from 2.7 percent in 2022, and then to improve to 2.4 percent in 2024,” Moody’s said.
According to the credit rating agency, possible surge in oil prices with increased demand from China and if Russia were to follow through with a five percent cut to its supply in March, as it has indicated, oil markets could stay tight and hinder disinflation.
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#Moodys #raises #Indias #economic #growth #projections
( With inputs from www.siasat.com )

March 1, 2023
YSRCP MP raises doubts over CBI probe into Vivekananda Reddy’s murder case

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Hyderabad: YSR Congress Party Lok Sabha member from Kadapa in Andhra Pradesh Y S Avinash Reddy on Friday raised doubts over the ongoing investigations by the CBI into the murder of former state Minister Y S Vivekananda Reddy in 2019.
Avinash Reddy, who appeared before the CBI officials here in connection with the ongoing probe, claimed that the investigation is going on in a way of “targetting a person” rather than with the objective of ascertaining the truth.
“This has been going on like targetting the person rather than aiming to find out the facts. This investigation has been going on targetting the person rather than in the direction of finding out the truth. It is not correct. There are many facts. Anybody will get doubts about the way this investigation is being conducted,” the MP told reporters after appearing before the CBI.
Avinash Reddy further said he submitted a representation to the CBI IO on the “facts” he knew and sought a comprehensive investigation on those as well.
After being issued summons by the CBI, this is the second time that Avinash Reddy is appearing before the central agency, which is probing Vivekananda Reddy’s murder case.
Avinash Reddy, who is related to Vivekananda Reddy, had earlier appeared before CBI in January.
The MP said he was called by the CBI through a notice under Section 160 CrPC (police officer’s power to require attendance of witnesses).
“Whatever the CBI IO (Investigating Officer) questioned, I gave answers to the best of my memory and to the best of my knoweldge. I stand by what I had spoken to media on the day after the death of Vivekananda Reddy,” Avinash Reddy said.

Avinash, a cousin of Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy, said the media should act in a responsible manner over its reporting on the case.
Vivekananda Reddy was the brother of late Andhra Pradesh chief minister Y S Rajasekhara Reddy and uncle of incumbent AP Chief Minister Jagan Mohan Reddy.
He was found murdered at his residence in Pulivendula, the constituency now represented by his nephew, on the night of March 15, 2019, weeks before the state Assembly elections.
Asked on the CBI counter affidavit filed in the High Court opposing the bail of one of the accused in the murder case, Avinash Reddy said he was also asked on that and he gave replies as per his knowledge.
The case was initially probed by a special investigation team (SIT) of the state crime investigation department, but was handed over to the CBI in July 2020.
The CBI had filed a charge sheet in the murder case on October 26, 2021 and followed it up with a supplementary charge sheet on January 31, 2022.
The CBI affidavit had said “Investigation further revealed that YS Avinash Reddy along with other persons, after entering in the house of Vivekananda Reddy and seeing blood in the bedroom and body lying in pool of blood in the bathroom, conveyed to a local political leader that Vivekananda Reddy died due to heart attack.”
Y S Avinash Reddy also informed police that Vivekananda Reddy died due to heart attack and heavy blood vomiting, “as if the death had occurred due to natural causes”, the affidavit said.
“It indicates that he deliberately intended to conceal the design of murder of Vivekananda Reddy. It also indicates that as a part of conspiracy of fake story of heart attack and blood vomiting was floated in a pre-meditated manner to give it a colour of natural death,” the affidavit said.
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#YSRCP #raises #doubts #CBI #probe #Vivekananda #Reddys #murder #case
( With inputs from www.siasat.com )

February 24, 2023
FreshToHome raises $104 mn led by Amazon Smbhav Venture Fund

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Delhi: Fresh fish and meat e-commerce platform FreshToHome on Tuesday said it has raised $104 million in Series D funding with Amazon Smbhav Venture Fund leading the round.
Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital and others also participated in this round.
The funds will strengthen FreshTo’ome’s mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable to millions of meat lovers”
“We are �ow a ‘Pro’icorn’ with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees and investors, our focus is on profitability and sustainable value cre”tion,” said Shan Kadavil, CEO and Co-founder, FreshToHome.
New investors joining this round include E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka.
Launched in 2015, FreshToHome operates in more than 160 cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products.
“Our vision with the $250 million Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology enabled companies led by visiona”y founders,” said its spo”esperson.
“We are excited to partner with FreshToHome for the next phase “f its growth,” the spokesperson added.

Two years ago, FreshToHome raised $121 million in its Series C rou’d, led by Dubai’s Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital a’d US Government’s development finance institution — DFC.
FreshToHome said that on a company-wide basis, it is now operationally profitable.
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#FreshToHome #raises #led #Amazon #Smbhav #Venture #Fund
( With inputs from www.siasat.com )

February 22, 2023
IOC contradicts Adani after TMC’s Mahua Moitra raises stink of corruption in LPG deal

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New Delhi: Indian Oil Corporation (IOC) on Thursday took to Twitter to clarify on its initial pact for hiring Adani Group’s port at Gangavaram in Andhra Pradesh for LPG imports in addition to existing pacts with nearby ports, saying there is no take-or-pay agreement.
The statement, which came in response to TMC’s Mahua Moitra raising a stink of a scam in hiring of the port facility without a tender, contradicted Adani Ports and Special Economic Zone Ltd’s earning call presentation that said “MoU signed with IOCL for a take-or-pay contract at Gangavaram Port for building LPG handling facilities.”
Moitra, reacting to the news based on the statement in the presentation, tweeted, “Brazen theft”.
Tagging Oil Minister Hardeep Singh Puri and CVC on Wednesday evening, Moitra said, “No tender. No CVC norms. Moving business from Vizag Port to Gangavaram. Skimming from coal, skimming from gas, now skimming from ‘chula’ in every household. Shame!”.
IOC in an unusual move on Thursday sent out a series of tweets to clarify its position.
“IOC has just signed a non-binding MoU with APSEZL till now,” it said, adding that it floats no tenders for hiring of facilities at ports to import LPG — a commodity that India is short of production.
“There is no take-or-pay liability or any binding agreement, as of now,” it said.
A take-or-pay contract means that the state-owned firm will have to pay for using the terminal’s full 5 lakh tonnes capacity a year even if it ships less than the committed quantity.

IOC currently uses state-run Visakhapatnam or Vizag Port, located adjacent to Gangavaram port, to import some 7-8 lakh tonnes of LPG annually.
APSEZL, the ports unit of the Adani Group, had revealed the plan while announcing the company’s third quarter financial results on February 7.
Moitra’s party is among the opposition parties which have been demanding a probe into allegations a US short seller has levelled against the Adani Group.
Hindenburg Research on January 24 accused the Adani Group of accounting fraud and stock manipulation, allegations that the conglomerate has denied as “malicious”, “baseless” and a “calculated attack on India”.
Listed companies of the Adani Group lost over USD 125 billion in market value in the last three weeks. Stocks of most group firms were up on Thursday.
Replying to Moitra’s tweet, IOC said it imports LPG at various ports, including Kandla, Mundra, Pipavav, Dahej (in Gujarat), Mumbai and Mangalore (in Karnataka) on West Coast and Haldia (in West Bengal), Vizag (in Andhra Pradesh) and Ennore (in Tamil Nadu) on the East.
Two more import terminals are coming up at Kochi in Kerala and Paradip in Odisha. “These will be used in due course of time,” IOC said.
“IOC enters into agreements with various ports on a regular basis to enhance capability to supply LPG across India. For hiring of LPG terminals, OMCs evaluate the infrastructure for suitability for catering to the nearest market at a reasonable cost. No separate tender is invited,” it said.
OMCs are Oil Marketing Companies.
“LPG demand in the country is on a constant increase. There are 31.5 cr connections after the Ujjwala Scheme; up from 14 cr earlier. OMCs are constantly on the lookout for new port facilities which make commercial sense in Logistics,” IOC said.
Providing detailing about the terminal hiring pacts on the east coast, the company said currently there are only two terminals near Vizag — one by South Asia LPG (a joint venture of France’s TotalEnergies and HPCL) and East India Petroleum Limited (a private company).
“SALPG charges Rs 1,050 and EIPL charges Rs 900 as charges with lower capacity vessel unloading capability,” IOC said.
“EIPL facility has no captive connectivity to be used on a continuous basis. IOC has just signed a non-binding MoU with APSEZ till now. APSEL has offered a price of Rs 1,050 for LPG import terminaling charges with facility of unloading of bigger vessels of refrigerated LPG directly,” it added.
The Gangavaram port would allow handling of bigger vessels.
“This gives an additional advantage compared to SALPG & EIPL as bigger vessels can be quickly unloaded. Such an arrangement will save freight & demurrage due to extra time for evacuation. There is no take-or-pay liability or any binding agreement, as of now,” IOC said.
While 0.7 million tonnes per annum of LPG is imported at Vizag port now, the new port is for handling 0.3 million tonnes.
“Vizag will continue to be utilised. Availability of multiple terminals will give operational flexibility, increase competition among terminal operators & an opportunity for competitive rates,” it added.
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#IOC #contradicts #Adani #TMCs #Mahua #Moitra #raises #stink #corruption #LPG #deal
( With inputs from www.siasat.com )

February 16, 2023
KTR raises objection to proposed Data Embassies in Gujarat

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Hyderabad: Telangana’s Minister for Information Technology K.T. Rama Rao on Thursday wrote a letter to the Union Finance Minister Nirmala Sitharaman, raising serious objections against the Budget proposal for establishing the Data Embassies in Gujarat International Finance Tec-City (GIFT city).
The minister detailed the “huge risks” involved in establishing International Data Embassies at one location, that too in a state highly prone to earthquakes.
The letter also highlights the advantages that Hyderabad holds as an ideal location for data centres.
Moreover, this move might pose a security threat as the proposed location is in a state sharing a border with another country.
The Minister suggested that the interests of the client countries should also be considered while choosing the location of the Data Embassies.
KTR said that Hyderabad is in Seismic Zone-II, one of the least active seismic zones in India, which makes the city an ideal location for setting up data centres.
“In contrast, GIFT city is located in Seismic Zone-III and is very close to Seismic Zone-IV, indicating that the region is at a high risk for earthquakes. Developing international data embassies in such an area presents potential risks and could have significant consequences for international relations if critical infrastructure is impacted,” KTR added.
The minister said that after due diligence, global data centre majors chose Telangana to invest in setting up their large data centres.

From Amazon Web Services to Microsoft Azure, the state is now home to several hyperscale and edge data centres.
The minister said that the state government launched its Data Centre Policy in 2016, and offered several important incentives and approval provisions to facilitate the setting up of data centres.
Access to dual power grids, low-cost power supply and a high-speed fibre network are a few such provisions.
“The overall experience of the companies which have invested in Telangana has been extremely positive. The State will be happy to provide similar support to International Data Embassies,” the Minister remarked.
Further, KTR urged the Union Finance Minister to modify the Budget proposal to provide them with multiple locations that would suit their data security requirements.
KTR said that it would provide a level playing field for data infrastructure among the states.
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#KTR #raises #objection #proposed #Data #Embassies #Gujarat
( With inputs from www.siasat.com )

February 16, 2023
Moved by earthquake in Turkey, Hyderabadi girl Khadija raises money for victims; writes heart wrenching poem

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An eight-year-old girl Khadija Ahmed in Hyderabad has sold her three poems to 10 persons and raised Rs 3000 to donate the money for the earthquake affected people in Turkey.
She was shaken by the news of the killings and damages pouring in from Turkey. She wanted to help the victims and hit upon an idea of her own.
When asked by this Siasat.com correspondent what her meager contribution would do for the victims who have lost lives, homes and everything they had she narrated a story.
“My parents had told me a story. It was about Prophet Ibrahim (Abraham). His enemy raised a massive fire as he wanted to throw him into the flames and kill him. There was this little bird that heard about the plans of that enemy and began flying with a drop of water in its beak. On her way someone asked the bird what would you do with that drop of water. The bird replied that it would pour it on the fire. The onlooker who was surprised with the answer asked what difference that one drop of water would make. When God will ask me what you did to help my prophet I would tell Him that I did not remain a silent spectator. I dropped water to put out the flames.”
Khadija said she has been inspired by this story of the little bird.
Khadija, daughter of Kaleem Ahmed and Sumaiyah Syed, studies at Oakridge International School located in Gachibowli.
She is a grade three student who spends most of her free time in reading, painting and listening to music. Public speaking is another area where she takes interest. Her favourite author is J K Rowling.
When the Wind brought sorrow,
Destroying homes and families.
The Wind asked if it would be the families he would borrow,
But the people said, ‘No!’ ‘It can be anything except our people, our fantasies.’
But the Wind laughed wickedly, and said,
“I do not listen to filthy things like you.
“So hurry along, before I destroy your kids in their cosy beds!”
And the people knew, that whatever wind said was always true.
So they did whatever Wind said,
And Wind was to rule the Earth, always in everyone’s and his lifetime.
And sometimes, Wind was so dangerous that people used to be scared covered in their beds,
Some say he might die out of anger in time!
Some say he will die a vain death,
While others say that’s not true.
Some say while he dies he will have no wealth,
But many say he will come in different souls and be YOU!
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#Moved #earthquake #Turkey #Hyderabadi #girl #Khadija #raises #money #victims #writes #heart #wrenching #poem

( With inputs from www.siasat.com )

February 14, 2023
PhonePe raises extra $100 mn at $12 bn valuation

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Bengaluru: Leading fintech company PhonePe on Tuesday announced it has raised another $100 million in primary capital from Ribbit Capital, Tiger Global, and TVS Capital Funds, at a pre-money valuation of $12 billion.
The new investment follows the recent $350 million primary fundraise from General Atlantic, a leading global growth equity firm, that PhonePe closed in January.
“We are privileged to have a great set of leading global investors, both existing and new, who believe in our mission of building massive technology platforms to bring at-scale financial and digital inclusion in India,” Sameer Nigam, CEO and Founder of PhonePe.
PhonePe started its latest fundraise with a target of raising up to $1 billion in capital, post its domicile shift to India.
With this second tranche, the company has already raised $450 million within six weeks from leading investors.
It expects further investments from leading global, as well as prominent high net worth Indian investors in due course.
“PhonePe lives by the same values as we do at Ribbit. We both believe that better money makes life better. PhonePe’s relentless pursuit of this principle in serving consumers and businesses all across India is a mission to live for,” said Micky Malka, Founder of Ribbit Capital.
Founded in December 2015, PhonePe has 44 crore registered users and one in four Indians are now on PhonePe.

The company has successfully digitised 3.5 crore offline merchants spread across the country, covering 99 per cent pin codes in the country.
PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45 per cent of the transactions on the BBPS platform.
“We are excited to continue our partnership with PhonePe as they lead the digital payments sector in India, a market we believe is still in the early stages with significant growth potential ahead,” said Scott Shleifer, Partner, Tiger Global.
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#PhonePe #raises #extra #valuation
( With inputs from www.siasat.com )

February 14, 2023
Casteist slur in college fest: Karnataka Cong raises concern, urges for action

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Bengaluru: Karnataka Congress on Saturday raised concern over use of casteist slur in a skit performed at a college fest here.
“There is a video containing abusive and objectionable content on Dr B.R. Ambedkar and Dalit communities being exhibited in a programme organised at Jain college in Bengaluru,” it stated in its social media handle.
Demanding an action by the City Police Commissioner and Bengaluru police in this regard, the party said, “The police should take cognisance of the incident and initiate legal action.”
The incident during a college skit recently in Bengaluru has triggered a row with a police complaint being registered.
‘The Delroys Boys’, who performed the skit, have tendered an unconditional apology for the same. However, the debate over the issue is gaining traction.
On Thursday evening a group of students published an online petition on Jhatkaa.org bringing the incident to light. The petition stated the college contingent from Jain University’s Centre for Management Studies (CMS) staged an incredibly casteist and insensitive skit at the event.
The anonymous petitioners objected to the normalisation of caste discrimination in the pretext of humour. The skit was performed as part of ‘MadAds,’ a segment at the fest where the participants had to advertise imaginary products along lines of humour.
‘The Delroys Boys’, the theatre group from CMS, who are in the thick of controversy, in their skit, exhibited a man belonging to the lower caste attempting to date an upper caste woman. The skit turned B.R. Ambedkar as Beer Ambedkar. The phase of why be Dalit, when you can be D-Lit.

Akshay Bansode, State Member of the Vanchit Bahujan Yuva Aghadi has filed a police complaint in Maharashtra under provisions of the Atrocity Act and IPC. The complainant had urged the police to treat the complaint as FIR and initiate action against the performers and University.
The complainant had urged the police to treat the complaint as an FIR and initiate action against the performers and University.
Sources explain that the controversial skit was performed at other platforms. The Delroys Boys maintained that they apologise to everyone they have spoken badly about.
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#Casteist #slur #college #fest #Karnataka #Cong #raises #concern #urges #action
( With inputs from www.siasat.com )

February 11, 2023