Tag: rout

India elected to UN statistical body; China suffers diplomatic rout

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United Nations: In a sign of India’s diplomatic influence, it has been elected to the UN Statistical Commission and two other bodies while China suffered a diplomatic rout unable to get the required votes for the Commission when it squared off against India.
India was elected unopposed in two elections on Wednesday by the UN Economic and Social Council (ECOSOC) to the Commission on Narcotic Drugs and the Programme Coordinating Board of the Joint UN Programme on HIV/AIDS.
In the election to the Statistical Commission where China was competing with India for seats earmarked for the Asia Pacific region, India received 46 of the 53 votes for the Statistical Commission electing it to one of the two seats for the Asia Pacific region in the first round of voting.

China came in third with paltry 19 votes, while South Korea received 23 and the United Arab Emirates 15, necessitating a second round of ballotting because none of them received the majority of 27 votes required for election to the region’s second seat under the rules.
In the runoff between China and South Korea, they tied with 25 votes each and under the rules, ECOSOC President Lachezara Stoeva drew lots to break the tie and Seoul was picked.
India’s External Affairs Minister S. Jaishankar tweeted, “India’s expertise in the field of statistics, diversity & demography has earned it a seat on the UN Statistical Commission.”
He congratulated India’s UN Mission team for “for coming through so strongly in a competitive election”.
Seats on most UN bodies are allocated by region, although all countries vote to pick the candidates from the region.

India, which will begin its term on the Statistical Commission in 2024, returns after 20 years having completed its last term in 2004.
The Statistical Commission bills itself as “the highest body of the global statistical system bringing together the chief statisticians from member states from around the world”.
It sets statistical standards and develops concepts and methods, at the national and international levels.
China’s poor performance in the Statistical Commission election, securing only 19 votes and trailing South Korea was a surprise because of the extensive diplomatic and economic campaigns it has undertaken around the world.
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#India #elected #statistical #body #China #suffers #diplomatic #rout
( With inputs from www.siasat.com )

April 6, 2023
Day after rout, Indian players back in nets; Shami set to play in Ahmedabad

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New Delhi: A day after an embarrassing nine-wicket rout at the hands of Australia, some of India’s Test squad members were back at the Holkar Stadium for a gruelling 90-minute net session.
With head coach Rahul Dravid and batting coach Vikram Rathour for company, opener Shubman Gill, middle-order batter Shreyas Iyer, all-rounders Ravichandran Ashwin, Ravindra Jadeja, and left-arm wrist spinner Kuldeep Yadav sweated it out in two nets adjacent to the match strip.
The third Test, played on an extremely turning pitch with variable bounce, ended in just over two days.
While Kuldeep had a long bowl at the nets, the other four enjoyed extended batting sessions against local net bowlers and also faced throwdowns.
There were no experimental or innovative shot selections but plain and simple copybook batting as they looked to get some form back before the fourth and final Test, starting in Ahmedabad from March 9.
Shami set to be back in playing XI
India’s senior-most speedster Mohammed Shami is expected to feature in the playing XI for the final Test after being rested as part of workload management during the Indore game.
The Indian team management, in consultation with its medical staff, has decided to space out the pace bowlers, who are going to play the IPL and are in the ODI World Cup plans.

Hence Shami, who had played the first two Tests and is also a part of the ODI squad, was rested for the third game. In his place, Umesh Yadav was drafted in as the second pacer after Mohammed Siraj.
With Siraj bowling only 24 overs in the first three games for one wicket, Umesh, with his better show in Indore, and who is not part of the white ball set-up, stands a good chance to share the new ball with Shami in Ahmedabad.
Siraj is likely to feature in all three ODIs between March 17 to 22 and will probably get some time off during the final game at the Narendra Modi Stadium.
Shami, who has been the best pacer on view across both teams with seven scalps from 30 odd overs in the series, will be needed on a dry Motera surface that might be conducive for reverse swing.
India are currently leading the series 2-1 but need to win the last game, in order to nullify the result of Sri Lanka’s upcoming away series against New Zealand, and qualify for the World Test Championship final.
GCA curators haven’t received any directive from Team India
The pitch at Holkar Stadium has been rated by ICC match referee Chris Broad as “poor”, and the Gujarat Cricket Association (GCA) is unlikely to risk its reputation by preparing something that attracts the attention of the the game’s governing body for the wrong reason.
“We haven’t received any instructions from the Indian team management and our local curators are preparing a normal track as we have always done through the season,” a state association source told PTI on Saturday.
“In fact, last Ranji game over here in January, Railways scored 500 plus (508) batting first and Gujarat, although suffered innings defeat, scored 200 plus in both innings. It won’t be too different this time,” he said.
There are 96 hours still left for the Test match to begin and one doesn’t know what will happen once BCCI curators Taposh Chatterjee and Ashsh Bhowmick take over.
“Obviously, last few days the BCCI’s grounds and pitches committee instruct the local curator. But, certainly, from our end our endeavour is to produce a good Test match pitch,” the official said.
The last time two Test matches were held in Ahmedabad, they ended in just under two days.
“You have to factor in that the Day/Night Test and the one after that were the first ones held after the stadium was refurbished and you had no clue how the pitch will pan out,” he added.
Kohli visits Mahakaleshwar Temple with wife
With the third Test ending way before schedule, star batter Virat Kohli and wife Anushka Sharma on Saturday visited Shree Mahakaleshwar Temple in Ujjain to offer prayers.
While some of the players stayed back in Indore, a few, including skipper Rohit Sharma, returned to Mumbai and will join the team in Ahmedabad on March 6.
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#Day #rout #Indian #players #nets #Shami #set #play #Ahmedabad
( With inputs from www.siasat.com )

March 4, 2023
Adani speaks for first time since turmoil as stock rout continues

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New Delhi: Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller’s accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility.
His group continued to lose on the stock market, with the cumulative rout now nearing USD 108 billion in a week — one of the biggest wipeouts in India’s history.
“After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday’s decision of its withdrawal would have surprised many. But considering the volatility of the market seen yesterday, the board strongly felt that it would not be morally correct to proceed with the FPO,” Adani said in a video message to investors.
The company decided to refund the money to investors.
Adani Enterprises Ltd (AEL) closed at Rs 1,564.70 on the BSE on Thursday, less than half the price at which shares were offered to investors in the follow-on public offer (FPO) that closed on January 31.
Sources close to the group said it was felt that investors may feel cheated for investing in AEL shares in a price band of Rs 3,112-3,276 when the stock is available in the open market at a much lesser rate.
The offer price of the Rs 20,000 crore FPO was at a discount to the trading price when it was first announced last month. But the US-based short seller’s report triggered a selldown in stocks of all 10 group companies and the cumulative loss of value is now close to USD 108 billion.
“In my humble journey of over 4 decades as an entrepreneur I have been blessed to receive overwhelming support from all stakeholders, particularly the investor community… For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses, we have withdrawn the FPO,” Adani said.

US-based short seller Hindenburg Research’s report and the stock rout figured in Parliament on Thursday, with opposition parties seeking a discussion and a probe by a joint parliamentary committee (JPC).
The Reserve Bank of India (RBI) has also asked banks for details of their exposure to the Adani Group.
Adani said the decision to withdraw the FPO will not have any impact on the group’s existing operations and future plans. “We will continue to focus on timely execution and delivery of projects.”
“The fundamentals of our company are strong. Our balance sheet is healthy and assets, robust. Our EBITDA levels and cash flows have been very strong and we have an impeccable track record of fulfilling our debt obligations. We will continue to focus on long term value creation and growth will be managed by internal accruals,” he said.
The share sale plans will be considered once the market stabilises.
“Once the market stabilises, we will review our capital market strategy,” he said.
Adani group, he said, has a strong focus on ESG and every business will continue to create value in a responsible way. “The strongest validation of our governance principles comes from several international partnerships we have built across our different entities.”
Abu Dhabi’s International Holding Co., which invested about USD 400 million in AEL’s FPO as anchor investor, said the funds have been returned.
It was among 33 investors who poured in close to Rs 6,000 crore on January 24 — the day Hindenburg came out with its report.
State-run insurance behemoth Life Insurance Corporation (LIC) took 5 percent of the anchor portion. It already holds a 4.23 percent stake in AEL and has exposures in other group companies as well, including a 9.14 percent stake in Adani Ports and 5.96 percent in Adani Total Gas.
The FPO opened to the public on January 27 and managed to get fully subscribed on the last day on January 31 after non-retail investors poured in money even though the offer price was higher than the stock’s trading price on the bourses.
Adani, who last year became the world’s second-richest man with a USD 147 billion fortune, has seen his own personal wealth plummet by around USD 57 billion since then.
The January 24 report accused Adani Group companies of “brazen stock manipulation and accounting fraud”. The group has denied all allegations, calling the report “bogus” and full of lies, and has threatened legal action.
Citigroup Inc’s wealth arm as also Credit Suisse Group AG have stopped accepting securities of Adani Group firms as collateral for margin loans as banks ramp up scrutiny of the conglomerate’s finances.
Hindenburg in its report said Adani companies had “substantial debt” and that shares in seven listed companies have an 85 percent downside due to what it called “sky-high valuations”.
Adani Group has maintained that its companies have “consistently de-levered”.
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#Adani #speaks #time #turmoil #stock #rout #continues
( With inputs from www.siasat.com )

February 2, 2023