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Showing posts from June, 2022

Usha Martin Limited Will Be Back To Full Capacity Post-Monsoon, Says Rajeev Jhawar

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 Usha Martin is one of the world’s leading manufacturers of wire rope. Established in the year 1960, today Usha Martin is a multi-unit and multi-product organization. The wire rope manufacturing facilities located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK produce one of the widest ranges of wire ropes in the world. Rajeev Jhawar, the son of Brij Jhawar, is the managing director of Usha Martin Limited since May 19, 2018, and in the three decades that he has been at the helm of the Usha Martin Group. According to Rajeev Jhawar, the various measures announced by the Central government to boost the economy are likely to start yielding results post-monsoon of 2020. Wire rope manufacturer Usha Martin Ltd (UML) is expecting domestic demand, particularly in the construction and auto sectors, to start picking up post-monsoon. According to Rajeev Jhawar, Managing Director, UML, the various measures announced by the Central government to boost the economy are likely to start yielding resu...

Boris Johnson’s ethics adviser quits after suggesting UK PM broke code

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 Christopher Geidt’s resignation frustrates Johnson’s ability to move on from the saga that saw him become the first sitting prime minister found to have broken the law. The spotlight is back on Boris Johnson’s conduct during the Partygate scandal following the resignation of his ethics adviser, Christopher Geidt, just a day after suggesting in Parliament that the prime minister had breached the ministerial code . “With regret, I feel that it is right that I am resigning from my post as independent adviser on ministers’ interests,” Geidt said Wednesday in a statement on the UK government website. His resignation comes as a surprise and mystery to Johnson and his team, according to a government official. Geidt’s resignation frustrates Johnson’s ability to move on from the saga that saw him become the first sitting prime minister found to have broken the law. Police fined him for attending a gathering for his birthday in Downing Street in June 2020, in breach of the Covid lockdown ru...

UAE to suspend exports of Indian wheat for four months

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  UAE's economy ministry cited interruptions to global trade flows as the reason for its move, but added that India had approved exports of wheat to the UAE for domestic consumption. The United Arab Emirates (UAE) has ordered a four-month suspension in exports and re-exports of wheat and wheat flour originating from India, the world’s second biggest producer of the grain, state news agency WAM said on Wednesday. The Gulf nation’s economy ministry cited interruptions to global trade flows as the reason for its move, but added that India had approved exports of wheat to the UAE for domestic consumption. India banned wheat exports in a surprise move on May 14, except for those backed by already issued letters of credit (LCs) and to countries seeking to ensure food security. Since then, it has allowed shipments of 469,202 tonnes of wheat. Companies wishing to export or re-export Indian wheat brought into the UAE before May 13, when India’s suspension began, must first make an applicati...

Pope Francis Says Ukraine War Was "In Some Way Provoked"

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Pope Francis said the situation was not black and white and that the war was "perhaps in some way provoked". Rome:  Pope Francis has taken a new series of swipes at Russia for its actions in Ukraine, saying its troops were brutal, cruel and ferocious, while praising "brave" Ukrainians for fighting for survival. But in the text of a conversation he had last month with editors of Jesuit media and published on Tuesday, he also said the situation was not black and white and that the war was "perhaps in some way provoked". While condemning "the ferocity, the cruelty of Russian troops, we must not forget the real problems if we want them to be solved," Francis said, including the armaments industry among the factors that provide incentives for war. "It is also true that the Russians thought it would all be over in a week. But they miscalculated. They encountered a brave people, a people who are struggling to survive and who have a history of strug...

Russia-Ukraine War | There’s a gap between ground realities and Western policy illusions. Here’s why

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  The ongoing Russia-Ukraine war is an example wherein despite the increasing difficulty faced by the Ukraine military, write ups and policy suggestions cropping up in Western journals are openly hinting towards a possible victory for Ukraine  While wars between two countries are always determined by the relative asymmetry of military capabilities, the eventual outcomes are often clouded by false illusions and misconstrued public opinion. Yet, we lay individuals often fall prey to such artificial constructs masquerading as ‘gospel truth’, even if they eventually turn out to be untrue. The ongoing Russia-Ukraine war is one such example wherein despite the increasing difficulty faced by the Ukraine military, write ups and policy suggestions cropping up in Western journals are openly hinting towards a possible victory for Ukraine. The current edition of the  Foreign Affairs , published in the United States, for instance, has come out with some fascinating but one-sided write...

Crypto Crash Update (6/14): Bitcoin, Ethereum, Solana, Cardano, DOT, DOGE, XRP, BNB fall upto 15%

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  Crypto Market Crash Latest News Today (14th June): Top cryptocurrencies have suffered worst price drop in two years as the global crypto market cap fell below the $1 trillion mark. Crypto Crash Latest News (14th June):  Top cryptocurrencies have suffered worst price drop of 2022 as the global crypto market cap fell below the $1 trillion mark. This is the first time since January 2021 when the global crypto market cap is below $1 trillion. In fact, around $100 billion has been wiped out from the crypto markets in a day. The global crypto market cap has fallen to $912 billion, down from the $1.04 billion recorded  yesterday  morning.  At the time of writing, almost every top crypto was in the red with prices of many touching new lows in the last 24 hours, according to CoinMarketCap data (9.10 am, India time).  Bitcoin (BTC) price has dropped by 14 percent percent in the last 24 hours to $21,966. The top crypto’s dominance has decreased nearly 2 percent to 4...

World stocks near fresh 2022 lows on inflation fears

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  World stocks fell towards fresh 2022 lows and the Japanese yen slid to levels not seen in nearly a quarter of a century on Monday as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. The substantially higher-than-expected U.S. CPI print on Friday was hard to digest for investors, who sold both bonds and equities and quashed expectations that policymakers were starting to gain the upper hand in capping soaring prices. With inflationary signs showing no signs of abating and new mass COVID-19 testing in China sparking concerns of more crippling lockdowns and squeezed global supply chains, investors cut exposure to risky assets. An index of world stocks is down 0.7%, just shy of a new 2022 low. European stock indices are a sea of red in early trading with benchmark shares down nearly 2% while U.S. stock futures indicated a lower start. "This is happening in spite of the actions that have so far been taken by central ...