After office building, CM Yogi plans to paint text books in saffron

New Delhi, Dec 24: The Delhi Police said that a head constable was killed during clashes over the Citizenship Amendment Act (CAA) in northeast Delhi today.

Deputy Commissioner of Police, Shahdara, Amit Sharma was also injured during clashes, a senior official said. Sharma suffered injuries to his head and hand. He was hospitalised and is doing fine, the official added.

Tension escalated in northeast Delhi with protesters torching at least two houses and a fire tender in the Jaffrabad and Maujpur areas, where pro and anti-CAA groups clashed for the second consecutive day on Monday and hurled stones at each other.

Violence was also reported from the Chandbagh area in Jaffrabad.

Police fired tear gas shells and also resorted to lathicharge to disperse the protesters.

According to officials, a fire tender was damaged by the protesters after it responded to a fire call in the area.

The Delhi Metro closed entry and exit at the Jaffrabad and Maujpur-Babarpur stations as an uneasy calm prevailed in the area.

"Entry & exit of Jaffrabad and Maujpur-Babarpur are closed. Trains will not be halting at these stations," the Delhi Metro Rail Corporation (DMRC) said in a tweet.

Entry and exit were closed at the Jaffrabad metro station for over 24 hours.

Clashes broke out on Sunday evening between pro and anti-CAA groups near Jaffrabad after a large number of people protesting against the Citizenship (Amendment) Act (CAA) blocked a road, while similar sit-ins were launched in several other parts of the national capital.

Delhi chief minister Arvind Kejriwal has urged lieutenant governor of Delhi and the Union home minister to restore order.

Nobody should be allowed to orchestrate violence, he said.

Delhi Lt Governor Anil Baijal instructed the police commissioner to maintain law and order in the national capital in the wake of violence.

"Instructed @DelhiPolice and @CPDelhi to ensure that law and order is maintained in North East Delhi. The situation is being closely monitored. I urge everyone to exercise restraint for maintenance of peace and harmony," Baijal tweeted.

Delhi minister and Babarpur MLA Gopal Rai on Monday urged the people in the area to maintain peace, saying some people were purposely trying to disturb the atmosphere.

"With folded hands, I request people in Babarpur Assembly to maintain peace. Some people are purposely trying to spoil the atmosphere. I have spoken to Delhi LG and he has assured me that more policemen will be deployed to bring the situation under control," Rai said in a tweet.

New Delhi, Jul 18: National carrier Air India on Friday said that it is in a ‘very challenging financial’ situation and is taking recourse to several initiatives, with a view to ensuring the continuance of its operations.

The airline, in a statement, noted that it has introduced the partially voluntary 'Leave Without Pay' (LWP) scheme on July 14.

"The scheme primarily enables employees to avail the benefits of proceeding on leave without pay on a voluntary basis. The LWP scheme has been introduced for grant of leave without pay and allowances for permanent employees for a period of six months or two years, which is extendable upto 5 years," the statement said.

"Air India had brought out similar scheme earlier... Several hundred employees have, in the past, availed of the LWP Scheme."

As per the statement, in the wake of the ongoing Covid-19 pandemic, there may be employees who are unable to attend their office duties in person on account of personal reasons.

"The LWP scheme enables employees to take a break from their office responsibility for a defined period of time with the approval of the management, while retaining their employment with the company," the statement said.

"They will continue to avail facilities such as passage, medical and housing at specified rates."

Accordingly, the LWP scheme provides the opportunity to employees to take up alternative employment with the approval of the management during the period of the said leave, the airline said.

"The LWP scheme is a win-win situation for both the management as well as employees as it provides flexibility to employees and simultaneously reduces the wage bill for the company," the statement said.

"It is important to note here that the Covid-19 outbreak has very seriously impacted the airline sector and currently, the airline operations of the company are a small fraction of the prior Covid level operations."

The airline said that employees are encouraged to apply for availing the benefit of the scheme, in the prescribed format, by August 15.

"The only addition in this scheme as compared to the earlier LWP scheme is that the management can pass an order requiring the employees to go on leave for a period of six months or two years (extendable upto 5 years) compulsorily taking into consideration 'Suitability, Efficiency, Competence, Quality of performance, Health, Non-availability of employee and Redundancy'," the statement said.

Furthermore, the airline said that this provision has been introduced for use, "very sparingly", with a view to ensuring that the overall efficiency of the organisation, improves and the management will ensure that this will be implemented with complete fairness and transparency as per prescribed procedure.

Consequent to the announcement of the scheme, Air India unions are discussing their strategy against the move which might involve legal recourse.

An Air India union leader on Friday told IANS: "This is going to affect the livelihood of many. Why not every employee of AI take LWP a few days every month. This way the burden can be shared."

"The motive of the top management is to save their money by snatching money from lower employees."

According to Air India PIM document, as on November 1, 2019, the airline, on a standalone basis (without subsidiaries), had around 14,000 employees, including fixed term contract staff.

The development comes as the Centre has re-initiated the airline's divestment plan with new norms.

Interestingly, this time, it has sweetened the deal by substantially reducing the debt on the airline's account books and offered a 100 per cent stake in the loss-making airline.

The last date for bid submission to acquire Air India has also been extended to August 31.

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”