Air India bidders need to absorb $3.3 bn debt to buy carrier

News Network
January 27, 2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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News Network
June 6,2020

Washington, Jun 6: Washington mayor Muriel Bowser on Friday renamed an area near the White House that has become the epicenter of anti-racism protests over the past week "Black Lives Matter Plaza" -- unveiling a giant street mural.

But in so doing, the African-American mayor piqued the ire of the very movement she was supporting, as well as of President Donald Trump.

The protests are focused on the May 25 death in Minneapolis of 46-year-old black man George Floyd while in police custody. A white officer kneeled on his neck until he lost consciousness.

That officer and three others are now in custody and facing charges -- second-degree murder for the kneeling officer, and aiding and abetting that crime for his colleagues.

Just north of the White House, the words BLACK LIVES MATTER were painted in huge yellow letters along the street leading to the presidential mansion, along with the symbol from the DC flag.

"The section of 16th street in front of the White House is now officially 'Black Lives Matter Plaza'," Bowser tweeted.

A city worker put up a new street sign with the name.

"Determination to make America the land it ought to be," she said on Twitter.

The corner of 16th and H is significant -- in a controversial incident on Monday, peaceful protesters gathered there were dispersed with tear gas.

Shortly afterwards, Trump walked from the White House to a nearby church for a photo op, during which he held the Bible in his hand.

"There was a dispute this week about whose street this is. Mayor Bowser wanted to make it abundantly clear that this is DC's street and to honor demonstrators" who protested on Monday, her chief of staff John Falcicchio tweeted.

Rose Jaffe, one of the artists in the collective that painted the BLACK LIVES MATTER sign, told AFP it was "about reclaiming the streets of DC."

But she added that Bowser "has to do more than just a photo-op -- she must carry on when this is washed away" on issues like police accountability.

Stars Like LeBron James praised her move on Twitter, but the local chapter of the Black Lives Movement balked, calling the mural a "performative distraction from real policy changes."

"This is to appease white liberals while ignoring our demands," it said on Twitter, saying Bowser had "consistently been on the wrong side" of the movement.

'We are well equipped'

The US government deployed a significant contingent of federal officers and National Guard troops from other states -- many of them not wearing any identifying garb or badges -- to handle protests in Washington.

Bowser had called up the local Guardsmen but the Justice Department moved to take partial control of peacekeeping, with Guard troops from as far away as Utah brought in.

In a letter to Trump dated Thursday and tweeted early Friday, Bowser called for "all extraordinary federal law enforcement and military presence" to be removed.

She said their deployment was "inflaming demonstrators and adding to the grievances of those who, by and large, are peacefully protesting for change and for reforms to the racist and broken systems that are killing black Americans."

"These additional, unidentified units are operating outside of established chains of command," she added.

"We are well equipped to handle large demonstrations and First Amendment activities," including the right to assemble, Bowser said.

Trump reiterated on Friday that authorities need to "dominate the streets," and has been unapologetic about the deployment of forces.

And on Twitter, he lashed out at Bowser, calling her "incompetent" and saying the National Guard had saved her from "great embarrassment."

Senator Mike Lee of Utah accused Bowser of evicting Utah National Guard members from area hotels.

She replied: "DC residents cannot pay their hotel bills. The Army can clear that up with the hotel today, and we are willing to help."

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News Network
February 4,2020

New Delhi, Feb 4: Leader of Congress in Lok Sabha, Adhir Ranjan Chowdhury, on Tuesday attacked the BJP over Anantkumar Hegde's controversial remark on Mahatma Gandhi and termed the party as "Ravan ke aulad" (children of Ravana). "Aaj ye Mahatma Gandhi ko gaali dete hain. Ye Ravan ke aulad hain. Ram ke pujari ka ye apmaan kar rahe hain (Today, they abuse Mahatma Gandhi. They are children of Ravan. They are insulting Lord Ram's devotee)," Chowdhury said.

Later, BJP lawmakers object to Chowdhury's statement. Hegde, who is a Lok Sabha MP from Uttara Kannada, had on Saturday said that the freedom struggle led by Mahatma Gandhi was a "drama".

"None of these so-called leaders were beaten up by the cops even once. Their independence movement was one big drama. It was staged by these leaders with the approval of the British. It was not a genuine fight. It was an adjustment freedom struggle," Hegde had said while addressing a public event in Bengaluru. While several Congress leaders, including Karti Chidambaram and BK Hariprasad, have condemned Hegde's remark, BJP leaders too have distanced themselves from it.

Top leadership in BJP is unhappy with Anantkumar Hegde over his controversial remark on Mahatma Gandhi, party sources had said on Monday, adding that he has been asked to issue an unconditional apology.

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January 3,2020

Dhaka, Jan 3: Bangladesh's paramilitary force chief said on Thursday that a total of 445 Bangladeshi nationals returned from India in last two months following the publication of the National Register of Citizens (NRC) by the Indian government.

Border Guard Bangladesh (BGB) Director General Maj Gen Md Shafeenul Islam disclosed the figure during a press briefing here.

"About 1,000 people were arrested in 2019 for illegal border crossings from India to Bangladesh, with 445 of them returning home in November and December," he said.

After verifying their identities through local representatives, BGB came to know that all the intruders are Bangladeshis, Islam said, adding that 253 cases were lodged against them for illegal trespass, while initial investigations found that at least three of them were human traffickers.

The BGB Director said the trespassing did not create any tension between the border forces of Bangladesh and India.

Last week, Islam visited India where he said that the creation of the NRC is completely an "internal affair" of India and the cooperation between the border guarding forces of the two countries is very good.

He said the BGB will continue to do its work of preventing illegal border crossings as per its mandate.

A BGB delegation, led by Islam, was on a bilateral visit to India to hold DG-level border talks with its counterparts, the Border Security Force (BSF).

The talks took place from December 26-29, during which a host of issues related to cross-border smuggling and activities of criminals and others along the 4,096-km-long front were discussed.

Responding to a question, Islam said, "No discussion was held at the conference over the (NRC) issue".

He said during the five-day talks held in New Delhi, the BGB demanded that the BSF should take effective steps to prevent killings of Bangladeshis on frontiers as casualty figures sharply rose in 2019.

"The number of border killings in 2019 was highest in the last four years. As per our calculation, the number of such unexpected deaths was 35," the BGB chief said.

However, the BSF estimate of the casualty figure is much lower than our calculation, he said.

Islam said the BSF is following the policy of maintaining maximum restraint and minimal use of force even after being attacked by "armed border offenders".

A statement issued by the BSF last month in New Delhi after the conclusion of the DG-level talks said, "On the concern of the BGB regarding the death of Bangladeshi nationals on borders, it was informed to them that a non-lethal weapon policy is strictly followed by BSF personnel on borders.

"Firing is resorted to only in self-defence, when BSF patrols are gheraoed and attacked by ‘dah’ (a sharp-edged weapon) etc. It was specified that the BSF does not discriminate between criminals based on nationality," it said.

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