Army destroys 3 terror camps in PoK, six to ten Pakistan soldiers dead

Agencies
October 21, 2019

New Delhi, Oct 21: Six to ten soldiers of the Pakistan Army were killed and three terror camps destroyed in a retaliatory action by the Indian Army opposite the Tangdhar sector in Jammu & Kashmir, Army chief General Bipin Rawat said on Sunday.

Talking to reporters on the sidelines of an event, he said another terror camp was severely damaged in the action by the Indian forces and the retaliation had caused substantial harm to the terror infrastructure across the Line of Control (LoC).

Defence Minister Rajnath Singh was briefed about the retaliatory action, the Army chief said. “Ever since the abrogation of special provisions (for Jammu & Kashmir), we are getting repeated inputs about infiltration by terrorists from across the border,” he added. “So far, according to the information available with us, 6-10 Pakistani soldiers have been killed and nearly as many terrorists,” General Rawat said, adding that more information on terrorist casualty was being obtained.

“Three terror camps have been destroyed and on the fourth one also, we have caused severe damage,” he said.

If Pakistan continued with such activities, the Indian Army would not hesitate to retaliate, the Army chief asserted.

Recently, the Army received information that terrorists were coming closer to camps in the forward areas, General Rawat said.

In the last one month, repeated infiltration attempts were made from the Gurez, Keran, Machil sectors and south of Pir Panjal, he said, adding that Pakistani soldiers were resorting to ceasefire violation to provide support to the infiltration bids by terrorists. “Last evening, an attempt was made in Tangdhar to infiltrate...where we retaliated...Pakistan, at the same time, carried out some firing at the post, in which we did suffer as two of our soldiers got killed and one civilian also died,” General Rawat said. “All this (firing) was done to ensure that they can push in the terrorists,” he said.

General Rawat said terror camps across the border were targeted as the Army had definitive information. “The festival season is approaching, Diwali is round the corner, we had picked up a definitive signal that some of the terror camps north of Pir Panjal were active. Terrorists had arrived in these camps and that they were likely to infiltrate.

Lashing out at Pakistan, General Rawat said the other side was desperate as the first snow had fallen and advised the neighbouring country to “not perpetrate terror in the territory” on the Indian side. “Three days ago, we had foiled an infiltration bid in the Machil sector and recovered a rucksack and other equipment,” he said.

On the artillery action, the Army chief said as of now, there was a kind of "radio silence" on the other side and “we are not even able to pick up any mobile communication from across (the LoC), which implies that there have been casualty, damage, which the Pakistan Army does not want to highlight”.

“They do not want to highlight or project this damage as the world will know that no action had been taken (by them) to curtain the acts of terrorism from across the border. They are trying to keep it under the wraps. But, definitely, as and when we get it, we will provide you with more evidence,” he said.

On the situation in Jammu and Kashmir after the abrogation of Article 370 of the Constitution, which gave a special status to the state, the Army chief said while Indian forces were trying to restore normalcy in the Valley, attempts were being made from elements across the border to disrupt peace.

“Ever since the abrogation of special provisions (for Jammu and Kashmir), we are getting repeated inputs about infiltration by terrorists from across the border,” he added.

“Gradually, things are returning to normal in the valley, but obviously somebody is working behind the scenes, at the behest of terrorists and agencies, some within and some outside Pakistan and PoK, to disrupt the peaceful atmosphere,” he said. Asked if Defence Minister Rajnath Singh was briefed by him on the Tangdhar incident, the Army chief answered in the affirmative. "He (Singh) has been briefed regularly," he said. “The defence minister has regularly been in contact with me on this issue,” General Rawat said.

“As I said earlier, the political leadership and the military are working in close coordination and that is continuing... The political leadership is fully backing us on countering terror in whatever way and no restriction has been put. The mutual consultation goes on regularly,” he added.

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Agencies
February 11,2020

New Delhi, Feb 11: Cheaper lending rates in the country along with the government's booster via tax cuts seem to have had little effect on vehicle sales in January, with car sales decreasing by over 14,531 units, or slightly over 8 per cent, compared to January last year.

According to Rajan Wadhera, President of industry body Society of Indian Automobile Manufacturers (SIAM), which gives out the auto sales numbers, the overall slump in vehicle sales in India was due to the "rising cost of vehicle ownership and slower growth in GDP".

Barring three-wheelers, all other segments showed de-growth.

Vehicle sales across segments have been declining for over a year now. SIAM sales data last month compared with that of January 2019 showed that domestic passenger vehicle sales slipped 6.2 per cent to 262,714 units. The decline in car sales stood at 8.1 per cent, and two-wheelers 16.06 per cent.

Sales of commercial vehicles, an indicator of industrial health in the economy, slipped by 14.04 per cent to 75,289 units last month, while the vehicle sales across categories registered a de-growth of 13.83 per cent to 17,39,975 units from 20,19,253 units in January 2019, SIAM said.

However, Wadhera said, they were hopeful that recent government announcements on infrastructure and rural economy would support growth of vehicle sales, especially in the commercial and two-wheeler segments.

"We are looking forward to the early announcement of an incentive-based scrappage policy in the context of the recent assurances by the government," Wadhera said.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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News Network
June 25,2020

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

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