Cong demands PM Modi’s apology for ‘insulting’ Bengaluru

Agencies
May 5, 2018

New Delhi, May 5: The Congress today accused Prime Minister Narendra Modi of "insulting" Bengaluru and the people of Karnataka by calling it a "valley of sins" and demanded his apology for his "deplorable" remarks.

Congress chief Rahul Gandhi described Bengaluru as the garden city and the pride of India and said calling it a "garbage city" is "insulting".

"Building lies comes naturally to you, but you seem to find building cities very difficult. The data nails your lies," he said on Twitter, targeting the prime minister.

"Cosmopolitan, innovative and historic, beautiful Bengaluru, India’s pride, is the world’s most dynamic city!," he said in another tweet, adding that his government is committed to investing Rs 1 lakh crore to further develop Bengaluru and other cities in Karnataka.

Congress spokesperson Abhishek Singhvi said that as the Karnataka assembly election approaches, "the fears, frustration and follies of the BJP grow due to its impending defeat and this is reflected in the idioms and the language used by its leaders including the prime minister".

He also accused Modi of spreading "divisiveness" in the poll-bound state and alleged that such language was being used to divert the public attention from key issues such as the Cauvery water dispute, the dilution of the Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, joblessness and declining economy.

Singhvi said the prime minister failed to be the custodian of federal cooperation and maintain equilibrium between Karnataka and Tamil Nadu in the Cauvery river water-sharing dispute.

"You accuse Bengaluru, the Kannadiga of being a ‘valley of sin'. I think it is shameful and I think the country needs an apology which I am sure we will never get from the prime minister," he told reporters.

"As you see the heat mounting up on this campaign, you find the defamatory, the criminally culpable statements coming, deliberately inflaming and inciting communal passions, deliberately polarising communities, religious and groups and comprising blatant falsehood," he alleged.

The Congress leader said the country's prime minister lacked his grasp of the country's history as was evident from his yesterday's "false and superficial" statements on Field Marshal K C Cariappa and General K S Thimayya.

"The prime minister in his insatiable urge bordering on greed to attack the Congress party actually ended up insulting comprehensively the people of Karnataka, insulting each and every one of its entrepreneurs, insulting each and one of its IT technologists and labelling Bengaluru as the ‘valley of sin' from the Silicon Valley," he said.

"This is SIN - a ‘Special Insult. ‘S' for special and IN for insult which the prime minister of the country has heaped upon Bengaluru and the people of Karnataka," he said.

Describing Bengaluru as a birthplace of IT giants, a technological hub, a start-up hub, he said, "The prime minister has ignored the ‘S' for superior, the ‘I' for Information Technology and ‘N' for Novelty and calls it ‘SIN'."

He said, "The prime minister ignores the ‘S' for Super Highway which Bengaluru and its IT industry are and ignores the ‘I' for IT and the ‘N' for Network. He only finds 'SIN' and that is "deplorable" as he is unable to create jobs and stop farmer suicides, and instead accuse Bengaluru, the ‘Kannadiga' of being a ‘Valley of Sin'."

"The higher the divisiveness factor, the higher goes the BJP's decibel. Their decibel is linked to divisiveness. Why it is - to digress and draw the attention of the people of Bengaluru and Karnataka away from their failures in one day yesterday," he alleged.

In a full-scale attack on the Siddaramaiah government in Karnataka on city-related issues, Prime Minister Narendra Modi yesterday accused it of having turned Bengaluru into a "garbage city and valley of sin" from "Silicon Valley." 

Comments

MR
 - 
Sunday, 6 May 2018

All the perfumes in Arabia cannot wash away the sins Modi alone has committed.

People of Karnataka will give him a fitting reply by voting for Congress!

 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 29,2020

Karachi, Jun 29: Four heavily-armed militants attacked the busy Pakistan Stock Exchange on Monday morning, killing four security guards and a police sub-inspector before being shot dead in an exchange of fire, media reports said.

The unidentified militants opened indiscriminate fire and lobbed hand grenades at the main gate of the building as they tried to storm it, Geo News reported.

Police said that all the terrorists have been killed while five persons injured in the attack.

Four security guards and a police sub-inspector were also killed in the attack.

"An unfortunate incident took place at the Pakistan Stock Exchange. They made their way from our parking area and opened fire on everyone," said Abid Ali Habib, Director of Pakistan Stock Exchange.

The firing by militants caused panic among the people in the building.

Sindh province Governor Imran Ismail condemned the incident.

"Strongly condemn the attack on PSX aimed at tarnishing our relentless war on terror. Have instructed the IG & security agencies to ensure that the perpetrators are caught alive & their handlers are accorded exemplary punishments. We shall protect Sindh at all costs," he said on Twitter.

Police and rangers have arrived on the spot and surrounded the area.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 12,2020

Washington, Jan 12: US president Donald Trump said Saturday the United States was monitoring Iranian demonstrations closely, warning against any new “massacre” as protests broke out after Tehran admitted to shooting down a passenger plane.

Iran said earlier it unintentionally downed a Ukrainian jetliner outside Tehran, killing all 176 people aboard, in an abrupt about-turn after initially saying that it had crashed due to mechanical failure. The firing came shortly after Iran launched missiles at bases in Iraq housing American forces.

President Hassan Rouhani said a military probe into the tragedy had found that “missiles fired due to human error” brought down the Boeing 737, calling it an “unforgivable mistake.”

Trump told Iranians -- in tweets in both English and Farsi -- that he stands by them and is monitoring the demonstrations.

“To the brave, long-suffering people of Iran: I've stood with you since the beginning of my Presidency, and my Administration will continue to stand with you,” he tweeted.

“There can not be another massacre of peaceful protesters, nor an internet shutdown. The world is watching,” he added, apparently referring to an Iranian crackdown on street protests that broke out in November.

“We are following your protests closely, and are inspired by your courage," he said.

The new demonstrations follow an Iranian crackdown on street protests that broke out in November. Amnesty International has said it left more than 300 people dead. Internet access was reportedly cut off in multiple Iranian provinces ahead of memorials planned a month after the protests.

On Saturday evening, police dispersed students who had converged on Amir Kabir University in Tehran to pay tribute to the victims, after some among the hundreds gathered shouted "destructive" slogans, Fars news agency said.

State television reported that students shouted "anti-regime" chants, while the news agency Fars reported that posters of Soleimani had been torn down.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.