Al-Qaeda 'ideologically inclined' to carry out attacks in India: UN report

Agencies
August 14, 2018

United Nations, Aug 14: Al-Qaeda in the Indian Subcontinent (AQIS), the terror group's newest affiliate, is "ideologically inclined" to carry out attacks inside India but its capability is believed to be low and is relatively isolated owing to increased security measures in the region, according to a UN report.

The 22nd report of the Analytical Support and Sanctions Monitoring Team was submitted to the UN Security Council Al Qaeda Sanctions Committee.

The report said that AQIS is "relatively isolated owing to increased security measures within the wider region, but the group continues to seek security gaps for opportunistic attacks".

The group is "ideologically inclined to carry out attacks inside India but its capability is believed to be low," it said, adding that according to Member States, the strength of AQIS in Afghanistan is estimated at several hundred people, located in Laghman, Paktika, Kandahar, Ghazni and Zabul provinces.

Noting that Al-Qaeda still maintains a presence in South Asia, the report said the terror group adapts to the local environment, trying to embed itself into local struggles and communities and is closely allied with the Taliban.

According to one Member State, although the Islamic State in Iraq and the Levant (ISIL), also known as ISIS, poses an immediate threat, Al-Qaeda is the 'intellectually stronger group' and remains a longer-term threat.

The report added that some members of the Al-Qaeda core, including Aiman al-Zawahiri and son of slain Al-Qaeda leader Osama bin Laden, Hamza bin Laden are reported to be in the Afghanistan-Pakistan border areas.

Other members of the Al-Qaeda core may leave for more secure areas, it said.

The report said that between 20,000 and 30,000 Islamic State fighters remain in Iraq and Syria and among these there is still a significant component of the many thousands of active foreign terrorist fighters.

One Member State reports that some recent plots detected and prevented in Europe had originated from ISIL in Afghanistan. In addition to establishing a presence across Afghanistan, ISIL also attempts to have an impact on other countries in the region.

"According to one Member State, ISIL in Afghanistan is responsible for at least one attack in the Kashmir region,? the report said. However, no details about the attack in Kashmir were given in the report.

The sanctions monitoring team submits independent reports every six months to the Security Council on the Islamic State, Al-Qaeda and associated individuals, groups, undertakings and entities.

The report added that in Afghanistan, ISIL persistently tried to expand its presence, despite pressure from the Afghan National Defence and Security Forces, the international coalition and the Taliban.

ISIL currently has its main presence in the eastern provinces of Kunar, Nangarhar and Nuristan, and is also active in Jowzjan, Faryab, Sari Pul and Badakhshan provinces in the north. The group has the intention to expand into Ghazni, Kunduz, Laghman, Logar and Uruzgan provinces.

"In Kabul, Herat and Jalalabad, ISIL already has sleeper cells and has committed disruptive, high-profile attacks, including against both Government and Taliban targets during the Eid al-Fitr ceasefire," it added.

The report noted that that ISIL has between 3,500 and 4,000 members in Afghanistan, including between 600 and 1,000 in northern Afghanistan (with both numbers on the increase). It is led by Abu Sayed Bajauri who is not listed and the majority of its members and leaders were formerly members of Tehrik-e Taliban Pakistan and it may represent an emerging threat to Central Asian States.

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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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Agencies
January 16,2020

New Delhi, Jan 16: United Forum of Bank Unions has decided to observe a two-day strike on January 31 and February 1, demanding early wage revision settlement which has been due since November 1, 2017, said the All India Bank Employees Association.

Union Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1.

Banks will also hold a strike on March 11, 12 and 13. Also, an indefinite strike will be held from April 1.

General Secretary, All India Bank Officers' Confederation West Bengal Sanjay Das has stated that the nationwide strike has been called over several demands.

"The demands include--wage revision settlement at 20 per cent hike on payslip components with adequate loading thereof and scrapping off New Pension Scheme (NPS)," said Das.

There are several demands to hold the strike including the merger of special allowance with basic pay, updation of pension, improvement in the family pension system, five-day banking, allocation of staff welfare fund based on operating profits and exemption from income tax on retiral benefits without a ceiling.

"Other demands include-- a uniform definition of business hours, lunch hour etc in the branches, introduction of leave bank, defined working hours for the officers and equal wage for equal work for the contract employee," said Das.

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News Network
May 24,2020

New Delhi, May 24: The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report.

According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

"The multiplier effect of the stimulus measures on the economy will depend on three key aspects i.e. the time taken for effecting the withdrawal of the lockdown, the efficacy of implementation and duration of execution of the measures announced," Dun & Bradstreet India Chief Economist Arun Singh said.

The report noted that the government's larger-than-expected stimulus package is likely to re-start economic activities.

Besides, measures taken by the Reserve Bank of India like reducing the repo rate by a further 40 basis points to 4 per cent, extending the moratorium period by three months and facilitating working capital financing will also help stimulate the momentum.

Singh said while the measures announced by the government are "positive", most of them have been directed towards strengthening the supply side of the economy, and "it is to be noted that supply needs to be matched with demand", he said.

Besides, "in the absence of cash-in-hand benefits under the government's stimulus package, demand for goods and services is expected to remain depressed", he added.

He further said the loss in income and employment opportunities, and cautiousness among consumers, will lead to a delayed recovery in consumer demand, even after the pandemic. As debt and bad loan levels increase, the banking sector might face challenges.

The report further noted that even as the monetary stimulus is expected to inject liquidity and stimulate demand for a wider section of the economy, the channelisation of funds from the financial institutions will be subjected to several constraints.

The foremost concern being increase in risk averseness, as the balance sheets of firms, households, and banks/NBFCs have weakened considerably and low demand for funds by firms as production activities have been on a standstill during the lockdown period, Singh said.

India has been under lockdown since March 25 to contain the spread of the coronavirus, resulting in supply disruptions and demand compression.

Prime Minister Narendra Modi imposed a nationwide lockdown to control the spread of coronavirus on March 25. It has been extended thrice, with some relaxations. The fourth phase of the lockdown is set to expire on May 31. 

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