Cricket- a ray of hope for Syrian refugees

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

New Delhi, Jun 3: Shuttler HS Prannoy has hit out at the Badminton Association of India (BAI) and has questioned the selection criteria for the Arjuna Award.

The shuttler has said that the players who have won nothing have been recommended, while the players who have medals to their credit have been snubbed.

His remarks come as BAI recommended doubles pair of Satwiksairaj Rankireddy and Chirag Shetty and men's singles player Sameer Verma for the Arjuna Award on Tuesday.

"Same old story. Guy who has Medals in CWG and Asian Championships not even recommended by Association. And guy who was not there on any of these major events recommended #waah #thiscountryisajoke," Prannoy tweeted.

Prannoy had been left out from the list last year as well and the shuttler had slammed the criteria then as well.

"If you ever want your name in the awards list, make sure you have people who will get your name to the list. Performance is least considered in our country. Sad state of our county but can't help it. Let go and just play until you can," Prannoy had tweeted last year.

Prannoy had won the mixed team gold at the 2018 Commonwealth Games in Gold Coast and he also has a men's singles bronze medal at the 2018 Asian Championships.

On Tuesday, the BAI has also recommended the renowned National Institute of Sports (NIS)-certified coaches, S. Murlidharan and Bhaskar Babu for the Dronacharya Award.

Murlidharan has been working relentlessly for the growth and development of the sport in Kerala, besides being an able administrator.

He has coached the likes of Vimal Kumar, Rupesh Kumar and Sanave Thomas amongst many other renowned former players.

He has also been a recipient of the Meritorious Service Award given by the Badminton World Federation (BWF) in 1996.

For the Dhyanchand Award, BAI has recommended the names of Pradeep Gandhe and Manjusha Kanwar.

Gandhe is a two-time Asian Games bronze medallist while Manjusha is a South Asian Games silver medallist.

Mar 7: Two Malayalam news channels, Asianet News and Media One, which were banned by the information and broadcasting ministry for their coverage of the recent violence in Delhi on Friday evening, were allowed to resume telecasting on Saturday morning.

While Asianet News appeared to have begun operations around 7am on Saturday, Media One was screening content by 9.30am.

The ministry of information and broadcasting had imposed a 48-hour ban on Asianet News and Media One for their coverage of the Delhi violence for 48 hours from 7.30pm on Friday. Both Asianet News and Media One were barred under Rule 6(1 c) and Rule 6(1e) of the Cable Television Networks Act, 1994.

The ministry of information and broadcasting alleged Asianet News and Media One were "biased" and critical of the RSS and Delhi Police.

The ban on Asianet News and Media One triggered a torrent of criticism of the move. Congress MP Shashi Tharoor asked how "Malayalam channels inflame communal passions in Delhi?" and alleged some English news channels were continuing "their brazen distortions" with impunity.

In a statement issued on Friday after the ban, Media One termed the move "unfortunate and condemnable" and called it a "blatant attack against free and fair reporting". Media One called it "an order to stop free and fair journalism".