I'm a Hindu but am a great student of Islam. We forget the Prophet urged people to read'

January 2, 2013

jetmalini

I'M NOT A light reader. I don't read fiction, for instance; only books on philosophy, religion, politics or economics. I was born in a city in the province of Sindh in Pakistan, where I went to the New Era School. My early reading happened there as a child, in the school library. Most of the books were by English authors. I came from an educated family — my father was a lawyer, so was my grandfather and, pardon my impudence, I was quite a bright student. I passed my matriculation at the age of 13. I finished my LLB at the age of 17.

When I was in Class III, I read a whole poem by Sir Edwin Arnold from The Light of Asia, his book about the Buddha. Recently, in my column for the Sunday Guardian, I borrowed a phrase from Arnold that seemed apt. I wrote that this government might survive because of the numbers game, but “the lamp has lost its oil and the wick burns black”. Since Class III, I've read almost everything Arnold wrote. The Song Celestial is his rendering of the Bhagavad Gita. I can recite it from memory even today: “If one ponders on objects of the sense, there springs attraction, from attraction grows desire, desire flames to fierce passion, passion breeds recklessness; then the memory, all betrayed, lets noble purpose go, and saps the mind, till purpose, mind, and man are all undone.”

Books are the best friends a man can have. My book of the year is Salman Rushdie's Joseph Anton. He tells the unvarnished truth, which is what I most liked about it. I'm against all kinds of bans and fatwas. So yes, when the Shiv Sena called for a ban on a book on Shivaji — note, the Shiv Sena, not the BJP — I was against it. It's a matter of principle. I joined the BJP on my own terms. I said to them: “You have no right to change my views; I have the right to change yours.” That is why I'm not a leader of the BJP, only a minor member.

Another book I have enjoyed is Arguably, Christopher Hitchens' collection of essays. And Eric Hobsbawm's superb Age of Extremes. Regrettably, Hobsbawm died this year. He was quite an instructive writer, though a Marxist historian. I'm also a great admirer of Kant and philosophers of law and legality such as Jeremy Bentham. I read a lot of history. I have read all the 11 volumes of Will Durant's The Story of Civilisation. Another one that made a great impression is French historian Amaury de Riencourt's The Soul of India. It's a great, great book, as is The Soul of China.

People who don't read particularly misunderstand philosophy and religion. I'm Hindu, but a great student of Islam. People forget the essence of what Prophet Mohammed taught. What he taught is unrivalled. Nobody has ever taught a thing like that. Remember what the Angel Gabriel told the Prophet in his revelatory dream? “Read, read, read!” The Prophet never went to school, but he understood that what he was meant to communicate to his followers was to go out and seek knowledge. It was the Prophet of Islam who said: “When you walk in search of knowledge, you are walking in the path of God.” He also said, “The ink of a scholar is more valuable than the blood of a martyr.”

Thanks to the present government, no one ensures that real secularism is taught in our schools. Most politicians don't know the 's' of secularism. Gujarat Chief Minister Narendra Modi is much more secular than many in the media or government would have you believe. It would be too much to ask of them to actually read Article 25 of the Constitution. Now there's a new thought: reading to acquire information!

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
May 10,2020

In the wake of the gas leak at a factory in Visakhapatnam, the National Disaster Management Authority (NDMA) has issued detailed guidelines for restarting industries after the lockdown and the precautions to be taken for the safety of the plants as well as the workers.

In a communication to all states and union territories, the NDMA said due to several weeks of lockdown and the closure of industrial units, it is possible that some of the operators might not have followed the established standard operating procedures.

As a result, some of the manufacturing facilities, pipelines, valves may have residual chemicals, which may pose risk. The same is true for the storage facilities with hazardous chemicals and flammable materials, it said.

The NDMA guidelines said while restarting a unit, the first week should be considered as the trial or test run period after ensuring all safety protocols.

Companies should not try to achieve high production targets. There should be 24-hour sanitisation of the factory premises, it said.

The factories need to maintain a sanitisation routine every two-three hours especially in the common areas that include lunch rooms and common tables which will have to be wiped clean with disinfectants after every single use, it added.

For accommodation, the NDMA said, sanitisation needs to be performed regularly to ensure worker safety and reduce the spread of contamination.

To minimise the risk, it is important that employees who work on specific equipment are sensitised and made aware of the need to identify abnormalities like strange sounds or smell, exposed wires, vibrations, leaks, smoke, abnormal wobbling, irregular grinding or other potentially hazardous signs which indicate the need for immediate maintenance or if required shutdown, it said.

At least 11 people lost their lives and about 1,000 others were exposed to a gas leak at a factory in Andhra Pradesh''s Visakhapatnam on May 7.

The incident took place after it restarted operations when the government allowed industrial activities in certain sectors following several weeks of lockdown.

The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the coronavirus threat. The lockdown was then extended till May 3 and again till May 17.

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Agencies
May 14,2020

Social media platform WhatsApp assured the Supreme Court on Wednesday that it will not roll out its payment services without complying with all payment regulations and norms in the country.

A bench headed by Chief Justice S.A. Bobde and comprising Justices Indu Malhotra and Hrishikesh Roy took up the matter through video conferencing. Senior advocate Kapil Sibal, representing the social media platform, said "WhatsApp Inc makes a statement on behalf of his client that they will not go ahead with the payments' scheme without complying with all the regulations in force."

The statement was made during the hearing of a petition seeking a ban on payment through WhatsApp, as it does not conform to the data localization norms. The top court took the assurance made by WhatsApp on record.

WhatsApp made the statement during the hearing of a plea seeking a ban on its payment service, for not being in line with data localization norms.

In 2018, WhatsApp was granted a beta licence to launch its payment service, but a dedicated and separate app is yet to be launched. A petition was moved in the apex court that WhatsApp's existing model for its payments service should be declared inconsistent with the Unified Payment Interface (UPI) Scheme, as a separate dedicated app has not been offered by the company.

The petitioner NGO, Good Governance Chambers, argued that the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) must change its model on the lines of the UPI payment scheme, and its operations may be suspended until these conditions are met.

The apex court today asked the Centre, Facebook and WhatsApp to file their replies within three weeks and it will take up the matter thereafter. The court noted that the government may process the applications filed by WhatsApp in accordance with the law and there is no stay on the same. Facebook was represented by senior advocate Arvind Datar.

The petitioner argued that lapses have been found in relation to WhatsApp's claims of having a secure and safe technological interface for securing sensitive user data.

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