Modi,Sharif finally greet after cold vibes

November 28, 2014

modi shariefKathmandu, Nov 28: On the last day of the 18th South Asian Association for Regional Cooperation (Saarc) summit here, Prime Minister Narendra Modi and his Pakistani counterpart Nawaz Sharif shook hands and exchanged pleasantries.

New Delhi, however, was quick to point out that Modi’s handshake with Sharif should not be construed as a signal of India’s willingness for an early restart of the stalled bilateral dialogue with Pakistan. “India is for peaceful and cooperative relation with Pakistan. We are interested in meaningful dialogue. If this interaction today (Thursday) or this handshake leads to that, we would welcome that,” Ministry of External Affairs spokesperson Syed Akbaruddin told journalists in Kathmandu shortly after the summit concluded. “The emphasis, however, is on meaningful dialogue,” he added.

Nepal Prime Minister Sushil Koirala and leaders of other south Asian nations looked on smilingly, as Modi and Sharif, who completely avoided each other during the inaugural ceremony on Wednesday, not only greeted each other, but also chatted briefly and shook hands. The day also saw signing of the Saarc Framework Agreement for Energy (Electricity) Cooperation.

Even before the public display of cordiality, Modi and Sharif warmed up to each other at a retreat in the backdrop of the majestic Himalayas in Dhulikhel, a hill town nearly 30 km south-east of Kathmandu.

As Koirala led other Saarc leaders to the terrace to enjoy the picturesque landscape, Modi and Sharif were seen standing close to each other, soaking in the pristine environs. Modi and Sharif also shook hands and exchanged greetings at an informal meeting and chatted while having lunch with leaders of the six other south Asian nations.

The retreat also provided an opportunity to the leaders to have a candid discussion, which succeeded in ending the impasse over one of the three agreements proposed to be signed during the summit.

Modi and other leaders succeeded in persuading Sharif to approve the Saarc Framework Agreement for Energy (Electricity) Cooperation.

Later, as Koirala declared the summit closed, Modi found himself surrounded by President Mahinda Rajapaksa of Sri Lanka, President Ashraf Ghani of Afghanistan, President Abdulla Yameen Abdul Gayoom of Maldives, Prime Minister Tshering Tobgay of Bhutan and Prime Minister Sheikh Hasina of Bangladesh, as they all came to greet him.

Sharif, who was on the other end of the podium, too, joined later and extended his hand to Modi.

On Modi’s invitation, Sharif had attended the swearing-in ceremony of the new government at Rashtrapati Bhavan on May 26. They also had a meeting the next day and decided to explore possibilities of restarting the dialogue that New Delhi had suspended in January 2013.

The foreign secretary-level dialogue with Islamabad was later called of to protest Pakistan’s consultation with Kashmiri separatist leaders before holding official parleys with India.

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News Network
January 7,2020

New Delhi, Jan 7: The Delhi Police has filed an FIR against JNUSU president Aishe Ghosh and 19 others for allegedly attacking security guards and vandalising the server room of the Jawaharlal Nehru University (JNU) on January 4.

The police registered the FIR on January 5.

In the complaint filed by the JNU administration, the University alleged that the accused were involved in physical violence and pushed the women guards, verbally abused them and threatened them of dire consequences if they opened the lock of university's communication and information (CIS) office.

"They illegally trespassed the University property with the criminal intention to damage the public property. They damaged servers and made it dysfunctional. They also damaged fiber optic power supplies and broke the biometric systems inside the room," the University officials alleged.

This incident allegedly occurred a day before Aishe Ghosh, other JNU students and teachers were attacked by a masked mob inside the campus.

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News Network
February 11,2020

New Delhi, Feb 11: The government has decided to rename National Institute of Financial Management (NIFM), Faridabad, as Arun Jaitley National Institute of Financial Management, an official statement said on Tuesday.

Set up in 1993 as a registered society under the Department of Expenditure, NIFM trains officers of Finance and Accounts Services recruited by the Union Public Service Commission (UPSC) as also officers of Indian Cost Accounts Service. The Union Finance Minister is the President of the NIFM Society.

"Aligning the vision and aspiration of the Institute for the future with the vision and contribution of late Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management(AJNIFM)," the statement said.

NIFM has become a premier resource centre to meet the training needs of the central government for senior and middle level of management in the fields of public policy, financial management, public procurement and other governance issues for promoting highest standards of professional competence and practice.

Padma Vibhushan awardee Jaitley was the Union Minister for Finance and Corporate Affairs during May 26, 2014 to May 30, 2019.

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News Networkwork
May 14,2020

Bengaluru, May 14: ABB India has posted a profit after tax of Rs 66 crore during the first quarter (January to March) due to lower volumes including service revenue and unfavourable mix.

In Q1 CY19, it had reported a profit after tax of Rs 89 crore. ABB India follows calendar year as its fiscal year.

The company reported a profit including exceptional items and before tax of Rs 87 crore. The resultant under-absorption and mark-to-market impact due to forex volatility were partly offset by refund incomes and a one-time gain on sale of solar business during the quarter.

Revenues for the first quarter stood at Rs 1,522 crore, impacted by lower sales, non-receipt of delivery clearance, lower service revenue in the nationwide lockdown due to the COVID-19 pandemic. This impact primarily occurred in March, the company said in a statement.

ABB India said it continues to maintain a stable cash position of Rs 1,464 crore as on March 31 in a market where cash collection continues to be a challenge.

Besides, despite many activities coming to a standstill in March, the quarter was marked by commissioning for a mining major at Raigarh in Chhattisgarh, electrical and automation systems for a cement major and port and electrics, drives and automation for a leading mill in Bangladesh.

Terminal installation and commissioning for LPG, power management electrical control system for a leading refinery and commissioning of two units of a power plant in Kerala are some of the other projects where ABB's involvement ensured continuity and safe operations, it said.

On a global scale, the impact of COVID-19, as well as the fall in oil prices, has significantly impacted the short-term outlook. The global economy is expected to contract in 2020 after a rapid deterioration in outlook driven by the pandemic.

Despite unprecedented stimuli by governments and central banks around the world and initial signs of recovering economic activity in China, macro-indicators point to a global recession of uncertain duration as many countries continue to face restrictions with anticipated long-term economic consequences, said ABB India.

While the company is taking prompt action to adapt its operations and cost base to safeguard profitability, it expects the results in the coming quarter to be impacted due to the loss of volumes.

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