Protests erupt in Iran over high cost of living

Agencies
December 30, 2017

Hundreds of protesters have rallied in several Iranian cities against rising prices, unemployment and economic inequality, according to anti-government activists and Iran's semi-state news agency Fars.

About 300 people protested in Kermanshah, a city in western Iran, on Friday, according to Fars.

Police intervened after protesters damaged public property, the news agency reported.

Protests also broke out in the capital Tehran, according to social media.

The protests came after an earlier demonstration in Mashhad, Iran's second-largest city, on Thursday drew "thousands" of residents, anti-government activists said on social media.

Rallies were also held in a handful of other cities to decry rising food prices and other economic issues.

The prices of several staples, including eggs, have risen by up to 40 percent in recent days, the Associated Press news agency said.

Eshaq Jahangiri, Iran's first vice president, acknowledged that "there is an increase in the prices of some products", but said "the government is working on fixing the causes of the high prices".

Jahangiri also cast doubt on whether the protests were solely motivated by economic issues.

"The people behind what is taking place think they will be able to harm the government, but when social movements and protests start in the street, those who have ignited them are not always able to control them," he said.

High unemployment

In August, the Iranian Central Bank said inflation had reached 10 percent, the Tehran Times newspaper reported at the time.

The unemployment rate reached a three-year high of 12.7 percent last year, according to the World Bank.

Adnan Tabatabai, a political analyst and co-founder of the Germany-based Center for Applied Research in Partnership with the Orient, wrote on Twitter that the protests "are driven by socioeconomic grievances, not political aspiration".

"Peaceful sit-ins, strikes & gatherings in front of ministries & state institutions have happened regularly in various parts of the country, as people continue to have unresolved/unaddressed economic grievances," Tabatabai wrote.

Still, the protests have also been conspicuous for their anti-government slogans.

On social media, anti-government activists said protesters had chanted for the release of political prisoners, while others reportedly shouted, "Death to Rouhani", referring to Iranian President Hassan Rouhani, said news agency.

Rouhani, who was re-elected to a second term in May, has been under pressure from his conservative opponents inside Iran over perceived efforts to liberalise the country.

Tabatabai, the political analyst, said he did not believe the protests were the start of a revolutionary movement in Iran.

Instead, he wrote on Twitter that they signal that Rouhani, his government and Iran's political elite as a whole "must finally take [the] socioeconomic grievances" of ordinary Iranians seriously.

Videos of the protests in Mashhad, published by small reformist media group Nazar, showed people shouting "not Gaza, not Lebanon, my life for Iran", AFP reported.

The slogan reflects anger that the Iranian government is focusing on regional politics at the expense of tackling domestic issues.

Iran's semi-official news agency ILNA reported that about 50 people also protested in a public square in the capital, Tehran, on Friday, AP reported.

Mohsen Hamedani, the security deputy for Tehran's governor, said a few people were "temporarily arrested", but did not specify how many, said the news agency report.

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Agencies
May 17,2020

New Delhi, May 17: Eight of the 10 most valued domestic firms suffered a combined erosion of Rs 1,37,311.31 crore in market valuation last week, with Reliance Industries (RIL) taking the biggest knock.

Only Bharti Airtel and ITC from the top-10 list managed to close the week with gains.

RIL's market cap plunged Rs 65,232.46 crore to Rs 9,24,855.56 crore.

The market valuation of HDFC Bank declined Rs 22,347.07 crore to Rs 4,87,083.88 crore and that of Hindustan Unilever Limited tanked Rs 13,192.26 crore to Rs 4,77,458.89 crore.

ICICI Bank's market cap dropped Rs 9,770.06 crore to Rs 2,08,900.79 crore.

Infosys witnessed a decline of Rs 9,518.84 crore in valuation to reach Rs 2,77,814.09 crore while that of HDFC tumbled Rs 9,370.38 crore to Rs 2,83,293.70 crore.

The m-cap of Kotak Mahindra Bank slipped by Rs 7,805.2 crore to Rs 2,25,327.22 crore.

Tata Consultancy Services' market valuation dipped Rs 75.04 crore to Rs 7,10,439 crore.

In contrast, Bharti Airtel added Rs 13,147.89 crore to its valuation to stand at Rs 3,02,292.43 crore.

ITC's valuation also rose by Rs 7,744.11 crore to Rs 2,02,330.13 crore.

In the ranking of top-10 firms, RIL retained the number one spot, followed by TCS, HDFC Bank, HUL, Airtel, HDFC, Infosys, Kotak Mahindra Bank, ICICI Bank and ITC.

During the last week, the Sensex declined 544.97 points or 1.72 per cent.

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Agencies
May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

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JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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May 18,2020

New Delhi, May 18: Very severe cyclonic storm ‘Amphan’, over central parts of South Bay of Bengal, has intensified into extremely severe cyclonic storm, the India Meteorological Department (IMD) said on Monday. The weather department has warned that ‘Amphan’ may turn into a “super cyclonic storm’.

According to experts, North Odisha coast will face the maximum impact of cyclone Amphan when it makes landfall.

“Wind speed expected to be 110-120 kmph, gusting up to 130 kmph. Balasore, Bhadrak, Jajpur, Mayurbhanj dist can be affected on 20 May (when it makes landfall), IMD Bhubaneswar scientist Umashankar Das told news agency ANI.

The IMD has said that ‘Amphan’ will cross West Bengal - Bangladesh coasts between Digha (WB) and Hatiya island - in the afternoon/evening of May 20 as very severe cyclonic storm.

Earlier, the IMD had warned that ‘Amphan’, over central parts of South Bay of Bengal, will intensify into an extremely severe cyclonic storm on Monday.

“Very Severe Cyclonic Storm (VSCS) ‘AMPHAN’ over central parts of South Bay of Bengal near latitude 12.5°N and longitude 86.4°E, about 870 km nearly south of Paradip (Odisha). To intensify further into an Extremely Severe Cyclonic Storm (ESCS) in the next six hours,” the IMD said in a tweet on Monday.

National Disaster Response Force (NDRF) has sent its 10 teams to Odisha and seven teams to West Bengal in view of the approaching Cyclone Amphan, news agency reported.

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