Rain wreaks havoc in Himachal, Punjab; 8 dead

Agencies
September 24, 2018

New Delhi, Sept 24: Incessant showers triggered flash floods and landslides in the hill states of northern India with at least eight people killed on Monday in rain-related incidents in Jammu and Kashmir, Himachal Pradesh and Haryana.

In the wake of heavy rains, a "red alert" was issued in Punjab where educational institutes have been ordered to remain closed on Tuesday. Schools have also been closed in Doda district of Jammu and Kashmir and in most places of Himachal Pradesh.

Heavy rains led to landslides which blocked the roads to Badrinath, Kedarnath and Yamunotri, affecting the Chardham Yatra, while traffic snarls were witnessed in the national capital due to waterlogging following downpour.

The Punjab government has asked district authorities to maintain vigil to avert any untoward situation due to heavy rains, an official said.

Punjab has been witnessing widespread rain for the last two days and the downpour continued Monday, prompting state authorities to review preparations to tackle flood-like situations.

The Army has been asked to remain on alert to help Punjab deal with any eventuality arising out of the situation, an official spokesperson here said in a release. The DCs have been asked to identify hotspots with clear evacuation and relief plans ready before hand, the spokesperson said.

Incessant rains in Punjab and Haryana could cause damage to kharif crops and dip in their yield, farm experts said.

In Haryana's Ambala, a 45-year-old man died when the roof of his home collapsed due to heavy rains, police said.

Torrential rains triggered flash floods in Himachal Pradesh, sweeping away a man and a girl in Kangra and Kullu districts, respectively. A "high alert" has been sounded for Kullu district.

Several houses were also swept away in flash floods as the Beas is flowing at a dangerous level, HP forest minister Govind Singh Thakur said, cautioning people against going near rivers and nullahs.

An Indian Air Force team had rescued, with the help of a chopper, 21 people stranded due to flash floods at Dobi in Kullu district in the last 48 hours.

BJP MP from Hamirpur Anurag Thakur said, "So far, 126 roads have been affected by landslides triggered by rains and news of the loss of lives are too pouring in from many places."

People residing in low-lying areas, especially in Kangra, Chamba, Kullu and Mandi districts, are being evacuated, officials said.

In Chamba, the Ravi river is still flowing at a dangerous level and people are being evacuated from low-lying areas by the administration since Sunday, superintendent of police Monica Bhutunguru said.

Issuing a flood warning, the Bhakra Beas Management Board (BBMB) said excess water from the Pong Dam would be released due to high-pattern inflows in the Pong reservoir due to heavy rain in catchment areas.

In Uttarakhand, most of the places including state capital Dehradun received showers with around 45 rural roads blocked in these districts, the state emergency operation centre said.

Heavy rains lashed several parts of the national capital, causing waterlogging and traffic snarls on major intersections in the city.

In Jammu and Kashmir, five members of a family, including three minors, were killed on Monday when their house was buried under debris after a landslide in the Doda district, while 29 people stranded in Kathua district after flash floods were rescued.

Doda and other parts of Jammu region have been lashed by incessant rain over the past two days.

"A total of 29 persons, including six women and 10 children, were rescued from various flood-hit areas of Kathua district during overnight operations," a police officer said.

With improvement in weather, authorities Monday morning opened the 270-km Jammu-Srinagar national highway for traffic.

Multiple landslides and shooting stones from a hillock along the highway between Ramban and Udhampur districts had blocked the arterial road since Sunday morning.

According to the Meterological department, heavy to very heavy rain is expected at isolated places in Arunachal Pradesh, Assam, Meghalaya, western Uttar Pradesh, Uttarakhand, Haryana, Chandigarh, Delhi and Himachal Pradesh.

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News Network
April 16,2020

Thiruvananthapuram, Apr 16: Seven fresh cases of COVID-19 were reported from Kerala on Thursday, taking the total number of active cases to 147 in the state,even as over 88,000 people are under observation.

On Wednesday, only one positive case had been reported, thelowest in weeks.

While Kannur reported four cases, two were from Kozhikode and one from Kasaragod, Chief Minister Pinarayi Vijayan told reportershere.

Five of those affected had come from abroad, while two have got it through contact with infected people.

Samples of 27 people, including 24 from the worst affected Kasaragod, have turned negative on Thursday.

He said 394 coronavirus cases have so farbeen detected from the state.

Over 80,000 people are under observation, including 532 in various hospitals.

Vijayan said 17,400 samples have been sent for testing of which 16,459 have returned negative.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

Comments

SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
June 19,2020

New Delhi, Jun 19: RJD and AAP were not invited to the all-party meeting called by Prime Minister Narendra Modi on Friday to discuss the situation at the India-China border after 20 Indian soldiers were killed in a "violent face-off," leaving the parties fuming.

Top RJD leader Tejashwi Yadav criticised the government for not inviting the party to the meeting, asking on Twitter late Thursday night, "Just wish to know the criteria for inviting political parties for tomorrow's (Friday's) all-party meet on Galwan Valley. I mean the grounds of inclusion/exclusion. Because our party hasn't received any message so far."

AAP's Rajya Sabha leader Sanjay Singh joined the chorus, "there is a strange ego-driven government at the centre. AAP has a government in Delhi and is the main opposition in Punjab. We have four MPs. But on a vital subject, AAP's views are not needed? The country is waiting for what the Prime Minister will say at the meeting."

Sources said the government has set a criteria to invite only parties with five or more MPs in Parliament for the digital meet, where the Prime Minister will brief the top leaders of parties and hear their views on the way ahead. There are at least 27 parties in the Parliament, which have less than five members, while 17 have more than five members or more than five MPs.

Interestingly, RJD has five MPs in Rajya Sabha and its senior MP Manoj K Jha shared the Rajya Sabha website link on Twitter, which showed the party has five MPs. "We have not been invited and the government's bogus argument has been exposed," Jha said.

CPI leaders said General Secretary D Raja received a call from Defence Minister Rajnath Singh inviting him to the meeting and with a message that the Prime Minister's Office would coordinate but there was no follow-up after that.

"Exclusion of AAP and RJD in the all-party meet on a National debate does not augment well. AAP is ruling Delhi and has its CM. Why should people of Delhi be kept out in such an important debate on National integrity and Sovereignty?" former NCP MP Majeed Memon tweeted.

During the all-party meeting on COVID-19 too, the government had not called all parties with representation in Parliament to the all-party meeting in April and had set five MPs as a benchmark to be invited.

Raja had then written a letter to Modi demanding that the government should not get into "technicalities" and discuss the issue with all parties in Parliament.

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