Kishanganga dam dispute: World Bank asks Pakistan to accept India’s demand

Agencies
June 5, 2018

New Delhi, Jun 5: The World Bank has asked Pakistan to accept an offer by India to appoint a neutral expert over the dispute over Kishanganga dam, which was inaugurated recently by Prime Minister Narendra Modi. According to Pakistan-based Dawn News, the World Bank has asked Pakistan to climb down from the demand of taking up the issue with the International Court of Arbitration (ICA).

In May, a high-powered Pakistani delegation led by Attorney General Ashtar Ausaf Ali, met with Kristalina Georgieva, World Bank Chief Executive Officer, and the regional management for South Asia.

During the meetings, held at Pakistan’s request to discuss issues regarding the Indus Waters Treaty and opportunities within the treaty to seek an amicable resolution, “several procedural options” for resolving the disagreement over the interpretation of the treaty’s provisions were discussed, the bank had said.

“While an agreement on the way forward was not reached at the conclusion of the meetings, the World Bank will continue to work with both countries to resolve the issues in an amicable manner and in line with the treaty provisions,” the Bank had said in a statement at the end of the talks.

Prime Minister Narendra Modi had in May inaugurated the 330 MW Kishanganga hydroelectric project in Jammu and Kashmir. Pakistan had protested the inauguration claiming that the project on a river flowing into Pakistan will disrupt water supplies.

The project, located at Bandipore in North Kashmir, envisages diversion of water of Kishan Ganga river to underground power house through a 23.25-km-long head race tunnel to generate 1713 million units per annum.

The Kishanganga project was started in 2007 but on May 17, 2010, Pakistan moved for international arbitration against India under the provisions of the Indus Waters Treaty.

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News Network
May 9,2020

May 9: Two more companies are said to be eyeing stakes in Reliance Jio Platforms, the $65-billion digital unit of Mukesh Ambani-controlled Reliance Industries, suggests a Bloomberg report. If these deals materialise, they would add to a growing list of firms that have recently invested in the Indian company.

US private equity firm General Atlantic was considering investing about $850 million to $950 million in the Mumbai-based company, a Bloomberg report said, citing people with knowledge of the matter.

The deal could be completed as soon as this month, though no agreement had been finalised and plans may change, it added.

Saudi Arabia's Public Investment Fund (PIF) is also considering to buy a minority stake in Jio, Bloomberg said in a separate report.

General Atlantic declined to comment on the report, while Jio and PIF did not immediately respond to Reuters request for comment. Hours earlier on Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks.

The conglomerate cut a $5.7 billion deal with Facebook for a 9.99 per cent stake in Jio on April 22 and a few days later, it secured a $750 million investment from private equity firm Silver Lake.

Together the three deals will inject a combined $8 billion in the telecoms-to-energy group and help it pare its debt.

Vista's investment gave Jio an equity value of Rs 4.91 trillion ($65 billion) and an enterprise value of Rs 5.16 trillion, said Reliance, controlled by billionaire tycoon Mukesh Ambani.

The potential investments from New York-based General Atlantic and the Saudi sovereign wealth fund, which manages over $300 billion in assets, would inject money on top of the $8 billion which Jio has already raised.

Saudi's PIF has been buying minority stakes several companies. Last month, it disclosed an 8.2 per cent stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares up nearly 30 per cent higher.

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Agencies
August 3,2020

New Delhi, Aug 3: President Ram Nath Kovind and Prime Minister Narendra Modi on Monday extended warm greetings and good wishes to the countrymen on the occasion of Rakshabandhan.

The President in his message said, "Greetings on Raksha Bandhan! Rakhi is the sacred thread of love and trust that connects sisters with brothers in a special bond. On this day, let us reiterate our commitment to secure the honour and dignity of women."

"Many wishes to all the countrymen on the auspicious occasion of Rakshabandhan," Prime Minister Modi tweeted in Hindi.

Rakshabandhan, which is being celebrated today, is a celebration of the unique bond between brothers and sisters. Tying of the Rakhi by sisters, symbolises love, affection and mutual trust between brothers and sisters. 

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News Network
June 16,2020

New Delhi, Jun 16: Delhi Health Minister Satyendar Jain on Tuesday said that he has been hospitalised after suffering from high-grade fever and a sudden drop in his oxygen level.

He tweeted to inform that he was admitted to the Rajiv Gandhi Super Speciality Hospital (RGSSH) here, a dedicated COVID-19 facility under the Delhi government.

"Due to high-grade fever and a sudden drop of my oxygen levels last night I have been admitted to RGSSH. Will keep everyone updated," Jain tweeted.

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