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SP, BSP announce tie-up sans Congress for Lok Sabha polls, to contest 38 seats each in UP

Agencies
January 12, 2019

Lucknow, Jan 12: Once-arch rivals Samajwadi Party (SP) and Bahujan Samaj Party (BSP) announced Saturday their tie-up in Uttar Pradesh for the 2019 Lok Sabha polls, sharing 38 seats each and keeping the Congress out of the alliance.

The parties, however, said they would not field candidates in Amethi and Rae Bareli, represented by Congress president Rahul Gandhi and UPA chairperson Sonia Gandhi. They also left two seats, out of 80, for smaller allies.

Making the announcement at a joint press conference with SP president Akhilesh Yadav here, BSP chief Mayawati said, "This...will rob 'guru-chela' -- Prime Minister Narendra Modi and BJP president Amit Shah -- of their sleep." 

"I have full confidence that just as our alliance defeated the BJP in the Lok Sabha bypolls, we will crush the saffron party in the general elections," she said, referring to the BJP's defeat in Phulpur, Gorakhpur and Kairana parliamentary bypolls.

Explaining why the Congress was not included in the alliance, she said that during the Congress rule over the years, poverty, unemployment and corruption grew and there had been scams in various defence deals.

She also said that in case of a tie-up with the Congress in the past, the party did not benefit.

"In the past I have seen that our votes get transferred to the Congress, but not vice-versa. We do not gain from alliance with Congress, whereas vote transfer is perfect in SP-BSP tie-up," Mayawati said.

Drawing a parallel between the BJP and the Congress, Mayawati said the Congress had imposed the Emergency while the BJP is responsible for an undeclared Emergency.

The joint press conference was held at a posh hotel here after top leadership of both the parties had met in New Delhi recently to discuss broad parameters of the alliance to take on the BJP unitedly in the Lok Sabha elections.

In 2014, the BJP had won 71 seats in Uttar Pradesh while its ally Apna Dal bagged two. The Samajwadi Party won 5 seats and the Congress two, while the BSP drew a blank. 

Reacting to the development, senior BJP leader and Union minister Ravi Shankar Prasad said, "The SP and BSP have allied neither for the country nor for Uttar Pradesh, but for their survival. They know they cannot fight Modi on their own and their opposition to him is the sole base of their alliance.

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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
February 14,2020

Kochi, Feb 14: A special National Investigation Agency (NIA) court on Friday extended the remand of Thalassery-based students Allan Shuhaib and Thaha Fasal till March 13.

They were arrested under the Unlawful Activities (Prevention) Act in Kozhikode in November 2019.

Meanwhile, Alan Shuhaib has approached the High Court seeking permission to appear for the LLB 2nd semester exam scheduled on February 18.

Kerala Chief Minister Pinarayi Vijayan on February 6 wrote to Home Minister Amit Shah, urging him to transfer the case of the two students, who were arrested for alleged links with Maoists, from the NIA to state police.

Allan and Thaha, students of law and journalism respectively of Kannur University, were taken into custody by the police from Pantheerankavu in Kozhikode on November 1 last year for alleged links with the Naxals.

The duo was charged under Sections 20 (punishment for being a member of terrorist gang or organisation), 38 (offence relating to membership of a terrorist organisation) and 39 (offence relating to support given to a terrorist organisation) of the UAPA.

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News Network
June 1,2020

Jun 1: Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained Sino-U.S. relations and boosted demand for the safe-haven metal, with a weaker dollar lending further support.

Spot gold gained 0.8% to $1,739.75 per ounce by 0242 GMT. U.S. gold futures ticked up 0.1% to $1,752.60.

"Concerns about the unrest in the United States at the moment appear to be weighing on market sentiment," said Michael McCarthy, chief strategist at CMC Markets, adding that rising tensions between the world's top two economies provided further support to gold.

Protesters have flooded the streets in the United States over the death of George Floyd in police custody, in a wave of outrage sweeping a politically and racially divided nation.

The closely packed crowds and demonstrators not wearing masks have sparked fears of a resurgence of COVID-19, which has killed more than 101,000 Americans.

In Asia, China's state media and the government of Hong Kong lashed out on Sunday at U.S. President Donald Trump's pledge to end Hong Kong's special status if Beijing imposes new national security laws on the city.

Gold is often used as a safe store of value during times of political and financial uncertainty.

Indicative of sentiment, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.3% to 1,123.14 tonnes on Friday, a fresh seven-year high.

Further supporting gold's appeal, the dollar index fell 0.4% against its rivals.

Elsewhere, silver jumped 2% to $18.20 per ounce, its highest since Feb. 26, before retreating slightly to trade 1.8% higher at $18.16.

Speculators cut their bullish positions in COMEX gold and increased them in silver contracts in the week to May 26, the U.S. Commodity Futures Trading Commission said on Friday.

Palladium rose 0.7% to $1,958.25 per ounce, while platinum declined 0.3% to $835.56.

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