This year to last a second longer!

December 30, 2016

Washington, Dec 30: This year will last a second longer as a "leap second" will be added to the world's clocks on New Year's Eve by the timekeepers.

clockThe extra second will be inserted at the US Naval Observatory's Master Clock Facility in Washington, DC at 23 hours, 59 minutes and 59 seconds Coordinated Universal Time (UTC) which corresponds to 5:29:59 am Indian Standard Time on January 1.

Historically, time was based on the mean rotation of the Earth relative to celestial bodies and the second was defined in this reference frame.

However, the invention of atomic clocks defined a much more precise "atomic" timescale and a second that is independent of Earth's rotation.

In 1970, international agreements established a procedure to maintain a relationship between Coordinated Universal Time (UTC) and UT1, a measure of the Earth's rotation angle in space.

The International Earth Rotation and Reference Systems Service (IERS) is the organisation which monitors the difference in the two time scales and calls for leap seconds to be inserted in or removed from UTC when necessary to keep them within 0.9 seconds of each other.

In order to create UTC, a secondary timescale, International Atomic Time (TAI), is first generated; it consists of UTC without leap seconds.

When the system was instituted in 1972, the difference between TAI and UTC was determined to be 10 seconds.

Since 1972, 26 additional leap seconds have been added at intervals varying from six months to seven years, with the most recent being inserted on June 30, 2015.

After the insertion of the leap second in December, the cumulative difference between UTC and TAI will be 37 seconds.

Confusion sometimes arises over the misconception that the occasional insertion of leap seconds every few years indicates that the Earth should stop rotating within a few millennia.

This is because some mistake leap seconds to be a measure of the rate at which the Earth is slowing.

The one-second increments are, however, indications of the accumulated difference in time between the two systems.

The decision as to when to add a leap second is determined by the IERS, for which the USNO serves as the Rapid Service/Prediction Center.

Measurements show that the Earth, on average, runs slow compared to atomic time, at about 1.5 to 2 milliseconds per day.

These data are generated by the USNO using the technique of Very Long Baseline Interferometry (VLBI).

VLBI measures the rotation of the Earth by observing the apparent positions of distant objects near the edge of the observable universe.

These observations show that after roughly 500 to 750 days, the difference between Earth rotation time and atomic time would be about one second.

Instead of allowing this to happen a leap second is inserted to bring the two time-scales closer together.

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Agencies
February 26,2020

New Delhi, Feb 26: With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, sources said.

According to highly placed sources, the Group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and the discussions are still in the preliminary stage.

If the company actually submits an EoI, it would be a major move towards further diversification of the company which has business interests across sectors right from edible oil, food to mining and minerals. 

It also entered into airport operations and maintenance business and won bids for privatisation of six airports, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram and Mangaluru in 2019. 

On being contacted by IANS, the company did not comment on the matter.

Air India is one of the most important divestment proposals for the current fiscal to reach the huge Rs 2.1 lakh crore target.

The government in January restarted the divestment process of the airline and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Ltd. and 50 per cent in Air India SATS Airport Services Private Ltd.

After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake. In 2018, it had offered to sell its 76 per cent stake in the airline.

Of the total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286 crore.

Air India, along with its subsidiary Air India Express, has a total operational fleet of 146 aeroplanes.

Further, the disinvestment department has extended the last date for submission of written queries on the Performance Information Memorandum and Share Purchase Agreement to March 6.

The last date for submission of written queries on PIM and SPA was originally set for February 11, following which the Department of Investment and Public Asset Management (DIPAM) on February 21 issued 20 clarifications on the queries raised and expected.

Any delay in the tentatively rolled out timeline would also delay DIPAM's plan to identify the pre-qualified bidders by March 31 and the financial bids invitation as well. It is expected to take more than two months after the selection of the pre-qualified bidders to complete Air India's sale.

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Agencies
March 3,2020

Facebook on Monday launched a new consumer marketing campaign in India titled 'More Together'. India is the first country in the Asia Pacific region where such a campaign is being rolled out.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

"India is at the heart of Facebook and one of our focus areas this year is to tell the exciting story of a service that is deeply embedded in the fabric of India," said Ajit Mohan, Vice President and Managing Director, Facebook India.

The campaign would have multiple campaigns over the next few weeks in eight languages and the one will be set in the context of Holi.

Facebook in 2019 introduced a new company logo to further distinguish the company from the Facebook app.

The company recently announced the appointment of Avinash Pant as the Marketing Director for India operations, to drive the consumer marketing efforts across the family of apps.

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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