Saturday, October 20, 2018

Latest News Headlines Sat Oct 20 12:39:01 IST 2018

  1. President, Vice President and PM Modi express grief over Amritsar train accident
  2. NITI Aayog's dream of a $10-trillion Indian economy by 2032 pared to half - Business Standard
  3. Lupin announces positive CHMP opinion for NaMusclaâ„¢ (mexiletine hydrochlori...
  4. Wockhardt gets revision in credit ratings
  5. Counting underway for J&K civic polls (Lead)
  6. Tantri, TDB disagree over emergency shutdown of Sabarimala shrine
  7. North Korean hacker group stole $571 mn in crypto attacks
  8. Punjab CM arrives in Amritsar over train tragedy
  9. Railways not responsible for Amritsar tragedy: Lohani
  10. Amritsar train tragedy: Bollywood shocked, calls for better safety
  11. I still work with my heart: Veteran actor Jackie Shroff (IANS Interview)
  12. Lara Dutta refuses work offer from Mukesh Chhabra's company
  13. Changing rhythm isn't that easy, reveals music app
  14. Voting underway for Afghan parliamentary polls
  15. Anonymous Facebook ads influenced nearly 10 mn British voters
  16. UN orders withdrawal of Sri Lankan peacekeeper accused of anti-Tamil atrocities
  17. IUML Kerala legislator Abdul Razack dead
  18. Amritsar train tragedy: Train driver detained, questioned
  19. Schlumberger Announces Third-Quarter 2018 Results
  20. Alibaba's Robust Ecosystem Supercharges 2018 11.11 Global Shopping Festival
  21. Three injured as fuel tank of auto-rickshaw explodes
  22. At least three persons were injured, two of them seriously, when the fuel tank of an auto-rickshaw exploded while CNG was being filled in it at suburban Malad on Saturday, an official said.
  23. Russian President Vladimir Putin offers condolences on Amritsar train accident
  24. Russian President Vladimir Putin on Saturday offered condolences to India on a train accident near Amritsar in Punjab, which claimed 61 lives, the Russian Embassy said.
  25. Delhi court frames molestation charges against R K Pachauri
  26. A Delhi court Saturday framed molestation charges against former TERI chief R K Pachauri in a case of alleged sexual harassment lodged by his former colleague.
  27. No permission granted for Dussehra event: Amritsar MC
  28. The Amritsar Municipal Corporation Saturday said no permission was granted to hold Dussehra celebrations at 'Dhobi ghat' ground here.
  29. Residents stage protest at accident site
  30. Scores of people Saturday staged a sit-in on the railway tracks where 61 people were mowed down by a train during a Dussehra event.
  31. 37 trains cancelled, 16 diverted day after Amritsar tragedy
  32. The railways cancelled 37 trains and diverted 16 trains on Saturday, a day after Dussehra revellers were mowed down by a train while they were watching the burning of a Ravan effigy while standing on the tracks near Amritsar, officials said.
  33. UN chief Guterres, Canadian PM Trudeau condole Amritsar train accident
  34. UN chief Antonio Guterres has expressed his deepest condolences to the families and friends of over 60 people who died in a train accident in Amritsar, terming the incident as "tragic".
  35. Luke Cage' cancelled by Netflix
  36. Netflix has pulled the plug on Marvel's "Luke Cage" series, days after it cancelled another show "Iron Fist".
  37. Khashoggi killing: Trump buys Saudi 'fist fight' story, lawmakers sceptical
  38. 19 hours ago
  39. How Taiwan's Powerful PC Makers Will Overcome The Intel Chip Shortage
  40. Former Tanzanian President Jakaya Kikwete Calls For Improved Nutrition In Africa
  41. Channel - Block D - Billionaires - blog - Position 5 - Former Tanzanian President Jakaya Kikwete Calls For Improved Nutrition In Africa
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  55. A North Korean hacking group called Lazarus has stolen cryptocurrencies worth more than half a billion this year.
  56. Equity indices slip on global cues; Sensex down over 460 points (Roundup)
  57. New Industry Research Shows Augmented Reality Adopters Have Best-in-Class Performance Related to Factory Operations, Service, and Training
  58. Takeda Receives Clearance from the Japan Fair Trade Commission for the Proposed Acquisition of Shire plc
  59. India asks UN for visitor tours in Hindi language
  60. Khashoggi died in fight at consulate, admits Saudi Arabia (Lead)
  61. Tribals to oppose 'Statue of Unity' unveiling by Modi
  62. Counting begins for J&K municipal polls
  63. Amritsar train tragedy: Punjab Governor, Sidhu visit injured in hospital
  64. Police begin probe as train mows down 58 Dussehra revellers in Punjab (Lead)
  65. 58 Dussehra revellers crushed by train in Punjab, police begin probe
  66. Travancore Devasom Board (TDB) member K.P.Shankara Das on Saturday disagreed with the Sabarimala Tantri family's threat to close the temple doors if any woman within the barred age group arrive for darshan.
  67. He has a career spanning over four decades in the Hindi film industry and, as of 2017, has appeared in over 200 films. Actor Jackie Shroff, who has over five movies waiting to release now, says he still works with his heart.
  68. Counting was underway on Saturday for the recently concluded Jammu and Kashmir municipal polls, with preliminary results showing that the BJP was heading for a major victory in Jammu while mixed results were seen in the Kashmir Valley.
  69. Punjab Chief Minister Amarinder Singh arrived in Amritsar on Saturday, nearly 16 hours after at least 60 people were crushed to death by a train while watching the burning of a Ravana effigy here.
  70. Hours after 60 hapless Dussehra revellers were mowed down by a train here in Punjab, Chairman Railway Board Ashwani Lohani on Saturday dismissed the railways' responsibility in the tragedy.
  71. Novel method to deliver drugs to the brain
  72. Delhi will soon become a gas chamber: Kejriwal
  73. Delhi Chief Minister Arvind Kejriwal on Friday flayed the Centre and the neighbouring state governments for their inaction to stop stubble burning and said that "Delhi will become a gas chamber".
  74. Researchers have discovered a potentially new approach to deliver therapeutics more effectively to the brain.
  75. Facebook now has a War Room to fight election interference
  76. In line with its efforts to prevent misuse of its platform during elections, Facebook has set up a War Room to reduce the spread of potentially harmful content.
  77. https://www.livefistdefence.com/min/15094.css' /
  78. U.S. weighs new warship passage through Taiwan Strait
  79. Materialism can lead to anxiety & depression in children; gratitude can curb the tendencies
  80. Packaged foods sold in plastic may contain harmful chemicals; can affect heart and nervous system of children
  81. Obesity can trigger hypertension, diabetes: Eat right and workout to ditch the silent killer
  82. Namaste England' review: Great chemistry between Arjun Kapoor, Parineeti Chopra; but weak narrative
  83. Planning to get lip fillers? Healing takes 2 weeks, smoking reduces longevity of treatment
  84. Big B, Madhuri Dixit, Akshay Kumar greet fans on Dussehra; wish for victory of good over evil
  85. Saif Ali Khan speaks up on #MeToo: Need to ensure there's no abuse of power in Bollywood
  86. Delhi court frames charges against RK Pachauri in sexual harassment case
  87. Samsung launches flagship Galaxy Tab S4 for Rs 57,900 in India
  88. Kerala actress abduction case: AMMA accepts Dile...
  89. Tesla unveils new 'Model 3' with mid-range batte...
  90. #MeToo: KWAN's Anirban Blah rescued minutes befo...
  91. BigBasket may become your new milkman
  92. Delhi court frames charges against RK Pachauri
  93. Orders dry up, HAL staff could sit idle
  94. Europe, Japan send spacecraft to Mercury for 7 yrs
  95. Amritsar train mishap: 37 trains cancelled, 16 diverted
  96. MSC Bank to enter retail banking to fight pvt sector
  97. बेंगलुरु में शुरू हुआ देश का पहला बिटकॉइन ATM
  98. High noon in Brussels: Italy prepares for budget showdown
  99. Zomato leaves pricey property in Gurgaon
  100. Soon, BigBasket will deliver milk as well
  101. Maharashtra State Co-operative Bank to enter retail banking through merger of UCB branches
  102. Tesla unveils new 'Model 3' with mid-range battery at $35K
  103. Kerala actress abduction case: AMMA accepts Dileep's resignation
  104. #MeToo fallout: Mukesh Chhabra removed from 'Kizzie Aur Manny' over sexual harassment allegations
  105. Big mistake from railway authorities: Navjot Kaur Sidhu
  106. Sabarimala board to submit report to SC
  107. Materialism has been linked to a variety of mental health problems, as well as selfish behaviour.
  108. Indian IT companies are already facing margin challenges as a result of tighter visa rules in the US
  109. BigBasket milk delivery service, BB Daily, will allows customers to order milk and other daily essentials items
  110. Times99
  111. Shapoorji Pallonji
  112. Public opinion plays a big role in libel cases, like the one filed by former Union minister MJ Akbar
  113. Although the proposal is yet to be cleared by the RBI, the MSC Bank has already received a proposal of merger from the Rupee Co-operative Ba...
  114. Ad: Amazon Business
  115. Monkeys stone man to death, cops in fix as family wants FIR
  116. Goldman says it’s time to buy the dip in beaten-down EMs
  117. As Khashoggi crisis grows, Saudi king asserts authority, checks son's power: Sources
  118. While 16 trains were diverted and reached their destination through a different route, 18 trains were short terminated, Northern Railways spokesperson Deepak Kumar said.
  119. Although the proposal is yet to be cleared by the RBI, the MSC Bank has already received a proposal of merger from the Rupee Co-operative Bank.
  120. The European process might not be central," Bank of America Merrill Lynch said in a note to clients.
  121. The European Space Agency and the Japan Aerospace Exploration Agency said the unmanned BepiColombo spacecraft successfully separated and was sent into orbit from French Guiana as planned to begin a seven-year journey to Mercury.
  122. According to the Russian embassy, Putin offered condolences to President Ram Nath Kovind and Prime Minister Narendra Modi on the train accident.
  123. China views Taiwan as a wayward province and has been ramping up pressure to assert its sovereignty over the island. It raised concerns over U.S. policy toward Taiwan in talks this week with U.S. Defense Secretary Jim Mattis in Singapore.
  124. Choudhary has reportedly said that BCCI needs to be WADA compliant even though it has been vehemently opposed by the top cricketers as they have serious reservations over the ''whereabouts clause''.
  125. A severe fund crunch is slowly but steadily impacting the operational preparedness of the Indian Air Force (IAF), forcing it to put on hold acquisitions of helicopters, "smart bombs" and missiles as well as repair of runways in crucial airbases on both the western and eastern fronts.
  126. Some companies are already facing margin challenges as a result of tighter visa rules that require them to hire US citizens and sub-contract work when they cannot hire quickly enough.
  127. China to launch artificial moon to light up night sky
  128. Vijay Hazare Trophy Final: Delhi woes increase as Pawan Negi gets injured
  129. Caroline Wozniacki seeks repeat at wide-open WTA Finals
  130. Apple Oct 30 event to iPhone XR, Watch Series 4 in India: Why next week could be big for Apple
  131. Kerala MLA Abdul Razak dies of heart attack
  132. IBPS PO October 20 prelims 2018 LIVE: First slot concluded, check paper analysis
  133. Only BCCI General Body can take call on WADA compliance, says CK Khanna
  134. Watch video: Moment when two trains mowed down dozens of people in Amritsar
  135. Vietnam dissident ‘Mother Mushroom’ describes prison hunger strikes
  136. World’s longest sea bridge between China-Hong Kong to open on October 24
  137. China to launch artificial moon to light up night sky
  138. Royal Challengers Bangalore sell Quinton de Kock to Mumbai Indians in first IPL player tradeoff
  139. Badhaai Ho box office collection day 2: Ayushmann Khurrana film earns Rs 18.96 crore
  140. Watch the teaser of Sarkar here
  141. Only BCCI General Body can take WADA call: Khanna
  142. 'Alienate serial predators': Bhupathi on MeToo
  143. Alaves climb to top after 1-0 win over Celta
  144. Wanted: Strikers who can score
  145. Apple Oct 30 event to iPhone XR, Watch Series 4 in India: Why next week could be big for Apple
  146. With Apple's October 30 event, iPhone XR pre-orders open in India as well as Watch Series 4 sale in India: Here's why next week could be big for Apple
  147. The IUML leader represented Manjeshwaram constituency in the district in the state assembly. He was an MLA since 2011.
  148. From the Margins
  149. Indian banks to sell Vijay Mallya’s cars ‘shortly’ in UK
  150. Mega Millions numbers for $1 billion jackpot announced
  151. यूपी के 850 से ज्‍यादा किसानों का कर्ज चुकाएंगे अमिताभ बच्‍चन, देंगे साढ़े पांच करोड़
  152. 96 வெற்றிக்கு பிறகு ஜாலியாக இருந்த த்ரிஷாவுக்கு இப்படியொரு கவலையா?
  153. രജനികാന്ത് ചിത്രം ‘പേട്ട’ ചിത്രീകരണം പൂര്‍ത്തിയായി
  154. Mumbai vs Delhi Live Score Vijay Hazare Trophy Final Live Cricket Score Streaming: Mumbai in control as Delhi go seven wickets down, DEL 150/7
  155. Home
  156. Amritsar Train Accident: सिद्धू बोलीं- रेलवे ट्रैक पर सेल्‍फी ले रहे थे लोग, मुझे नहीं पता कैसे क्‍या हुआ
  157. RRB Group D Admit Card, Exam Date, Center LIVE Updates: आने वाले हैं 29 अक्टूबर की परीक्षा के डिटेल्स, ऐसे करिएगा चेक
  158. Amritsar Railway Accident: त्या रामलीलेत ‘रावण’ साकारणाऱ्या कलाकाराचाही दूर्देवी अंत
  159. Apple Watch Series 4 to go on sale today: Where to buy, price in India
  160. Xiaomi Mi Air Purifier 2S review: Affordable, but still cleans your room
  161. The remains were found in three unrefrigerated boxes. Also, additional remains were found in a deep freezer. Some of the bodies had dates of death in 2015.
  162. Unburied fetuses, other bodies found in second funeral home in Detroit
  163. Europe, Japan send spacecraft on 7-year journey to Mercury
  164. Trump administration wants phase-in of UN rules on maritime fuel
  165. Trump on Khashoggi death: Saudi arrests is a ‘good first step’
  166. Enforcement Directorate probes Air India deals during UPA rule
  167. Jammu and Kashmir Municipal Polls: Security heightened across state on counting day
  168. RRB Group D 2018 important updates: Exam city, date details released upto December 17
  169. Marvel’s Luke Cage cancelled after two seasons
  170. October 20, 2018 12:11:21 pm
  171. Khashoggi died in consulate fight - Saudis
  172. England v Sri Lanka fourth ODI - and listen to The Cricket Social
  173. IUML Legislator Abdul Razak passes away
  174. Facebook shareholders ask Zuckerberg to step down as chair
  175. ULB polls: Congress gets majority in Anantnag, winning 20 wards, BJP bags 3
  176. Pakistan's border crossings with Afghanistan temporarily closed
  177. Canadian PM condoles death of people in Amritsar train crash
  178. ULB elections: Counting of votes begins in Kashmir
  179. Key BJP meeting in Jaipur on shortlisting candidates for Rajasthan polls
  180. NGOs launch nationwide mass movement for clean Ganga
  181. Fire at Ramleela ground in Kanpur during 'Ravan Dahan
  182. UGF files complaint against CM, Speaker, others over tenders, contract awarded by GSIDC
  183. LONDON, OCT 20
  184. - Artistes from China's National Peking Opera Company performing 'The Emperor and the Concubine' at the Sadler's Wells Theatre, in London on Friday. UNI PHOTO-2u
  185. BRUSSELS. OCT 20
  186. - EU's Foreign Affairs and Security Policy Chief Federica Mogherini addressing a press conference at the 12th Asia-Europe Meeting Summit, in Brussels, Belgium on Friday. UNI PHOTO-1u
  187. 10 hours ago
  188. 14 hours ago
  189. Inauguration of Star Oil Refinery was held in Izmir  Azerbaijani and Turkish presidents attended the ceremony VIDEO
  190. Inauguration of Star Oil Refinery was held in Izmir Azerbaijani and Turkish presidents attended the ceremony
  191. Azerbaijani and Turkish presidents attended the ceremony
  192. BP launches Skills Refinery to support students’ employability
  193. Facebook In Trouble Again: Admits Inflating Video Viewership,  Accused Of Misleading Advertisers
  194. Assange sues Ecuador for 'violating his rights'
  195. Kerala: MLA P.B. Abdul Razak dies at 63
  196. No permission granted for Dussehra event Amritsar MC
  197. UN chief Guterres Canadian PM Trudeau condole Amritsar train accident
  198. Assange sues Ecuador for 'violating his rights
  199. No permission granted for Dussehra event Amritsar MC
  200. UN chief Guterres Canadian PM Trudeau condole Amritsar train accident
  201. Assange has been living in the Ecuadorian Embassy in London since 2012
  202. The woman is accused of trying to sway public opinion through social media
  203. World's longest sea bridge between China-Hong Kong to open on October 24
  204. US weighs new warship passage through Taiwan Strait
  205. Headless insurance ombudsmen offices hurt policyholders
  206. India vs Windies 1st ODI: Preview, team news, possible XI and betting odds
  207. DoT asks MTNL to outline long-term roadmap as part of revival talks: CMD
  208. Rupee jumps 29 paise against US dollar to 73.32
  209. Anil Agarwal indicates he is open to raising bid for Essar Steel
  210. Amritsar Train Tragedy: Bollywood Shocked, Calls For Better Safety in Public Places
  211. Jammu and Kashmir Municipal Election Results: Counting of Votes Underway
  212. 25 stocks fell 10-30% in just 4 trading sessions, do you own any?
  213. 43 minutes ago
  214. 47 minutes ago
  215. 4 hours ago
  216. 41 minutes ago
  217. Amritsar Train Accident: Punjab CM Meets Injured at Hospital
  218. Li calls on China, EU to safeguard multilateralism, free trade system
  219. Myanmar busts over 1,200 drug trafficking cases in NW region over 9 months
  220. Pic story: change of wheels mirrors change of lives of Chinese people
  221. Spotlight: Asia-Europe Meeting Summit seeks multilateralism
  222. IS releases 6 of Syria's Sweida hostages
  223. Xi makes instruction on work of Party committees' general offices
  224. USMCA to benefit North America for several years: Pompeo
  225. Brazil announces 100,000 dollars donation to Indonesia
  226. Vijay Hazare Trophy Final: Delhi continue to lose wickets
  227. RRB Group D 2018: Exam city, date details released upto December 17
  228. साक्षी तंवर के घर आई ‘नन्ही परी’, ‘बड़े अच्छे लगते हैं’ एक्ट्रेस ने बच्ची को गोद लेकर कही ये बात
  229. ത്രിവിക്രമന്റെ പുസ്തകം
  230. iPhone XR Preorder
  231. Huawei P20 Pro
  232. Xiaomi Mi Mix 3
  233. Avengers 4 Spoilers
  234. Nest Learning Thermostat Sale
  235. New iPad Pro
  236. Galaxy S10 Specs vs. iPhone XS
  237. PS4 message bug fixed
  238. Alexa For Cars
  239. Amazon Deals
  240. Verizon Pixel 3 XL
  241. t rex arms
  242. china fake moon
  243. Jammu and Kashmir Municipal Election 2018 Voting LIVE UPDATES: A thick security blanket has been thrown around the polling stations. (File)
  244. J&K municipal polls: Security heightened across state on counting day
  245. funeral home, decayed fetuses found, Detroit funeral home, raid in funeral homes, World news, Global news, Indian express
  246. US is said to be planning exit from landmark nuclear pact with Russia
  247. Nylon 6/6 Market 2018- Global Industry Analysis, By Key Players, Segmentation And Forecast By 2023
  248. PCB Software 2018 Global Market Growth, Trends, Segmentation, Opportunities & Forecast To 2025
  249. EMEA (Europe,Middle East and Africa) Facial Recognition Biometrics Market Report 2018
  250. Asia-Pacific Wire-winding Chip Power Inductor Market Report 2018
  251. Asia-Pacific Vector Network Analyzers Market Report 2018
  252. Asia-Pacific Thin Clients in Hardware Market Report 2018
  253. United States Non-contact Sensors Market Report 2018
  254. United States Microwave Generator Market Report 2018
  255. United States Non-Isolated DC-DC Converter Market Report 2018
  256. United States Optical Fiber Patch Cord Market Report 2018
  257. Injury toll climbs to 130 in Israeli gunfire in Gaza
  258. A file picture taken on April 23, 2015, shows Tanzanian businessman Mohammed Dewji at his office in Dar es Salaam
  259. Car in air
  260. Istanbul airport CCTV footage purportedly showing Maher Abdulaziz M Mutreb on 2 October 2018
  261. Stephen Hawking: Humans need to leave Earth or risk being annihilated by nuclear war or climate change
  262. A former arsenic-contaminated rail yard in Florida is being turned into a giant park - take a look
  263. These are the 15 Saudis suspected in the disappearance and alleged killing of journalist Jamal Khashoggi
  264. OnePlus is having some terrible luck with scheduling the launch of its latest smartphone
  265. The life of Afghan Gen. Abdul Raziq, whose assassination Thursday was a huge Taliban victory
  266. China's President Xi Jinping
  267. Surrey cleaner, 39, claims her son is love child of a £108m lottery winner
  268. Mother, 30, who smothered her baby to death after falling asleep on couch in Liverpool
  269. EDEN CONFIDENTIAL: Liam Neeson's son takes his mother's name 'to keep her close' after she
  270. LOTTO MAX - 23 Maxmillions were won yesterday
  271. Drivers Looking to Lease a New Volkswagen are Invited to Shop at Donaldsons Volkswagen
  272. These conflicts include a ...
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  • Verizon Black Friday 2018: 50% off phones, smart home discounts, more
  • Dyson’s UP13 vacuum can help you clean up in a jiffy for $200 (Reg. $250+)
  • Men’s leather everyday dress belt in an array of color options for just $12 (Reg. $20)
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  • Plaid, the fintech startup that quietly powers tech behemoths like Robinhood, Venmo, and Coinbase, is seeking funding at a $2 billion valuation
  • Saudi Arabia wants to build a $500 billion megacity that's 33 times as large as New York City. Now it's on shaky ground after a Saudi journalist's disappearance.
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  • This chart shows Google's billions of dollars in progress, and the bumps in the road, in its plan to become more than just an ad company
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  • Trump's trade war is forcing Beijing to retreat from its own anti-debt battle
  • Here's what's happening in Italy and why it's hurting markets
  • Junior Assistant, Senior Technician, More Vacancies Job in Indian Institute of Information Technology Allahabad
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  • Kati Bihu festival celebrated across Assam
  • Haasan to ally with congress
  • India, Japan, the U.S. plans for a trilateral joint air exercise
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  • Copyright:(C)Sat 20 Oct 2018, 12:21:522018Sat 20 Oct 2018, 12:21:52 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html
  • Trump's visa tweak hits Indian IT firms where it hurts the mostIndian IT companies are already facing margin challenges as a result of tighter visa rules in the US
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  • Copyright:(C)Sat 20 Oct 2018, 12:21:312018Sat 20 Oct 2018, 12:21:31 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html
  • BENGALURU: The Donald Trump administration has proposed changes to the H-1B registration process, which could lead to more permits being given to those with US master’s degrees, impacting Indian IT firms that rely on the work visa to service clients in that market.The US General Services Administration said in a note that it was looking at a modified selection process in tune with the ‘Buy American and Hire American’ policies of the US government in a rule that was first proposed in 2011 to improve the intake and selection process of H-1B petitions. The US Citizenship and Immigration Services (USCIS) is the agency mandated to issue visas to immigrants.“This regulation…would increase the probability of the total number of petitions selected under the cap filed for H-1B beneficiaries who possess a master’s or higher degree from a US institution of higher education each fiscal year,” it said. The US offers 65,000 standard H-1B visas for skilled workers and an additional 20,000 visas for workers with a US master’s degree or higher.Typically, the agency processes the master’s pool and then sends petitions that are left over to the general pool. “Under the proposed rule, USCIS would first put all applicants in the general 65,000-visa pool. If that cap were reached, any additional US advanced degree holders would be redirected to the 20,000-visa pool,” US political news site Politico reported, citing sources at the Department of Homeland Security. “The administration expects the change could lead to a 15% increase in H-1B visa holders with US advanced degrees.”For Indian IT companies, which predominantly employ people with bachelor’s degrees, the move could reduce the number of visas that are available for those without the advanced degrees. Some companies are already facing margin challenges as a result of tighter visa rules that require them to hire US citizens and sub-contract work when they cannot hire quickly enough.“Increase in our sub-contractorcost, on-site localisation and investment impacted the margins by 50 basis points,” Infosys told analysts after its second-quarter results. The company’s margin was flat even as the rupee weakened significantly, which generally results in higher margins.The company said it expects its sub-contractor costs to remain elevated, until it could staff projects with its own employees. Last year, Infosys said it would hire 10,000 American workers by 2020.Despite the issue of tighter visas, IT CEOs do not believe the Indian talent model will fade away soon. “The fact is that the sheer demand for talent and the supply for talent is going to be met from places like India because demand far outstrips supply in those markets. But we have to be cognisant of the politics of it, so we need to be broad-based,” TCS CEO Rajesh Gopinathan said in an interview last week. “But I don’t think the demand for Indian talent is going to be outdated anytime soon.”The US has issued over 19.07million of the 34.7 million H-1B visas issued in the decade to 2017 to applicants with post-graduation qualifications, the USCIS disclosed on its site. It did not, however, disclose whether the applicants had advanced degrees from US universities.During the same period, those with bachelor’s degrees got 15.43 million work permits. The Trump administration is also looking to terminate by end of this year an Obama administration plan that allowed spouses of H-1B visa holders to work in the US.The National Association of Software and Services Companies (Nasscom) said the Trump administration had said last year that it would begin making these changes to the programme and that the industry lobby would only be able to comment once an actual change was made. “We have always maintained that changing regulatory issues relating to the employer-employee provision, or the wages would simply increase the costs to the US companies that use the services of the industry to innovate and grow,” said Nasscom vice-president Shivendra Singh.
  • The default crisis that has struck IL&FS, flagbearer of the public-private partnership (PPP) programme, may be the last straw for this once-promising avenue of infrastructure development, experts and executives said, adding that the government will have to take over that role once more. The private sector’s enthusiasm for investment in infrastructure has in any case been waning for some time now, they said.India had aimed to fuel its ambitious infrastructure plans through PPP, but delays, the poor health of sponsors, stressed assets and the reluctance of banks to provide funding has derailed many plans, with many projects headed to bankruptcy court. Industry believes that if India wants to create infrastructure, the government will have to do it.The infrastructure sector has been having problems since 2013 but the IL&FS case will be a nail in the coffin for PPP, said Hemant Kanoria, chairman and managing director of Srei Infrastructure Finance. “India’s PPP story is over and government will have to fund infrastructure growth,” he said. “Operational projects will change hands, original promoters and banks will lose money. The acquirers, mostly overseas investors, will get a cheap deal and make some money. But nobody will invest in greenfield projects.”His company changed tack some five years back and decided not to invest anymore in infrastructure but to focus on equipment lending, which he says is thriving thanks to government-financed projects. According to the Economic Survey, India will need to invest about $4.5 trillion to upgrade and increase the capacity of its creaking, choked infrastructure, of which it should be able to garner about $ 3.9 trillion. Rising income levels and economic prosperity are likely to further drive demand for infrastructure investment over the next 25 years and widen the gap from the estimated $526 billion, experts said. Investments by the private sector could have helped bridge that gap had the PPP model not been on the verge of collapse. The Nat iona l Highways Authority of India (NHAI) realised that private sector was not keen on investing in roads and has since 2011 scaled up the proportion of engineering, procurement and const ruct ion (EPC) projects. These a refinanced by NHAI and executed by private sector contractors.“The earlier contractor-developers, who were the first set of people who put in money, are licking their wounds and saying they won’t touch PPP again,” said Vinayak Chatterjee, chairman of Feedback Infra. “The big bucks that are coming in now are from long-term institutional investors for brownfield operating assets, avoiding greenfield projects and associated development and construction risks.”In 2013, Maharashtra’s ambitious Mumbai trans-harbour link project received no bids when offered under the PPP route on concerns over viability. It was finally awarded in 2017 on contract basis. Almost all mega infrastructure projects since then have been offered on EPC basis, providing much-needed cash to otherwise cash-strapped companies. Those that entered the PPP space, such as Larsen & Toubro, Reliance Infrastructure and GMR Group among others, have decided to be asset light.“PPP projects were not happening anyway because banks are not giving finance, not even for hybrid annuity,” said HCC chairman and managing director Ajit Gulabchand. “There are delays in projects that are due to geological reasons, delay in permissions, and other reasons that cannot be attributed to the concessionaire.” IL&FS has consolidated debt of Rs 91,000 crore, of which Rs 57,000 crore is accounted for by bank loans. A significant portion of revenue was in the form of receivables, and around 50% of this is blocked in litigation and arbitration.The current government had looked to revive the PPP programme early on its tenure with initiatives such as 3P India and other policy reforms. “Private capital, today, is highly antagonistic to PPP. Many others, have burnt their fingers besides IL&FS,” said Chatterjee of Feedback Infra. “There is a sea change in the appetite of investors coming in to fund infrastructure projects.”The insolvency framework is addressing the issue of stressed assets but the haircut for promoters and banks may be significant. The power sector, which has almost 40,000 MW of stressed assets, saw bids for around Rs 1-2 crore a megawatt for projects that were on the block, against capital cost of around Rs 5-6 crore per MW spent on them. That makes the prospect of the developers bouncing back and getting into new projects bleak.The government will have to overhaul the system with an indepth study of the industry’s capability, ensure smooth implementation of policy changes, enable financing and expedite structural reforms, experts said. But with elections coming up, most infrastructure players expect little to change for PPP projects over the next few quarters.
  • Online grocer BigBasket has completed acquisition of three startups to foray into milk delivery and smart vending machines, several months after raising $300 million from Alibaba and other investors. BigBasket has acquired 100% stakes in milk delivery startups RainCan and Morning Cart, and a controlling stake in vending machines startup Kwik24, the company announced on Friday.This move comes at a time when ecommerce giants Flipkart and Amazon India are strengthening their grocery verticals. “The micro delivery startup acquisition really helps BigBasket in accelerating our need to bring fresh subscription services to our customers, daily,” said Hari Menon, chief executive at BigBasket. “And Kwik24 acquisition gives us the ability to be closer to the customer by way of the BB Instant smart vending kiosks.”ET had in May and June reported that BigBasket is in talks to acquire RainCan and Kwik24, respectively.BigBasket has branded the milk delivery service as BB Daily, a subscription service that allows customers to order milk and other daily essentials the previous night and have them delivered the following morning. Currently piloting in Bengaluru and Pune, the service already has 20,000 daily subscriptions, according to BigBasket The service will soon reach eight metro cities, it said.Rival online grocer Grofers launched its grocery subscription service earlier during the year and claims to have over 5 lakh subscribers. With Kwik24, BigBasket has installed 100 smart vending machines in Bengaluru and plans to expand to other cities shortly.The vending machines are installed as part of the BB Instant service, which allows customers to order fresh produce and other FMCG products through the BB Instant app, and pick it up from the vending machine installed in apartment complexes.Big Basket’s acquisitions of two milk delivery startups comes at a time when this sector has been garnering investor interest because of the general customer stickiness it generates. Milk delivery startup DailyNinja, which claims to clock about 35,000 daily orders, recently raised funds from Saama Capital and Matrix Partners, and Gurgaon-based Milk Basket secured financing from Kalaari Capital.Food delivery app Swiggy has also been in talks with milk delivery startup Supr-Daily for a possible acquisition, as reported by ET.
  • PUNE: The Maharashtra State Co-operative (MSC) Bank, the apex lender in the state’s three-tier cooperative banking sector, plans to enter the retail banking sector and compete with the private sector. It has proposed a new policy of merging urban cooperative banks (UCBs) as well, or only some branches of UCBs in some cases. So far, only district cooperative banks (DCBs) could be merged with the MSC Bank.“We have submitted a proposal to the RBI (Reserve Bank of India) to merge the UCBs. Instead of bank mergers, we have proposed merger of only the financially weak branches of UCBs,” said Vidhyadhar Anaskar, chairman, MSC bank. Although the proposal is yet to be cleared by the RBI, the MSC Bank has already received a proposal of merger from the Rupee Co-operative Bank. The MSC Bank, the main lender to Maharashtra’s cooperative sugar mills, reported a turnover of Rs 40,000 crore, with own funds of Rs 3,700 crore, in the previous financial year. To recover non-performing assets or NPAs of Rs 1,163 crore, of which sugar mills account for Rs 485 crore, the bank has announced a one-time settlement scheme. In the past it had sold some of the non-functional sugar mills to reduce its NPAs. But since it was finding it tough to sell the remaining sugar mills, it has now allowed an extended lease period of up to 25 years. “We have already given five sugar mills on lease under the new policy and some more proposals are under consideration,” said Anaskar. Maharashtra has the country’s largest cooperative banking sector. Yet, at many places in the state, cheques from cooperative banks are not accepted. The MSC Bank wants to change the negative perception regarding cooperative banks in some quarters with a series of reforms and awareness programmes. To save the financially weaker DCBs from closure, it has submitted a proposal to the RBI to make them banking correspondents. “We have proposed to lend directly to the primary agricultural cooperative societies, which are normally served by DCBS. We will give a rebate of 1% in the interest rate to the DCBs. This way, the NPAs of the DCBs will not increase,” said Anaskar. The MSC Bank has also restructured its board of directors by halving the number of seats reserved for the politically controlled DCBs to six from 12 in the 21-member board. It is also in the process of acquiring land to set up India’s first university for cooperatives in Pune.
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