Sri Lankan tea pickers’ dreams shattered as nation faces economic crisis

 The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back. After a month of picking more than 18 kg (40 lb) of such tea leaves each day, she and her husband, fellow picker Michael Colin, 48, receive about 30,000 rupees, worth about $80 after the island nation devalued its currency.

“It is not close to enough money,” Arulappan, 42, said of their earnings, which must support the couple’s three children and her elderly mother-in-law. “Where we used to eat two vegetables, now we can only afford one.” She is one of millions of Sri Lankans reeling from the island’s worst Sri lanka economic crisis in decades.

The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government. Left critically short of foreign currency to buy essential supplies of food, fuel and medicines, Sri Lanka has turned to the International Monetary Fund for an emergency bailout.

California moves to consider adoption and regulation of digital currencies

 Gov. Gavin Newsom signed an executive order for state agencies to move in tandem with the federal government to craft regulations for digital currencies

California, which would have the world’s fifth-largest economy if it was a country, on Wednesday became the first US state to formally begin examining how to broadly adapt to cryptocurrency and related innovations, following a path laid out by President Joe Biden in March. Gov. Gavin Newsom signed an executive order for state agencies to move in tandem with the federal government to craft regulations for digital currencies. It also calls for officials to explore incorporating broader blockchain computer coding into the government operations of the state where much of the world’s technological innovation is born.

Evolving blockchain and cryptocurrency technology is potentially an explosive creator of new companies and new jobs and new opportunities, said Dee Dee Myers, a senior advisor to Newsom and director of the Governor’s Office of Business and Economic Development. So there are a lot of opportunities, she said. There’s also a lot of unknowns in the industry and so that’s another reason we want to engage early. Newsom’s order says the state home to Silicon Valley and financial innovators like PayPal and Square should be out front in figuring out how to adapt to new technologies.

Taliban stops issuing driving licence to women in Kabul: Reports

 The ban comes at a time when the country suffers from a devastating humanitarian crisis, with an acute shortage of food and other essential supplies.

The Taliban regime in Afghanistan has stopped issuing driving licenses to women in Kabul and other provinces, media reports said. The ban comes at a time when the country suffers from a devastating humanitarian crisis, with an acute shortage of food and other essential supplies. Before the Taliban takeover, women in Afghanistan could be seen driving in some of the major cities of the country including Kabul. However, the Taliban has now stopped distributing driving licenses to women, local media said.

Notably, the situation of human rights in Afghanistan has worsened since the collapse of the Afghan government and the Taliban’s return to power in August last year. Although the fighting in the country has ended, serious human rights violations continue unabated, especially against women. In a recent decree, the Taliban regime in Afghanistan banned girls from attending school above grade sixth leading to worldwide condemnation. The leaders of the outfit have since said that the move was taken because of an apparent “shortage of teachers” and that the right of girls to study beyond grade sixth will be restored “shortly”

Ukraine, UK sign preferential trade deal; abolish import duty, tariff quota

 “Ukraine and the UK have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement,” the ministry was quoted as saying by Xinhua news agency

Ukraine and the UK have signed an agreement on the abolition of import duties and tariff quotas, the Ukrinform news agency said, citing the Ukrainian Economy Ministry. “Ukraine and the UK have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement,” the ministry was quoted as saying by Xinhua news agency.

The preferential trade agreement, which will be in place for 12 months, is set to boost the exports of high value-added goods from Ukraine, including flour, grain, dairy products, poultry, tomato paste, honey, corn, wheat, juices, mushrooms and sugar. Last month, the European Union decided to abolish tariffs and quotas on Ukrainian industrial goods and foods…

LIC mega IPO opens for retail, institutional investors; to close on May 9

 LIC public offer, the country’s biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors.

LIC public offer, the country’s biggest-ever LIC IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.

The share sale is through an offer-for-sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on May 17. LIC has cornered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions. Anchor Investors (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share…LIC IPO Date

Entire company of Delhi Police suspended for abandoning sensitive zone

 In a major action for dereliction of duty, personnel of an entire company of a Delhi Police battalion were placed under suspension for not being found at the locations they were deployed on Eid

In a major action for dereliction of duty, personnel of an entire company of a Delhi Armed Police battalion were placed under suspension for not being found at the locations they were deployed in old Delhi to prevent any untoward incident on Eid-ul-Fitr on Tuesday. IANS is in possession of the order by DCP, North, suspending 60 constables of a company of the DAP’s 3rd Battalion. A source told IANS that this battalion was called from Vikas Puri to perform duty on Eid at Sadar Bazar and nearby area of Red Fort as these are most sensitive zones.

“It was 3rd Battalion of our force called from Vikas Puri. Chandni Chowk and nearby area is sensitive. On Eid, we wanted to deploy more security personnel to maintain law and order situation and to avoid any untoward incident. But these personnel were not found at their locations. We marked all of them as absent and placed them under suspension,” the source said. Ahead of Eid, police had got information that anti-social elements could disrupt peace and harmony across Delhi and in a bid to thwart their nefarious plans, a number of such companies were deployed at various locations.

Imran demands early elections in Pak under supervision of ‘neutral’ CEC

 Claiming that the “selected” government has been imposed on the masses through planning and plotting, he said that an election must be held as soon as possible

Former Pakistan Prime Minister Imran Khan on Tuesday said that general elections must be held in the country under the supervision of a neutral chief election commissioner (CEC), reported local media. Claiming that the “selected” government has been imposed on the masses through planning and plotting, he said that an election must be held as soon as possible, otherwise, democracy will suffer a huge blow, reported Geo News.

Khan, however, added that the polls should be conducted under the supervision of a suitable chief election commissioner (CEC). Notably, this comes after last week he called CEC Sikandar Sultan Raja PML-N’s agent. Dismissing the allegations of his government being incompetent, he said, “We had been hearing those remarks for three-and-a-half years. My only demand is to conduct the election under the chairmanship of a neutral CEC. Let the people decide [the country’s fate].”…Read More

Musk says Twitter may charge slight fee for commercial, government users

 “Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk said in a tweet

Elon Musk said on Tuesday Twitter Inc will always be free for casual users but may charge a slight fee for commercial and government users, as the billionaire entrepreneur tries to boost the social media platform‘s reach from “niche” to most Americans. “Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk said in a tweet.

Twitter declined to comment when contacted by Reuters. Tesla chief Musk has been suggesting a raft of changes to Twitter since last month. After adding the company to his cart recently, Musk said he wanted to enhance the platform with new features, make the algorithms open source to increase trust, defeat spam bots, and authenticate all humans.

Last month, even before reaching a deal with Twitter, Musk had suggested few changes to the Twitter Blue premium subscription service, including slashing its price. Earlier this week at the annual Met Gala 2022 in New York on Monday, Musk also said he would make Twitter transparent about how tweets are promoted or demoted and wanted its software to be publicly available for critique.

US announces 1.5-year extension for some expiring immigrant work permits

 The extension period of up to 180 days will automatically be extended to up to 540 days from the expiration date stated on the current EADs, the Department of Homeland Security said.

The Biden administration has announced that certain categories of immigrants, including those seeking green cards and spouses of H-1B visa holders, would be permitted to use their expired work permits for an additional 18 months, offering a reprieve to thousands of Indians working in this country and prevent further disruption for US employers. A Green Card, known officially as a Permanent Resident Card, is a document issued to immigrants as evidence that the bearer has been granted the privilege of residing permanently in the US.

The move announced by the Department of Homeland Security on Tuesday will go into effect from May 4, 2022. The extension period of up to 180 days will automatically be extended to up to 540 days from the expiration date stated on the current Employment Authorisation Cards (EADs), the Department of Homeland Security said. “As USCIS (US Citizenship and Immigration Services) works to address the pending EAD caseloads, the agency has determined that the current 180-day automatic extension for employment authorisation is currently insufficient,” said USCIS Director Ur M. Jaddou.

China reports 353 fresh local Covid-19 cases, 16 deaths in past 24 hours

 The country also reported 5,075 locally-transmitted asymptomatic infections of the novel coronavirus in the past 24 hours

The Chinese mainland reported 353 new locally transmitted COVID-19 cases and 16 deaths in the past 24 hours, said the National Health Commission on Wednesday. Of these local cases, 260 were reported in Shanghai while the rest of the cases were reported in 11 other provincial-level regions, including Beijing, Henan and Sichuan, Xinhua reported citing the commission.

The country also reported 5,075 locally-transmitted asymptomatic infections of the novel coronavirus in the past 24 hours, of which 4,722 local asymptomatic carriers were identified in Shanghai. A total of 2,092 COVID-19 patients recovered from the virus in the past 24 hours, bringing the recovery toll to 198,550.

However, 16 new deaths, all in Shanghai, were reported in the past 24 hours, Xinhua reported. Meanwhile, as the COVID-19 outbreak continues to spread in more and more cities in China, questions are mounting over the country’s much-publicized “zero-covid” strategy that the government credited for bringing the country out of the pandemic…Read More

Private school aspiration increasingly out of reach as inflation bites

 Many private schools have raised fees and other charges by more than 15% this year, said Aparajita Gautam, president of the Delhi Parents Association

By Manoj KumarIndian financial consultant Waqar Khan has seen his income drop by about a fifth since the coronavirus pandemic began. When his younger son’s private school raised fees by 10% this year, he had no choice but to move him to the state system. With three children and living in a small house in the capital, New Delhi, the 45-year-old can no longer afford private school fees for his boy of 10. He moved his older boy into a state school in early in 2021.

“I had no option,” Khan told Reuters, adding that rising education costs had come on top of a nearly 25% increase in household expenses in the past two years. While inflation is putting the heaviest burden on the poorest, the relatively well-off are coming under the sort of pressure to make cuts in household budgets not seen in years. Khan is among millions of parents who have moved children from private to state education since 2020, or from elite schools to cheaper ones. In 2021, four million children switched from private to state, more than 4% of all children in school….

Russia prepares to declare mass mobilisation on May 9: Ukraine Intelligence

 “Russia has already been enacting covert mobilisation and is preparing to announce a mass mobilisation in the near future,” Kyrylo Budanov from Ukraine Chief Intelligence Directorate said

Russia Ukraine Conflict: Russia is preparing to announce a mobilisation on May 9, the Ukrainian intelligence has claimed on Monday. “Russia has already been enacting covert mobilisation and is preparing to announce a mass mobilisation in the near future,” Kyrylo Budanov, Head of the Chief Intelligence Directorate of the Ministry of Defence of Ukraine, said during an interview. When asked whether Russia plans to announce the mobilisation on May 9, he said: “Yes, they are preparing”, Ukrayinska Pravda reported, citing the Budanov’s interview with NV.

“Now Rosreserv (Russia’s Federal Agency for State Reserves) has started to check what they actually have in stock and to calculate what they can give out on mobilisation orders. This is an absolutely necessary step before the start of real mobilisation,” he explained. When asked whether the Kremlin’s plan is to win in Donbas by May 9, the head of the Chief Intelligence Directorate said: “That is their goal, but it will not happen, they do not have time. They will not manage to do it.”..Read More

Internet services suspended in Jodhpur after stone-pelting incident

 According to an order issued by Jodhpur Divisional Commissioner Himanshu Gupta all internet services have been suspended in Jodhpur beginning from 1 am today.

Jodhpur district administration temporarily suspended internet services in the district on Tuesday as a precautionary measure after clashes on Monday night, ahead of Eid Ul-Fitr and the Akshaya Tritiya festivals today. According to an order issued by Jodhpur Divisional Commissioner Himanshu Gupta all internet services have been suspended in Jodhpur beginning from 1 am today.

All 2G/3G/4G/ Data (Mobile Internet), bulk SMS/MMS/Whatsapp, Facebook, Twitter and other social media services through Internet service providers (except voice calls, broadband Internet, leased lines have been temporarily suspended till further orders in the entire Jodhpur district, read the order.

This follows after several people were injured in stone-pelting between two communities on Monday night after some miscreants replaced one community’s religious flag at Balmukand Bissa at the Jalori Gate intersection circle with that of another. People from the other community objected to this move resulting in clashes…

Akshaya Tritiya 2022: People celebrate with fervour, take holy dip in Ganga

 Several leaders from the political spheres also extended their greetings on the occasion.

The celebration of Akshaya Tritiya is in its full fervour across the country on Tuesday. Starting the day with a holy dip on this occasion, people took a holy dip at the sacred rivers. In Varanasi, people worshipped Lord Vishnu, Goddess Lakshmi and paid obeisance to the deities after taking a holy dip.

One of the devotees present at the venue said, “It is considered very auspicious to take a holy dip in River Ganga today. I am glad to be here with my family. I hope God wipes away the harmful effects of the COVID-19 pandemic.” Similar visuals were seen in Prayagraj wherein people were seen taking a holy dip in River Ganga to mark the occasion. Several leaders from the political spheres also extended their greetings on the occasion.

Taking to twitter Union Home Minister Amit Shah tweeted today morning, “Wishing everyone a very Happy Akshaya Tritiya. May Goddess Lakshmi fill everyone’s life with good health, progress and prosperity.” Union Minister Sarbananda Sonowal also Tweeted and wrote, “Greetings on the blessed occasion of #AkshayaTritiya. May your lives be filled with the gift of good health, happiness and prosperity. My best wishes to all.”…Read More

Elon Musk’s grand vision for Twitter faces reality check in Asian countries

 It’s not clear how Musk would reconcile his support for more free speech with strict government controls.

For all the furor about which way Elon Musk might tilt U.S. political discourse after getting the keys to Twitter Inc., his biggest challenges may emerge across the Pacific. Asia, home to more than half the world’s population, is Twitter’s biggest growth opportunity and arguably a far thornier challenge. If the Tesla Inc. and SpaceX billionaire makes good on promises to scrap censorship, he’ll encounter a plethora of perplexing regulations, wielded by sometimes authoritarian governments, pushed to the limits by a horde of first-time internet users.

The numbers alone suggest Musk’s biggest headaches lie abroad. Twitter’s monetizable daily active users numbered 179 million internationally — dwarfing the 38 million in the U.S. in 2021, according to its latest annual report. As a public company, Twitter has repeatedly emphasized it must abide by local regulations. Once it’s a private concern controlled by the world’s richest man, Musk will personally shoulder responsibility for navigating that thicket — and the fallout if he fails….Read More

LIC IPO opens on May 4. Should you subscribe? What brokerages suggest

 While LIC policyholders are entitled to Rs 60 discount over the issue price, the retail investors will be offered the issue at a discount of Rs 45 per equity share

The Rs 21,000 crore initial public offer (IPO) of Life Insurance Corporation of India LIC IPO Date will open for subscription on May 4. Ahead of the IPO, the public sector insurance behemoth has raised Rs 5,627 crore from anchor investors, allotting around 59.3 million shares to 123 investors at Rs 949 per share.

While LIC policyholders are entitled to Rs 60 discount over the issue price, the retail investors will be offered the issue at a discount of Rs 45 per equity share. The minimum bid lot is 15 shares and in multiples of 15 equity shares thereafter. So, should you invest in India’s largest public offer till date? Here’s what brokerages suggest.

Angel One

Valuations factor in most of the negatives. Expected improvements in product mix and greater transfer of surplus to shareholders account over the coming years are expected to drive profits from current low levels, which along with cheap valuations provide comfort. Moreover, the discount of Rs 45 and Rs 60 for retail investors and LIC policyholders makes the issue more attractive for them. Hence, we are assigning a subscribe recommendation.

No fireworks for Israeli Independence Day celebrations over PTSD concerns

 Israel marks 74 years since its creation on Thursday, and festivities begin the night before

Israel’s raucous Independence Day celebrations will be a little quieter this year. Although fireworks are typically a mainstay at parties across the country, this year many of the glittering yet noisy displays have been cancelled over concerns by some military veterans who say the cracking and banging dredges up the horrors of battle, especially for those with post-traumatic stress disorder.

The barrage of fireworks is the same as a burst of gunfire for us, Ehud Amiton, a former soldier with PTSD who has worked to cancel the firework displays, told Israeli Army Radio Monday. We don’t oppose the celebrations, we oppose the noise. Israel marks 74 years since its creation on Thursday, and festivities begin the night before.

The country’s main ceremony in Jerusalem, which usually boasts a grandiose fireworks finale will instead hold a silent pyrotechnic show. The seaside metropolis of Tel Aviv, where residents climb to rooftops to watch the glittering display, has also scrapped fireworks this year. Israel’s Culture Minister Chili Tropper announced last month that he was siding with the veterans, saying it was Israel’s duty to respect the former fighters and recognize their struggle with PTSD, especially as the country marks its Independence Day….Read More

China’s stringent Covid curbs threatens to derail world’s emerging markets

 Fresh Covid outbreaks are spooking global investors who fear shutdowns in China will echo across the world by lowering demand and disrupting supply chains

A widespread selloff in China is rippling through emerging markets, threatening to snuff out growth and drag down everything from stocks to currencies and bonds. Fresh Covid outbreaks — and the government’s stringent policy to contain them — are spooking global investors who fear shutdowns in China will echo across the world by lowering demand and disrupting supply chains. That’s pushing them to sell not just China’s currency, bonds and stocks but the assets of any developing nation which relies heavily on trade with the second-biggest economy.

The result is the sharpest slide in emerging markets in two years, not unlike the meltdown in 2015 when China’s woes led to a rout in their bonds and currencies, besides wiping out $2 trillion from equity values. Since then, the country’s influence on the global economy has only grown: It’s now the largest buyer of commodities, meaning its slump may impact exporters of raw materials and their markets more than ever. “Given China’s importance in global supply chains and importance to global growth prospects, further disappointments in the nation’s growth may lead to more contagion risk,” Johnny Chen and Clifford Lau, money managers at William Blair Investment Management in Singapore, wrote in an email. “We see countries with high trade linkages to China as being the most vulnerable.”…

Patel statue will become symbol of relationship between India, Canada: PM

 This statue of Sardar Patel in Sanatan Mandir will not only strengthen our cultural values but also become a symbol of the relationship between the two countries: PM Modi

Prime Minister Narendra Modi on Sunday said the statue of Sardar Patel will become a symbol of the relationship between the two countries — India and Canada. Addressing the Sanatan Mandir Cultural Centre (SMCC) at Markham in Ontario in Canada on the occasion of inauguration of Sardar Patel’s Statue there through a video message, he said: “This statue of Sardar Patel in Sanatan Mandir will not only strengthen our cultural values but also become a symbol of the relationship between the two countries.”

Conveying his greetings on Azadi ka Amrit Mahotsav and Gujarat Day, he said Indians might live anywhere in the world for any number of generations but their Indian-ness and loyalty towards India never diminishes. Indians, the Prime Minister said, work with full dedication and integrity for the country, and carry their democratic values and sense of duty with them….

Bihar only have labourers, not companies, claims JD-U MP Giridhari Yadav

 The statement came at a time when Chief Minister Nitish Kumar and Industry Minister Syed Shahnawaz Hussain are inviting industries to come in Bihar

Employment in bihar : JD-U MP Giridhari Yadav has put a question mark on his own government and has claimed that Bihar only have labourers and not companies. The statement from Banka MP came during the inspection of an under construction road bridge on Ganga river which collapsed at Sultanpur. Around 50 meters of the bridge collapsed amidst a strong wind on Saturday evening. The bridge will connect Bhagalpur district with adjoining Khagaria.

“We were expecting that the bridge will be built soon but such an incident will delay the project. It is a matter of investigation; and accountability should be fixed on the company. The contract for the construction of the bridge is given to a company which does not belong to Bihar. Here in Bihar, we have laborers but not companies,” Yadav said. The statement came at a time when Chief Minister Nitish Kumar and Industry Minister Syed Shahnawaz Hussain are inviting industries to come in Bihar. Recently, a Pepsi plant was inaugurated in Begusarai and an ethanol plant in Purnea on Saturday.

Nearly half of Elon Musk’s 90 million Twitter followers are ‘fake’

 According to Twitter auditing tool SparkToro, of Musk’s 87.9 million followers (at the time of the research audit), roughly 48 per cent are fake, reports Time

As Tesla CEO and soon-to-be Twitter boss Elon Musk aims to crack down on spam bots, nearly half of his own followers on the micro-blogging platform are fake. According to Twitter auditing tool SparkToro, of Musk’s 87.9 million followers (at the time of the research audit), roughly 48 per cent are fake, reports Time. These are the accounts that are “unreachable and will not see the account’s tweets because they’re spam, bots, propaganda, etc. or because they’re no longer active on Twitter”. Musk currently has nearly 90 million followers on Twitter.

He has nearly 7 per cent more fake followers than the median 41 per cent accounts with a similar sized followings have, according to SparkToro. The auditing tool found that “accounts that are on an unusually small number of lists, accounts that have no url or a non-resolving url in their profile, and accounts that have a suspiciously small number of followers were some of the most frequently observed traits of a sample of 2,000 random accounts from the most recent 100,000 accounts that followed Musk”….

Afghanistan gets over $760 mn in cash aid to fight poverty, food shortage

 The aim of the international aid has been to prevent widespread poverty and food shortages in the country hit by a devastating humanitarian crisis since the Taliban takeover in August last yeara

Afghanistan has received over USD 760 million in cash as humanitarian assistance from the international community, the country’s central bank informed, adding that the money donated is beneficial in maintaining the value of the Afghan currency. “In total, USD 761.6 million has been delivered. This aid preserves the value of the Afghani,” Saber Momand, Da Afghanistan Bank’s (Central Bank of Afghanistan) spokesperson was quoted as saying by Tolo News.

The aim of the international aid has been to prevent widespread poverty and food shortages in the country hit by a devastating humanitarian crisis since the Taliban takeover in August last year.However, some locals allege that the aid is not being donated in a fair manner, Tolo News reported. “Donations come but they do not give it to us. There are representatives of the people in our area who say that if you share fifty per cent of the aid with us, I will put your name on the list. If you do not, I will not take your name,” Mirajan, a worker was quoted as saying.