India To Be Fastest Growing Market In 20 Years, TATA SONS CHIEF says...!!!

India To Be Fastest Growing Market In 20 Years,

Says N Chandrasekaran

Business | Press Trust of India | Updated: November 29, 2017 21:08 IST

Tata companies should use the opportunity to make investments, says the group's chief.

Mr Chandrasekaran accepts that Tata group companies need some level of consolidation.
New Delhi: No other market is going to grow faster than India in the next 10-20 years and Tata companies should use the opportunity to make investments and take part in and contribute to India's growth story, according to the group's chief N Chandrasekaran.
At the same time, "some level of consolidation is essential" for the salt-to-software conglomerate, which saw 64.1 per cent of its total revenues in 2016-17 from global operations in over 100 countries, he observed.
"No other market, I believe, is going to grow faster than India in the next 10-20 years. Considering our demographic profile, we will have a consumer population that is going to have higher spending power," Chandrasekaran said in an interview to the group's in-house magazine Tata Review.
Stressing that India is "a massive market, the biggest game in town", he said, "The opportunity for many of our businesses in India is fantastic. They should use this opportunity to make investments and participate in and contribute to India's growth story."
He, however, said different firms of the Tata group need to understand their individual domestic prospects, because all of them may not have the same growth opportunities.
"Each will need to craft its own strategy and this will have to be company specific," Chandrasekaran added.
In 2016-17, Tata group's international revenues were at $64.40 billion, 64.1 per cent of total $100.39 billion.
The UK and the US were two main overseas revenue contributors.
When asked about the 'constant criticism' of the Tata group being too widespread which prevented it from capitalising fully on its potential, he said, "There is definitely some truth in that.

"We have far too many companies in the Tata group and some level of consolidation is essential. Our aim should be to achieve the optimal level of consolidation without losing the entrepreneurial spirit we are famous for."
Chandrasekaran, however, said the management has not worked out all the details about the consolidation.
"We have our thoughts on this and we will consider them carefully," he said.
After taking over as chairman of Tata Sons, the holding company of major Tata companies, in February this year, the seasoned marathoner has been on a sprint to address pressing issues that "required priority intervention".
Citing examples of Tata Steel-Thyssenkrupp merger and the Tata Teleservices-Bharti deal, he said, "Suffice to say, we are focused on the issues that need our attention."
"Overall, it has been a good experience thus far," he said about his stint as the Tata group chief.
Highlighting the significance of digitisation and how the world was changing rapidly, Chandrasekaran said Tata companies have to think through their digital journey.
"They have to understand what it means to them, be open enough to adopt and adapt, and make the necessary adjustments in their business models. We will definitely engage with our companies and bring them the necessary tools to get them started on this journey," he said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
https://www.ndtv.com/business/india-to-be-fastest-growing-market-in-20-years-says-n-chandrasekaran-1781592

What! This Samsung technology can charge your smartphone battery in just 12 minutes.

Samsung has a new technology and it gives your smartphone battery 5 times the charging speed. The new technology by Samsung is called as "graphene ball" and it increases the charging speed of your phone.

Samsung has claimed that theoretically, graphene ball-based batteries need just 12 minutes to fully charge.

Samsung has a new technology and it gives your smartphone battery 5 times the charging speed. The new technology by Samsung is called as “graphene ball” and it increases the charging speed of your phone. The new feature also spikes the battery capacity by a whopping 45 percent. The new material is called graphene which is an allotrope of Carbon. It has long been considered to be an alternative to Silicon and other forms of carbon, especially for processors and batteries. Now, the Korean electronics giant has discovered a great potential for it.

Samsung’s graphene ball technology has the potential to be used in the next generation of smartphone batteries, the company has revealed in a press release. The development avenues, according to Samsung, include mobile devices and electric vehicles. The technology was developed by researchers at the Samsung Advanced Institute of Technology (SAIT), in collaboration with Samsung SDI and the Seoul National University’s School of Chemical and Biological Engineering. The company has claimed that theoretically, graphene ball-based batteries need just 12 minutes to fully charge. This means it could turn out to be revolutionary for both smartphones and electric vehicles.

Samsung has said that when compared to the usual lithium-ion powered batteries, graphene ball-based batteries are cooler while running and can maintain a stable temperature of 60-degrees Celsius. It could help in “stable battery temperatures [are] particularly key for electric vehicles.”

Samsung has explained the technology as: “This ‘graphene ball’ was utilised for both the anode protective layer and cathode materials in lithium-ion batteries. This ensured an increase of charging capacity, a decrease of charging time as well as stable temperatures.”

Meanwhile, Dr Son In-hyuk, who led the project for SAIT, said, “Our research enables mass synthesis of multifunctional composite material graphene at an affordable price. At the same time, we were able to considerably enhance the capabilities of lithium-ion batteries in an environment where the markets for mobile devices and electric vehicles is growing rapidly.”

http://www.financialexpress.com/industry/technology/what-this-samsung-technology-can-charge-your-smartphone-battery-in-just-12-minutes/953047/

North Korea fires ballistic missile, says report.

North Korea fired a ballistic missile, South Korean news agency Yonhap reported on Wednesday

North Korea fired a ballistic missile on Wednesday, two U.S. government sources said, a week after President Donald Trump put North Korea back on a U.S list of countries that it says support terrorism. Later, the Pentagon said that it had detected a “probable” missile launch from North Korea. “We detected a probable missile launch from North Korea. We are in the process of assessing the situation and will provide additional details when available,” Pentagon spokesman Colonel Robert Manning told reporters.

He said the probable launch was detected at 1:30 p.m. EST (1830 GMT).

The missile flew to the east and the South Korean military is analyzing details of the launch with the United States, according to a report from South Korean news agency Yonhap, citing South Korea’s Joint Chiefs of Staff.

NHK in Japan, citing the defense ministry, reported that the missile may have landed in the water of Japan’s exclusive economic zone.

The U.S. source told Reuters no further details were immediately available. Asahi Shimbun in Japan also reported that North Korea had fired a ballistic missile early on Wednesday.

U.S. stocks pared gains after reports of the missile launch. The S&P 500 index was up half a percent in midafternoon.

Two authoritative U.S. government sources said earlier that US government experts believed North Korea could conduct a new missile test within days, in what would be its first launch since it fired a missile over Japan in mid-September.

The U.S. officials declined to say what type of missile they thought North Korea might test, but noted that Pyongyang had been working to develop nuclear-tipped missiles capable of hitting the United States and had already tested inter-continental ballistic missiles.

After firing missiles at a rate of about two or three a month since April, North Korea paused its missile launches in late September, after it fired a missile that passed over Japan’s northern Hokkaido island on September 15.

Last week, North Korea denounced Trump’s decision to relist it as a state sponsor of terrorism, calling it a “serious provocation and violent infringement.”

The designation allows the United States to impose more sanctions, though some experts said it risked inflaming tensions.

Trump has traded insults and threats with North Korean leader Kim Jong Un and warned in his maiden speech to the United Nations in September that the United States would have no choice but to “totally destroy” North Korea if forced to defend itself or its allies.

Washington has said repeatedly that all options are on the table in dealing with North Korea, including military ones, but that it prefers a peaceful solution by Pyongyang agreeing to give up its nuclear and missile programs.

To this end, Trump has pursued a policy of encouraging countries around the world, including North Korea’s main ally and neighbor, China, to step up sanctions on Pyongyang to persuade it to give up its weapons programs.

North Korea has given no indication it is willing to re-enter dialogue on those terms.

North Korea defends its weapons programs as a necessary defense against US plans to invade. The United States, which has 28,500 troops in South Korea as a legacy of the 1950-53 Korean war, denies any such intention.

http://www.financialexpress.com/world-news/north-korea-fires-ballistic-missile-says-report/951728/

Analyst jokes Elon Musk will make it to Mars with SpaceX before Tesla is profitable.

One of the largest German banks, Nord/LB initiated coverage of Tesla not only with a sell rating, but with jabs at CEO Elon Musk.

"You have to ask yourself what will happen first: that Elon Musk will fly to Mars with SpaceX, or that he will finally operate Tesla in the black," joked analyst Frank Schwope on Tuesday.

Schwope set a $270 price target, implying 15 percent downside over the next 12 months.

 

Elon Musk, CEO of Tesla.

It appears even international analysts are poking fun at Tesla's Elon Musk.

German bank Nord/LB initiated coverage on car-maker not only with a sell rating, but with quips making fun of the company's top executive.

"You have to ask yourself what will happen first: that Elon Musk will fly to Mars with SpaceX, or that he will finally operate Tesla in the black," joked analyst Frank Schwope on Tuesday, according to a translation of the note, which was written in German. "We consider it a big mistake that Tesla and Elon Musk do not concentrate on a few important things, but instead appear to do everything a little bit, but nothing all the way through."

SpaceX — a private aerospace and space transport company — is also headed by Musk. That company has also been making headlines for its independent ventures into space as well as goals to colonize Mars.

But in the public sphere, one of the problems with Tesla may not be in its innovative character, but rather in its apparent inability to "drill down" on production, according to the analyst. Schwope set a $270 price target, implying 15 percent downside over the next 12 months.

Shares of Tesla traded around flatline Tuesday.

Tesla has struggled to convince Wall Street the car company's finances our sound while production bottlenecks and persistent deficits beleaguer Musk's innovative goals. Echoing doubts of other Street analysts, Schwope argued that Tesla isn't in a position to sell 500,000 cars in 2018 and is unlikely to operate profitably before 2020.

The company remains a popular target of short sellers, who bet that Tesla shares are destined to fall over the next few months. Though Tesla stock remains up nearly 50 percent year to date, shares have slipped more than 8 percent in the last three months. The company recently unveiled a semi truck as well as a sporty new roadster.

"Tesla stock is an extreme bet on the future," continued Schwope. "The share development depends on the transformation of the company from a small premium manufacturer with five-digit sales figures to a mass manufacturer with figures in the six-digit or millions range. "

"We don't see Tesla as a tough competitor of the established automakers, but rather as a trailblazer that will push long-established companies to boost their performance."

The analyst noted that he views Tesla's $50 billion market cap is overvalued. -- With reporting by Spencer Kimball

https://www.cnbc.com/2017/11/28/analyst-jokes-musk-will-make-it-to-mars-before-tesla-is-profitable.html

From Chaiwala to Beacon of Democracy: How Ivanka Trump described ‘extraordinary’ story of PM Modi.

From Chaiwala to Beacon of Democracy: How Ivanka Trump described ‘extraordinary’ story of PM Modi.

GES 2017: Ivanka Trump on Tuesday heaped praise on Prime Minister Narendra Modi at the Global Entrepreneurship Summit 2017.

GES 2017: Ivanka Trump on Tuesday heaped praise on Prime Minister Narendra Modi at the Global Entrepreneurship Summit 2017. While highlighting the extraordinary rise of PM Modi from humble background to the prime minister of world’s largest democracy, the US first daughter and official advisor of her father US President Donald Trump, Ivanka said, “…And thank you, Prime Minister Modi, for joining us here today – and for all that you are doing to build India as a thriving economy – a beacon of democracy – and a symbol of hope to the world. What you are achieving is truly extraordinary.”

“From your childhood selling tea to your election as India’s Prime Minister, you’ve proven that transformational change is possible. And now you are bringing that promise to hundreds of millions of people across your country. Thank you,” she said.

Ivanka said she is confident that India will continue to grow under the leadership of PM Modi. “Through your own enterprise, entrepreneurship, and hard work, the people of India have lifted more than 130 million citizens out of poverty – a remarkable improvement, and one I know will continue to grow under the leadership of Prime Minister Modi.”

“All of you are helping India’s middle class reach its goal of nearly 500 million people by 2030. You have opened new universities across the Country. Your doctors and scientists are discovering medical cures and life-saving technologies. Your engineers and architects have built modern wonders that grace your skies. And Indian spacecraft have traveled to the Moon and to Mars.”

India is hosting the Global Entrepreneurship for the first time. Ivanka said the people of India “inspire” her. She also noted that the GES highlights the strong relationship shared by the US and India.

“This is the first time India has hosted the Global Entrepreneurship Summit. It is a symbol of the strengthened friendship between our two peoples, and the growing economic and security partnership between our two nations. As President Trump said earlier this year: India has a true friend in the White House,” Ivanka said.

Ivanka had special praise for the historical city of Hyderbabad- the city known for pearls and biriyani and now transformed into a global tech centre.

“It’s wonderful to be in this ancient city (Hyderabad) brimming with transformative technology – now, your tech centers may even outshine your world-famous Biryani. CEOs like Microsoft’s Satya Nadella went to school right here in Hyderabad. Just a few kilometers away, T-hub’s brand new facility is set to open next year – and will become the largest incubator in Asia.

“In this “City of Pearls” the greatest treasure is YOU – the dreamers, innovators, entrepreneurs, and leaders who never give up – never abandon your aspirations – and always strive for a better tomorrow,” Ivanka said.

http://www.financialexpress.com/india-news/from-chaiwala-to-beacon-of-democracy-how-ivanka-trump-described-extraordinary-story-of-pm-modi/951449/

Flipkart founders SACHIN, BINNY BANSAL booked for alleged CHEATING.

Flipkart founders SACHIN, BINNY BANSAL booked for alleged CHEATING.

The cheating case pertains to non-payment of Rs9.96 crore in dues by Flipkart to C-Store Company for laptops it supplied.

Bengaluru: A first investigation report (FIR) has been filed against Flipkart founders Sachin Bansal and Binny Bansal and a few other company officials for allegedly “cheating” a businessman of Rs9.96 crore, police said on Monday.

The cheating case pertains to non-payment of dues by Flipkart to C-Store Company for laptops it supplied, officials at Bengaluru’s Indiranagar police station said. They said an FIR has been registered against Flipkart’s Sachin Bansal, Binny Bansal (not related) and a couple of company officials, based on complaint by C-Store Company’s Naveen Kumar.

According to the complaint, C-Store had entered into a contract with Flipkart for supply of laptops along with other electronic goods for its sale, and had supplied about 14,000 laptops, police said. Flipkart, which returned about 1,480 units,did not pay for the remaining, the complainant said, adding that the other charges, including shipping had also not been paid. The complaint alleges that there has been cheating to the tune of Rs9.96 crore, police said.

A case has been booked under different sections of the Indian Penal Code, including cheating and criminal breach of trust, an official involved in the investigation said. When contacted for comment, Flipkart said it did not wish to respond at that time.

What cash prize did Manushi Chhillar win after she clinched the coveted Miss World 2017 ...?

You won’t believe what amount of cash prize money Manushi Chhillar won after clinching Miss World 2017 crown!

Have you ever wondered that apart from the prestigious crown, what cash prize did Manushi Chhillar win after she clinched the coveted Miss World 2017 beauty contest title?

By: FE Online | Published: November 27, 2017 4:08 PM

Haryana-born Indian girl is now Miss World 2017. Manushi Chhillar made India proud after she won the coveted Miss World 2017 crown at a grand event in China, bringing to an end the country’s dry spell of 17 years at the top pageant. But, have you ever wondered that apart from prestigious crown what cash prize did Manushi Chhillar win after she clinched the coveted Miss World 2017 beauty contest title? Reportedly, Manushi Chhillar won a whopping amount of Rs 10 crore cash prize after bagging Miss World 2017 contest, as per a report in Daily Bhaskar. The 20-year-old girl from Haryana, who is a medical student, had edged out top five contestants from England, France, Kenya and Mexico. The first and the second runners-up were Miss England Stephanie Hill and Miss Mexico Andrea Meza. Manushi Chhillar is the sixth Indian to win the coveted crown, which was first won by Reita Faria back in 1966. Aishwarya Rai had bagged the title in 1994, followed by Diana Haydon in 1997, Yukta Mookhey in 1999 and Priyanka Choprain 2000, the last for India.

In the top five round, Manushi Chhillar was asked which profession according to her deserved the highest salary. “I think a mother deserves the highest respect and when you talk about salary it’s not always about cash but I feel it’s the love and respect that you give to someone. My mother has always been the biggest inspiration in my life. All mothers sacrifice so much for their kids. So, I think it is the job of a mother that deserves the highest salary,” Chhillar said to a wide-applause.

According to Chhillar’s profile on the Miss World website, she aims to be a cardiac surgeon and wants to open a chain of non-profitable hospitals based in rural areas. A trained Indian classical dancer, Chhillar has a passion for outdoor sports and actively participates in paragliding, bungee jumping, snorkelling and scuba diving besides sketching and painting.

Manushi Chhillar was presented the crown by Stephanie Del Valle, the last year’s Miss World winner from Puerto Rico at the event in Sanya City Arena in China which was televised live globally.

http://www.financialexpress.com/india-news/manushi-chhillar-miss-world-2017-cash-prize-money-amount/949527/

LIGHT POLLUTION rises on a global scale.

LIGHT POLLUTION  rises on a global scale.

Researchers say satellite data shows that Earth’s artificially lit outdoor surface at night grew by about 2% annually in brightness and area from 2012 to 2016.

With few exceptions, growth in night time light was observed throughout South America, Africa and Asia. 

Washington: The world is getting brighter, but scientists say that may not be a good thing.

Researchers said on Wednesday satellite data showed that Earth’s artificially lit outdoor surface at night grew by about 2% annually in brightness and area from 2012 to 2016, underscoring concerns about the ecological effects of light pollution on people and animals.

The rate of growth observed in developing countries was much faster than in already brightly lit rich countries.

The researchers said the US National Oceanic and Atmospheric Administration weather satellite data may understate the situation because its sensor cannot detect some of the LED lighting that is becoming more widespread, specifically blue light.

“Earth’s night is getting brighter. And I actually didn’t expect it to be so uniformly true that so many countries would be getting brighter,” said physicist Christopher Kyba of the GFZ German Research Centre for Geosciences, who led the research published in the journal Science Advances.

With few exceptions, growth in night time light was observed throughout South America, Africa and Asia. Light remained stable in only a few countries. These included some of the world’s brightest such as Italy, Netherlands, Spain and the United States, although the researchers said the satellite sensor’s “blindness” to some LED light may mask an actual increase.

Australia’s lit area decreased due to wildfires. Night time light declined in war-hit Syrian and Yemen.

Ecologist Franz Hölker of Germany’s Leibniz-Institute for Freshwater Ecology and Inland Fisheries (IGB) said light pollution has ecological consequences, with natural light cycles disrupted by artificial light introduced into the nighttime environment. Increased sky glow can affect human sleep, he noted.

“In addition to threatening 30 percent of vertebrates that are nocturnal and over 60 percent of invertebrates that are nocturnal, artificial light also affects plants and microorganisms,” Hölker said. “It threatens biodiversity through changed night habits, such as reproduction or migration patterns, of many different species: insects, amphibians, fish, birds, bats and other animals.”

Kyba said nighttime lighting also obscures the stars that people have witnessed for millennia.

Experts had hoped the growing use of highly efficient LED lighting might lessen energy usage worldwide. The new findings indicate use of artificial lighting instead is growing, increasing energy demand.

“While we know that LEDs save energy in specific projects, for example when a city transitions all of its street lighting from sodium lamps to LED, when we look at our data and we look at the national and the global level, it indicates that these savings are being offset by either new or brighter lights in other places,” Kyba said. Reuters

http://www.livemint.com/Science/RuG3vXyVecpe39llWEb39N/Light-pollution-rises-on-a-global-scale.html

Steps to Financial Success, by Nobel Prize winning economists..!!!

4 steps to financial success, from Nobel Prize-winning economists

Published: Nov 25, 2017 10:28 a.m. ET By STACY RAPACON

Our brains often work against us when it comes to money

University of Chicago Professor Richard Thaler was awarded a Nobel Prize for his research in the field of behavioral economics. Thanks in part to Thaler’s research, many companies now automatically enroll employees into a 401(k) retirement plan.

You may not know him, but the latest Nobel Prize winner knows a lot about your relationship with money. Professor Richard Thaler, author of the best-selling book “Nudge,” was awarded the prize in October for his contributions to the field of behavioral economics—essentially, the study of how and why we make real-life financial decisions.

A lot of behavioral economists’ research centers around the fact that we’re pretty much hard-wired to go against sound economic reasoning and to make a big mess of our finances. But we’re not doomed to failure. We can use what they’ve learned about how our brains work—for and against us—to set ourselves up for success.

Here are four ways Nobel Prize winners say we can do just that.

1. Automate your way to wealthy.

The status quo bias is our tendency to leave things as they are, which, depending on the circumstances, can work in our favor. Thanks in part to Thaler’s research, many companies now automatically enroll employees into a 401(k) retirement plan—giving you an option to opt out rather than in (with the knowledge that most people won’t)—and defaulting to a set contribution. Stick with the default (a natural instinct) and you’ll still end up on the right course. Even better, a majority of firms that automatically enroll participants also default them into automatic escalation programs that increase contributions annually.

The benefits of automation extend well beyond retirement savings: Setting up automatic transfers to savings and other investment accounts, as well as putting your bills on auto-pay, can also ensure you stay on track.

2. Ignore bad nudges.

Automatic enrollment in a 401(k) is a good nudge. But there are bad ones, too, which use our status quo bias against us. For example, you might one day see an offer for a free trial for some subscription service if you supply your credit card number to get started. Sounds like a good deal, and you’ll definitely remember to cancel—except you don’t, and bam! You’re hit with a charge as soon as the trial ends.

That company was banking on inertia to keep you enrolled long enough to charge you. Knowing that, be wary of signing up for such “good deals” unless you’re interested in using the service long term. Or create alerts to remind you to cancel in time.

3. Stop obsessively checking your investments.

As long-term investors, what happens to our investments today doesn’t really matter—so peeking at your portfolio all the time is unnecessary and potentially dangerous. In his book “Thinking, Fast and Slow,” psychologist Daniel Kahneman—who won the 2002 Nobel Prize in economics—writes: “Closely following daily [stock market] fluctuations is a losing proposition, because the pain of the frequent small losses exceeds the pleasure of the equally frequent small gains.”

That loss aversion—our tendency to feel more pain with losing than pleasure with winning—might prompt us to cut and run during a market down day. Better to limit our exposure (quarterly check-ins work just fine) and exercise our status quo bias in this instance.

4. Stick with your strategy.

Another common bias is called herd mentality, which was on full display on October 19, 1987 (aka Black Monday), as investors charged out of the market and stocks fell by more than 20%—the largest one-day drop in history. Economist Robert J. Shiller, who won the Nobel Prize in 2013, surveyed investors afterward and concluded that “the 1987 stock market fall was a panic caused by fear and based on rumors, not on real danger.”

Dr. Robert J. Shiller, 2013 Nobel Laureate for Economic Sciences.

What’s the best way to fight the urge to follow the crowd and panic sell? Equip yourself with a solid investment strategy, tailored to your goals, risk tolerance and timeline—one that you can stick with no matter what. That way, you can confidently allow the status quo bias to take over regardless of what’s going on with the market that day.

In fact, even on Black Monday, Shiller’s broker told him not to worry. “The market began rising later that week, and in retrospect, stock charts show that buy-and-hold investors did splendidly if they stuck to their strategies,” writes Shiller.

Read the original article on Grow.

https://www.marketwatch.com/story/4-steps-to-financial-success-from-nobel-prize-winning-economists-2017-11-24

Jindal Steel and Power Ltd could win a slice of Rs3,000 crore tender for steel rails..!!

Jindal Steel could win a slice of Indian Railways’ global tender for steel rails: reportThe report says the Indian railways is considering using a clause in the tender that allows for a ‘developmental’ or a trial order of up to 20% of the steel to be awarded to a domestic manufacturer

JSPL says it has supplied 150,000 tonnes of rail to Iran since 2016. Photo: Bloomberg

New Delhi: A clause in India’s global tender for steel rails, part of a $130 billion overhaul of its railways, could help Jindal Steel and Power Ltd win up to 20% of the work, officials with direct knowledge of the matter said.

The world’s fourth-largest rail system is undergoing a five-year overhaul to replace ageing tracks, improve efficiency and end a spate of deadly train accidents, including one on Friday.

State-run Steel Authority of India Ltd (Sail) has struggled to supply the steel, however, and is expected to deliver 920,000 tonnes of it this financial year, just 65% of its target.

In response, the ministry of railways last month opened up a global tender for 717,000 tonnes of steel rail worth an estimated Rs3,000 crore ($464 million) to private bidders for the first time.

Global steelmakers such as ArcelorMittal and Thyssenkrupp could bid, as could Jindal Steel and Power, India’s only private producer of the steel.

India’s steel ministry has objected to the tender, pointing out that preference should be given to local suppliers in support of Prime Minister Narendra Modi’s drive to boost manufacturing.

Indian railways officials have also expressed concern that JSPL lacks experience building rails, three people with knowledge of the conversations told Reuters this month.

A senior railways official said any decision for the tender would depend on competitive bidding, which opens next month.

‘Developmental’ clause

However, Indian railways is considering using a clause in the 18 October tender that allows for a “developmental” or a trial order of up to 20% of the steel to be awarded to a domestic manufacturer, four officials with direct knowledge of the proposal said.

It can award that work even if the bidder “does not have proven performance of supply of rails”, according to the tender.

JSPL, which says it has supplied 150,000 tonnes of rail to Iran since 2016, did not respond to a request for immediate comment.

The railways ministry is likely to make a decision within two weeks and is keen to award work to JSPL in light of the government’s policy on local producers, two officials with knowledge of the discussions told Reuters.

The ministry did not respond to a request for immediate comment. Reuters

http://www.livemint.com/Companies/5WSCYvRI17IPiFeBQR5DBO/Jindal-Steel-could-win-a-slice-of-Indian-Railwaysglobal-te.html

Egypt Mosque attack kills 305...HEINOUS AND SHAMEFUL act of TERRORISTS...!!!

Egypt mosque attack kills 305; Army launches air strikes: Top developments

305 worshippers were killed and 109 others injured when heavily-armed militants opened fire on people attending Friday prayers

The Al Rawdah mosque in Bir al-Abed, west of El Arish, the main city in North Sinai’s branch is one of the Islamic State’s surviving branches following the collapse of its self-declared caliphate in Syria and Iraq. (Photo: Reuters)

At least 305 people were killed and 109 others injured in a gory terror attack on a mosque in Egypt's northern Sinai region on Friday, reported state media, making it one of the deadliest attacks on civilians in the country’s modern history.

Hours after the attack, which took place during Friday prayers, the Egyptian air force air force today gunned down several militants and destroyed their vehicles.

Here’s all we know so far:

1. At least 305 worshippers were killed and 109 others injured when heavily-armed militants bombed the al-Rowda mosque, affiliated with Sufi groups, in Al-Arish city and opened fire on people attending Friday prayers. The assailants planted a home-made explosive in the mosque in the town of Bir al-Abd, near Arish, and detonated them as worshipers were leaving after prayers. The gunmen also fired at ambulances transferring the injured to hospital, eyewitnesses said.

2. According to agency inputs, the air forces targeted a number of hideouts containing weapons and ammunition that belong to the extremists," military spokesman Tamer al-Refaay said in the statement. The army launched "immediate and wide" ground and air raids and two drones attacked two vehicles belonging to militants in Al-Resha village.

3. Following the mosque attack, Egypt President Abdel Fattah el- Sisi had chaired an emergency meeting with officials to review the security situation. In a statement later, he pledged to respond with "brutal force" against militants and said Egyptians will "derive hope and determination from such pain to triumph in the war against black terrorism".

4. Egypt has declared three days of national mourning. Abdel Fatah el-Sisi also ordered compensation of EGP 200,000 and EGP 50,000 to the families of the dead and injured, respectively.

5. The Indian government has dubbed the Egypt Mosque attack as 'heinous act of terror'. Ministry of External Affairs (MEA) Spokesperson Raveesh Kumar tweeted:

Raveesh Kumar

✔@MEAIndia

Government of Indian strongly condemns the heinous act of
terrorism that has claimed innocent lives in Bir-al-Abed, North Sinai in Egypt today. In this hour of tragedy, the goverment and the people of India stand by the government and the people of Egypt./1

10:01 PM - Nov 24, 2017

•  22 Replies
 
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Raveesh Kumar

✔@MEAIndia

We offer our deepest condolences to the families and friends of those affected in this attack.
This incident is another stark reminder of the need to develop a global strategy to fight this menace of terrorism./2

10:07 PM - Nov 24, 2017

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8. Congress President Sonia Gandhi on Saturday said such an attack is a reminder that terrorism remains a formidable challenge and calls for a concerted and sustained response from the global community. Expressing solidarity with the people of Egypt, Gandhi said it is an unacceptable act of brutal terror against innocent citizens.

7. US President Donald Trump condemned the attack as "horrible and cowardly". He tweeted:

Donald J. Trump

✔@realDonaldTrump

Horrible and cowardly terrorist attack on innocent and defenseless worshipers in Egypt. The world cannot tolerate terrorism, we must defeat them militarily and discredit the extremist ideology that forms the basis of their existence!

8:57 PM - Nov 24, 2017

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Donald J. Trump

✔@realDonaldTrump

Will be calling the President of Egypt in a short while to discuss the tragic terrorist attack, with so much loss of life. We have to get TOUGHER AND SMARTER than ever before, and we will. Need the WALL, need the BAN! God bless the people of Egypt.

12:19 AM - Nov 25, 2017

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8. Egypt's security forces have been fighting an Islamist insurgency based in the northern part of the Sinai Peninsula which has gained pace since the 2013 ouster of Islamist president Mohamed Morsi. The insurgency has mostly targeted security forces, with attacks on military and police checkpoints common place.

9. No group has claimed responsibility for the massacre.

10. The UN Security Council, while condemning the "heinous and cowardly terrorist attack", in a statement underlined the need to bring perpetrators, organisers, financiers and sponsors of these "reprehensible acts of terrorism" to justice. It urged all states to cooperate actively with the government of Egypt and all other relevant authorities in this regard. 

First Published: Sat, November 25 2017. 16:35 IST

http://www.business-standard.com/article/current-affairs/egypt-mosque-attack-kills-305-army-launches-air-strikes-top-developments-117112500148_1.html