Don’t meddle in inter-Korean relations: Pyongyang to US

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Don’t meddle in inter-Korean relations: Pyongyang to US

North Korea on Thursday warned the US not to meddle in inter-Korean relations if it wants to avoid experiencing an unspecified “hair-raiser” and hold November’s presidential election smoothly.

Kwon Jong-gun, Director General of the North Korean foreign ministry’s American affairs department, made the remark after Washington voiced disappointment over Pyongyang’s recent decision to cut off all communication lines with South Korea, reports Yonhap News Agency.

“If the US pokes its nose into others’ affairs with careless remarks, far from minding its internal affairs, at a time when its political situation is in the worst-ever confusion, it may encounter an unpleasant thing hard to deal with,” Kwon said in an interview with North’s state-run, Korean Central News Agency (KCNA).

“The US better hold its tongue and mind its internal affairs first if it doesn’t want to experience a hair-raiser. It would be good not only for the US interests but also for the easy holding of its upcoming presidential election,” he added.

Kwon did not elaborate on what the hair-raiser would be.

He told the KCNA that the US is showing a hypocritical attitude by expressing dissatisfaction over the latest inter-Korean situations given that Washington has been the one bent on hampering any progress.

“Disgusting is the double-dealing attitude of the US that feels uneasy over any slightest sign of the improvement in the inter-Korean relations and pretend to get very anxious if the relations get worse.

“How can the ‘disappointment’ touted by the US be compared with the extreme dismay and resentment we are feeling at the US and the South Korean authorities that have repeated betrayal and provocation for the last 2 years?” Kwon queried.

He was apparently referring to Washington’s staunch stance on keeping global sanctions on North Korea until its complete denuclearization, which stands in the way of active cross-border cooperation and exchanges, said the Yonhap News Agency report.

Nuclear talks between North Korea and the US have remained deadlocked since their no-deal summit in February last year as they failed to iron out differences over how to match Pyongyang’s denuclearization steps and Washington’s concessions, including sanction relief.

With little progress in nuclear talks, inter-Korean relations have stayed chilled.

Pyongyang has blamed Seoul for taking a cue from Washington in cross-border issues and has not responded to Seoul’s offers for talks and cooperation.

On Tuesday, North Korea called the South an “enemy” and cut off all inter-Korean communication lines.

The move came after Pyongyang repeatedly threatened last week to abolish an inter-Korean liaison office and completely shut down other major cross-border programs, denouncing leaflet-sending as a hostile act breaching a series of peace agreements between the two sides.

A US State Department official later told Yonhap News Agency that Washington has always supported progress in inter-Korean relations and expressed disappointment over the North’s latest actions.

US COVID-19 cases surpass 2 mn: Johns Hopkins University

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US COVID-19 cases surpass 2 mn: Johns Hopkins University

The number of COVID-19 cases in the US surpassed the 2 million mark on Thursday, according to the Johns Hopkins University.

As of Thursday morning, the overall number of cases stood at 2,000,464, the University’s Center for Systems Science and Engineering (CSSE) revealed in its latest update.

Meanwhile, the national death toll from the disease rose to 112,924, it added.

The two tallies currently account for the highest in the world, making the US the worst-affected by the global pandemic.

New York state, the epicenter of the pandemic in the US, remains the hardest-hit with 380,156 cases and 30,542 fatalities.

Other states with over 100,000 cases include New Jersey, California, Illinois, and Massachusetts, the CSSE data showed.

According to The Washington Post, since the start of June, more than a dozen US states, including Texas and California, have recorded their highest-ever seven-day average of new COVID-19 cases, partly caused by the protests against police brutality.

Hundreds of police deployed in Mexico protests

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Hundreds of police deployed in Mexico protests

At least 400 police officers were deployed in Mexico City during youth protests demanding an end to police violence and the immediate release of the country’s political prisoners.

Shortly after Wednesday afternoon, the representative office of Jalisco state in Mexico City, located in the affluent neighborhood of Polanco, became a bunker as protesters from various social organizations were expected to arrive, reports Efe news.

“We are demanding the dissolution of repressive bodies, the release of political prisoners, the punishment of perpetrators and the entire line of command that has sheltered these violent acts,” a member of the Accion Revolucionaria (Revolutionary Action) group told Efe.

The protesters demanded justice for the police custody deaths of the African-American George Floyd in the US, and of the Mexican Giovanni Lopez after being detained in Jalisco state for not wearing a mask, as well as the release of the lawyer Susana Prieto, who was detained in Matamoros.

They also marked the 49th anniversary of the 1971 student massacre known as “El Halconazo” or “The Corpus Christi Massacre”, considered the second most tragic after the Tlatelolco Massacre on October 2, 1968.

They reported that the police tried to intimidate them when they arrived.

On Wednesday, President Andres Manuel Lopez Obrador spoke out against the repression, recalling El Halconazo.

“No to repression, neither to students nor to any citizen. No to repression, no to torture, no to enforced or forced disappearances, no to massacres, no to violence,” he said.

Lopez Obrador indicated that his government seeks to resolve differences peacefully “and that the State, the State security forces should not be used to repress the people” since, he said, “that does not solve the problems; on the contrary, it complicates them”.

On June 5, dozens of protesters vandalized the US embassy in the Mexican capital, protesting the deaths of Floyd and Lopez.

They tried to tear down the metal fences that guard the embassy, hit the police and caused damage.

They then went to the headquarters of the government of Jalisco and destroyed shops and other properties in their wake, while a group of police officers allegedly beat a 16-year-old girl who was participating in the protest.

On Monday, during another march in the centre of Mexico City, protesters caused destruction and looting, which was condemned by Lopez Obrador, who proposed the creation of an unarmed peace group for the demonstrations.

Gambhir was massively inquisitive & totally obsessed with game: VVS

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Gambhir was massively inquisitive & totally obsessed with game: VVS

V.V.S Laxman on Thursday paid tribute to Gautam Gambhir, saying that the former Indian opener was totally obsessed with the game and never shied away from a challenge that came his way on the cricket field.

“Massively inquisitive and totally obsessed with the game, Gautam Gambhir never shied away from a challenge on a cricket field. Whether it was taking on express pace bowlers on spicy tracks overseas or standing up for a wronged teammate, he knew not what it was to back down,” Laxman said in a tweet.

Gambhir, who made his international debut for India in 2003, played 58 Tests, 147 ODIs, and 37 T20Is in which he scored 4154, 5238, and 932 runs respectively.

The former left-handed batsman was part of India’s successful campaign at the 2007 World T20 where he was the second-highest scorer in the tournament with 227 runs in seven innings. He scored 75 runs from 54 balls in the final against Pakistan which India won at the Wanderers.

His decisive knock in the final of the 2011 ODI World Cup, which India won beating Sri Lanka at the Wankhede, made him a national hero of sorts. The 38-year-old scored 97 runs off 122 balls as the MS Dhoni-led side ended India’s World Cup drought of 28 years.

Gambhir also led Kolkata Knight Riders to two Indian Premier League (IPL) titles in 2012 and 2014.

In December 2018, Gambhir announced his retirement from all forms of cricket and is now a BJP parliamentarian from the East Delhi constituency.

Apple first US company to hit $1.5 trillion market cap

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Apple first US company to hit $1.5 trillion market cap

Apple has become the first US company that reached $1.5 trillion market cap and according to the investors and analysts, strong App Store sales, ARM chips-run Macs and a 5G iPhone this fall are the reasons for the surge in stock of the Cupertino-based iPhone maker.

At a current price of $352 per share and 4.3 billion shares outstanding, Apple’s market cap hit around $1.53 trillion on Wednesday, reports Mac Rumors.

Riding on its growing services and wearables business, Apple may become the first company ever to touch the $2-trillion valuation mark in next four years, a top analyst forecast recently.

Apple was the first US company to cross the $1-trillion mark in 2018.

According to market research firm Evercore ISI, the Cupertino-based iPhone maker would also be the first firm to surpass $2 trillion, reports Barron’s.

In the Wearables business, the analyst expects growth to $60 billion owing to the expansion of AirPods and Apple Watch. The Services business could grow to $100 billion in the next four years.

The analyst expects Apple to continue aggressively buying back stock.

“Apple would reduce its share count by about 1 billion shares in the forecast period, from 4.6 billion at the end of fiscal 2019 to 3.6 billion in fiscal 2024.

“At that share count, the market cap would hit $2 trillion if the stock price was just over $550,” wrote Barron’s analyst Amit Daryanani.

As iPhones sale dip amid supply and demand uncertainties, Services segment is following a different trend for Apple, with strong year-over-year growth of 17 per cent and setting a new all-time revenue record of $13.3 billion in the company’s March quarter results this year.

The company saw all-time records in many of its Services categories – App Store, Apple Music, Video, cloud services, its App Store search ad business, AppleCare, Apple TV Plus, Apple Arcade, Apple News Plus and Apple Card.

Sri Lanka to hold parliamentary elections on Aug 5

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Sri Lanka to hold parliamentary elections on Aug 5

Sri Lanka is set to hold its parliamentary elections on August 5, the country’s National Election Commission (NEC) announced after it postponed the crucial polls twice due to restrictions linked to the COVID-19 pandemic.

“We couldn’t hold the election before because of coronavirus. We have done our best. The parliamentary general election that was to be held on June 20 will be held on August 5,” NEC Chairman Mahinda Deshapriya told reporters on Wednesday.

He added that the decision was taken unanimously by all three members of the NEC, reports Efe news.

The elections were initially set to be held on April 25, after President Gotabaya Rajapaksa dissolved Parliament in March following his landslide victory in the November 2019 presidential polls.

The date was shifted to June 20 after lockdown measures were announced in mid-March.

The island nation has registered 11 deaths and around 1,860 cases of the new coronavirus as of Wednesday, with the rate of infection slowing in recent weeks and no new fatalities reported since the beginning of the month.

Authorities have gradually eased restrictions since the later half of May, and currently travel restrictions were in force only between 11 p.m. and 4 a.m.

Former lawmaker Bimal Rathnayake told Efe news that holding the election could not have been avoided any further, as according to the constitution the parliament has to be reconvened within three months of its dissolution, a period which has already expired on June 2.

“We think, if the numbers we are seeing are true, the government has controlled the coronavirus outbreak in the country to some extent,” he said.

However some parties and citizens’ groups have opposed the move citing health risks.

The national coordinator of the Centre for Monitoring Election Violence, Manjula Gajanayake, told Efe that elections should be held aiming for “zero casualties”.

He put the estimated cost of the polls at 7 billion LKR ($38 million), although adding that “this could increase because we have to have sufficient procedure in place during the pandemic”.

This is a massive expenditure for an economy struggling to recover from the lockdown, with crucial sectors such as tourism completely grinding to a halt.

The elections are set be held under strict health protocols with campaign meetings limited to a maximum of 100 people, while the NEC has recommended using the print and electronic media for propaganda and cutting down physical meetings to avoid exposure to the virus.

The Commission has also limited house-to-house campaigns to a maximum of three people.

Gotabaya Rajapaksa was sworn-in as president after an easy victory in the November 16, 2019 polls on the back of an agenda focused on national security.

Soon after, he appointed his brother Mahinda Rajapaksa as the Prime Minister and dissolved the opposition-majority Parliament.

The President’s Sri Lanka Podujana Peramuna party has to win majority in the house in order to secure the government’s full control in the semi-presidential representative democracy.

‘Kehne Ko Humsafar Hain 3’ was challenging: Director

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‘Kehne Ko Humsafar Hain 3’ was challenging: Director

The audience has given thumbs-up to “Kehne Ko Humsafar Hain 3”, but helming the new season was not easy, confesses director Abhijit Das.

“There was a lot of pressure. I had to do the maximum amount of homework for this (season). It is one of Ekta Kapoor’s biggest franchises and it has a legacy I had to live up to. The challenge is always greater when you are handling such a franchise. To keep the interest alive, to do justice to the characters, and make it edgier keeping with the new age — everyone in the team is looking at you to deliver better than the earlier seasons,” Abhijit told IANS, about directing the third season of the show.

He describes the lead cast of Ronit Roy, Mona Singh and Gurdip Punjj as his “dream” team.

“They are my dream come true. This is my third venture with Gurdip. We worked together in ‘Sanjivani’ and a short film on the Lock down. She is fun to work with. It’s effortless doing a scene with her,” he said.

“Mona is a delight as an actor. She surrenders completely. I have seen very few actors who can give different minute nuances of emotions just by expressing,” he added.

Speaking of Ronit, Abhijit shared that he is no less than a surprise package.

“Ronit was a surprise every time I did a scene with him. He created a new dark and debauched Rohit Mehra. It was good on paper. Jaya Misra’s creation of the twisted Rohit Mehra was a far cry from (what the character was in) the first two seasons. But what Rohit brought to the table was something else. His voice. The stubble. The way he walked. It was all him. We would work on scenes and remove dialogues, for he would deliver all the words without saying anything. He is one of the most intelligent actors I have worked with,” Abhijit said.

Google takes down TikTok-clone Zynn from Play Store

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Google takes down TikTok-clone Zynn from Play Store

Google Play Store has removed Chinese video app Zynn, a clone of the hugely popular video app TikTok, following accusations of plagiarism.

Several TikTok users have reported that their entire account has been plagiarised. That includes profile pictures, names, and the above-mentioned content, sometimes going back months, reports Wired.

Zynn arrived on iOS and Android in early May and quickly rose to the top of the download charts.

By the end of May, the app had become the most downloaded free iOS app and a top 10 download in the Google Play Store.

Part of the reason for this rapid growth is the app’s rewards program where users got paid for watching videos and also to get other users on the app.

Users earn $1 for signing up, $20 for the first person they get to join, and $10 for every five users afterward.

Google has yet to offer an explanation for the app’s removal. Zynn, however, is still available on iOS App Store.

Earlier, Google Play Store removed another TikTok rival app Mitron.

The app, which has been created by a developer from Pakistan, was removed as it violated Google’s ‘spam and minimum functionality’ policy.

UK’s Prince Philip celebrates quiet 99th birthday

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UK’s Prince Philip celebrates quiet 99th birthday

The UK’s Prince Philip celebrated a quiet 99th birthday at the Windsor Castle with his wife, Queen Elizabeth II while the country remained in lockdown due to the coronavirus pandemic.

On Wednesday, Buckingham Palace shared a photograph of the couple standing in the quadrangle of the royal residence last week as messages from well-wishers flooded in for the Duke of Edinburgh, reports Efe news.

“Wishing The Duke of Edinburgh a very happy birthday! His Royal Highness turns 99 today and will spend the day with The Queen at Windsor,” the Palace tweeted.

The post was accompanied by photographs of the couple together over the years and a black and white image of Philip in military uniform.

Prince Charles, the Duke’s eldest son and first in line to the British throne, and his wife Camilla also posted a public message and shared a black and white image of a younger father and son enjoying a boat ride and a more recent picture of the two in conversation.

“Wishing The Duke of Edinburgh a very happy 99th birthday!” their message said.

Prince William, Prince Philip’s grandson and second in line to the throne, and his wife Kate Middleton also took to social media to wish the Duke well as he moved one step closer to 100.

Birthday messages were not limited to members of the royal family with former football star David Beckham among those who wished him well.

Prince Philip and the Queen have been isolated at Windsor Castle, on the outskirts of London, since nationwide confinement measures came into effect in the UK in March.

Born in Greece to Greek and Danish royalty in 1921, Prince Philip’s family were later exiled.

He served in the British Navy during the Second World War where he first met and began corresponding with 13-year-old Elizabeth.

After the war he abandoned his Greek and Danish titles to become a British subject. He married Elizabeth at Westminster Abbey in 1947.

Elizabeth was crowned in 1953 after the death of her father, George VI, and Philip became the royal consort.

The Duke stepped down from official royal duties in 2017 and has dealt with an increasing number of health issues in his older age.

Disney to reopen California theme parks next month

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Disney to reopen California theme parks next month

Disney theme parks in Anaheim, California, will begin a phased reopening from July after being closed nearly three months due to the COVID-19 pandemic, the company said.

The Disneyland Resort, which is home to two theme parks — Disneyland Park and Disney California Adventure Park, will reopen on July 17, pending state and local government approvals, Xinhua news agency quoted the company as saying in a statement on Wednesday.

July 17 is the 65th anniversary of the opening of Disneyland Park.

Additionally, Downtown Disney District will begin reopening on July 9 and Disney’s Grand Californian Hotel & Spa and Disney’s Paradise Pier Hotel plans to reopen on July 23, said the company.

“Once approved, the Disneyland Resort will reopen with enhanced health and safety measures,” it added in the statement.

Certain experiences that draw large group gatherings, such as parades and night-time spectaculars, will return at a later date.

While character meet and greets will be temporarily unavailable, characters will be in the parks in new ways to entertain guests, the company said.

According to Disney, theme park capacity will be significantly limited to comply with governmental requirements and promote social distancing, and all guests will need to obtain a reservation for park entry in advance.

Disney announced at the end of last month that another flagship theme park in North America, the Walt Disney World in Orlando, Florida, will begin a phased reopening next month.

As a result of COVID-19, Disney closed its North American parks and resorts, cruise line business and Disneyland Paris in mid-March, while the company’s Asia parks and resorts were closed even earlier.

The Shanghai Disneyland reopened on May 11 under a slew of healthy and safety measures, becoming the first among six Disney theme parks worldwide to welcome visitors again.

The company said last month that COVID-19’s estimated impact on the US entertainment giant’s income from continuing operations before income taxes was as much as $1.4 billion during the second quarter for fiscal 2020.

Twitter to soon notify users to read articles before retweeting

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Twitter to soon notify users to read articles before retweeting

In a bid to reduce the spread of fake, harmful content and promote meaningful discussion on the platform, Twitter has announced to test a new feature that would encourage users to think before they retweet linked articles they did not read.

If a user decides to retweet a write-up without opening the link and reading it, Twitter would prompt him or her to read it first before sharing.

“Sharing an article can spark conversation, so you may want to read it before you Tweet it,” Twitter Support said in a tweet on Wednesday.

“To help promote informed discussion, we’re testing a new prompt on Android –– when you Retweet an article that you haven’t opened on Twitter, we may ask if you’d like to open it first” it added.

Kayvon Beykpour, who is Product Lead at Twitter, said that it’s easy for links/articles to go viral on Twitter.

“This can be powerful but sometimes dangerous, especially if people haven’t read the content they’re spreading. This feature (on Android for now) encourages people to read a linked article prior to Retweeting it,” he said.

A Twitter user replied: “A superb initiative. Rollout to iOS would be warmly welcomed”.

Last month, Twitter began a test that allows users to limit who can reply to their tweets on Android, iOS and web app.

Twitter is also testing a new option that will show its users posts has been retweeted with a comment.

The micro-blogging platform is currently testing the feature with a small group of iOS Twitter users.

EU countries move to further reopen borders

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EU countries move to further reopen borders

Some European Union (EU) member states have announced new steps to reopen their borders due to the improvement of the COVID-19 situation in their countries.

German Interior Minister Horst Seehofer announced on Wednesday that the country would on June 15 lift border controls, which have been implemented for three months since the coronavirus pandemic, reports Xinhua news agency.

Controls along Germany’s land borders with Switzerland, France, Austria, and Denmark will be lifted, and the government would reconsider its plans if the COVID-19 situation worsens, Seehofer said.

From June 16, EU citizens and Swiss nationals can enter Germany again unhindered, without controls or quarantine regulations, according to the federal government’s decision.

The decision has a few exceptions. For example, controls for foreigners arriving by plane from Spain will not end until June 21.

Danish Minister of Justice Nick Haekkerup said on Wednesday evening that the government has decided to reopen its border from June 15 for residents of the northernmost German state Schleswig-Holstein without restrictions.

The government has also expanded the list of “recognizable purposes” that allow foreigners to enter Denmark.

Starting from June 15, visits to Denmark by family members and business trips from other EU and Schengen countries as well as Britain will be allowed.

In addition, people residing in the EU and Britain who own holiday houses in Denmark or who can document that they are only being in transit in Denmark for vacation or tourism outside Denmark will also be allowed to travel in the country.

Hungary will also reopen all crossings along its border with Croatia from Friday, Minister of Foreign Affairs and Trade Peter Szijjarto said.

Hungarians and Croatians will be allowed to cross all seven border crossings without being required to go into quarantine, according to the Minister.

Poland will reopen its borders to other EU countries on Saturday, Prime Minister Mateusz Morawiecki announced.

The border reopening means that citizens of other EU countries can enter Poland again. Temporary passport checks, abolished in 2007 when Poland joined the Schengen area, will also be lifted.

The announcement came as the European Commission on June 5 requested member states to have their borders reopened by July 1.

International flights, which have been ceased apart from repatriation charter flights, will resume three days later, according to the announcement.

Big B-starrer ‘Chehre’ producer out to make more suspense thrillers

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Big B-starrer ‘Chehre’ producer out to make more suspense thrillers

The suspense drama “Chehre” starring Amitabh Bachchan is ready for release, and meanwhile, the film’s producer Anand Pandit is out exploring the genre with a couple of fresh scripts.

“I love scripts that have uncertainty and are not predictable because there is so much one can do with those (stories). I like it when my viewers are kept thinking of what’s going to happen next. To keep the audience guessing is an art and I love that challenge,” said Pandit.

The producer is looking at a two-month deadline to finish scripting and start working on both the movies.

“The movies are for theatre but will suit an OTT audience as well. After all, suspense thrillers are a big draw on OTT,” he said.

“I am looking forward to working with a brand new set of actors. New talent should be given a chance and the hunt is on, including online auditions from across the country,” said Pandit.

Priyanka Chopra: Miss you dad every single day

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Priyanka Chopra: Miss you dad every single day

Actress Priyanka Chopra Jonas has shared a note in memory of her father, on his seventh death anniversary.

The actress took to Instagram to pen her thoughts and share a monochrome photograph of her father, Ashok Chopra, from his youth. “We’re connected by heartstrings to infinity… Miss you dad, every single day,” she wrote.

Priyanka, who lost her father in 2013 to cancer, incidentally has a tattoo on her forearm that reads, “Daddy’s lil girl”.

Sometime back, on the occasion of USA’s Memorial Day, Priyanka had shared a picture of both her father and mother on social media, writing they had served in the Indian armed forces.

“Both my parents served in the Indian Army… and maybe that’s why I feel such a kinship with military families all over the world. Today let’s think of all the fallen heroes that have given their lives in service to protect our freedom,” Priyanka wrote and shared her parent’s throwback picture.

Restart Mumbai local trains for essential staff, Maha urges Centre

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Restart Mumbai local trains for essential staff, Maha urges Centre

The Maharashtra government on Wednesday reiterated its plea to the Centre to restart suburban train services, the lifeline of Mumbai, for people engaged in providing emergency services.

Chief Minister Uddhav Thackeray repeated the request which he has made a couple of times before to the Centre and to Prime Minister Narendra Modi.

The country’s commercial capital Mumbai and Mumbai Metropolitan Region comprising Mumbai, Thane, Palghar and Raigad districts are totally depending on the suburban trains, which transport over 85 lakh commuters daily.

“We want the local trains to start, but only for emergency services and the emergency service staffers in various departments,” Thackeray said.

At the same time, he hinted that if people don’t cooperate with the government in maintaining physical distancing, then the lockdown easing may be reviewed.

Transport Minister Anil Parab said it is necessary to resume train services for essential services like civic body staffers, hospital nurses, ward boys, conservancy and support staff, etc who need to commute long distance from their homes to workplaces through the suburban trains, which are the fastest and most reliable mode.

Housing Minister Jitendra Awhad made a similar demand, saying since service providers are not able to reach their hospitals, they cannot render critical life-giving services to the Covid-19 patients in the city.

Over 85 lakh people commute on the Central Railway and Western Railway on its 400 kms long network with 157 stations and more than 3,000 train services daily, serving the huge MMR population spread across over 6,300 square kms.

The MMR – comprising the four key districts – accounts for the maximum 2,216 Covid-19 deaths and 68,299 cases, followed by Pune.

S&P keeps India’s rating unchanged at ‘BBB-‘, outlook stable

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S&P keeps India’s rating unchanged at ‘BBB-‘, outlook stable

S&P Global Ratings on Wednesday maintained India’s sovereign credit ratings.

The rating agency affirmed its ‘BBB-‘ long-term and ‘A-3’ short-term unsolicited foreign and local currency ratings on India.

Besides, S&P Global Ratings said India’s outlook on the long-term rating is stable.

“The stable outlook reflects our expectation that India’s economy will recover following the containment of the Covid-19 pandemic, and the country will maintain its sound net external position,” the rating agency statement said.

“The stable outlook also assumes that the government’s fiscal deficit will recede markedly following a multi-year high in the fiscal year 2021 (ending March 31, 2021).”

In terms of the rating rationale, the agency said that it reflects the country’s above-average real GDP growth, sound external profile, and evolving monetary settings amongst others.

These are balanced against vulnerabilities stemming from the country’s low per capita income and consistently elevated fiscal deficits that contribute to high general government debt, net of liquid assets, it said.

“India’s economy will contract in fiscal 2021, largely owing to the impact of the Covid-19 pandemic. We forecast a 5 percent decline in real GDP growth, which would be the worst economic performance in recent history,” the statement said.

“The global economic downturn resulting from the pandemic, along with strict domestic measures aimed at containing the spread of the local epidemic, are hitting the economy hard, and will likely result in a significant fall in activity in the first quarter of this fiscal year (i.e., three months from April 1, 2020).”

As per the statement, productive capacity has been severely disrupted during this period, and millions of workers have left their jobs to return home, sometimes crossing the country to do so.

“India’s labor markets have therefore weakened dramatically, and may take some time to heal,” the statement said.

The development comes after Moody’s Investors Services downgraded India’s sovereign ratings as it sees challenges piled up on the country’s policymaking institutions to mitigate the risks of a sustained period of relatively low growth.

Consequently, Moody’s downgraded India’s foreign currency and local currency long-term issuer ratings to Baa3 from Baa2.

Tesla shares surpass record $1,000 mark for first time

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Tesla shares surpass record $1,000 mark for first time

Electric car maker Tesla’s stock surpassed the all-time high of $1,000 mark on Wednesday morning trades after its CEO Elon Musk said it was time to begin ‘volume production’ of its new commercial Semi truck.

Shares of the California-based Tesla were up nearly 7 percent 6.8% in the morning trade.

Wedbush analyst Dan Ives said that demand in China for Model 3 is going stronger than expected.

“We believe that the China growth story is worth at least $300 per share to Tesla as this EV penetration is set to ramp significantly over the next 12 to 18 months,” Ives wrote in a note to clients.

According to Tesla’s website, Semi is powered by four independent motors and requires the “lowest energy cost per mile”.

The truck was first unveiled in 2017.

Tesla’s Nevada factory would likely produce the truck’s battery and powertrain, while the remaining work will be carried out in other locations around the country, according to a memo Musk sent to Tesla employees, TheStreet reported on Wednesday.

“It’s time to go all out and bring the Tesla Semi to volume production,” Musk was quoted as saying in the email.

“It’s been in limited production so far, which has allowed us to improve many aspects of the design.”

The truck is slated to cost around $150,000 for the 300-mile model and around $180,000 for the 500-mile model, said the report.

Revanth Reddy’s new war with KCR and KTR

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Revanth Reddy’s new war with KCR and KTR

Telangana firebrand leader Revanth Reddy is at it again. Revanth, who is waging war with KCR and KTR, unleashed a new battle as he is fighting against KTR’s Janwada farmhouse. Following a complaint from MP Revanth Reddy who accused KTR of buying a 25 acre site in Osman Sagar catchment area and constructing building flouting rules of Government Order 111 that prohibits permanent structures in the catchment areas, the National Green Tribunal has served notices to KTR and ordered a probe.

While KTR has denied all the accusations and allegations, Revanth Reddy in his latest press conference blasted KTR. Alleging that KTR’s defense is pure lie, he demanded CM KCR to launch a detailed and unbiased probe into the matter.

He asked CM KCR to prove his credibility to Telangana society by ordering a probe into his son’s property. Raising concerns over the probe of municipal officials into Municipal Minister KT Ramarao, Revanth demanded KTR to step down from the post for two months for a fair and unbiased probe.

Meanwhile, Revanth blasted TRS MP Balka Suman and actor Posani Krishna Murali who came in support of minister KTR. Revanth shot back at KTR’s supporters saying that they are a group of “locusts” (Midathala dandu). Revanth alleged that KTR is sending “locusts, brokers and jokers” against him.

Meanwhile, Revanth has thrown a challenge to KTR. “This is a direct challenge. Even if you call me at midnight, I’ll directly come to my 20 guntas in Vattinagulapally. If there’s any sign post or any construction, I myself will demolish it with the help of hoe (paara in Telugu) and JCB,” said Revanth who further asked KTR to take him to Janwada farmhouse from there and find out about his “illegal” construction.

Equity indices end higher; banking, finance stocks rise

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Equity indices end higher; banking, finance stocks rise

The key Indian equity indices ended on a positive note on Wednesday after a sharp surge in the last 30 minutes of trade.

Healthy buying was witnessed in the banking and finance stocks. The S&P BSE Banking index rose by 1.79 percent and the Finance index settled 1.44 per cent higher.

Rahul Sharma, Head of Research, Equity Advisors said: “While Foreign Portfolio Investors remained active buyers in select private sector banks and NBFC stocks, traders and high-net-worth investors were seen chasing select state-owned companies, pharma and other beaten-down stocks.”

He noted that the overall market mood now has turned positive with the restriction on lockdown being gradually eased by the government across the country. Also, investor confidence is seen improving and most feel that worse is now behind us and the period of wait-and-watch is over for now, Sharma added.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services said: “Indian equity markets witnessed a range-bound session today but finally managed to close near day’s high. Reliance Industries and financial heavyweights (HDFC, Kotak Mahindra Bank and ICICI Bank) lifted the market.”

He said that investors are awaiting the US Federal Reserve’s policy outcome, which will be the first since the US began to reopen.

On Wednesday, the BSE Sensex closed at 34,247.05, higher by 290.36 points or 0.86 percent from its previous close of 33,956.69. It had opened at 34,029.14 and touched an intra-day high of 34,350.17 and a low of 33,949.46 points.

The Nifty50 on the National Stock Exchange was at 10,116.15, higher by 69.50 points or 0.69 percent from the previous close.

OPPO A52 with punch-hole camera for under Rs 20K this week

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OPPO A52 with punch-hole camera for under Rs 20K this week

Expanding its successful A-series, OPPO is all set to launch a mid-price affordable smartphone A52 under Rs 20,000 in India this week.

Industry sources told IANS on Wednesday that the device is going to be the first smartphone to feature a punch-hole display in the affordable segment.

Earlier this year, OPPO launched A31 for Rs 11,490 for the 4GB+64GB variant and Rs 13,990 for the 6GB+128GB variant.

The company is also expanding its Internet of Things (IoT) portfolio.

After receiving a good response for its OPPO Enco headphone series, the brand is also set to reinforce its position in the IOT segment with a new offering that would offer immersive surround sound experience.

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