Virat Kohli promises team will get better from here on

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Virat Kohli promises team will get better from here on

Former India skipper Virat Kohli has said the team had come to Australia for the ICC T20 World Cup to achieve their dream but fell short, but promised the side will strive to “get better from here on”.

Kohli again played a key role in helping India to a competitive 168 for six in 20 overs, scoring a 40-ball half-century, but Alex Hales and England skipper Jos Buttler’s unbeaten blitz of 170 runs made the target look minuscule as they breezed into the final to set up a blockbuster showdown with Babar Azam’s Pakistan with four overs to spare and all 10 wickets in hand.

Kohli was the stand-out batter in the side and continues to top the scoring charts with 296 runs from six innings and a batting average of 98.66, but his innings weren’t enough on a perfect Thursday afternoon at the Adelaide Oval as India bowed out of the global tournament, with the bowlers letting the side down.

Kohli took to Twitter to express his disappointment at missing the trophy one more time, saying “We leave Australian shores short of achieving our dream and with disappointment in our hearts but we can take back a lot of memorable moments as a group and aim to get better from here on,” said the charismatic India batter.

India’s next major ICC assignment will be the ODI World Cup at home next year and they would be aiming to recreate the magic of 2011 to win back the trophy after a series of debacles in ICC tournaments.

Kohli also thanked the fans for showing faith in the side and turning out in huge numbers to watch the match.

“Thank you to all our fans who turned up in huge numbers throughout to support us in the stadiums. Always feel proud to wear this jersey and represent our country,” Kohli wrote in another tweet.

Kohli was in smashing form during India’s thrilling last-ball win against Pakistan in the Super 12 opener on October 23, clobbering an unbeaten 82.

India’s disappointments in ICC events have continued to pile up with the team doing hardly anything of note since the 2011 ODI World Cup title triumph under Mahendra Singh Dhoni.

In the 2014 T20 World Cup final, Virat Kohli was the standout batter against Sri Lanka, but the rest didn’t turn up to the occasion at Dhaka. In the 2015 ODI World Cup semifinal at SCG, their batting crumbled under scoreboard pressure after Steve Smith raised a magnificent century.

In the 2016 T20 World Cup at home, Kohli again stood up to propel India to a high total. But West Indies, especially Lendl Simmons, successfully chased down the target with ease in the semifinals. In the 2017 Champions Trophy final, all was smooth sailing for India till Fakhar Zaman and Mohammad Amir turned it around for Pakistan.

In the 2019 ODI World Cup semifinal, Rohit Sharma was in form of his life till Matt Henry and Co dismantled the Indian batting order.

Naga Chaitanya’s ‘NC 22’ unit begins work on intense action sequence

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Naga Chaitanya’s ‘NC 22’ unit begins work on intense action sequence

The unit of director Venkat Prabhu’s first Tamil-Telugu bilingual film, featuring Naga Chaitanya in the lead, has now begun the process of shooting an intense action sequence for the film.

Sources close to the unit say that a big set has been erected in Hyderabad to shoot the huge action sequence.

Aravind Swamy has joined the team and the intense action sequence is being supervised by Mahesh Mathew’s master.

Krithi Shetty, Sarathkumar, and Sampath Raj are also participating in the shoot. The production works of the movie are happening at a brisk pace.

Naga Chaitanya and Tamil director Venkat Prabhu are working together for the first time on this Telugu-Tamil bilingual movie that is tentatively being referred to as ‘NC22’.

Srinivasaa Chitturi is producing this large-scale commercial entertainer for the banner, Srinivasaa Silver Screen.

Sources disclose that Naga Chaitanya plays an intense character in the film, which has Aravind Swamy essaying the role of the antagonist.

The movie has music by the legendary father-son duo of Isaignani Ilaiyaraaja and Yuvan Shankar Raja.

Crypto exchange Coinbase to lay off more employees amid FTX saga

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Crypto exchange Coinbase to lay off more employees amid FTX saga

Leading crypto exchange Coinbase will lay off more employees soon in a fresh round of job cuts, as the world of crypto faces another existential threat after the FTX collapse, the media reported.

The layoffs were announced internally and the company is likely to sack around 60 employees in its recruiting and institutional onboarding teams reports The Information.

The cuts will take place as the broader cryptocurrency industry is in chaos due to the ongoing FTX saga which has alarmed investors and caused cryptocurrency values to sink further.

Crypto exchange FTX Founder and CEO Sam Bankman-Fried told investors that he needed emergency funding to cover a shortfall of up to $8 billion due to withdrawal requests received in recent days.

Leading crypto exchange Binance has also pulled out of the FTX acquisition deal.

Even before the FTX problems, Coinbase had tried to control costs, as declining crypto trading volumes were hurting this year’s revenue, the report said.

In June this year, the crypto exchange company announced to lay off 18 percent of its workforce, or about 1,100 jobs amid the economic downturn.

Brian Armstrong, CEO, and co-founder had said that while the company tried its best to get this just right, in this case, it was clear that it had over-hired.

Now, the collapse of the FTX crypto exchange has brought yet another round of threats to the crypto industry as a whole amid Bitcoin and other crypto values dropping further.

Dry weather with generally clear sky likely in J&K: MeT

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Dry weather with generally clear sky likely in J&K: MeT

The Meteorological (MeT) department on Friday forecasted dry weather with generally clear sky in Jammu and Kashmir during the next 24 hours.

The weather was generally cloudy on Thursday.

“Dry weather with the generally clear sky is likely in J&K during the next 24 hours”, an official of the MeT department said.

Meanwhie, Srinagar recorded 3.6 degrees Celsius, Pahalgam minus 4.2, and Gulmarg minus 3.2 degrees as the minimum temperature this morning.

Drass town and Leh in Ladakh region registered minus 8.6 degrees while Kargil had minus 4.3, while Jammu clocked 10.6, Katra 10.4, Batote 4.9, Banihal 5.2, and Bhaderwah 1.7.

Ileana D’Cruz Pregnant Pics Goes Viral On #SocialMedia | Tollywood Gossips | Tollywood |TeluguBullet

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Ileana D’Cruz Pregnant Pics Goes Viral On #SocialMedia | Tollywood Gossips | Tollywood |TeluguBullet

Ileana D’Cruz Pregnant Pics Goes Viral On #SocialMedia | Tollywood Gossips | Tollywood |TeluguBullet

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Canada’s immigration backlog drops to 2.4 mn people

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Canada’s immigration backlog drops to 2.4 mn people

Canada’s immigration backlog has come down to just over 2.4 million from 2.6 last month, new data by Immigration, Refugees and Citizenship Canada (IRCC) said.

The data showed a large reduction in the backlog of temporary residence applications while the permanent residence backlog registered a slight increase.

The permanent residence inventory stood at 506,421 people as of November 3, compared to 505,562 as of October 3, and the temporary residence inventory stood at 1,537,566 people in November, compared to 1,651,649 persons last month, the CIC News reported.

The visa processing backlog has grown since the beginning of the Covid-19 pandemic. According to the recent immigration plan, Canada has set a target of welcoming over 400,000 new immigrants each year, between 2022-2024.

As of November 3, there are 39,589 Express Entry applications waiting in the queue. Express Entry is Canada’s main way of managing skilled worker applications.

The second main way is through the Provincial Nominee Programme (PNP) — which has an inventory of 62,073 total applications — followed by Quebec’s skilled worker programs. According to the IRCC, there were 2.6 million applications in IRCC’s inventory on September 30, out of which 1.1 million were within service standards and 1.5 million were considered backlog. This means that over the past month, IRCC has made some progress toward reducing the backlog.

Acknowledging the backlog, IRCC has said that it is taking steps to improve the speed at which applications are processed. It aims to have a less than 50 percent backlog across all lines of business by the end of March 2023, CIC News reported.

In June, Prime Minister Justin Trudeau created a task force to evaluate the current backlog in services and make suggestions on short-term and long-term improvements. IRCC started the transition towards 100 percent digital applications for most permanent resident programs on September 23, with accommodations made for those who are unable to apply online to clear the backlog on time. It also aims to make all citizenship applications digital by the end of this year, apart from investing $85 million to hire 1,250 new staff by the end of the year to increase processing capacity.

T20 World Cup: Coach Dravid consoles teary-eyed Rohit after 10-wicket loss to England

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T20 World Cup: Coach Dravid consoles teary-eyed Rohit after 10-wicket loss to England

Alex Hales and Jos Buttler smashed mesmerizing fifties to thrash a listless India by ten wickets in the second semifinal of the Men’s T20 World Cup at the Adelaide Oval on Thursday.

Hales hit 86 not out off 47 balls while Buttler smacked an unbeaten 80 off 49 balls to chase down 168/6 by India in style with four overs remaining.

After a 10-wicket thrashing Indian skipper Rohit Sharma looked utterly dejected. Rohit, who was made the captain of the Indian team with an eye on the T20 World Cup, was spotted sitting alone and left teary-eyed after the team crashed out of T20 World Cup. He broke down completely while India coach Rahul Dravid consoled him. Dravid, sitting alongside Rohit, consoled the India captain by batting him on his back. Rohit’s emotions were captured by the television cameras at the Adelaide Oval.

After the defeat, Rohit Sharma feels the performance with the ball let them down and credited the opening pair of Jos Buttler and Alex Hales for being clinical with their chase.

“It’s pretty disappointing how we turned up today. I thought we still batted pretty well at the back end to get to that score, but we were not good enough with the ball. It was definitely not a wicket where a team can come and chase it down in 16 overs. With the ball, we didn’t turn up today.”

“The way we started with the ball was not ideal. We were a little nervy, but you have to give credit to the openers as well. They played really well. When Bhuvi bowled the first over it swung today, but not from the right areas,” said a disappointed Rohit in the post-match presentation ceremony.

Rohit opined that India wanted to keep things tight with the ball and avoid England from scoring in short square areas. But that didn’t happen as Hales and Buttler never let the bowlers settle down at all, along with the fielding being more than sloppy in a crunch match.

India to face South Africa, West Indies in T20I tri-series next year ahead of Women’s T20 World Cup

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India to face South Africa, West Indies in T20I tri-series next year ahead of Women’s T20 World Cup

As part of the final stages of their preparation for the ICC Women’s T20 World Cup 2023 to be held in South Africa in February next year, India will be participating in a T20 tri-series featuring the Proteas and 2016 champions West Indies in East London from January 19-February 2.

All matches will be played at the Buffalo Park Cricket Stadium in what will be a series of intensely-contested matches between the three teams. They will play two T20I encounters against each side in a battle for a place in the tri-series final, serving as vital preparation for the three teams ahead of the tournament kicking off from February 10-26 in Cape Town, Paarl, and Gqeberha.

“With the eyes of the cricketing world set to converge on South Africa for the 2023 ICC Women’s T20 World Cup, we are pleased to welcome India and the West Indies to our shores as head coach Hilton Moreeng and the team complete their readiness for the global showpiece in February.”

“These two sides are up there with the most talented and entertaining nations in women’s T20 cricket, having featured in two of the last four finals, with the West Indies lifting the trophy in 2016. This will give the Momentum Proteas a highly competitive build-up to the ultimate prize of the T20 World Cup,” said Enoch Nkwe, CSA Director of Cricket.

South Africa’s T20 World Cup opponents in Group A include Sri Lanka, and New Zealand as well as Bangladesh and five-time champions, Australia. India, the 2020 T20 World Cup runners-up, and West Indies are in Group B of the competition alongside England, Pakistan, and Ireland.

“This is a very exciting time for cricket fans in South Africa. These seven T20 matches hosted at Buffalo Park in East London will provide an exciting opportunity for the public to witness the ladies in action once again, in their own backyard, as an appetizer for what’s to come a month later in Cape Town, Gqeberha and Paarl.”

“On behalf of Cricket South Africa (CSA), I would like to extend my gratitude to the Board of Control for Cricket in India (BCCI) and Cricket West Indies (CWI) for their collaboration in organizing the series at a critical stage of the season,” added Pholetsi Moseki, CSA Chief Executive.

India won the silver medal in the Women’s T20 event at Birmingham Commonwealth Games and also emerged as the winner of the Women’s Asia Cup in Bangladesh. Their next international assignment will be a five-match T20I home series against world champions Australia in December this year.

Women’s T20I Tri-Series Schedule (featuring South Africa, India, and West Indies)

January 19, 1st T20I: South Africa vs India

January 21, 2nd T20I: South Africa vs West Indies

January 23, 3rd T20I: India vs West Indies

January 25, 4th T20I: South Africa vs West Indies

January 28, 5th T20I: South Africa vs India

January 30, 6th T20I: West Indies vs India

February 2: Tri-Series Final

Kriti Sanon: ‘I never cried on receiving an award but I cried when my mother encouraged me’

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Kriti Sanon: ‘I never cried on receiving an award but I cried when my mother encouraged me’

Bollywood actress Kriti Sanon goes down memory lane and recalled how her mom Geeta Sanon used to motivate her for doing productive work in life and those words of appreciation always inspired her even more than any awards.

Kriti shared how once when she went to her parent’s room to say good night, her mom stopped her and praised her by saying: “You are a good daughter and you are doing good in life.”

She added: “I never cried on receiving an award but I cried when my mother encouraged me.”

The 32-year-old actress is coming on the singing reality show ‘Indian Idol 13’ along with Varun Dhawan to promote their film ‘Bhediya’. Kriti and Varun were amazed to look at the touching and mesmerizing performance of a contestant Sivam Singh from Vadodara, Gujarat on the emotional song ‘Chunar’ from the 2015 movie ‘Any Body Can Dance 2’ starring Prabhu Deva, Varun Dhawan, and Shraddha Kapoor.

His rendition during the ‘Thank You Maa’ episode made everyone including the judges Neha Kakkar, Himesh Reshammiya, and Vishal Dadlani emotional and they were left with teary eyes. In fact, Varun recorded his video, and Kriti also praised him, saying: “I can connect to your feelings. You have such a powerful voice, I have got goosebumps. Shivam you have a bright future, you will go much ahead in life.”

Post his performance, his mother also came on the stage and he touched her feet.

She said: “Every mother should get a son like you.” And he replied: “I want you to be my mother in every birth.” ‘Indian Idol 13’ airs on Sony Entertainment Television.

Twitter’s global market share grows by 55% as Musk takes over

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Twitter’s global market share grows by 55% as Musk takes over

Twitter’s market share has surged by 55.8 percent in 2022 amid Elon Musk’s takeover, while Facebook’s share plunged by 11.86 percent till November across desktop and mobile devices worldwide, a new report has revealed.

According to data compiled by Finbold, a breakdown of the market share indicates that Facebook began the year at 76.85 percent while in November, the value stood at 67.73 percent.

Elsewhere, in January, Twitter had a market share of 7.16 percent while as of November, the figure stood at 11.16 percent.

In recent months, both platforms have recorded a fluctuation in the market share, with Twitter appearing to have the upper hand from a growth perspective amid ongoing internal administrative changes.

“From the data, Facebook remains the dominant social media platform, but Twitter is winning the race to expand its market share. Twitter’s share has spiked in correlation with the company’s acquisition by Tesla CEO Musk, who has already begun implementing several changes at the company,” the findings showed.

Interestingly, internal reports, also confirmed by Elon Musk, indicate that Twitter’s daily user growth attained an all-time high during the first full week of Muskas tenure.

“The performance appears to quell initial fears that Twitter might experience a mass exodus of users with Musk’s takeover,” said Finbold.

Based on the market share data across the year, it can be assumed that Musk has influenced the numbers; for instance, the share spiked around May when the deal was first announced but appeared to plunge after he initially backed out.

Besides the Musk factor and promises to make a change, Twitter’s growth can also be attributed to elements like changing the design.

“Interestingly, Twitter has previously been scrutinized for attempting to emulate Facebook, especially with the rollout of its stories-like Fleets. However, Twitter resorted to shutting down the feature due to a lack of user interest,a said the report.

At the same time, Facebook’s market share has been affected by the growing competition with newer social media platforms like TikTok.

In this line, the company which has fired 11,000 employees is losing both users and advertising revenue to rivals like TikTok.

“Overall, Facebook has struggled with users over the years, with experts pointing to factors like information overload, privacy concerns, addiction, peer pressure, and the emergence of new platforms,” the report mentioned.

Google One VPN service now available on Windows and Mac

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Google One VPN service now available on Windows and Mac

Google has announced a virtual private network service called VPN by Google One for Windows and Mac devices, which was earlier available for Android and iPhone devices.

All Google One subscribers with Premium plans will have access to VPN by Google One on their desktop.

This means that if a user purchases a 2TB or higher plan, then VPN by Google One will be added automatically and without any additional charge.

Google says the desktop version of its VPN will be available in the same markets where it is currently available on Android and iOS, i.e., the desktop version of the VPN can be installed in 22 countries, reports Android Authority.

“We remain committed to a high degree of transparency and verifiability of our privacy and security guarantees. We have recently completed an extension of this audit to cover the desktop implementations for Windows and macOS,” the company was quoted as saying.

Users can directly download the Mac and Windows apps for the VPN, by selecting Benefits > VPN protection for multiple devices > and Download the app on the Google One website.

Google One subscribers can share their plan and the VPN services with up to five family members at no extra cost, so they can all use the VPN across Android, iOS, Windows, or Mac devices, said the report.

Siddharth Anand: ‘Pathaan’ will showcase Deepika Padukone in probably her hottest self

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Siddharth Anand: ‘Pathaan’ will showcase Deepika Padukone in probably her hottest self

‘Pathaan’ director Siddharth Anand says the film will present Deepika Padukone at her hottest and coolest best and that she will mesmerize everyone with her sizzling screen presence like never before.

Siddharth says, “Deepika Padukone is up there with the biggest of superstars in the history of Hindi cinema. And we knew we had written a role for her in ‘Pathaan’ that is not only breathtaking but one that also justifies her superstardom. ‘Pathan’ will showcase her in probably her hottest and at the same time, the coolest self.”

SRK and Deepika are one of the biggest on-screen pairings in the history of Indian cinema given their epic blockbusters like ‘Om Shanti Om’, ‘Chennai Express’ and ‘Happy New Year’.

SRK and Deepika recently sizzled in Spain as leaked photos from the sets. The glamourous duo shot a song in Mallorca as SRK was papped flaunting an eight-pack and Deepika her perfect bikini bod. They then headed to Cadiz and Jerez in Spain where they wrapped the schedule.

About the super-hot pairing, Siddharth says, “The on-screen Jodi of Deepika and Shah Rukh Khan is probably one of the biggest pairings that Indian cinema has ever seen, given their incredible successes in the past. And in Pathaan we have presented SRK and DP in a way that’s unprecedented.”

He adds, “They have electric chemistry with each other and they look just so hot together. It’s rare to find a pairing like theirs and their Jodi is a huge USP for Pathaan.” ‘Pathaan’ is set to release on January 25, 2023, in Hindi, Tamil, and Telugu.

T20 World Cup: Hardik Pandya, Virat Kohli fifties power India to 168/6 against England

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T20 World Cup: Hardik Pandya, Virat Kohli fifties power India to 168/6 against England

Half-centuries from Hardik Pandya and Virat Kohli powered India to a challenging 168/6 against England in the second semifinal of the Men’s T20 World Cup at the Adelaide Oval on Thursday.

While Kohli was sublime in smashing four fours and a six in his 40-ball 50, his fourth fifty of the tournament, Pandya gave a massive boost to the Indian innings in the last five overs with a 33-ball 63, hitting four fours and five sixes at a strike-rate of 190.91, as the side got 68 runs off the last five overs.

England bowled excellently till the 15th over to deny India scoring opportunities towards the short square boundaries and got them to play more towards the longer side of the ground. While Chris Jordan picked 3/43 on his England comeback, leg-spinner Adil Rashid and pacer Chris Woakes were outstanding in their tight spells while taking a wicket each.

Pushed into batting first on a used pitch, K.L Rahul opened the innings by sending a short and wide delivery from Ben Stokes behind point for four. But Woakes found his outer edge along with some extra bounce in the second over to give a simple catch behind to the keeper.

Sam Curran had Kohli nearly caught at first slip apart from the left-arm pacer beating him on the previous ball. But the right-hander got off the mark with a stylish lofted drive off Woakes for six in the fourth over.

Rohit Sharma brushed off his cagey start by uppishly flicking Curran over mid-wicket and then pulling over the same region to collect back-to-back fours. He went on to sweep Rashid over square leg for his third four of power-play before Kohli used his wrists to loft over Liam L’vingstone’s head for another boundary.

After lofting Jordan over extra cover for four in the ninth over, Rohit tried to pull off the pacer but mistimed the ball to a diving wide long-on. Suryakumar Yadav got going by swiveling Stokes for six over fine leg and lofted over off-side for four more.

But he failed to get the connection on a slower leg break outside the off-stump off Rashid and was caught at deep-point. Kohli took fours off Woakes, Livingstone, and Jordan while Pandya also hit a four off the spinner, signaling that India was looking to shift gears.

On Curran’s first ball in the 17th over, Pandya cut a short one in front of square for six, and against Jordan in the 18th over, he pulled and whipped over the short square boundary for back-to-back sixes.

With a brace through cover, Kohli got his fifty in 40 balls. But Jordan had the last laugh, ending the over by having Kohli slice a wide yorker to a short third man. After Rishabh Pant cut Curran over backward point for four in the 19th over, Pandya expertly steered him through the same region for another four.

After pulling a Curran short ball over deep mid-wicket for six, Pandya got his fifty in 29 balls as Stokes misfielded at deep mid-wicket to concede a four.

Pant running himself out to get Pandya on strike in the final over worked well as the right-hander thumped Jordan for six over long-on and pulled through deep mid-wicket for four before stepping on his stumps to be out hit-wicket on the final ball.

Brief scores:

India 168/6 in 20 overs (Hardik Pandya 63, Virat Kohli 50; Chris Jordan 3/43, Adil Rashid 1/20) against England

‘Bigg Boss 16’: Archana Gautam to make a re-entry to the show

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‘Bigg Boss 16’: Archana Gautam to make a re-entry to the show

After being expelled from ‘Bigg Boss 16’, contestant Archana Gautam is set to make a re-entry to the show.

According to a source close to Media, makers are trying to get Archana Gautam back, however, it is unclear if Salman Khan will reintroduce her or if will she make re-entry over the weekend.

Archana was asked to leave the ‘Bigg Boss 16’ house after she got into a fight with co-housemate Shiv Thakre. She said that she would slap him post which she went and held him by the neck in anger.

Post the incident, contestants Shalin Bhanot, and Nimrit Kaur Ahluwalia were seen protesting and demanding her eviction from the show.

‘Bigg Boss 16’: A galaxy of stars to descend upon weekend episode

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‘Bigg Boss 16’: A galaxy of stars to descend upon weekend episode

Personalities such as Varun Dhawan, Kriti Sanon, Sunny Leone, and Arjun Bijlani will be seen as guests on the upcoming weekend episode of ‘Bigg Boss 16’, hosted by Salman Khan.

Sunny and Arjun will be attending the show first as they will be promoting their upcoming season of the youth-based reality show ‘Splittsvilla’.

Varun and Kriti will be seen in the next episode promoting their upcoming creature comedy ‘Bhediya’ on the controversial reality show.

Meanwhile, in ‘Bigg Boss 16’, Archana Gautam was shown the exit door at 3.00 a.m. after she got into a physical altercation with fellow housemate Shiv Thakre.

Gauri along with Sumbul Touqeer and Priyanka Choudhary were nominated for eviction this week. However, it is not clear if the eviction would take place after Archana’s exit from the show.

ముగియనున్న దేవత సీరియల్ | Devatha Serial Ending Very Soon | Ambati Arjun | Suhasini | Telugu Bullet

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ముగియనున్న దేవత సీరియల్ | Devatha Serial Ending Very Soon | Ambati Arjun | Suhasini | Telugu Bullet

ముగియనున్న దేవత సీరియల్ | Devatha Serial Ending Very Soon | Ambati Arjun | Suhasini | Telugu Bullet

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NASA again delays Artemis I Moon mission launch

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NASA again delays Artemis I Moon mission launch

NASA has once again delayed its Artemis I Moon mission launch owing to a tropical storm next week.

This mission was scheduled to finally launch on November 14 but tropical storm Nicole approaching the Florida coast has forced the US space agency to push back the launch attempt.

“Adjusting the target launch date will allow the workforce to tend to the needs of their families and homes, and provide sufficient logistical time to get back into launch status following the storm,” NASA said in a statement.

NASA was monitoring Nicole and has decided to re-target a launch for the Artemis I mission for November 16, pending safe conditions for employees to return to work, as well as inspections after the storm has passed.

Based on expected weather conditions and options to roll back ahead of the storm, the space agency determined the safest option for the launch hardware was to keep the Space Launch System (SLS) rocket and Orion spacecraft secured at the pad.

Artemis I is the first integrated flight test of NASA’s Space Launch System (SLS) rocket, an uncrewed Orion spacecraft, and the ground systems at the agency’s Kennedy Space Center in Florida that will pave the way for a crewed test flight and future human lunar exploration as part of Artemis.

In September, the US space agency called off the Artemis I launch, owing to Tropical Storm Ian threat. On September 3, NASA attempted to launch Artemis I but called it off after detecting a liquid hydrogen leak.

For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

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For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

India’s software export revenue and remittances act as a strong counter-cyclical buffer against the increase in current account deficit (CAD) due to a hike in global oil prices and rupee depreciation, said the State Bank of India’s (SBI) Chief Economic Adviser.

In a research report Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million.

Ghosh said contrary to the expectations, the Q1FY23 Balance of Payments (BOP) numbers have shown a strong counter-cyclical buffer in the form of service exports and remittances.

For example, in Q1, India’s CAD was expected to reach $30 billion/3.8 percent of gross domestic product (GDP), but the actual numbers came in at 2.8 percent of GDP.

The positive surprise was because of strong remittances and software exports, the CAD got a lift of 60 basis points, Ghosh said.

“We expect that if such trends of strong remittances and software exports have continued (RBI data suggests software exports in Q2 were strong) in Q2, and India’s CAD comes in below the threshold level of 3.5 percent of GDP in Q2, the CAD for FY23 could still be closer to 3 percent benchmark and not in excess of 3.5 percent of GDP,” he added.

Also, forex reserves could jump by another $5 billion as swap transactions reverse and thus have a positive impact on the rupee as is being currently witnessed, he noted.

To understand the factors that are impacting India’s CAD, Ghosh worked on the structural vector auto-regressions (SVAR) model.

With oil forming 30 percent of India’s import bill, it has a major impact on macroeconomic variables. An increase in oil import price impacts directly the trade deficit and consequently, CAD gets widened.

That apart, it also results in inflation. According to Ghosh, the SVAR model introduces a counter-cyclical response to increased oil prices in the form of software service exports that is impacted positively because of rupee depreciation.

“Although remittances are positively impacted, we have not considered them in our SVAR model because of data volatility.”

The results of the SVAR model clearly give an idea of the negative impact of oil price shock on CAD, inflation, and growth in one direction and the positive impact of software exports on CAD as a result of rupee depreciation.

In particular, a positive shock to oil prices leads to an immediate and sharp increase in CAD, which dissipates completely in about eight quarters. The trade deficit also increases up to two quarters after the initial positive oil price shock, he said.

“This implies that India’s trade deficit may already have been adversely impacted for the first half of the current fiscal because of the oil price shock,” Ghosh said.

In the case of GDP, a positive shock to oil prices leads to an immediate decline, which however starts reversing after the third quarter and completely dissipates after the seventh quarter.

“This implies that India’s first-half GDP growth in FY23 could have been impacted because of the oil price shock. Most interestingly, the rupee-dollar exchange rate also gets impacted and it depreciates slightly after an increase in oil prices till three quarters following which it starts appreciating,” he said.

As a result, the rupee outlook is likely to improve in Q4 of FY23. The impact of oil price on consumer price index (CPI) inflation will dissipate after four quarters and it means that the CPI inflation outlook for FY24 will be consistent with RBI’s forecast of 5 percent.

Ghosh said India’s software exports are on the rise with the share of the offsite mode of exports by Indian IT service companies increasing to 88.8 percent in FY22 compared to 82.8 percent five years ago.

Ghosh said a $10 increase in crude oil prices leads to an increase of 40 bps in CAD, 50 bps in CPI, and a 23 bps decline in growth with software exports acting as a counter-cyclical buffer.

“The exchange rate pass-through from variance decomposition method shows it is at least 10 percent for CAD, inflation, and growth, but significantly stronger at 35 percent for software exports. For every rupee depreciation, software exports increase by $250 million,” Ghosh added.

Facebook users report problems with ‘Ads Manager’ in India

TB Team
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Facebook users report problems with ‘Ads Manager’ in India

Multiple users from several parts of India reported problems with Meta-owned Facebook on Thursday, especially facing trouble with its ‘Ads Manager. DownDetector, an online website outage monitoring platform, showed that most of the outage reports were from Mumbai and Delhi.

Several users took to the microblogging platform Twitter to report the issue. “In the middle of building out a massive campaign & ads manager goes down,” a user said in a tweet.

“Entered Facebook Ads Manager, but can’t access it because of an error, also me: runs to Twitter to check if I’m alone,” another user commented. Facebook was yet to comment on what caused this outage.

In October this year, Facebook was unavailable to roughly 3.5 billion users in the world for six hours. The outage also moved traffic to other social media applications and websites like Signal and Twitter which saw a surge in users by 140 times and seven times respectively.

Video streaming platforms such as YouTube and Jio Play also saw a surge in traffic — up by 30 times and 20 times respectively.

T20 World Cup: Don’t know who we will play, says Pakistan’s Babar over possible clash with India in final

TB Team
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T20 World Cup: Don’t know who we will play, says Pakistan’s Babar over possible clash with India in final

With Pakistan coming back from the verge of elimination in Super 12 to beat New Zealand and unexpectedly storm into the final of the Men’s T20 World Cup, skipper Babar Azam has reacted cautiously to the possibility of a summit clash with archrivals India while Pakistan Cricket Board (PCB) chief Ramiz Raja took a cheeky dig at the team’s detractors.

With India set to take on England in the other semifinal on Thursday, Babar was asked about the possible clash between the arch-rivals in the final. The two former champions had clashed in a memorable final of the inaugural T20 World Cup in 2007 in which India emerged victorious by five runs.

Asked about a rematch between the two sides in the final, Babar said his team will play fearless cricket whoever its opponent is in the summit clash.

However, he made it clear that India still has to fulfill their side of the bargain and has to beat England to reach the final.

“We can’t say right now which opponent will we be facing in the final. No matter which opponent comes, we will try to give our 100%. We always try to overcome challenges, and a final is bound to have pressure. You enter the final after passing through different phases in a tournament.

“When you reach the final, you try to play fearless cricket. The kind of cricket we have played in the last 3-4 matches, we would look to continue that,” Babar said in the post-match press conference after his team’s 7-wicket victory over New Zealand.

While Babar scored 46, his opening partner Mohammad Rizwan slammed 52 after Shaheen Afridi claimed figures of 2 for 24 in 4 overs to help restrict New Zealand to a modest total.

While Babar was cautious with his response, PCB chief Ramiz Raja was not so. He took a dig at the team’s detractors by saying very few teams in world cricket could have risen to the occasion like this team and also reminded the fans of Pakistan’s similar fightback in the ODI World Cup of 1992 in Australia.

“#PakvsNz A perfect 10! Very few teams in world cricket would have risen to the occasion as Pakistan did today. Melbourne here we come again #WC92,” Raja wrote in a tweet after the match.

Pakistan had come back from the brink and defeated England in the final to win the 1992 ODI World Cup under the captaincy of Imran Khan, who had penned a special motivational message for Babar Azam’s team before the T20 World Cup semifinal against New Zealand.

Pakistan’s other former cricketers too were ecstatic in their reaction to the victory over New Zealand with impromptu bhangra in the studios of the television channels with which they are involved during the World Cup.

Former stars Shoaib Malik, Wasim Akram, Misbah-ul-Haq, and Waqar Younis danced their hearts out in a Pakistani TV studio, expressing their joy at the team reaching the final and setting up the possibility of winning their second T20 World Cup title in the 2009 edition in England.

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