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Global public debt – comprising general government domestic and external debt – reached a record USD 92 trillion in 2022, with developing countries owing almost 30% of the total, according to a United Nations report. Today, 3.3 billion people live in countries that spend more on interest payments (on debt) than on education or health, the report said. The report further said that developing countries also pay much more for their borrowing. Countries in Africa borrow on average at rates that are four times higher than those of the United States and even eight times higher than those of Germany. The report, titled “A world of debt. A growing burden to global prosperity”, was jointly prepared by the United Nations Global Crisis Response Group established in March 2022 by UN Secretary-General Antonio Guterres, the UN Conference on Trade and Development (UNCTAD), and five UN Regional Economic Commissions: the Economic Commission for Africa, the Economic Commission for Europe, the Economic Commission for Latin America and the Caribbean, the Economic and Social Commission for Asia and the Pacific, and the Economic and Social Commission for Western Asia. PUBLIC DEBT AT COLOSSAL LEVELS According to the joint report, public debt can be vital for development, with governments using it to finance their expenditures, to protect and invest in their people, and to pave their way to a better future. However, it can also be a heavy burden, when public debt grows too much or too fast,” it said. The report said this is what is happening today across the developing world, adding that public debt has reached colossal levels, largely due to two factors: * Financing needs soared with countries’ efforts to fend off the impact of cascading crises on development that include the COVID-19 pandemic, the cost-of-living crisis, and climate change. * An unequal international financial architecture makes developing countries’ access to financing inadequate and expensive. Debt has been translating into a substantial burden for developing countries due to limited access to financing, rising borrowing costs, currency devaluations and sluggish growth, said the report. These factors compromise their ability to react to emergencies, tackle climate change and invest in their people and their future.” Public debt around the world has been on the rise over the last decades. Cascading crises in recent years triggered a sharp acceleration of this trend, the report noted. As a result, global public debt has increased more than five-fold since the year 2000, clearly outpacing global GDP, which tripled over the same time.” In 2022, global public debt – comprising general government domestic and external debt – reached a record USD 92 trillion, said the report. Developing countries owe almost 30% of the total, of which roughly 70% is attributable to China, India and Brazil,” it added.
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Razorpay launches international payment gateway in Malaysia through Curlec
Fintech major Razorpay India on Wednesday announced that it has launched its international payment gateway in Malaysia with Curlec, known as ‘Curlec by Razorpay’. In February 2022, Razorpay had acquired a majority stake in Kuala Lumpur-based fintech firm Curlec at a valuation of $20 million, kicking off its global expansion plans. The balance stake acquisition was to be completed in 2023. Curlec currently works with over 700 Malaysian businesses, including Tune Protect, CTOS, Courts, Mary Kay and The National Kidney Foundation. The new Curlec payment gateway will serve more than 5,000 businesses with a target of RM 10 billion (around $2 billion) in annualised gross transaction value (GTV) by 2025. Curlec was founded in 2017 by Zac Liew and Steve Kucia; like Razorpay, it is a business-to-business payment solution provider. The company offers recurring and subscription-based payment collection for businesses, besides billing, payouts and other payments solutions. “We have always been aware that simplifying payments is a universal problem. We see great potential in SEA, we recognise the power of payments in Malaysia and what it means for businesses of any kind and size. We firmly believe that our extensive experience in operating within the diverse and dynamic market of India has prepared us to tackle different challenges and solve payment problems on a global scale,” said Shashank Kumar, MD and Co-Founder, Razorpay India.
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Max Life, DCB Bank join hands to offer insurance products .
Max Life Insurance has partnered DCB Bank to provide life insurance products to the bank's customers through its 427 branches across the country. The tie-up will offer the bank’s customers access to Max Life's protection and long-term savings solutions. “DCB Bank's customer-centric approach and widespread reach make them an ideal partner for Max Life. Through this collaboration, we aim to provide superior customer experience by offering top-notch products, digital servicing, and an omni-channel approach,” said V. Viswanand, Deputy Managing Director, Max Life. Praveen Kutty, head of retail banking at DCB Bank, said that the partnership will pave the way for the bank to offer adaptable, and varied life insurance products for our customers. “We are confident that Max Life’s bouquet of customized need-based products, along with the Bank’s growing reach and strong technology capabilities, shall improve insurance penetration across the branch network,” said Kutty. Max Life is a joint venture between Max Financial Services Limited and Axis Bank Limited. Max Financial is a part of Max Group. Max Life was among the first private companies to get an insurance licence and has built its operations over two decades. DCB Bank is a professionally managed and governed lender. the bank has contemporary technology and infrastructure. DCB bank’s business segments are retail, micro-SME, SME, mid-corporate, agriculture, commodities, government, public sector, Indian banks, co-operative banks and non-banking finance companies (NBFC). The bank has approximately one million customers.
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Kuwait's Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA) following a vote overshadowed by allegations of corruption
The Olympic Council of Asia (OCA) elected Sheikh Talal Fahad Al Ahmad Al-Sabah as the new President at the 42nd OCA General Assembly in Bangkok, Thailand on Saturday. Sheikh Talal received 24 of the 44 votes cast, while the OCA Director General, Husain Al-Musallam, received 20. The simple majority required was 23. Sheikh Talal, 58, is the son of the first OCA President, Sheikh Fahad Al-Ahmad Al-Jaber Al-Sabah, who was President from 1982 to 1990, and the younger brother of the previous OCA President, Sheikh Ahmad Fahad Al-Sabah, who led the organisation from 1991 to 2021. Former Secretary General Randhir Singh of India had led the OCA as its acting President since 2021. Sheikh Talal election keeps the leadership of the Kuwait-based OCA in the House of the Al Sabah family. In his 15-minute election presentation, Sheikh Talal’s motto was “One Asia, One Family” and he built his campaign around five main pillars: good governance, financial sustainability, development plan for sports and activities, education programmes and high-quality Asian Games. Pakistan’s Arif Hasan re-elected: Pakistan added another feather in its cap when Pakistan Olympic Association (POA) President Lt Gen (r) Syed Arif Hasan was re-elected as the OCA Vice President for South Asia (2023-2027) for the fifth time in a row at the General Assembly meeting of the OCA held in Thailand capital Bangkok on Saturday. Arif is one of the five Zonal Vice Presidents of OCA and has been re-elected unopposed for the South Asian Zone which comprises Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lanka. It is under his dynamic leadership that the Olympic Movement of Pakistan has secured autonomy as envisaged in the Olympic Charter. The re-election of Arif as OCA Vice President is a big achievement for Pakistan. It will surely benefit the country in making its presence felt at the important international forum. The Pakistan government should not only engage Arif and the National Olympic Committee Pakistan in development of sports but also comprehend the potential of sports and use it in realization of a bright future of the country.
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Union Minister of Ports Sarbananda Sonowal has inaugurated the indigenous Differential Global Navigation Satellite System (DGNSS) 'SAGAR SAMPARK' to strengthen the maritime sector in India. This will help sailors navigate safely and reduce the risk of col
The Ministry of Ports, Shipping and Waterways is committed towards innovation, building best infrastructure, and strengthening the Indian Maritime sector. Today, to further the digital initiative in maritime sector the Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal inaugurated the indigenous Differential Global Navigation Satellite System (DGNSS) ‘SAGAR SAMPARK’ in the presence of Shri Shripad Y. Naik, the Minister of State of Ports, Shipping and Waterways; Shri TK Ramachandran, IAS Secretary, MoPSW and other senior officials from the ministry and Directorate General of Lighthouses and Lightships. DGNSS is a terrestrial based enhancement system which corrects the errors and inaccuracies in the Global Navigation Satellite System (GNSS) allowing for more accurate positioning information. Speaking on the occasion, Shri Sarbananda Sonowal said, ‘Under the leadership of the Prime Minister, Shri. Narendra Modi ji, the Ministry of Ports, Shipping and Waterways have given high priority to the safety of Navigation, especially due to the considerable increase in shipping volume in the recent past’. He said, the launch of ‘Sagar Sampark - Differential Global Navigation Satellite System (DGNSS)’ at 06 locations under DGLL, will definitely enhance the capability of the DGLL in the field of the Radio Aids to Marine Navigation.’
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China's Zhuque-2 has become the World's first methane propelled rocket to successfully fly into orbit.This was Landscape's second attempt after a launch failed in December.
A private Chinese company launched into orbit on Wednesday the world’s first methane-liquid oxygen rocket, beating U.S. rivals in sending what could become the next generation of launch vehicles into space. The Zhuque-2 carrier rocket blasted off at 9 a.m. (0100 GMT) from the Jiuquan Satellite Launch Center in northwest China and completed its flight according to plan, state media reported. It was the second attempt by Beijing-based LandSpace, one of the earliest firms in China’s commercial launch sector, to launch the Zhuque-2. A first attempt in December failed. Wednesday’s launch put China ahead of U.S. rivals, including Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, in the race to launch carrier vehicles fuelled by methane, which is deemed less polluting, safer, cheaper and a suitable propellant in a reusable rocket. LandSpace also became the second private Chinese company to launch a liquid-propellent rocket. In April, Beijing Tianbing Technology successfully launched a kerosene-oxygen rocket, taking another step towards developing rockets that can be re-fuelled and reused.
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Nikki McCray-Penson, a renowned basketball player and coach, has passed away at the age of 51. She was a two-time Olympic gold medalist and received the MVP award in the American Basketball League (ABL). McCray-Penson battled breast cancer since her diagn
Nikki McCray-Penson, a two-time Olympic gold medalist basketball player, has died at age 51. Rutgers, where McCray-Penson was an assistant coach, confirmed her death. A cause was not given. McCray-Penson was on gold-medal teams at the Olympics in 1996 and 2000 and world championship in 1998. While at the University of Tennessee, she made the national team and developed a reputation as a defensive stopper. In a world championship qualifying tournament in 1993, future Hall of Famer Hortencia scored 37 points as Brazil beat the U.S. in a preliminary game. Yearly Cars | Search AdsUnsold 2022 Cars Clearance Sale: Price Might Surprise You by Tabool. Sponsore. Coach Tara VanDerveer then called on the 21-year-old McCray-Penson to defend Hortencia in the final. She limited Hortencia to two points (the Brazilian scored 15 overall) as the U.S. won. I think that earned her a spot on the Olympic team,” Pat Summitt, her coach at Tennessee, said, according to the Washington Post in 1998. McCray-Penson was the sixth woman on the 1996 Olympic team, then the starting shooting guard at the 2000 Sydney Games. After making three All-Star teams as a WNBA player, she retired and went into coaching. She was an assistant for Olympic teammate Dawn Staley at South Carolina from 2008-17, then was a head coach at Old Dominion and at Mississippi State, stepping down from the latter post after one season for health reasons. Last year was her first season at Rutgers.
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Kerala Governor Arif Mohammed Khan released the Malayalam translation of Krishna – the 7th Sense by Debashis Chatterjee, Director IIM-Kozhikode. He also unveiled the latest edition of Mr. Chatterjee's work Karma Sutras, Leadership and Wisdom in Uncertain
overnor Arif Mohammed Khan released the Malayalam translation of Krishna – the 7th Sense by Debashis Chatterjee, Director IIM-Kozhikode. He also unveiled the latest edition of Mr. Chatterjee’s work Karma Sutras – Leadership and Wisdom in Uncertain Times, the lead book of the IIM-Penguin Series for New Managers. Reading out excerpts from the original English version of Krishna – the 7th Sense, Mr. Khan said that it was a window to transcend human limitations and go beyond what one perceives oneself to be, in the search for love and truth. He emphasised that love can break all boundaries and win everyone by compassion. Kerala Governor Arif Mohammed Khan released the Malayalam translation of the book "Krishna - The 7th Sense" written by Debasish Chatterjee, Director, IIM-Kozhikode. Debasish Chatterjee is a globally acclaimed management guru and an accomplished educationist, with 18 books to his credit in the non-fiction category. Krishna - The 7th Sense" is Professor Chatterjee's award-winning debut novel.
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Jammu-Kashmir government has launched a new Mobile-Dost-App with the vision of Apka-Mobile-Humara-Daftar. This is an effective step of the government for mobile based delivery of the citizen centric services in the U.T. The launch of Mobil-Dost-App in the
Digitisation in the working of the Government has not only changed the lives of the people but it has also improved the delivery of public services in Jammu & Kashmir like many states and union territories of the country. The inauguration of Mobil Dost App by Chief Secretary Dr Arun Kumar Mehta is yet another step of the Jammu & Kashmir Government towards greater digital connectivity and the launch of this app would surely further the causes of the accessibility of people to key public services across Jammu & Kashmir. The launch of this app won’t just only reduce the gaps between the people and the Government but it would also make both the divisional and district administrations responsive to the grievances and demands of the people. Significantly more than 450 public services including certificates, licenses, permits, bill payments, travel and tourism facilities and important details about jobs and developmental initiatives would be accessible on Android mobile handsets through Mobile Dost App. Significantly iOS version of the app is also likely to be launched soon for easing the accessibility of people to basic public services. While digitisation has improved the delivery of some public services but still there are many public services which are yet to be digitised by the Government. It is also a fact that some of the public services like J&K Bank’s Mpay money transaction and J&K PDCL’s pre-paid power bill payment apps are not working well to the entire satisfaction of the people across Jammu & Kashmir. While the irrefutable fact is that people can now approach the top authorities and consequently the departments in a single click through this app with the grievances that remain unattended and unresolved for months and even years together, the responses of the authorities to the public demands and grievances still need to be checked and regulated through a system of checks and balances.
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The Gujarat Government on Tuesday launched the revamped Pradhan Mantri Jan Arogya Yojana-Mukhyamantri Amrutam (PMJAY-MA) scheme, under which people can avail free medical treatment up to Rs 10 lakh instead of the previous limit of Rs 5 lakh.
The Gujarat Government on Tuesday launched the revamped Pradhan Mantri Jan Arogya Yojana-Mukhyamantri Amrutam (PMJAY-MA) scheme, under which people can avail free medical treatment up to Rs 10 lakh instead of the previous limit of Rs 5 lakh. Gujarat Health Minister Rushikesh Patel on Tuesday officially launched the revised health insurance scheme from his office in the presence of health department officials, a state government release said. Starting Tuesday, beneficiaries of the PMJAY-MA in Gujarat will receive an insurance cover of Rs 10 lakh, which is a two-fold rise from the previous cover of Rs 5 lakh, it stated. While the Centre's PMJAY is popularly known as Ayushman Bharat, MA stands for the state government's Mukhyamantri Amrutam (MA) scheme, which was merged with the central health scheme. In the state budget presented in February, state Finance Minister Kanubhai Desai had announced the doubling of insurance cover under PMJAY-MA scheme from Rs 10 lakh from Rs 5 lakh. Now, the announcement has been operationalised. On the occasion, Patel said people who have Ayushman cards can undergo complex surgeries, treatments and transplants of kidney, heart, liver and even cochlear implants in the limit of Rs 10 lakh.
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The Odisha Cabinet recently approved the 'Ama Odisha Nabin Odisha' scheme, allocating a budget of Rs 4,000 crore. The scheme aims to enhance rural infrastructure and preserve the rich cultural heritage of the state, particularly the Jagannath culture.
The scheme is seen as part of the ruling Biju Janata Dal (BJD)’s attempts to counter the BJP’s Hindutva agenda ahead of 2024 assembly and national polls.The Odisha Cabinet this week approved ?4,000 crore “Ama Odisha, Nabin Odisha (Our Odisha, New Odisha)” scheme for rural development and to spread “Lord Jagannath culture” even as the Opposition Bharatiya Janata Party (BJP) and the Congress dismissed it as a pre-poll gimmick. The scheme is a repackaged version of the “Ama Gaon, Ama Bikash (Our village, Our development)” and is seen as part of the ruling Biju Janata Dal (BJD)’s attempts to counter the BJP’s Hindutva agenda ahead of 2024 assembly and national polls. The BJD government has since 2019 undertaken redevelopment of scores of temples in the state including the iconic Jagannath Temple in Puri. It plans to spend over ?4,224.22 crore on transforming Puri’s infrastructure. Chief minister Naveen Patnaik said every panchayat has places of importance rooted in spirituality and history. “It is important for our future generations that they be preserved and protected. And who better to do this important work than our Panchayati Raj institutions through the new scheme. Political observer Satya Prakash Dash said the government may have thought of a smart way to appropriate the Jagannath culture through the new scheme ahead of polls.
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First woman chief secretary of Madhya Pradesh dies at 96
Known for her image of a “strict administrator” in bureaucratic circles, the 1960-batch IAS officer, Buch had served the Chief Secretary of Madhya Pradesh from September 1991 to 1993. The first woman chief secretary of Madhya Pradesh, Nirmala Buch, died of a prolonged age-related illness here on Sunday. She was 96. She had also served as financial and education secretary from 1975-1977. Before that, Buch had served the Yojana Aayog (now NITI Ayog) and she did a pioneering role in framing of ‘gramin vikas’ and ‘panchayati raj’ system in MP. In his condolence message , Chief Minister Shivraj Singh Chouhan said her conscientiousness and administrative efficiency were amazing.
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Gujarat CM Launches Pilot Project of ‘Antyodaya Shramik Suraksha Yojana’ in State
Gujarat CM Bhupendra Patel and Union Minister of State for communications Devusinh Chauhan on July 8 launched the ‘Antyodaya Shramik Suraksha Yojna’ an accident insurance scheme, from Nadia of Kheda district in Gujarat. What in News? Gujarat CM Bhupendra Patel and Union Minister of State for Communication Devusinh Chauhan launched a scheme for the welfare of the laborers named as ‘Antyodaya Shramik Suraksha Scheme’ which is a launched on a pilot basis. Antyodaya Shramik Suraksha Scheme is an accident insurance scheme which will provide the financial assistance to the laborers and their family in case of any accident happen to them at the work place. Due to the implementation of Antyodaya Shramik Suraksha Scheme Gujarat became the first state in India to launch a scheme for the welfare of the laborers. Antyodaya Shramik Suraksha Scheme: Antyodaya Shramik Suraksha Scheme is launched by the Gujarat CM Bhupendra Patel and Union Minister of State for Communication Devusinh Chauhan to provide financial support to the laborers in case of any accident. Departments/Ministries responsible for its implementation: Antyodaya Shramik Suraksha Scheme is implemented through the Indian Postal Department, the Indian Post Payment Banks and the Ministry of Labor and Employment. Objective of the Scheme: The objective of the Antyodaya Shramik Suraksha Scheme is to give priority to the welfare and safety of our Shram Yogis so that they can get financial security in case of an accident happen to them at the work place. Its aim is to remember the contribution and dedication to the laborers in India’s development and provide them with necessary social security.
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UNDP study says 415 million Indians came out of multidimensional poverty in 15 years.
415 million people came out of poverty in India within 15 years between the years 2005/2006 and 2019/2021, with incidence falling from 55.1 per cent in 2005/2006 to 16.4 per cent in 2019/2021, the United Nations (UN) said on Tuesday. The latest update of the global Multidimensional Poverty Index (MPI) was released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford, which revealed the data. The report finding shows that 25 countries, including India, successfully halved their global MPI values within 15 years, which shows that rapid progress is possible. These countries include Cambodia, China, Congo, Honduras, India, Indonesia, Morocco, Serbia, and Vietnam. According to the UN, in April this year, India surpassed China to become the world's most populous nation, with 142.86 crore people. "Notably, India saw a remarkable reduction in poverty, with 415 million people exiting poverty within a span of just 15 years (2005/6 19/21)," the report stated. The report emphasises on the fact that poverty reduction is achievable. However, it said that the lack of comprehensive data during the COVID-19 pandemic poses challenges in assessing immediate prospects.
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Multilateral development banks pledge upto $27 bn for India's green growth
The European Investment Bank (EIB) has pledged one billion euros to develop a large-scale hydrogen industry hub, while the Asian Development Bank (ADB) intends to provide $20-$25 billion over five years to support India's green growth during International Conference on Green Hydrogen (ICGH-2023), held between July 5 and July 7 in India. The World Bank has also approved $1.5 billion to aid India's low-carbon transition journey. “The European Investment Bank (EIB) will be our Hydrogen ally and would support for developing large scale Industry hub with a funding of 1 billion Euros. The Asian Development Bank (ADB) has recently conveyed their intent to provide $20–$25 billion over five years to aid India’s aspirations for green growth. That’s not all, The World Bank has approved $1.5 Billion in Financing to Support India’s Low-Carbon transition journey”, said Hardeep Singh Puri. During the ICGH-2023, the Government of India showcased its dedication to ramping up green hydrogen production and aligning with global trends. The conference brought together stakeholders from India and worldwide, engaging in discussions on technology, applications, policy, and regulation.
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IDFC FIRST Bank partners Vistara and Mastercard to launch new travel credit card
Club Vistara IDFC FIRST Credit Card Features and Benefits: IDFC FIRST Bank has collaborated with Club Vistara and Mastercard to launch a travel credit card that promises exciting travel and lifestyle-related offers to cardholders. In a statement, the IDFC First Bank said the co-branded credit card is designed to redefine travel experiences and empower cardholders to embark on their journeys with confidence, and in style. The card will meet the ever-changing demands of new-age travellers, blending convenience and security to enhance travel experiences, the bank said. Some of the offers on the new credit card include exclusive entry to airport lounges and complimentary flight tickets to accelerated reward points. It will offer a comprehensive solution tailored specifically for frequent flyers and travel enthusiasts.
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Citi Commercial Bank Launches New Digital Client Platform, CitiDirect® Commercial Banking.
Citi has announced the launch of a new platform, CitiDirect® Commercial Banking, specifically to address the needs of Citi Commercial Bank (CCB) clients. This is part of Citi’s significant strategic investment plan to meet the growing global needs of these clients by delivering a single-entry point digital platform. CitiDirect® Commercial Banking brings together Citi’s global products and services into a single digital platform, providing clients with a 360° consolidated view of their Citi banking relationship across Cash, Loans, Trade, FX, Servicing and Onboarding. The platform is currently live in the U.S., with over two thirds of our U.S. client base actively using the platform, and CCB plans to pilot it in the second half of 2023 across Hong Kong, India, Singapore, and the U.K. The CitiDirect® Commercial Banking platform has been created in close collaboration with CCB clients, and as a result offers an intuitive and seamless digital experience. Key features include access to data driven insights necessary to help inform decision making, efficient management of day-to-day banking interactions with Citi in one place. Clients can also digitally open accounts and request new products and services, extending our self-service features, which significantly enhances the experience for clients as they grow, and their needs evolve. Tasnim Ghiawadwala, Global Head of CCB, commented: “This is an important milestone in delivering on our commitments set out during Citi’s 2022 Investor Day. At the time, we spoke about our intention to deliver on a differentiated client experience through a single digital platform, that will empower clients and save them time, while offering them complete visibility and control. We anticipate that CitiDirect® Commercial Banking will continue to evolve to support our clients as they grow their businesses globally.”
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Larsen & Toubro on Tuesday said it has signed the Master Shipyard Repair Agreement with the US Navy to further strengthen the partnership between the two countries in the defence sector.
The Master Shipyard Repair Agreement with the US Navy to further strengthen the partnership between the two countries in the defence sector. L&T's Kattupalli Shipyard, near Chennai, a major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels, the firm said in a statement. After an elaborate assessment by the US Navy and the Military Sealift Command, the shipyard qualified for the Master Shipyard Repair Agreement (MSRA). This is equivalent to undertaking warship refits, for which the shipyard has already been qualified by the Indian Navy and the Coast Guard, it said. The US Navy Ship (USNS) Salvor arrived at Larsen & Toubro Ltd (L&T) shipyard, in Kattupalli near Chennai, making it the first to conduct a mid-voyage repair under the five-year Master Ship Repair agreement (MSRA) between the US Navy.
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Inauguration of Product Design Centre and Launch of Grain-Ex system for appearance based e-Quality detection system developed under MeitY supported projects.
Ministry of Electronics and Information Technology (MeitY) Additional Secretary Shri Bhuvnesh Kumar has inaugurated Product Design Centre (PDC), set up at Centre for Development of Advanced Computing (C-DAC), Kolkata. The centre has prototyping and system designing facilities equipped with all the software and printing technologies for system designing, prototyping, ideation and fabrication. This facility will be beneficial to startups, enterpreneurs and MSME’s of the eastern region of the country. An appearance based detection system i.e., Grain-Ex through machine vision technology for pulses developed under ‘National programme on Electronics and ICT applications in Agriculture and Environment (AgriEnIcs)’ alongwith ICAR-IARI, New Delhi was also launched on this occasion. The appearance based e-Quality detection system for 14 types of pulses (Grain-Ex), would bring about a transformative change in the e-NAM markets for quality based pricing. This will be helpful for more than 1,200 e-NAM connected markets. The inauguration and launch was done in the presence of Smt Sunita Verma, Group Coordinator, MeitY; Shri Aditya Kumar Sinha, Director, C-DAC, Kolkata; Dr Om Krishan Singh, Scientist ‘D’, MeitY; other industry partners, project team members and other respected dignitaries representing various users and line ministry.
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International Malala Day is observed on July 12 each year to honor the bravery and activism of Malala Yousafzai, a Pakistani advocate for girls’ education and the youngest person to receive the Nobel Prize.
International Malala Day 2023 will be addressing the 10th anniversary of Malala Yousafzai event. This special day was first celebrated in 2013, marking one year since Malala was attacked by the Taliban. She was shot in the head while returning home from school because she had spoken out in support of girls’ right to education. Despite the attack, Malala survived and became a global champion for education. In 2015, the United Nations officially designated July 12 as International Malala Day. Today, people all over the world celebrate this occasion by organizing events that promote education for girls and women. Malala is an inspirational figure who strongly advocates for women’s rights and education. The theme of fame is prominent in the book “I Am Malala,” highlighting how renowned individuals, like heroes and role models, can either contribute to societal progress or distract from it. Malala Yousafzai embodies courage as she fearlessly confronts hatred and fights for her convictions. Despite the danger posed by the failed assassination attempt she experienced, she remains determined to persist in her cause.International Malala Day 2023 will be addressing the 10th anniversary of Malala Yousafzai event. This special day was first celebrated in 2013, marking one year since Malala was attacked by the Taliban. She was shot in the head while returning home from school because she had spoken out in support of girls’ right to education. Despite the attack, Malala survived and became a global champion for education. In 2015, the United Nations officially designated July 12 as International Malala Day. Today, people all over the world celebrate this occasion by organizing events that promote education for girls and women. Malala is an inspirational figure who strongly advocates for women’s rights and education. The theme of fame is prominent in the book “I Am Malala,” highlighting how renowned individuals, like heroes and role models, can either contribute to societal progress or distract from it. Malala Yousafzai embodies courage as she fearlessly confronts hatred and fights for her convictions. Despite the danger posed by the failed assassination attempt she experienced, she remains determined to persist in her cause.
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India’s State of Maharashtra and Gogoro to Partner On ‘Ultra Mega Project’ to Manufacture and Deploy Smart Battery Infrastructure that Would Exceed $1.5 Billion Over Eight Years
The Indian State of Maharashtra and Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced that the Maharashtra government had presented Gogoro with an offer letter to enter into an ‘Ultra Mega Project’ agreement to manufacture vehicles, smart battery packs and battery swap stations, and deploy an open and accessible battery swapping infrastructure in the State beginning in late 20231. The announcement was made, at a Maharashtra’s State Government press conference, by Chief Minister Shri. The proposed Ultra Mega Project deal would exceed $1.5 billion and include financial incentives and support from Maharashtra. The offer letter follows a MOU between Maharashtra and Gogoro that was previously announced at Davos in January 2023. The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500 million that usually result in government incentives to ensure successful project execution. Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon. “As the leading State in India for electric vehicles, Maharashtra is demonstrating our strong commitment towards sustainable transportation for all. We are creating a smart battery ecosystem with Gogoro, a leader in sustainable vehicles and electric fuel technologies.
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The Government of Meghalaya and NTPC Limited have signed a series of Memorandum of Understanding (MoUs) aimed at enhancing the power scenario in Meghalaya.
The Government of Meghalaya and NTPC Limited have signed a series of Memorandum of Understanding (MoUs) aimed at enhancing the power scenario in Meghalaya. The signing ceremony took place at New Delhi in the presence of Chief Minister Conrad K Sangma, Power Minister Abu Taher Mondal, Gurdeep Singh, Chairman and Managing Director of NTPC Limited and Sanjay Goyal, CMD, MeECL. These strategic MoUs mark a significant milestone in the collaborative efforts to uplift the power infrastructure and connectivity across Meghalaya. The agreements encompass the Power Portfolio Management Services (PMS) for Meghalaya Discom, setting up of Pump Storage Power Plants (PSPs), and implementation of Floating Solar projects in the state. The PMS MoU between the Government of Meghalaya and NTPC Limited will streamline the management and operations of Meghalaya Discom, ensuring efficient distribution of power and improved service delivery to the people. It also aims at better power portfolio management of MeECL through a team of professionals thus building upon the strength and expertise of the NTPC in this field. It will also lead to judicious utilization of own power resources of MeECL as well as better mix and use of renewable and green energy available in the country.By leveraging NTPC's expertise in project management, this partnership aims to enhance the overall power infrastructure and reduce transmission losses. Additionally, the MoUs emphasize the development of Pump Storage Power Plant (PSPs) and the deployment of Floating Solar projects in Meghalaya. It also aims at exploring the untapped potential on the small hydro projects. It will also study the feasibility of setting up the pump storage plants which will generate electricity and the water will be pumped back again to the reservoirs like Umiam so that the water can be used again and again to meet the peak demand.
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India rises in digital and sustainable trade facilitation rankings, scores 100% on transparency
India’s score has jumped to 93.55% in 2023 from 90.32% in 2021 in the United Nation’s Economic and Social Commission for Asia Pacific’s (UNESCAP) latest global survey on digital and sustainable trade facilitation. The 2023 survey, covering more than 140 economies and evaluating 60 trade facilitation measures, has positioned India at the forefront of global trade facilitation e?orts, with an impressive score of 93.55% in 2023 vis a vis 90.32% in 2021," the ministry of finance said in a statement.India’s exceptional performance was highlighted in various sub-indicators, with perfect scores of 100% achieved in key areas such as transparency, formalities, institutional arrangement and cooperation, and paperless trade. This outstanding recognition reflects India’s continuous efforts to streamline trade procedures and improve transparency through initiatives such as turant customs, single window interface for facilitation of trade (SWIFT), pre-arrival data processing, e-Sanchit, and coordinated border management.