Sports News Updates

German jobless total falls more than expected in October

Thursday, November 2 2017

German jobless total falls more than expected in October

German jobless total falls more than expected in October German jobless total falls more than expected in October Source : 14:42 hrs BERLIN (Reuters) - Germany's unemployment total fell slightly more than expected in October, data showed on Thursday, reflecting the strength of a labour market that continues to generate new jobs and support a consumption-led upswing in Europe's largest economy. Data published by the Federal Labour Office showed the seasonally adjusted jobless total fell by 11,000 to 2.495 million, a bigger drop than the 10,000 forecast in a Reuters poll. The unemployment rate remained at 5.6 percent, the lowest level since reunification in 1990. "The positive development on the labour market persists," Labour Office chief Detlef Scheele said in a statement. "The strong upturn in the autumn has led to both unemployment and underemployment falling more strongly than usual." The healthy labour market should continue supporting a consumption-based growth cycle in Germany, contributing to rising tax revenues that will give the next government fiscal leeway to boost investment. Chancellor Angela Merkel's conservatives are trying to form a coalition government with the pro-business Free Democrats (FDP) and the Greens after an election in September. The Greens want to boost investment in environmentally friendly techonologies as well as infrustructure, digitalization and education. The FDP and convervatives prioritise tax cuts. (Reporting by Joseph Nasr; Editing by Paul Carrel) SEARCH

Russia says working with Saudi on energy investment, mega city

Thursday, November 2 2017

Russia says working with Saudi on energy investment, mega city

Russia says working with Saudi on energy investment, mega city Russia says working with Saudi on energy investment, mega city Source : 15:05 hrs By Katie Paul RIYADH (Reuters) - Russia is working closely with Saudi Arabia to facilitate bilateral investment in the energy sector and Russian companies are interested in the kingdom's planned new NEOM business zone, energy minister Alexander Novak said on Thursday. Novak, who was at an investment event in Riyadh held by the two oil producers, said Russian companies were looking at various Saudi sectors such as solar, healthcare, education, artificial intelligence and port infrastructure, according to the Russian energy ministry's Twitter account. He said that Moscow was working with the Saudi energy ministry to encourage Russian investment in the kingdom's energy sector and vice versa, without giving details. Last week the chief executive of The Russian Direct Investment Fund (RDIF) told reporters that it plans to participate in building NEOM, a new $500 billion mega-city, in ventures worth several billion dollars in total. The RDIF and Saudi Arabia's main sovereign wealth fund PIF have already invested $1 billion in nine joint projects, according to Russia's energy ministry. There are around 25 more projects worth $10 billion under consideration as part of the strategic partnership, the ministry wrote on Twitter, adding that Russian exports to the kingdom have almost doubled this year. "Cooperation on the 'peaceful atom' could be key," Novak is quoted as saying, referring to nuclear energy. Saudi Arabia plans to award a construction contract for its first two nuclear reactors in 2018. [L8N1ML608] Novak was part of a Russian delegation including executives from companies such as Gazprom, SIBUR, Lukoil, Sinara, KAMAZ, TMK, United Heavy Machinery Plants, Russian Railways, and Nevsky Machine, according to an RDIF news release. The trip follows a visit by Saudi King Salman to Russia last month in talks which cemented a relationship that is pivotal for world oil prices and could decide the outcome of the conflict in Syria. (Reporting by Katie Paul in Riyadh and Vladimir Soldatkin in Moscow, Writing by Sylvia Westall; Editing by Andrew Torchia and Emelia Sithole-Matarise) SEARCH

Bank employees shouldered worst impact of demonetisation: Unions

Thursday, November 2 2017

Bank employees shouldered worst impact of demonetisation: Unions

Bank employees shouldered worst impact of demonetisation: Unions Bank employees shouldered worst impact of demonetisation: Unions Source : 13:07 hrs Kolkata/Chennai : As bank customers suffered by waiting in long queues to withdraw their money from November onwards last year, another group of people bank employees endured the hardship of extended work hours and customer anger. The employees, say bank unions, bore the major brunt of the sudden decision announced on November 8 last year by the Prime Minister. "Banking personnel were rigorously working towards recovery of bad loans before the announcement of demonetisation, but the entire drive of recovery got derailed after the announcement as employees had to work day and night for giving service to depositors," Sanjay Das, Assistant General Secretary of the All India Bank Officers' Confederation, told IANS. The bank unions said that of the more than 100 persons who lost their lives during the demonetisation chaos, over 10 were bank employees and officers. Das said that despite the enormous amount of extra work put in by the employees, very few were compensated. "Over 50 per cent of employees and officers are yet to get their compensation for the extra work they did during the demonetisation period," Das said. According to C.H. Venkatachalam, General Secretary of the All India Bank Employees' Association, the whole experience had left "a big scar in the minds of bankers". He said a million bank employees handling 1,000 million people coming to branches to deposit old notes was certainly a big task. He said the bankers were abused by the general public for not disbursing new notes and diverting the same to others. "The RBI made matters worse by saying that sufficient number of new notes were disbursed to banks," he added. He said the bank managements were not bothered about the problems faced by branch officials. The Reserve Bank of India (RBI) also asked bankers to work on Saturdays and Sundays. Officials in the branch were in office till late in the evening. Although some clerical staff, he said, were paid overtime, officers were left out. Pradip Biswas, General Secretary of the Bank Employees Federation of India, said that not only employees but even the banks had not been reimbursed by the government for the cost incurred on recalibration of ATMs. Criticising demonetisation, Biswas doubted that the whole exercise was done to unearth black money as claimed by the government. "The annual report of the RBI revealed that Rs 15.28 lakh crore, or 99 per cent of Rs 15.44 lakh crore of scrapped notes, came back into the system after demonetisation. Now the question arises: was the demonetisation scheme designed to convert black money into white?" Biswas wondered. He said the government had described it as a fight against black money, funding of terrorist outfits and counterfeit currency. "But all their claims have fallen flat," he said. "The scrapping of notes failed miserably in addressing its objective of striking a blow against the black economy. Instead, the side effect of the note ban has impacted the banking industry adversely," said Das, who is also the West Bengal State Secretary for the union. The massive inflows of bank notes put a strain on the banks' daily operations and banking personnel were not able to focus on credit disbursement, which resulted in potential loss of banks' income, Das said, adding that bank credit growth came down to about 5.1 per cent in 2016-17 from an average of 11.72 per cent in the previous five years. The apex bank too has mentioned that banks' preoccupation with exchange of notes and deposits was one the factors for low credit growth. "Credit growth touched a low in more than two decades on account of factors such as subdued state of economic activity, risk aversion of the banking sector... loan repayment by use of specified bank notes (old notes) and banks' pre-occupation with exchange of notes and deposits following demonetisation," said the RBI's latest annual report. D. Thomas Franco Rajendra Dev, General Secretary of the All India Bank Officers Confederation, said that, initially, they had welcomed the government's move. "But it turned out to be a nightmare for the bankers." He said people thought bankers were at fault for not disbursing the new notes, but "the RBI supplied new currencies only to private banks daily and not to government-owned banks". Dev said the government should probe whether new notes found their way into the hands of industrialists and businessmen directly from the currency printing presses. But some senior bank officers differ with the unions about the impact of demonetisation on the economy in the long run. "Right now people are complaining, but one thing is certain that (huge) money has come into circulation. Banks have accessed low-cost deposits and, subsequently, lenders have reduced the lending rates," said Punjab National Bank Executive Director Sanjiv Sharan. One year down the line, economic conditions would improve, and with the government's thrust on low-cost housing and infrastructure development, credit demand would grow, he added. "For the time being it may seem that demonetisation is disturbing the economy. But in the long run, it will help it," Sharan contended. SEARCH

Rahul's meet with Chinese envoy represents lack of primary understanding: Modi

Thursday, November 2 2017

Rahul's meet with Chinese envoy represents lack of primary understanding: Modi

Rahul's meet with Chinese envoy represents lack of primary understanding: Modi Rahul's meet with Chinese envoy represents lack of primary understanding: Modi Source : 13:47 hrs [India], November 2 (ANI): Prime Minister Narendra Modi on Thursday attacked Congress Vice-President Rahul Gandhi over his July meeting with Chinese envoy over Doklam, saying it represented a lack of primary understanding. "During Doklam row, people said that Modi ji must not forget 1962. Isn't it insulting when these people held talks with Chinese leaders on Doklam instead of asking the elected government? This represents a lack of primary understanding," the Prime Minister said, while addressing a public rally here. The Prime Minister further said the country was aware how the government dealt with the Doklam issue, but the Congress even raised questions on that. Mod also said that the Congress had become a laughing stock and that they needed to introspect why people were turning away from them across the country. "I have worked extensively in Himachal Pradesh and I am very familiar with all cities. I know each and every street here. There are five monsters in Himachal Pradesh which we need to get rid off - mining mafia, forest mafia, drug mafia, tender mafia and transfer mafia," Modi said. The state is set to go to polls on November 9. (ANI) SEARCH talking point on sify news Latest Features

Mukesh Ambani tops Forbes' 2017 list of India's 100 richest tycoons

Thursday, November 2 2017

Mukesh Ambani tops Forbes' 2017 list of India's 100 richest tycoons

Mukesh Ambani tops Forbes' 2017 list of India's 100 richest tycoons Mukesh Ambani tops Forbes' 2017 list of India's 100 richest tycoons Source : 14:04 hrs New Delhi: With a net worth of $38 billion, Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped Forbes annual list of Indias 100 richest tycoons of 2017, a statement said here on Thursday. "Reliance Industries Ltd chairman Mukesh Ambani has topped Forbes's annual list of India's 100 richest tycoons, with a net worth of $38 billion. To put it in context, this is equal to the entire GDP of the former Soviet republic of Azerbaijan, as per World Bank Data 2016 estimates," the statement said. Forbes India, will release the 2017 India Rich List by way of a special issue that hits the stands on November 3, 2017. The richest newcomer in the list is Wadia Group of companies Chairman Nusli Wadia (No. 25, $5.6 billion). At $19 billion, the net worth of Wipro's Azim Premji - who jumped two places up over last year to become the second richest Indian on the list - is almost equal to Afghanistan's GDP of $19.4 billion, the statement said. The Hinduja family maintained the third position ($18.4 billion) in the list. Last year's second richest Indian, Dilip Shanghvi of Sun Pharmaceuticals (No. 9, $12.1 billion) is the biggest dollar loser on the list as his net worth fell by $4.8 billion. "The Indian economy is still grappling with the impact of demonetisation and GST. This makes The Forbes India Rich List 2017 edition special since it features those who have faced the challenges head on and continued to deliver phenomenal results. The list has come to stand as a testament to brand India and also puts many emerging successful entrepreneurs on the global map," said Joy Chakraborthy, CEO, Forbes India. According to the list, the total wealth of India's top 100 billionaires, which stands at a whopping $479 billion, is more than the country's foreign exchange reserves estimated at $402.5 billion in September 2017. The entry point to the list is at its highest ever, at $1.46 billion. Last year, the minimum amount required to make the list was $1.25 billion, 17 percent lower than this year. The aggregate wealth of the top 100 has risen 26 percent over last year. SEARCH

First priority is to meet goal set by PM Modi: ONGC CMD Shanker

Thursday, November 2 2017

First priority is to meet goal set by PM Modi: ONGC CMD Shanker

First priority is to meet goal set by PM Modi: ONGC CMD Shanker First priority is to meet goal set by PM Modi: ONGC CMD Shanker Source : 14:03 hrs [India] Nov. 2 (ANI) Shashi Shanker, Chairman and Managing Director (CMD) of the Oil and Natural Gas Corporation (ONGC), on Thursday said the company's first priority is to meet the import decrease goal set by Prime Minister Narendra Modi. Talking exclusively to ANI, Shanker said Prime Minister Modi has exhorted the ONGC to decrease imports by 10 percent by 2022. "Our first priority is to increase domestic production in order to meet the goal set by Prime Minister Modi," Shanker said. He further informed that the roadmap to meet this goal is ready. "The production of ONGC was stagnant for the last few years, but production during 2016-17 and 2017-18 has increased. The production of crude oil, and gas has increased. This growth story shall keep on increasing. We have asked every company to increase energy efficiency and look for alternatives. Our first priority is to achieve this target and we have a roadmap ready to fulfill this target," Shanker said. He also said that the other challenge before the corporation is superannuation of staff. "Our, second priority is to deal with superannuation in ONGC, due to which the experienced hands are retiring. So, it is our priority to groom and make our younger workforce ready so that they are able to take up the responsibilities," he added. In September, Shashi Shanker was appointed CMD of India's biggest oil and gas producer, ONGC, till March 2021. Shanker is an industry veteran with over 30 years of experience in diverse E&P activities. He is a Petroleum Engineer from Indian School of Mines (ISM), Dhanbad. He also holds an MBA degree with specialisation in Finance. He has also received executive education from prestigious Indian Institute of Management, Lucknow and Indian School of Business, Hyderabad. (ANI) SEARCH talking point on sify news Latest Features

Delhi airport woes: Separate counters for business/first class may reduce T-3 immigration lines

Thursday, November 2 2017

Delhi airport woes: Separate counters for business/first class may reduce T-3 immigration lines

Delhi airport woes: Separate counters for business/first class may reduce T-3 immigration lines Delhi airport woes: Separate counters for business/first class may reduce T-3 immigration lines Source : Last Updated: Thu, Nov 02, 2017 14:03 hrs [India], November 2 (ANI): In the wake of the Indira Gandhi International (IGI) Airport witnessing serpentine queues of passengers of late, the government has been planning to make the check-in process at the Terminal III of the airport smoother. Apart from increasing the manpower at the immigration desks, one of the other measures taken is the re-introduction of separate immigration counters for the business and the first class, as confirmed to ANI by the Delhi International Airport Limited (DIAL) CEO, I. Prabhakara Rao. DIAL has further introduced a smart security lane with an automated tray retrieve system (ATRS), which is expected bring down the waiting time during the security check-in, O.P. Singh, DG, CISF, told ANI. The above-mentioned decisions were taken following numerous complaints to the government by the passengers, who alleged that they missed flights and if not that, had to sweat it out for long hours in the queues. Several of these passengers even took to the social media and described their ordeal. "For DIAL, it was negative publicity. The Terminal III is the world's second largest airport and has been facing massive resource crunch, especially at the immigration centres," the DIAL CEO told ANI. "The immigration counters of the business and the first class are open with effect from today. They had been closed on October 25," he added. It's also reported that the CISF will have a greater role to play in the proper management of the passengers at the counters. "The CISF has earlier also met with this type of challenges. We are handling one lakh passengers at the arrival and the departure areas. During festivals, we expect a heavy crowd. The situation is absolutely normal these days. The issue is being handled by other organisations. But we are trying to closely supervise the process and have a close coordination with all the stakeholders," Singh said. (ANI) SEARCH talking point on sify news Latest Features

Khichdi as national food: Food ministry denies, Twitter simmers with reactions

Thursday, November 2 2017

Khichdi as national food: Food ministry denies, Twitter simmers with reactions

Khichdi as national food: Food ministry denies, Twitter simmers with reactions Khichdi as national food: Food ministry denies, Twitter simmers with reactions Source : 14:45 hrs [India], November 2 (ANI): Even as India's favourite comfort food 'Khichdi' made headlines with reports suggesting it would be soon declared as the 'National Food', the Union Minister of Food Processing, Harsimrat Kaur Badal, clarified it was only selected for the World Food India event in a bid to popularise it. But before the clarification, what ensued on Twitter was nothing short of an unadulterated depiction of how Khichdi unifies the Indians across the country. Twitter simmered with reactions to preliminary reports and #Khichdi began trending. One user said, "Khichdi to be National Dish. Why? Is the nation ill??" another joked, "In a world of #Biryani be someone's #khichdi Desi love ????" One of the users had a pertinent question to ask: "Do I have to stand up when I eat khichdi now that it is a national dish?" Some had suggestions: "If Khichdi is being accorded the status of National Food, then Ghee, Dahi, Papad and Achaar should immediately be declared National Friends." Few loved it: "#Khichdi is the yummiest food." For the uninitiated, Badal's clarification came hours after 'Khichdi' began to trend on the social media. "Enough Khichdi cooked up on a fictitious 'National Dish'. It has only been put for a record entry in #WorldFoodIndia," Badal tweeted on Wednesday. "#WorldFoodIndia will proudly showcase India's culinary diversity...looks like today has been a slow news day! :)" Chef Sanjeev Kapoor will be attempting to create a World Record by cooking 800 kg of Khichdi on November 4 at the India Gate Lawns, on one of the days in a three day-long 'World Food India', organised by the Ministry of Food Processing Industries. (ANI) SEARCH talking point on sify news Latest Features

Right-wing can't deny existence of Hindu terror: Kamal Haasan

Thursday, November 2 2017

Right-wing can't deny existence of Hindu terror: Kamal Haasan

Right-wing can't deny existence of Hindu terror: Kamal Haasan Right-wing can't deny existence of Hindu terror: Kamal Haasan Source : SIFY 13:39 hrs Chennai : Actor Kamal Haasan, who has off late taken a keen interest in the political world, claimed that there exists Hindu terror and that the right-wing cannot deny the same. Writing for his weekly series in a Tamil magazine, the actor said, "You can't say there is no Hindu terror. Earlier, Hindu extremists held dialogue, now they indulge in violence." He further added that people today have lost faith in Satyameva Jayate. "Truth alone triumphs has now become strength alone triumphs. This has made people inhuman." His comments came in the wake of Kerala CM Pinarayi Vijayan asking the actor about what he felt on the recent communalisation which aims to destroy the Tamil Dravidian tradition of peaceful co-existence. The actor's recent statements and moves seem like an indication about his decision to stay away from BJP. Kamal was recently see supporting the Tamil movie 'Mersal', which faced the ire of BJP for mocking GST in a scene from the film. He also hinted at some important news that will be revealed on his birthday, November 7. He said that it’s time for an emergency operation and can’t wait anymore for good things to happen on its own. “I have an unsettling anger on thieves who converted human services like education, medicine, and politics into business. I can see a young army waiting for the right time and feel that it’s my duty and necessity to unit them”, said Kamal In a surprising U-turn, he also earlier apologised to the people for supporting the Centre's demonetisation policy. The actor, whose political ambitions are well-known, issued an apology in a column for Tamil magazine Ananda Vikatan. Titled "A big apology", Haasan wrote, "I owe it to the people to apologise for supporting the plan in a hurry." Noting that he was not the kind of person who was afraid of apologising, the actor went on to state that he had fully supported the Centre's policy as he thought it was going to get rid of black money and had also thought people should bear the little inconveniences that arise out of demonetisation. Kamal was among a host of celebrities across India who had tweeted in support of demonetisation last November. SEARCH talking point on sify news Latest Features

European shares hold near two-yr highs before BoE decision

Thursday, November 2 2017

European shares hold near two-yr highs before BoE decision

European shares hold near two-yr highs before BoE decision European shares hold near two-yr highs before BoE decision Source : 19 hrs LONDON, Nov 2 (Reuters) - European shares hovered near two-year highs on Thursday, with trading muted as investors battened down the hatches ahead of the Bank of England's policy meeting, though a profit warning from Playtech punctured the calm in early deals. The pan-European STOXX 600 steadied near two-year highs on Thursday, with British, German and French stocks also broadly flat as investors awaited the BOE's 1200 GMT decision. The bank is widely expected to raise interest rates for the first time since 2007, and a decision to hold rates is likely to prove disruptive, analysts say. The calm was however punctured by gambling technology company Playtech, shares in which plummeted 21 percent after warning on profit due to a slowdown in parts of Asia and problems with a bingo contract. Strong results from oil services firm Tenaris sent the stock up 6 percent and helped Italy's benchmark outperform peers, up 0.4 percent. With nearly half of European companies having reported for the third quarter, industrial, financial and tech sectors stand out as the best-performing, according to Thomson Reuters data. Overall 66 percent of companies in the MSCI Europe have beat or met earnings expectations, underpinning regional indices' gains. Results from banks Credit Suisse and ING confirmed the strong performance of the sector which investors have warmed to this year as a play on Europe's return to growth. Both beat expectations for third-quarter profit. Credit Suisse shares gained 2 percent, helping financials add the most points to the index. Randgold Resources tumbled 6.4 percent after third-quarter results missed forecasts. UK online grocer Ocado also tumbled 3.7 percent. (Reporting by Helen Reid; editing by Sujata Rao) SEARCH

BRIEF-Ge T&D India sells global financial shared services business to Ge India Industrial Pvt Ltd

Friday, November 3 2017

BRIEF-Ge T&D India sells global financial shared services business to Ge India Industrial Pvt Ltd

BRIEF-Ge T&D India sells global financial shared services business to Ge India Industrial Pvt Ltd BRIEF-Ge T&D India sells global financial shared services business to Ge India Industrial Pvt Ltd 20 hrs Nov 3 (Reuters) - Ge T&D India Ltd * Ge T&D India - sells global financial shared services business to Ge India Industrial Private Limited​ * Ge T&D India - deal for consideration of 65 million rupees Source text for Eikon: Further company coverage: SEARCH

Wall Street flat as Apple offsets weak wage growth concerns

Friday, November 3 2017

Wall Street flat as Apple offsets weak wage growth concerns

Wall Street flat as Apple offsets weak wage growth concerns Wall Street flat as Apple offsets weak wage growth concerns 43 hrs By Sruthi Shankar (Reuters) - U.S. stocks were flat in early trading on Friday after October payrolls data triggered concerns about weak wage growth and drop in labor force participation. However, a 3 percent surge in Apple's shares provided support after the company's blowout quarterly results and reports of strong initial demand for its new iPhone X. Apple's gains helped Dow open at a record level. The stock opened at $174, briefly breaching the $900 billion market capitalization mark. The Labor Department's closely watched employment report showed U.S. job growth accelerated in October after hurricane-related disruptions in the prior month. Nonfarm payrolls increased by 261,000 jobs last month but was below economists' expectations for a rise of 310,000. "Employment growth is indeed slowing ... This is basically healthy but certainly we're moving toward the end of the cycle," said Brad McMillan, chief investment officer at Commonwealth Financial. Unemployment rate fell to near a 17-year low of 4.1 percent, but that was because 765,000 people dropped out of the labor force. Average hourly earnings slipped by one cent, leaving them unchanged in percentage terms. That lowered the year-on-year increase to 2.4 percent, the smallest since February 2016. "(Wage growth) is worrying. There's not a lot of good news there. Lower paid workers going back to work after the hurricane would drag it down but you'd expect to see some small wage growth, not flat," said McMillan. The data, however, did little to move the case for an interest rate increase by the Federal Reserve in December. At 9:40 a.m. ET (1340 GMT), the Dow Jones Industrial Average was down 4.2 points, or 0.02 percent, at 23,512.06, the S&P 500 was down 1.47 points, or 0.06 percent, at 2,578.38. The Nasdaq Composite was up 6.15 points, or 0.09 percent, at 6,721.09. Five of the 11 major S&P sectors were lower, led by losses in financial index. It has been a busy week for market, with President Donald Trump on Thursday tapping Fed Governor Jerome Powell to become head of the U.S. central bank and House Republicans disclosing their long-delayed plans for tax cuts. AIG fell 4.69 percent after the insurer posted a bigger loss on huge catastrophe losses and said it set aside more in reserves. Declining issues outnumbered advancers on the NYSE by 1,480 to 1,079. On the Nasdaq, 1,320 issues fell and 971 advanced. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila) SEARCH