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Australian Open: Prajnesh loses in straight sets to American Tiafoe

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prajnesh gunneswaran aus open reuters

Prajnesh Gunneswaran’s maiden Grand Slam appearance ended in disappointment after American Frances Tiafoe defeated the Indian in straight sets in the opening round of the Australian Open on Monday.

Tiafoe defeated Gunneswaran 7-6 (9-7) 6-3 6-3 to set up a second round clash with big South African Kevin Anderson.

World No. 39 American beat the Indian qualifier in a match that lasted an hour and 52 minutes.

Guuneswaran fought hard in the first set which went into the tie-breaker after both players held their serve till the 12th game.

In the tie-breaker, Tiafoe got a mini-break and then closed the set at 9-7 in the tie-breaker.

Once he won the first set, the American completely dominated the 106th ranked Indian in the second and third sets respectively.

Prajnesh’s first serve let him down in the second set and his success rate was 43 percent compared to 72 per cent of the American.

Tiafoe converted two break points in the third and sixth game of the second set to take it 6-3.

In the final set, Tiafoe got an important break of serve against the left-handed Gunneswaran in the eighth game and then closed the match in the ninth game to end India’s lone challenge in the singles event.

In the women’s event, Ankita Raina and Karman Kaur Thandi failed to cross the early hurdle losing in the second and first round respectively in the qualifiers.

PM receives Philip Kotler award for his outstanding leadership

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philipPrime Minister Narendra Modi on Monday received the first-ever Philip Kotler Presidential award which focuses on the triple bottom line of the ‘people, profit and planet’. It’s offered annually to the leader of a nation, a statement from the Prime Minister’s office said.

According to the award citation, Modi was selected for his “outstanding leadership for the nation”. His selfless service towards India, combined with his tireless energy has resulted in extraordinary economic, social and technological advances in the country,” it read.

The citation also states that under his leadership, India is now identified as the centre for innovation and value added manufacturing (Make in India), as well as a global hub for professional services such as information technology, accounting and finance. The statement quoted the citation as saying Modi’s visionary leadership has also resulted in the digital revolution (Digital India) which includes the Unique Identification Number, Aadhaar, for social benefits and financial inclusion.

The statement further read that the mentions initiatives such as Make in India, Startup India, Digital India and Swachh Bharat Abhiyan, which have positioned India as one of the most lucrative manufacturing and business destinations in the world.

Philip Kotler is a professor of marketing at Northwestern University, Kellogg School of Management. Owing to his ill health, Jagdish Sheth of EMORY University, Georgia was deputed to confer the award to Modi.

MHA to empower mass surveillance agencies

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mha 1The Supreme Court on Monday issued a notice to the Centre on a Public Interest Litigation (PIL) filed against the Ministry of Home Affairs’ (MHA) on December 20, notification that allows ten agencies to monitor any computer resource. The apex court said that it will examine the issue and sought the reply from centre within six weeks.

On December 20, the MHA had issued the notification empowering ten agencies for mass surveillance. The agencies include, the Intelligence Bureau, Narcotics Control Bureau, Enforcement Directorate, Central Board of Direct Taxes, Directorate of Revenue Intelligence, Central Bureau of Investigation, National Investigation Agency, Cabinet Secretariat (R&AW), Directorate of Signal Intelligence (For service areas of Jammu and Kashmir, North-East and Assam only) and Commissioner of Police, Delhi.

Advocate ML Sharma had challenged that the MHA order on grounds of it being ‘illegal’ and ‘unconstitutional’. However, the Home Ministry, in an earlier statement had clarified that its order does not confer any new powers to any security or law enforcement agency, adding that any interception, monitoring or decryption of any information through any computer resource will be done as per the law.

 

CBI vs CBI: Appointment of Nageswar Rao as interim Director challenged in SC

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nageshwarThe appointment of M Nageswar Rao as the interim CBI Director was challenged in the Supreme Court on Monday.

The petition filed by NGO Common Cause has sought a direction to quash the January 10 order by the Centre appointing Rao as the interim/acting Director of the CBI.

The PIL filed through advocate Prashant Bhushan has sought a direction to the Centre to appoint a regular Director of CBI forthwith by following the procedure laid down in Section 4A of the Delhi Special Police Establishment Act, 1946, as amended by the Lokpal and Lokayuktas Act, 2013.

FinMin wants PSU banks to bring down govt equity to 52%

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finance ministryIn a bid to align with the best corporate practices, the Finance Ministry has asked the public sector banks to gradually bring down the government’s equity to 52 per cent, a top official said.

“The government is essentially a major shareholder. So, this need to be aligned to the best corporate practices. The shareholding needs to come down to at least 52 per cent in the first phase. As and when market condition allows, banks will take step in that direction. They have all the permission in hand,” Financial Services Secretary Rajiv Kumar told agencies.

Dilution of government stake will help banks to meet 25 per cent public float norms of market regulator SEBI. Some of the public sector banks have government’s holding beyond 75 per cent.

Besides, it will encourage the banks to follow the prudential lending norms.

The country’s largest lender State Bank of India (SBI) has already initiated step for Rs 20,000 crore share sale through qualified institutional placement (QIP). Post QIP, the government stake will be diluted from the existing 58.53 per cent.

Last month, shareholders of the bank approved sale of shares to fund the business growth.

Many other banks are planning to raise capital through some means or other, depending on the market condition.

Some of the lenders like Syndicate Bank, Union Bank of India, Punjab National Bank, and Oriental Bank of Commerce among others have already issued or in process of issuing Employee Share Purchase Scheme (ESPS).

He further said that the government has also initiated the process for consolidation of Regional Rural Banks (RRBs) to better serve the needs of the rural India.

Recently, the Centre has amalgamated three RRBs — Punjab Gramin Bank, Malwa Gramin Bank and Sutlej Gramin Bank — into a single RRB with effect from January 1.

Currently, the Centre holds 50 per cent in RRBs, while 35 per cent and 15 per cent are with the concerned sponsor banks and state governments, respectively.

 

Strong case to revisit ‘restrictive’ FDI retail policy: Report

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FDI Foreign direct 652x435

Domestic ratings agency Icra has said there is a “compelling case” to revisit the “restrictive” retail foreign direct investment (FDI) policy as India has not been able to get sizeable investments despite opportunities.

Citing examples of other emerging geographies to allay concerns, the agency said organised and unorganised retail can co-exist.

The multi-brand retail sector remains “most restrictive” to FDI, with a cap of 51 per cent ownership and guidelines relating to mandatory investments in back-end infrastructure and local sourcing norms, it said.

“There is a compelling case for the government to revisit its FDI policy. The investment requirements of the sector are sizeable,” its vice president and co-head for corporate sector ratings Kinjal Shah said.

According to data released by the Department of Industrial Policy and Promotion, India received $1.4 billion in FDI in the retail sector between 2000 and 2018, which is only 0.36 per cent of the overall FDI inflows, it said.

The agency said a population of over 1.3 billion with favourable demographics and a rising middle class present a big opportunity for foreign retailers, who have actually evinced interest.

ICRA said “restrictive nature of the retail FDI policy” has curtailed the foreign retailers’ operations.

Shah said there remains on-ground opposition for multi-brand retail from local traders, who fear risk of being thwarted by the deep pockets and increased competition from foreign players.

Pitching for relaxation in inter-segmental restrictions for multi-brand retail, Shah also said that India needs to up the caps on foreign ownership in the segment.

There is limited domestic capital being invested in the sector and FDI flows can bridge capital deficit and remove the supply chain inefficiencies, Shah said.

Citing global experience to drive home the point of co-existence between organised and unorganised retail players, the agency said China saw a spike in employment and number of traders since liberalising on foreign ownership in retail in 1992 and Indonesia is witnessing traditional retailers holding on to food selling.

It can be noted that relaxations in foreign ownership is an extremely sensitive subject politically in the country which faces opposition from large segments.

BEST strike enters its 7th day, Congress and AAP questions BJP-Sena

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best 1Over 32,000 employees of the Brihanmumbai Electric Supply and Transport Undertaking (BEST) are on strike since Tuesday last week where 3200 odd buses are off the roads. Striking workers are demanding the merging of BEST’s budget with the Brihanmumbai Municipal Corporation, the former’s parent body, as well as higher wages. Talks over the strike in last week between a state government committee led by the Maharashtra chief secretary and striking BEST unions have failed to break the impasse.

The Nationalist Congress Party and Aam Aadmi Party on Monday questioned the motives of the ruling BJP-Sena and asked why the strike had been allowed to linger on for a week now. The BEST bus strike has entered its seventh day in the metropolis where an official of the civic-run transport undertaking expressed the hope that a High Court hearing later in the day will give any solution to this unending issue.

NCP spokesperson Nawab Malik on Monday said that the BEST strike enters 7th day to promote wet leasing of buses to benefit Shiv Sena leaders. Similar ploy was played in MSRTC buses. Shiv Sena should clarify how many buses belong to their leaders. The BJP will also hand over electric supply to their friend Adani. Shiv Sena and BJP are holding Mumbaikars to ransom to benefit their leadership.

Aam Aadmi Party (AAP) leader Preeti Sharma Menon, while expressing her party’s support to BEST’s striking workers, alleged that the state government was “anti-labour. We support the demands of the strikers and are shocked that the government is unaffected by the longest BEST strike ever. This government is anti labour. It had also turned a deaf ear to the MSRTC’s (Maharashtra State Road Transport Corporation) strike last year.

Meanwhile, a senior BEST official said that we have pinned our hope on the Bombay High court which is due to hear this case on Monday afternoon. With HC intervention, we are hopeful an agreement will be reached today.

Earlier in the day, Maharashtra Chief Minister Devendra Fadnavis spoke over phone with Shiv Sena chief Uddhav Thackeray to find a solution to the bus stir. The telephonic conservation between Fadnavis and Thackeray took place after a meeting on Monday in Mantralaya between striking BEST union functionaries and the state chief secretary D K Jain failed to break the deadlock.

Thackeray has already said that his party will fulfill a promise to merge the budgets of the BMC and BEST. Meanwhile, the commuters continued to suffer with auto rickshaws, taxis as well as private and state transport buses unable to cope with the daily passenger load catered to by BEST.

Kandivali-resident Shrinivas Tambe (50) said, “I have to travel over two-and-half kilometres to reach office. It seems the authorities in power are supporting the strike or else it would not have gone on for such a long time. I suspect the government will shut down BEST once more metro routes are operational.

Commerce Ministry plans workshops in different states to implement agri-export policy

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The Commerce Ministry is planning a series of workshops in states including Maharashtra, Gujarat and Uttar Pradesh to implement its export policy for agricultural goods with a view to boost overall shipments, an official said.

The ministry has suggested states to set up a nodal agency dedicated for the implementation of the agriculture export policy.

Workshops would help identify bottlenecks, get feedback and suggestions to improve and overcome difficulties in the implementation of the policy.

“There is a plan to organise workshops in all the states for this policy with a view to boost exports of agricultural goods. States have been asked to prepare their separate agri-export policy also,” the official added.

The Ministry has asked Agricultural & Processed Food Products Export Development Authority (APEDA) to formulate a template for states, based on which states would prepare their policy.

Implementation of the elements of the policy would have some financial implications, some of which will be met from within the framework of existing schemes of various ministries.

The first national workshop on the policy was recently held in the national capital.

The approved policy also focuses on areas including research and development, cluster development, improvement in logistics and transportation.

Agri-products currently constitute over 10 per cent of the country’s total shipments.

During April-November this fiscal, exports rose 11.58 per cent to USD 217.52 billion.

Promoting exports helps a country create jobs, boost manufacturing and earn more foreign exchange.

Ranveer Singh raps his way into hearts with ‘Apna Time Aayega’

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apna time ayega

The trailer of Ranveer Singh and Alia Bhatt-starrer ‘Gully Boy’ had taken the internet by storm owing to its powerful dialogues and the raw acting prowess of the lead pair. And now the makers of the film have dropped the first song titled ‘Apna Time Aayega’ which is also the film’s tagline.

While the trailer only gave the audience a few glimpses of Ranveer’s brilliant rapping skills, the song showcases Ranveer rapping his heart out.

Alia took to her Twitter handle to unveil the song, writing, “#ApnaTimeAayega out now.”

Ranveer has lent his voice for the catchy track and has done a condemnable job showcasing his terrific rapping skills in the song. ‘Apna Time Aayega’ can be perfectly described as the new anthem for all those who dream of making it big in their lives.

The 2 minutes and 10-second song gives a glimpse into the world of ‘Gully Boy’. Just like Asli Hip Hop, the song has its own charm and traces the journey of the actor from slums to Hip Hop.

The lyrics talk about the realities of life and how one day time will change for an underdog. With its catchy tune, Ranveer’s voice and killer lyrics, the track will instantly make its way to your playlist!

The song is composed by Dub Sharma and DIVINE. The track’s lyrics are penned by DIVINE and Ankur Tewari.

‘Gully Boy’ is inspired by the lives of Mumbai street rappers Vivian Fernandes aka Divine and Naved Shaikh aka Naezy. The film is directed by Zoya Akhtar. This is Ranveer’s second collaboration with Zoya.

The first movie they had worked on together was ‘Dil Dhadkne Do’. The film is all set to hit the big screens on Valentine’s Day, February 14.

Apart from this, Ranveer and Alia will also be seen in Karan Johar’s upcoming directorial ‘Takht’. The period drama also stars Kareena Kapoor Khan, Janhvi Kapoor, Vicky Kaushal and Bhumi Pednekar.

Alia also has other films in her kitty including ‘Brahmastra’ opposite rumoured beau Ranbir Kapoor and the multi-starrer ‘Kalank’.

Emraan Hashmi’s son Ayaan declared cancer free

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emraan ayaan lakme fashion week

Actor Emraan Hashmi on Monday revealed his son Ayaan has been declared cancer free.

Ayaan was diagnosed with a rare case of kidney cancer in 2014 at the age of three.

“Today, 5 years after his diagnosis Ayaan has been declared cancer free. It has been quite a journey. Thank you for all your prayers and wishes.

“Love and prayers for all the cancer fighters out there, hope and belief goes a long way. You can WIN this battle!” Emraan posted on Twitter alongside three pictures of him and his son.

The actor had also co-written a book titled “The Kiss of Life: How A Superhero and My Son Defeated Cancer” along with Bilal Siddiqi.

The book chronicled his son’s struggle with the dreaded disease.

The 39-year-old actor will be next seen in “Why Cheat India”. The film releases Friday.

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