Monday, 4 March 2019
NBFC crisis slows GDP growth, real estate worst hit
With the liquidity squeeze in NBFCs and HFCs, the refinancing cycle for CRE players has stalled." Jaikishan Parmar of Angel Broking told IANS: "It would be appropriate to say that the financial sector squeeze has been responsible directly, and to an extent indirectly, for the slowdown." Parmar added that ever since the RBI came down heavily on banks for encouraging the 10:90 pattern schemes, NBFCs were funding such projects. Also, the last mile lending by NBFCs on behalf of banks was driving the demand for farm equipment, tractors, two-wheelers among others, he said. NBFCs were also quite active in financing four-wheelers, which got impacted by the crisis. In fact, HFCs have already seen their loan book disbursements contract by nearly 20 per cent in the last quarter. On the severity of the liquidity crisis which hit the realty sector, Anuj Puri of ANAROCK Property Consultants said "nearly $34 billion of mutual fund debt in NBFCs and HFCs was maturing between October 2018 - March 2019". This shows that the October-March period has been a very tough six months for the sector. Puri explained that prior to the crisis, the sector was already dealing with a cash crunch and subdued demand, due to which more than 75 per cent of the available credit facility was already exhausted. He said: "As per the S&P BSE Realty index, the debt-equity ratio of the top 10 listed players in the financial year 2013-2014 ranged anywhere between 0.10 to 0.85 which increased to anywhere between 0.17 to more than 1 in the current fiscal." This may not seem alarming, but the situation is worse in the case of small and mid-size developers whose debt-equity ratio is much higher, Puri added. Besides, of the approximately 10,000 developers in the country today, only 35-36 are listed. Hence, the financial numbers could be even worse, Puri said. For the NBFC sector to pick up, most experts said the issues of maturity mismatch and cost of funds need to be urgently addressed. Investors should be cautious on those NBFCs, according to Kurian, which have high leverage or those which have seen credit rating downgrades or are facing significant funding constraints. "We would be cautious on NBFCs with chunky corporate exposures or large exposure to commercial real estate and capital markets," he added. Dailyhunthttp://www.penninetroutfarmandfishery.co.uk/UserProfile/tabid/61/userId/1865675/Default.aspx
Idol-maker rues drop in sales
Because of the price hike, we are not getting enough orders. I am planning to do other similar work," Pal said. Pal's elder brother, Joykrishna, who jointly run the shop, agreed that because of high cost of production and low sale of idols, it is becoming difficult to sustain the trade.There is a sizeable population of idol-makers in Tinsukia district, who basically hail from Calcutta.Meanwhile, Maa Kamakhya Bhakt Mandal will celebrate Shiv Ratri with a procession from Sukleswar Mandir to Sadhana Mandir in Guwahati on Monday. Dailyhunthttp://www.chaipaai.com/author/yoz-kelvo-zkee-ne-e-nsgmail-com/
Tornadoes, severe storms hit US, killing scores of people
adar and video evidence showed what looked like a large tornado crossing the area near Beauregard shortly after 2 pm on Sunday, said meteorologist Meredith Wyatt with the Birmingham office of the National Weather Service."It appears it stayed on the ground for at least a mile and maybe longer," Jones told the AP.After nightfall on Sunday, the rain had stopped and pieces of metal debris and tree branches littered roadways in Beauregard. Two sheriff's vehicles blocked reporters and others from reaching the worst-hit area. Power appeared to be out in many places.President Donald Trump tweeted late on Sunday, "To the great people of Alabama and surrounding areas: Please be careful and safe. ... To the families and friends of the victims, and to the injured, God bless you all!" A tornado roared into southeast Alabama and killed at least 22 people and injured several others on Sunday, part of a severe storm system that caused catastrophic damage and unleashed other tornadoes around the Southeast."We are at 22 right now. Unfortunately, I feel like that number may rise yet again," Lee County Sheriff Jay Jones said of the death toll.Drones flying overheard equipped with heat-seeking devices had scanned the area for survivors but the dangerous conditions halted the search late on Sunday, Jones said. An intense ground search would resume on Monday morning.Jones said the twister traveled straight down a key local artery in Beauregard and that the path of damage and destruction appeared at least half-a-mile wide. He said single-family homes and mobile homes were destroyed, adding some homes were reduced to slabs. He had told reporters earlier that several people were taken to hospitals, some with "very serious injuries". Rita Smith, spokesperson for the Lee County Emergency Management Agency, said about 150 first responders had quickly jumped in to efforts to search the debris after the storm struck in Beauregard. At least one trained canine could be seen with search crews as numerous ambulances and emergency vehicles, lights flashing, converged on the area.No deaths had been reported on Sunday evening from storm-damaged Alabama counties outside Lee County, said Gregory Robinson, spokesperson for the Alabama Emergency Management Agency. But he said crews were still surveying damage in several counties in the southwestern part of the state.Numerous tornado warnings were posted across parts of Alabama, Georgia, Florida and South Carolina on Sunday afternoon as the powerful storm system raced across the region. Weather officials said they confirmed other tornadoes around the region by radar alone and would send teams out early Monday to assess those and other storms.In rural Talbotton, Georgia, about 130 km south of Atlanta, a handful of people were injured by either powerful straight-line winds or a tornado that destroyed several mobile homes and damaged other buildings, said Leigh Ann Erenheim, director of the Talbot County Emergency Management Agency.Televised broadcast news footage showed smashed buildings with rooftops blown away, cars overturned and debris everywhere. Trees all around had been snapped bare of branches. "The last check I had was between six and eight injuries," Erenheim said in a phone interview. "From what I understand it was minor injuries, though one fellow did say his leg might be broken."She said searches of damaged homes and structures had turned up no serious injuries or deaths there.Henry Wilson of the Peach County Emergency Management Agency near Macon in central Georgia said a barn had been destroyed and trees and power poles had been snapped, leaving many in the area without power.Authorities in southwest Georgia are searching door-to-door in darkened neighborhoods after a possible tornado touched down in the rural city of Cairo, about 53 km north of Tallahassee, Florida, on Sunday evening. There were no immediate reports of serious injuries.Authorities said a tornado was confirmed by radar in the Florida Panhandle late on Sunday afternoon. A portion of Interstate 10 on the Panhandle was blocked in one direction for a time in Walton County in the aftermath, said Don Harrigan, a meteorologist for the National Weather Service in Tallahassee."There's a squall line moving through the area," Harrigan told AP. "And when you have a mature line of storms moving into an area where low level winds are very strong, you tend to have tornadoes developing. It's a favorable environment for tornados."The threat of severe weather continued into the late-night hours. A tornado watch was in effect for much of eastern Georgia, including Athens, Augusta and Savannah. The tornado watch also covered a large area of South Carolina, including the cities of Charleston and Columbia. Dailyhunthttps://www.viki.com/users/y_ozkel_vozkee_neens_125/about
US closes Jerusalem consulate, demoting Palestinian mission
he announcement from the State Department came early Monday in Jerusalem, the merger effective that day."This decision was driven by our global efforts to increase the efficiency and effectiveness of our diplomatic engagements and operations," State Department spokesperson Robert Palladino said in a statement. "It does not signal a change of US policy on Jerusalem, the West Bank, or the Gaza Strip."When first announced by US Secretary Mike Pompeo in October, the move infuriated Palestinians, fueling their suspicions that the US was recognising Israeli control over east Jerusalem and the West Bank, territories that Palestinians seek for a future state.Palestinian official Saeb Erekat called the move "the final nail in the coffin" for the US role in peacemaking.The downgrade is just the latest in a string of divisive decisions by the Trump administration that have backed Israel and alienated the Palestinians, who say they have lost faith in the US administration's role as a neutral arbiter in peace process.Last year, the US recognised Jerusalem as Israel's capital and relocated its embassy there, upending US policy toward one of the most explosive issues of the Israeli-Palestinian conflict. The Palestinians in turn cut off most ties with the administration.The administration also has slashed hundreds of millions of dollars in humanitarian aid to the Palestinians, including assistance to hospitals and peace-building programs. It has cut funding to the UN agency that provides aid to Palestinians classified as refugees. Last fall, it shut down the Palestinian diplomatic mission in Washington.The Trump administration has cited the reluctance of Palestinian leaders to enter peace negotiations with Israel as the reason for such punitive measures, although the U.S. has yet to present its much-anticipated but still mysterious "Deal of the Century" to resolve the Israeli-Palestinian conflict.Trump's son-in-law, Jared Kushner, announced last month that the U.S. would unveil the deal after Israeli elections in April. The Palestinian Authority has preemptively rejected the plan, accusing the US of bias toward Israel. Dailyhunthttps://www.turnkeylinux.org/user/511139
Sensex gains 196 pts, posts 2nd weekly gains as geopolitical tensions ease
For the week, the BSE Sensex rose 192.33 points, or 0.57 per cent, while the broader NSE Nifty gained 71.35 points, or 0.69 per cent. This was the second straight weekly gains for the index. The NSE Nifty, after hitting a high of 10,877.90, closed at 10,863.50, up 71 points, or 0.66 per cent. Intra-day, it fell to a low of 10,823.10. Financial, capital goods, IT, power and oil and gas sector stocks hogged the limelight, helped indices to reclaim their key level. Brokers said investors indulged in creating new positions following the beginning of the March futures and options (F&O) series that led to the rally in the market. Markets will remain closed on Monday on account of "Mahashivratri". Meanwhile, on a net basis, FIIs bought shares worth Rs 3,210.6 crore, while domestic institutional investors (DIIs) sold shares worth Rs 5,240.62 crore on Thursday, provisional data showed. On the macro-economic front, however, traders looked somewhat hesitant after country's economic growth slowed down to a 5-quarter low of 6.6 per cent in October-December period, analysts said. Economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years. The rupee depreciating by 27 paise to 70.99 against the dollar (intra-day) at the forex market and the international benchmak Brent crude surging to USD 66.55 per barrel, capped gains to some extent. A firming trend in the rest of Asia, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, also accelerated buying activities. Dailyhunthttps://napavalleyregister.com/users/profile/tussadusmed/
HEC recruitment 2018: Apply for 169 posts at hecltd.com
Details for the counselling will be sent to the candidates' mobile number entered in the form. Once filled, candidates will not be allowed to change the email ID or mobile number, states the official release. The vacancies are for engineering and non-engineering background people. For engineering background, both graduates and diploma holders can apply. HEC recruitment post-wise vacancy list - Engineering jobs Civil engineering - 9 ( graduates 2 and technicians - 7) Computer science/IT - 18 (graduate 5, diploma 13) Electrical/electronics and communication - 32 (graduates 11, diploma 21) Industrial engineering - 5 (graduates - 2, diploma 3) Mechanical/ production - 82 ( graduates 36, diploma 46) Metallurgical/ foundry forge technology - 15 ( grades 09, diploma 6) Non-engineering jobs: Secretarial practice and accounts/office management and secretarial practice - 8 (graduates - 8, diploma - 0) HEC recruitment important dates: Online registration deadline: December 10 Payment detail submission deadline: December 12 Publication of merit list: December 19 Counselling for the first merit lost: December 29 Last date of admission: February 4 Session commencement: February 18 HEC recruitment eligibility criteria: Education qualification: For engineering posts, candidates should have a relevant degree or diploma from a recognised university in the respective branch. Age limit: Candidates should not be younger than 18 years nor older than 30 years. HEC recruitment: How to apply Step 1 - Visit the official website - hecltd.com Step 2 - Click on career tab on the homepage Step 3 - Click on jobs at HEC link Step 4 - Click on here to apply link in the first advertisement Step 5 - A new window will open. Click on 'apply online' link Step 6 - Fill the data with relevant information and submit Pay scale: Graduate candidates will be Rs 6,500 per month per and diploma holders will get monthly remuneration worth Rs 5000. For all latest Govt Jobs 2018, Railway Jobs, Bank Jobs and SSC Jobs log on to IndianExpress.com. We bring you fastest and relevant notifications on Bank, Railways and Govt Jobs. Stay Connected. Dailyhunthttps://issuu.com/kivonlewisse
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Truck stuck on track, train services hit in Odisha
The truck driver, identified as Bahadur Yadav, escaped unhurt. A railway guard, who was present at the spot, immediately informed the railway headquarters here about the incident. An official of Sambalpur Railway Division said railways staff rushed to the spot and removed the container truck from the track after two hours of struggle. Two passenger trains, Titilagarh-Howrah Ispat Express and Howrah- Jagdalpur Samaleswari Express, were delayed due to the accident. While the scheduled departure time of Samaleswari Express from Sambalpur railway station was 8.50 am, the train departed at around 10 am. Similarly, the departure time of Ispat Express from Hirakud railway station was 8 am but the train left the station at around 10 am. Officer in-Charge of Railway Protection Force (RPF) Post, Sambalpur Prabin Kumar said a case has been registered and the truck seized. The driver of the vehicle has been detained and further investigation is on, he added. Dailyhunthttps://www.openstreetmap.org/user/kunvindsee
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