Category: News & Politics

International News & Politics

WHO Says This On World No Tobacco Day 2022

HT News

World No Tobacco Day 2022 would be used to highlight the environmental impact of the tobacco cycle decided by the UN. Also, the world agency has statistics showing the impact of tobacco on the environment.

HIGHLIGHTS

• The UN would highlight the environmental impact of tobacco on World No Tobacco Day 2022
• The world agency has shared a fact sheet to aware people about the harmful impact of tobacco on the environment
• Austria’s Cancer Council also shares interesting statistics about challenges faced by smokers in quitting

What UN Has To Say On World No Tobacco Day 2022?

Tobacco Day 2022

The consumption of tobacco leaves a devastating impact on the environment, WHO said while releasing a fact-sheet highlighting the environmental impact of tobacco consumption. The data provided in the fact sheet relates large-scale deforestation and loss of biodiversity including wildlife to tobacco consumption.

WHO further makes tobacco consumption responsible for the depletion of water, exhaustion of fossil fuel and metal resources, and desertification by loss of soil fertility.

WHO’s Fact-Sheet:

• Every year 8 million people die from tobacco use
• 600,000,000 trees are chopped
• 84,000,000 ton of carbon dioxide is released
• 22,000,000,000 tonnes of water is used up

Also, tobacco consumption adds to the emission of greenhouse gasses, contaminates drinking water, and emits toxic gasses in the air via direct, second, and third-hand smoke. WHO highlights the threat to the environment and terrestrial and aquatic ecosystem by non-biodegradable cigarette butts.

What Does Australia’s Cancer Council Say On World No Tobacco Day 2022?

The council highlights the challenges faced by people who want to quit smoking. It said that in 2019 around two-thirds of … Read the rest

News & Politics

Check Your LIC IPO Allotment Status In The Following Ways

HT News

Life Insurance Corporation (LIC) is likely to announce the allotment status of its IPO today. Opened for subscription From May 4 to 9, LIC IPO is the largest initial public offering in the history of the Indian stock market.

HIGHLIGHTS

• Subscribers can check the status of their LIC IPO allotment today
• The LIC IPO was subscribed 2.95 times despite weaker market conditions
• The IPO will be listed on stock exchanges on May 17

About LIC IPO

About LIC IPO

The state-owned Life Insurance Corporation offered 16 crore shares through an IPO and received bids for 47 crore shares in the six days of the IPO bidding process. The IPO was subscribed 2.95 times but some experts are of the opinion that LIC IPO failed to perform despite its huge size because of a weak market environment.

But retail investors show much interest in the offering. The portion reserved for them was oversubscribed by 1.99 times on the last day of the bidding process.

Price of LIC IPO Shares

LIC IPO

LIC offered its shares at a price band of Rs.902-Rs.949 per share but experts rate it low as compared to others. Also, the stock could get listed at a discount to the application price as the grey market premium of shares shows a discount of Rs.10 from the highest price.

LIC would is the fifth-largest company in terms of the market capitalization post listing. It four companies listed before LIC are RIL, TCS, HDFC Bank, and Infosys.

Check LIC IPO Allotment Status:

Check LIC IPO Allotment Status:

• Visit BSE or NSE website (https://www.bseindia.com/investors/appli_check.aspx)
• Select ‘Equity’ and then ‘LIC’ from the dropdown menu
• Enter application number with PAN
• Click … Read the rest

Business News & Politics

Is Death Under Mysterious Circumstances Just Another Tweet By Elon Musk?

HT News

Tesla CEO Elon Musk in his latest tweet said about dying under “mysterious circumstances”. And it is the first time that he has indicated a risk to his life and his followers are connecting his fear to the Ukraine war.

HIGHLIGHTS

• Elon Musk tweets about death under “mysterious circumstances”
• His company SpaceX Starlink is providing military communication equipment to Ukraine
• Speculations are that he faces threat from Russia for helping Ukraine
• The post elicited mixed responses from Twitter users

What Is Disturbing In His Tweet?

Musk said that he would be held responsible for supplying the fascist forces in Ukraine with military communication equipment. He further said that he will be held accountable like no adult – no matter how much he would play the foo.

What Is The Truth Behind Russian Threat?

The communication equipment Musk talked about in his tweet was delivered by the Pentagon, the headquarters of the US Department of Defense. But Musk activated his SpaceX’s Starlink satellite broadband service in Ukraine after a minister of the war-torn country reached out to Musk.

How Are People Responding To Musk’s Tweet?

Most people are connecting his tweet to the recently concluded deal of Twitter. Elon Musk has bought the micro-blogging site Twitter for $44 billion and people are saying that he is bothered by the … Read the rest

News & Politics

Sri Lanka Declares A State Of Emergency For the Second Time In Five Weeks

HT News

Sri Lanka President Gotabaya Rajapaksa declared a state of emergency in the country citing public security and the protection of public order and the maintenance of essential supplies and services. It is the second in five weeks that the island nation has gone into emergency.

HIGHLIGHTS

• Sri Lanka declares a state of emergency for the second time in five weeks
• President Gotabaya Rajapaksa asked Prime Minister Mahinda Rajapaksa to step down
• The island nation is facing an acute shortage of foreign exchange due to clamping down on tourism during the COVID-19 pandemic

What Forced President Gotabaya Rajapaksa To Declare Emergency In Sri Lanka?

President Gotabaya Rajapaksa To Declare Emergency In Sri Lanka

The emergency came into effect from midnight on 6 May. A massive protest broke out in the country forcing President Rajapaksa to take this strict decision. Over 2,000 trade unions including the All Ceylon Transport Workers Union, Sri Lanka Railway Station Masters’ Union (SLRSMU), and the University students came out on the streets demanding the resignation of President Rajapaksa and the entire government. The first time Sri Lanka declared an emergency was on 1 April 2022.

What Is The Real Problem Of Sri Lanka?

The island nation is struggling with an acute shortage of food, electricity, and basic amenities. And the country has become dependent on its neighbors for survival. Sri Lanka has run out of foreign funds needed to buy fuel and gas. And the people are blaming the government for its inability to contain the crisis. The government has no plan to come out of the situation that started with closing borders for foreign tourists during the lockdown period.

What Is The Solution Of The Problem?

President … Read the rest

News & Politics

Arundhati Roy Said India Of Today Was Headed For A Crash

HT News

Booker Prize winner Arundhati Roy said “India of Today” was an airplane moving in a reverse direction and “headed for a crash”. She was speaking at a book launch event at Jawahar Bhavan.

What Did Arundhati Roy Say About “India of Today”?

Arundhati Roy Say About “India of Today

The author compared today’s India to that of the 1960s when leaders were spearheading truly revolutionary movements for redistribution of wealth and land. But today, she said, leaders were distributing “5 kg rice and 1 kg salt” to seek votes to win elections.

Ms. Roy said that she asked a pilot friend whether he could fly an airplane in the reverse direction. Her friend laughed out loud. She said that was what was happening in India. She further said that India was a land of sophisticated jurisprudence where laws were applied according to caste, class, gender, and ethnicity.

Which Book Was Launched?

The book was a selection of poems and letters by jailed human rights activist GN Saibaba. Published by Speaking Tiger, the book, Why do you fear my way so much? is available for sale in online and retail stores.

What Did Arundhati Roy Say About The Event?

Arundhati Roy Say About The Event

First, she asked what the community was doing there on that day. And then she answered by saying that they were meeting to talk about a professor who was 90% paralyzed and had been jailed for seven years. That was enough to tell what kind of country the people were living in, maintained the bestselling author. What shame was that, concluded Arundhati Roy.

Who Is GN Saibaba?

GN Saibaba

GN Saibaba was an assistant professor at Ram Lal Anand College of Delhi University. He was sentenced … Read the rest

Business News & Politics

LIC IPO Opens Under The Shadow Of Russian Invasion Of Ukraine

HT News

The much awaited initial public offering (IPO) of Life Insurance Corporation of India (LIC) will open for subscription from 4-9 May. The over Rs. 21,000 crore IPO is offered with a price band of Rs. 902-909 per share.

HIGHLIGHTS

• LIC IPO opens tomorrow and will available till Monday
• The government is giving discount of Rs. 60 to its policy holders and Rs. 45 for retail investors and its employees
• Initial size of the IPO was cut to Rs. 21,000 crore due to international war conditions
• The central government is selling 3.5% stake in LIC through the IPO

About IPO

Lic IPO

It is entirely an offer-for-sale (OFS) offered with a discount of Rs. 60 per share for LIC policyholders and Rs. 45 per share for retail investors and institutional buyers. Also, half of the issue has been reserved for qualified institutional buyers (QIBs), 35% is reserved for retail investors, and 15% for non-institutional investors.

The shares will be offered in a lot of 15 equity shares and multiples thereafter. A single lot would cost approximately Rs. 14,235 (excluding discounts) and the shares will be listed in both NSE and BSE.

The cut off time for UPI mandate conformation is fixed at Tuesday 10 May up to 12:00 pm. Applications received after the cut off time won’t be considered.

KFin Technologies has been made registrar of the issue and Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, Nomura Financial Advisory and Securities India, Goldman Sachs India Securities, ICICI Securities, JM Financial, JP Morgan India and SBI Capital Markets are the lead managers.

International Conditions Affecting The IPO

The initial … Read the rest

News & Politics

SpiceJet Passengers Had A Close Encounter With Mid-Air Turbulence On May 1

HT News

A SpiceJet flight operating from Mumbai to Durgapur in West Bengal encountered severe turbulence while landing at Kazi Nazrul Islam Airport in West Bengal’s Durgapur on Sunday. The turbulence started due to a storm that locals call Kalbaishakhi. It left 14 passengers and three cabin crew members injured.

HIGHLIGHTS

SpiceJet flight landed safely after encountering severe turbulence Passengers were injured due to luggage falling over them and colliding with the aircraft roof and windows Video of the incident shows the aircraft floor littered with belongings of the passengers. The injured were rushed to the hospital for treatment

How The Turbulence Started?

Turbulence Started

Everything was right with SpiceJet Boeing B737 aircraft operating flight SG-945 from Mumbai to Durgapur until it reached the Kazi Nazrul Islam Airport in West Bengal. Suddenly a powerful storm engulfed the aircraft and it started hobbling. Passengers had their belts tied but those were broken by the turbulence.

The luggage kept overhead started falling over the passengers and hit many of them on their heads. The cabin crew tried their best to keep the aircraft stable and land safely but they couldn’t. The best thing they could do is to land with minimum injuries to the passengers and the aircraft.

What Did The Visuals Of The Incident Show?

SpiceJet turbulence

The first visuals emerged after the aircraft hobbled for the first time. The turbulence was so severe that it let the overhead luggage drop down. In a visual, an air hostess was seen calming down the passengers.

A passenger described the incident as their masks came off during the mid-air turbulence and falling cabin baggage injured many of them, some on their heads.

Another passenger … Read the rest

News & Politics Technology

Elon Musk Buys Twitter At $44bn But The World Isn’t Happy

HT News

Elon Musk finally sealed the Twitter deal at $44bn to get control of the social network with more than 200 million users and growing. Tesla chief who has a frequent critic of Twitter in the past said that the platform had not lived up to its potential as a platform for “free speech”.

How The Twitter Deal Finalized?

On 4 April, Elon Musk emerged as the single largest shareholder of the social media group. On 14 April, he offered to buy all Twitter shares for $54.20 each in a takeover bid. But the Twitter board opposed the attempt by making it expensive for Elon Musk. But the initial transaction faded after shareholders warmed to Musk’s offer of putting $21bn of his own money and taking rest of the amount as loan from financial institutions including Morgan Stanley. Twitter confirmed the sale and said that it would be closed in 2022.

History Of Twitter

Launched in 2006, Twitter boasts of 217 million daily active users and a market cap of nearly $40bn. But its co-founder Jack Dorsey stepped down as CEO in November 2021. He made the chief technology officer Parag Agrawal as an acting executive. Elon Musk started tweeting about his interest in buying the company as early as 2017. With 83m followers, he is a prominent user of the app.

How Elon Musk Want To Reshape Twitter?

Elon Musk Buys Twitter At $44bn

Soon after finalizing the deal, Elon Musk announced his objective of buying Twitter. He said that he wanted to improve its functions by adding new features to it. He would make the algorithms open source to build trust, beat the spam bots, and authenticate all humans.

What … Read the rest

International News & Politics

Why Did Twitter Want Tesla CEO Elon Musk On Its Board?

HT News

Elon Musk isn’t joining the Twitter Board. The Tesla CEO was slated to join the micro-blogging site on 9 April Saturday but he informed Twitter the same morning that he won’t join, said Twitter CEO Parag Agrawal.

Highlights

• Tesla CEO Elon Musk had many discussions with Twitter over joining its board
• Elon Musk informed the company about his decision not to join the Twitter board on the day of joining
• The micro-blogging site was excited about his entry after his recent tweets
• Elon Musk toyed with radical ideas like converting Twitter headquarters into a shelter home

Why Was Twitter Bringing Elon Musk To Its Board?

Twitter Want Tesla CEO Elon Musk On Its Board

According to the company it considered Elon Musk as a fiduciary of the company and expected him to add value to it with his ideas of radical change. Twitter CEO Parag Agrawal formally informed its shareholders about Elon Musk joining the board on April 5 but the Tesla CEO decided not to join the board and remain a shareholder. It is to be noted that Elon Musk is the biggest shareholder in Twitter.

After the Elon Musk incident, Twitter CEO Parag Agrawal said that there would be distractions ahead but their goals and priorities remained unchanged. Parag Agrawal further maintained that the decisions they make and how they execute them were in their hands, no one else’s. He called his team to tune out the noise and stay focused on the work.

What Were The Ideas Of Radical Changes Promoted By Elon Musk?

Elon Musk started a poll for turning the San Francisco headquarters of Twitter into a shelter for the homeless. He also suggested a … Read the rest

International News & Politics

Police And Army Clash At Protest In Sri Lanka

HT News

As anti-government demonstrations intensified in the country, Sri Lankan Army Chief called for an inquiry as police stopped soldiers of special forces at protests in Colombo.

10 Developments In Sri Lanka

Police And Army Clash At Protest In Sri Lanka
  1. Army Chief Shavendra Silva called for an inquiry after police stopped a group of masked soldiers with assault rifles at protests near parliament, where children, women, and the elderly were protesting.
  2. President Gotabaya Rajapaksa revoked the state of emergency he declared on 1 April with immediate effect amid protests against the nation’s worst economic crisis.
  3. 41 lawmakers walked out of the ruling alliance bringing the government to a minority and former allies demanding Rajapaksa’s resignation.
  4. Opposition parties have rebuffed Preside Rajapaksa’s call to join the government. But there are no signs of the opposition toppling the minority government.
  5. Finance Minister Ali Sabry stepped down ahead of a crucial meeting with International Monetary Fund for a loan program.
  6. The UN Human Right Council is closely watching the developments in Sri Lanka which is already under international censure for its deteriorating human rights record.
  7. Sri Lanka temporarily shut its embassies in Norway and Iraq and the Consulate General in Sydney.
  8. The International Monetary Fund is closely monitoring the political and economic developments of Sri Lanka as the public unrest in the island country grows against the worst economic crisis.
  9. Mass agitations are at a fever pitch in Sri Lanka after the foreign exchange crisis and balance of payment issues culminated into an unprecedented economic crisis. People attempted to storm the homes of government officials to protest against the failed policies of the ruling Rajapaksa family.
  10. Sri Lanka is facing its worst economic crisis since its independence from the British empire in 1948. The country is facing
… Read the rest