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 Rajeev Jhawar shares his observation about the industry post covid. After the coronavirus, the industry witnessed a pandemic and subsequent lockdown disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand. Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019–20 and early 2020–21. Further, Rajeev Jhawar Usha Martin also makes his views on the various stimulus measure taken by the government to enhance the growth of the economy. Rajeev Jhawar Usha martin limited, said the various measures announced by the central government to stimulate the economy are likely to bear fruit after the monsoon. While the pandemic has not yet been eradicated, the growth is likely to occur as all the industries had learnt to live together with the pandemic. Further Rajeev Jhawar also states that with steady infrastructure spending by the government, speciality products used in construction ...

 Now that the Prime Minister has resigned, President Rajapaksa is expected to invite all the political parties in Parliament to form an all-party Cabinet.   New Delhi: As the nationwide protest continues to intensify, Sri Lankan Prime Minister Mahinda Rajapaksa on Monday resigned, a move that is likely to pave the way for a new cabinet in the crisis marred country. This comes days after President Gotbaya Rajapaksa in a special meeting on Friday requested the Prime Minister to step down as a solution to the ongoing political crisis in the country, Sri Lanka’s Daily Mirror reported. Now that the Prime Minister has resigned, President Rajapaksa is expected to invite all the political parties in Parliament to form an all-party Cabinet. Earlier, the opposition party Samagi Jana Balawegaya (SJB) confirmed that its leader Sajith Premadasa will not accept the PM’s post in an interim government. On Monday morning protesters held a demonstration opposite the Temple Trees, the official r...

  India’s Adani Group is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven-year campaign by climate activists and defying a global push away from fossil fuels.   Melbourne: India’s Adani Group is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven-year campaign by climate activists and defying a global push away from fossil fuels. The Carmichael mine in outback Queensland state is likely to be the last new thermal coal mine to be built in Australia, the world’s biggest coal exporter, but will be a vital source of supply for importers such as power plants in India. “The first shipment of high-quality coal from the Carmichael mine is being assembled at the North Queensland Export Terminal in Bowen ready for export as planned,” a spokeperson for Adani’s Australian subsidiary Bravus Mining & Resources said in a statement. The statement did not say where the shipment ...

 In what may be the biggest cyber fraud bust in India, Uttar Pradesh cybercrime police unearthed a Rs 3,000 crore online job scam wherein money was laundered to countries like China, the Philippines and Vietnam via cryptocurrency. Fraudsters sent lakhs of bulk SMS/WhatsApp messages across India after the first COVID lockdown, and several people fell prey to this fraud. The one-of-its-kind investigation includes examining several cryptocurrency accounts, exchanges, and shell companies operating in foreign countries. Law enforcement agencies were tracking a mere Rs 2 lakh job scam in Bareilly. They found a mail trail in the process, which revealed that Rs 3,000 crores from this racket had already been siphoned off to countries like China and the Philippines using cryptocurrency wallets like Binance, Smart Cont, OK Coin, etc. The big question now is how to get the money back? It began in Bengal Uttar Pradesh’s cybercrime department arrested a man from West Bengal connected with the cy...

 Pekka Haavisto once spearheaded efforts to engage with Russia and broaden cooperation. Now he’s helping lead Finland toward NATO membership.  Pekka Haavisto, the Finnish foreign minister, is an understandably busy man these days. The biggest news in the Nordic region of late is Finland’s apparently imminent decision to join NATO following the Russian invasion of Ukraine in late February. In January, a month before the invasion, a poll by Finland’s leading newspaper,   Helsingin Sanomat , showed that 28 percent of the Finnish public supported applying for full membership in NATO, with 42 percent opposed—figures that have been more or less consistent for years, including following Russia’s invasion and annexation of Crimea. By March 4, a week after the invasion, support for pursuing NATO membership had jumped 20 points to 48 percent, while opposition had dropped to 20 percent. Pro-NATO sentiment has continued to rise as the war has dragged on, to the point that nearly two-...

 Children and husband of Tintu Paul, a nurse from Kerala, are recovering from injuries   An Indian nurse and mother of two young children died on   Eid Al Fitr   when the car she was travelling in skidded off the Jebel Jais road as the family returned from an overnight stay in the mountains. Tintu Paul, 36, from   Kerala   in southern India worked as a nurse in a hospital in Ras Al Khaimah. She had spent the night on Sunday, May ,1 with her family and friends in   Jebel Jais , watching the sunrise over the mountain range before heading back home to   Ras Al Khaimah . The accident happened on Monday morning when the car was nearing the foot of the mountain. Rescue teams said the car had overturned twice and Paul was unconscious when they reached the site. “The family is shocked and at a loss,” Basil Paul, her cousin who lives in the   UAE , told   The National . “She had a severe head injury and doctors did their level best to remove the ...

 Three security guards were killed Monday when gunmen opened fire at a polling station in a restive region of the southern Philippines, police said, as millions of Filipinos voted in national elections. Elections are a traditionally volatile time in a country with lax gun laws and a violent political culture, but police said this season had been comparatively peaceful. The deadly shooting happened shortly after voting got under way in Buluan municipality on Mindanao island, a haven for multiple armed groups ranging from communist insurgents to militants. Former mayor Ibrahim Mangudadatu told AFP that people inside the school being used as a polling station ran for cover when the shooting started. A fourth guard was wounded in the attack, said Maguindanao provincial police spokesman Major Roldan Kuntong. It came after five grenades exploded outside a polling station in Datu Unsay municipality late Sunday that left nine people wounded. Minutes after that attack, a grenade exploded in...

 IndiGo refused to board the child with disability at the Ranchi airport, according to a now viral post, which has sparked public anger. Union Minister Jyotiraditya Scindia has said he was “investigating the matter” himself amid anger over IndiGo denying boarding to a child with disability. “There is zero tolerance towards such behaviour. No human being should have to go through this! Investigating the matter by myself, post which appropriate action will be taken (sic),” the aviation minister tweeted on Monday morning, sharing a post by a journalist that gave the details of the incident. The incident happened on Saturday, according to a post that was widely shared on social media by Manisha Gupta, the founder and director of a consultancy called Start Up India. “Yesterday, at the Ranchi airport, an adolescent with special needs, was in great distress. He had had a very uncomfortable car ride to the airport. By the time he had gone through security check and reached the gate (almost...

 The leak investigation of the draft Supreme Court opinion overturning Roe v. Wade raises important issues for journalists as well as potential sources.   FOLLOWING THE PUBLICATION by Politico of Supreme Court Justice Samuel Alito’s  draft majority opinion  to overturn Roe v. Wade, Chief Justice Roberts  authenticated  the leaked document and  stated  that he had “directed the Marshal of the Court to launch an investigation into the source of the leak.” Whether or not the leak itself was  illegal , however, the question of how a technical investigation of this document would proceed raises some interesting issues for journalists as well as potential sources. Leak investigators have three key areas to analyze for clues: the document itself, the environment the document circulated in, and the potential identity of the leaker. Each area in turn presents lessons and opportunities for would-be leakers to adopt various counter-forensic...

 Sharp cut in debt in Q4; Ebitda for FY23/24e raised by22/8%;target price up to Rs 1,660; valuations are attractive; ‘Buy’ retained   Tata Steel ’s Q4FY22 earnings were in line with our estimates while sharp deleveraging and buoyant margin guid- ance were encouraging. Management shared that price hikes, both in India and Europe, should offset the cost inflation in Q1FY23e. Working capital release led to sharp deleveraging in Q4FY22 and helped end FY2022 at 0.9X net debt/Ebitda.TATA has multiple high IRR brownfield growth opportunities and with leverage well under control, we expect a step-up in growth capex from FY2024e.We upgrade earnings and FV to `1,660. Maintain ‘Buy’. Q4FY22: In-line earnings TATA’s Q4FY22 consolidated Ebitda at Rs 157 bn was 4% below our estimate, mainly led by FX translation losses whereas operating performance was in line with our estimates. India margins softened sequentially on higher costs while Europe margins improved sequentially on higher pre-con...