Hyderabad

Telangana: Two killed, one injured in road accident at Medak

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Two persons died in a road accident on NH-44 at Japthi Shivanuru village in Narsingi mandal

Published Date – 09:00 PM, Sun – 10 September 23


Telangana: Two killed, one injured in road accident at Medak

Representational Image.

Medak: Two persons died in a road accident on NH-44 at Japthi Shivanuru village in Narsingi mandal on Sunday.

The deceased were Konda Linga Reddy (50), a resident of Amberpet village in Siddipet, and Mutyala Venkatrami Reddy (56) of Venkatapur village. The two were going in a car driven by Pentaparthi Bapi Reddy, a resident of Narlapur in Nizampet, to attend a function in Ramayampet when the mishap occurred. Bapi Reddy sustained serious injuries in the incident.

A case was registered and the bodies were shifted to the Area Hospital Ramayampet for postmortem.

World

Israeli Supreme Court hears first challenge to Netanyahu’s contentious judicial overhaul

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Israel’s Supreme Court on Tuesday opened the first case to look at the legality of Prime Minister Benjamin Netanyahu’s contentious judicial overhaul

Published Date – 01:25 PM, Tue – 12 September 23


Israeli Supreme Court hears first challenge to Netanyahu’s contentious judicial overhaul



Jerusalem: Israel’s Supreme Court on Tuesday opened the first case to look at the legality of Prime Minister Benjamin Netanyahu’s contentious judicial overhaul — deepening a showdown with the far-right government that has bitterly divided the nation and put the country on the brink of a constitutional crisis.

In a sign of the case’s significance, all 15 of Israel’s Supreme Court justices are hearing appeals to the law together for the first time in Israel’s history. A regular panel is made up of three justices, though they sometimes sit on expanded panels. The proceedings were also being livestreamed.

The law, which parliament passed in July, cancels the court’s ability to strike down government decisions it deems to be “unreasonable.” It is the first piece of the wider plan by Netanyahu’s government to weaken the Supreme Court and give more power to the governing coalition.

Sports

Asia Cup: Pakistan announces playing XI for Super Four clash against India

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In their first encounter of the Asia Cup group stage, India posted a total of 266, but rain intervened and washed out the game completely.

Published Date – 08:50 PM, Sat – 9 September 23


Asia Cup: Pakistan announces playing XI for Super Four clash against India

Pakistan’s Haris Rauf (L) celebrates with teammate after taking the wicket of Bangladesh’s Taskin Ahmed (not pictured) during the Asia Cup 2023 one-day international (ODI) cricket match between Pakistan and Bangladesh at the Gaddafi Stadium in Lahore on September 6, 2023. (Photo by ASIF HASSAN / AFP)

Colombo: Pakistan have announced their playing XI for their exhilarating Asia Cup Super Four clash against their arch-rival India on Sunday.

The Men in Green are going with the same eleven that they put up against Bangladesh in their first game of the Asia Cup Super Four stage.

In that game, Pakistan’s pace trio of Shaheen Shah Afridi, Haris Rauf and Naseem Shah bagged all 10 wickets for the first time in the Asia Cup history.

Babar will once again back his deadly pace trio to achieve a similar feat against their biggest rival.

“I am proud of my pacers. We dominate everyone. Big matches and tournaments are won by fast bowlers. I have my belief in them. The secret behind their success is that they stay united and have belief in themselves. If one does not have a good day, the other one steps up and covers up for it,” said Babar in the pre-match press conference.

In their first encounter of the Asia Cup group stage, India posted a total of 266, but rain intervened and washed out the game completely.

With clouds once again looming over Colombo, Babar said that the team is focused on what it can control.”We are focusing on things we can control. It rained four days. The way the sun is out, does not look like it will rain. But we will focus on utilising whatever time we get to the best of our abilities,” he said.

Paksitan (Playing XI) against India: Fakhar Zaman, Imam-ul-Haq, Babar Azam (c), Mohammad Rizwan (wk), Agha Salman, Iftikhar Ahmed, Shadab Khan, Faheem Ashraf, Shaheen Afridi, Naseem Shah, Haris Rauf.

 

Business

FPIs sold stocks for Rs 20,620 crore in August-Telangana Today

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In August, FPIs sold stocks for Rs 20,620 crores in the cash market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Published Date – 02:10 PM, Sat – 2 September 23


FPIs sold stocks for Rs 20,620 crore in August



New Delhi: In the cash market, FPIs were sellers after three months of sustained buying. In August, FPIs sold stocks for Rs 20,620 crores in the cash market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

FPIs invested Rs 12,262 crore in August. This figure includes bulk deals and investment through the primary market. Rising bond yields in the US and strong dollar index are negative for capital flows. This is the primary reason why FPIs have been sellers in the cash market, he said.

FPIs have been sellers in most emerging markets in August mainly due to this double whammy of rising dollar and rising bond yields. Profit booking in financials also contributed to FPI selling, he added. Regarding sector specific investments, FPIs have been consistently buying in capital goods. Recently, they have been buyers in health care, too.

The latest jobs report from the U.S. indicates that the US economy is slowing and, therefore, the Fed might not raise rates again. This can bring down the US bond yields and the dollar index. If this scenario unfolds, FPIs may again turn buyers in India, he added.

Top News

Justin Trudeau's Return From India May Be Delayed Further. Here's Why

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Justin Trudeau's Return From India May Be Delayed Further. Here's Why

Justin Trudeau’s visit for the G20 summit was lower-key than his counterparts

New Delhi:

Canadian Prime Minister Justin Trudeau’s departure from India could further be delayed after the replacement aircraft – which was on its way to Delhi to fly him home – was diverted to London, his country’s media reported.

“The replacement plane, which initially was routing through Rome on its way to India, has since been diverted to London, England,” the CBS News said quoting Mr Trudeau’s office.

No reason was given for the unscheduled diversion, the news report said.

Justin Trudeau arrived in India on Friday to attend the G20 summit.

Mr Trudeau, his son Xavier and the Canadian delegation were forced to extend their stay in Delhi after their plane suffered a technical glitch. They were set to leave India on Sunday night. 

The backup plane is also carrying the spare parts needed to repair the plane they arrived on, officials said.

“The Canadian Armed Forces continue their best efforts to get the Canadian delegation home. Their latest update shows an earliest possible departure of Tuesday late afternoon. The situation remains fluid.” said a statement from Trudeau’s office yesterday,

“These issues are not fixable overnight, our delegation will be staying in India until alternate arrangements are made,” it said.

Mr Trudeau’s visit for the G20 summit was lower-key than some of his counterparts, and came against a backdrop of tensions between his government and India over Canada’s handling of Khalistan sympathizers.

Hyderabad

Hyderabad: Customer beaten to death at Hotel in Punjagutta over Biryani dispute

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A customer was allegedly beaten to death at a hotel in Punjagutta following an argument with the hotel workers over Biryani

Updated On – 10:34 PM, Mon – 11 September 23


Hyderabad: Customer beaten to death at Hotel in Punjagutta over Biryani dispute

Representational Image

Hyderabad: A customer was allegedly beaten to death at a hotel in Punjagutta following an argument with the hotel workers over Biryani. The victim Liyaqath (30), a resident of Chandrayangutta, had gone to Meridian Hotel, Punjagutta around Sunday midnight along with a couple of individuals and ordered Biryani.

While they were having the food, some argument took place between the hotel workers and Liyaqath, which caused other hotel staff to intervene. Eventually, a scuffle broke out between the two groups. Allegedly, the hotel staff closed the hotel shutters and attacked Liyaqath and his companion.

He was somehow rescued from the spot and shifted to a nearby hospital, where he was pronounced dead.

On receiving information, the police reached the hospital and shifted the body to Gandhi Hospital mortuary for postmortem examination.

A case has been registered.

Punjgutta SI and Head Constable suspended

Hyderabad Commissioner of Police, CV Anand on Monday placed under suspension Punjagutta sub inspector Shiva Shanker and head constable Ramesh for dereliction of duty. The duo was present in the police station when the victim Liyaqat had apparently complained of uneasiness.

World

Western countries ruining system of trade, financial ties

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“We see how the global economy has changed and continues to change in recent years, in part because some countries, primarily Western countries, of course, with their own hands are wrecking the system of financial, trade and economic relations, which they themselves worked to create and build in many respects,” he said at the forum’s plenary session.

He added it’s important that in this context there’s an expanding space in the world for genuine business cooperation between nations that do not submit to any external pressure but follow their own national interests. Putin said there is a growing number of such countries in different parts of the world.

“They give priority in their activities, their policies not to some short-lived issues of current politics, but the advancement of their own projects in the field of transportation, energy, industry, finance, in the humanitarian area – projects that bring direct long-term benefits to the peoples of these countries,” the Russian president said, TASS reported.

Putin noted that’s how “a new model of relations and integration is being born, but not according to Western models for the chosen ‘golden billion,’ but for the whole of humanity, for the entire functioning and developing multipolar world.”

He said he is convinced that this model helps the creative energy of openness and focus on concrete results to become a powerful competitive advantage of the Asia-Pacific region and a key factor that will define the global leadership of this region in terms of economic growth for a long time.

MNA/Pr

Sports

Praggnanandhaa finishes third, Grischuk takes Open Blitz title

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The Indian’s four-game unbeaten streak was brought to an end by Abdusattorov in the 13 round that also saw the upset of the day by Erigaisi.

Updated On – 09:23 PM, Sat – 9 September 23


Praggnanandhaa finishes third, Grischuk takes Open Blitz title



Kolkata: World Cup runner-up R Praggnanandhaa was the best Indian with an overall third place finish, while world champion Alexander Grischuk reigned supreme to clinch the Open Blitz title of the Tata Steel Chess India 2023, here on Saturday.

Unbeaten in four games, Praggnanandhaa was in the lead but he suffered defeats against Nodirbek Abdusattorov (13th round), Grischuk (15th) and Vidit Gujrathi (16th) that proved costly.

Erigaisi was the second best Indian with an overall fourth finish with 10 and a half points.

India’s No 1 D Gukesh suffered six defeats from nine rounds on the final day that included one against his closest rival Praggnanandhaa in the penultimate round, to end with a disappointing eighth place finish.

But he recovered well posting wins over Praggnanandhaa and German prodigy Vincent Keymer to finish on top with 12 points, with a quick draw over Pentala Harikrishna in the final and 18th round.

The two-time world blitz champion Grischuk suffered the only loss of the tournament when he was stunned by the rising Indian Arjun Erigaisi in the 13th round.

Former world Rapid champion Abdusattorov finished with three points with Praggnanandhaa, but the Uzbek secured a big win over Gujrathi to edge past the Indian sensation on tiebreaks.

Praggnanandhaa began the day on a positive note when he outwitted Rapid section’s runner-up Teimour Radjabov with a fine attacking game.

In the 11th round, he held Rapid champion Maxime Vachier-Lagrave, and continued his fun run with a win over Keymer in the next round.

The Indian’s four-game unbeaten streak was brought to an end by Abdusattorov in the 13 round that also saw the upset of the day by Erigaisi.

In round 15, Grischuk edged out Praggnanandhaa with the black pieces, while the Indian’s shock defeat came in the final round when he lost a crucial match against fellowmate Gujrathi to slip to third place.

The winners:

Women’s, Rapid: 1. Divya Deshmukh, 2. Ju Wenjun; Blitz: 1. Ju Wenjun, 2. Koneru Humpy Open, Rapid: 1. Maxime Vachier-Lagrave, 2. Teimour Radjabov; Blitz: 1. Alexander Grischuk, 2. Nodirbek Abdusattorov.

Business

Walmart acquires Flipkart shares for $3.5 billion from Binny Bansal, Tiger Global, and others-Telangana Today

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Furthermore, in the six-month period ending on July 31, the company secured $0.7 billion in fresh equity funding for its majority-owned subsidiary, PhonePe.

Updated On – 05:02 PM, Sat – 2 September 23


Walmart acquires Flipkart shares for $3.5 billion from Binny Bansal, Tiger Global, and others



New Delhi: Retail giant Walmart has paid around $3.5 billion to acquire shares in e-commerce major Flipkart from non-controlling stakeholders, including co-founder Binny Bansal and top investment firms Tiger Global and Accel, among others.

In a Securities and Exchange Commission (SEC) filing in the US, the company said that during the six months ended July 31, 2023, “the company paid $3.5 billion to acquire shares from certain Flipkart non-controlling interest holders and settle the liability to former non-controlling interest holders of PhonePe”.

Additionally, during the six months ended July 31, the company received $0.7 billion related to new rounds of equity funding for the company’s majority-owned PhonePe subsidiary.

Bansal reportedly received about $1-$1.5 billion from his shareholding in Flipkart.

Binny, along with Sachin Bansal, exited Flipkart after selling it to Walmart in 2018 for around $16 billion.

Last year, Binny Bansal sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent.

In July, retail giant Walmart paid $1.4 billion to acquire VC form Tiger Global’s remaining shares in Flipkart. According to a report in Wall Street Journal, Walmart paid the money to boost Flipkart’s stake.

Walmart purchased Tiger Global’s remaining holding in Flipkart to further cement its control of the Indian e-commerce giant.

Tiger Global made an overall gain of $3.5 billion on an investment of $1.2 billion.

Flipkart was earlier valued at $37.6 billion in a 2021 funding round. Walmart had 72 per cent share in Flipkart as last reported.

Top News

Gadkari seeks 10 per cent additional GST on diesel vehicles as pollution tax

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Nitin Gadkari on Tuesday said he will seek a “pollution tax” in the form of additional GST of 10 per cent on diesel vehicles

Published Date – 01:05 PM, Tue – 12 September 23


Gadkari seeks 10 per cent additional GST on diesel vehicles as pollution tax



New Delhi: Union Minister Nitin Gadkari on Tuesday said he will seek a “pollution tax” in the form of additional GST of 10 per cent on diesel vehicles and gensets in order to cut down on air pollution.

Speaking at the 63rd Annual SIAM convention here, the Union Road Transport and Highways Minister said the rising level of pollution is a health hazard for citizens.

“I am going to handover a letter to the Finance Minister this evening stating that an additional 10 per cent GST be put on diesel-powered vehicles,” Gadkari said.

Most of the commercial vehicles in the country currently run on diesel.

In the passenger vehicle segment, various carmakers including Maruti Suzuki India and Honda have already stopped manufacturing diesel cars.

Gadkari said the contribution of diesel cars has already come down drastically in the country and the manufacturers need to stop selling them in the market.

Terming diesel as a hazardous fuel, he noted that the country has to import the fuel to meet the demand.

“Say goodbye to diesel… Please stop making them, otherwise we will just increase the tax so much that it would become difficult to sell diesel cars” Gadkari said. He said he will propose additional GST on diesel-powered generators as well.

Automobiles are currently taxed at 28 per cent GST, with additional cess ranging from 1 per cent to 22 per cent depending on the type of vehicle.

SUVs attract the highest GST at the rate of 28 per cent along with a compensation cess at 22 per cent. Gadkari also asked the industry to focus on environment-friendly alternative fuels like ethanol.

He also asked the industry to focus on green hydrogen.