first_imgAPTN National NewsThe 2012 Arctic Winter Games are not only a chance for athletes to show off their skills, but it also gives different cultures the opportunity to share their traditions.APTN National News reporter Cullen Crozier has this story.last_img

first_imgAPTN National NewsThe Treaty 1 to 11 gathering is a growing movement made up of grassroots people and First Nations leaders from communities within the Treaty 1 to 11 areas.They held a meeting near Brandon, Man., this week.APTN National News host Michael Hutchinson was there and brings this report.last_img

first_img(Elder Raymond Robinson. APTN/File Photo)APTN National News OTTAWA–Aboriginal Affairs Minister Bernard Valcourt is scheduled to meet with hunger-striking Manitoba Elder Raymond Robinson on Friday in Ottawa.Robinson, from Cross Lake First Nation, began his hunger strike Wednesday and also said he wouldn’t drink any water during the hunger strike which he plans to hold until Prime Minister Stephen Harper agrees to meet with First Nations leaders on a “nation-to-nation” basis and the department of Aboriginal Affairs scraps controversial changes to its funding agreements with First Nations.Valcourt’s office reached out to Robinson for the meeting and the date was finalized Wednesday evening.Earlier in the day, the Prime Minister’s Office indicated Valcourt was ready to meet with Robinson.“The Minister of Aboriginal Affairs is prepared to meet with Raymond Robinson, or any First Nation community member who wants to make progress for First Nations,” said a PMO spokesperson in an email to APTN National News.Robinson said he was open to a meeting with Valcourt.“I’m more than willing to sit down with him,” said Robinson, during a short cell phone interview with APTN National News shortly before a planned speaking appearance at Concordia University in Montreal.The PMO said Valcourt also met with Cross Lake Chief Garrison Settee last Wednesday and Manitoba Keewatinowi Okimakanak Grand Chief David Harper to talk about education and housing issues.Robinson’s decision to go without water during the hunger strike has put him on a perilous course that would see him face serious health issues within days.“Like all reasonable people, we encourage Raymond Robinson to continue to consume food and water,” said the PMO statement.Robinson accompanied Attawapiskat Chief Theresa Spence during her protest fast which ran from December until January and was held on Victoria Island in the Ottawa River. Robinson’s nephew was murdered in Cross Lake during that time.Spence told APTN National News that she “understood” Robinson’s protest, but was “concerned.”Robinson is expected to soon go into seclusion for the majority of the hunger strike.A human body can only go a few days without water before the kidneys start to fail.last_img read more

first_imgAPTN National NewsChiefs from Alberta, Saskatchewan and Manitoba continued their meetings Wednesday.They’re in Onion Lake trying to figure out a way to get Canada to honour treaties.APTN’s Jorge Barrera reports while chiefs are driving discussions, grassroots people are there hoping for change.last_img

first_imgAPTN National NewsStudents on the Potlotek First Nation are giving the expression, burning the midnight oil, a whole new meaning. The high school students are laying an academic foundation into the evening hours. But what they really need is a school.APTN’s Trina Roache brings us this story.last_img

first_imgTORONTO – A global payment company will give members of Canada’s largest small- and medium-business association lower rates on American Express transactions.Chase Merchant Services will charge a new lower rate to Canadian Federation of Independent Business members that process less than $500,000 in Amex transactions.CFIB says the deal aims to make it easier for small businesses to accept Chase payment cards.CFIB president Dan Kelly says the partnership means many of the federation’s members could see significant savings thanks to the offer, with some members potentially seeing fees reduced by almost 50 per cent.Retailers pay fees each time consumers use a credit card. The fees differ based on type of credit card, business and other considerations.The retail industry has been advocating for lower fees, arguing that Canadian businesses pay some of the highest fees worldwide.CFIB’s 110,000 members collectively process more than $12 billion in electronic payments through Chase every year.last_img read more

first_imgOTTAWA – When G7 finance and international development ministers convene in British Columbia next week, Canada hopes the meetings will generate fresh ideas on how aid money can be leveraged to entice the private sector to boost investments in poorer parts of the world.The challenging search for solutions will take place in Whistler, where finance and international development ministers will gather together for the first time at formal G7 meetings.Many countries, including G7 members like the United States and the United Kingdom, have been working for some time to lure more private capital into developing nations as a way to help make up for inadequate levels of foreign aid.Canada has been a late bloomer in this area. Earlier this year, it became the last G7 country to create a development finance institution to operate alongside its government-run foreign aid program.Marie-Claude Bibeau, the federal international development minister, says the hunt for new ways to get more private investment cash into developing countries will be a key part of the talks in Whistler.As this year’s G7 host, Bibeau says Canada will also put female empowerment at the centre of the development discussions — with new approaches that will take into consideration the full life cycle of girls, adolescents and women.Whatever Canada announces on development, she added, will be in line with the Trudeau government’s feminist policy.But Bibeau stressed that without innovative ideas, the international community will fall well short of its overall targets on eradicating poverty.Investments from donor countries around the world will have to be between $5 and $7 trillion in order to achieve the planet’s sustainable development goals by 2030, she said.Total funding last year was around $147 billion, she added.“We have to go from billions to trillions, so we know that if we only count on those donor countries, such as Canada and the G7 countries, we will never end poverty,” Bibeau told The Canadian Press in an interview.“So, we really have to think differently and bring new partners on board.”Bibeau said many options will be on the table in Whistler. She declined to get into specifics, but added that solutions could involve new ways of removing financial hazards for the private sector in riskier parts of the world.Canada sees the G7 as an important setting to come up with new ideas because of the large role it plays in development.Bibeau’s office says the G7, including the EU, provides 76 per cent of the world’s “official development assistance,” which is defined as government aid intended to improve economic and social development in poor countries. The G7 also provides 81 per cent of the planet’s humanitarian assistance, a spokeswoman for Bibeau said.The G7 discussions will also focus on trying to get the private sector interested in investing in women’s businesses in developing countries — and Bibeau said there will be an emphasis on adolescent girls.Adolescent girls in poorer countries often face big obstacles related to gender-based violence, early pregnancies and other challenges that result in them leaving school early age, she said.For Bibeau, giving adolescent girls in these countries the chance to improve their education, health and nutrition will be a big part of the effort.“We believe that this is the best way to end poverty — but if we want to have empowered women, we have to give girls the opportunity to develop their full potential,” said Bibeau, who has invited girls from developing countries and Canadian indigenous communities to address the ministers directly.However, some argue it won’t be easy to convince companies to put more of their money into developing countries.Liam Swiss, a development expert at Memorial University in St. John’s, N.L., said it’s important and admirable for governments to encourage private sector investors to get involved.But companies’ main goals will remain focused on where they can make money, he said.“They’re profit driven, so you can have good corporate social responsibility, but at the end of the day, the things that matter most is what their shareholders can yield in profits,” said Swiss, who is unsure what new tools could be proposed to attract private investors.“In terms of new and innovative ways to bring that about, I’m a bit at a loss in terms of what the G7 could offer to firms to encourage their partnership and their investments in these ways that hasn’t been tried before.”Critics of this approach, Swiss added, warn about potential abuses by private-sector firms in communities and of individuals — and the possibility the poorest people won’t see economic benefits.Others are more optimistic about what the G7 meetings might come up with.Megan O’Donnell of the One Campaign, an anti-poverty group co-founded by U2 singer Bono, said efforts by come countries have been “extraordinarily successful” so far in attracting private investment dollars to developing countries.The key question, she said, is whether we know that there have been positive impacts for the poorest people.“There has been some interesting work to suggest that that is the case, but I think a lot more can certainly be done to continue to build that evidence,” said O’Donnell, the One Campaign’s policy manager on gender issues.Looking ahead, she believes giving more economic empowerment to women — as entrepreneurs, for example — will be a win-win because they can also help investors’ bottom lines, once the financial risks have been eliminated.“It might not be intuitive for them at the start to recognize, ‘Hey, this is really a profit-seeking opportunity for us,’” she said of companies.“But with removing some of those risks, then all of a sudden the private sector is increasingly incentivized.”last_img read more

first_imgWASHINGTON – President Donald Trump is grossly overstating the extent of U.S. economic and job gains.In a tweet Monday, he declares that the economy has “never been better” and jobs are at the “best point in history.”In fact, the economy and jobs are nowhere close to historic bests based on several measures. Economists have also warned that U.S. growth is largely fueled by government borrowing, as the federal deficit rises because of his tax cuts, and is thus unlikely to be sustainable after a few quarters.A look at the claims:TRUMP: “Great financial numbers being announced on an almost daily basis. Economy has never been better, jobs at best point in history.”THE FACTS: He’s exaggerating. The economy is healthy now, but it has been in better shape at many times in the past.Growth reached 4 per cent at an annual rate in the second quarter, which Trump highlighted late last month with remarks at the White House. But it’s only the best in the past four years. So far, the economy is expanding at a modest rate compared with previous economic expansions. In the late 1990s, growth topped 4 per cent for four straight years, from 1997 through 2000. And in the 1980s expansion, growth even reached 7.2 per cent in 1984.It’s not clear what Trump specifically means when he declares that jobs are at the “best point in history,” but based on several indicators, he’s off the mark.The unemployment rate of 3.9 per cent is not at the best point ever — it is actually near the lowest in 18 years. The all-time low came in 1953, when unemployment fell to 2.5 per cent during the Korean War. And while economists have been surprised to see employers add 215,000 jobs a month this year, a healthy increase, employers in fact added jobs at a faster pace in 2014 and 2015. A greater percentage of Americans held jobs in 2000 than now.Trump didn’t mention probably the most important measure of economic health for Americans — wages. While paychecks are slowly grinding higher, inflation is now cancelling out the gains. Lifted by higher gasoline prices, consumer prices increased 2.9 per cent in June from a year earlier, the most in six years.Adjusting for inflation, hourly pay for non-managers — about 80 per cent of the workforce — fell 0.2 per cent over the same period. Yet in 1998, for example, inflation-adjusted hourly pay growth topped 2.5 per cent.___Find AP Fact Checks at http://apne.ws/2kbx8bdFollow @APFactCheck on Twitter: https://twitter.com/APFactCheckEDITOR’S NOTE _ A look at the veracity of claims by political figureslast_img read more

first_imgOTTAWA – Here is a timeline of key events that sparked the 14-month renegotiation of the North American Free Trade Agreement, leading to Sunday’s historic breakthrough with the creation of the new U.S.-Mexico-Canada Agreement, or USMCA:June 28, 2016 — Republican presidential candidate Donald Trump declares his antipathy for the North American Free Trade Agreement in a campaign speech in Pittsburgh, in the heart of a Rust Belt state that he would eventually win to secure the presidency. “NAFTA was the worst trade deal in history,” says Trump, pledging to renegotiate the pact “to get a better deal for our workers.” He promises to leave the agreement if Canada and Mexico refuse to bargain with him.Aug. 16, 2017 — Canada, Mexico and the United States commence the renegotiation of the NAFTA in earnest. The Trump administration opens with a lecture, upping the ante from earlier remarks that it simply wants to “tweak” the deal. Trump’s trade czar Robert Lighthizer declares: “We feel that NAFTA has fundamentally failed many, many Americans and needs major improvement.”October 2017 — The U.S. introduces so-called “poison pills” that Canada says it simply can’t accept. The U.S. wanted to increase American content in automobiles, get rid of Canada’s supply management system for agriculture, establish a five-year sunset clause, do away with a dispute settlement mechanism and reduce Mexican and Canadian access to bidding on U.S. procurement projects. The three countries would eventually reach a new deal on autos, while the U.S. backed away from the other demands.March 14, 2018 — Prime Minister Justin Trudeau says Canada won’t be “bowled over” at the NAFTA talks by Trump. Trudeau makes the remarks while visiting steelworkers in Sault Ste. Marie, Ont. “We’re standing up for ourselves. But we know there’s a win-win-win we can get to,” Trudeau says. “We’re pushing back on some things that we think might not be the right suggestions, which is what people would expect from Canada.”June 7, 2018 — Trump hurls a series of personal insults at Trudeau from Air Force One after the G7 summit in Quebec. The president calls Canada’s prime minister “dishonest” and “weak” after Trudeau repeats his objections to massive steel and aluminum tariffs Trump imposed the previous week — tariffs that remain today. The incident marks a new low in prime ministerial-presidential politics across the 49th parallel at a time when NAFTA negotiations remain deadlocked.Aug. 27, 2018 — Mexico and the United States announce their own bilateral trade deal after weeks of negotiations that were simply supposed to be about autos. Instead they negotiated a sweeping text covering the full scope of the trading relationship. Foreign Affairs Minister Chrystia Freeland is forced to blow up a trip to Europe and diverts to Washington, starting a month of intense negotiations to bring Canada into the NAFTA fold.Sept. 30, 2018 — Staring down a midnight deadline to provide a text of an agreement to Congress, Trump’s and Trudeau’s team work of the last minute details that brings Canada into a renewed continental trade pact. Trudeau leaves the Prime Minister’s Office after a late night cabinet meeting and says six words: “It’s a good day for Canada.”last_img read more

first_imgThe Canadian Press HALIFAX — DHX Media Ltd. reported a loss in its latest quarter compared with a profit a year ago as its revenue rose 5.5 per cent.The children’s entertainment company says it lost $2.4 million compared with a profit of $8.1 million a year ago, due to a larger non-controlling interest in Peanuts and a non-cash write-down in deferred financing charges.The loss amounted to two cents per share for the quarter ended Sept. 30 compared with a profit of six cents per share a year ago.Revenue in what was the first quarter of DHX’s financial year totalled $104 million, up from $98.6 million.Last week, DHX announced a deal to sell its Halifax animation studio to IoM Media Ventures as part of what it said was a strategic shift to focus and streamline its production operations.DHX completed a strategic review earlier this year that ended with a deal to boost distribution and sales of its Peanuts brand in China and elsewhere in Asia. The company also suspended its dividend, cut staff and streamlined operations. Companies in this story: (TSX:DHX)last_img read more

first_imgCompanies in this story: (TSX:BB)The Canadian Press WATERLOO, Ont. — BlackBerry Ltd.’s third-quarter revenue and profit beat analyst estimates, with growth coming from its software and services business.The company, which keeps its books in U.S. dollars, earned US$59 million in net income, up from a loss of $275 million in the same quarter last year.The profit amounted to 11 cents per basic share for the most recent quarter compared with a loss of 52 cents per share a year ago. BlackBerry’s adjusted profit for the quarter ended Nov. 30 was five cents per share.Revenue totalled $226 million, which was even with last year’s third quarter and up from $210 million in the second quarter this year.Analysts on average had expected an adjusted profit of two cents per share and revenue of $212.5 million, according to Thomson Reuters Eikon.The company’s shares were up six per cent in pre-market trading after the announcement.last_img read more

first_imgNairobi: A total of 4,700 heads of state, business leaders, senior UN officials and civil society representatives, who are gathering in this Kenyan city for a five-day meeting of the world’s top body on the environment, will take bold decisions that move global societies to a more sustainable path. The fourth UN Environment Assembly began on Monday under the theme “Innovative Solutions for Environmental Challenges and Sustainable Consumption and Production”. Also Read – Imran Khan arrives in China, to meet Prez Xi Jinping It is the biggest gathering in the Assembly’s short history, with attendance almost double the last event in December 2017. Prominent world leaders attending the Assembly will include French President Emmanuel Macron and Kenyan President Uhuru Kenyatta along with CEOs from major corporations. “Everyone can contribute to solutions to pollution. Policy direction from the government, like the single-use plastic ban helps set the tone for businesses and encourages them to develop sustainable solutions,” UN Environment’s Acting Executive Director Joyce Msuya told IANS. Also Read – US blacklists 28 Chinese entities over abuses in Xinjiang On her expectations from individuals, governments, civil societies and businesses globally, she said: “Upwards pressure from individuals changing their habits and civil society campaigns force business to provide the non-polluting products that consumers demand.” Bold decisions and outcomes are expected as the delegates will negotiate late into the night for five days, says the UN Environment. Resolutions are on the table to push harder for sustainable consumption and production patterns, commit to the protection of the marine environment from plastic pollution, reduce food waste, and advance technological innovation that combats climate change, and reduces resource use and bio-diversity loss. This Assembly’s status as the only UN body outside the General Assembly where all member states convene, and its power to bring together all sectors, means that the global environmental agenda is defined here. Decisions have a profound impact on the goals of the Paris Agreement and the 2030 Agenda for Sustainable Development, as well as paving the way towards the UN Climate Change Summit 2019 and impacting the overall UN agenda. Ahead of the meeting, Msuya appealed to nations to step up and start delivering real change. “Time is running short. We are past pledging and politicking. We are past commitments with little accountability. What’s at stake is life, and society, as the majority of us know it and enjoy it today,” she wrote in a policy letter. As delegates assemble in Nairobi, the UN Environment expressed grief over the crash of an Ethiopian Airlines plane on Sunday, killing all 157 people onboard. “Our thoughts and prayers are with the families of those affected. We are following developments closely,” it said in a statement. A UN Environment background report for the Assembly, which serves as a basis for defining problems and laying out new action areas, makes a strong case for urgent action. The report puts the value of lost ecosystem services between 1995 and 2011 at $4 trillion to $20 trillion; shows how agricultural practices are putting increasing pressure on the environment, costing an estimated $3 trillion per year, and estimates pollution-related costs at $4.6 trillion annually. “As never before, the time to act is now,” said President of the UN Environment Assembly and Minister of Environment of Estonia Siim Kiisler. The Assembly will also see new research launched by the UN Environment, including the latest edition of the world’s only comprehensive global scan of the environment: Global Environment Outlook 6, which was produced by 252 scientists and experts from over 70 countries. The International Resource Panel’s Global Resources Outlook, meanwhile, takes stock of material extraction, including the future outlook and recommendations on how to use natural resources more sustainably. The Assembly is not just about the resolutions and science. Side events and exhibits provide the opportunity for attendees to form partnerships and make deals that benefit people and the environment. The Sustainable Innovation Expo acts as an innovation hub, with over 40 environmental technologies and innovations on display. The One Planet Summit — co-organised by the governments of France and Kenya, and the World Bank — is also being held around the edges of the Assembly, focusing on Africa’s environmental challenges.last_img read more

first_imgKolkata: West Bengal Chief Minister Mamata Banerjee Tuesday announced a list of TMC candidates for all the 42 Lok Sabha seats of the state, dropping 10 sitting MPs. She also attacked the BJP and the Modi government, claiming she had information that “VVIPs” were using helicopters and chartered flights to transport money to bribe voters. Releasing the list, the West Bengal leader assailed the Centre over a host of issues including the Rafale deal,farm distress and shrinking employment opportunities. Banerjee, also the TMC supremo, said the outgoing TMC lawmakers whose names do not figure in the list will be drafted for party work. She said 41 per cent of the nominees in the list are women. The TMC, she said, will also contest some seats in Odisha, Assam, Jharkhand, Bihar and the Andamans.last_img read more

first_imgMumbai: Aamir Khan has said that his son Junaid is currently more interested in doing theatre and he supports his decision. Junaid, Aamir’s elder child from his previous marriage to Reena Dutta, has worked as an assistant director on Rajkumar Hirani’s “PK”, which featured the Bollywood superstar in the lead. “It is up to him (about making his film debut). He should lead his own life and take his own decisions. I don’t want to take it for him. I have left it all to him. He certainly has an inclination towards the creative world and towards filmmaking. Also Read – Hilarie Burton, Jeffery Dean Morgan tie the knot “He is following his path, he has studied theatre. He is actually more interested in theatre than films. I am allowing him to go and find his own path. That’s how it should be. He is very bright,” Aamir said in an interview here. The superstar once again made it clear that if Junaid wants to venture in to Bollywood as an actor, then he will have to follow the proper process and give audition for roles. “If I feel there is something that I got and if he (Junaid) fits in, then only (I will cast him)… He will have to go through a casting process. He hasn’t audition for anything,” Aamir said. Also Read – ‘Vaastav’ gave me the real sense of being an actor: Sanjay Dutt on film’s 20-year anniversary Talking about his eight-year-old son Azad, the “Thugs of Hindostan” star said he has started spending more time with him. “Kiran had told me two-three years ago that I don’t care for them and she was not saying it in a complaining way and that is important to understand. One thing changed after that is I started coming home by 6 pm. From 6 pm to 8 pm I’m with Azad and then after 8 pm I again start work. But those two hours we are together I read to him, talk, etc.”last_img read more

first_imgNew Delhi: The Election Commission on Tuesday directed the probe agencies under the central department of revenue to “come down heavily” on those who indulge in using black money and illegal inducements to vitiate the ongoing poll process.The EC also asked the CBDT to furnish to it a full report by Wednesday on the raids conducted by Income Tax Department on close aides of Madhya Pradesh Chief Minister Kamal Nath and others in four states on Sunday. Also Read – India gets first tranche of Swiss bank a/c detailsUnion Revenue Secretary A B Pandey and CBDT chairman P C Mody Tuesday morning met Chief Election Commissioner Sunil Arora and Election Commissioners Ashok Lavasa and Sushil Chandra, after the poll panel sought a meeting on a recent directive to the revenue department for a fair and impartial conduct of operations by agencies under its command, such as the I-T Department, ED and Customs and DRI. Official sources said the two officials briefed the EC on the intelligence inputs it is receiving during the election season and the mechanism to execute surprise checks and raids in case the inputs are “credible”. Also Read – Tourists to be allowed in J&K from ThursdayThe Delhi investigation wing received a similar input about “large-scale collection, possession and movement of unaccounted assets” from Madhya Pradesh to Delhi and hence the raids happened, the officials told the EC according to the sources. It is likely that the tax department will in the coming days slap criminal charges for possessing illegal foreign assets and benami properties against the accused based on the document found during the raids. As voluminous data, in the form of papers, diaries and hard drives, have been seized and are being processed, the CBDT was taking time to present a full report of the operation, they said. They added that the I-T Department has also grilled a few people and sending summons to a number of them to depose so that the probe can be taken forward.last_img read more

first_imgRecent news about an increase in Indian corporates and state entities issuing dollar bonds is welcome news, especially since it clearly shows investor appetite for lending to credible Indian business models. However, relatively easy liquidity and high investor appetite for lending in the international markets must be tempered by the fact that borrowing in foreign currencies is beneficial for businesses with certain specific balance sheet structures. Also Read – A special kind of bondWhile relatively low interest rates abroad and increasing investor demand for relatively good quality debt assists in borrowing for Indian businesses, it is essential to realise that severe foreign exchange rate fluctuations can severely impact the debt servicing capacity of a company that relies excessively on foreign borrowings. For businesses that have assets creating dollar cash flows, borrowing in the currency makes sense. For instance, for an exporter of products or services to the United States with a dollar-based stream of income, financing greenback liabilities is more feasible. While macro factors are beyond the control of a business, understanding and creating a well-balanced balance sheet is something that deserves attention. Not only is it essential for a balance between assets that can generate cash flows to match liability outflows, in the case of multiple currencies, it is vital that currency mismatches are avoided as far as possible. Also Read – Insider threat managementFor businesses looking to take on foreign currency denominated debt, it is essential that there is a long-term focus on how foreign exchange volatility will be dealt with. For firms that do not have dollar-based assets that generate foreign currency denominated cash flows, prudence is advised on foreign currency borrowings. While the appreciation of the Indian rupee can lead to windfall gains by way of lower interest and principal payments, a severe depreciation of the currency, a factor beyond the control of a business can leave the company in a precarious position with debt servicing. Most importantly, the company might be in the sectors of financial services, energy or IT services, and therefore being exposed to the macro-vagaries of the foreign exchange market for business success is not an ideal situation to be in. The experiences of European and Japanese financial institutions during the 2008 financial crisis are a good reminder of the perils of creating excessive dollar-denominated liabilities while owning assets primarily in domestic currencies. Balance sheet imbalances and a shortage of dollar funding precipitated a crisis that severely damaged the financial systems and institutions in Europe and Japan. One major takeaway from the 2008 crisis was that creating an imbalanced balance sheet renders the business exposed to risks, managing which is inherently not the core objective of the company. For instance, an energy developer facing severe pressure to fund dollar liabilities isn’t ideal. The funding pressure may lead to a situation in which despite having a robust energy business, the energy developer might be severely loss-making due to a significant change in the cost of foreign liabilities that need to be paid off. The decision of how much of liabilities must be in a foreign currency is no less important than the choice of how much debt a business must utilise. While the decision around leverage is driven by the quality of cash flows that a company has to finance the future liability payments, i.e. interest payments, the decision around the currency to be utilised must also be factored in separately. Effectively, the risk a business undertakes in using foreign currency debt must factor in the volatility in the currency pair that is applicable in terms of the cash flows and liability payments. For instance, if a business receives all incoming cash flows in Indian rupees, then the amount of dollar-denominated debt ideal for the company needs to be carefully evaluated. In a world with relatively low yields, especially in the developed economies, and a growing economy such as India, the interest to lend to Indian businesses by global investors is inevitable. For any business, the focus must be on creating a long-term track record of utilising foreign currency denominated debt effectively to either take advantage of relatively low-interest rates or potentially finance international growth. However, prudent usage of foreign debt by Indian business is also vital to ensure that investor confidence builds up for both individual companies and Indian firms in general. Judicious usage of foreign currency debt is critical for the long-term goal of increased access to global capital markets for Indian companies. As with financial structures and balance sheet decisions, there is no one-size-fits-all solution for foreign currency borrowings. A sustainable long-term focused borrowing strategy will be the key differentiator for successful businesses.(The author heads Development Tracks, an infrastructure advisory firm. Views expressed are strictly personal)last_img read more

first_imgBengaluru: Kings XI Punjab captain Ravichandran Ashwin played down the animated reaction from his Royal Challengers Bangalore counterpart Virat Kohli after taking his catch near the boundary rope, saying both of them react out of passion. With 27 runs needed from the final over, Ashwin hit the first ball for a six, but on the very next delivery, he hit one straight to Kohli at long-on off Umesh Yadav’s bowling. Kohli celebrated in his typical usual self, giving Ashwin a fiery send-off. Also Read – Puducherry on top after 8-wkt win over Chandigarh Ashwin, on his part, was also seen throwing his gloves in the dugout in anger. “I just played with passion, so does he (Virat). That’s it. As simple as that,” Ashwin said at the post-match press conference here on Wednesday night after KXIP lost to RCB by 17 runs. KXIP skipper said his team failed to come good during crunch situations. “Three overs for 60 odd runs wasn’t desirable, but we were in the chase all along and I thought we couldn’t finish it off in crunch situation. That is what you back the senior players to do. Didn’t quite turn out the way we wanted. That is exactly how that is gone for us the entire tournament. Also Read – Vijender’s next fight on Nov 22, opponent to be announced later “Whenever we played those crucial moments, we won, and whenever we haven’t, we have lost it, because the games are really really tight for us,” said Ashwin. The 32-year-old said KXIP lost the plot in middle overs despite Nicholos Pooran and David Miller bringing them back into the game. “When you chase down 200, you ideally like one of your batsmen to make 70-80. We were not in it. We were 105 in 10 overs or something like that. We lost momentum similar to what RCB did in middle overs, but I thought Nicholos Pooran played really well and he got us back into the game. “I thought we were cruising at 4 overs 45 or 46 needed. From there on, it is quite disappointing that we could not finish the game on this ground.” Ashwin felt it was important to curtail AB de Villiers as he could make a lot of difference in end overs. “I think (Marcus) Stoinis was 26 off 30 balls before the last over started. So I don’t think that was quite the parameter. I think AB de Villiers is someone who definitely makes a difference in those end overs. It is very important we curtail him. Like I said our execution was all over the place towards the last two-three overs,” he said. India off-spinner said 30 runs in two overs was getable here at Chinnaswamy track, given the bowling attack of RCB, which had crumbled a lot in this season. “I don’t think it was really tilted. It was a balance like 2 overs 30 is still getable in this ground against the bowling attack we have seen that has crumbled before,” he said. Ashwin said had Miller connected one out of the park, KXIP would have won. “If David (Miller) would have connected one out of the ground it was – like I said it was that close. Just that we could not close out the game. That is really been our downside of the year so far. Hopefully, we can correct it in the coming games,” he said. On winning three out of their remaining games now, Ashwin said it is important to take one game at a time. “I think we have a couple of more players who get fit by the time we go to Hyderabad which will be a good boost for us. You can look at it as three out of three now, but it is very important to see that we have to win one at a time. The last two games are home games for us where we played reasonably well,” he said. “We have played some good cricket to actually end up only winning five games in the season. It is not quite pleasing that way, but going into the next three games, I am pretty confident that we can turn it around,” he said. Meanwhile, Marcus Stoinis lavished praise on de Villiers for his match-winning knock by saying, “What a superstar. He showed it again how good he is.last_img read more

first_imgNew Delhi: These are interesting times in the price-sensitive Indian smartphone market where one Chinese brand after another is entering the fray like winged insects swarming frantically at light sources during the rains –only to disappear soon. Amid all this, a new trend has emerged where certain smartphone leaders have taken the swords out in the open, going beyond just teasers and making social media platforms a new war zone –giving users more dope to gossip around and create memes and jokes. Also Read – Commercial vehicle sales to remain subdued in current fiscal: IcraLeading the pack is Xiaomi’s India Managing Director Manu Kumar Jain who has seen a fruitful 2018 when his company broke all records and beat its rivals throughout the year. The 2019, however, may have a different story to share. Manu Jain’s first Twitter outburst in 2019 was against Chinese smartphone brand Realme where he hit out at Realme 3 Pro that features Qualcomm Snapdragon 710, saying this is older than Snapdragon 675 used in Xiaomi’s latest device Redmi Note 7 Pro. Also Read – Ashok Leyland stock tanks over 5 pc as co plans to suspend production for up to 15 daysMadhav Sheth, the CEO of Realme India which became the fastest vendor to sell six million units after its debut in May 2018, reacted, saying Xiaomi is “insecure” of its success in the country. “Someone is afraid,” Seth tweeted. As retweets picked up pace, the original tweets were immediately deleted. Manu Jain’s worry can be understood from the fact that Realme clocked seven per cent market share in India in the first quarter of 2019. Despite losing its turf in India a little, Chinese smartphone maker Xiaomi retained its top slot in the first quarter (Q1) of 2019, garnering 29 per cent market share, according to Counterpoint Research. Xiaomi’s India shipments declined by 2 per cent year-on-year (Y-o-Y) as it had recorded 31 per cent market share in the same quarter last year. Realme continued to figure among top five brands for the second successive quarter while Vivo’s market share reached its highest-ever level in India in Q1 2019 (Manu Jain, however, spared Vivo in his tweets). “We are targeting to sell at least 15 million handsets this year and I believe in sales numbers,” Madhav Sheth, Chief Executive Officer, Realme India, recently told IANS. Xiaomi, this time joined by Taiwanese smartphone maker Asus, took potshots at OnePlus earlier this week. While Asus was subtle, Xiaomi took a direct swipe: “Congratulations OnePlus, we heard about your new flagship. Flagship Killer 2.0: Coming soon”. Asus only talked about the battery capacity in its latest ZenFone 6. Realme is working on to collaborate with 20,000 multi-brand retail outlets across 150 cities in the country. In December last year, superstar Amitabh Bachchan sent a panic tweet about his Samsung smartphone going kaput for a while when Xiaomi’s Jain joined the conversation, and offered Big B to switch over to a Xiaomi device. Interestingly, Bachchan endorses rival brand OnePlus in India. Who is next on Manu Jain’s tweet radar only time can tell, but social media platforms have become a new ring for smartphone makers to battle it out in India.last_img read more

first_imgRabat  –  President of the State of Palestine, Mahmoud Abbas said the final declaration which was issued at the end of the 20th meeting of Al-Quds Committee, held in Marrakech on January 17-18, is comprehensive and includes a series of measures to support the resistance of Maqdessis and allow them to stay in their territories.In an interview with Moroccan TV channel Al-Oula before leaving Morocco on Saturday following the closing session of the meeting of Al-Quds Committee, Abbas said the Marrakech declaration “includes more than thirty resolutions that address the suffering (of Mqdessis) and future prospects as we wish them to be.”He said these resolutions are likely to contribute to the resistance of the Palestinians and to strengthen the presence of Maqdessis in their territory, through various forms of support in different areas, adding that the escalation of the Israeli attacks and the proliferation of settlements targeting the holy city and the territories, aims to drive the Palestinians from their lands.  Al-Quds Committee, an offshoot of the Organization of Islamic Cooperation, is holding its 20th session from January 17 through 18.Foreign ministers of the committee member-states, the OIC secretary general, High-level emissaries representing the UN Security Council permanent member-states, the EU, the Vatican, the UN and the Arab league took part in the Marrakech meeting.last_img read more