Latest News Today – Rupee Weakens 13 Paise To Settle At 74.42 Against Dollar

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After Hitting 3-Week High, Rupee Weakens To 74.42 Against Dollar: Here's Why

Rupee Vs Dollar Today: The rupee settled at 74.42 against the dollar

A day after hitting its three-week high, the rupee weakened 13 paise against the US dollar on Friday, July 30, to settle at 74.42 (provisional), due to muted domestic equities, higher crude oil rates, and unabated foreign fund outflows. At the interbank foreign exchange market, the domestic unit registered high volatility as it opened at 74.30 against the dollar and registered an intra-day high of 74.27. It witnessed a low of 74.44 during the session. In an early trade session, the local unit inched two paise to 74.27 against the greenback.

The domestic unit snapped its two-day winning streak and settled at 74.42, down 13 paise over its previous close. On Thursday, July 29, the local unit settled at 74.29 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading unchanged at 91.86.

On July 29, the domestic currency strengthened to its highest level in more than three weeks against the greenback tracking the U.S. Federal Reserve’s dovish stance. Gains in domestic equities also contributed to the rise in rupee’s performance. Yesterday, the rupee touched 74.22-74.23 – its strongest mark since July 6.
 

Mr Amit Pabari, MD, CR Forex:

”Globally, the number of Americans filing new claims for unemployment benefits remained near 400k in the week despite good job openings and ample attempts by many businesses to add staff. That apart US economic growth in the Q2 advanced to 6.5% but remained below forecasts of 8.5% pushing dollar index below 92 region and raising concerns over their economic outlook. 

On the domestic front, rupee has been backed up only due to inflows on account of various IPO’s and stake sales. However, the activeness of the RBI downside along with the importer’s rush to cover the dollar shall keep the rupee under pressure.

Overall, for USDINR pair 74.20 remains crucial support to determine the way forward for the rupee. Till the time it trades above 74.20, any dips between 74.20-74.30 levels can be taken for buying, while for selling we suggest waiting for a bounce-back above 74.60-70 to cover near term exposures.”
 

On the domestic equity market front, the BSE Sensex ended 66.23 points or 0.13 per cent lower at 52,586.84, while the broader NSE Nifty slipped 15.40 points or 0.1 per cent to 15,763.05.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities:

”The week has been volatile for the traders, as benchmark indices corrected sharply after a muted opening. However, once again the Nifty/ Sensex witnessed support near 15500/ 51900 levels and reversed quickly. Among Sectors, the Metal index outperformed during the week and rallied over 9 percent, whereas profit booking was seen in private banks and Energy stocks.

On the sectoral front, the texture suggests Metal stocks would continue to outperform in the near term. Any short-term corrections would be used to add quality Metal stocks with the medium-term time horizon.”

According to exchange data, the foreign institutional investors were net sellers in the capital market on July 29 as they offloaded shares worth Rs 866.26 crore. Global oil benchmark Brent crude declined 0.25 per cent to $ 75.86 per barrel in futures trade.

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Telangana: Senior IAS, IFS officers get six-month jail for | Sidnaz Blog

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(Picture used for representational purpose only)

HYDERABAD: Justice T Amarnath Goud of the Telangana high court has convicted six officers in a contempt case and sentenced them to jail for six months along with a penalty of Rs 2,000 each.
The judge convicted IAS officers — A Santha Kumari (special chief secretary of environment and forest sciences) and D Amoy Kumar (Rangareddy district collector) — and IFS officers — R Shobha (principal chief conservator of forests) and Sunita M Bhagwat — and along with divisional forest officer Janakiram and additional collector and forest settlement officer S Tirupati Rao in the case and imposed jail terms and penalties on them.
The judge handed out the sentences for violating the court orders in a land case in Rangareddy district.
The judge handed out the sentences under the Contempt of Courts Act for violating the court orders issued in respect of 383 acres of land belonging to Mohammed Sirajuddin and nine others of Maheswaram mandal in Rangareddy district.
The land was sought to be converted into a reserve forest by dispossessing the owners of their property. Despite advice from the forest settlement officer that the action of the revenue and forest officials was not feasible and despite a court order to either acquire the land or return the same to the owners, the officials had failed to do so inviting contempt of court charges.

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Hyderabad: Niloufer junior doctor assaulted by patient’s kin | Live Newspaper Hyderabad

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Niloufer superintendent Dr Murali Krishna lodged a compliant with the Nampally police. (Representative image)

HYDERABAD: In a second incident, reported within a span of few days, another junior doctor was assaulted at a government-run hospital in the city on Saturday by a patient’s relatives.
The latest incident took place at Niloufer Hospital where final year student, Dr Vishnu Vardhan Reddy, was attacked by attendants of a patient allegedly for honking at them as they were blocking the exit of the ICU building.
Niloufer superintendent Dr Murali Krishna lodged a compliant with the Nampally police.
In his complaint, the superintendent stated: “Dr Vishnu Vardhan Reddy, final year post graduate of paediatric department, was assaulted by attendants of patient Md Shafuddin on the hospital premises in the intensive care building ground floor. Requesting for necessary action against the accused.”
As per the complaint, the incident took place around 2 pm. The accused started abusing the doctor when he honked signalling at them to clear the way. The attendants opened the car door, hit the doctor in the face and tore his shirt. A female attendant also used abusive language against Reddy.
TOI’s attempts to reach Dr Reddy or the family involved in the incident for their comments failed to yield any result.
This comes close on the heels of the previous incident reported from the Government Chest Hospital where a junior doctor was assaulted, leading to unrest among the medical fraternity and boycott of duties. “We constantly work in fear of losing the confidence of the patient’s attendants and what consequences we will have to bear. If the public treats us this way, despite us working for 36 hours at a stretch and under stressful conditions, it’ll lead to trauma,” said a female junior doctor from the hospital.
Meanwhile, members of the Telangana Junior Doctors Association (TJUDA) said that these repeated incidents have led to many doctors slipping into depression. “Many doctors are now facing mental health issues due to the tremendous workload and shoddy treatment meted out to them by patients’ attendants,” said Dr Dharmula Sagar, president TJUDA.

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Latest News Today – India Coronavirus Cases: India’s ‘R-Value’ Inching Up,

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India has logged over 3.16 crore cases since the start of the pandemic.

New Delhi:

India’s ‘R-Value’ is inching up, and it’s a cause of concern, AIIMS Chief Dr Randeep Guleria told NDTV on Saturday, stressing on the need of aggressive containment strategies in the parts of the country that are witnessing a surge in fresh Covid infections. His remarks come amid concern over a third wave. 

“Starting from .96, and going all the way up to 1, the rise in R-Value is a cause of concern. Simply put, this means that the chances of infection spreading from a person, who has Covid, to others have gone up. The areas which are witnessing this surge should bring in restrictions and employ “test, track, and treat” strategy to break the chain of transmission,” Dr Guleria explained. The R-Factor or number shows the effective reproductive number of a virus.

India on Friday recorded 44,230 fresh infections, the highest single-day surge in three weeks. The fresh spike in cases has been worrying in Kerala and some northeastern states. Forty-six districts in the country have a positivity rate of more than 10 per cent, the government said on Saturday. 

This week, reports quoting the US health authority –  the Centers for Disease Control and Prevention (CDC) – said that Delta variant of the coronavirus may cause more severe illness than all other known versions of the virus and spread as easily as chickenpox.

Explaining this in Indian context, Dr Guleria said: “Measles or chicken pox used to have R factor of 8 or more, which means one person could infect eight others. That sort of suggests that this virus is highly infectious. We saw that in our second wave, because whole families were getting infected. This happens with chicken pox also. In a similar manner, when one person has Delta variant, the whole family is vulnerable.”

With nearly 50 per cent of fresh Covid cases coming from Kerala, there’s a need to evaluate the surge in infections, Dr Guleria further stressed. “In the beginning, Kerala had set a precedent for others by managing the pandemic well. They also had an aggressive vaccination drive. Yet despite that, are witnessing a spike in a way that’s different from other parts of the country. This needs to be evaluated. Also, is there a variant behind the surge? Are containment strategies being aggressively followed – all this needs to be evaluated,” the AIIMS chief explained.

Neighbouring states like Karnataka and Tamil Nadu also need to adopt aggressive testing strategy to break the chain of transmission, he added.

In Tamil Nadu, 66 per cent of people have developed anti-bodies, a recent sero survey showed. Yet the state has been witnessing a spike. The sero surveys, however, are not an indicator of herd immunity, Dr Guleria explained. “In Brazil, similar survey from a city showed 70 per cent of population had herd immunity. Yet we had a huge outbreak. We really don’t what’s the cut off in such cases, and also the antibodies gradually decrease over a period of time. It, however, shows that the chances of serious infections are lesser. For instance in Kerala, and UK, people are getting the infection, they may be spreading but they are not getting serious infection,” he said. 

India has logged over 3.16 crore cases so far, and 4.23 lakh people have died due to Covid. 

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Telangana bars reg of farmland less than 20 guntas | | Sidnaz Blog

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Sources said developers hit upon this idea after making efforts to sell undivided share of land in unapproved layouts and unregistered venture projects with Telangana Real Estate Regulatory Authority (RERA) to gullible buyers. (Picture used for representational purpose only)

HYDERABAD: The Telangana municipal administration and urban development (MA&UD) department has told the registration and stamps department not to register farmland or plots below 20 guntas (2,000 square metres).
The move comes after officials realised some property developers were registering open plots in illegal layouts in the name of ‘farm plots’. Unauthorised layout registration was banned by the state government in September 2020.
Sources said developers hit upon this idea after making efforts to sell undivided share of land in unapproved layouts and unregistered venture projects with Telangana Real Estate Regulatory Authority (RERA) to gullible buyers.
The developers were trying to take advantage of the fact that one does not need a layout copy to register agricultural land. “Besides stopping registration of farm plots below 20 guntas, we have also asked the registration department to insist on the layout copy if a farm plot abuts a new road,” MA&UD department principal secretary Arvind Kumar told STOI.
He said the decision to stop registration of plots in unauthorised layouts had paid dividends and the government was able to control illegal ventures across the state. The government banned registration of non-agriculture properties not having either a layout copy in case of open plots or a sanctioned plan in case of buildings.
Following this decision, thousands of layouts, which were developed without seeking approvals from the civic bodies, were stuck as layouts and plots could not be regularised under the layout regularisation scheme (LRS). Soon after banning illegal plots, 25 lakh applications were filed under the LRS, an official said.

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PM Narendra Modi to IPS officers: Fight negative image | | Live Newspaper Hyderabad

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HYDERABAD: Prime Minister Narendra Modi on Saturday asked Indian Police Service (IPS) probationers to strive for changing the negative image about police among the general public.
“There has been a negative perception among people about police and this is a challenge to police. During the pandemic, the perception changed after police reached out and helped the people in need. But now the old perception is back. Why is public confidence not improving when it comes to police?” Modi asked, virtually addressing IPS probationers of the 71st and 72nd batch of Sardar Vallabhbhai Patel National Police Academy (SVPNPA), Hyderabad.
“For country’s security, implementation of law and during crushing terror, police give their life. This challenge to change the police image by ending the negative perception, now depends on you,’’ he said, comparing police with NDRF.
According to him, people have high respect for NDRF since they get confidence once they arrive during a calamity and that they risk their lives to save people.
The passing out parade for the 178 probationers, including 33 lady probationers, and 34 trainee officers from Nepal, Bhutan, Maldives and Mauritius would be held at NPA campus at Shirvrampalli on August 6.
Speaking about the challenges of cyber security and financial frauds, Modi said new research and experiments should be done and applied by police to avert the designs of criminals.
While addressing the trainee officers, Prime Minister Modi said that whether the trainee officers would change the system or the system would change them, would depend on them during their career.
“Whenever you are in field, whatever decisions you take, it must be in the country’s interest. You should always have the spirit of ‘Nation First, Always First’,’’ the PM said.
Modi said that the induction of more women into the police department would only strengthen the police force. Interacting with some of the trainee officers, PM Modi said that financial frauds, targeting of women and children by cyber criminals was a major challenge.
He also sought suggestions about what could be done to solve this issues by using technology.
Apart from doing their routine policing responsibilities, the PM suggested woman IPS trainees to occasionally visit local girl schools and interact with the students as it would motivate them to achieve their goals.

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Latest News Today – Scientists Detect Light Being Ejected From Behind Black

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Researchers have now been able to see light being ejected from behind a supermassive black hole, 800 million light-years away from Earth. These light waves — called “echoes” — were detected in the form of X-rays, according to a study published in the Nature journal. Over a century ago, Albert Einstein predicted through his Theory of General Relativity that the gravitational pull of black holes could be so strong that they can twist magnetic fields and bend light waves right around them, not just trap them.

According to Einstein’s theory, it should be possible to see light waves ejected out of a black hole’s backside. That theory has finally been proven correct.

Black holes were initially, or simplistically, believed to be empty spaces. However, the theory was later turned on its head when researchers carried out more detailed studies and found that a black hole is a very small area packed with a great amount of matter. Think of it as a star ten times bigger than our Sun squeezed into a sphere the size of a big city. This compression results in the formation of a very strong gravitational pull that even light cannot escape.

Previous studies have proven that light waves bend around a black hole. However, this is the first time scientists saw light waves coming out of the other side of a black hole.

Dan Wilkins, a Stanford University astrophysicist and the study’s co-author, said in a statement any light that goes into the black hole doesn’t come out, “So, we shouldn’t be able to see anything that’s behind the black hole. The reason we can see that is because the black hole is warping space, bending light and twisting magnetic fields around itself.”

Wilkins and his team used a special high-power X-ray telescope to study the black hole at the centre of the spiral galaxy, Zwicky 1. They found that light, in the form of X-rays, was being ejected out of the black hole’s backside, an unusual phenomenon.

Black holes are formed when massive stars explode into a supernova and collapse in on themselves.


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Latest News Today – Infrastructure Output Of Core Sectors Rises 8.9% In June

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Infrastructure Output Of Core Sectors Rises 8.9% In June 2021

June Infrastructure Output: The output of core sectors grew by 8.9 per cent

Infrastructure Output in June 2021: The output of the eight core infrastructure sectors rose to 8.9 per cent in June 2021, compared to the same month last year, government data showed on Friday, July 30. the infrastructure output witnessed a de-growth of 12.4 per cent in June 2020 when the pandemic-induced lockdown hit industrial activity across the country. The eight core industries consist of 40.27 per cent of the total weight of the items included in the industrial output or the Index of Industrial Production. (Also Read: Infrastructure Output Of Core Sectors Rises 16.8% In May 2021 )

The combined index of the eight core industries stood at 126.6 in June 2021, according to provisional data released by the Ministry of Commerce and Industry today. The growth in the infrastructure output last month was mostly led by the steel sector, followed by natural gas, and coal sectors. 

The infrastructure output – which comprises the eight core sectors such as electricity, coal, crude oil, among others, recorded a growth of 25.3 per cent in April-June period of the current fiscal, compared to a de-growth of 23.8 per cent in the corresponding period last year.

The production of steel, natural gas, and coal sectors increased by 25 per cent, 20.6 per cent, and 7.4 per cent respectively. The production of petroleum refinery products, fertilizers, cement, and electricity sectors also registered growth in June, increasing by 2.4 per cent, two per cent, 4.3 per cent, and 7.2 per cent, respectively, compared to the corresponding period last year.

Crude oil is the only sector that registered a de-growth in production last month at 1.8 per cent, according to Commerce Ministry data.

Aditi Nayar, Chief Economist, ICRA said that continued unlocking by the states, improved mobility, and higher electricity demand, pushed up in part by the lull in rainfall, are expected to boost the core sector growth to 11-14 per cent in July 2021.

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Latest News Today – Maharashtra’s First Ever Zika Virus Case Reported In

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Maharashtra's First Ever Zika Virus Case Reported In Pune District

A quick response team visited the area and spoke to residents about precautions they must take.

Pune:

Maharashtra has reported its first-ever case of Zika virus infection. The 50-year-old woman patient from Purandar area in Pune district also tested positive for Chikungunya.

A state health department release said she has recovered and she and her family members have no symptoms at present.

According to the health department, several cases of fever were reported from Belsar village in Purandar tehsil from the beginning of July. Five samples were sent to National Institute Of Virology (NIV), Pune, for testing and three of them tested positive for Chikungunya.

Thereafter, an NIV team visited Belsar and Parinche villages between July 27 and July 29 and collected blood samples of 41 people. Out of these, 25 tested positive for Chikungunya, three for Dengue and one for Zika virus.

The state’s quick response team visited the area today and spoke to local residents about the precautions they must take. The health department will also conduct a door-to-door survey in the village.

The Pune district administration has requested people not to panic. It has said that the case was detected owing to the proactive work by the teams on the field. The administration said it is working hard to contain the spread.

Prior to this, only Kerala had reported cases of Zika virus infection this year. The southern state currently has 63 cases of the infection.

The infection is spread by Aedes mosquitoes, which are also carriers of Dengue and Chikungunya.

Some common symptoms of a Zika virus infection are fever, body aches, rash, conjunctivitis, muscle and joint pain, malaise or headache. Symptoms generally last for 2-7 days and most people infected do not develop symptoms, according to the World Health Organization.

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Latest News Today – Infinix Smart 5A to Launch in India on August 2,

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Infinix Smart 5A smartphone is all set to launch in India on August 2, a Flipkart teaser page reveals. The teaser page also shows the design and specifications of the smartphone ahead of the official launch next week. It is likely going to be an offshoot model of the Infinix Smart 5 that was launched in India in February this year. Infinix Smart 5A’s battery, colour options, weight, and security lock features have been teased on the Flipkart page.

Flipkart has published a dedicated page confirming the launch date of Infinix Smart 5A on August 2. The phone is seen to sport a waterdrop-style notch display with a slight chin at the bottom of the screen. The volume rockers and the power buttons are placed on the right spine of Infinix Smart 5A, while the SIM tray is positioned on the top left edge. The speaker grille, 3.5mm audio jack, and the charging port are all placed at the bottom edge of the smartphone.

On the back, Infinix Smart 5A is seen to feature a rectangular-shaped camera module with dual rear camera sensors placed one below the other. There is another dummy cutout at the bottom of the two sensors with “AI” written on it, possibly showcasing the AI-enhanced capabilities of the phone’s camera setup. The flash sits right next to the camera sensors. The renders show a rear-mounted fingerprint sensor on board. The Flipkart teaser also suggests that Infinix Smart 5A may come in Ocean Wave, Midnight Black, and Quetzal Cyan colour options.

Infinix Smart 5A is teased to feature a 6.52-inch HD+ IPS display with 500 nits brightness. The phone packs a 5,000mAh battery that claims to last for up to 19 hours of video playback, up to 28 hours of music playback, up to 13 hours of gaming time, up to 16 hours of Web surfing, up to 33 hours of 4G talk time, and up to 35 days of standby time.

The upcoming Infinix Smart 5A is teased to be 8.3mm thin and weigh 183 grams. In addition to the fingerprint sensor, the phone will also support face unlock.


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Tasneem Akolawala is a Senior Reporter for Gadgets 360. Her reporting expertise encompasses smartphones, wearables, apps, social media, and the overall tech industry. She reports out of Mumbai, and also writes about the ups and downs in the Indian telecom sector. Tasneem can be reached on Twitter at @MuteRiot, and leads, tips, and releases can be sent to [email protected]
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