Narendra Modi responds to Uri attack during BJP Kozhikode meet

In his first public address after the Uri attacks, Prime Minister Narendra Modi gave out a stern message to Pakistan. During the Bharatiya Janata Party meet in Kozhikode one saw a glimpse of the pre-2014 leader in his speech as he singled out Pakistan responsible for the September 18 attacks where 18 soldiers lost their lives.

While talking about terrorism, Modi said that though India and Pakistan both got independence at the same time, India as a country exports software, but Pakistan exports terrorism. Coming back to the Uri attack, he emphasised on how India lost 18 soldiers and that their sacrifice shall not go in vain. Issuing a warning to Pakistan, Modi said that India shall leave no stone unturned to isolate Pakistan.

The last few months saw many infiltrations by Pakistan. Modi also spoke about how India has seen attacks by terrorists more than 17 times, but the Indian army defeated them. The death toll of terrorists went up to at least 110 terrorists by Indian army while they were trying to infiltrate.

While delivering his speech, Modi directly addressed the citizens of Pakistan, saying that India is ready to fight. If Pakistan has the strength, it should come forward to fight against poverty and then one can see who wins, who is able to defeat poverty and illiteracy first, Pakistan or India.

Bringing in the context of Kashmir, Modi said, “You have PoK (Pakistan-occupied Kashmir). You cannot manage it. Bangladesh used to be yours, you couldn’t manage it. You cannot manage Gilgit, Baltistan, Pakhtunkhwa, Balochistan, Sindh… and you are talking about Kashmir?”

In his stern articulation, Modi also ended up talking about how the day is not far where Pakistan’s population will go against their government in order to fight the terrorism.

While praising the BJP workers in Kerala, Modi said how everyone thinks of Kerala as ‘God’s Own Country’ and Kerala is an impression of purity and holiness. Further he assured the party workers that their hard work and perseverance shall not go unnoticed. Before he started his speech and attacked Pakistan, he paid tribute to the state and began his speech in Malayalam.

Narendra Modi, in his speech also made it a point that the people of Kerala understand how BJP thinks that the state has the potential to be the top state in the country considering its literacy rate and that the BJP government would give it all the support to attain that.

Sources: The Times of India, NDTV, Hindustan Times

All you need to know about 36 French Rafale Jet deal

On Friday, September 23, Defence Minister Manohar Parrikar and French Defence Minister Yves Le Drian signed the deal for the direct acquisition of 36 Rafale fighter jets from France. This $8.7 billion (Around Rs 56,000 crore) deal will provide jets which will equip latest weapon system and missiles besides multiple India-specific modifications. This will give the Indian Air Force (IAF) further capability to counter China and Pakistan squads.

The negotiations to buy the fighter jets came in on Wednesday, September 21 after which the French Defence Minister Yves Le Drian arrived in the country early on Friday. This deal was inked sixteen months after Prime Minister Narendra Modi, during his visit to France in April 2015 announced the India’s keen interest in buying 36 Rafale jet fighter aircraft.

While interacting with the media, Parrikar said, “Pleased to inform that India has signed an agreement for the procurement of 36 Rafale aircraft with weapon systems, five years complete spares and maintenance, performance-based logistics, India specific special provisions. This is an achievement which will give the IAF the required potency in terms of penetration and capability.”

This deal is the first fighter plane contract for the Modi government and comes with a saving of 750 million Euros. This was only gained after constant Indian negotiations, over the UPA government deal which PM Modi scrapped. There is a 50% offset clause which means Indian businesses will gain work to the tune of over three billion Euros.

The delivery of the aircraft will start in 36 months and will be completed in 66 months from the date the contract is inked. The Rafale jet comes equipped with state-of-the-art missiles like ‘Meteor’ and ‘Scalp’ that will give IAF a capability that was not a part of its armaments.

What makes the Rafale jet a strategic weapon for IAF is its Beyond Visual Range (BVR) Meteor air-to-air missile with a range in excess of 150 km. With this integration, IAF can hit targets inside both Pakistan and across the northern and eastern borders without crossing India’s territorial boundary. The other missile, Scalp, is a long-range air-to-ground cruise missile with a range in excess of 300 km. The integration of this missile will give IAF an edge over its adversaries. The missiles come with a 2 metres precision.

Defence Ministry sources tell PTI that the price of 36 aircraft comes up to 3.42 billion Euros. It is the armaments which cost India about 710 million Euros and the Indian-specific changes, which includes the Israeli helmet-mounted displays, will cost 1,700 million Euros. Other associate supplies for the fighter jets amount to 1800 million Euros while performance-based logistics will cost about 353 million Euros.

As of now, India has a fleet of 34 squadrons as against a sanctioned strength of 44.

Sources: Firstpost, Economic Times,

All you need to know about 36 French Rafale Jet deal

On Friday, September 23, Defence Minister Manohar Parrikar and French Defence Minister Yves Le Drian signed the deal for the direct acquisition of 36 Rafale fighter jets from France. This $8.7 billion (Around Rs 56,000 crore) deal will provide jets which will equip latest weapon system and missiles besides multiple India-specific modifications. This will give the Indian Air Force (IAF) further capability to counter China and Pakistan squads.

The negotiations to buy the fighter jets came in on Wednesday, September 21 after which the French Defence Minister Yves Le Drian arrived in the country early on Friday. This deal was inked sixteen months after Prime Minister Narendra Modi, during his visit to France in April 2015 announced the India’s keen interest in buying 36 Rafale jet fighter aircraft.

While interacting with the media, Parrikar said, “Pleased to inform that India has signed an agreement for the procurement of 36 Rafale aircraft with weapon systems, five years complete spares and maintenance, performance-based logistics, India specific special provisions. This is an achievement which will give the IAF the required potency in terms of penetration and capability.”

This deal is the first fighter plane contract for the Modi government and comes with a saving of 750 million Euros. This was only gained after constant Indian negotiations, over the UPA government deal which PM Modi scrapped. There is a 50% offset clause which means Indian businesses will gain work to the tune of over three billion Euros.

The delivery of the aircraft will start in 36 months and will be completed in 66 months from the date the contract is inked. The Rafale jet comes equipped with state-of-the-art missiles like ‘Meteor’ and ‘Scalp’ that will give IAF a capability that was not a part of its armaments.

What makes the Rafale jet a strategic weapon for IAF is its Beyond Visual Range (BVR) Meteor air-to-air missile with a range in excess of 150 km. With this integration, IAF can hit targets inside both Pakistan and across the northern and eastern borders without crossing India’s territorial boundary. The other missile, Scalp, is a long-range air-to-ground cruise missile with a range in excess of 300 km. The integration of this missile will give IAF an edge over its adversaries. The missiles come with a 2 metres precision.

Defence Ministry sources tell PTI that the price of 36 aircraft comes up to 3.42 billion Euros. It is the armaments which cost India about 710 million Euros and the Indian-specific changes, which includes the Israeli helmet-mounted displays, will cost 1,700 million Euros. Other associate supplies for the fighter jets amount to 1800 million Euros while performance-based logistics will cost about 353 million Euros.

As of now, India has a fleet of 34 squadrons as against a sanctioned strength of 44.

US Federal Reserve maintains status quo: Here’s a look at top takeaways

The US Federal Reserve for the sixth consecutive time has kept the key rates unchanged at 0.25 to 0.5 percent. In a meeting on Wednesday, September 21, the Federal Reserve said that it needs to see more strength in US economy before there are changes made in the rates.

“Our current policy should help move the economy toward our statutory goals of maximum employment and price stability,” Fed Chair Janet Yellen said. Yellen also expects that the US economy will expand at a moderate pace over the next few years.

Though the US Federal Reserve made no changes in the key policy rates, it did signal that it could hike rates by the end of this year. It indicated that this rate could hike on grounds of improvement in labour market. The Fed also reduced longer-run interest rate forecast to 2.9% from 3%.

The next US Federal meet is scheduled to happen in November, a week before the elections. Analysts are of the opinion that Yellen will not hike rates close to the Election Day, and December is seen as the right time to hike rates like last year.

The statement on unchanged rates by the Federal Reserve was issued hours after Bank of Japan which is struggling to bring back its economy on track, announced a whole new monetary policy.

So, how does the Federal Reserve decision affect the Indian markets? India being a developing economy, will see a breakout. The Asian markets in their morning trade were trading in the green. Similarly, the US markets also traded high after the Fed announcement.

Economic conditions do warrant a gradual increase in key rates considering the investment fear across the world. Only if the monetary policy sees a couple of changes, the investor sentiment will see changes and further bring in progress to the economy.

On inflation, Janet Yellen said, “our inflation outlook also rests importantly on our judgment that longer-run inflation expectations remain reasonably well anchored. However, we can’t take the stability of longer-run inflation expectations for granted, and we will continue to carefully monitor actual and expected progress toward our inflation goal.”

Sources: http://www.thehindu.com/business/Economy/federal-reserve-keeps-key-rate-unchanged-but-hints-of-coming-hike/article9134712.ece

http://www.hindustantimes.com/business-news/us-federal-reserve-keeps-key-interest-rate-unchanged-for-lack-of-strength-in-economy/story-P5CyNATs8vvvwSPJHXejeM.html

http://economictimes.indiatimes.com/markets/stocks/news/top-five-takeaways-from-us-federal-reserve-meet-for-indian-markets/articleshow/54457111.cms

ICICI Prudential – New IPO on the block

It is raining IPOs in Indian market. Where BSE recently planned on its own IPO, ICICI Prudential Life Insurance kicked off its Rs 6,057 crore initial public offering on Monday, September 19. ICICI Prudential Life’s IPO is the first by an insurer in India and one of the biggest IPO in six years. The IPO is open for bidding till September 21 offered in a price band of Rs 300-334 per share.

On the first day of its offering, the stock was subscribed 16 per cent. The IPO gained subscription worth Rs 700 crore, received bids for 2,08,93,356 shares in comparison with the total issue size of 13,23,78,973 shares, according to the NSE data till 1700 hrs.

The public offer consists up to 18,13,41,058 equity shares of ICICI Prudential Life Insurance Company, including a reservation of 10 per cent of the offer for ICICI Bank shareholders. ICICI Prudential Life Insurance filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on July 18. Sebi later gave its nod for the IPO on September 2.

How do investors see the IPO?

There has been a lot mixed comments since the time the insurer announced the IPO. Kotak analysts expect ICICI Prudential Life to grow premium by 20% annually in the medium term, its return on embedded value will likely remain moderate at about 16%. On the other hand, Angel Broking has a neutral rating on this IPO.

Reliance Securities’ Ashutosh Mishra recommended investors to subscribe to the issue from a long-term perspective. He also said that when it comes to global perspective, it is an expensive offering.

When it comes to listed competitors, ICICI Prudential Life has none. HDFC Standard Life Insurance Company Ltd is as closest as it can get.

The actual status of the IPO will only be defined after September 21

 

Sources: http://www.firstpost.com/business/icici-prudential-lifes-rs-6057-cr-ipo-key-facts-you-need-to-know-3010452.html

http://www.livemint.com/Money/2CKBVABoWmsmfvOXdnoidM/ICICI-Prudentials-share-sale-price-expensive-say-analysts.html

http://www.moneycontrol.com/news/ipo-issues-open/icici-prus-mega-ipo-subscribed-16day-1_7478201.html

 

Legal trouble forPokémon Go

 

The augmented reality game, Pokémon Go that has been creating rage across the globe has landed itself into new trouble. A PIL has been filed in Gujarat High Court against the developers of the game, Niantic Inc.alleging that it hurts religious sentiments of communities by showing eggs at places of worship.

The PIL filed by Alay Anil Dave says that eggs are considered as non-vegetarian food and therefore it is considered profane to carry non vegetarian food inside a place of worship for Hindus and Jains.

Petitioner’s lawyer, Nachiket Dave addressed the media and said that people playing Pokémon Go get their points in the form of eggs and to find eggs in temples of Hindus and Jains is blasphemous, and therefore my client has sought ban on the game from the country.

Pokémon Go was unavailable for download in India, but the bandwagon spread like wildfire as soon as the game was launched earlier in July. The game can be accessed from an Indian phone by signing into an iTunes account of any country where the game has been released.

Despite this PIL, there is no ban on the game whatsoever. Even though the game saw millions of downloads in the early days of its launch, due to its availability being scarce, the game has seen sudden drop in usage.

It is just not India where Pokémon Go has seen lawsuits against it. A couple, Scott and Jayme Dodich of St. Clair Shores showed their discontent on how the game has allowed the public to encroach upon private property.

There have been many cases on how the game infringes the privacy. It also poses a threat of life to people who walk around just to score a point. This is an accumulation of concern after a lot of accidents took place when Pokémon Go released.

Do these lawsuits affect the makers of Pokémon Go in anyway? The PIL filed in Gujarat High Court just shows religious concerns and will obviously not affect the makers. But the rise of cases because of the loss of life and increases in accidents due to the games is a rising   concern.

 

Sources:

http://www.firstpost.com/india/the-butterfree-effect-how-pokemon-go-is-hurting-religious-sentiments-of-indians-2993992.html

http://www.ubergizmo.com/2016/08/class-action-lawsuit-pokemon-go/

http://www.bbc.com/news/world-asia-india-37294286

 

Local cable operators up their ante

Technology has its own set of boons. With mobile connectivity and internet availability in every nook and corner, television is now at our disposal on our smartphones. Consider on-demand services such as Voot, Hotstar, Eros Now and the eternal Netflix, watching television series on a proper television set with connections from local operators is practically dying.

Television has seen its evolution from huge boxes to LED screens, and so has the television connectivity. From local cables to set-top boxes to now digitisation taking a new turn with internet on-demand services. The emergence of set-top boxes took away subscriber from local cable operators. Now, on-demand internet services are taking away subscribers of set-top boxes away. Mobility indeed matter at the end of the day.

In order to fight this dropping subscription, local cable operators are now upping their game by launching on-demand services which will be disposable to subscribers on their smart phones. An India Ratings report says that a Mumbaibased operator, Asianet Satellite Communications Limited became the firstMultiple-System Operator (MSO) to launch an Over the Top (OTT)service called Asianet Mobile TV+ for streaming Malayalam shows among other regional TV channels. Following its suite are Hathway Cable & Datacom Ltd who ae said to launch their own OTT servicesvery soon.

“In light of competition from independent OTT content producers/aggregators (namely Netflix, Eros Now, Spuul) and broadcasters with OTT services (namely Ditto TV, Hot Star, Voot ) and the industry wide shift of consumers towards consuming digital content, traditional cable companies are setting up their own OTT services,” the India Ratings’ report said.

But how will this help cable operators altogether? The OTT services provided by the cable operators come in free or with a nominal annual fee. Comparatively not all on-demand services are accessible for free. For example, Netflix India which demands a subscription fee due to its popularity and original content.

On-demand services earn their revenue with advertising. How will the OTT services provided by cable operators earn revenues easily? Other question that arises is, most of the on-demand services have their own content to stream. How will local cable operators fight that? If they end up charging fee, will consumers subscribe to these services or as it is said, content will end up being the king, as always.