Wednesday, May 24, 2017

SONY AIMS TO POST AN OPERATING PROFIT OF 4.5 BILLION DOLARS

Japan electronic company, Sony has set a target for the current business year of logging its highest operating profit in two decades.
President and CEO Kazuo Hirai reported on the firm’s 3-year plan for fiscal 2015 to 2017.Kazuo  said Sony aims to post an operating profit of at least 500 billion yen, or 4.5 billion dollars, in the plan’s final year. He expressed confidence that the target will be achieved.
Hirai said the firm will focus on high value-added products in the TV business. It plans to increase sales of 4K ultra high-definition sets to more than 70 percent of its overall sales, up from 60 percent in the last fiscal year.
Sony also plans to emphasize high-profit sectors such as gaming and music.
Hirai ffurther added turning around the company’s film business may take time. The sector logged a loss of one billion dollars in fiscal 2016.
Hirai said the company is now strong enough to hit the targets. He said fiscal 2017 is an important year for achieving results

SALMAN ABEDI BLEW HIMSELF UP AT MANCHESTER

Theresa May
British police suspect a 22-year-old man carried out the bomb attack in Manchester that killed 22 people and injured 59.Britain raised its terror threat level to critical, meaning a new attack is believed to be imminent and soldiers are being deployed to assist armed police.
Greater Manchester Police confirmed earlier today [Tuesday], the perpetrator was Salman Ramadan Abedi, a 22-year-old who was born and brought up in Britain.
And as the emergency services have confirmed throughout the day, his victims were innocent children, young people and their families.
Our thoughts and prayers are with them all.
British PM May said,I have just chaired another meeting of Cobra, where we again discussed the callous and cowardly terrorist attack in Manchester last night, and the operational response from the security service, the police and other emergency services.
It remains the case that, other than the terrorist himself, 22 people were killed in the attack. Fifty-nine people remain injured, and many of them have life-threatening conditions.
Trains between Manchester Piccadilly and #ManchesterAirport are now running normally. as per Mcr city council tweets.
British Prime Minister Theresa May said that it is a possibility we cannot ignore that there is a wider group of individuals linked to this attack, after a suicide bomber killed 22 people, including children, at a pop concert late Monday in Manchester.
Addressing the nation from her Downing Street residence, May said armed police who would usually protect strategic points would be replaced by members of the armed forces under Operation Temperer.
The terror threat level was previously set at severe, which means an attack is highly likely. A critical level means an attack is expected imminently.
The police said on Tuesday that Salman Abedi blew himself up at Manchester Arena on Monday night after a concert by US singer Ariana Grande.
Local media say Abedi lived in southern Manchester and that he was born in Britain to parents who had emigrated from Libya.
Investigators have raided his purported home and another location. They detained a 23-year-old man for a suspected role in the bombing.
Local media are also reporting that the dead include an 8-year-old girl and teenagers. They also say 12 of the injured are under the age of 16.
The Islamic State militant group has issued a statement claiming its involvement in the attack.
Many people gathered in a square in central Manchester for a vigil on Tuesday evening.
Britain’s Prime Minister Theresa May has raised her nation’s threat level to the highest level after the deadly suicide attack in the city of Manchester.
May was speaking to reporters after a meeting of her government’s crisis response committee on Tuesday.
She said that on the basis of investigations, the thereat level should be increased for the time being from “severe” to “critical.” The level means another attack may be imminent.
The prime minister said the government is mobilizing military forces to patrol the streets and protect key sites.
Our hearts go out to those killed and wounded in Manchester. Americans will always stand shoulder to shoulder with the people of the UK.
It is the first time the threat level in Britain has been raised to critical since June of 2007

DUTERTE DECLARES MARTIAL LAW IN MINDANAO

Philippine President Rodrigo Duterte has placed the country’s southern island of Mindanao under martial law to put down local Muslim extremists fighting government security forces.
The group is linked to the Islamic State militants.
Duterte declared martial law on Tuesday evening for the entire island of Mindanao and some island groups in the region.
Fighting broke out earlier on Tuesday in Marawi City on Mindanao between security forces and an armed group called the Maute.
The Philippine military says at least 5 soldiers were wounded and that fighting is still under way.
It is the third time since the end of World War 2 that marital law has been imposed in the Philippines. The military will control designated areas for 60 days and will be allowed to detain suspects without warrants.
The Maute group, based in western Mindanao, has pledged allegiance to the Islamic State militants. Its dozens of members have coordinated with Abu Sayyaf, also allied with the Islamic State group, to carry out explosions and other anti-government attacks around the Philippines.
Duterte has repeatedly indicated that he would declare martial law to fight the militants. Opposition parties and others have objected, citing human rights concerns.

INDIA TO INVEST IN AFRICA

Prime Minister Modi said he will work with Japan to speed up investment in infrastructure and human resources development in Africa.
PM Mr Modi had inaugurated the 52nd Annual Meeting of African Development Bank (AfDB) at Gadhinagar in Gujarat yesterday. Prime Minister highlighted the strong ties between India and Africa and the infinite avenues of cooperation. He spoke on India-Africa links be it in energy, culture, education, IT and other areas which illustrate our dynamic and vibrant relationship.
Mr Modi also shared insights of how Government of India’s reform to transform approach is bringing desired results and positively impacting lives. Mr Modi said he had productive meetings with distinguished leaders who had joined the annual meetings.
Narendra Modi was speaking in the western state of Gujarat on Tuesday at the annual meeting of the African Development Bank.
Nearly about 3,000 financial representatives are attending from 54 African countries and other nations.
Modi said he has made Africa a top priority of India’s foreign and economic policy since taking office 3 years ago.
Many  businesses and immigrants have been successful in Africa. Some Japanese firms are trying to enter the market using Indian networks, while Indian firms hope to take in Japan’s technology.
The Japanese government last year unveiled a plan to invest about 3 trillion yen, or about 27 billion dollars, in Africa over the next 3 years.
Prime Minister Narendra Modi has said that strengthening relations with Africa has been a priority of NDA Government and his Government have achieved remarkable progress in it.
In a series of tweets yesterday, Prime Minister said, India-Africa economic ties are getting better and this is not confined to governments only, but the role of the private sector is also noteworthy.

PARK GEUN-HYE IN COURT FOR BRIBERY TRIAL

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Park was seen emerging from a Justice Ministry bus in handcuffs before being escorted into the Seoul courtroom by police. It was her first public appearance since she was jailed on March 31.
Presiding judge Kim Se-Yun asked her: “What is your occupation, the accused Park Geun-hye?”  Responded: “I don’t have any occupation.”
Park, who was the country’s first female president, has been charged with extortion, bribery and abuse of power, all in collaboration with longtime confidante Choi Soon-sil.
Prosecutors have accused her of colluding with Choi to take about $26 million (roughly 23 million euros) from the country’s largest companies through bribery. She also allegedly allowed her friend to manipulate state affairs from the shadows, despite Choi having no title or security clearance.
The 18 charges relate to policy favors Park offered to tycoons who bribed her friend of 40 years.
Park Young-soo, who led the special prosecutors who investigated the case, has said the proceedings will be “the trial of the century.”
Park faces more than 10 years in jail if convicted. The trial is expected to last for several months.
Former South Korean President Park Geun-hye has made her first appearance at her trial for receiving bribes, abuse of power and other charges. She has denied any wrongdoing and pleaded not guilty.
Park was indicted last month after being ousted from office in March.
She faces charges of conspiring with her longtime confidante, Choi Soon-sil, to receive bribes worth about 40 million dollars from Samsung Group, the country’s largest industrial conglomerate. This includes sums that were promised.
She is also accused of pressuring private companies to provide funds for two foundations closely associated with Choi.
Park’s trial began earlier this month.
At the start of Tuesday’s session, the presiding judge asked her occupation. Park replied that she was unemployed.
Park’s defense counsel denied all 18 charges brought against her. When the presiding judge sought Park’s response, she said her position is the same as that of her lawyer.
Asked if she had anything else to say, Park said she would speak later, suggesting she will claim her innocence in her own words.
Choi was also present at Tuesday’s trial. She too denied the charges brought against her, and asked the court to clarify the false accusations against Park. She said she does not believe the former president has committed a crime.
Also at the trial was the chairman of South Korea’s Lotte Group, Shin Dong-bin, who is charged with bribing Park. He denied the accusation.
Park is the third South Korean president to appear in court for a criminal trial on corruption, following Chun Doo-hwan and Roh Tae-woo.

DILJIT DOSANJH LAUNCHES SUPER SINGH’S SONG ‘KALLIYAN KULLIYAN’

Diljit Dosanjh launches Super Singh’s song ‘Kalliyan Kulliyan’ at the Dream Tour concert in Canada!
Popular actor-singer Diljit Dosanjh who will be seen playing a Punjabi superhero in Ekta Kapoor’s Balaji Motion Pictures and Pawan Gill’s Brat Films’ Super Singh has recently launched the foot-tapping song Kalliyan Kulliyan from the movie while performing at the Dream Tour concert in Canada!
Owning to the fabulous response of the audiences and fans at Dream Tour, superstar Diljit decided to launch the energetic song at the concert, as he is performing. This is one-of-its-kind launch for a Punjabi song where Diljit performed on the song exclusively for his fans even before it’s launched on the digital platform.
Says Diljit, “The turnout at the dream tour and the audience response is so overwhelming…I would like to thank my fans for all the love and launch this song for them at the concert.”
After launching the exclusive first look and movie poster of India’s first Punjabi language superhero film Super Singh, the makers recently unveiled the fascinating trailer of the movie which has caught the fancy of movie aficionados and several B-town stars who couldn’t stop praising it on their social networking sites.
Going by the fabulous response, the film is being embraced as a national superhero film, as they believe Punjabi cinema is definitely having its presence felt nationally and creating unheard demand from Diljit’s fans from across the world.
Produced by Ekta Kapoor’s Balaji Motion Pictures and Anurag Singh & Pawan Gill’s Brat Films, Super Singh is gearing up for summer release on June 16, 2017 worldwide!

INDIA BEAT NEPAL 90-44;

India beat Nepal 90-44; Complete historic five-peat of SABA Championships
  • India successfully defended their title and completed a historic five-peat as they beat Nepal 90-44. With this win, India ensured they were unbeaten (4-0) in the tournament.
  • Vishesh Bhriguvanshi was declared the ‘Player of the game’.
  • India have now qualified for the FIBA Asia Cup taking place in Lebanon from 8th-20th Augustthis year.
  • India has also ensured qualification for its top club team in the FIBA Asia Champions Cup – a tournament where the premier club teams of Asian countries go head to head.
Male/Bengaluru, 23nd May 2017: In the 5th South Asian Basketball Association (SABA) Championship underway in Maldives, India beat Nepal 90-44 to go unbeaten in the tournament and complete a historic five-peat of SABA championships.

INDIA BEAT NEPAL 90-44

Team India are all smiles after completing a five-peat of SABA Championships
Playing its fourth and final round robin encounter, defending champs India dominated Nepal 90-44 and earned yet another victory. India made the most of its size advantage against a smaller Nepal team and scored majority of its points in the paint while opening a 19-point lead in the very first quarter.
India’s veteran shooting guard Vishesh Bhriguvanshi continued his scoring spree as he tallied 22 points in the encounter. Shooting guard Anil Kumar BK also chipped in with 16 points off the bench. The second half of the game saw young players Jeevanatham Pandi, Muin Bek and Vishal Kumar Gupta get some valuable playing time. Pandi made the most of this opportunity by using his size to grab offensive rebounds and score 12 points for the team.
For Nepal, Ashim Shrestha was the leading scorer with 9 points as Nepal’s shooters struggled against India’s zone defence.
Vishesh Bhriguvanshi was declared player of the match.
India has now ensured qualification for itself and its top club team, in the upcoming FIBA Asia Cup in Lebanon from 8-20 August, and the FIBA Asia Champions Cup respectively.
India (Vishesh Bhriguvanshi 22, Anil Kumar BK 16) bt Nepal (Ashim Shrestha 9) 90-44 [25-06, 20-07, 26-13, 19-18]

About the SABA Championship 2017
Championship Format
The Championship is played in a round robin format and the team with the best record at the end of this championship will progress from the South Asian region to the FIBA Asia Cup scheduled for 17th to 27th August in Beirut, Lebanon. A round robin format is when each team will face every other team in the tournament once, and the final standings will be based on win/loss statistics.

INDIAN SQUAD FOR THE 5thSABA CHAMPIONSHIP 2017
Jersey
Number
Family Name/
Last Name
Given Name/
First Name
Place of BirthDate of Birth (dd/mm/yy)HeightPosition
5PariAkilan (c)ChennaiTamil Nadu20/07/1989180 (5’10.8”)PG
4HafeezMuin BekDharmapuriTamil Nadu16/03/1996190
(6’2”)
F
6SivakumarPrasanna VenkateshGobichettipalayamTamil Nadu25/09/1992186
(6’1”)
F
7Bukankere Krishne GowdaAnil KumarMandyaKarnataka31/07/1989185
(6’)
F
8SinghArjunVaranasiUttar Pradesh8/6/1992189
(6’2”)
SG
9BhriguvanshiVisheshVaranasiUttar Pradesh13/09/1991195
(6’4.5”)
SG
10 Amritpal SinghGanna PindPunjab05/01/1991207
(6’9.5”)
C
11GuptaVishal KumarChapar VillageDelhi07/12/1999198
(6’5”)
C
12BhardwajRaviChandigarhChandigarh

31/10/1992207
(6’9.5”)
C
13PandiJeevanathamVirudhunagarTamil Nadu13/10/1994204
(6’7”)
C
14 Yadwinder SinghRasulpur KhurdPunjab30/12/1986198
(6’6”)
PF
15PethaniRikinSajiavadar AmreliGujarat

02/12/1990203
(6’8”)
PF/C
*PG – Point Guard / Feeder, G – Guard, F – Forward, G/F – Wing, PF – Power Forward, C – Centre, PF/C – Post
Coaches: Sappaniambalam Baskar (Head Coach) and Sebastian Padipurakkal Joseph (Assistant Coach)
Manager: Sushil Kumar
Physiotherapist: Raj Kumar Dubey
FIBA Referee: Ceciline Michael Vino Vincent Francis Victor  
Previous Editions / Winners:
2016:  Bengaluru — 1st India, 2nd Bangladesh
2015:  Bengaluru — 1st India, 2nd Sri Lanka
2014:  Kathmandu — 1st India 2nd Bangladesh
2013 (June): Delhi — 1st India, 2nd Afghanistan. (From this edition onwards, the tournament changed from a standalone event to a qualifying Championship to the Asian level)
2013 (Jan):  Dhaka — 1st Bangladesh, 2nd Pakistan (India, Afghanistan and Sri Lanka did not participate)
2012:  Assam — 1st India, 2nd Bangladesh

SONALIKA ITL’S ANNUAL REVENUE GROWS BY 17%, A REMARKABLE 4268 CRORES

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Highest ever sales of 81531 tractor units
Registering growth more than industry, increased market share from 11.9% to 12.3%
Company has increased its manufacturing capacity to 3 lakhs per annum with the onset of its new plant

New Delhi, 23 May 2017: India’s youngest and the third largest tractor brand, Sonalika International Tractors Ltd, witnessed a remarkable performance in FY 16-17. The annual revenue of the company significantly grew up by 17% i.e. 4268 crores. The company recorded its highest ever sales of 81531 tractor units resulting in the upsurge of annual profit by 22%. Year 2016-17 has been exceptionally successful for Sonalika ITL, where it set multiple benchmarks in the industry and strengthened its position by registering growth more than the industry and increased market share from 11.9% to 12.3%. Sonalika has the world’s No 1 integrated tractor manufacturing plant in Hoshiarpur, Punjab which was inaugurated by Hon. Chief Minister, Captain Amarinder Singh on 8th May 2017.

With a fresh investment of Rs. 800 crores, Sonalika’s World No. 1 integrated tractor manufacturing plant has now spread across a massive area of more than 85 acres. The plant is equipped to cater to ever growing demands of customers across the globe. Technically upgraded to roll out a tractor every two minutes, Sonalika ITL’s integrated manufacturing plant manufactures 3 lakh tractors annually. Producing international quality tractors catering to 80 countries across the globe, this plant endeavors to bring top-of-the-line exceptional products to Indian farmers as well.

Sharing the company’s annual performance, Raman Mittal, Executive Director Sonalika ITL says, “FY16-17 has been remarkably successful for us. Our passion for growth, focused strategy to offer world class products to our customers and trust of our partners in both domestic and International markets has helped boost our morale for the future. Sales growth by 22% in the first month itself of FY18 has further charged us to strive for higher growth as we have the strength of having the largest plant, world-class products  and a very passionate team. With positive industry trends, we believe Sonalika is all geared up to strengthen its position both in domestic and global markets.

Sonalika has presence in over 80 countries and is increasing its global footprints day by day. In FY16-17 Sonalika was the 2nd largest tractor exporter and through continued efforts it has increased its customer base from 6 lakhs to 7 lakhs. Yanmar, a Japanese 7 billion USD major corporation has shown confidence looking at the World’s No. 1 plant and is now planning to manufacture its next generation tractors in India which will be sold globally. Yanmar has product portfolio of paddy special and light weight tractors while Sonalika ITL has robust heavy duty tractor range. Together, both the companies now have the most diverse product portfolio and we are looking at growing exponentially and offering complete farming solutions globally.

About Sonalika International Tractors Ltd.
Sonalika International tractors Ltd. is the youngest and the 3rd largest tractor maker in India. Its world’s number one integrated tractor manufacturing plant at Hoshiarpur has a capacity to produce 3 lakh units per annum. The company produces technologically superior tractors in a range from 20HP to 120HP and is recognized in both domestic as well as international markets as a formidable player. The company has earned the trust of over 7 lakhs customers in more than 80 countries in just 2 decades which is a remarkable feat. Sonalika ITL has been recently felicitated by The Economic Times publication as ‘The Iconic Brand of India’. For more information visit- http://www.sonalika.com/pages/index.html

ACHIEVEMENTS OF STEEL MINISTRY DURING 3 YEARS OF NDA GOVERNMENT

Steel Minister Chaudhary Birender Singh Addresses Press Conference on Achievements of His Ministry during 3 Years of NDA Government 
SAIL & Arcelor Mittal would soon formalize the Joint Venture for production of automotive-grade steel: Shri Birender Singh 
New Delhi, May 23, 2017
Jyaistha 02, Saka 1939

The Union Steel Minister Chaudhary Birender Singh addressed a press conference on achievements of the Steel Ministry during 3 Years of NDA Government in New Delhi today. He said that the Indian steel industry is at the cusp of another significant milestone by becoming the second largest stainless steel producer in the world, leaving behind Japan.

Chaudhary Birender Singh said that the steel sector is only an example of all-round development in India under PM Modi ji’s leadership.On 3rd May this year the Cabinet under Prime Minister Modi approved two policies of the steel ministry and we are working on their implementation. We are very confident that steel sector will become more vibrant and dynamic after the ‘National Steel Policy 2017’and ‘Policy for preference to domestically manufactured iron & steel products in government procurement’ becomes effective. The roadmap to implement the new policies will be finalized in the next six months to one year.

He described the last three years journey of steel industry as:
नज़र को बदलो, तो नज़ारे बदल जाते हैं,
सोच को बदलो, तो सितारे बदल जाते हैं,
कश्तियाँ बदलने की ज़रुरत नहीं,
दिशा को बदलो, तो किनारे बदल जाते हैं |
Speaking of the SPU REVIVAL, he said that the three Steel Processing Units, Jagdishpur in UP, Bettiah in Bihar and Kangra in Himachal Pradesh are going to be operationalized within the next one year. This involves an investment of Rs. 500 crores. These units will produce value-added products like crash barriers, black pipes, TMT bars or GC sheets. Special Purpose Vehicle Route has been adopted by the Government of India for creation of Greenfield steel capacity in May 2015. The Process for the same was initiated in four states of Chhattisgarh, Odisha, Jharkhand and Karnataka.

Talking of Zero Waste Production, the Steel Minister said that a 120 MW power plant was inaugurated in April 2017 at RINL Vishakhapatnam using the waste gases of the steel plant. The Huge Fine dumps, waste slag, slime etc. from steel plants need to be utilized by using innovative techniques for Pelletisation of fines, slag-cement for slag towards a Clean & Green Steel Sector in India. The Ministry of Steel & UNDP have worked for energy conservation in 300 secondary steel units. Plans are to upscale to 1000 secondary steel units. This would reduce CO2 emissions, roughly equal to taking all passenger cars off Delhi’s roads, Chaudhary Singh added.

Shri Birender Singh said that Steel industry needs to go for a paradigm shift and move from semi-finished/crude steel to value-added steel. This will lead to better margins and improve competitiveness. “We are hopeful that SAIL & Arcelor Mittal would soon formalize the Joint Venture for production of automotive-grade steel. This will be a big step-forward under the Prime Minister’s Make in India Programme” Shri Singh added.

Enlisting new Schemes for Secondary Steel Producers in 2017-18, he said that the steel ministry will rate the ranking of Top-50 Secondary Steel/Smart Producers and awards will for best performing plants in secondary steel sector solely on the criterion of their products of BIS standards and cost effectiveness.

The Minister also announced the institution of Best Steel Structures Awards for best steel structures in PMAY (Rural and Urban),building projects, and roads made with steel reinforced cement concrete and other extraordinary structures using steel in abundance.

Chaudhary Birender Singh said that the GST regime is good for Steel Team as Goods & Services Tax Rates and Slabs for raw materials like iron ore, manganese, coal etc. is in the bracket of 5 %. Semi-finished and unfinished goods is in 18 % bracket. Steel industry will see a reduction in the input cost for steel making with the GST implementation.

The Minister of State in the Ministry of Steel Shri Vishnu Deo Sai, Dr. Aruna Sharma, Secretary Steel, and Senior Officials from the Ministry & the Steel PSUs were present on the occasion.

Pursuing a clear agenda of growth, the Ministry of Steel has had many firsts to its credit. In the year 2015, India became the third largest producer of steel in the world. Recent data shows that India is now looking at positioning itself as the second largest in the very near future.

In the last three years, there has been capacity addition at a steady CAGR of about 7%. There has also been an improvement in the overall capacity utilization.

India has emerged as a net exporter of steel in the year 2016-17, with 97% increase in overall exports and a 37% decline in imports of steel products over the same period in the previous year.
First time in the history of Steel making in India, the world witnessed a massive demand –supply gap post 2014. Overcapacity of 700 to 800 MTPA resulted in sudden fall in the global steel prices.
Aftermath of the increased imports was evident from the declining domestic steel prices, poor cash flows and the debt serviceability of the major steel producers in the country.
Indian Government protected the interests of domestic producers by notifying trade remedial measures like Minimum Import Price, Anti-Dumping Duty and Safeguard Duty.
The government also eased out financial re-structuring norms through RBI and Ministry of Finance.
In addition to these, many steps have also been taken to reduce input cost, replace imports & enhance domestic consumption. The government is also working to improve the domestic availability of iron ore, coking coal and natural gas.
The government’s focus on strengthening the steel sector inter-alia has been on ensuring
  • Ease of doing business
  • Developing New Products
  • Tackling over Capacity & Imports
  • Sustainable production of Steel
  • Ensuring affordable Raw Material Supply
  • Sustainable production of Steel
  • And demand generation
The Government has populated the three-year timeline with numerous initiatives that comprise steps like increase in Basic Custom Duty, notification of Quality Control Order for steel and steel products, policy on DMISP, National Steel Policy etc.

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