INDIA

55 ministries to spend 10% of their budget for improving logistics Infrastructure in North East

The union minister mentioned that the PM GATISHAKTI would ensure world class seamless multimodal connectivity providing complete information on resources, manpower and infrastructure projects in the northeast. He further elaborated that this would bring down cost overruns for the infrastructure project being implemented which would track timely implementation.

Revenue Department stance can't be contrary to its own circular, says Supreme Court

A bench led by Justice Surya Kant made these observations while deciding the tax department's appeal against a 2017 order of the Customs, Excise and Service Tax Appellate Tribunal, Chandigarh that set aside a show cause notice issued to Merino Panel Product.

Lakhimpur Kheri case: Charges framed against Ashish Mishra, 13 others

Mishra was granted bail by the high court in February, on the day Uttar Pradesh voted in the first phase of the assembly election, and he was subsequently released. However, a bench of the Supreme Court, led by the Chief Justice of India NV Ramana in April cancelled his bail and also indicted the high court for “hurrying” in granting relief to him.

Can liberty be deprived due to nationality, SC asks agencies

The Supreme Court on Tuesday asked government agencies whether Christian Michel James - an alleged middleman in a now-scrapped '3,600-crore air force deal for helicopters - could be kept behind bars merely because he was a "foreign national".

International

Belsonic 2023: French DJ David Guetta is set to return for headline show in Belfast’s Ormeau Park. When and where to get tickets

French DJ and music producer David Guetta is reportedly gearing up for the most awaited event, Belsonic 2023.

FIFA World cup 2022: Final whistle has blown on Qatar's Stadium 974

Stadium 974 will be dismantled, and the stadium went for good post-World Cup, built with 974 containers.

Why did James Cameron take so long to complete 'Avatar: The Way of Water'?

James Cameron's much-awaited sequel to Avatar is finally here, 13 years after the release of the original. Cameron created advanced tech for filming the 'Avatar: The Way of Water' and hunting for real-life locations.

92 per cent of Moroccan women tangled in housework compared to 24 per cent of men, claims report

According to Morocco’s High Commissioner for Planning, in Morocco, 92 per cent of women do housework compared to 24 per cent of men. However, 87 per cent of men and 85 per cent of women are content with the unequal allocation of family chores.

Entertainment

FIFA fever in India: First 19 matches and 31 million hooked to their televisions

Sports management company ITW Universe cofounder Bhairav Shanth said the tournament has performed well on TV with a lot of casual fans and first timers tuning in. "Sports18 seems to have done quite well as far as FIFA WC has garnered TRPs of 0.5-0.7 in the first week and a cumulative audience of 130 million over the games in the first six days of the competition," he said.

Broadcasters reach out to govt on airing public service content

One of the clauses stipulate that broadcasters will have to air 30 minutes of content of national importance every day on socially relevant themes.

Dish TV appoints 3 independent directors, to convene AGM on Dec 29

During the AGM, Dish TV would seek approval of shareholders for the appointments of three new independent directors - Sunil Kumar Gupta, Madan Mohanlal Verma and Gaurav Gupta.

Eros Media World, Arabia Pictures announce collaboration to produce three films

According to a media release issued on behalf of Eros Media World, the agreement includes the remake of a 2012 Bollywood box office hit, which will go on floors by mid of 2023. The other two films will start production by the end of next year. Abdulelah Alahmary, CEO of Arabia Pictures, said the team is thrilled to collaborate with ErosMedia in bringing captivating and family-orientated stories to the MENA (Middle East and North Africa) region.

Teachnology

Why blaming China in the AIIMS ransomware attack exposes India’s shoddy cybersecurity preparedness

The attack that crippled AIIMS is the latest in a long list of major cybersecurity incidents in India. Inexplicably, India's government still refuses to learn key lessons and raise the level of the country’s cybersecurity preparedness. Moreover, the National Cyber Security Strategy 2021, which should help the country deal with such attacks, has been stuck for years.

Why top BharatPe executives are leaving the fintech unicorn to start their own ventures

Four exhilarating years, a steady increase in valuation and ESOPs mean the inevitable shift of a bunch of early leaders. The company’s decision to soft-pedal some of the ambitious high-growth projects in a tough fundraising environment leaves many of them at a crossroads.

China renews focus on data security amid heightened geopolitical tension with the West

Owing to an alarming increase in cybercrimes, China aims to regulate its poorly guarded storehouses of information, with the focus on ‘key information infrastructure’ in fields like finance, energy, communications, and transport. Even industry experts say it is high time that China shored up its data security apparatus.

Will Twitter 2.0 resonate with brands, users in India? A lot depends on how it keeps its house safe.

It's been a tumultuous month since billionaire entrepreneur Elon Musk took over Twitter, the century’s very own digital town square. Brands in India are closely watching how Twitter creates and expands a sticky user base, removes fake accounts, starts an authentic subscription plan with new features to attract users.

Traveling

Festive Getaway Alert

Desi travellers keen to give medical info for Covid alerts

Most travellers want to share info to get customised alerts on the locations they are visiting.

Celeriac shawarma at Noma in Copenhagen or purple polenta at Sydney's Quay: Top 5 vegetarian dishes around the world

Don't forget to give these unique vegetarian dishes a try.

Rock n roll, swoop & dive: Have the time of your life at Yas Island Abu Dhabi

Even without Ranveer Singh, you can plan an adventurous trip at Yas Island.

Small Biz

MSMEs must strive to increase production, output and per capita income with Walmart’s expertise: Narayan Rane

The minister emphasised that production quality by the MSME sector should be on par with international standards and excellence.

High inflation, weak demand expected to pull down economic growth to 4.0%-4.5% in 2HFY23

Given that Saudi Arabia is a key beneficiary of the current oil price boom, India’s GDP growth is indeed a shining spot across the globe.

GST amnesty scheme: Why taxpayers need an opportunity to correct inadvertent errors

In the initial years, people struggled in understanding the impact of the new regime on their businesses, getting their internal systems revamped and training personnel to undertake the requisite compliances.

Govt taking steps to make Indian MSMEs stronger, globally competitive: Minister

Bhanu Pratap Singh Verma also said that the MSME ministry is setting up various technology centres across the country to support and strengthen the existing and new MSMEs.

Markets

Here’s where to invest, based on yield-curve implications for the economy and the markets

The shape of a yield curve has a strong track record for predicting future economic behaviour. It has economic and market implications, with an inverted yield curve having been a precursor of recessions on many occasions. So, what are the trends it foretells for the markets as of now and what are investors to make of it?

Varun Beverages outshines HUL, returns 100% in one year. Can it sustain the momentum ahead?

Investors see Varun Beverages’ diversified portfolio of products as a good proxy for the consumption play. After a massive rally, the stock is now fairly valued, trading at 60x PE. Major brokerages are confident about the company as a long-term bet. While Varun Beverages is on a growth path, it is yet to become a quality stock.

Nykaa bonus issue: A financial masterstroke or a corporate-governance nightmare?

To curb selloff by pre-IPO investors at the end of the lock-in period, Nykaa announced a bonus issue with a record date of November 3. It later moved it to November 11. While this led to pre-IPO investors able to sell only one/sixth of the shares and helped Nykaa avert a bigger fall, questions on ethics are being raised.

Is there a deep value in low PE stocks? Things to keep in mind before investing.

Deep value investing is all about buying stocks dirt cheap to get super-normal returns. The strategy is raring its head as small companies go through big changes. There are investors who have made money following it, but is the return broad-based? ET Prime does a deep dive to see if there’s a 'sweet PE' number that guarantees highest returns.

Automibile

IPO-bound Landmark Cars expects to double revenue in two years

The retailer of premium vehicles of automakers Mercedes Benz, Volkswagen, Honda and Fiat Chrysler in India is targeting notional revenue of more than Rs 7,000 crore in FY24, which would translate into a profit of Rs 150-170 crore, the people cited earlier told ET.

Toyota Kirloskar to recall around 1,000 units of Urban Cruiser Hyryder

​The automaker announced in a statement that there will be a voluntary recall campaign for 994 Urban Cruiser Hyryder units to investigate for a possible issue with front seat belt shoulder height adjuster plate assembly.

Maruti Suzuki to recall 9,125 vehicles to fix possible defects in seat belts

Maruti Suzuki India will be recalling 9,125 units of its models Ciaz, Brezza, Ertiga, XL6 and Grand Vitara to fix possible defects in a part of the front row seat belts. The affected vehicles were manufactured between November 2-28, 2022, the company said in a stock exchange filing.

Rural, women and young two wheeler borrowers on the rise: Report

Two wheeler loans rose 13.5 percent from FY21 to FY22 and 8 percent from June 2021 to June 2022.

Asnlive Headlines

Sports

Eight teams remain in the 2022 FIFA World Cup as blockbuster tournament nears end

Almost 30 goals have been scored in the round of 16 at this year's World Cup in Qatar, all signs point to a blockbuster quarterfinal stage yet to be played in the following days. Morocco, Brazil, Croatia, Netherlands, France, Argentina, Portugal and England are the last eight teams left standing as the four quarterfinals start on December 9. [Read More]

Indian women’s team without coach 2 months before T20 World Cup, BCCI transfer Ramesh Powar to NCA

India were the runners-up of the last edition of the World Cup in 2020 that was played at the Melbourne Cricket Ground (MCG) in front of a record 86,174 spectators — largest for an ICC T20 World Cup final, including both the men’s and the women’s event. [Read More]

Morocco shock Spain to seal last eight spot in 2022 FIFA World Cup

​Luis Enrique's side were stifled by a spirited Moroccan side that came into the game fully prepared to take the game to the Spaniards. The second RO16 match to go to penalties this tournament, the tightly contested affair saw Carlos Soler, Sergio Busquets and Pablo Sarabia miss penalties for La Roja. [Read More]

MHA nod for visa to 34 Pakistan players, officials of blind cricket team

The home ministry has given clearance for issuance of visa to 34 Pakistani players and officials to take part in the Blind Cricket World Cup, a ministry official said.[Read More]

Defence

Russia and Ukraine swap 60 POWs each in latest exchange

Russia's defence ministry said the 60 freed Russian soldiers would be flown to Moscow to receive medical care and psychological support.[Read More]

Union home secretary reviews J&K security

The meeting was attended by other senior officials of the ministry, paramilitary forces, the Jammu and Kashmir administration and police. There have been reports of panic among the Kashmiri Pandits working in the valley after the Terrorist Resistance Front (TRF), a terrorist group, released a “hit list” that included 56 people from among them.[Read More]

China blasts US report, reiterates 'no 1st use' nuke policy

The Pentagon last week released an annual China security report that warned Beijing would likely have 1,500 nuclear warheads by 2035, and that it has provided no clarity on how it plans to use them.[Read More]

Ukraine withstood the Russians in 2022. Can it drive them out in 2023?

Russia says it launched its "special military operation" to protect its security from Western encroachment. Ukrainians, who heard President Vladimir Putin proclaim their national identity a fraud and their land as wrongly stripped from Russia, view the war as an existential struggle - both national and personal.[Read More]
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