Residential property registration jumps 2-fold in Dec in Mumbai: Report

 

The registration of residential properties in Mumbai jumped over two-folds this month at 18,854 units compared with November on account of reduction in stamp duty, according to Knight Frank India.

The registration of residential properties in Mumbai jumped over two-folds this month at 18,854 units compared with November on account of reduction in stamp duty by the Maharashtra government, according to Knight Frank India.

In November, total registration stood at 9,301 units. The registration in December 2019 stood at 6,433 units, the consultant said.

"Mumbai recorded a historic surge in home sales registrations in the month of December 2020. Total sales registered till December 30, 2020 for the month of December is recorded at 18,854 units," Knight Frank said in a statement.

Shishir Baijal, Chairman & Managing Director, Knight Frank India said, "The reduction in stamp duty has led to a significant surge in sales of homes in Maharashtra, particularly in Mumbai, comforting the long -beleaguered real estate sector of this region."

A combination of the lowest home loan rates, reduced prices along with rebates and offers made by developers, as well as increased household saving rates, have provided the right growth environment for the residential segment to grow, he said.

"This positive sales momentum is crucial for the developers, who were facing severe liquidity challenges as well as below par valuations for their projects, making it tough for them to raise capital," Baijal said.

Total revenue earned by the state exchequer in 2020 from home registration isestimated at Rs 3,107 crore, of which nearly 43 per cent (Rs 1,350 crore)is for the period between September 1 December 30, 2020.

"Since the announcement of the reduction of 300 basis points (BPS) starting September 01, 2020 homes sales have continuously risen month on month," Knight Frank said.

 

PhonePe reports 7% decline in net losses for FY20, revenue rises 74%

 

PhonePe is currently valued at $5.5 billion from existing Flipkart investors led by Walmart with the e-commerce player holding majority shares in the company.

Walmart-owned digital payments firm PhonePe has posted a 7 per cent decline in its net loss for FY20 at Rs 1,771 crore, as compared to the previous financial year. This is the first time the platform has reported a decline in net loss since it was launched in 2015.

According to data accessed by business intelligence platform Tofler, the firm reported a 74 per cent rise in revenue at Rs 427 core for FY20, as compared with Rs 245 crore in FY19. It’s expenses, however, were slightly up by 2 per cent to Rs 2,202 crore in FY20, as compared to FY19.

PhonePe, which competes with technology giants such as Patym and Google Pay in the digital payments space, has ambitions to go public by 2023 for which Flipkart announced a partial spin-off of PhonePe to help it access dedicated, long-term capital to fund its growth ambitions.

Earlier in December, PhonePe raised $700 million in primary capital from existing Flipkart investors, including Tiger Global. The funding would help it to compete with rivals and help the company to hire 700 people, expand financial services and build solutions for small and medium businesses.

PhonePe is currently valued at $5.5 billion from existing Flipkart investors led by Walmart with the e-commerce player holding majority shares in the company.

While the company crossed the 250 million registered user milestone, it reported over 100 million monthly active users (MAU) and 2.3 billion app sessions in October 2020.

New Year's Day to Christmas, check out the full list of bank holidays 2021

 

Except in Chennai, Aizawl, Gangtok, Imphal, and Shillong, the banks will remain open across all other major cities of India on 1 January 2021.

The Reserve Bank of India (RBI) has updated its calendar for the year 2021 and declared 16 bank holidays in all for the month of January.
Except in Chennai, Aizawl, Gangtok, Imphal, and Shillong, the banks will remain open in all other major cities of India on January 1, 2021.

Among the 16 holidays, four Sundays along with the second and fourth Saturdays are included. Banks would also remain closed on Republic Day, the only national holiday for the month of January.

On January 2, Aizawl banks to get another holiday for New Year celebrations. Similarly, on January 12, Kolkata banks to remain closed over Swami Vivekananda's birthday.

To celebrate Makar Sankranti on January 14, banks in Ahmedabad, Gangtok, Chennai, Bengaluru and Hyderabad will remain shut.

From January 15-17, banks in Chennai will remain closed on account of various holidays. In Hyderabad, banks will remain closed on anuary 15 for Thiruvalluvar Day, Magh Bihu, and Tusu Puja celebrations.

To celebrate the birthday of Guru Govind Singh on January 20, banks in Chandigarh will remain closed.

On January 25, Imphal will observe a bank holiday to celebrate the Manipuri religious festival of Imoinu Iratpa. Gaan-Ngai, a festival of the Zeliangrong people of Assam, Manipur, and Nagaland, falls on the same day as Republic Day, i.e January 26 and thus, banks will remain closed.

 

IndiGo says servers hacked in Dec; docs may get uploaded publicly

 

IndiGo airlines said that some of its servers were hacked earlier in the month of December and hackers might upload some internal documents on public platforms

IndiGo airlines on Thursday said that some of its servers were hacked earlier in the month of December and hackers might upload some internal documents on public platforms.

"We would like to make this disclosure that some of our servers were subject to a hacking incident earlier this month. We were able to restore our systems in a very short span of time with minimal impact," said the airlines in an official statement.

Airlines said that there were some segments of data servers that were breached, and therefore "there is a possibility that some internal documents of the company may get uploaded by the hackers on public websites and platforms."

"We realise the seriousness of the issue, and are continuing to engage with all relevant experts and law enforcement to ensure that the incident is investigated in detail," it added.

Ford Motor pulls the plug on plans to cede India business to Mahindra

 

Ford took a $799 million impairment charge in 2019 in anticipation of the asset transfer to Mahindra to account for what it called fair value less cost to sell.

Ford Motor Co. is reversing plans to cede most of its Indian operations to Mahindra & Mahindra Ltd., deciding to pull out of a proposed joint venture and continue its standalone business in the country.

The companies agreed to terminate the venture after reassessing in part due to the global coronavirus pandemic, they said Thursday. The decision ends a deal reached more than a year ago under which Ford was expected to fold its local operations, including two factories, into a JV that would be majority-controlled by Mahindra, a leading Indian manufacturer of sport utility vehicles.

The future of Ford’s business in India is unclear as it has struggled for more than two decades to grow in the world’s fourth-largest auto market. “The company is actively evaluating its businesses around the world, including in India,” Ford said a statement.

The U.S. carmaker took a $799 million impairment charge in 2019 in anticipation of the asset transfer to Mahindra to account for what it called “fair value less cost to sell.” A spokesman said Thursday the termination of the deal won’t affect that valuation.

“There will be no impact on the impairment that we recorded previously,” said T.R. Reid, the spokesman.

The automakers had said they would cooperate to develop an electric car for emerging markets and work together to introduce three new models to be sold under the Ford brand in India, starting with a midsize SUV.

 

Bitcoin price tops $29,000 for first time ever, extending 2020 rally

 

The price of Bitcoin topped $29,000 on Thursday for the first time, with the digital currency almost quadrupling in value this year amid heightened interest from investors big and small alike

The price of Bitcoin topped $29,000 on Thursday for the first time, with the digital currency almost quadrupling in value this year amid heightened interest from investors big and small alike.
The world's most popular cryptocurrency touched $29,300 before pulling back, most recently down 0.67% at $28,774.36. It has surged by nearly half since breaking $20,000 for the first time on Dec. 16.

Bitcoin's potential for quick gains, as well as expectations it could become a mainstream payment method, has attracted demand from larger U.S. investors, as well as from traders who normally stick to equities.

"You can buy a stock like Amazon, you can buy a stock like Apple, and you know what you got," said Dennis Dick, a proprietary trader at Bright Trading LLC. "Bitcoin you really just have digits on a screen and you're really hoping that the guy behind you sees it as being worth more than what you just paid for it, so it's a purely speculative view," he said.

Still, intrigued by the story behind bitcoin and the traction it was getting with institutional investors, he put 1% of his net worth into a bitcoin fund around five weeks ago, which has doubled in value since then, and he sold half on Thursday.

"When you double your money within five weeks, if you sell half of it, I figure now you're playing with the house's money," he said.

Recent gains have taken bitcoin's market capitalization past $536 billion, according to industry website CoinMarketCap https://coinmarketcap.com.

 

With RBI harping on increased supervision, frauds decline in banking system

 

The recent collapse of PMC Bank due to fraud and deficient corporate governance "has dented public confidence in UCBs"

With the Reserve Bank of India (RBI) harping on increased supervision, frauds in the banking system have come down, the data shows. But “operational risk has emerged as a major source of risk.”
According to the Trends and Progress Report of the RBI, 98 per cent of frauds in terms of value were related to loans, and their occurrence was spread over several previous years.

“There was a concentration of large-value frauds, with the top fifty credit-related frauds constituting 76 per cent of the total amount reported as frauds during 2019-20.”

Further, “the banking relationship and date of sanction of credit facility in many of these accounts were much older,” the RBI said. Around 80 per cent of the frauds were reported by public sector banks, but their share in total reporting declined in 2019-20.

However, urban cooperative banks (UCBs) are seeing a rise in frauds. The recent collapse of PMC Bank due to fraud and deficient corporate governance “has dented public confidence in UCBs”, the RBI said.

Commodity markets to end 2020 on strong note with vaccine, stimulus news

 

Global commodity markets are poised to end 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the coronavirus pandemic.

By Naveen Thukral and Gavin Maguire

SINGAPORE (Reuters) - Global commodity markets are poised to end 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic.

Roll-outs of vaccines to combat the virus and trillions of dollars' worth of fiscal support are expected to boost investment and spending in 2021.

"It's been a tumultuous year for the commodity market, as the oil meltdown in March changed how we measure and gauge risk in the entire commodity sphere," Stephen Innes, chief global market strategist at brokerage Axi, told Reuters.

Graphic: Price chart of key commodities markets in 2020 https://fingfx.thomsonreuters.com/gfx/ce/jbyvrbdrave/KeyCommds2020.png

"But thanks to the Fed's unwavering support to dig the U.S. and global economy out of a hole," commodity markets have flourished, he added.

Dalian iron ore futures and silver are up around 50% in 2020, leading the gains in commodity futures.

 

 

UCBs' asset quality and finances deteriorate in FY20, says RBI report

 

The rise in NPAs may partly be attributable to stagnant growth in loans and advances and weak balance sheets

The financial and asset quality profile of urban co-operative banks (USBs) deteriorated in the financial year 2019-20 (FY20), with the sector reporting net loss, an uptick in bad loans, and a fall in the provision coverage ratio.
Gross non-performing assets (NPAs) rose from 7.3 per cent in 2018-19 to 10.8 per cent in FY20. In absolute terms, NPAs worth Rs 10,900 crore were added, taking the tally to Rs 33,010 crore by March 2020.

The rise in NPAs may partly be attributable to stagnant growth in loans and advances and weak balance sheets, according to the Reserve Bank of India’s (RBI’s) Trends and Progress of Banking in India report.

Historically, UCBs have had a higher level of NPAs than scheduled commercial banks (SCBs). Since 2015-16, however, this position reversed, with the asset quality review resulting in greater NPA recognition in SCBs, while the asset impairment of UCBs inched up gradually over time.

In 2019-20, the GNPA ratio of UCBs again surpassed that of SCBs. The change was driven by improvement in the asset quality of SCBs for two consecutive years while the slippages of UCBs increased.

SCBs as group showed GNPA of 9.1 per cent in March 2019 and 8.2 per cent in March 2020.

While both gross NPAs and provisioning increased during 2019-20, the growth in provisions was not fully commensurate with the growth in the former, resulting in an increase in the net NPA ratio.

 

India faced 2 of 10 most costly climate disasters, damage worth over $10 bn

 

India is among the countries that are most vulnerable to the fallouts of climate change, and in 2020 it was hit by several extreme weather events.

Amphan, the super cyclone that hit India in May, and the floods that affected many parts of the country between June and October rank among the 10 most "expensive" extreme climate events the world saw in 2020, as per a recently released study. Put together, these 10 events caused damages of over Rs 10 lakh crore ($141 billion), 322 times higher than the annual budget of India's environment ministry.

Amphan, one of the strongest storms on record in the Bay of Bengal, with sustained wind speeds of 270 km per hour, hit both India and Bangladesh. The destruction caused by this cyclone cost both the countries--and Sri Lanka--around Rs 95,386 crore ($13 billion) in losses. The cyclone ranked fourth in the 2020 global list of climate disasters that resulted in widespread financial damages. Floods cost India around Rs 73,374 crore ($10 billion), and ranked fifth in the list.

The list is compiled by Christian Aid, a United Kingdom-based non-profit, and published in a report, 'Counting the cost 2020: A year of climate breakdown', launched on December 28.

India is among the countries that are most vulnerable to the fallouts of climate change, and in 2020 it was hit by several extreme weather events that are set to multiply in the future. And its poor are at most risk.

The Christian Aid report tracks 15 of the most destructive climate disasters of the year. Most of these estimates are based only on insured losses, and this means that the true financial costs would be higher. Together these climate disasters killed at least 3,471 people while displacing nearly 14 million.

 

 

Asian shares set to end 2020 at record high, riskier currencies in favour

 

Asian shares edged up and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies

By Alun John and Koh Gui Qing

HONG KONG/NEW YORK (Reuters) - Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies.

MSCI's gauge of Asia-Pacific shares excluding Japan rose 0.1% to its latest peak, having explored fresh territory repeatedly late in the year. But year-end trading was typically thin.

The index is set for a fourth-quarter gain of over 19%, which would be its strongest three-month performance since 2009, and a yearly rise just shy of 20%, which would be its highest since 2017.

"A lot of the rise in the second part of the quarter is because the political risk evaporated," said Kerry Craig, Global Market Strategist, J.P. Morgan Asset Management, citing the U.S. election, hopes for an easing in U.S. China trade tensions and the Brexit deal.

Looking to 2021, Craig said investors were trying to balance the potential for rising inflation against a likely economic recovery, and assess whether that rebound might be impeded early in the year by new strains of COVID-19 and struggles with rolling out vaccines.

Chinese blue chips rose 1.45% on Thursday after official data showed that activity in China's service and factory sector expanded in December, albeit both at a slower pace than the previous month. The Hong Kong benchmark also rose 0.26%.

2021 will be one of the most product intense years: Mercedes-Benz India

 

The luxury car maker says its third quarter sales are back at pre-Covid levels

Luxury car maker Mercedes-Benz has said that its third quarter sales were at pre-Covid levels. To accelerate growth in 2021, the company plans to launch around ten models and 2021 will be one of the most product intense years.
Mercedes-Benz India sold 5,007 units during January to September 2020 period as compared to 9,915 units during the same period last year. During the festive period of Navratri & Dussehra Mercedes-Benz India delivered a record 550 cars and the company says considering the challenges faced this year, 2020 festive sales underlined the buoyant customer sentiment and the company is satisfied with the customer demand for its products.

Mercedes-Benz claims a dominant market share of about 40% in the luxury car industry.

Santosh Iyer, Vice President, Sales and Marketing, Mercedes-Benz India said that Mercedes-Benz was not immune to the pandemic and the company had sales de-growth in the second quarter. The company temporarily shut its production facility, which was reopened on May 6.

Sales gradually started recovering wherever markets unlocked and business stabilised. "Our January-November sales numbers are as per our expectations and we have seen month on month sequential growth," said Iyer, adding that they recovered by around 25-30% on average month wise since June.

Company's third quarter sales were at 80 percent of pre-Covid levels and October-November sales indicate that the company has reached pre-Covid levels.

It may be noted, the luxury car segment was specifically impacted with zero sales in April and almost 85 per cent de-growth in May.

On the product launches, he said, the company had stuck to its product introduction plan for 2020 and launched 10 new products round the year. There were some delays due to the pandemic. While it launched the EQC in 2020, the launch of the A-Class Limousine and GLA is planned in 2021.

 

 

Traders see liquidity tightening in India to drive bond playbook in 2021

 

There's growing consensus among traders that the RBI will have to start draining excess cash from the banking system, as abundant liquidity crashed short-term rates and threatened to stoke inflation

India’s sovereign bond investors are converging on a trade idea for 2021. They’re betting that short-term yields would rebound as the central bank soaks up excess cash on signs of an economic recovery.

RBL Bank Ltd. and Quantum Asset Management Ltd. are among those forecasting that liquidity tightening by the Reserve Bank of India will lead short-end rates to rise faster than the long-end -- bear-flattening the yield curve.

“Short-end rates, of up to three years maturity, are currently priced aggressively due to excess liquidity and thus carry maximum risk of a reversal,” said Pankaj Pathak, fixed-income fund manager at Quantum Asset Management Ltd. in Mumbai. “The longer segment may continue to get RBI’s support from open market operation purchases and operation twists.”

There’s growing consensus among traders that the RBI will have to start draining excess cash from the banking system, as abundant liquidity crashed short-term rates and threatened to stoke inflation. Nomura Inc. expects the central bank to start doing so as early as the second quarter of 2021.

The spread between the 10-year yield and the secured overnight rates may gradually narrow, according to Suyash Choudhary, head of fixed income at IDFC Asset Management Ltd. However, it may stay higher than the average seen in the past few years with with monetary policy remaining accommodative and bond supply staying high, he said.

Even as the RBI expects the nation to exit a recession in current quarter, economic risks remain as India is still the second-most affected nation by the coronavirus after the U.S.

Promoters of Vedanta raises $1.4 billion to retire debt, says report

 

The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta Ltd.

Promoters of Vedanta Ltd have pledged their holding in the company to raise $1.4 billion, mostly for repaying the debt that was coming up for maturity.

In a stock exchange filing, Vedanta said its promoters raised $1 billion debt by issuing equivalent notes to Citicorp International Ltd.

Separately, a unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group.

The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta Ltd.

The funds raised from Citicorp "will be used to fund the tender offer for any and all of Vedanta Resources Limited's (VRL) outstanding $900 million 8.25 per cent bonds due 2021," the company said in the filing.

The remaining proceeds of the $1 billion fundraise shall be used to service the debt of promoter group firms, "VRL, Twinstart or Welter and/or for acquisition of equity shares of Indian subsidiary/(ies) of VRL by Twinstar/Welter if decided and in accordance with applicable law," it said.

The company did not give details. An email sent to the company remained unanswered.

The $400 million from OCM Verde XI Investment Pte Ltd will be used for the acquisition of up to 11.5 per cent shares in Vedanta Ltd by Vedanta Holdings Mauritius II Limited and payment of any fees, costs and expenses in connection with the transactions contemplated.

London-based Vedanta Resources Ltd (VRL) last week raised its stake in Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore.

 

No Australian has scored a ton against India at home since 2018

 

Australia's batting struggles at home against India in Tests, which started in the 2018/19 series that they lost 2-1, doesn't seem to have been solved thus far in the ongoing four-match series.

Australia's batting struggles at home against India in Tests, which started in the 2018/19 series that they lost 2-1, doesn't seem to have been solved thus far in the ongoing four-match series despite the inclusion of experienced Steve Smith and the in-form Marnus Labuschagne.

Check India-Australia series latest news updates here

Batsmen from the host's team are yet to score a century against India at home since 2018 and only one Australian -- Marcus Harris -- features in the top 10 highest individual scores in Test matches between the two sides in Australia in this period.

Harris, who is not part of the Aussie squad for the ongoing series, scored 79 in the drawn fourth Test at the SCG in 2019 and that remains the highest score by an Australian at home against India in just over two years. His score is the ninth highest in matches played between the two teams Down Under with Cheteshwar Pujara's 193 in the same Test being the highest. Pujara features thrice in the list while India captain Virat Kohli has two scores in the top 10 -- his 123 at Perth and 82 in Melbourne in 2018.

Ajinkya Rahane, who is standing in as India's captain for the rest of the ongoing series, is the newest entrant in the list thanks to his masterful 112 in the second Test, which remains the only century scored thus far by any batsman this series. The top 10 is rounded off by Mayank Agarwal's 77 in the Sydney Test in 2019.

Australia are yet to go past 200 in the four innings they have played thus far in this series. While they easily chased down a target of 90 in the first Test against a deflated India who were shot out for just 36 runs, they were all out for 191 in the first innings and then scored 195 and 200 in the second Test which they lost by eight wickets.

Low income, high fee: Why fewer children may join private schools in 2021

 

More than 80% of parents with children studying in government schools reported that education was "not delivered" during the lockdown

Fourteen-year-old Alisha Saini loves to study. "I understand everything I am taught in school and what I don't, didi next-door helps me understand," she said. But she couldn't access online classes, between March 24 and August 2020, when the government senior secondary school in Dorasar, in northern Rajasthan was shut, like all other schools in the country, because of the COVID-19-induced lockdown. (The Rajasthan lockdown began on Sunday, March 22.)

Teachers would WhatsApp lesson links to students, but few students could access those, and few of those who could access understood what was being taught, survey data, students and teachers told us. Even bright students like Alisha were unable to keep up. "My father has a smartphone but he is out of the village at least 15 days a month for work," she said. Alisha's father helps run a small eatery (bhojanalaya) in Jaipur, three and a half hours from their home.

"This has been a devastating sort of year," said Bikkrama Daulet Singh, managing director at Central Square Foundation (CSF), a nonprofit working on school education. "There is going to be an impact on student learning."

More than 80% of parents with children studying in government schools reported that education was "not delivered" during the lockdown, because families did not have digital devices or access to digital learning, a survey by nonprofit Oxfam India in Bihar, Chhattisgarh, Jharkhand, Odisha and Uttar Pradesh in May and June found.

This problem is not unique to India. At least 463 million students globally were unable to access remote learning during school closures because of COVID-19, either due to a lack of remote learning policies or lack of equipment needed for learning at home, UNICEF had found.

We spoke to experts on how children can make up for the learning losses during the pandemic and what lies in store for the education sector in 2021.

Investment banking from home thrived in Covid, but some fear losing edge

 

Some investment bankers fear losing their competitive edge as they pitch digitally for business, amid concerns that younger bankers are falling behind

By David French, Matt Scuffham, Krystal Hu and Imani Moise
NEW YORK (Reuters) - Cary Kochman kicked off a sale process for U.S. printing services provider InnerWorkings Inc just as lockdowns to limit the spread of the novel coronavirus took effect in March.

The Citigroup Inc global co-head of mergers and acquisitions, who was advising InnerWorkings on clinching a deal, had to rewrite a playbook he used for most of his 30-year career.

There would be no on-location due diligence for perspective buyers and their lenders. Tours were carried out virtually by people walking around the company's facilities with iPads. Negotiations were done remotely.

By July, Koch man had secured a $177 million sale of InnerWorkings. The price was equivalent to where the company traded as the March lockdowns began, and a 127% premium to its market value the day before the announcement.

His bank's investment banking revenue was up 25% year-on-year in the second and third quarters as companies took advantage of a stock market rally and cheap financing to pursue dream deals and capital raises.

While remote working has paid off handsomely, Kochman and his peers predict bankers will hit the road to meet clients again once the COVID-19 pandemic subsides.

"We are winning new business and beauty contests, but it is hard in this moment to replace an existing and trusted relationship," Kochman said.

Haemoglobin was 'invented' by a single gene, says research

 

Scientists now want to change scale and continue this work by studying when and how the different specialised cells of bilaterian vascular systems emerged.

Paris (France): During a new study scientist have shown that while haemoglobin appeared independently in several species, it actually descends from a single gene transmitted to all by their last common ancestor.
The research which was conducted by scientists from CNRS, Universite de Paris and Sorbonne Universite, in association with others at the University of Saint Petersburg and the University of Rio de Janeiro, have shown that while haemoglobin appeared independently in several species, it actually descends from a single gene transmitted to all by their last common ancestor. These findings were published in BMC Evolutionary Biology.

Having red blood is not peculiar to humans or mammals. This colour comes from haemoglobin, a complex protein specialized in transporting the oxygen found in the circulatory system of vertebrates, but also in annelids (a worm family whose most famous members are earthworms), molluscs (especially pond snails) and crustaceans (such as daphnia or 'water fleas'). It was thought that for haemoglobin to have appeared in such diverse species, it must have been 'invented' several times during evolution. But recent research has shown that all of these haemoglobins born 'independently' actually derive from a single ancestral gene.

Researchers from the Institute Jacques Monod (CNRS/Universite de Paris), the Laboratoire Matiere et Systems Complexes (CNRS/Universite de Paris), the Station Biologique de Roscoff (CNRS/Sorbonne Universite), the Universities of Saint Petersburg (Russia) and Rio de Janeiro (Brazil), conducted this research on Platynereis dumerilii, a small marine worm with red blood.

 

Maruti Suzuki Jimny: Launch date, price, specifications and other details

 

The new Maruti Suzuki Jimny is the 4th generation model of the popular Maruti Suzuki Gypsy.

Recent reports of Maruti Suzuki Jimny being assembled at Maruti’s Gurgaon plant have caught everyone’s attention. According to the reports, Jimny 3-door is being assembled for exports to European market. It is believed that the company was planning to launch 5-door version for the Indian market, but the interest shown to the 3-door version, may push Maruti to go-ahead with launching both the versions in India. Interestingly, Mahindra is also developing a 5-door version of its popular Mahindra Thar.

The new Maruti Suzuki Jimny is the 4th generation model of the popular Maruti Suzuki Gypsy. Jimny was launched in 2018 but made to India for the first time at the Auto Expo 2020 in February.

Let’s take a look at the launch date, performance, looks and other details for the all-new Maruti Suzuki Jimny

When Maruti Suzuki Jimny will be launched in India?

This is the biggest question right now on everyone’s mind. Is it coming to India or not? Although, Maruti Suzuki has declined to comment on it, several sources have indicated that the SUV will be launched in 2021. However, the date is not fixed yet and several reports indicate Jimny is set for launch in the second half of 2021.

 

Looking to buy a car in 2021? Here's a list of top ten upcoming cars

 

Automobile companies suffered losses in 2020 because of the Covid-19 pandemic and are looking to recoup business with new launches in 2021

With the global economy recovering from the Covid-19 pandemic, automobile firms are also trying to recover lost business. Most automobile firms will push their new products aggressively in 2021. 

As we move closer to 2021, we have prepared a list of top 10 cars and SUVs slated for launch in India in the first few months of 2021.

Toyota Fortuner facelift

The new Toyota Fortuner was expected to be launched in 2020. The new Fortuner will have some cosmetic changes. It will have a BSVI compliant engine which will make the new version costlier. It will also have a new sportier rear bumper, different alloy wheels and updated taillamps. The SUV will also have a larger infotainment system and a 9-speaker JBL sound system.

• Expected launch date: 6th January 2021

• Expected price: Rs 30-35 lakhs

• Competition: Ford Endeavour, Mahindra Alturas G4, MG Gloster

.

Audi A4 facelift

Audi A4 facelift is already available for booking. The car is expected to be launched on 5th January. This will be Audi’s first launch in India in 2021 as it seeks to bolster its market share. The new A4 facelift will be offered with a 190bhp, 2.0-litre turbo-petrol engine. The design will be in line with the latest A4 available in the global market.

• Expected price: Rs 42-48 lakh

• Launch date: 5th January

• Competition: Mercedes-Benz C-Class, BMW 3 Series, Volvo S60

.

 

Japan reports first case of new Covid strain that emerged in South Africa

 

The first case of the new coronavirus variant found in South Africa has been confirmed in Japan, the Japan Times reported.

The first case of the new coronavirus variant found in South Africa has been confirmed in Japan, the Japan Times reports.
A woman who arrived from South Africa in Japan on December 19 and tested positive for COVID-19 turned out to be infected with the new 501.V2 strain, the newspaper said on Tuesday.

According to Japanese media reports, another six cases of the new coronavirus strain that emerged in the UK earlier this month have been confirmed in Japan. Thus Japan now has a total of 15 cases of new coronavirus variants.

South African President Cyril Ramaphosa has announced new coronavirus restrictions including strict mask-wearing rules and a curfew extension amid fears over the new coronavirus strain (501.V2) that could be more infectious.

Earlier this month, UK health officials announced that the country had identified a new variant of the coronavirus that spreads faster than other strains. Many countries have suspended passenger travel to and from the United Kingdom in a bid to prevent the import of the new virus strain.

 

India-dedicated funds pulled out $9.1 billion until November, shows data

 

Global emerging market (GEM) funds saw inflows of $718 million, paring the CY20 outflows of such funds to about $1.9 billion.

India-dedicated funds saw outflows to the tune of $317 million in November, taking total outflows in CY20 until then to $9.1 billion, the EPFR data compiled by Kotak Institutional Equities showed.
Global emerging market (GEM) funds saw inflows of $718 million, paring the CY20 outflows of such funds to about $1.9 billion. Inflows from India-dedicated, GEM, and other categories of funds in November totalled $1.2 billion and $10.4 billion in CY20. Assets under management (AUM) of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion. AUM of GEMs has surged 20 per cent to $97.9 billion.

The EPFR fund-flow data primarily tracks mutual funds, ETFs, closed-end funds, variable annuity funds, and insurance-linked funds. It does not include investments from hedge funds, proprietary desks, and sovereign wealth funds, which are tracked by NSDL.

The overall allocation to India by Asia ex-Japan funds increased to 11.1 per cent in November from 10.4 per cent in October, while that by GEM funds increased to 9.8 per cent from 9.4 per cent in the same period.

Financials witnessed heavy buying in November, with inflows of $3.9 billion, followed by industrials ($970 million).

 

Hammer KO review: Pair of basic wireless earbuds with hooks for secure fit

 

Priced at Rs 2,799, the earbuds seem to be a decent audio accessory for people on the go and health and fitness enthusiasts who choose secure fit over audio performance, call quality and snug fit.

The Hammer KO is a pair of entry-level true wireless stereo earbuds manufactured by home-grown technology startup Hammer. These basic wireless earbuds come with a hook-based design for a secure fit – that seems to set it apart from peers in the budget segment. Except for hooks, however, there is nothing novel about these earbuds. They have Bluetooth v5.0 for connectivity, microphones for voice calls, touch controls and IPX4 water resistance rating.

So far as design is concerned, these earbuds are not ergonomically sound, thanks to their hook-based build. But they sure are lightweight. The earbuds are made mostly of plastic, with matte texture on the outer side, and rubber hooks. The ear hooks do make them comfortable to wear, but the Hammer KO lacks snug fit, despite being an in-ear earphones.

This hampers the earbuds’ passive noise isolation capability. They do not come off the ears easily, thanks to the hooks, but you need to constantly adjust them for optimal fit. On the positive side, the earbuds’ ear tips are soft and do not cause any unnecessary discomfort, even when used for extended hours. The earbuds come in a rather big storage-cum-charging case, which is not best for carrying around in hand or jeans pockets. Moreover, the case has an aged microUSB port for charging.

As for audio performance, the Hammer KO has a muted sound output, with a weak bass and underwhelming treble and vocals. There is a built-in microphone on each earbud for attending calls. However, the microphones fail to pick up voice clearly and struggle in loud ambient environment. That said, the earbuds are neither good for music listening experience nor for attending calls. The Hammer KO is touted to have a 30ft connectivity range, but it loses connection with the parent device even when it is in close proximity. The earbuds boast touch controls but they are not intuitive to use.

 

Asian shares jump on US stimulus, Japan's Nikkei hits 29-year high

 

Asian shares jumped, with Japanese stocks hitting a 29-year high, as hopes that a long-awaited U pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetite

NEW YORK (Reuters) - Asian shares jumped on Tuesday, with Japanese stocks hitting a 29-year high, as hopes that a long-awaited U.S. pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetites.

Japan's Nikkei leapt 0.9% to its highest since March 1991, while Australian shares climbed 0.7% and futures for the S&P 500 added 0.3%.

The U.S. House of Representatives had voted earlier to increase stimulus payments to qualified Americans to $2,000 from $600, sending the measure on to the Senate for a vote.

While it is not clear how the measure will fare in the Senate, President Donald Trump's signing on Sunday of a $2.3 trillion pandemic bill, which included the $600 payments, had sent shares on Wall Street to record highs overnight as it increased optimism about an economic recovery.

"With the Brexit...and the U.S. stimulus deal now in the rear-view mirror, there is a sense of relief that we have avoided the respective worst-case scenarios," said Stephen Innes, chief global market strategist at Axi, a broker.

Firmer demand for riskier assets kept the U.S. dollar, which is often seen as a "safe-haven" asset, on the back foot. It was down 0.02% against a basket of major currencies.

Shorting the dollar has been a popular trade recently and calculations by Reuters based on data released by the Commodity Futures Trading Commission on Monday suggested this could endure. Short positions on the dollar swelled in the week ended Dec. 21 to $26.6 billion, the highest in three months.

Sterling softened to $1.3462 as investors continued to take profits in the currency following the confirmation last week of a trade UK-EU trade deal that was widely expected.

Two-wheeler industry hopeful of growth in Q4 but wary of Budget: HMSI

 

The farmers' agitation and Budget are "sort of dark clouds" as the two-wheeler industry is hoping for a low single-digit sales growth in Q4 of 2020-21 on the back of a low base of previous year.

The ongoing farmers' agitation and the upcoming Budget are "sort of dark clouds" that need to be closely watched even as the two-wheeler industry is hoping for a low single- digit sales growth in the fourth quarter of 2020-21 on the back of a low base of previous year, according to a senior official of Honda Motorcycle and Scooter India (HMSI).

With gradual opening of colleges and universities expected from next year, the two-wheeler industry is also banking on student buying to add to the sales momentum.

"...we had the transition from the BS-IV to BS-VI so that gives us a lower base of Q4 of FY20 versus Q4 of FY21. Considering that we hope there could be a low single-digit kind of growth in Q4 of FY21," HMSI Senior Vice President, Sales and Marketing Yadvinder Singh Guleria told PTI.

He was responding to a query on how the company sees growth picking up in the January-March period for the two-wheeler industry, which has witnessed recovery in the festive period from COVID-19 induced disruptions.

In the run-up to the BS-VI transition from April 1 this year, automobile companies had reduced their production in order to prevent unsold BS-IV stocks.

Stating that there are not very high expectations from the fourth quarter, he said,"(There are) two or three things, sort of dark clouds -- the ongoing farmers' agitation and the Budget around February. These are the two things which need to be closely watched."

While the farmers' agitation will have a bearing on the rural sales, where motorcycles are predominantly sold, what sort of Budget will be presented is also something the industry is anxious of.

Gujarat in 2020: Year of migrants' march, hospital fires, lion's roar

 

Disruption of industrial activities due to the coronavirus-induced lockdown, protests by jobless migrants eager to return home and hospital fires- all these kept Gujarat in the news during the year.

Disruption of industrial activities due to the coronavirus-induced lockdown, protests by jobless migrants eager to return home and hospital fires - all these and more kept Gujarat in the news during the year.

Near-deserted roads, closed factories, business establishments and educational institutions defined life in the early months of the lockdown in the state.

Public mask mandate, social distancing, hand hygiene, work from home and online education became buzzwords as people digested the magnitude of the global health crisis.

The lockdown turned into a human tragedy in Gujarat as migrant labourers, rendered jobless and left with very little resources to fall back on, decided to leave for their native places.

The restless migrant workers hit the streets to demand transport arrangements to travel back to their hometowns during the lockdown. These protests took violent turn in some cities.

There were painful scenes of migrant workers returning to their home states by whatever means of transport they got. While some just walked towards their native places, others used cycles or any other vehicle available to make the return journey.

The government later started special trains to ferry migrant workers to their respective states.