China’s official gauge of manufacturing activity fell in February, in part thanks to the Lunar New Year holiday season Figures come in advance of gross domestic product growth target, to be announced at annual session of China’s top legislature next week China’s manufacturing activity declined for the fifth consecutive month in February, with the fall attributed to disruptions surrounding the Lunar New Year holiday, but analysts anticipate a moderate pickup in the months ahead despite structural frailties still looming large. The official manufacturing purchasing managers’ index (PMI) fell to 49.1 in February from 49.2 a month earlier, the National Bureau of Statistics (NBS) said on Friday, despite Beijing’s considerable efforts to stimulate construction, foreign investment and consumption. The new-orders subindex remained unchanged at 49, while the new export orders subindex stood at 46.3, compared to 47.2 in January. The readings, though, are expected to see an improvement in the near term thanks to policy support, although “this rebound appears fragile and may not last once policy support is scaled back,” with the recovery set to be short lived due to structural issues, said analysts at Capital Economics. Elsewhere, the non-manufacturing PMI, which measures business sentiment in the services and construction sectors, climbed to 51.4 from 50.7 in January, thanks to booming travel and dining activities during the Lunar New Year. The PMI readings are seen as less reliable in February because the Lunar New Year holiday makes it difficult to obtain a clear picture of economic momentum, according to Zhang Zhiwei, president and chief economist at Pinpoint Asset Management. “This is particularly true for the manufacturing sector,” he said. “Meanwhile, other data points show a mixed picture, with travel data strong but housing data weak. We need to wait for more macro data on retail sales and industrial production in January and February to get a clear view of the economy.” The official composite PMI, which includes both manufacturing and services, remained unchanged at 50.9 in February, indicating a slight expansion of production and business activities. Meanwhile, the Caixin/S&P Global manufacturing PMI – which focuses on smaller firms and coastal regions and includes a number of exporters, edged up to 50.9 from 50.8 in January. Senior NBS statistician Zhao Qinghe also attributed the slowdown in the manufacturing sector to the Lunar New Year holiday, which took place over eight days in mid-February. “Additionally, an increase in employees returning home for the holiday period [as the pandemic had been under control] further impacted firms’ production and operations,” Zhao added. Despite the poor data resulting from statistical issues and holiday disruptions, the readings in February suggested a rosy picture, driven by strong credit growth and fiscal spending at the start of the year, said Xu Tianchen, a senior China economist with the Economist Intelligence Unit. “At this moment, we should probably overweight the Caixin PMI, which points to stronger momentum,” he said. Beijing has vowed to hit the ground running on the economic front in 2024, as most observers have predicted an official target of 5 per cent expansion of gross domestic product (GDP) to be announced this year. The Chinese leadership has already heightened its rhetoric on economic issues, making promises for a unified market, improved business environment and an escalation in consumption during several high-profile conferences in February. The annual GDP growth target is due to be released at the annual session of the National People’s Congress, which will begin on Tuesday. Source: South China Morning Post

Oleg Nikolayevich Avdeev, Russian Consul General to South India, on Saturday organised an India-Russia friendship walkathon saying that the event "shows how strong our friendship is." "Diplomatic relations between the two countries started in 1947, even before India formally attained independence. Every year we mark this event--the anniversary of this event with different functions. For a few years, it's walkathon, this is the second time we organised it. This is a very symbolic event which...our friendship, which shows how strong is our friendship, it will remain forever and will go from strength to strength," the Russian Consul General said. The India-Russia friendship walkathon is dedicated to the 76th anniversary of diplomatic relations between Russia and India and was held at Besant Nagar Elliots beach road in Chennai. At the walkathon, people were holding Indian and Russian flags in their hands. "Today, a cycling rally celebrating the 76th anniversary of #RussiaIndia diplomatic relations took place. The event was organized by the Russian Embassy together with the Confederation of Indian Cyclists. Hindi-Rusi bhai-bhai!" tweeted the Russian Embassy in India. Speaking about Indian medical students, Avdeev said, "All students are welcome to go to Russia for studies. Every year we see an increase in the number of students going there for medical studies. All condition is created for the students and most of the universities offer education in the English language which is convenient for students. They don't have to spend one year to learn the language, but in any case, they learn the Russian language which is a bonus, so they get a medical education and also get proficiency in the Russian language which increases their future prospects -- it gets wider." Meanwhile, Ukraine's First Deputy Foreign Minister Emine Dzhaparova conveyed to India during her recent visit that the Indian medical students, who had returned to New Delhi following Russia's invasion of Ukraine will be allowed to take a key examination from India. According to the official release of the Ministry of External Affairs, Emine Dzhaparova held talks with the Indian side on several issues. Regarding the Indian medical students, the Deputy FM mentioned that Ukraine will allow foreign medical students to take the Unified State Qualification Exam in their country of domicile. The Russian Consul General also said that trade between the two countries is "growing exponentially." "Trade has been growing for the past year -- growing exponentially. India had always good relations with Russia - trade and economy, for many years we had a Ruble-Rupee basis for our foreign trade. Now, again we are switching to national currencies in our trade. It speaks volumes about our cooperation. I think we will witness a growing volume of trade in the coming years," he said. Avdeev also spoke on Kudankulam Nuclear Power Plant, the largest nuclear power station in India, situated in Kudankulam in the Tirunelveli district of the southern Indian state of Tamil Nadu. "Kudankulam is the biggest Russian-Indian project, actually, it is a flagship costing billions of dollars. Two of the blocks are already functioning, two are in an advanced stage of construction and two more constructions has started last year in the remaining blocks. It has been going progressively. When it will be completed, all six blocks in the state of Tamil Nadu, South India, there will be no power shortage and no problem of electricity. This is a huge project and it will solve all electricity problems and the economy of South India, particularly Tamil Nadu will be growing, reaching the target of the trillion-dollar economy by the year 2030," he said. Speaking on the tourism prospects between Russia and India, Avdeev said that South India has become the hub of Russian tourists due to "many attractions." "The flow of tourists to India is growing. We registered a growing number of tourists. Last year we had a Russian-Indian fair - tourist and travel fair in Trivandrum (Thiruvananthapuram), that was a good starting point for new prospects in tourism exchange between the two countries and this year another (second) fair of travel and tourism is also going to be held in Trivandrum later this year and it will give a fillip to the trade exchange between the two countries. Many tourists are coming to South India because there are many attractions here, Russian tourists are discovering South India," said the Russian Consul General.

International Monetary Fund division chief Daniel Leigh on Tuesday reposed faith in the Indian economy and said that it is a "very strong economy." He said that India is one of the bright spots in the global economy right now with a high growth rate. "Yes, we have a growth rate for India which is 6.8 in 2022. Let's not forget this is one of the bright spots in the global economy right now. Such a high growth rate and it is moderating down to 5.9 with a -.2 revision compared to January, what's happening here is also a set of historical revisions," said Leigh. IMF on Tuesday lowered its growth projection for 2023-24 to 5.9 per cent from 6.1 per cent earlier but despite a significant drop, India continues to be the fastest-growing economy in the world, the World Economic Outlook figures revealed. "We realize that 2020-2021 has been actually a lot better than we thought and so actually there's less room for catching up. And that pent-up demand from consumers that were informing our previous forecast is therefore going to be less because they've already had more catching up before. So that's why there's a downward revision this year. Then we go up to 6.3 next year again, a very strong economy which is necessary to allow India to continue to converge towards higher living standards and create those jobs that are necessary," added Leigh. The IMF projects India's inflation to slow to 4.9 per cent in the current year and further to 4.4 per cent next fiscal year. IMF growth forecast is lower than the Reserve Bank of India (RBI) projection. The central bank predicted 7 per cent GDP growth for FY 2022-23 and 6.4 per cent in the ongoing fiscal that started on April 1. Meanwhile, the international lender flagged concerns about inflation, debt and risks to the financial sector from rising interest rates. It warned that if banks cut lending further, the global output will reduce by another 0.3 percentage point in 2023. "Despite the fillips from lower food and energy prices and improved supply-chain functioning, risks are firm to the downside with the increased uncertainty from the recent financial sector turmoil," the report said. The IMF projects growth to bottom out at 2.8 per cent in 2023, picking up to 3 per cent in 2024. Inflation is expected to stay elevated at 7 per cent for the rest of the year, before declining to 4.9 per cent next year. China's growth rate is projected to be 5.2 per cent in 2023 and 4.5 per cent in 2024 against its growth rate of three per cent in 2022. The US's growth forecast for 2023 is 1.6 per cent, France's 0.7 per cent, while Germany and the UK are a dismal -0.1 per cent and -0.7 per cent, respectively. Most countries will, however, avoid recession in 2023 despite the COVID pandemic lingering and tightening financing conditions as the Russia-Ukraine war continues.

At least 14 people were killed and many more trapped under rubble following a strong quake. The epicenter was about 80 kilometers south of Guayaquil, the second largest city in Ecuador. A 6.8 magnitude earthquake struck southern Ecuador and northern Peru at 12:12 p.m. local time (1712 UTC/GMT) Saturday, killing at least 14 people. The epicenter of the quake was roughly 80 kilometers (50 miles) south of Ecuador's second biggest city, Guayaquil, and nearly 10 kilometers from the city of Balao in the province of Guayas. Other cities including Quito, Manabi and Manta felt tremors. Guillermo Lasso, Ecuador's president, said the situation had "generated alarm in the population." He asked that people remain calm in a tweet.  Lasso said he planned to travel to El Oro Saturday. What do we know so far? The Risk Management Secretary, Christian Torres, said in an interview on Ecuadorean radio that 11 people died in El Oro, the coastal state, and one in the mountainous state of Azuay. The victim in Cuenca, in Azuay's Andean community, was riding in a vehicle when he was crushed by rubble from a residential building, Torres said. In the town of Machala, a two-story home collapsed trapping an unknown number of people inside. Ecuador's emergency response agency said firefighters were at work to rescue those who remain trapped. The country's national police were at work assessing the damage. Power and telephone lines were both reportedly down in some places, making the work of emergency crews all the more hazardous. Three tunnels were closed in Guayaquil, a city of three million. People gathered on the streets following the quake with many reporting objects falling inside their homes. No deaths or injuries were reported in northern Peru, though the old walls of an army barracks collapsed in the northern region of Tumbes. In 2016, 600 people died following an earthquake in Ecuador. The Ecuadorean Navy ruled out the risk of a tsunami.

The government remains committed towards strong macroeconomic fundamentals and financial stability despite global headwinds, a finance ministry report has said. The current global economy is navigating through incredibly rough waters attributed to global uncertainties, the unfolding of conflict in Ukraine, the reaction of financial and commodity markets to the changing scenarios and tight monetary policy, etc. "However, despite hurdles, the Indian economy has performed reasonably well as compared to other major economies and shown its resilience amidst the global slowdown and global uncertainties," as per the statement on Half Yearly Review of the Trends in Receipts and Expenditure in relation to the Budget at the end of the first half of FY'23. The budget 2022-23 was presented against the backdrop of recovery from the unprecedented Covid-19 crisis and clues of global uncertainties on account of the war in Ukraine, it said. The fiscal policy led by favourable macroeconomic fundamentals ensured a higher pace of capital expenditure compared to last year to push for rapid infrastructure development, considering the multiplier effect of capital expenditure on the overall economy, it said. The government has increased the allocation to capital expenditure by 35 per cent to Rs 7.5 lakh crore in 2022-23 as compared to Rs 5.5 lakh crore in the previous year. This is 2.9 per cent of GDP, the highest ever. The Budget 2022-23 envisioned a stronger commitment towards capital expenditure along with keeping fiscal consolidation in sight, it said, adding, the Government of India (GoI) adopted a more calibrated fiscal path to strike a balance between growth and fiscal consolidation. Though the hovering global uncertainties mainly due to the Russia-Ukraine war and tight monetary policy by major economies were the factors to watch, the stronger macro-economic fundamentals in 2021-22 provided an opportunity to focus on infrastructure building. Gross Tax Revenue was estimated at about Rs 27.58 lakh crore with an implied tax-GDP ratio of 10.69 per cent. Total non-debt receipt of the Centre was estimated at about Rs 22.84 lakh crore consisting of Tax Revenue (Net to Centre) of about Rs 19.35 lakh crore, Non-Tax Revenue of about Rs 2.70 lakh crore, disinvestment receipts of Rs 0.65 lakh crore and receipts on account of recovery of loans of Rs 0.14 lakh crore. With the above estimates of receipts and expenditure, the fiscal deficit was pegged at about Rs 16.61 lakh crore in BE 2022-23, which was 6.4 per cent of the GDP. Fiscal deficit was planned to be financed by raising Rs 11.59 lakh crore from the market (G-sec + T-Bills) and the remaining amount of Rs 5.02 lakh crore from other sources such as NSSF, State Provident Fund, External debt etc, it said. With regard to foreign exchange reserves, the report said these were USD 532.7 billion at end-September 2022 from a level of USD 638.6 billion at end-September 2021. The average exchange rate was Rs 78.5 per USD during H1 of FY 2022-23 as compared to Rs 73.9 per USD in H1 of FY 2021-22, it said.

Prime Minister Sheikh Hasina today called upon all the world leaders to form a strong global partnership to say goodbye to the curse of homelessness, saying that she believes a safe and decent shelter is the basic right of every individual.   “Homelessness is indeed a curse. It affects people in both developing and developed countries. Our experience shows, it is within our capacity to do something about removing this curse. All our friends and stakeholders gathered here can forge a strong partnership to make that happen,” she said. The Prime Minister was addressing a side-event on “Sustainable and Affordable Housing” which, she said, is an issue she holds very close to her heart. “The New Urban Agenda provides us with a useful blueprint for moving forward. We must support UN-HABITAT’s work in supporting countries to implement the Agenda. Bangladesh will remain engaged with the Group of Friends here in New York to bring these issues to the forefront. Let us keep working for a world where homelessness becomes a matter of the past,” she said. Being a densely populated country of 165 million people, she said, Bangladesh could successfully manage the issue of homelessness. “We are providing the landless-homeless people houses with land free of cost. I am here today to share my experiences of success in building sustainable houses for the underprivileged people across the country,” she added. After Bangladesh’s independence, Sheikh Hasina said, the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, took initiatives to rehabilitate the landless, homeless and rootless people making it a development priority in 1972. Counting on the vision of the Father of the Nation, in 1997, the premier said, her government launched a project named ‘Ashrayan’ that means housing for landless-homeless people. “For last two decades, my government has made the most sincere effort to ensure free of cost housing for all,” she said. The Prime Minister said their coverage area is not only the cities, rather it includes every village, town, district, island and hilly region of the country. On the occasion of birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, this effort is rejuvenated with bigger standings, she said, adding that just in the last two years, they have built two hundred thousand homes which accommodate about one million people. “During my premiership of eighteen years, we have accommodated 3.5 million homeless people in more than half a million of houses. Construction of another 40 thousand houses is presently going on,” she said. Under this project, each family is getting ownership of a brick-built house of 400 sq. ft area with two-bedrooms, one long verandah, a kitchen and a sanitary latrine, she said. “We are providing free electricity connections, safe drinking water to every household. We are giving the house and the land with a sufficient homestead area free of cost, which is unique in the history of the world,” she said. The beneficiaries of these houses are the landless-homeless, beggars, day labourers, destitute women, widows, persons with disabilities, elderly people, the victims of domestic violence, ethnic minority, third gender people, leprosy patients, sweepers, and Harijan community (so-called lower caste), she said. She also mentioned that they are addressing the climate-victim families too. “We have already accommodated 5 thousand climate-refugee families in 139 multi-storey buildings in Cox’s Bazar.” Previously, she said, it was a common scenario in Bangladesh that homeless people used to flock to the cities in search of employment and dwelling. But, since the introduction of Ashrayan project, she said, this trend has almost stopped while these people are now self-employed in their own localities. “We are following a model of `Inclusive Development.' The model ensures a holistic approach to make a rehabilitated person self-reliant and self-dignified with economic and social empowerment. The project ensures an equal share of ownership of the land and house for both husband and wife. House is the most basic need of every citizen of the country and it creates opportunities for fulfilling other needs,” she said. In Bangladesh, the premier, said they have experienced that a home is not just a place to live rather housing security accelerates a person's economic emancipation and motivates them to live with dignity. Sheikh Hasina said along with the provision of land and houses, they have made successful arrangements in sending children to primary schools. Besides, she said, “To deliver primary healthcare, connections have been made with the nearby community clinics. The children and women receive thirty types of medicines free of cost. Homestead gardening, rearing poultry and fish production, including micro and small entrepreneurship activities led by women are in place. These interventions have made the initiative sustainable and eco-friendly.” President of Malwai, Dr. Lazarus McCarthy Chakwera, Vice-Minister of Ministry of External Affairs of India, Sanjay Verma, Permanent Representative, Slovak Republic to the UN, Michal Mlynár and Director-General, ILO, Guy Ryder, also spoke on the occasion. Source: BSS AH

Mister Olympia, action hero, governor, environmentalist and Kremlin critic: Arnold Schwarzenegger is going strong as he celebrates his 75th birthday. The Terminator, an android killing machine from the future, is notorious for being virtually indestructible. Arnold Schwarzenegger has played the title role several times during his career, and it almost seems as if he has internalized his alter ego’s essential characteristic. At age 75, he is still in front of the camera, not so much as an action actor, but as a Kremlin critic and environmentalist. His muscles may have softened, but his words are strong. He uses his popularity to take a stand on global events via his social media channels. Speaking to the Russian people, among whom he is widely admired, following the Ukrainian invasion, he said via video that they are being lied to and this is an illegal war. Your lives, your limbs, your futures are being sacrificed for a senseless war condemned by the entire world, he said in a rousing nine-minute video posted to Twitter in March that was viewed near 50 million times. Work of a sculptor Arnie, as he is affectionately known, was born on July 30, 1947, in Thal in the Austrian region of Steiermark. As a child, he was active in sports, including soccer, boxing and swimming. At age 15, he first entered a weightlifting studio. Over the next few years, the young Schwarzenegger would spend most of his time fine-tuning his muscles. You have to train each muscle individually. It’s like the precise work of a sculptor who works on marble with a hammer and chisel - not exactly like Rodin, but similar, Schwarzenneger told the German weekly Die Zeit in 2012. In 1967, he became the youngest Mr. Universe. Starting in 1970, he earned the Mr. Olympia title - the most important bodybuilding award - six times in a row. He readily admits that he took steroids, adding that they weren’t banned at the time. Welcomed by Andy Warhol When Schwarzenegger immigrated to the US in 1968, his impressive appearance soon caught the attention of the film industry. Known under his stage name, Arnold Strong, he got his first role in 1969 in Hercules in New York. At the same time, Schwarzenegger also found his way into the art scene and got to know Pop Art icon Andy Warhol. He was fascinated by my energy and my strength, the bodybuilder told Die Zeit. I worked as a model for him, and he introduced me to other artists like Jamie Wyeth and Laraine Newman. Schwarzenegger also recalled how Warhol introduced him to producers, fundraisers and actors like James Caan, Woody Allen and influential people like Jackie Kennedy. Years later, Schwarzenegger would become part of the Kennedy family himself, when he married Maria Shriver, the niece of former US President John F. Kennedy, in 1986. Now well connected, his film career took off in 1977. Schwarzenegger surprised critics by winning a Golden Globe for Best Acting Debut in a Motion Picture for his bodybuilder docudrama Pumping Iron. In 1982, he became famous as Conan the Barbarian, and in 1984 he was offered the main role in a B-movie called The Terminator, which, in Schwarzenegger’s own words, was a big challenge for him. Thanks to his convincing performance as the android killer, the low-budget production by director James Cameron quickly rose to cult status. The Governator By then, Schwarzenegger was in high demand, and his earnings continued to rise. From the late 1980s until the early 1990s, he enjoyed a great deal of commercial success not only with action movies, but also with comedies like Twins and Kindergarten Cop alongside Danny DeVito. Nevertheless, the hype had ebbed. After his third performance as The Terminator in 2003, Schwarzenegger said farewell to the film world and launched his third career, this time as a politician. When he ran for governor in California in 2003, he brought along the sword he used to carry as Conan the Barbarian to Sacramento, presenting himself as the strong man the state needed to rescue it from heavy debt, while calling his political opponents wimps. It took him a while, however, to get used to his new profession as governor. As an actor, you can rely on the screenplay, but a politician doesn’t have one. Every day, every hour, it’s incredible how many problems you’re faced with - social welfare, poverty and overflowing jails. You wake up in the morning to 2,000 bush fires in California, or somebody is sitting in a prison cell waiting to be executed at midnight, and you get a call, saying, Governor, you could stop it, he told the Frankfurter Allgemeine Zeitung in 2013. Schwarzenegger, a Republican, is a supporter of the death penalty and turned down two pardon opportunities as governor before lethal injection was declared unconstitutional in California in 2006, effectively ending capital punishment in the state. Following his two terms, he returned to familiar terrain and filmed yet another edition of Terminator in 2015. A vocal critic of President Donald Trump, Schwarzenegger took over the former president’s casting show, The Apprentice, in January 2017, but dropped it after one season due to bad ratings. Environmentalist and Kremlin critic But only one role has not been enough for the former politician for a long time. Above all, Arnold Schwarzenegger has made the fight against climate change his mission. In his speeches, such as at this year’s Austrian World Summit, an annual climate conference in Vienna co-hosted by his Schwarzenegger Climate Initiative platform, he focuses on new technologies and urges a shift away from fossil fuels. We have blood on our hands, the ex-bodybuilder has said of Europe financing Moscow’s war of aggression in Ukraine with its billions in payments to Russia for oil and gas imports. He also doesn’t mince words when criticizing politicians in his own country. In an emotional video released immediately after the storming of the US Capitolon January 6, 2021, Schwarzenegger called Donald Trump a liar, a coup plotter and a failed leader. He will go down in history as the worst president ever. But America will overcome these dark days and come back stronger because we now understand what we have to lose, he says in the video. With his eventful life, Austrian-born Schwarzenegger represents the embodiment of the American dream like few Europeans before him. As Terminator (1984), he coined the legendary phrase I’ll be back. Arnold Schwarzenegger has always kept this promise and, even at 75, has no plans to leave the stage anytime soon. 

Japan's ruling party and partners won enough votes to form a supermajority in an upper house election held just days after the assassination of former prime minister Shinzo Abe, local media said Monday.   The ex-premier's ruling Liberal Democratic Party (LDP) and its coalition partner Komeito strengthened their hold by winning more than 75 of the 125 upper house seats up for grabs, according to national news outlets.   The parties are part of what is now a two-thirds supermajority willing to amend the country's pacifist constitution, thereby strengthening its military role on the global stage -- a longtime Abe goal.   Even before the former prime minister's murder, the LDP and Komeito were expected to cement their majority, though the final number of seats will be scrutinised for signs of whether the attack bolstered support for them.   "I think it is significant we were able to complete the elections," Prime Minister Fumio Kishida told NHK, adding he wants to tackle the pandemic, Ukraine-related issues and inflation.   Kishida had insisted the election proceed despite the assassination, saying "we must never allow violence to suppress speech."   Conceding defeat, Kenta Izumi, leader of the opposition Constitutional Democratic Party, which was projected to have lost several seats, said it was clear "voters did not want to switch from the LDP and entrust us with running the government," according to Kyodo News.   Despite the murder, turnout for the election remained low at only 52 percent, national outlets reported.   Abe was gunned down at close range on Friday in the western region of Nara, and died of blood loss at a local hospital. His body was brought to his family home in Tokyo on Saturday.   The assassination rattled the nation and sent shockwaves around the world, prompting an outpouring of sympathy even from nations with which the hawkish Abe had sometimes difficult relations, such as China and South Korea.   The man accused of his murder, 41-year-old Tetsuya Yamagami, is in custody and has told investigators he targeted Abe because he believed the politician was linked to an unnamed organisation.   Local media have described the organisation as religious and said Yamagami's family had suffered financial trouble as a result of his mother's donations to the group.   He also reportedly visited the western region of Okayama on Thursday with the intent of killing Abe at a different event, but backed out because participants had to submit their names and addresses.   Additionally, Yamagami admitted to police to test-firing guns at a facility connected to the religious group beforehand, according to media.   - 'No bigger regret' -   With little violent crime and tough gun laws, security at Japanese campaign events can be relaxed, though in the wake of Abe's murder, measures were beefed up for Kishida's remaining appearances.   Security at polling stations on Sunday remained normal, however, with 79-year-old Takao Sueki saying he was voting with an eye on international instability, including Russia's invasion of Ukraine.   "Watching the world now, I think every day about how Japan will manage with the situation," he told AFP.   "This is a democratic country and I despise the use of violence to eliminate someone," he added when asked about Abe's murder.   "I strongly believe that if people have disagreements, they should dispute them with dialogue."   Police have promised a "thorough investigation" into what the head of the Nara regional police called "problems with guarding and safety measures" for Abe.   "In all the years since I became a police officer in 1995... there is no greater remorse, no bigger regret than this," chief Tomoaki Onizuka tearfully told reporters on Saturday evening.   - Wake, funeral planned -   Abe's office told AFP that a wake would be held on Monday night, with a funeral for family and close friends only on Tuesday. Local media said both were expected to be held at Tokyo's Zojoji Temple.   US Secretary of State Antony Blinken, who was in Asia for meetings, arrived in Tokyo on Monday to see Kishida and offer condolences in person.   Abe was the scion of a political family and became the country's youngest post-war prime minister when he took power for the first time in 2006, aged 52.   His hawkish, nationalist views were divisive, particularly his desire to reform Japan's pacifist constitution to recognise the country's military, and he weathered a series of scandals, including allegations of cronyism.   But he was lauded by others for his economic strategy, dubbed "Abenomics," and his efforts to put Japan firmly on the world stage, including by cultivating close ties with Biden's predecessor Donald Trump.   Kishida, 64, was once described as among Abe's favoured successors, and holds a solid majority in parliament with Komeito.   But he faces significant policy headwinds, including rising prices and energy shortages, particularly after an early summer heatwave that led to a power crunch.   Kishida is expected to reshuffle his cabinet in the coming months. Source: AFP/BSS AH

Analysts highlight that on a sequential basis, headwinds are in the form of wage revision for Infosys, TCS and Tech Mahindra; increase in travel costs across all companies and visa costs for many; and decline in utilisation, as companies crank up fresher hiring to meet demand. Attrition is expected to remain high at over 20% across companies as they deal with talent crunch in a buoyant demand environment. “Companies are expanding talent pools largely through freshers, though they take time before they get into production. In the interim, mid-cycle compensation revision and retention bonuses are common. Onsite attrition is also high across companies,” analysts at KIE said. In terms of pricing, companies have secured some revision though not enough to offset wage inflation. “For now, a more reasonable assumption will be stable pricing rather than a view of pricing increase,” they said. Companies will also face cross-currency headwinds emanating from 5%, 6.6% and 1.7% appreciation of the dollar against the euro, pound and Australian dollar, respectively. Cross-currency headwinds are expected to be between 120 and 200 basis points. “Optically, rupee depreciation may appear as a tailwind; however cross-currency headwinds have ensured only a marginal tailwind for the quarter,” they said. IT companies are also expected to report robust new deal wins, with a strong demand pipeline and no material change in their decision-making cycle. Also, analysts expect a divergent performance across companies sequentially due to seasonal factors, while the year-on-year growth is expected to remain strong. “On a sequential basis, performance will vary depending on seasonal factors and a certain amount of portfolio stress. We believe Infosys will lead the way with growth of 4.5%, followed by TCS at 3.6%,” analysts said. However, seasonal weakness is expected to impact the growth of Tech Mahindra at 2.6% in cross-currency (CC) terms, Wipro at 2.8% in CC terms and 2.1% organic, and HCL Technologies at 2.4% in CC terms. “Mphasis will report a weak quarter due to a likely decline in the BPO business linked to mortgage origination and refinancing. LTI (L&T Infotech) will report modest 3.1% growth due to lower pass-through revenues. Mindtree will lead the way on growth among mid-tier companies,” they said. Meanwhile, the year-on-year performance is expected to remain strong across the board and range from 2-4.5% for the Tier 1 and 3-5% for the mid-tier category. The earnings seasons starts from July 8, with TCS reporting its financial numbers for the April-June quarter. Source: The Financial Express

Bangladesh Information and Broadcasting Minister Dr Hasan Mahmud, on Thursday, said that the feature film, ‘Mujib- the Making of a Nation’ displays the neighbourly relations between India and Bangladesh under the leadership of Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina. Union Minister of Information and Broadcasting Anurag Thakur and Bangladesh broadcasting Minister Dr Hasan Mahmud on Thursday unveiled the first trailer of the feature film, ‘Mujib- the Making of a Nation’, at the Cannes Film Festival on its third day. While addressing the gathering on the occasion, Dr Mahmud said, this initiative complements the leadership of the two Prime Ministers who have jointly worked to strengthen the ties between both countries. This is added as another milestone in the neighbourly relations between India and Bangladesh. “The movie was a demonstration of the strength and depth of the relationship between the two countries,” Bangladesh Live News quoted Dr Mahmud as saying Introducing the idea behind the movie, Dr Mahmud said that it was based on the struggle, suffering and making of a nation by Bangabandhu Sheikh Mujibur Rahman. He said that Bangladeshis will always remember the sacrifice of Indian soldiers while thanking the people of India for supporting Bangladesh in its independence war in 1971. “People of the world will know how he remained unwavering in the face of gallows and how he transformed an unarmed nation into an armed one and led the liberation war. It isn’t easy to capture the whole life of such great people in 3 hours but the team making the movie has done a great work,” he added. While Union Minister Anurag Thakur said that the initiative of Prime Minister Narendra Modi is a gift to the people on the birth anniversary of Mujibur Rahman. The feature film directed by Indian filmmaker Shyam Benegal is a co-production of India and Bangladesh. “The movie is a gift on the birth centenary of Bangabandhu Sheikh Mujibur Rahman Ji,” Thakur said while thanking PM Modi and Bangladesh counterpart Sheikh Hasina, reported Bangladesh Live News. Thakur reiterated Bangladesh Union Minister Hasan Mahmud’s comment saying that the film will strengthen the relations between the two countries. The movie was produced when the whole world was dealing with the COVID-19 pandemic. As India celebrates 75 years of freedom this year, there could not be a better day to release this. “This year marks the 75th anniversary of India’s independence and India being the Country of Honour at Marche du Film, there could be no better opportunity to release the trailer and display the friendship of India and Bangladesh.” Filmmaker Shyam Benegal could not attend the prestigious festival but marked his presence via video message. He thanked both the countries for the support and expressed gratitude to the actors and technicians from both the countries who worked in the film. He said, “The trailer is out and I hope the audience will appreciate it. It was an absolutely marvellous journey working for this film as I got an opportunity to work with the artists and technicians from both nations. I am thankful to Ministries from India and Bangladesh for their overwhelming support,” he said, reported Bangladesh Live News. Arifin Shuvoo and Nusrat Imrose Tisha have played the lead roles in the film. The film is a biopic of the founder and first Prime Minister of Bangladesh, Bangabandhu Sheikh Mujibur Rahman. The 90-second trailer was launched at the Indian pavilion. Secretary, Information of Broadcasting, India, Shri Apurva Chandra, Ambassador of India to the Republic of France, Jawed Ashraf, Ambassador of Bangladesh to the Republic of France, Khondker Mohammad Talha, along with the cast of the movie, were present on the occasion.  Source: India Post