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The India Meteorological Department (IMD) has yet to officially declare cyclone 'Fengal', which is currently located off the coast of Sri Lanka and is projected to impact Tamil Nadu. An announcement from the IMD is anticipated soon, although the intensity of the rains may diminish shortly. Satellite imagery from 7:15 AM indicates that the coastal region from Mayiladuthurai to Tondi is already experiencing significant rainfall, affecting several towns including Nagapattinam, Velankanni, and Thiruvarur. Additionally, a concentrated area of storm activity has been identified in the Delta districts, encompassing Kalakyarkoil, Karaikudi, and surrounding areas. As the situation develops, local authorities are closely monitoring the cyclone's trajectory and potential impact on the region. 
Published: Nov 27 2024, 8 ameznews.inThe Amul Clean Fuel Rallies concluded in New Delhi on November 26, coinciding with National Milk Day, after 77 participants drove biofuel cars over 5,000 kilometres from various starting points, including Himmatnagar, Kolkata, Pune, and Jammu. Organised by Amul and supported by Maruti Suzuki and Bajaj Auto, the initiative aimed to promote awareness of the circular economy and sustainability, engaging with state cooperatives, institutions, and farmers along the route. Minister of State for Animal Husbandry and Dairying, SP Baghel, acknowledged the contributions of Verghese Kurien and Tribhuvandas Patel to the cooperative sector and the White Revolution during the reception of the participants. The government reported that in the 2023-24 period, India produced 239.30 million tonnes of milk, with Uttar Pradesh, Rajasthan, Madhya Pradesh, Gujarat, and Maharashtra accounting for nearly 54% of the total output.
Published: Nov 27 2024, 11 ameznews.inThe Indian stock market showed modest gains on November 27, 2024, with the SENSEX rising by 53.21 points to close at 80,057.27, while the NIFTY increased by 15.25 points to reach 24,209.75. In commodities, crude oil prices climbed by 47.00 to settle at 5,823.00, gold surged by 589.00 to 75,800.00, and silver rose by 520.00 to 88,770.00. Meanwhile, the India Meteorological Department (IMD) has warned that the coastal regions of Tamil Nadu, from Puducherry to Palayamkottai, are expected to experience heavy to very heavy rainfall until Wednesday due to a deep depression likely to be upgraded to cyclone Fengal. The cyclone is anticipated to maintain its status until midnight Saturday before weakening, with its future movement potentially influenced by a western disturbance from North-West India. Close monitoring of the situation is advised.
Published: Nov 27 2024, 11 ameznews.inThe Congress party has raised alarms over significant economic challenges impacting consumption patterns in India, particularly affecting the urban middle class. Congress general secretary Jairam Ramesh highlighted a report from Marcellus Investment Managers, which points to deteriorating household balance sheets, the lowest net household savings in nearly 50 years, and rising unsecured loans. He noted that these factors have left families with diminished disposable income, exacerbated by a cyclical economic downturn and a faltering post-Covid recovery. Ramesh emphasized that corporate earnings in Q2 FY25 experienced their steepest decline in two decades, while technological disruptions are replacing traditional middle-class jobs with automation. He questioned when Prime Minister Narendra Modi would acknowledge these realities, as the Congress continues to criticize the government for its economic management amid rising unemployment and inflation concerns.
Published: Nov 27 2024, 10 ameznews.inRailTel, the public sector enterprise providing broadband and VPN services for Indian Railways, has refrained from participating in tenders for the KAVACH train collision avoidance system due to concerns over the product's readiness, which is still under testing in collaboration with Quadrant Future Tek. Despite signing a Memorandum of Understanding with Quadrant earlier this year, RailTel's Chairman Sanjai Kumar emphasized the need for caution, stating that the company is actively monitoring the situation and making informed decisions regarding future tenders. The Indian Railways has broken down KAVACH tenders into smaller components, with a total value exceeding ₹2000 crore, and anticipates new LTE tenders in December. Currently, KAVACH 4.0 has been installed across 1,568 route kilometers, with ongoing work on an additional 3,000 kilometers, while bids for 14,735 kilometers are also being invited.
Published: Nov 27 2024, 10 ameznews.inThe India Meteorological Department (IMD) is closely monitoring a deep depression over the south-west Bay of Bengal, which is expected to intensify into cyclone Fengal within the next 12 hours. This system, located approximately 130 km east-southeast of Trincomalee, Sri Lanka, and moving towards the Tamil Nadu coast, has already triggered heavy to very heavy rainfall along the region. Unlike the previous cyclone Dana, which veered away from Tamil Nadu, Fengal is projected to bring significant precipitation to the area. The IMD anticipates that the cyclone will continue to develop and track towards the Tamil Nadu coast over the next two days, while avoiding direct interaction with Sri Lanka. Residents are advised to remain vigilant as the situation evolves.
Published: Nov 27 2024, 10 ameznews.inabCoffee has appointed Rohit Tiwari as its new President of Operations, bringing extensive experience from his previous roles at OYO, Prepladder, and Airtel Payments Bank. Tiwari has a proven track record in scaling businesses and enhancing customer acquisition, having expanded Airtel Payments Bank's network to over 600,000 touchpoints. His leadership experience also includes significant positions at FMCG giants Unilever and Marico. This strategic appointment is seen as a pivotal move for abCoffee as it aims to strengthen its presence in the takeout coffee market, focusing on convenience, affordability, and quality through technology-driven operations. Tiwari's expertise in operational efficiency and distribution network management is expected to align well with abCoffee's growth strategy, targeting new markets and innovative customer engagement channels, as the company seeks to solidify its position as a leading player in the industry.
Published: Nov 27 2024, 9 ameznews.inRajasthan is set to become a new hub for IT development, with plans for an IT city just 50 kilometers from Gurugram, as announced by State Industry and IT Minister Rajyavardhan Singh Rathore. The state government, in collaboration with the Tata Group, will invest ₹10,000 crore to upgrade 100 Industrial Training Institutes (ITIs) to enhance the skilled workforce for various industries. Rajasthan has introduced 21 new policies to attract investment, including land aggregation and a lottery system for smaller units. With significant infrastructure improvements, including two expressways and a freight corridor, the state aims to capitalize on its geographical advantages. Rathore emphasized the urgency of establishing the IT city, promising immediate land availability for companies willing to invest. The state's Gross State Domestic Product is projected to grow significantly, positioning Rajasthan as a key player in India's economic ambitions by 2029.
Published: Nov 26 2024, 8 pmeznews.inUday Shankar Awasthi, Managing Director of the Indian Farmers Fertiliser Cooperative (Iffco), has been awarded the 2024 Rochdale Pioneers Award by the International Cooperative Alliance (ICA) for his significant contributions to the cooperative sector. Awasthi is only the second Indian to receive this prestigious accolade, following Verghese Kurien, who was instrumental in India's white revolution. Under Awasthi's leadership, Iffco has emerged as the largest fertilizer producer in India and the world's largest cooperative by GDP per capita. The award, presented by ICA President Ariel Guarco at the ongoing ICA Global Conference in New Delhi, recognizes innovative and sustainable cooperative practices. Awasthi highlighted the award as a reflection of Prime Minister Narendra Modi's vision of "Sahkar se Samriddhi" and Iffco's commitment to enhancing India's cooperative movement globally, noting the company's development of the world's first Nano Fertilizer.
Published: Nov 26 2024, 8 pmeznews.inIndia is facing challenges in its ongoing negotiations for a free trade agreement (FTA) with the European Union (EU), particularly regarding the EU's carbon border adjustment mechanism (CBAM), which will impose carbon taxes on key imports like steel and cement starting in 2026. While India is unlikely to receive an exemption from these taxes, the EU is open to discussing alternative solutions, including capacity building and mutual recognition of equivalent measures, to address the uncertainties posed by future regulations. Recent talks in Brussels highlighted the need for flexibility from both sides, with the EU seeking tariff reductions and India aiming to mitigate trade barriers. Analysts estimate that the CBAM could impact about 10% of India's exports to the EU, potentially costing the country up to 0.05% of its GDP. The EU, India's largest trading partner, accounted for €124 billion in trade in 2023, and both parties anticipate significant export growth post-FTA implementation.
Published: Nov 26 2024, 8 pm
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