Progressive Financial News

Silkyara tunnel rescue operation may take more time than expected, as the US-made auger machine used for cutting horizontally through the debris has broken down. The focus now is on vertical and manual drilling. «It will take time,» NDMA member Lt Gen (retd) Syed Ata Hasnain told the media, briefing on the progress of the operation to bring out the workers trapped in the tunnel. Everything has to be done with utmost care, he said. Vertical drilling may start in the «next 24 to 36 hours» as machines are being placed on a platform on top of the tunnel, he said.

India, South Africa and Egypt have told the World Trade Organisation (WTO) that the informal discussions on dispute settlement reforms — initiated and led by the US last year — are not a substitute for multilateral talks and favour the participation of the resource-rich delegations. In a submission to WTO on Friday, they said such a process has resulted in «differential access of delegations to the evolving text and discussions». Informal discussions do not allow for virtual participation of capital-based officials, which hinders the involvement of the developing and the least developed countries (LDCs), they said. «The drafting process deviates substantially from the accepted practice at the WTO,» the three countries said, adding that the «format and pace of the discussions have made it challenging» for most developing countries to effectively participate, consult with capitals, present their views, submit comprehensive proposals and review the progress. WTO's informal talks on dispute settlement reforms began in April 2022. «More developing countries should join hands and raise their voice against this informal process as well as other issues, otherwise the outcome may not be in their interest,» said Abhijit Das, an expert on WTO issues. The three nations pointed out that the informal meetings often overlap with formal WTO meetings and negotiations, the composition of the drafting groups has not been made public, members cannot submit their own textual submissions on any aspect that is of importance to them, and the allocation of topics and responsibilities in the drafting groups is done by the volunteer convenor. This lack of record-keeping creates information asymmetry and has resulted in differential access

S Somanath has emphasised on the need to de-regulate controls in the space sector to foster improved growth. The scientist has said that unnecessary controls impedes the progress of the space sector.

Ayodhya will soon become the first Vedic sustainable city powered by artificial intelligence, according to a Times of India report. The Ayodhya Development Authority has inked a Memorandum of Understanding (MoU) with a Delhi-based firm, Arahas Technologies Pvt Ltd, to establish a Vedic sustainable city index platform. The platform's primary objective is to facilitate decision-making for the implementation of sustainable practices, addressing the burgeoning needs of the local population.

Narendra Modi will attend the inauguration of the Ram Temple in Ayodhya on January 22, 2024. The office bearers of Shri Ram Janmbhoomi Tirtha Kshetra along with religious leaders, went to invite the Prime Minister. The foundation stone of the Ram Temple in Ayodhya, was laid by Narendra Modi on August 5, 2020.

Uttar Pradesh Chief Minister Yogi Adityanath on Saturday alleged that the "Muslim reservations" in Telangana are an insult to the Constitution made by Dr B R Ambedkar. Addressing a poll rally in Kumuram Bheem Asifabad district in Telangana, he said the reservation to Muslims is «unconstitutional» and it should not be allowed to be implemented at any cost.

Silkyara tunnel may take time with the auger machine facing repeated troubles and the focus is now on vertical drilling to bring out the 41 trapped workers. Briefing the media on the progress of rescue operations, NDMA member Lt Gen (retd) Syed Ata Hasnain said that «it will take time» to bring out the trapped workers as everything has to be done with utmost care. The focus is now on vertical drilling and the operations may start in the «next 24 to 36 hours» as machines are being placed on a platform on top of the tunnel, the member said.

Ashwini Vaishnaw, took to social media platform X to announce achievement in the mobile industry. In a post, he revealed that the Indian mobile industry has experienced exponential growth, expanding by a remarkable factor of 20 in just nine years. Minister Vaishnaw posted on X, «Met Mobile industry to review progress. Industry has grown 20 times in 9 years.

By Yatharth Gulati

gold closed with a weekly gain of nearly 1.10% at $2002.85 as traders look forward to a possible Fed pivot. The metal gained 0.60% Friday. S&P Global US PMI data was released Friday. US manufacturing PMI (November preliminary) at 49.40 trailed the forecast of 49.90, however, services and composite PMI at 50.80 and 50.70, respectively topped the respective estimates of 50.30 and 50.40.

Taiwan to make biological weapons at a lab run by the island’s defence ministry, the report claimed. Taiwanese and American officials denied it. The allegedly leaked minutes, it transpired, were not written in the usual style of Taiwanese government records.

Chief Justice of India D Y Chandrachud on Saturday said identity and its recognition by the State plays a crucial part in what resources people get and their ability to express their grievances and demand their rights. Addressing the plenary session of the 36th 'LAWASIA' conference virtually, he spoke on «Identity, the Individual and the State — New Paths to liberty».

Writer is Union minister of state for entrepreneurship, skill development, electronics & technologyAfter several decades of r

(In Nov 21 story, corrects paragraph 10 to say services prices 'accelerated to 4.6%, the largest increase', not 'accelerated 4.6%, the fastest pace')

Square Enix officially confirmed Final Fantasy 7 Rebirth's release date as February 29, 2024, during the PlayStation State of Play in September 2023. The game will remain exclusive to PS5 until at least May 29, 2024. Additionally, part 3 is in active development, marking the final chapter in the FF7 Remake series.

semiconductors that covers cooperation in areas such as research and innovation, talent development, partnerships and exchange of market information, the external affairs ministry said. The MoU was signed ahead of the India-EU Trade and Technology Council that was held virtually on Friday.

COP21, the UN Climate Change Conference, led to a new international climate agreement, applicable to all countries, aiming to keep global warming at 1.5-2° C, in accordance with the recommendations of the Intergovernmental Panel on Climate Change (IPCC). Since then, progress on reducing CO2 emissions has been glacial. The Covid pandemic shifted attention away from climate change for a while. But global economic slowdown also led to a slowdown in global emissions increases.

Nearly a year after the dramatic collapse of FTX, several former executives of the defunct cryptocurrency exchange have banded together to launch a new venture in the digital currency space. This new endeavor, named Backpack Exchange, is set to reshape the crypto landscape with a focus on enhanced security and regulatory compliance.

Air Staff (CAS) Air Chief Marshal V R Chaudhari on Friday said there was a need for IAF's training methodology to evolve and assimilate new technologies for enhancing training effectiveness. Addressing commanders of all the IAF training establishments under Training Command during the Training Command Commanders' Conference held at Headquarters Training Command here, he exhorted them to encourage innovative teaching methodology and stay abreast with best practices across the world.

The first days on a job can be energizing, nerve-racking, disorienting and a little awkward, which is precisely how Jeff Sansone felt almost 30 years ago when he stepped behind the shiny new bar in Canoe Restaurant for his first shift.

NDRF on Friday demonstrated the movement of wheeled stretchers within the pipeline to facilitate the rescue of 41 trapped workers in the Silkyara Tunnel, with plans to deploy the stretchers once the horizontal pipe reaches the opposite side. As reported by ANI, the 25-ton platform supporting the Heavy American Auger machine, crucial for drilling through debris, has undergone reinforcement using a concrete accelerating agent for quick concrete hardening.