BELAGAVI FRIDAY JUNE 29, 2018 `6.00 PAGES 18 LATE CITY EDITION RUPEE SLIPS TO ALL-TIME LOW OF D69 AGAINST THE DOLLAR Why the Indian currency crashed Flight of dollar from India also reason While there are various factors at play, trade war fears and rising crude oil prices are to be blamed for the current dip. Also, high dollar demand from banks and importers, mainly oil refiners, put the rupee under pressure The continuous flight of dollars from Indian markets may have also made matters worse for the rupee. Rough estimates suggest that foreign portfolio investors have pulled out nearly $10 billion from India since January 68.86 Why it’s a matter of concern Experts say the current situation warrants abundant caution because a combo of higher crude oil prices and falling rupee could wreak havoc in the economy. India being one of the world’s largest oil importers, the implications could be huge THE PREVIOUS LOWEST POINT FOR THE RUPEE, ON NOV 24, 2016 That sinking feeling Will India succumb to US’ pressure? EXPRESS NEWS SERVICE @ Mumbai THE rupee hit an all-time low against the US dollar on Thursday, while markets predict the Asia’s worst performing currency to breach 70-71 levels. High crude oil prices, rising trade war fears, and strengthening US debt yields pulled down not only the rupee but most Asian bloc currencies. Stubborn oil prices add to the current deficit woes of importing economies, while trade war fears spooked markets from Mumbai to Jakarta to Manila, compelling central banks to tighten liquidity by raising rates to shore up currencies, tackle capital flight and inflation. The rupee fell to an intraday low of 69.09 per dol- lar on Thursday but it recovered to 68.79 level following RBI’s indirect intervention by asking state-run banks to sell dollars. The fall exacerbates concerns of an inflated import bill and disrupts fiscal position including the current account deficit. Notably most southeast , Asian markets also fell on Thursday as trade war worries intensified. With sanctions on Iran kicking off from November, India looks for alternative crude oil sources EXPRESS NEWS SERVICE @ New Delhi THE government on Thursday told oil refiners to look for alternative sources of crude oil supply from November, when the US’ oil industry sanctions on Iran are set to come into effect. While India is yet to take a call on US’ demand to halt all Iranian crude imports, might yield to US pressure. Analysts say supply cut is a possibility, but bringing down Iranian imports to zero is not. Iran is currently the third largest supplier of crude to India, with volumes growing over the past few months despite sanction concerns. However, with the US blocking European pay- Govt makes U-turn on extension for CS F AYA Z W A N I @ Srinagar EXPRESS NEWS SERVICE @ Bengaluru MUMBAI PLANE CRASH KILLS FIVE Officials inspect a 12-seater aircraft that crashed in crowded Mumbai suburb Ghatkopar on Thursday, killing both pilots and two aircraft maintenance engineers on board, besides a pedestrian | PTI ANOTHER incident of security forces using civilians as human shield against stone pelters in strife-torn Kashmir has come to the fore. A video has gone viral on social media in which four youths can be seen sitting in front of a police gypsy . The incident has taken place in Choonimal Mohalla of Samboora area of Pampore in south Kashmir’s Pulwama district on June 18, a day after Union Home Minister Rajnath Singh called off Ramadan ceasefire and directed security forces to resume anti-militancy operations. The security forces had launched a joint cordon and search operation in Samboora area after receiving information about the presence of militants there. While police, CRPF and armymen were conducting search operation, they came under intense stone pelting from a group of youth in the area. The youths were pelting stones on securitymen to pave way for the militants to escape. To deter stone pelters, security personnel caught hold of four youths and forced them to sit in front of a police gypsy. The youth were surrounded by the security personnel. A few hundred metres EXPRESS NEWS SERVICE @ Bengaluru DEPUTY Chef Minister and KPCC president G Parameshwara on Thursday war ned ministers against shooting their mouth about the functioning of the coalition government. Taking exception to some of the ministers and even MLAs going to the media expressing their solidarity with former chief minister Siddaramaiah and making comments even against Chief Minister H D Kumaraswamy, Parameshwara reportedly warned the ministers against “discordant notes”. Parameshwara did some tough talk as the party leadership has decided to send a strong message to those trying to indulge in show of strength with Siddaramaiah and in the process causing hiccups in the smooth functioning of the JD(S)Congress coalition government. RASHMI BELUR Yellow card swipes out Senegal, Japan gain Tied on points and goal difference with Japan after their defeat to Colombia on Thursday, Senegal were dumped out of the World Cup due to a poorer disciplinary record. They had picked up six yellow cards, while Japan had only four. Senegal is the first team in World Cup history be knocked out in this manner. @ Bengaluru THE politics of one-upmanship between Public Works Department Minister H D Revanna and Irrigation Minister D K Shivakumar, which is rocking the coalition government, has left more than a dozen Chief Engineers in the lurch. Last month, 19 Chief Engineers, including a few who were promoted from the rank of Superintending Engineer, were transferred from the Senegal 0 Colombia 1 Japan 0 Poland 1 Brazil 2 Serbia 0 Switzerland 2 Costa Rica 2 (Late on Wednesday) ment channels, buying crude from Iran will depend on Iran agreeing to alternate payment options like selling crude for rupees. “It is all very uncertain now and outcomes will depend on how negotiations go forward — between India and the US, India and Iran, and finally India and other suppliers,” an industry source said. ahead, the youths who were indulging in stone pelting told the security peronnel to set them free and take on them. They chanted anti-India and pro-freedom slogans and taunted the security personnel saying, “They have kept our colleagues in front of them so we do not throw stones at them.” The agitating youth continued to chant provocative slogans but did not pelt stones on the securitymen. A senior police officer said they were ascertaining the veracity of the two-minute long video. It was the second human shield incident that has taken place in Kashmir in over a year. DyCM G Parameshwara with ministers D K Shivakumar and KJ George The issue of ministers Ramesh Jarkiholi and Shivananda Patil along with many party MLAs holding confidential meetings with Siddaramaiah at a time when the party leadership was struggling to cope with the ripples caused by the latters video tapes, figured prominently in the meeting. Congress strongman and irrigation minister D K Shivakumar too is said to have warned of strong action against those who work against the interests of the party and coalition government as the party high command wants to ensure that the coalition government functions smoothly for five years. “The Congress high command has taken serious note of the statements and conduct of some of the party ministers and MLAs trying to rally behind some individuals (read Siddaramaiah) as a show of strength. All of you will lose your ministerial berths if this government is brought down. Concentrate on your work instead of indulging in personality-oriented politics,” Shivakumar reportedly said addressing the ministers. According to sources, Shivakumar and Parameshwara issued gag orders to ministers and said that only Rahul Gandhi, AICC general secretary K C Venugopopal and Parameshwara himself are authorised to speak on issues related to the coalition government. P8 Siddu returns after 12-day rejuvenation Former CM Siddaramaiah on Thursday returned to Bengaluru after his 12-daylong rejuvenation session at Shanthivana yoga and naturopathy centre at Ujire. After his exit from the centre at 11 am, he went to Sri Dharmasthala Manjunatheshwara temple but refused to speak to the media. Congress leader Mallikarjun Kharge is likely to meet Siddaramaiah on Friday as the party is said to have asked him to convey concerns about his statements. The meeting also attains significance as Siddaramaiah is set to chair the meeting of Coalition Coordination Committee on July 1. PWD to the Water Resources Department. But the tussle between the two powerful ministers has cut short the joy of promotions and new postings of these engineers. All of them were not allowed to take charge in the Irrigation Department as the incumbents in these posts have not been moved. While the impasse is being seen as an administrative lapse, there is more to it than meets the eye, say sources in the state bureaucracy . According to sources, the transfers from the PWD have not gone down well with the Irrigation Minister as it is said to have been effected without taking him into confidence. “Shivakumar sees it as an attempt by Revanna to dominate him. He is enraged as he was not even consulted before these officials were transferred to the Irrigation Depart- ment,” a source said. Though the PWD is the mother department of Civil Engineers in government service, usually such transfers are effected after due diligence with the Department of Personnel and Administrative Reforms (DPAR), and also with the department to which the engineers are being transferred, in this case the Irrigation Department. It is said that this due diligence was not done in this case with Revanna having his way . P8 IN what could be a move to bring in professionalism among party leaders, the Congress on Thursday conducted an academic excercise to choose spokespersons for the party’s Uttar Pradesh unit. Around 70 Congressmen, both young and old, appeared for the written that UP sends to Parliament and the total strength of UP Assembly were among the questions. They were asked to explain the main areas where the Yogi Adityanath government failed to deliver and the highlights of the Manmohan Singh government. One major excercise was to pick three major headlines of the day and convey the party’s viewpoint through a press release. While the old guns were seen grappling with the questions and striving hard to answer them to hold their fort, the young crowd was seemingly relaxed, depending upon Google to sail through especially to answer the questions based on legislative statistics of the state. On April 9 last year, when bypolls were held for Srinagar parliamentary seat, army men led by Major Gogoi had tied a civilian in front of bonnet of army vehicle in Beerwah area of central Kashmir and paraded him in over a dozen villages to deter youth from pelting stones on security personnel and their vehicles. The incident had evoked widespread condemnation. However, army and central government had extended support Major Gogoi and in fact the Major Gogoi was awarded Army Chief’s commendation card. Health ministry gets slammed for ‘naive’ advice on depression EXPRESS NEWS SERVICE @ New Delhi AN “advisory” by the Union health and family welfare ministry to people battling depression to treat it with tips such as taking multi-vitamins and eating fruits has been slammed by mental health experts for being “naive” and “inadequate”. On Tuesday, the ministry had put out a tweet which said: “#Depression is a state of low mood that affects a person’s thought, behaviour, feeling & sense of well-being. One must take up activities that keep him or her boosted in order to cope with depression.” In a poster that accompanied it, it was also advised that people dealing with the condition should follow a routine, travel, do yoga, take multi-vitamins, sleep for minimum 8 hours, stay clean and be creative. It also advised such pato go for walks, eat fruits and think positive. Experts, however, pointed out that the World Health Organisation defines depression as “the leading cause of ill health and disability Cong conducts written test for UP spokesperson post test, which examined their knowledge of current affairs in general and the par ty in particular. The test was followed by an interview. The candidates were given a paper comprising 14 queries. The number of divisions, districts and blocks in the state, the number of Lok Sabha members Gogoi episode replayed #Depression is a state of low mood that affects a person’s thought, behaviour, feeling... One must take up activities that keep him or her boosted in order to cope with depression. - @MoHFW_INDIA GETTING IT WRITE N A M I TA B A J PA I @ Lucknow RESULTS During the previous round of sanctions on Iran, India was one of the few countries that continued to buy Iranian oil, although it had to reduce imports as shipping, insurance and banking channels were choked due to the European and US sanctions Param talks tough to ministers on aligning with Siddu Revanna-DKS tussle leaves 19 engineers without work Yerry Mina of Colombia celebrates the goal which sent his team to the World Cup pre-quarterfinals | AFP Buying crude oil in times of sanctions Security forces use four youths as human shield against stone pelters in Kashmir JD(S) STRATEGY THE H D Kumaraswamy government has taken a U-turn on giving one more extension of service to Chief Secretary Ratna Prabha. The Chief Minister, who had earlier written to the Centre seeking a three-month extension for her till September 2018, is learnt to have withdrawn the letter at the behest of JD(S) national president H D Deve Gowda. According to sources, the move to withdraw the earlier letter seeking extension was part of the JD(S) strategy of reshuffling officials in key positions appointed by the previous Siddaramaiah government. A large-scale reshuffle of bureaucracy is expected within the next few days. A hint at shunting out some of the top bureaucrats came at a meeting chaired by Kumaraswamy to discuss farm loan waiver. He had earlier said the style of functioning of some of the officers was not in sync with the objectives of his government and had even warned them of stringent action. The issue also figured in the cabinet meeting on Thursday and Kumaraswamy was authorised to take appropriate decision on the appointment of the next Chief Secretary . P5 the Oil Ministry has asked refiners to be ready for a shortfall and make plans to increase supply from other sources like Saudi Arabia, Kuwait etc to make up for any shortage. While India has said it recognises only United Nations sanctions, the warning to refiners has raised concerns that India Govt ‘trivialised’ condition Mukesh Jagiwala, a neuro-psychiatrist in Surat said that the government had “trivialised” depression by suggesting such simplistic steps. “The tips provided in the poster can help people deal with stress but depression is often deeper and can be endogenous, exogenous or reactive.” worldwide.” It also says that more than 300 million people are now living with depression, an increase of more than 18 per cent between 2005 and 2015.” Ajit Bhide, president of Indian Psychiatric Society, said that the government message was “naive” for such a “serious issue.” “The advisory has a set of good lifestyle tips but they are not enough for a condition like depression which can be quite serious and can lead to even suicide.” PRESS INTAKE JD(S) supremo Deve Gowda eyes bigger role at national stage, woos Maya | P5 AP eyeing Bengaluru Plus model for its IT investments | P8 LeT hatched plot to kill Bukhari in pakistan, say cops | P9 Nikki Haley says India is high on US agenda | P11 Blend it like Brazil, Yerry helps Colombia make merry | P16
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