South Asia

Gaza, Feb 26 (IANS) At least 25 Palestinians were killed in Israeli attacks in the Gaza City on Sunday, medical sources and eyewitnesses said.

Fifteen people, including children, were killed and several others were wounded after warplanes hit a residential building in the Zaytoun neighbourhood of Gaza City, Xinhua news agency reported, citing medical sources.

According to local sources and eyewitnesses, the warplanes fired a missile at the three-story house without prior warning.

According to Israel's state-owned Kan TV news, the Israeli army has been conducting operations in the neighbourhood since February 20, targeting infrastructures belonging to the Hamas movement.

On the same day, 10 Palestinians were killed in Israeli airstrikes on the coastal road west of the Gaza City.

Local sources and eyewitnesses reported that Israeli forces launched artillery shells and conducted airstrikes targeting individuals waiting for aid trucks, killing 10 of them and injuring others.

--IANS

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New Delhi, Feb 9 (IANS) All the emerging markets indices saw negative performance in January with China being the worst performer at 10.6 per cent. As far as developed markets are concerned, Japan emerged as the best performer at 4.6 per cent, as per a report by Motilal Oswal Asset Management Company.

Nifty 50 declined by -0.03 per cent in January 2024. However, the index has shown positive growth since the past year, the report said.

This year's turmoil in China has sparked a stock meltdown, blown up structured financial products, led to public disgruntlement, and now Chinese President Xi Jinping has put a new market regulator in control, Bloomberg reported.

Yet powered by the US tech euphoria, global equities are approaching records, haven assets are out of favor and even neighboring Asian markets are relatively unscathed. Chinese assets are out of sync with the rest of the world, with a measure of global financial market volatility trending lower this year, Bloomberg reported.

It's a stark contrast to what happened when China's bubble burst in 2015 and the world's two largest economies engaged in a trade war in 2018, which led to a synchronised drop in global shares. This time around Beijing's woes remain an isolated affair after an exodus of international capital, Bloomberg reported.

With the selloff extending after three straight years of declines, even once-staunch China bulls including Goldman Sachs Group Inc. have been forced to rethink their views. If foreigners are not coming back, it will make Xi's mission to engineer a market recovery more difficult to achieve. It’s also more fodder for investors looking to funnel capital to the pre-eminent US market and elsewhere in Asia instead, Bloomberg reported.

Over the past three years, about $6 trillion -- equivalent to roughly twice Britain’s annual economic output -- has been wiped off the value of Chinese and Hong Kong stocks, CNN reported earlier.

The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future, CNN reported.

Foreign brokerage, Morgan Stanley said in an earlier report in January that it continues to prefer Japan and India versus overall EM and China this year.

Japan remains a key OW market at the global equity level with a TOPIX base-case target price of 2600 (+4 per cent upside) and a rising likelihood of our bull case of 2800 (+12 per cent upside) coming into play as fund re-allocations to Japan have been high year to date driving multiple expansion.

India looks solid on most parameters – strong flows, earnings growth and macro-outlook, BNP Paribas said in India Strategy Report 2024. Strong domestic and FPI flows into Indian equities boosted domestic stocks in 2023. We see no reason for this to change. The macro environment seems favourable with inflation easing. For the US, Also, in terms of underlying fundamentals, India has seen double-digit earnings growth with minimal consensus downgrades in recent quarters.

India continued its stellar performance in CY23 as it emerged as one of the best performing markets, trailing only the US and Taiwan, led by factors such as: 1) solid domestic macro environment; 2) strong domestic flows; 3) resurgence of FII inflows post March 2023; 4) resilience in corporate earnings; and 5) easing inflation fears and expectations of global interest-rate cuts, the report said.

--IANS

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Islamabad, Feb 9 (IANS) Even as delay in general polls outcome raised many eyebrows including that of Pakistan Tehreek-e-Insaf and a US lawmaker, interior ministry claimed that it is happening due to lack of connectivity.

The ministry said that internet was suspended on the poll day to ensure security, Dawn reported.

In a post on X, the ministry said that the delay was assessed, stating that the situation was now "satisfactory" .

It expressed hope that the arrival of results would continue without interruptions.

Earlier in the day, US lawmaker Brad Sherman has said that there should be no "unwarranted" delay in announcing results.

In a post on X, he said: "Press organizations in #Pakistan should be free to report vote tabulations and there should be no unwarranted delay in announcing results."

PTI-backed candidate Basharat Raja for Rawalpindi's NA-55 constituency has alleged a discrepancy in between Form 45 and Form 47 results.

The PTI has said its supporters have "shocked and worried the entire system with the historic turnout" during the general elections 2024.

It has alleged that election results are now being withheld "fearing the historic victory" of the party.

As political parties cried foul about delay in poll outcome and questioned the poll watchdog, the ECP directed all the provincial Election Commissioners and Returning Officers to announce the results within half an hour or else face strict action.

To form the government in the country, a party needs to secure win on 133 of the 265 seats. Polling was postponed on one seat after death of a candidate.

--IANS

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New Delhi, Feb 9 (IANS) Bollywood star Akshay Kumar has heaped praise on 'Uri' helmer Aditya Dhar's upcoming film 'Article 370' starring Yami Gautam Dhar. After watching the film's trailer, he commented that it "looks full of passion."

Kumar, who played a patriot and hero in several films, including 'Holiday' and 'Baby', also reiterated that Kashmir is an integral part of the country.

"Kashmir was, is, and will always be a part of India #Article370Trailer looks full of passion!," the 'Special 26' star wrote in Hindi on X. The original in Hindi read: "Kashmir Bharat ka hissa tha, hai aur hamesha rahega."

The actor also extended his best wishes to Yami. "All the best, Jai Hind! @yamigautam @jiostudios," he wrote on the micro-blogging site.

Notably, in December last year, the Supreme Court had upheld the abrogation of Article 370 by Parliament on August 5, 2019. The film's trailer, which also has as Priyamani of 'Family Man 2' fame, offers glimpses of how Article 370, which gave special status to Jammu and Kashmir, was abrogated in response to the dire situation of Kashmir.

The trailer showcases Yami's character reflecting on the state of Kashmir, pained by the events in the region. The viewers are soon thrown into the action set-piece consisting of blasts and violence and separatists making inflammatory speeches.

Priyamani essays the role of an officer with the PMO; the trailer shows Yami's character being appointed by the NIA to round up potential threats in the Valley in order to ensure there's no trouble after the Act of Parliament.

Produced by Jyoti Deshpande, Aditya Dhar and Lokesh Dhar, the film is slated to release on February 23.

--IANS

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New Delhi, Feb 9 (IANS) A Visionary Step in Environmental Conservation and Public Safety Josler Hydrocarbons India Pvt Ltd, a prominent gas leak detection firm based in Ahmedabad, has played a vital role in holistically enabling its US based technological partner Heath to sign a groundbreaking Memorandum of Understanding (MoU) with MNGL.

Josler Hydrocarbons has been a parter with Houston based company Heath for over 10 years in proving leak instruments and services to all reputed Indian companies.

Ever since 2019, when Josler entered the gas leak detection field, it has achieved significant milestones, surveying over 13,000 kilometers of gas pipelines for leading City Gas Distribution companies across India.

These surveys, conducted by teams trained in advanced methodologies from Heath and utilizing sophisticated equipment, have notably improved the safety, environmental impact, and financial integrity of India's City Gas Distribution (CGD) ecosystem by substantially reducing methane emissions and curbing financial losses from unaccounted gas leakage.

The MoU represents a crucial aspect of the energy collaboration announced by Prime Minister Narendra Modi and US President Joe Biden at the Leaders’s Summit on Climate in April 2021. Operating under the US-India Low Emission Gas Task Force (LEGT).

Speaking at the sidelines of MoU signing, Neel Mehta, Director, Josler explicated that this is agreement positions MNGL, Heath, and Josler to jointly explore opportunities in mitigating fugitive methane emissions, preventing damage to underground utilities, recovering waste heat, accurately locating underground gas lines, and enhancing overall public safety.

Reflecting on this significant milestone, Josler's Chairman Sudhanshu Mehta, emphasised, "This Memorandum of Understanding embodies Josler's commitment to 'Keeping Indian Skies Safe and Clean'. It underscores our unwavering dedication to pioneering innovative approaches in the energy sector that prioritise environmental conservation and public safety."

Josler Hydrocarbons India Pvt Ltd is a diversified group that operates in Oil and Gas, IT & ITES, Perimeter Intrusion Detection Systems, City Gas Distribution Solutions, Telecom, Solutions for Smart City development, Encrypted Secure Communication, catering the wider needs to clients requirements.

Josler started its activities with base at Ahmedabad in Gujarat, the oil capital of Western India in the year 2008 with evaluation of exploration blocks for bidding in NELP-VII Round of Govt. of India. The journey continued through the years 2009 and 2010 with evaluation of prospective exploration blocks in NELP-VIII and NELP-IX.

--IANS

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Islamabad, Feb 9 (IANS) As the counting of votes for the national elections is underway, Pakistan Tehreek-e-Insaf on Friday claimed to have leads on over 150 seats, and asked PML(N) supremo Nawaz Sharif to "accept defeat".

PTI on its official handle on X said: "Show some grace @NawazSharifMNS, accept the defeat! People of Pakistan will never accept you. This is a golden opportunity to regain some credibility as a democrat. Daylight robbery is going to be rejected massively by Pakistan! #PTIWon #RespectMandate."

In a video message posted on PTI founder Imran Khan's X handle, party chief Gohar Khan said: "We will be making the next government in Pakistan, Punjab and Khyber Pakhtunkhwa provinces.

"Attempts are being made to change the results. According to Election Act, results have to be announced by 2 p.m. However 100 per cent results are yet to be announced. I urge the Election Commission of Pakistan to announce the results as soon as possible," Gohar, who has won NA-10 in Buner with 110,023 votes, said.

PTI-backed candidates Fazal Muhammad Khan has won NA-25 Charsadda II Muhammad Abdul Salam and Sultan Room have won their seats from PK-58 Mardan and PK-9 Swat, Iftikharullah Jan has emerged victorious with 39,538 votes in PK-64 Charsadda III, Dawn reported.

PTI-backed candidate Saleem Rehman has won from Swat's NA-3 with 81,411 votes, according to the preliminary result announced by the ECP.

Meanwhile PML-N's Marriyum Aurangzeb has said that the party will form the government in the Centre and Punjab province.

In a post on X, she said that the results were still being received by the party’s election cell.

"Due to the unavailability of mobile and internet services, it became difficult to get the results,” she said, adding that the party's position was "strong".

To form the government in the country, a party needs to secure win on 133 of the 265 seats. Polling was postponed on one seat after death of a candidate.

--IANS

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San Francisco, Feb 9 (IANS) US-based car-sharing company Getaround, which helps vehicle owners rent out their cars, trucks and SUVs to other peers, has announced to lay off 30 per cent of its workforce as part of a restructuring.

In a message to employees, Getaround founder and CEO Sam Zaid said that the decision to lay off workers is part of the company's plan to better meet the global nature of the carsharing business.

“Our focus on profitability and sustainable business growth necessitated this difficult workforce reduction program,” Zaid said in a statement.

"We’ve made significant progress over the past year, including steady improvements in revenue growth and unit economics, as well as in overall adjusted EBITDA profile and operating efficiency," he added.

The latest job cuts will affect the company’s North American staff, effective immediately.

The company anticipates that this cost-reduction program will result in savings of approximately $7 million on an annualised run-rate basis. It also expects to incur up to $1 million in restructuring costs in connection with the workforce reductions.

"While we believe this restructuring plan is the right decision for the business, it does not diminish the challenge of letting talented colleagues go, or the gratitude we have for the dedication and professionalism of the team," Zaid said.

The affected will receive up to 12 weeks of severance, full benefits through the end of February 2024 along with pay for three months.

In February last year, Getaround laid off about 10 per cent of its workforce with immediate effect as part of a restructuring, with an aim to put the company on the path to "sustainable profitability and long-term growth".

--IANS

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Tel Aviv, Feb 9 (IANS) An elderly Israeli citizen, who was believed to be kidnapped during the October 7 attack, died on that day itself and his body is being held by Hamas in Gaza, southern Israel village community Kibbutz Be'eri said.

The family of Manny Godard, 73, has been informed that he was murdered during Hamas October 7 attack on Israel and that his body is being held by terrorists in Gaza.

Immediately after the attack, there was no trace of Godard and family presumed that he was in the custody of Hamas. However after none of the hostages, who were released from Hamas custody during the weeklong ceasefire from November 24 to December 1, claimed to not have seen him during their custody period, there was skepticism in his family as well as community whether he was alive or not.

However, there was no formal announcement until now.

Godard's wife Ayelet called one of their children on October 7 screaming that her husband had been killed and that she was hiding in the bushes from the terrorists.

Ayelet's body was found and identified nearby two weeks later, but Godard's body was not recovered.

The couple is survived by their children, Mor, Gal, Bar and Goni, as well as six grandchildren and several siblings.

A eulogy posted on the kibbutz website on Thursday remembered Ayelet as a longtime educator, "a special teacher, one from days gone by, the kind who brought nature into the classroom and took the children outside," and who shaped many of the youths who grew up in the Kibbutz and nearby.

She was an "incredible mother and a revered grandmother," who also "believed with all her heart in the Kibbutz and its members, and was an active part of Kibbutz life".

Godard, the community said, had "a love of sports, the ocean and people". He was a professional soccer player in the 1970s before enlisting in the army and fighting in the Yom Kippur War.

In the Kibbutz, he worked in a successful printing house, a local store, as chief economist and a lifeguard.

--IANS

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New York, Feb 9 (IANS) Indian-American doctor Amish Shah has stepped down from the House of Representatives in the US state of Arizona to focus on his congressional campaign.

The first Indian-American to serve in the Arizona legislature, 46-year-old Shah announced his run as a Democrat last year from the state's 1st Congressional District, which is presently held by Republican David Schweikert.

"With mixed emotions, I resigned as your House Rep this week to pursue my Congressional campaign. Serving at the State Legislature was an incredible honor, offering diverse perspectives. As a Congressional candidate, I am eager to bring our collective values to the national stage," Shah wrote in a post on X.

Along with Shah, an emergency physician for over 15 years, at least six other candidates are seeking a Democratic-run from the district, which covers parts of Scottsdale and northern Phoenix.

The top issues Shah is running on include education, healthcare, and voting rights, and according to his website, he wants fair wages for workers, universal healthcare, and abortion access.

Thanking Shah for his service and leadership, the Arizona House Democrats said on X: "Worth your time. @DrAmishShah bids a fond and thoughtful farewell to his House colleagues. Dr Shah, who is running for Congress, resigned today after 5 years in office and a tremendous track record of bi-partisan legislation".

Shah’s departure leaves three empty Democratic seats in the House amidst the legislature’s bill season, Arizona-based KGUN9 news channel reported.

Shah said in a release that he raised more than $530,000 from individual donors in the opening quarter of his congressional campaign, and over 75 per cent of these donors were from Arizona.

According to his campaign statement, he has made a name for himself with his unique brand of door-to-door campaigning, having visited over 15,000 households, and to date, he has had more bills signed into law than any other Democrat currently in the Arizona legislature.

"Giving back is a core value for me. Because of the sacrifices of my parents, who both came to this country from India to pursue a better life, I was able to become a doctor... and be the first Indian-American to serve in the Arizona legislature," Shah said in an earlier statement.

Born and raised in Chicago, Shah's parents were engineering students who immigrated from India in the 1960s.

He attended Northwestern University in Evanston and graduated cum laude with a Bachelor of Arts in Economics.

He graduated from the Northwestern University Medical School as part of the Honors Program in Medical Education.

Outside of his medical practice, he founded the first Arizona Vegetarian Food Festival as a philanthropic endeavour to promote healthy eating.

He was named the 2022 Women's Health Care Champion Legislator of the Year by the American College of Obstetrics and Gynecology for his work protecting reproductive rights.

He also received the Nursing Hero Award in 2022 from the Arizona Nurses Association and the President's Award for Mental Health Advocacy from the Arizona Psychiatric Society.

--IANS

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Sanaa, Jan 15 (IANS) The US and the UK have conducted a new strike on Yemen's Red Sea port city of Hodeidah, the Houthi-run al-Masirah TV has reported.

The strike conducted on Sunday evening targeted the Jad'a mountain in the Alluheyah district in the northern part of the city, Xinhua news agency reported, citing the report.

The strike was the latest in a series of similar air raids carried out by US and British warplanes in the past three days.

The US and the UK have stated that the strikes came in an attempt to deter the Yemeni Houthi group from launching further attacks on international shipping in the Red Sea, a vital waterway for global trade.

The Houthis said that their operations in the Red Sea aimed to prevent what it called "Israeli-linked ships" from passing through the Red Sea until Israel ends its attack and siege on the Palestinian enclave of Gaza Strip.

On Saturday, the Houthis said the recent airstrikes on their positions by the US and the UK would not deter them from continuing attacks on Israeli targets, vowing to launch more strikes soon.

Hodeidah, under the control of the Houthis, is a lifeline for delivering humanitarian aid and commercial supplies to Yemen, which has been mired in a civil war since 2015.

--IANS

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