Regulations
Court orders Mallya to appear on July 29
 A Mumbai Special Court on Wednesday ordered Vijay Mallya, head of the defunct Kingfisher Airlines, to appear before it on July 29 regarding money laundering cases filed against him.
 
Special Judge P.R. Bhavake told Mallya, now in Britain, to appear before him at 11 a.m. on July 29.
 
In the Proclamation Order published in Mumbai newspapers, Judge Bhavake said Mallya had committed an offence punishable under the Prevention of Money Laundering Act, 2002.
 
Attempts to serve an arrest warrant on Mallya failed as he "cannot be found" at a care of address of Kingfisher Airlines office in south Mumbai.
 
The Special Court was satisfied that Mallya had "absconded and is concealing himself to avoid the service of the (arrest) warrant" as per the order.
 
Earlier this month, the court declared him a proclaimed offender.
 
Mallya, 60, owes over Rs 9,000 crore to various banks. He left India on a March 2 using a diplomatic passport and is currently in the UK.
 
The Enforcement Directorate is also seeking to invoke the India-United Kingdom Mutual Legal Assistance Treaty (MLAT) to extradite Mallya.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  

 

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CO2 levels breach 400 ppm, to remain for our lifetime
CO2 concentration levels in the atmosphere have risen above 400 parts per million (ppm) for the second year in succession, but this time they will endure for our lifetimes, according to scientists at the Mauna Loa Observatory in Hawaii, global record-keeper of carbon emissions since the 1950s.
 
“Our forecast supports the suggestion that Mauna Loa record will never again show CO2 concentrations below the symbolic 400 ppm within our lifetime,” said a recently-published study conducted by scientists from UK’s Met Office Hadley Centre and Ralph Keeling of the Scripps Institution of Oceanography in La Jolla, California, and published in Nature Climate Change.
 
CO2 levels breached the 400 ppm level last year as well, but when scientists last studied the data during September and October 2015, CO2 at Mauna Loa was below 400 ppm (latest reading for week ending June 26, 2016 was 406.23).
 
“Knowing that CO2 levels have passed this threshold feels quite profound, showing again that humans have made their mark on the Earth’s climate,” Professor Richard Betts of the Met’s Hadley Centre and Exeter University and the lead author of the study told IndiaSpend. “My first reaction was a small sense of nostalgia and even sadness, realising that this was probably the last time those numbers would be measured there.”
 
The paper predicts increasing CO2 concentration in the atmosphere. High levels of CO2 and other gases-methane, nitrous oxide, ozone-and water vapour turn the atmosphere into a greenhouse, which lets in sunlight and traps heat that would otherwise escape into space.
 
This greenhouse effect has driven up the earth’s average surface temperature from 0.6 to 0.9 degrees C between 1906 and 2005, the rate of temperature increase nearly doubling over the last 50 years, according to the Earth Observatory of the National Aeronautics and Space Administration.
 
The 400-ppm level does not have immediate implications. “We did feel that it was a small but significant moment, realising that we had just passed through that threshold,” said Betts.
 
2016’s record CO2 rise has natural and human origins
 
The record CO2 rise - 3.1 ppm against the annual average of 2.1 ppm - this year has both natural and human origins, the study said.
 
The extra one ppm is largely attributed to the impact of El Nino, the warming of the Equatorial Pacific that affects rainfall, dries out tropical land and ignites forest fires, which release CO2.
 
Even the recent normal 2.1 ppm per year increase is higher than it used to be, a consequence of human activity.
 
The overall trend of CO2 concentration is upward-once it is in the atmosphere, CO2 remains there for hundreds of years.
 
This is not the first time CO2 levels breached 400ppm. Last year, they crossed that level briefly and came down again. What the paper suggests is that CO2 will not come down below 400 ppm again because of the strong El Nino during 2015-16.
 
A foretaste of things to come
 
While the recent El Nino made this year’s CO2 rise faster than recent years, it is also faster than the last time the world experienced a strong El Nino in 1997-98 because emissions have increased 25 per ceent since then, Betts explained.
 
“The datum point is 280 ppm. It has crossed 400 ppm. We are in the process of the whole thing building up,” said Sagar Dhara, an independent environmental engineer and energy expert based in Hyderabad, who is not involved with the current study. “If we go down this road, obviously, the impact will be very visible.”
 
Emissions of CO2 and other greenhouse gases released by human activities, such as burning coal, oil and natural gas and deforestation, is warming the Earth every decade, with natural ups-and-downs intra-year within that trend.
 
The impact has been visible in rising global sea levels (ice melts and water expanding as it warms), shifts in the locations and seasonal behaviour of many species and growing instances of extreme weather.
 
For instance, extreme rainfall events in central India, the core of the monsoon system, are increasing and moderate rainfall is decreasing - as a part of complex changes in local and world weather - according to a clutch of Indian and global studies reviewed by IndiaSpend in April 2015.
 
“Although this one single year’s extra CO2 rise will not have an impact in itself, it is a reminder of ongoing changes in climate which would be expected to increase the risks of floods, droughts and disease, which often hit people living in poverty harder as they tend to be more vulnerable,” said Betts, referring to vulnerable countries, such as India, Bangladesh and Sri Lanka and others.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
 

 

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Seventh Pay Commission recommendations approved
New Delhi : The cabinet on Wednesday approved the Seventh Pay Commission Report's recommendations for central government employees, official sources said.
 
The recommendations will impact the some 47 lakh central government employees and 52 lakh pensioners.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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