Nation
Two buses with 22 persons aboard missing in Maharashtra
At least two buses and several other vehicles went missing near Mahad city after a bridge on the Savitri River collapsed early Wednesday due to torrential rains in the Konkan region.
 
The bridge, more than seven decades old and a critical link to the Mumbai-Goa national highway, crashed around 1 a.m. due to the flood waters rushing into the river.
 
Two state transport buses with 11 passengers each were missing and there was no contact with either their drivers or the passengers, Raigad Collector Sheetal Ugale said.
 
Since the Maharashtra State Road Transport Corporation buses -- which started from Mumbai -- did not arrive at their scheduled Mahad depot, Ugale appealed people to get in touch with the concerned authorities about their missing relatives.
 
Locals said that around five to six private vehicles were also missing and they were feared to be washed away in the floods.
 
A search operation have been initiated, Ugale said.
 
"The bridge was built during the British era. After discussion with the National Highways Authority, we have shifted traffic to the new parallel bridge nearby. We are trying to confirm reports of other missing vehicles," Ugale said.
 
Rehabilitation Minister Chandrakant Patil said helicopters would be deployed and the help of defence forces was taken to search the missing vehicles.
 
Meanwhile, a 45-member National Disaster Response Force team reached Raigad from Pune to assist in the rescue operations.
 
Incessant rains continue to lash the coastal Konkan, northern and western Maharashtra since past five days.
 
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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Nifty, Sensex still struggling to go up – Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex were struggling to head higher. The major indices of the Indian stock markets were range-bound on Tuesday and closed with minor losses over Monday’s close. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
Negative global cues coupled with profit booking subdued the Indian equity markets during the mid-afternoon trade session on Tuesday. Consequently, the key indices traded slightly in the red, as selling pressure was witnessed in metal and healthcare stocks. However, increased chances of a key economic legislation's passage during parliament's monsoon session, value buying and positive macro-economic data supported prices at lower levels. On the NSE, there were 411 advances, 1,033 declines and 46 unchanged. Banking stocks traded sideways to firm on some buying support. Most sugar sector stocks faced profit booking, while auto stocks held their initial gains. 
 
Australia's central bank cut the official cash rate to a new record low of 1.5% on Tuesday as inflation "remains quite low" despite the local economy continuing to make necessary adjustments. Reserve Bank of Australia (RBA) Governor Glen Stevens said the subdued growth in labour costs and low cost pressures globally are meaning inflation will remain quite low for some time. "Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting," Stevens said in a statement on Tuesday. The Australian dollar initially fell to 74.92 US cents on the release, from 75.40 US cents just prior, however by 2.50 p.m., traders shrugged off the decision, with the unit trading at 75.26 US cents. This is likely to give a fillip to the major Asian indices, where the stock markets finish trading ahead of time as compared to Indian stock markets.
 
Indian drug major Sun Pharmaceutical Industries Ltd on Tuesday said it will launch the generic version of Glumetza, Metformin Hydrochloride tablets - a diabetes drug - soon in the US. The company said in a statement, that one of its subsidiaries got the final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for generic version of Glumetza, Metformin Hydrochloride extended release tablets 500 mg and 1,000 mg. "These Metformin Hydrochloride extended release tablets are therapeutic equivalents of Santarus Inc's Glumetza tablets," the statement said. The tablets may have annual sales of around $1.2 billion in the US, the company added. The company’s shares closed at Rs830.00, down 0.61% on the BSE.
 
Coal India Ltd (CIL) on Monday reported a 5.4% rise in its production for the month of July this year to 36.74 million tonnes (mt) as compared to 34.83 mt produced in the same month last year. According to provisional data, coal behemoth's July production achieved 91 percent of the target set for the month at 40.29 mt. CIL's off-take also rose by 1.4% in the last month to 41.47 mt as compared to 40.88 mt in the year-ago month. The miner produced 125.65 mt of coal in April-June quarter of the current fiscal against a target of 132.43 mt. It achieved 95% of the production target set for the quarter. However, its production grew by 3.5% in the period as compared to 121.33 mt produced in the corresponding period last year. The miner set a target of 598.60 mt of production in the current fiscal. For 2016-17, its off-take target was set at 598.61 mt and out of this, 450 mt will be supplied to power sector utilities. In the last fiscal, the miner produced 536.51 mt of coal against a target of 550 mt and its off-take stood at 532.26 mt. CIL shares closed at Rs323.35, down 0.90% on the BSE on Tuesday.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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Only 25% Indian teenagers happy with mobile service providers
Only a quarter of teenagers in India feel communications service providers understand their lifestyle and offer services to match it while 36 per cent said they were experiencing poor customer service for over a year, a survey revealed on Tuesday.
 
Announcing the results of a global study into the digital behaviour and expectations of teenagers (aged 15-18), the US-based customer experience solutions provider Amdocs found that 49 per cent of Indians will not use the same provider again owing to poor consumer service.
 
The results showed that 71 per cent (43 per cent globally) teenagers believe their smartphone makes them smarter and "cooler", while 68 per cent (52 per cent globally) check their social media accounts first thing in the morning.
 
"More than 60 per cent (31 per cent globally) said they would probably not meet someone again if they did not have a WhatsApp account," the researchers noted.
 
Seven in 10 respondents (47 per cent globally) said they prefer using emojis to sending emails as it allow them to express their feelings more clearly than words. A similar number said the same about posting photos (45 per cent globally).
 
Teenagers demand constant internet connectivity, with 77 per cent of respondents (56 per cent globally) saying they are likely to feel anxious and alone if separated from the internet -- more than being separated from family. 
 
"The value of internet access is so significant that 75 percent (55 percent globally) strongly believe fast internet access to be a human right," the survey noted.
 
Seventy per cent respondents stream videos, reflecting streaming over downloads as the preferred platform and only 20 per cent actually download content.
 
Nearly 95 per cent of respondents expressed the desire to have an internet-connected device embedded in their arm, with 47 per cent seeing it as a replacement for their smartphone. 
 
Meanwhile, 66 per cent believe many jobs will ultimately be replaced by robots while 57 per cent even believe a robot will become their best friend.
 
The study, commissioned by Amdocs and conducted by Vanson Bourne, a technology market researcher provider, included 4,250 respondents from India, Britain, the US, Canada, Brazil, Germany, Russia, Mexico, the Philippines and Singapore.
 
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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