India-Aus agree to further enhance trade relations

NEW DELHI, MAR 12

(IANS): India and Australia on Sunday acknowledged the significance of their trading relations, as bilateral trade exceeded $31 billion during the last financial year.

Commerce Minister

Piyush Goyal and Australia’s trade minister Don Farrell met to discuss next steps for further enhancing the bilateral economic relationship. They discussed implementation of the economic cooperation and trade agreement (ECTA), negotiations for the India-Australia Comprehensive Economic Cooperation Agreement (CECA) and further developing twoway investment.

Both the ministers agreed that given the trade complementarities between the two countries, there is considerable potential for significantly enhancing bilateral trade within the next five years. The ministers also discussed engagement in the G20, the Indo-Pacific Economic Framework (IPEF) and the World Trade Organisation (WTO).

They agreed that Australia and India share high ambition for the IPEF, as evidenced at the special round of IPEF negotiations in New Delhi, and would continue to work together though IPEF on areas of mutual interest, including the clean economy and resilient supply chains.

Both Goyal and Farrell noted that Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese look forward to swift progress in negotiations and for an early conclusion of an ambitious Comprehensive Economic Cooperation Agreement (CECA), which will build on the foundation laid by the ECTA, including new areas of trade, investment and cooperation. CECA will create new employment opportunities, raise living standards and improve the general welfare in both countries.

The ministers look forward to concluding CECA

NEW DELHI, MAR 12 (PTI): Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit amid an overall weak trend in equities.

During the holiday-shortened week, the 30-share BSE Sensex declined 673.84 points or 1.12 per cent amid concerns over the quantum of the next interest rate hike by the US Federal Reserve.

Barring Bharti Airtel and ITC, eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Reliance Industries plummeted by Rs 41,878.37 crore to Rs 15,71,724.26 crore, the most among the top 10 firms. The mcap of ICICI Bank tumbled Rs 18,134.73 to Rs 5,88,379.98 crore. The valuation of HDFC Bank tanked by Rs 15,007.38 to Rs 8,86,300.20 crore, and that of State Bank of India eroded by Rs 12,360.59 to Rs 4,88,399.39 crore. HDFC’s market valuation diminished by Rs 6,893.18 crore to Rs 4,77,524.24 crore. Tata Consultancy Services’ (TCS) valuation slumped by Rs 4,281.09 to Rs 12,18,848.31 crore.

Oppn-less Govt: focus on Naga pol solution and ENPO demand

(From p-1)

Silsako Beel eviction: Assam govt to acquire land allotted to 17 institutions

(From p-1) as soon as possible, are pleased with the progress resolving various bilateral technical market access issues and look forward to continuing engagement.

They highlighted the importance of a smooth and timely clean energy transition as both countries work towards achieving their respective net zero goals.

The ministers noted the complementary nature of Australia and India’s economies and committed to further enhancing economic, technology, and trade and investment cooperation to get to net zero emissions.

Goyal and Farrell reaffirmed the importance of the multilateral trading system, with the WTO at its core. They agreed to build on the success of the 12th WTO Ministerial Conference in Geneva and reaffirmed their commitment towards improving WTO functions and having a fully functioning dispute settlement system by 2024.

They also agreed to work towards a productive engagement in the run-up to the 13th WTO Ministerial Conference to be held in Abu Dhabi in 2024.

All non-NDPP and non-BJP political parties which won seats in the recently held assembly election, have announced support to the Rio-led coalition government. Whether the ‘support’ will be with or without pre-condition is not clear. A pre-condition means given some position as part of the government. However, in the UDA the four NPF legislators in the previous house were not given any official position. It may be recalled that the opposition-less government phenomenon first started in Nagaland in 2015 (under NPF-led DAN III which included BJP and Congress).

The second was in 2021 under PDA after 25 opposition NPF legislators joined the government to form the United Democratic Alliance (UDA).

Govt to infuse more capital in public sector general insurers

NEW DELHI, MAR 12

(PTI): The government may have to infuse more capital in the three public sector general insurance companies to improve their financial health, a senior government official said.

The government last year provided Rs 5,000 crore capital to three insurers --National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company. Based on the performance in the FY23, the finance ministry would take a call as to how much capital they would require to meet regulatory requirement, the official said. They are not in good financial health and fund would be infused in these entities to augment their solvency margin, the official added. The solvency margin is the extra capital the companies must hold over and above the claim amounts they are likely to incur. It acts as a financial backup in extreme situations, enabling the company to settle all claims. As per the regulator IRDAI’s mandate, the minimum solvency ratio insurance companies must maintain is 1.5 to lower risks. In terms of solvency margin, the required value is 150 per cent.

Assembly poll results in 3 NE states set the tone...

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Assam Congress President Bhupen Bora, who called the meeting, said that they would check the division of votes in the next year’s Lok Sabha polls in Assam as the BJP always gets electoral mileage due to the division of votes.

Since 2014, the Congress leaders of the northeastern region who left the party include Himanta Biswa Sarma, Sushmita Dev and Ripun Bora (Assam), Manik Saha, Ratan Lal Nath (Tripura), N. Biren Singh (Manipur), Pema Khandu (Arunachal Pradesh), Neiphiu Rio (Nagaland), Mukul Sangma and Ampareen Lyngdoh (Meghalaya) causing a serious setback for the party.

The chief ministers of five of the North Eastern states -- Himanta Biswa Sarma (Assam), Manik Saha (Tripura), N. Biren Singh (Manipur), Pema Khandu (Arunachal Pradesh), Neiphiu Rio (Nagaland) -- are former Congress leaders and now in the BJP, running the saffron party-led governments.

The Congress’ downfall in the politically important northeast region began after the BJP’s emergence as Prime Minister Narendra Modi-led National Democratic Alliance (NDA) came to power at the Centre in 2014 after defeating the United Progressive Alliance headed by the Congress.

With Nagaland moving towards opposition-less gov- ernment following all MLAs of most of the parties extending support to Neiphiu Rio-led NDPP-BJP alliance government, Assam chief minister Himanta Biswa Sarma said all parties contesting polls in the North East must understand that they would have to eventually support the BJP.

The Janata Dal (United) has dissolved the Nagaland unit after its lone MLA has supported the NDPP-BJP government without the knowledge of party leadership. Sarma, also the convener of the BJP-led North-East Democratic Alliance (NEDA), said that Prime Minister Narendra Modi is the ‘tallest leader’ of the country, and everyone favours him in the region.

The government in 2008 had declared Silsako Beel, surrounded by Chachal, Hengerabari, Pathar Quarry and Satgaon areas, a protected water body in Guwahati through an Act and prohibited any construction or settlement in around 1,800 bighas (over 595 acres) of the lake area.

As per Guwahati Metropolitan Development Authority (GMDA) chairman Narayan Deka, less than 300 bighas of the lake remained free from encroachment and the waterbody was reduced to a “small pit”.

“This is one of the main reasons for water logging in the eastern part of Guwahati city during the monsoon season,” he had claimed.

On March 2, the Kamrup Metropolitan district administration issued an order to demolish as many as 89 bridges over Bahini river along an approximately 8 km stretch in Guwahati to ease water logging problems in a part of the city.

However, the order was modified on March 6 and said 26 bridges will be demolished instead of 89 after the district authority and the state government were slammed by the opposition and social media users.

The Himanta Biswa Sarma-led dispensation has been carrying out eviction drives in different parts of the state since it assumed power in May 2021. In the last three months, several major eviction exercises have taken place.

In one of the largest eviction drives in Assam, the administration, in a three-day exercise from February 14, cleared 2,099 hectares in Burachapori Wildlife Sanctuary and nearby revenue villages in Sonitpur district, affecting almost 12,800 people.

ENNG chief along with 14 others surrender

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“With you (ENNG cadres) returning home to normal life, Arunachal Pradesh has made a giant leap towards peace. I hope this step of yours will set the doors open for others to come back home,” he said.

Khandu pointed out that Arunachal Pradesh has always been a peaceful state and that his government is committed to ensure that it remains so.

Khandu informed that the state government has the “Underground Surrender

Policy” in place to rehabilitate them as well as facilitate their livelihood.

“This financial year (2023-24), we have allocated Rs 5 crore to encourage misguided youths to shun violence and become partners of growth. We assure the surrendered cadres all help to join the mainstream for their meaningful contribution to the State and the country,” he said.

He lauded the role of Assam Rifles and the state police in pursuing the rebels, encouraging them to s urrender, and resuming normal life. He expressed optimism that the forces would continue with their effort to curb insurgency in the region but with a humane touch.

Deputy chief minister Chowna Mein, Home Minister Bamang Felix, chief secretary Dharmendra, DGP Satish Golchha, IGAR (North) Maj Gen Vikas Lakhera and other officials were present in the function.

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I, Tiala Imti W/o Lt. David Imti, R/o Naharbari, Dimapur, do hereby declare that my name- Tiala Imti and Tiarenla Imti, are the names of one and the same person and that is myself. Sworn vide affidavit Regd. No.698 dated 09.03.23. DEPONENT db-320/23

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Snippets

19 people killed in attack in DR Congo

KINSHASA, MAR 12

(IANS): At least 19 people were killed in an overnight attack in the eastern Democratic Republic of the Congo (DRC), local sources said on Sunday.

The attack, which took place in the village of Kirindera in the territory of Beni of the eastern province of North Kivu, killed at least 19 civilians, Carly Nzanzu Kasivita, former governor of North Kivu, told journalists on Sunday morning, attributing the attack to the Allied Democratic Forces (ADF) rebels, Xinhua News Agency reported.

Several buildings in the village, including a health center, were set on fire by the rebels, he said.

The attack came two days after another attack blamed on the ADF rebels on Thursday in two villages of the Beni territory, where at least 44 people were killed.

8 dead, 7 missing after boat capsizes off San Diego coast

SAN DIEGO (US), MAR 12 (AP): At least eight people were killed when two suspected smuggling boats approached a San Diego beach and one capsized, and crews are searching Sunday for an estimated seven additional victims, authorities said.

A woman on one of the panga-style boats called 911 late Saturday to report that the other vessel had overturned in waves off Blacks Beach, according to US Coast Guard Petty Officer Richard Brahm.

“The woman who called stated that the boat that overturned had 15 people on it, but that was just an estimate,” Brahm said.

Coast Guard and San Diego Fire-Rescue crews pulled eight bodies from the water, but thick fog hampered the search for additional victims. A Coast Guard cutter combed the area early Sunday, and officials hoped to get helicopters in the air when weather improves, Brahm said.

7 killed as explosion levels 3 buildings in Iran

TEHRAN, MAR 12 (IANS): At least seven persons were killed and five others injured after three residential buildings collapsed on Sunday following an explosion in Iran’s Tabriz city, the media reported.

The explosion took place at around 3 a.m. (local time) in a two-story building, Xinhua news agency reported.

“The impact of the blast completely levelled the building and two nearby ones,” Mohammad-Baqer Honarbar, director general of East Azarbaijan province’s Crisis Management Organisation was quoted as saying by Xinhua.