The News Journal

Rajeev Jhawar has been the Managing Director of Usha Martin Limited since May 19, 2008.  He is also a director of the Neutral Publishing House Limited.  Rajeev Jhawar has been the Vice Chairman of Usha Martin Education and Solutions Limited since September 2010.  The company has been bringing rich experience in the management of industrial enterprises for more than a decade.  His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a high growth trajectory as a whole. Rajeev Jhawar Usha Martin Rajeev Jhawar shares his observation about the industry post covid. After the corona virus the industry witnessed a pandemic and subsequent lockdowns disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand.  Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019-20 and early 2020-21. Further he also makes h

Credit rating agency Moody’s Investors Service has affirmed Saudi Arabia's rating at ‘A’ to Saudi Arabia with a stable outlook, primarily driven by the government’s fiscal policy effectiveness. The Saudi national debt management center said in a press release citing Moody’s that the latter expected that Saudi Arabia’s GDP will grow at an average rate of 5 percent in the period 2021-2023, supported by further post-pandemic recovery, progress on economic diversification, capital and development projects, and a further unwinding of oil production cuts. According to the center, Moody’s added that the growth of financial institutions in the Kingdom highlights the positive impact of the structural measures and reforms taken by the government in the past five years. Read More : https://www.arabnews.com/node/2099076/business-economy

Phil Mickelson headlines a field of 48 golfers at this week’s LIV Golf Invitational London. Other big-name players who will tee off at the Centurion Club on Thursday include Dustin Johnson, Martin Kaymer and Sergio Garcia. There are eight events in the inaugural LIV Golf Invitational Series. Seven are regular-season events — in North America, Europe, Middle East, and Asia — where players will compete as individuals and in teams for points and prize money. Those competitions will be played over 54 holes in a traditional strokeplay format, instead of the usual 72, and there will be a “shotgun” start for all groups of players, who will tee off from different holes at the same time. Read More : https://www.arabnews.com/node/2099046/sport

Global trade dipped 1 per cent in May from the previous month as container shipping congestion and delays stretched to European ports in the North Sea, according to Kiel Trade Indicator data. For the first time since the outbreak of the Covid-19 pandemic, container ships are now also jammed in the North Sea off the ports of Germany, the Netherlands, and Belgium, the Kiel Institute for the World Economy said in its monthly report. Currently, just under 2 per cent of global cargo capacity is stuck in the area and can neither be loaded nor unloaded. “Overall, May trade is rather restrained and continues the sideways movement of recent months. However, international trade is again suffering more from the congestion and delays in container shipping, which have now also reached the North Sea,” Vincent Stamer, head of Kiel Trade Indicator, said. The pandemic highlighted significant challenges in the logistics sector, with many cargo customers struggling to find shipping containers amid labour

The UAE and Japan are exploring ways to strengthen economic, energy and industrial co-operation in a bid to drive low-carbon growth opportunities, including studying the development of a hydrogen supply chain between the two countries. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Abu Dhabi National Oil Company (Adnoc) managing director and group chief executive met senior Japanese government and business leaders during a three-day working visit to the country. Dr Al Jaber met leading officials including Hagiuda Koichi, Minister of Economy, Trade and Industry; Tsuyoshi Yamaguchi, Minister of Environment; and Odawara Kiyoshi, State Minister of Foreign Affairs, the state-run Wam news agency reported on Tuesday. Discussions focused on economic and industrial development, energy supply, hydrogen and climate action. Dr Al Jaber reviewed continuing joint initiatives between the UAE and Japan in hydrogen and low-carbon blue ammonia an

A Delhi court on Friday directed the CBI to give a three-day prior notice to Congress MP Karti Chidambaram if it required to arrest him in connection with an alleged visa scam case. Special Judge M K Nagpal passed the order while dismissing his anticipatory bail plea as withdrawn. The plea was opposed by the CBI, which said it was not maintainable at this stage. CBI also stated that the agency will give notice before 48 hours at least if he Karti Chidambaram | Visa scam : Delhi Court asks CBI to give three-day prior notice to Karti Chidambaram in case of arrest was required to be arrested. Karti Chidambaram The court, however, directed that in case the CBI was required to arrest the accused, he needed to be given notice prior to three working days. Noting that the accused was currently abroad, the court further directed that he shall be joining the investigation within 16 hours after he reaches India. Read More : https://economictimes.indiatimes.com/news/india/visa-scam-delhi-court-as

The Saudi Ports Authority, also known as Mawani, has extended the bid deadline by a week to June 14 for the main works package to upgrade Terminals 1 and 2 of King Abdulaziz Port in Dammam city.  The initial deadline to submit the bid was May 10, and it was later extended to May 31 and June 7, according to a MEED report. The main works package in Terminal 1 includes repairing and refurbishing berths with a length of 480 meters, quay paving and renovation of buildings.  The second container terminal will undergo expansion which involves the construction of a 225-meter-long quay wall with a draft of 16 meters, along with infrastructure work.  Read More : https://www.arabnews.com/node/2098486/business-economy

Cambodia and Beijing on Tuesday denied a report that they are building a secret naval facility for the Chinese fleet, as Australia’s new prime minister voiced concern and called for transparency. The Washington Post, citing unnamed Western officials, said a new facility at Cambodia’s Ream base — strategically located on the Gulf of Thailand — was being built for the “exclusive” use of the Chinese navy. The base has been a running sore spot in US-Cambodian relations for years, with Washington long suspecting it is being converted for use by China as it seeks to buttress its international influence with a network of military outposts. Read More : https://www.arabnews.com/node/2098491/world

BERLIN: German Foreign Minister Annalena Baerbock called for the international community to send Afghanistan’s Taliban leadership the message that it is heading in the wrong direction. “Our influence on what happens inside Afghanistan is very limited. It depends on the Taliban making rational choices in their own economic interest, and that is not what they are doing right now,” said Baerbock during a visit to Islamabad, warning of a humanitarian disaster brewing in the country. “It is not the Afghan people’s fault that their government was overthrown by the Taliban,” she said on Tuesday at a joint news conference with her Pakistani counterpart, Bilawal Bhutto Zardari. Read More : https://www.arabnews.com/node/2098426/world

Weeks of intense clashes between Russian forces and Ukrainian fighters have turned Severodonetsk and Lysychansk into “dead cities”, President Volodymyr Zelenkyy said. The two cities nestled in the Donbas industrial heartland of Ukraine are being bombarded by heavy Russian shelling and fierce street-to-street battles have broken out between invading troops and fighters loyal to Kyiv. Fourteen weeks into the invasion, Moscow is pushing to capture the cities so it can take full control of the Luhansk region and tout it as a war victory. A Ukrainian official on Tuesday said street fighting continued to rage in the flashpoint city of Severodonetsk and that the situation was changing “every hour”. Just days ago, Moscow seemed close to taking the strategic industrial hub but Ukrainian forces have managed to stand their ground. Read More : https://www.thenationalnews.com/world/europe/2022/06/07/weeks-of-fighting-in-ukraine-turn-severodonetsk-and-lysychansk-into-dead-cities/

Mubadala Investment Company, Abu Dhabi’s strategic investment arm, and EQT Private Equity have agreed to acquire Envirotainer, a global temperature-controlled supply chain solutions company for the biopharmaceutical industry. The financial details of the deal were not provided. However, the enterprise value of Envirotainer is about €2.8 billion ($2.99bn), Mubadala said on Tuesday. The two partners will support Envirotainer in its next phase of growth, accelerating its expansion in the Asia-Pacific region. The investment will also help the company to maintain stable growth in its other core markets, leveraging on EQT’s “local with locals” approach and Mubadala’s global network. Read More : https://www.thenationalnews.com/business/economy/2022/06/07/mubadala-and-eqt-to-buy-global-pharmaceutical-supply-chain-solutions-company-envirotainer/

Ever since the inception of Usha Martin Limited, Rajeev Jhawar and his team have been working for the overall development of the community in the areas of resource management, health and sanitation, education, women empowerment and sustainable livelihood. The parallel development of the company and the community has helped Usha Martin achieve a sustainable and resilient growth. The company’s commitment to its responsibilities towards society over the years has never been confined to the requirements of any statute. Usha Martin Limited has taken appropriate initiatives to address global environmental issues, climate change, global warming by use of liquefied petroleum gas and biomass briquette as greener source of energy and also usage of energy efficient LED bulbs and motors. Rajeev Jhawar focuses on the continual development of the company by building a sustainable value-accretive business. Rajeev Jhawar Usha Martin Usha Martin is on its way to become the global leader in wire rope

British Prime Minister Boris Johnson’s supporters have launched a last-minute charm offensive to win over Conservative MPs to ensure he remains in power. With hours to go before a confidence vote in the House of Commons on Monday evening, Cabinet members and loyal MPs have been telephoning wavering colleagues to ensure he reaches the 180 threshold of votes needed to stay in office. But the campaign suffered a significant setback after Jeremy Hunt, the favourite to replace Mr Johnson, announced that he would not be voting for the prime minister. “Today’s decision is change or lose. I will be voting for change,” he tweeted. Read More : https://www.thenationalnews.com/world/uk-news/2022/06/06/team-boris-johnson-swings-into-action-ahead-of-confidence-vote/

Boris Johnson's Chief of Staff Steve Barclay has issued a rallying message to Conservative MPs to stick with the prime minister in Monday's confidence vote in which he stressed that the government is delivering in the face of massive and unexpected challenges. "We have lost half of this Parliament to Covid. That is not the fault of the Prime Minister or of Conservative MPs – and our constituents understand that. But it will be our fault entirely if we choose to waste the remaining half of the parliament on distractions over leadership. The country faces many pressing challenges right now – so we must focus on what matters to the livelihoods of constituents rather than the obsessions of those on social media. My colleagues understand from their constituency work and surgeries just how much the cost of living situation is impacting hardworking people. Pressure on energy bills and food prices is causing real stress and anxiety across the country – and this will continue into

A French-Palestinian lawyer will spend at least three more months detained without charge under a controversial Israeli practice, court documents show. Israeli authorities overnight Sunday-Monday extended the detention of Salah Hamouri, 37, under what is known as administrative detention, according to the documents. The practice allows suspects to be detained for renewable periods of up to six months. An Israeli military court sentenced Hamouri to administrative detention in March. It accused him of being a member of the Popular Front for the Liberation of Palestine (PFLP), and said he “endangers security in the region.” Hamouri, who holds French citizenship, denies being a member of the PFLP. The PFLP has been implicated in several fatal attacks on Israelis and is considered by Israel, the United States, and the European Union as a “terrorist group.” Read More : https://english.alarabiya.net/News/world/2022/06/06/Israel-extends-detention-of-French-Palestinian-lawyer

The United Arab Emirates has achieved the goal of its National COVID-19 Vaccination Campaign, announcing that 100 percent of the targeted categories have been vaccinated, state news agency (WAM) reported on Thursday. The national campaign aimed to vaccinate and immunize frontliners, volunteers, and individuals from the age groups specified according to the type of vaccine, the elderly as well as those who suffer from chronic diseases and who can take the vaccine. The UAE has through the Ministry of Health and Prevention worked to make the COVID-19 vaccine available to citizens and residents of the country in order to reach acquired immunity and hence decrease the number of COVID-19 cases and control the spread of the virus. Read More : https://english.alarabiya.net/News/gulf/2022/06/02/UAE-achieves-100-percent-COVID-vaccination-target-Report

The leaders of Australia and Indonesia discussed stronger Indo-Pacific cooperation, security, and climate change during a meeting on Monday, which included the offer by Canberra of a $200 million climate partnership. Australian Prime Minister Anthony Albanese met with President Joko Widodo on Monday as part of a trip to shore-up relations between the two neighbors, in his first bilateral visit since being elected last month. Albanese also offered technical assistance for Indonesia’s green, high-tech new capital. It was not immediately clear if the climate package was denominated in Australian or US dollars. Albanese and Widodo later rode bamboo bicycles together as they held talks to boost ties, with Canberra embarking on the diplomatic charm offensive to counter China’s expanding assertiveness in the Asia-Pacific region. Read More : https://english.alarabiya.net/News/world/2022/06/06/Australia-PM-Albanese-offers-climate-assistance-stronger-ties-in-Indonesia-visit

Elon Musk needs to cut one in ten jobs at Tesla. Some may already have their eye on the exit. The Tesla chief executive’s intentions, conveyed in an internal email seen by Reuters, are rooted in what he described as his “super bad feeling” about the US economy. Some of the nearly 100,000 people employed at the electric carmaker may already be considering their options after Musk issued them with a return-to-office ultimatum this week. In an email sent to staff Tuesday night, Musk threatened to fire anyone who did not work in the office 40 hours a week, a sharp contrast to flexibility offered by Big Tech companies that compete for the same talent pool. The office edict, on top of a steep drop in Tesla’s share price this year – partly due to Musk’s costly pursuit of Twitter – and his public alignment with the Republican party are a toxic mix for some staff. Read More : https://english.alarabiya.net/News/world/2022/06/06/Elon-Musk-opens-door-to-a-Tesla-talent-exodus

Russia attacked Ukraine in the early hours of February 24, setting off the worst conflict in Europe in decades. As Russia extends its grip over the east, we look back on 100 days of fighting that has killed tens of thousands of civilians and reduced entire cities to rubble. Russian President Vladimir Putin announces a “special military operation” to “demilitarise” and “de-Nazify” the former Soviet state and protect Russian speakers there. A full-scale attack starts with air and missile strikes on several cities. Ukrainian President Volodymyr Zelensky pledges to stay in Kyiv to lead the resistance. The West adopts unprecedented sanctions against Russia and offers Ukraine military aid. Read More : https://www.khaleejtimes.com/world/russia-ukraine-crisis-a-timeline-of-the-first-100-days

German carmaker Mercedes-Benz is recalling nearly one million older vehicles worldwide due to a potential problem with the braking system, the federal transport authority (KBA) said. The KBA said in a statement dated June 1 and reported late Saturday in German media that the recall affected cars built between 2004 and 2015, of the SUV series ML and GL and the R-Class luxury minivan. “Corrosion on the brake booster can in the worst case lead to the connection between the brake pedal and the braking system being interrupted,” the KBA said. “As a consequence, the service brake can stop functioning.” The KBA said that worldwide 993,407 vehicles were being recalled, including around 70,000 in Germany. Read more : https://english.alarabiya.net/business/aviation-and-transport/2022/06/05/Mercedes-to-recall-one-million-older-cars-on-fear-of-faulty-brakes

South Korea and the United States fired eight ballistic missiles on Monday in response to North Korean weapons tests the previous day, Seoul’s military said. The Joint Chiefs of Staff said the allies launched the ground-to-ground Army Tactical Missile System (ATACMS) missile at targets in the East Sea, also known as the Sea of Japan, in the early morning. The 10-minute volley comes a day after North Korea launched eight short-range ballistic missiles following a South Korea-US joint military exercise involving a US aircraft carrier. “Our military strongly condemns the North’s series of ballistic missile provocations and sternly urges it to immediately stop acts that raise military tensions on the peninsula,” it added. Read More : https://english.alarabiya.net/News/world/2022/06/06/S-Korea-and-US-fire-ballistic-missiles-in-response-to-N-Korea-tests

An Australian court on Monday ordered Google to pay a former lawmaker A$715,000 ($515,000), saying its failure to take down a YouTuber’s “relentless, racist, vilificatory, abusive and defamatory campaign” of videos drove him out of politics. The Federal Court found the Alphabet Inc company, which owns content-sharing website YouTube, made money by broadcasting two videos attacking the then-deputy premier of New South Wales - Australia’s most populous state - that have been viewed nearly 800,000 times since being posted in late 2020. Google has been found liable for defamation before, generally for supplying links to articles in search results, but Monday’s ruling is one of the first where the firm was deemed an active publisher - via YouTube - of content that defamed an elected official. Read More : https://english.alarabiya.net/News/world/2022/06/06/Google-ordered-to-pay-Australian-politician-over-defamatory-YouTube-videos

Sethurathnam Ravi , the former BSE chairman suggests investors to be more vigilant. The financial expert greatly believes in the fact that all the potential investors should be vigilant enough to tackle any upcoming problems. Vigilance should be carefully exercised when it comes to making an informed decision. Sethurathnam Ravi said that there should be no transparency when it comes to the functional duties of both the directors as well as the independent directors. Besides this, he also focused on the importance of the quality of the board. Additionally, the former BSE Chairman also believed in the fact that an established forum should be there so that a smooth interaction between the investors and the auditors can carry out. Furthermore,  Sethurathnam Ravi BSE  also pointed out that the capital will somehow turn out to be constrained in the existed geo-political situation and organizations will need to search for the correct kind of capital. He is a firm believer in the fact that

Apple said it stopped fraudulent transactions worth about $1.5 billion on its App Store in 2021, as it continues to rein in potential illicit activity on its platform. More than 1.6 million apps deemed risky and untrustworthy were prevented from defrauding users and more than 3.3 million stolen credit cards were blocked from making purchases last year, the iPhone-maker said in its annual fraud analysis on Wednesday. Apple attributed the detection and prevention of malicious apps to its App Review programme, a multilayered approach that combines computer automation with manual human review, which is the “distinguishing component” of the process. “Bad actors continue to evolve their methods of online fraud, often making their schemes harder to recognise,” the iPhone-maker said in the report released before its Worldwide Developers Conference next week. Read More : https://www.thenationalnews.com/business/technology/2022/06/02/apple-wwdc-2022-fraudulent-transactions-worth-15bn-blocked-on

The Queen Elizabeth II's four-day platinum jubilee celebrations will begin with the pomp and pageantry of the Trooping the Colour ceremony. After 70 years of service for the country and Commonwealth, thousands of well-wishers will take to the streets over the extended bank holiday weekend to mark the monarch’s milestone. The once in a lifetime event will see members of the monarchy, celebrities from the UK and across the globe, and people from all parts of the UK gather to recognise the queen’s legacy. Thousands of people draped in Union Jack flags, party hats and plastic tiaras lined the Mall in the warm sunshine to watch the Trooping the Colour. Read More : https://www.thenationalnews.com/world/uk-news/2022/06/02/watch-live-queen-elizabeth-iis-platinum-jubilee-celebrations/

The official platinum jubilee portrait of Queen Elizabeth II has been unveiled to mark the start of the British celebrations of her 70-year reign. The monarch, 96, looks contented sitting on a cushioned window seat in her Windsor Castle home, with the historic residence’s famous Round Tower visible in the distance. With her hands resting on her lap and her hair curled in its familiar style, the queen is dressed in a dusky, dove-blue Angela Kelly coat made of wool Charmelaine. Read More : https://english.alarabiya.net/News/world

A former employee of OpenSea, the world’s largest marketplace for non-fungible tokens (NFTs), has been arrested on charges of insider trading, in the first such case involving digital assets. Nathaniel Chastain, 31, a former product manager at Ozone Networks, was charged with wire fraud and money laundering for committing insider trading by using confidential information about what NFTs were going to be featured on OpenSea’s homepage for his personal financial gain, said the US Department of Justice in a statement. Mr Chastain was arrested by the Federal Bureau of Investigation on Wednesday in New York. The charges of wire fraud and money laundering carry a maximum sentence of 20 years each in prison. Read More : https://www.thenationalnews.com/business/2022/06/02/ex-employee-of-nft-marketplace-opensea-arrested-for-insider-trading/

Jamie Dimon, chairman and chief executive of JP Morgan Chase, described the challenges facing the US economy as akin to a “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Mr Dimon’s comments come a day after US President Joe Biden met Federal Reserve Chairman Jerome Powell to discuss inflation, which is hovering at 40-year highs. “It is a hurricane" and the current situation is unprecedented, Mr Dimon told a banking conference. Read More : https://www.thenationalnews.com/business/economy/2022/06/02/jp-morgans-jamie-dimon-warns-us-is-approaching-economic-hurricane/

The US government lifted restrictions Wednesday on air links to Cuba, one of the measures announced in May by President Joe Biden’s administration in a gesture of conciliation toward the Communist-run island. The decision will allow US airlines to serve other airports in Cuba aside from the capital Havana, a Department of Transportation document said. The re-authorization of certain group trips is also planned, it said. On May 16, the Biden administration announced the upcoming lifting of a slew of sanctions targeting the island, which a US official described at the time as “practical decisions” to help alleviate the humanitarian situation and to “expand economic opportunities” for Cubans. In addition to expanded flights, the United States intends to reinstate a program that was suspended for several years and which had facilitated immigration procedures for members of the same family. Washington had also promised to increase capacity for processing visa applications in Havana. Read Mo

The partner of Chinese-Australian journalist Cheng Lei -- detained by Beijing authorities since August 2020 -- said he has serious concerns about her declining health behind bars in an interview aired Thursday. Cheng, a mother of two and former anchor at Chinese state broadcaster CGTN, was formally arrested in February 2021, when she was charged with “supplying state secrets overseas.” Nick Coyle, described by Sky News Australia as Cheng’s longtime boyfriend, said he was concerned about a “range of health issues” his partner faced in prison, which were exacerbated by food restrictions. He said monthly consular visits between Cheng and Australian officials had also been suspended because of China’s strict COVID-19 protocols. Cheng was tried secretly in March behind closed doors, with even Australia’s ambassador to China, Graham Fletcher, blocked from entering the court to observe proceedings. The court deferred its verdict and Cheng’s sentence, which could be life in prison for cases de

Police officials say four people have been killed in a shooting at a Tulsa medical building on a hospital campus A gunman carrying a rifle and a handgun killed four people on Wednesday at a Tulsa medical building on a hospital campus, police said, the latest in a series of deadly mass shootings across the country in recent weeks. Tulsa Police Department Deputy Chief Eric Dalgleish confirmed the number of dead and said the shooter also was dead, apparently from a self-inflicted gunshot wound. Read More : https://www.khaleejtimes.com/americas/4-killed-in-shooting-at-tulsa-medical-building-shooter-dead

The US officially announced a new military aid package for Ukraine on Wednesday worth $700 million, including long-range rocket systems. “This new package will arm [Ukraine] with new capabilities and advanced weaponry, including HIMARS with battlefield munitions, to defend their territory from Russian advances,” US President Joe Biden said in a statement. “We will continue to lead the world in providing historic assistance to support Ukraine’s fight for freedom,” he added. Senior Biden administration officials told reporters on Tuesday that Ukraine pledged not to strike inside Russia with the advanced rocket systems from the US. According to the officials, the new rocket systems will be able to hit targets up to 48 miles away. The Pentagon said the latest aid was part of the eleventh drawdown of equipment from US Department of Defense inventories for Ukraine since August 2021. Read More : https://english.alarabiya.net/News/world/2022/06/01/US-announces-new-military-aid-package-for-Ukra

A Virginia jury on Wednesday ruled that actor Amber Heard defamed ex-husband Johnny Depp in a widely watched six-week trial that featured explicit and graphic evidence and testimony detailing the former Hollywood couple's soured relationship. The jury also ruled in favour of Heard in some aspects of her counter-suit against Depp. The jury awarded Depp $15 million in damages from Heard. The panel awarded Heard $2 million in damages. Depp, the 58-year-old "Pirates of the Caribbean" star, sued Heard for $50 million and argued that she defamed him when she called herself "a public figure representing domestic abuse" in a newspaper opinion piece. Heard, 36, countersued for $100 million, saying Depp smeared her when his lawyer called her accusations a "hoax." Depp has denied hitting Heard or any woman and said she was the one who turned violent in their relationship. Read More : https://www.khaleejtimes.com/newsmakers/jury-finds-amber-heard-defamed-johnny-de