Central News Hub

Month: September 2022

  • Hero once again leads EV market

    Hero once again leads EV market

    Bhavish Aggarwal-run Ola Electric sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July, indicating that it still needs to bring its strategy back on track…reports Asian Lite News

    Hero Electric once again led the Indian electric vehicle (EV) two-wheeler segment in August, selling a record and highest-ever 10,476 vehicles in one month, followed by Okinawa Autotech at 8,554 vehicles, the latest government VAHAN data has revealed.

    Hero Electric had sold 8,954 EV two-wheelers in July while Okinawa Autotech had sold 8,096 two-wheelers.

    Bhavish Aggarwal-run Ola Electric sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July, indicating that it still needs to bring its strategy back on track.

    Ather Energy saw a massive jump at selling 5,239 vehicles, from a mere 1,289 in July.

    Ampere Vehicles Pvt Ltd, which sold 6,319 vehicles last month, saw a marginal hike at 6,396 sold units.

    In a bid to boost two-wheeler EV adoption and battery swapping infrastructure, Hero Electric is set to partner with Jio-bp to strengthen mobility solutions for electric two-wheelers.

    The customers of Hero Electric are expected to get access to the widespread charging and swapping network of Jio-bp, which is also open to other vehicles.

    A recent report revealed that only 1 per cent household consumers plan to buy an e-scooter in the next six months amid safety and performance concerns, as the government probes multiple fires in electric two-wheelers.

    Around 32 per cent of respondents are not convinced about the safety and performance of electric scooters in August while in March this year, the number stood at 17 per cent – as more than two dozen electric two-wheelers caught fire in March and April, according to community social media platform LocalCircles.

    After more than two dozen electric two-wheelers caught fire in March and April, around 7,000 units were “voluntarily” recalled by electric scooter makers such as Ola, Pure EV, and Okinawa.

    The government set up a committee of experts from Centre for Fire, Explosive and Environment Safety (CFEES) and the Indian Institute of Science to carry out detailed investigation and frame ‘quality-centric’ guidelines for EV manufacturers, which are expected to be released soon.

    The fallout of EV fires is that just 1 per cent of over 11,000 respondents said they plan to buy an e-scooter in the next 6 months.

    Nearly 5 per cent said they are keen to buy but “were not convinced about the infrastructure available for e-scooters where I live/work” and 7 per cent said they do not have funds for buying e-scooters.

    While there are people keen to buy e-scooters, concern over safety and performance are rising.

    “It is critical for the government and industry to win consumer confidence,” the report mentioned.

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  • Hyundai, Kia global sales up in August

    Hyundai, Kia global sales up in August

    Its subsidiary Kia’s sales also went up 10 per cent last month from a year earlier despite an extended chip shortage…reports Asian Lite News

    Hyundai Motor, South Korea’s biggest carmaker, said on Thursday that its sales rose 12 per cent in August from a year earlier despite an extended chip shortage.

    Its subsidiary Kia’s sales also went up 10 per cent last month from a year earlier despite an extended chip shortage.

    Hyundai sold a total of 334,794 vehicles in August, up from 300,004 units a year earlier on robust overseas demand for its models, the company said in a statement.

    Domestic sales fell 3.5 per cent to 49,224 units from 51,034 during the period, while overseas sales climbed 15 per cent to 285,570 from 248,970, reports Yonhap news agency.

    To prop up sales in the second half, Hyundai said it plans to launch the IONIQ 6 all-electric model and other competitive models in global markets.

    The IONIQ 6 is the second model embedded with Hyundai Motor Group’s own EV-only electric-global modular platform (E-GMP) following the IONIQ 5 launched in April last year.

    Hyundai plans to introduce the platform-based IONIQ 7 SUV model in 2024. For its all-electric models, Hyundai uses alphanumeric names like its bigger rivals, such as BMW, whose models are named Series No. 1-8.

    Hyundai has set a sales goal of 4.32 million units for this year, higher than the 3.89 million sold last year.

    Meanwhile, Kia sold a total of 239,887 vehicles in August, up from 217,226 units a year ago on robust overseas demand for its SUV models.

    Kia aims to sell 3.15 million vehicles globally this year.

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  • UPI transaction value hits Rs 10.72 lakh cr in August

    UPI transaction value hits Rs 10.72 lakh cr in August

    The country crossed 6 billion transactions for the first time last month, logging 6.28 billion transactions worth Rs 10.62 lakh crore…reports Asian Lite News

    The Unified Payments Interface (UPI) registered a record 6.57 billion (657 crore) transactions worth Rs 10.72 lakh crore in August, the National Payments Corporation of India (NPCI) data showed on Thursday.

    The growth in UPI volumes is up almost 100 per cent (year-on-year) and amounts transacted grew by 75 per cent YoY in the month of August.

    “With the acceptance of card payments via UPI the transaction volumes are bound to grow strongly and the average value per transaction too will increase. Through this growth, the NPCI systems have been robust and have rendered uptime that stands among the best in the payments industry. NPCI is on track to achieve their vision of 1 billion transactions per day,” said Rajesh Mirjankar MD and CEO, Kiya.ai.

    The country crossed 6 billion transactions for the first time last month, logging 6.28 billion transactions worth Rs 10.62 lakh crore.

    Prime Minister Narendra Modi last month hailed the achievement of UPI transactions crossing 6 billion in July — the highest ever since its launch six years back.

    “This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic,” Modi had said in a tweet.

    In FY22, UPI processed more than 46 billion transactions amounting to over Rs 84.17 trillion, thus breaching the $1 trillion mark.

    UPI’s target is to process a billion transactions a day in the next five years.

    The UPI facility was launched on April 11, 2016, by then Reserve Bank of India Governor Raghuram Rajan.

    Recently, the NPCI mandated that all UPI-based applications obtain consumers’ prior authorisation before recording their location.

    Any time a client gives permission to record their location, the permission must be properly communicated to the UPI, else the company will take stern action.

    This rule must be followed by all members by December 1 and applies to domestic UPI transactions between individuals.

    “UPI continues to penetrate further in the payment ecosystem as reflected by an increase in the number of UPI transactions by approx 5 per cent (on-month) and value of such transactions increasing by approx one per cent (month-on-month). The mass adoption of UPI is driving financial inclusion with respect to payments in India,” said Swapnil Bhaskar, Head of Strategy, Niyo, a neobank for millennials.

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  • Airtel unveils next-gen Cloud solutions

    Airtel unveils next-gen Cloud solutions

    This reduces latency, costs and load on servers making it easier for enterprises to focus on app performance for OTT, ed-tech, gaming and healthcare sectors…reports Asian Lite News

    Bharti Airtel on Thursday launched a new Cloud portfolio to offer specialised products for multiple business segments, as the company plnas to roll out 5G services in the country.

    The new cloud offerings will fall under Edge Cloud Portfolio and will include Edge content delivery network (CDN).

    Airtel Cloud’s Edge CDN accelerates web and video content delivery by using its edge network to bring content as close to users as possible.

    This reduces latency, costs and load on servers making it easier for enterprises to focus on app performance for OTT, ed-tech, gaming and healthcare sectors.

    “Airtel has three key strengths to offer a differentiated set of cloud offerings � we have 12 large data centres and 120+ edge locations. We also have a network with comprehensive coverage across the country and to most locations across the globe,” said Ajay Chitkara, Director and CEO, Airtel Business.

    Airtel is currently working with two of the largest OTT companies in India and others on this platform.

    “With 5G around the corner, businesses will leverage the low latency, high bandwidth and high device density of the 5G spectrum to solve critical problems using edge computing,” said Chitkara.

    Airtel said it will utilise Edge Cloud applicationd eveloper Qwilt’s ‘Open Edge Cloud’ solution for deployment.

    “Our edge architecture provides a new economic model for streaming delivery, in which Airtel Cloud’s Edge CDN plays a central role in the end-to-end value chain,” said Alon Maor, CEO, Qwilt.

    Airtel recently became the first company to test a captive private network at the Bosch facility in Bengaluru. Airtel is also rolling out its Edge compute service to customers.

    The company said there will be many targeted cloud solutions coming in for specific industry requrements soon.

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  • No end to visa woes for Canada bound Indian students

    No end to visa woes for Canada bound Indian students

    Currently, more than 230,000 students from India enrolled in post-secondary institutions in Canada, are making a positive contribution to the Canadian economy…reports Asian Lite News

    India, with regard to the problems faced by college students enrolled in Canadian universities, said that New Delhi has taken up the matter with Canada to make sure that students are not affected and that the country will continue to take measures to assist Indian students who would like to go abroad to study.

    In a weekly presser, Ministry of External Affairs Spokesperson Arindam Bagchi said on Thursday, “It is an important issue. We have taken up the matter with Canada to make sure that students are not affected. We will continue to take measures to help the Indian students who want to go abroad for studies.”

    Earlier, the Indian High Commission in Ottawa asked the Canadian authorities to look into the problems faced by college students enrolled in Canadian universities, who are unable to join the academic courses due to delays in processing of their visas and student permits.

    In an advisory, the High Commission said that Indian officials in Ottawa and consulates in Toronto and Vancouver continue to be engaged with Canadian interlocutors, including educational institutions and universities, regarding problems faced by the Indian students.

    “Higlighting these issues and the fact that Indian students have already deposited tuition fees with Canadian institutions, we request the Canadian authorities to expedite the processing of visa applications for students from India,” the advisory said.

    It noted that Canada has emerged as a preferred destination for Indian students for post-secondary education. But the High Commission added, “The processing of visas is a sovereign power of the Canadian government.”

    Currently, more than 230,000 students from India enrolled in post-secondary institutions in Canada, are making a positive contribution to the Canadian economy, including through an estimated $4 billion in tuition fees.

    India and Canada’s strategic partnership is based on a shared commitment to democratic values, pluralism and the rule of law.

    The bilateral agenda is anchored in expanding economic engagement, regular dialogue and long-standing people-to-people ties. Although Ministerial or official visits were not exchanged due to the Covid-19 pandemic, virtual interactions enabled the continuity of bilateral engagement.

    Bilateral trade was worth $2.968 billion from April 1, 2021 to August 31, 2021. India’s exports to Canada during this period were $1.982 billion and imports from Canada were $0.985 billion. Portfolio investments from Canada into India increased during this period.

    Both countries continued negotiations for the Comprehensive Economic Partnership Agreement (CEPA) and the Bilateral Investment Promotion and Protection Agreement (BIPPA).

    The flow of knowledge and talent is robust between both countries, with India poised to become the top source of foreign students, with 230,000 Indian students studying in Canada.

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  • Azarenka beats Kostyuk to reach third round in US open

    Azarenka beats Kostyuk to reach third round in US open

    Azarenka’s next opponent could be No. 4 seed Paula Badosa, who faces Petra Martic later on Thursday…reports Asian Lite News

    Two-time Grand Slam winner Victoria Azarenka, who’s reached three finals at the US Open, eased into Round 3 at the Flushing Meadows on Thursday, with a straight sets victory over Ukraine’s Marta Kostyuk.

    Azarenka, the No. 26 seed and former world No. 1, won 6-2, 6-3 to open Thursday’s play on Court 17 as she got the lead and never let up.

    The 88-minute win was in stark contrast to Azarenka’s Round 1 victory against American teenager Ashlyn Krueger, played on Tuesday. In that match, she built a 6-1, 4-1 lead but needed to win in three, 6-1, 4-6, 6-2.

    Azarenka, who also won the Australian Open in 2012 and 2013, thrived on a sunny hard court. Though Kostyuk hit more winners (23 to 13), she also totaled more unforced errors (31 to 15). Staying steady, Azarenka broke Kostyuk’s serve five times and won six straight games from 4-2 in the first.

    Azarenka is through to Round 3 for the 13th time in 15 career appearances in New York. In a second quarter of the women’s draw that also featured Naomi Osaka, Venus Williams, Emma Raducanu, and Elena Rybakina when the event began, Azarenka is the only major winner left.
    Azarenka’s next opponent could be No. 4 seed Paula Badosa, who faces Petra Martic later on Thursday.
    Also in this section of the draw are former world No. 1 Karolina Pliskova, the 2016 US Open finalist and No. 22 seed; No. 19 seed Danielle Collins, the reigning Australian Open finalist; and No. 6 seed Aryna Sabalenka. Also in the fray is Aliz  Cornet, the veteran Frenchwoman who is in her record 63rd Grand Slam main draw and had beaten Raducanu in Round 1.

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  • Bangladesh PM Sheikh Hasina to visit India next week

    Bangladesh PM Sheikh Hasina to visit India next week

    The Bangladeshi Prime Minister is also likely to travel to Ajmer in Rajasthan to visit the Dargah of revered Sufi saint Moinuddin Chishti…reports Asian Lite News

    Bangladesh Prime Minister Sheikh Hasina will visit India from September 5 to 8, with a focus on strengthening the “multifaceted” bilateral ties.

    The two sides are expected to ink an agreement on interim sharing of water of the Kushiyara river during Hasina’s visit.

    The Bangladeshi Prime Minister is also likely to travel to Ajmer in Rajasthan to visit the Dargah of revered Sufi saint Moinuddin Chishti.

    Announcing Hasina’s visit, External Affairs Ministry Spokesperson Arindam Bagchi said she will hold bilateral discussions with Prime Minister Narendra Modi and will meet President Droupadi Murmu and Vice President Jagdeep Dhankar.

    Hasina last visited New Delhi in October 2019.

    “In the recent years, both sides have sustained high level of engagement, including at the highest level,” Bagchi said.

    “The forthcoming visit of Prime Minister Sheikh Hasina will further strengthen the multifaceted relationship between the two countries based on strong historical and cultural ties and mutual trust and understanding,” he added.

    External Affairs Minister S. Jaishankar will call on Hasina.

    In August 2022, India and Bangladesh finalised the text of the agreement on interim sharing of the water of the Kushiyara river.

    The text of the memorandum of understanding (MoU) was finalised at the 38th Ministerial-level meeting of the India-Bangladesh Joint Rivers Commission (JRC) held in Delhi on August 25.

    The Joint Rivers Commission of India and Bangladesh was constituted in 1972 as a bilateral mechanism to address issues of mutual interest on common rivers.

    The overall strategic relationship between India and Bangladesh have been on an upswing in the last few years.

    In March 2021, Prime Minister Narendra Modi travelled to Bangladesh to attend events organised to mark the birth centenary of Sheikh Mujibur Rahman and 50 years of the war of liberation of that country.

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  • Starbucks picks Indian-born Laxman Narasimhan as new CEO

    Starbucks picks Indian-born Laxman Narasimhan as new CEO

    Narasimhan will relocate to Seattle, Washington, from London and will work closely with Shultz before taking over formally in April…reports YASHWANT RAJ

    Global coffee chain Starbucks has named Indian-born Laxman Narasimhan its next CEO.

    Narasimhan, who currently heads health and hygiene company Reckitt, will join Starbucks in October and take over from its iconic interim CEO Howard Shultz in April.

    Narasimhan joins the growing ranks of Indian-descent CEOs heading leading US corporate giants such as Satya Nadella of Microsoft, Sundar Pichai of Alphabet, Shantanu Narayen of Adobe, Punit Renjen of Deloitte and Raj Subramaniam of FedEx. Major former Desi CEOs include Indra Nooyi of PepsiCo and Ajay Banga of Mastercard.

    The incoming Starbuck CEO studied mechanical engineering at the University of Pune and then he headed west, picking up Masters in German and International Studies from The Lauder Institute at The University of Pennsylvania and an MBA in Finance from The Wharton School of The University of Pennsylvania.

    “Starbucks commitment to uplift humanity through connection and compassion has long distinguished the company, building an unrivaled, globally admired brand that has transformed the way we connect over coffee. I am humbled to be joining this iconic company at such a pivotal time, as the reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future,” said Narasimhan, adding, “I look forward to working closely with Howard, the Board, and the entire leadership team — and to listening and learning from Starbucks partners — as we collectively build on this work to lead the company into its next chapter of growth and impact.”

    He will relocate to Seattle, Washington, from London and will work closely with Shultz before taking over formally in April.

    “Laxman is an inspiring leader. His deep, hands-on experience driving strategic transformations at global consumer-facing businesses makes him the ideal choice to accelerate Starbucks growth and capture the opportunities ahead of us. His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders,” said Shultz.

    Shultz’s handpicked successor Kevin Johnson retired in April after five years and Shultz returned to take back control of the company as interim CEO and a search got underway for a long-term head, which ended with Narasimhan being announced on Thursday.

    Shultz will remain a member of the Starbucks board, the company said and he will “remain closely involved with the company’s reinvention and act as an ongoing advisor to Narasimhan”.

    Narasimhan previously worked with PepsiCo, including as global Chief Commercial Officer, as a senior partner at McKinsey & Company, before that. At McKinsey he had been focused on its consumer, retail and technology practices in the US, Asia and India.

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  • Sri Lanka qualify for Super Four with thrilling two wicket win

    Sri Lanka qualify for Super Four with thrilling two wicket win

    Chasing a challenging total of 184, Sri Lanka started off well, scoring 48 runs in the powerplay. But they soon found themselves in trouble at 77/4 in the ninth over…reports Asian Lite News

    Former champions Sri Lanka held their nerve to qualify for Super Four of the Asia Cup here with a thrilling two-wicket win over Bangladesh in a crucial Group B match at Dubai International Cricket Stadium, here on Thursday.

    While Sri Lanka and Afghanistan qualified for Super Four from Group B, it was the end of the tournament for Bangladesh, who lost both their matches. On the other hand, India have qualified for Super Four from Group A and the winner of the clash between Pakistan and Hong Kong on Friday will take the final slot.

    Chasing a challenging total of 184, Sri Lanka started off well, scoring 48 runs in the powerplay. But they soon found themselves in trouble at 77/4 in the ninth over.

    However, Kusal Mendis, helped by a series of let-offs, compiled a half-century (60 off 37) and kept Sri Lanka in the game. Once Mendis got out, captain Dasun Shanaka had the task of keeping the momentum and he took Sri Lanka close to victory with his crucial knock (45 off 33) before getting out in the 18th over.

    At 158/7 in the 18th over, Sri Lanka’s hopes appeared done and dusted but Chamika Karunaratne gave some lifeline to the innings with his 16 off 10. Just when it looked like he will take Sri Lanka home, a suicidal run cost Karunaratne his wicket in the fifth ball of the 19th over.

    Though, the penultimate over eventually turned out to be a productive one for Sri Lanka, who managed 17 runs off Ebadot Hossain’s over to bring the equation in their favour.

    Sri Lanka needed 8 runs from 6 balls and Theekshana took a single in the first ball of that final over. Debutant Asitha Fernando (10 not out off 3 balls) then hit a much-needed boundary which was then followed by two runs off the next ball.

    Sri Lanka needed only 1 from 3 at that stage but it was then relayed to the on-field umpire that Mahedi had overstepped which gave the island nation a thrilling two-wicket win with two wickets in hand and four balls to spare. It was also the highest-ever successful run chase in UAE in T20Is, beating Afghanistan’s run chase of 180 against UAE in 2016.

    Ebadot Hossain (3/51) was the most successful as well as an expensive bowler for Bangladesh while Taskin Ahmed (2/24), Mustafizur Rahman (1/32), and Mahedi Hasan (1/30) were the other wicket-takers.

    Earlier, the whole first innings of the game ebbed and flowed with both teams throwing punches at each other but eventually, Bangladesh were successful in putting on a competitive total of 183/7 in 20 overs.

    Put into to bat first, Bangladesh promoted Mehidy Hasan Miraz (38 off 26) to open the innings and he gave them a flying start. However, Sri Lanka fought back with wickets at regular intervals in the middle overs.

    Afif Hossain then came on and took the game by the scruff of the neck and slammed his way to a 22-ball 39, giving impetus to the innings. He put up a 57-run stand off 37 balls for the fifth wicket before getting out in the 17th innings.

    Mosaddek Hossain (24 not out off 9) and Taskin Ahmed (11 off 6) carried forward that momentum and smashed 24 runs off 11 balls for the eighth wicket to take Bangladesh to 183-7.

    For Sri Lanka, Chamika Karunaratne returned with figures of 2/32, while Wanindu Hasaranga de Silva scalped 2/41.

    Brief scores: Bangladesh 183/7 in 20 overs (Atif Hossain 39, Mehdiy Hasan Miraz 38; Chamika Karunaratne 2/32) lost to Sri Lanka 184/8 in 19.2 overs (Kusal Mendis 60, Dasun Shanaka 45; Ebadot Hossain 3/51) by 2 wickets.

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  • BioNTech gets US nod for Omicron booster

    BioNTech gets US nod for Omicron booster

    The companies noted that they will supply the original and bivalent vaccines under their existing supply agreement with the US government…reports Asian Lite news

    Germany’s BioNTech SE and its US partner Pfizer Inc. have gained emergency US approval for their booster vaccination for the Omicron variant of the coronavirus in the US.

    The US Food and Drug Administration (FDA) granted emergency use authorisation for a 30-microgram booster dose of the Pfizer-BioNTech Covid-19 vaccine, bivalent and Omicron BA.4/BA.5, for individuals aged 12 years and above, Pfizer and BioNTech said in a statement on Wednesday.

    The companies noted that they will supply the original and bivalent vaccines under their existing supply agreement with the US government, dpa news agency reported.

    Booster vaccinations for individuals aged 12 years and above are anticipated to start subject to and after the Centers for Disease Control and Prevention (CDC) endorse a potential recommendation by the Advisory Committee on Immunisation Practices.

    Pfizer and BioNTech said that they will begin shipping bivalent doses as directed by the US government.

    Eligible US residents will continue to receive the vaccine for free, consistent with the US government’s commitment to free access to Covid-19 vaccines.

    The companies stated that an application for an Omicron-adapted bivalent vaccine for children aged between 5-11 years is planned for submission to FDA in early October.

    The companies are working with the FDA to prepare an application for an Omicron-adapted bivalent vaccine in children aged between six months to 4 years.

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