4:08 PMRupee pares losses to settle flat at 76.18 against US dollar
The rupee pared its initial losses to settle flat at 76.18 (provisional) against the American currency on Tuesday, tracking a positive trend in domestic equities. At the interbank foreign exchange, the rupee opened sharply lower at 76.39 against the US dollar. However, it recovered all its losses to closed at 76.18.
During the day, the local unit witnessed heavy volatility amid concerns over global oil supplies and saw an intra-day high of 76.10 and a low of 76.48. On Monday, the rupee slumped 34 paise to close at 76.18 against the US dollar. Experts believe the volatility will persist till the war situation between Russia and Ukraine and crude price stabilise.
4:05 PMGlobal shares gain as investors watch Ukraine situation
Global shares rose Tuesday as investors eyed the war in Ukraine and inflationary risks including rising energy costs, according to AP's report.
Benchmarks rose in Europe in early trading, while they finished higher in Asia. France's CAC 40 added 0.1% to 6,587.92. Germany's DAX edged up 0.4% to 14,382.47. Britain's FTSE 100 rose 0.3% to 7,467.84. The future for the Dow industrials was 0.3% higher and the S&P 500 future rose 0.2%.
The Russian war on Ukraine and Western sanctions on Russia are adding to worries over disruptions to energy supplies for Europe and surging prices that might hinder progress toward economic recoveries from the pandemic.
With no progress on peace talks, reports are circulating that the EU is setting the table for a Russian oil embargo. Higher energy prices will hugely harm the EU economy, said Stephen Innes, managing partner at SPI Asset Management, AP reported.
3:59 PMOyo to offer free accommodation to Ukraine refugees, starts fundraiser
Hospitality technology platform OYO will offer free accommodation to people fleeing Ukraine. The company has thousands of homes across Europe, said the company in an announcement.
Starting with Poland, it has initiated concerted efforts appealing to 600 plus Belvilla home-owners on its platform in Poland, to open their holiday homes to refugees. These stays will be free for refugees who cannot pay for them, and the costs will be borne by the company and its home-owners who volunteer to host refugees. The company will support administratively, and help cover operational expenses incurred by the home-owners.
OYO has also launched a fundraiser campaign encouraging its employees & the public at large for voluntary donations.
READ HERE... 3:55 PMUkraine war imperils wheat; India, Australia ramp up export
Russia's war in Ukraine has forced farmers worldwide to weigh in whether to change their planting patterns and grow more wheat this spring as the war has choked off or thrown into question grain supplies from a region known as the breadbasket of the world, PTI reported.
Countries like Australia and India have responded with increased grain exports, but there's little room for others to immediately do the same, mainly due to recurrent drought, experts have said.
Ed Kessel, who has a farm along a quiet stretch of western North Dakota, said he may plant some more wheat and ride the tide of high prices that have spiked by a third since the invasion, helping offset losses from drought and the increasing cost of fuel, but not a lot more.
3:53 PMCost of EVs to be at par with petrol-run vehicles in 2 years: Gadkari
Road Transport Minister Nitin Gadkari on Tuesday said rapid strides in technology and green fuel will reduce the cost of electric automobiles, bringing them at par with petrol-run vehicles in the next two years.
Replying in the Lok Sabha on the Demands for Grants for Road Transport and Highways Ministry, 2022-23, Gadkari emphasised the need to shift to cost-effective indigenous fuel and hoped that this fuel will be a reality soon, bringing the pollution levels down and improving the overall situation in Delhi.
Urging MPs to adopt hydrogen technologies for transport, Gadkari asked them to take initiative in their respective districts for converting sewage water to produce green hydrogen.
Hydrogen will soon be the cheapest fuel alternative, he said.
3:36 PMSignificant number of terrorists present in launch pads in Pak, PoK: Govt
A significant number of terrorists remain present in various launch pads in Pakistan and Pakistan occupied Kashmir, Union minister Nityanand Rai said in Lok Sabha on Tuesday. Rai, however, said there is a decrease in the number of infiltration from across the border -- 34 in 2021 as compared to 51 in 2020, 138 in 2019 and 143 in 2018.
Pakistan and India have been observing a ceasefire along the Line of Control (LoC) for over a year now.
When asked about whether Pakistan has built infrastructure along the LoC and whether terrorists have tried to infiltrate from the launch pads from across the border, the union minister of state for home said "information sought to be a sensitive operational matter concerning national security and cannot be divulged in the interest of national security."
Rai, however, said the central government regularly reviews the security situation along the LoC and takes precautionary measures for thwarting any move by threat elements, including terrorists.
3:31 PMUkraine retakes key Kyiv suburb; battle for Mariupol rages
Ukrainian forces said they retook a strategically important suburb of the capital early Tuesday, while Russia's attack on the embattled southern port of Mariupol raged unabated, with fleeing civilians describing relentless bombardments and corpses lying in the streets.
While Russian forces carried on with the siege of Mariupol after the southern port city's defenders refused demands to surrender, the Kremlin's ground offensive in other parts of the country advanced slowly or not at all, knocked back by lethal hit-and-run attacks by the Ukrainians.
Early Tuesday, Ukrainian troops forced Russian forces out of the Kyiv suburb of Makariv after a fierce battle, Ukraine's Defense Ministry said. The regained territory allowed Ukrainian forces to retake control of a key highway and block Russian troops from surrounding Kyiv from the northwest.
3:25 PMUkraine refugee exodus surpasses 3.5 million
The UN refugee agency says more than 3.5 million people have fled Ukraine since Russia's invasion, passing another milestone in an exodus that has led to Europe's worst refugee crisis since World War II.
UNHCR reported Tuesday that 3.53 million people have left Ukraine, with Poland taking in the lion's share - more than 2.1 million - followed by Romania with more than 540,000 and Moldova with more than 367,000.
Shortly after the invasion on Feb. 24, UNHCR predicted that some 4 million refugees might leave Ukraine, though it has been re-assessing that prediction. The outflows have been slowing in recent days after peaking at more than 200,000 each on two straight days in early March.
The International Organization for Migration estimates that nearly 6.5 million people are internally displaced within Ukraine, suggesting that some if not most of them might to flee abroad if the war continues.
3:12 PMAdityanath resigns from UP Legislative Council
Uttar Pradesh chief minister-designate Yogi Adityanath has resigned from the membership of the state legislative council, officials said on Tuesday.
Adityanath sent his resignation letter to Uttar Pradesh Legislative Council chairman Kunwar Manvendra Singh Monday evening and it has been accepted, the Council secretariat said here on Tuesday.
The BJP leader's term as member of the legislative council was till July 6, 2022.
Adityanath, who led his party to a thumping victory in the recent assembly elections, had won the Gorakhpur Urban seat. He is all set to be sworn in as the chief minister for the second term on March 25.
The priest-turned-politician was elected to the Uttar Pradesh Legislative Council in 2017 after becoming the chief minister for the first time.
Earlier, he had represented the Gorakhpur Lok Sabha seat.
2:41 PMPutin wants to conquer not only Ukraine but also Baltic states: Zelensky
Ukrainian President Volodymyr Zelensky believes that his Russian counterpart Vladimir Putin may deliberately impose unrealistic demands on Kiev because he wants to conquer not only Ukraine but also the Baltic states.
When Zelensky was asked to clarify what he meant when he spoke about the risk of a World War III in the event of a failure to negotiate with Putin, Zelensky said: "This means that he (Putin) was not going to end this war. His plan - in which Ukraine is perceived as an intermediate step to the final result - is to occupy the Baltic states, states that were part of the Soviet Union. (He is considering) other states that used to be under control of the Soviet Army and Soviet Union," Ukrayinska Pravda reported.
2:38 PMIn 2021, Delhi most polluted capital in world, no Indian city met WHO air quality standard: Report
Delhi was found to be the most polluted capital in the world for the fourth consecutive year in 2021 and 35 of the 50 cities with the worst air quality were in India, according to a new report.
In 2021, none of the cities in India met the prescribed World Health Organization air quality standards of 5 micrograms per cubic meter, stated the World Air Quality Report 2021, prepared by Swiss organization IQAir and released globally on Tuesday.
The report, presenting an overview of the state of global air quality in 2021, is based on PM2.5 air quality data from 6,475 cities in 117 countries.
2:38 PMOYO to offer free accommodation to Ukraine refugees
Homegrown hospitality technology platform OYO on Tuesday said it will offer free accommodation to refugees fleeing Ukraine.
Starting with Poland, the company has initiated concerted efforts to appeal to its 600-plus Belvilla homeowners on its platform in Poland to open their holiday homes to refugees.
"These stays will be free for refugees who cannot pay for them, and the costs will be borne by the company and its homeowners, who volunteer to host refugees. The company will support administratively, and help cover operational expenses incurred by the homeowners," OYO said in a statement.
1:35 PMSC adjourns Mullaperiyar Dam case hearing, to resume tomorrow
The Supreme Court on Tuesday adjourned the hearing on Mullaperiyar dam dispute between Kerala and Tamil Nadu.
The matter was adjourned for Wednesday by a bench headed by Justice AM Khanwilkar.
The bench was informed by the counsel of the Tamil Nadu government that Kerala has filed new affidavits today morning and therefore the Tamil Nadu government sought adjournment.
1:35 PMSwearing-in of Pramod Sawant as Goa CM on Mar 28; PM Modi to attend ceremony
The swearing-in ceremony of Pramod Sawant as Goa's chief minister will be held on March 28 and prominent BJP leaders, including Prime Minister Narendra Modi, will attend the event.
Talking to reporters on Tuesday, Sawant said the ceremony would be held at Dr Syama Prasad Mookerjee stadium near here on March 28 at 11 am.
Prime Minister Modi, Union Home Minister Amit Shah, BJP national president J P Nadda, Union minister Nitin Gadkari and chief ministers of seven BJP-ruled states would attend the ceremony, he said.
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