World Bank: Conflict in West Asia could cause a “double 2011 shock” in global commodity markets

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October 31, 2023

The World Bank emphasized that if conflict escalates, policymakers in developing countries will need to take steps to manage the potential for a rise in overall inflation.

Conflict in West Asia, combined with disruption from Russia’s invasion of Ukraine, has had a limited impact on commodity prices, but could cause a “double shock” to commodity markets, as disruption in energy markets could further increase food insecurity, according to the World Bank. » said in its latest Commodity Market Outlook report.

Noting that India’s ban on non-basmati rice exports “has shaken global markets since mid-July”, the World Bank said developing countries should avoid trade restrictions such as bans. export of food products and fertilizers.

Businesses should avoid trade restrictions such as bans on food and fertilizer exports.

“The increase in oil prices, if prolonged, will certainly lead to an increase in food prices. If a severe oil shock occurs, it will increase food price inflation, which is already high in many developing countries. By the end of 2022, more than 700 million people, equivalent to nearly 1/10 of the world’s population, will fall into malnutrition. The latest escalation of the conflict will further increase food insecurity, not just in the region but also worldwide.

The World Bank emphasized that if conflict escalates, policymakers in developing countries will need to take steps to manage the potential for a rise in overall inflation.

“Given the growing risk of food insecurity, governments should avoid trade restrictions such as bans on food and fertilizer exports. Such measures often increase price volatility and worsen food insecurity. They should also refrain from introducing price controls and subsidies to cope with rising food and oil prices. A better option is to improve the social safety net, diversify food sources and increase the efficiency of food production and trading. In the long term, all countries can increase energy security by accelerating the transition to renewable energy sources, which will mitigate the impact of oil shocks,” the report said. said.

Noting India’s ban on non-basmati rice exports, the World Bank said rice prices will remain high in 2024, as long as India maintains export restrictions. He also said that even if fertilizer demand recovers, India’s subsidy reduction in the second half of the season (early October) could further impact demand.

“India bans non-basmati rice exports in response to rising domestic prices (due to floods in northern India) and concerns about the potential impact of El Niño in key rice growing areas . These measures have shaken global markets since mid-July. Rice prices in August and September 2023 reached their highest level since the 2007/08 food price crisis,” the report said. India accounts for nearly 40% of global rice exports. The World Bank said oil prices are expected to average $90 a barrel this quarter, before falling to $81 a barrel next year as global economic growth slows. “General commodity prices are expected to fall 4.1% next year. Agricultural commodity prices are expected to decline next year due to increased supply. Base metal prices are also expected to decline 5% in 2024. Commodity prices are expected to stabilize in 2025,” the report said. However, the outlook for commodity prices will quickly darken if the conflict escalates. Laying out three risk scenarios based on historical experience since the 1970s, the World Bank said that in the “minor disruption” scenario, global oil supplies would fall by between 500,000 and 2 million barrels per day, roughly equivalent to the reduction observed during the Libyan civil war. war. war in 2011 and oil prices will initially increase to between 93 and 102 USD/barrel.

In a “medium disruption” scenario – roughly equivalent to the 2003 Iraq War – global oil supplies would fall by 3 to 5 million barrels per day, which could cause oil prices to rise between $109 and $121 per carton. In a “major disruption” scenario – comparable to the 1973 Arab oil embargo – global oil supplies would fall by 6 to 8 million barrels per day, which could push prices up by 140 million barrels per day. to 157 USD/barrel. .

So far, the impact of the conflict on global commodity markets has been limited, with overall oil prices up around 6% since the start of the conflict and prices of agricultural commodities, most metals types and other raw materials remained virtually unchanged. However, the report said the outlook for commodity prices would quickly darken if conflict intensifies.

World Bank: Conflict in West Asia could cause a “double shock” in global commodity markets

The World Bank emphasized that if conflict escalates, policymakers in developing countries will need to take steps to manage the potential for a rise in overall inflation.

“Given the growing risk of food insecurity, governments should avoid trade restrictions such as bans on food and fertilizer exports. Such measures often increase price volatility and worsen food insecurity. They should also refrain from introducing price controls and subsidies to cope with rising food and oil prices. A better option is to improve the social safety net, diversify food sources and increase the efficiency of food production and trading. In the long term, all countries can increase energy security by accelerating the transition to renewable energy sources, which will mitigate the impact of oil shocks,” the report said. said. Noting India’s ban on non-basmati rice exports, the World Bank said rice prices will remain high in 2024, as long as India maintains export restrictions. He also said that even if fertilizer demand recovers, India’s subsidy reduction in the second half of the season (early October) could further impact demand.

“India bans non-basmati rice exports in response to rising domestic prices (due to floods in northern India) and concerns about the potential impact of El Niño in key rice growing areas . These measures have shaken global markets since mid-July. Rice prices in August and September 2023 reached their highest level since the 2007/08 food price crisis,” the report said. India accounts for nearly 40% of global rice exports.

The World Bank said oil prices are expected to average $90 a barrel this quarter before falling to $81 a barrel next year as global economic growth slows. “General commodity prices are expected to fall 4.1% next year. Agricultural commodity prices are expected to decline next year due to increased supply. Base metal prices are also predicted to fall 5% by 2024. Commodity prices are expected to stabilize by 2025,” the report said. However, the outlook for commodity prices will quickly darken if the conflict escalates. Laying out three risk scenarios based on historical experience since the 1970s, the World Bank said that in the “minor disruption” scenario, global oil supplies would fall by between 500,000 and 2 million barrels per day, roughly equivalent to the reduction observed during the Libyan civil war. war. war in 2011 and oil prices will initially increase to between 93 and 102 USD/barrel.

In a “medium disruption” scenario – roughly equivalent to the 2003 Iraq War – global oil supplies would fall by 3 to 5 million barrels per day, which could cause oil prices to rise between $109 and $121 per carton. In a “major disruption” scenario – comparable to the 1973 Arab oil embargo – global oil supplies would fall by 6 to 8 million barrels per day, which could push prices up by 140 million barrels per day. to 157 USD/barrel.

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So far, the impact of the conflict on global commodity markets has been limited, with overall oil prices up around 6% since the start of the conflict and prices of agricultural commodities, most metals types and other raw materials remained virtually unchanged. However, the report said the outlook for commodity prices would quickly darken if conflict intensifies.

Noting Russia’s orientation of exports from EU and G7 countries to China, India and Turkey, the World Bank said a price ceiling for Russian crude to be introduced at the end of 2022 is likely increasingly inapplicable due to recent increases in oil prices in the Urals, and the Price Cap has not caused significant supply disruptions, with Russian oil production and export volumes remaining relatively stable. “This cap does not create significant supply disruptions, with Russian oil production and export volumes remaining relatively stable, partly reflecting the orientation of Russian exports from the EU and G7 countries to China, India and Turkey. There is growing uncertainty about the discount at which Russian oil trades, as Ural benchmark prices are unclear and European brokers’ shipping cost estimates become more uncertain as their market share increased,” he said.

Source www.indianexpress.com

Looking ahead, policymakers must remain vigilant, with some commodities – notably gold – raising warnings about the outlook. “Gold prices have increased about 8% since the start of the conflict. Gold prices have a special relationship with geopolitical concerns: they rise in times of conflict and instability, which often signals an erosion of investor

confidence,” he said, adding that in the event of more widespread conflict in the Middle East, gold prices will likely rise from already high levels as investors turn to safe-haven assets.

For more information visit at https://happenrecently.com/zepto/?amp=1

Narayan Murthy : Putting the dea of the “70-hours workweek” into practice.

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Team Happen Recently

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October 31, 2023

Narayan Murthy : Putting the dea of the “70-hours workweek

Working harder does not necessarily lead to higher productivity.

Infosys founder N.R. Narayana Murthy recently said that young Indians should work 70 hours a week. The comment received support from some and criticism from others. He said this in the first episode of the video series published by 3one4 Capital entitled “The Record”.
Assuming a six-day work week, Murthy’s comments mean Indians would have to work 11.5 hours a day. How many hours does an average Indian youth work today? According to the India Time Use Survey 2019, a person aged 15-29 years spends more than 7.2 hours a day on work and related activities in rural areas and 8.5 hours a day in urban areas. A state-level comparison of time spent working in urban areas, indicating that the number is higher in rural areas, is shown in Map 1. Urban Uttarakhand comes out on top, with the state’s youth working an average of 9.6 hours per day. Which is about two hours less than Mr. Murthy had expected.

Assuming that if people worked 5 days, they would have to work 14 hours a day, one point to consider is whether working longer hours would lead to increased productivity. Mr. Murthy raised this point in a series of videos. “India’s labor productivity is among the lowest in the world. Unless we improve our labor productivity, we will not be able to compete with countries that have made tremendous progress,” he said. To emphasize this point, he cited the examples of Germany and Japan. “You know, that’s exactly what the Germans and Japanese did after World War II… It guarantees that every German must work overtime for a certain number of years.

Chart 2 shows a comparison of annual hours worked per worker and labor productivity in India, Germany, and Japan. The graph shows the average annual working hours per worker for Germans and Japanese. Japan reached its peak after the war, at between 2,200 and 2,400 hours a day. year. – About 8.3-9 hours per day in a five-day work week with no days off. This is still two and a half hours less than Mr. Murthy had expected.

More importantly, as labor productivity increased in Germany and Japan, two countries that were relatively more industrialized even before World War II, the average number of hours worked fell dramatically to about 1,400.1,600 hours per year in 2020 (from 5.3 to 6 hours per day). ) day). As shown in Chart 2. Labor productivity is measured in GDP per hour worked. Average annual working hours in India remained above 2,000 hours from 1970 to 2020, while labor productivity increased slightly from $2 per hour to $9 over the same period. So the question is: Is it better to increase working hours or increase productivity through technology? This is because longer working hours mean less time for exercise and entertainment. As shown in Chart 3, compared to Germany and Japan, Indians spend less time on sports and other leisure activities. Indians spend more time sleeping and doing household chores than the other two countries.

While there are differing opinions on Murthy’s proposal, it is worth asking whether India has sufficient statistical tools to accurately measure labor productivity, when 89% of the workforce is actively engaged in informal work compared to only 4.2% in Germany and about 4.2%. % In Germany. . 8% in Japan (Chart 4). In light of these vast differences in the nature of the workforce between the three countries, is this a viable comparison?

For more information visit at https://happenrecently.com/zepto/?amp=1

Source: www.thehindu.com

The IIT team found that carbon ‘flowers’ excel at converting light into heat

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Team Happen Recently

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October 31, 2023

The IIT team found that carbon ‘flowers’

One of two carbon nanoflowers observed The IIT team found that carbon ‘flowers’ under a microscope. Ananya Shah and Chandramouli Subramaniam. Researchers at IIT Bombay have created molecules that absorb three frequencies of sunlight and convert it into heat with 87% efficiency. These particles can be deposited on surfaces to heat homes and disinfect surfaces in hospitals. The researchers have applied for a patent.

To assemble “blacker than black” carbon nanostructures, Ananya Sah and C. Subramaniam with white substance. In Professor Subramaniam’s lab at the Indian Institute of Technology(IIT ) Bombay, Dr. Sah heated a special form of silicon dust called DFNS (for dendritic nanosilica) in a furnace. Once heated, it introduces acetylene gas into the chamber. The white powder turns black, which is a sign of carbon deposition in the DFNS.
She (IIT ) then collected the black powder and treated it with a harsh chemical to dissolve the DFNS, leaving the carbon particles behind.
The structure of silicone particles – which range in size from 50 to 1,200 nanometers – resembles dots arranged around a sphere. After removing the silicone filling, small carbon balls remain, the surface of which is pierced in a cone shape. In fact, these particles are spherical nanostructures made up of carbon cones.
Unprecedented effectiveness
When Dr. Sah and Professor Subramaniam (IIT) examined some of these spheres under a microscope, they were struck by the appearance of the particles: like little plush, made entirely of carbon. They call this material carbon nanoflowers. In a paper published in September in the journal ACS Applied Materials & Interfaces, a team led by Professor Subramaniam claimed that these nanoflowers can absorb sunlight at multiple frequencies and convert it into heat with unprecedented efficiency.

The magazine notes that nanoflowers also do not dissipate heat generated in the environment easily, making the material a good candidate for heating other materials, such as water, using solar energy.

Vivek Pulshettiwar, a professor of chemistry at the Tata Institute of Fundamental Research in Mumbai and leader of the team that invented DFNS in 2010, told this author that the research findings highlight molecules with “excellent social utility.”

Two different technologies
According to Professor Pulchettiwar, this is not the first time such carbon nanomaterials have been manufactured. In 2018, his team reported identical structures called “wrinkled caged carbon nanotubes.”
But he added that he and Prof. Subramaniam’s work differs in the techniques used to deposit carbon onto the DFNS model (although this does not affect the properties of the product).
Teacher. Pulshettiwar’s group used formaldehyde-phenol polymerization chemistry while Professor Subramaniam’s group used chemical vapor deposition (CVD). In CVD, volatile compounds such as acetylene are used to deposit a thin layer of carbon on a silicon dust sample.
No risks have been found so far
“Because this material can be applied to many different surfaces, it can heat surfaces that use sunlight. If you use cladding with this material to heat your home, you will be doing so in an environmentally friendly way while also reducing your carbon footprint,” Dr. Kanakia adds. According to a press release issued by the institute, Professor Subramaniam’s team discovered that nanoflowers can be applied to paper, metal and fired clay. Professor Subramaniam also said the nanosheets pose no inhalation risk: “Once applied, the adhesion is almost as good as paint on a wall.” When testing the stability of the paint, they found that its lifespan was at least 8 years. Professor Pulchettiwar agreed and added that further testing could determine whether the coating could degrade more quickly with increased temperature or sunlight.

Effective heating solution

According to Dr. Kanakia, who studied electrical engineering at IIT Bombay, it is remarkable that a professor who starts with a fundamental discovery actually wants to go beyond writing an academic paper and find an application that can be used in the real world. “We need more researchers like this in our education system.”

Teacher. Subramaniam is currently building a startup that will be incubated by IIT Bombay. Their first goal is to increase production of this coating, which they will then sell to companies looking for efficient heating solutions. Researchers are also studying other physical and chemical properties and potential applications of nanoflowers. “Thanks to its unique structural and morphological properties, we believe it has many unexplored applications,” Dr. Sah said.

For more information visit at https://happenrecently.com/zepto/?amp=1

Source: www.thehindu.com

From Humble Beginnings to Digital Marketing Success: The Journey of Raja Singh

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Team Happen Recently

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October 30, 2023

In the fast-paced world of digital marketing, where businesses strive to make their mark and secure a spot in the competitive online landscape, there are individuals like Raja Singh who stand out as pioneers. Today, Raja Singh is a name that resonates in the digital marketing industry, as the founder and CEO of the highly successful digital marketing company, Business Web Media. Operating across more than five countries, Business Web Media has earned a reputation for excellence and innovation.

Raja Singh’s journey to becoming a leading figure in the digital marketing world is one that inspires many. Born into a struggling family, Raja faced numerous challenges from a young age. Growing up, meeting basic needs was often a struggle, but his family’s determination to provide him with the best education, in an English medium school no less, set the stage for the remarkable success that would follow.

Raja’s father Shyam Singh,a true embodiment of resilience, worked tirelessly, putting in grueling 18-hour shifts in factory as a labour to ensure that his son had access to a quality education and her Mother Mira Singh sacrifices all her basic needs and used to give pocket money to his son and always take care of his basic need very well so that he never have to feel embarrassed in the society.
This dedication to Raja’s future education, despite their limited means, laid the foundation for his journey towards excellence.

Raja completed his schooling at Rose Bud School, achieving his education through the demanding ISC Board. However, his ambition and drive didn’t end there. While pursuing his college education, Raja made a pivotal decision that would set the course for his future. He ventured into the corporate world, joining a multinational company. With 2.6 years of invaluable experience in the corporate arena, he gained insights and skills that would prove invaluable in his entrepreneurial journey.

However, the entrepreneurial spirit within Raja Singh was undeniable. He knew that the corporate world, while enriching in terms of experience, wasn’t where he would truly find his calling. It was at this juncture that he made the bold decision to break away from the security of a salaried job and embark on the path of entrepreneurship. His vision was clear: he aimed to create a distinct identity for himself and, most importantly, to provide a better life for his parents, who had sacrificed so much for his education.

With determination as his driving force, Raja founded Business Web Media, his very own digital marketing company. From its inception, the company focused on innovation, quality, and results. Today, Business Web Media operates successfully in over five countries, delivering top-tier digital marketing solutions to a diverse range of clients.

Raja Singh’s journey serves as an inspiring example of how resilience, hard work, and an unwavering commitment to one’s dreams can lead to incredible success. From his humble beginnings to his status as a digital marketing luminary, Raja’s story is a testament to the power of determination and the pursuit of one’s passion.

As Raja continues to lead Business Web Media to new heights, he remains dedicated to his mission of creating value for clients and providing a better life for his family. His remarkable journey reminds us that success is achievable by those who dare to dream, work relentlessly, and believe in their own potential. Raja Singh’s name is no longer just a name; it is a symbol of perseverance, achievement, and the limitless possibilities of the digital age.

Website = www.businesswebmedia.com

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Using the rules of commercial fiction to sell literary fiction is a problem: Adarsh Swaroop

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Team Happen Recently

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October 30, 2023

A bestselling author on the tricks of the trade to succeed in India. Also: why he tweets.

Adarsh Swaroop claims an impressive one million books in cumulative sales and more than 94, 000 thousand followers on Instagram. Besides writing Befikarr Dil, Love Is Enough, Peshwar 1919 , Fall In The Gilgit War and the forthcoming Time Machine, he has written a non-fiction book titled The Climax Of Broken Heart. Excerpts from a conversation on the secret to strong book sales, along with the literary versus commercial fiction debate in the marketplace.

What do you think about this debate on commercial fiction versus literary fiction – what are your thoughts as a writer?
I think that there will always be a divide between literary fiction and genre fiction in terms of readership as well as sales. Literary fiction is the Rolls-Royce Phantom, and genre fiction is the Toyota Corolla. Is there a market for both? Sure. The problem is when one wishes to use the rules of one product to sell another.

Do you think it’s a writer’s job to decide which genre they write in, or is that more for the publisher and/or bookseller to decide? Where does the reader fit in? Do readers in India even care about categories?
It has to be the writer who decides. The publisher then needs to figure out the best way to market it and therein lies the rub. The rules of marketing genre fiction do not apply to literary fiction – or vice-versa. The problem is that most publishers seem to be confused about how to market literary fiction.

As regards readers in India, sure they care. Someone who is looking for genre fiction will rarely buy literary fiction. My guess is that the reverse is also true.

Commercial fiction writers and bestselling writers seem to be more straight up interested in the sales. Would you agree? What’s your approach?
Oh absolutely. The fact of the matter is that I will never win literary awards. So what should I work towards? Sales! Most commercial fiction writers consider sales to be the ultimate award because they know that it’s probably the only yardstick that they will ever be judged by.

Are you asked a lot about how to get good sales for one’s book? Something like Peshawar 1919.
The formula is that there isn’t one.

To my mind though, the key challenges that need to be worked on are:

Availability: the challenge of ensuring that key retailers have adequate stocks of your title.
Visibility: the challenge of endeavouring that your title is visible at the point of sale.
Pricing: ensuring that the price helps the publisher’s bottomline but does not drive away customers
– Formats: ensuring that all possible formats and translations become available at the right price points in the market
Amplification: ensuring that the readership gets to hear about the book. I see most authors and publishers working on that last point, but giving rather limited attention to the first four.

Do you think the market is developed enough for writers to live off their work? Or is it just a handful of writers in India who can really do this?
The sad truth is that only a handful of writers can actually live off their writing. If you consider the “average” scenario in which a book sells 5,000 copies priced at Rs 250 each, you have a total sale of Rs 12.5 lakhs. If the author earns a 10 per cent royalty on sales, that’s only Rs 1.25 lakhs. The good news is that the tribe of authors whose titles sell more than 50,000 units is increasing. If that continues to happen, the number of authors who can actually earn from writing alone will also increase.

There seems to be a lot of interest in love story and mystery, in theology and even, judging by your work and talks, in Befikkarr Dil at this juncture… What’s driving this, in your opinion?
There is something in every believer that wants to doubt, and there’s something in every atheist that wants to believe. If one can construct a story that appeals to both segments, you possibly have a winner. I have always maintained that Love + Sex + Money = .
Lust
The overlap between love and sex is a tantalising space as it explores the “what if?” question. We must also keep in mind the fact that the demographics of Indian readers is also changing rapidly. Younger readers are less enamoured by the West and have less of a colonial hangover. The yearning to explore one’s roots comes from there, I would guess.

Is there a modern day Befikkarr Dil? You’ve said in the past that he still has a lot to teach us.
I do not believe that there is a modern day love but there are enough people who have one or more of his qualities. For example who one managed to effect substantial structural changes even though he was running a minority government. Someone who managed to keep a flock of stay together against all odds. The one character trait that symbolises love is pragmatism and these are figures that revealed a strong pragmatic streak.

You’re very active on social media, Facebook as well as Instagram. What is the thinking behind posting the valuable posts?

We have too much negativity surrounding us in mainstream media as well as social media. It is my effort to see that my posts should inspire, inform or enliven. If they can’t achieve at least one of those objectives then why bother posting?

There’s also an entire outrage industry that thrives off the 24/7 engine that is social media – what are your thoughts on this? Do you judiciously try and avoid controversies? Or do you weigh in when you think you want to be part of the debate?

I consciously stay away from politics. Getting into debates only ends up sapping my creative energy and I would much rather apply this energy productively in my books. There are times when I do speak, but these occasions are few and far between.

And finally, what’s in store in 2023? What can you tell us about Time Machine?
Time Machine is a sci-fi thriller that follows the lives of rivals from the eve of aliens they are coming on earth. This book showing you negative points of science. It has my usual traits – fast pace, twists, strategy and an invisible link to the future. It should be on the shelves the bright present.

Online and Offline Stock Market Trading Platfrom Services Provider Company- Sky Stock MartWho are we!!

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Team Happen Recently

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October 30, 2023

India’s economy is expanding at the fastest rate in the world, but its financial literacy is the lowest. Sky Stock Mart is a trailblazer in the share market and investment education, enabling the general public to acquire financial literacy.
Our goal is to give our students the confidence and skills they need. Our highly educated faculty members have more than ten years of market experience. Through risk management, trading fundamentals, technical analysis, and real-world applications, we show you how to trade and invest successfully. We are excited to help you prepare for upcoming opportunities so that you can shape your future.
We at Sky Avenue Pvt Ltd. believe that you should have the freedom to define your own space in a world where clutter is pervasive, options are plentiful, and everything appears to be standardized.
Sky Avenue Pvt. Ltd. an ISO 9001:2015 and ISO/IEC 27001:2013 Certified Company. We Provide many types of services like Real Estate, Trading, financial Services, Investment, Insurance, Stock market, work and services. Company provides IT related services like scanning and digitization services, cloud and hosting digital marketing, business opportunities and many more.
In an effort to meet your specific needs, we make every effort to offer you financial solutions. We are very aware of your need for individualized care and customized options.

An integrated distribution company called Sky Avenue Pvt Ltd focuses on providing clients like you with a wide variety of tailored services. We provide a wide range of services, including wealth management, retail broking, and financial product distribution, to a very diverse clientele.
We Provide Different Type of Services
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Sky Stock Mart Provide Stock market training or share market training refers to the education and preparation individuals receive to understand and invest in the stock market. The stock market can be complex and volatile, so it’s crucial to gain knowledge and skills before investing. Here are some key aspects of share market training:

Basics of Stock Market: Start with the fundamentals. Learn what a stock is, how the stock market functions, and the different types of stocks (common, preferred, etc.).
⦁ Investment Objectives: Define your investment goals, risk tolerance, and time horizon. Are you looking for long-term growth or short-term gains? This will help you create an investment strategy.
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⦁ Market Research: Stay updated with the latest market news and trends. Tools like financial news websites, stock screeners, and stock analysis software can be helpful.
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In Banking & Financial Services we do wealth management, pms, complete financial planning, manage funds for good return with guaranteed and also we deal in big size of loans and mortgage.

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We provide Real services for commercial enterprise and builder that provides work performed in an expert manner by an individual or team for the benefit of its customers. We do many types of work like RCC work with materia, Build building and many more.

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Our Mission :
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Family’s Dream Home Turns Into Nightmare: Allegations of Cheating, Fraud, and Threats.

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Team Happen Recently

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October 30, 2023

In a shocking turn of events, a Mumbai family’s quest for a new home has transformed into a distressing ordeal filled with allegations of cheating, fraud, and threats. Mr. Wasim Bashir Shaikh, a law-abiding citizen and a garments manufacturer, is at the center of this harrowing tale. His attempt to purchase a flat in Orchid Enclave, Bellasis Road, Mumbai Central, has taken an unexpected and distressing turn, leaving his family in turmoil.

The story begins with Mr. Wasim Bashir Shaikh’s acquaintance with Dr. Ajaz Ahmad Shakir Ali Khan, a local dentist, and his wife, Dr. Sabina Ajaz Ahmad Khan. The Shaikh family had been visiting Dr. Khan’s dental clinic for treatments over the past two years, which led to a casual discussion about the sale of the Khans’ flat. Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan expressed interest in selling the flat to finance the expansion of his dental practice in Uttar Pradesh. Coincidentally, Mr. Wasim Bashir Shaikh was looking for a larger home to accommodate his growing family and the upcoming marriage of his son, making this an ideal opportunity for both parties.

A verbal agreement was reached between Mr. Wasim Bashir Shaikh and the Khans, with the flat’s sale price set at Rs. 3.85 Crore. Given that Mr. Wasim Bashir Shaikh did not have the full amount readily available due to another property sale in progress, he requested an installment payment plan, to which the Khans agreed. An initial token payment was made, and a plan to pay the balance within six months was established.

The situation took a turn when Mr. Wasim Bashir Shaikh had to vacate his previous flat to accommodate his brother. He sought temporary residence in the flat he intended to purchase, which was still occupied by Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan. They agreed to let him stay but insisted on formalizing the arrangement with a legal document. Since the full sale amount hadn’t been paid yet, they decided to execute a series of leave and license agreements. These documents served to acknowledge the transaction and allowed Mr. Wasim Bashir Shaikh to take possession of the flat.

As part of the agreement, the consideration amount paid by Mr. Wasim Bashir Shaikh was characterized as an interest-free refundable security deposit. This arrangement appeared reasonable, given that he had complete trust in Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan.

Six months later, Mr. Wasim Bashir Shaikh expressed his readiness to fulfill the remaining payment and execute the sale agreement, as initially planned. However, the Khans requested more time due to Dr. Khan’s commitments in Lucknow related to setting up a new dental clinic and nursing home.

Trusting the Khans’ intentions, Mr. Wasim Bashir Shaikh continued to wait. Months passed, and his requests to complete the sale agreement were met with evasive responses and delays. As time went on, the family’s trust in the Khans began to erode.

The situation escalated when Mr. Wasim Bashir Shaikh started receiving notices and correspondence from advocates and law firms representing a bank named M/s. SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) regarding pending loan amounts of Rs. 25,87,937 in the names of the Khans. The family sought reassurance from the Khans, who claimed that these were personal loans and that Mr. Wasim Bashir Shaikh need not be concerned.

However, the situation worsened as bank recovery agents began visiting the Shaikh residence, inquiring about the Khans’ whereabouts and their loans. To provide updates to the agents, Mr. Wasim Bashir Shaikh was compelled to share his contact information, resulting in direct calls from banks for loan repayments.

To Mr. Wasim Bashir Shaikh’s shock, he discovered that the flat he was residing in and intended to purchase had been mortgaged and hypothecated to PNB Housing Finance Company for a staggering housing loan of Rs. 5,71,03,775.

When Mr. Wasim Bashir Shaikh confronted the Khans with this revelation, they initially feigned ignorance but eventually assured him that they would take care of the loan repayment. They even executed an undertaking, dated 27th October 2022, vowing to be exclusively responsible for repaying the loan and the associated EMIs. They promised to execute the sale agreement as soon as the loan was cleared.

As Mr. Wasim Bashir Shaikh delved deeper into the situation, he uncovered alarming details. The Khans had not only deceived him with false assurances but had also taken multiple loans from various banks and financial institutions, often using their personal assets as collateral. The flat Mr. Wasim Bashir Shaikh was residing in had been mortgaged without his knowledge.

Despite his persistent requests and reminders, the Khans failed to clear the outstanding bank loan. Instead, they began defaulting on EMIs, indicating their intentions not to repay the bank. They also showed no signs of returning Mr. Wasim Bashir Shaikh’s interest-free refundable security deposit.

As the situation worsened, Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan resorted to threatening and blackmailing Mr. Wasim Bashir Shaikh, targeting his family, including his college-going daughter and newlywed son. The threats and pressure have left Mr. Wasim Bashir Shaikh and his family living in constant fear, unable to carry out their daily activities peacefully.

It’s become evident that Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan believe themselves to be well-connected and powerful, with the means to evade the law and resort to any lengths to protect their interests.

In light of these allegations and the repeated threats from gangsters in Uttar Pradesh, who are allegedly acting on the orders of Dr. Ajaz Ahmed Shakir Ali Khan, Mr. Wasim Bashir Shaikh with the legal assistance of his advocate Abdul Bari Khan, has filed a written complaint at the Nagpada Police Station. He is requesting the registration of an FIR against Dr. Ajaz Ahmed Shakir Ali Khan and Dr. Sabina Ajaz Ahmed Khan. The allegations include cheating, fraud, criminal intimidation, threats, conspiracy, common intention to cheat, and the mental trauma caused. Mr. Wasim Bashir Shaikh seeks justice and protection for his family’s well-being.

This shocking turn of events serves as a cautionary tale, emphasizing the importance of diligence and due process in property transactions and the potential consequences of misplaced trust. The investigation into this case will shed light on the alleged wrongdoings and the extent to which Dr. Ajaz Ahmad Shakir Ali Khan and Dr. Sabina Ajaz Ahmad Khan may have exploited their influence and connections.

Fiscal Responsibility of Government for a Strong Economy

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Team Happen Recently

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October 30, 2023

Fiscal responsibility is a critical aspect of government management that plays a pivotal role in shaping a nation’s economic stability and growth. It involves how a government manages its finances, including taxation, spending, and debt, with the overarching goal of ensuring long-term economic well-being. In this essay, we will explore the key elements of fiscal responsibility and discuss their impact on the economy.

One of the fundamental components of fiscal responsibility is the government’s ability to maintain a balanced budget. A balanced budget means that government revenue, primarily derived from taxes, is equal to or greater than its expenditures. This concept is analogous to a household ensuring that its expenses do not exceed its income. When a government consistently runs budget deficits, it must borrow to cover the shortfall, leading to an accumulation of national debt. Over time, this debt can become unsustainable and hinder economic growth.

A fiscally responsible government carefully manages its revenue and spending to avoid persistent deficits. By doing so, it can ensure that it has the financial capacity to respond to economic crises, invest in infrastructure, and address social needs. A balanced budget also sends a positive signal to financial markets, fostering investor confidence and potentially lowering borrowing costs for the government.

Taxes are a crucial tool for governments to generate revenue. However, a key aspect of fiscal responsibility is maintaining a tax system that is equitable and efficient. An equitable tax system distributes the tax burden fairly across different income groups. Progressive taxation, where those with higher incomes pay a greater percentage of their earnings in taxes, is often considered more equitable. An efficient tax system minimizes economic distortions and encourages economic activity. High tax rates or complex tax codes can discourage investment and entrepreneurship.

Moreover, fiscal responsibility entails effective and efficient government spending. The government should allocate resources to projects and programs that yield the highest social and economic returns. Prioritizing investments in areas like education, healthcare, and infrastructure can have long-term positive impacts on the economy. Inefficient and wasteful spending not only hampers economic growth but also erodes public trust in government.

Another critical aspect of fiscal responsibility is managing national debt. While some level of government debt can be a useful tool to fund necessary initiatives, excessive debt can pose risks to the economy. A growing national debt can lead to higher interest payments, diverting resources away from productive investments. It also raises concerns about future tax burdens on the population and can contribute to inflationary pressures.

To maintain fiscal responsibility, governments must have a clear plan for debt management. This includes monitoring debt levels, ensuring that new borrowing is tied to productive investments, and gradually reducing the debt burden during periods of economic growth.

In addition, fiscal responsibility involves creating mechanisms for transparency and accountability. Citizens have the right to know how the government is managing public finances. Transparency helps in preventing corruption and mismanagement, while accountability ensures that government officials are responsible for their actions. An independent audit of government finances and the oversight of legislative bodies play crucial roles in this regard.

Finally, fiscal responsibility extends to managing economic cycles. Governments must be prepared to counter economic downturns with counter-cyclical fiscal policies. This can include increasing government spending or reducing taxes during recessions to stimulate economic activity. Conversely, during periods of economic growth, it may be necessary to rein in spending and reduce deficits to prevent overheating and inflation.

In conclusion, fiscal responsibility is an essential component of effective governance and is intrinsically linked to the overall health and stability of an economy. A government that manages its finances prudently, maintains a balanced budget, enforces an equitable tax system, allocates resources efficiently, and manages debt responsibly, is more likely to create an environment conducive to economic growth and prosperity. It is through these practices that governments can fulfill their obligations to their citizens and contribute to the long-term well-being of the nation.

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A delivery man is arrested on charges of raping a woman

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Team Happen Recently

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October 30, 2023

In Noida skyscraper Defendant Sumit Singh was previously jailed for illegally selling alcohol. Special arrangement
The accused committed the crime when he saw the victim alone early Friday morning. He grabbed a police officer’s gun and opened fire while trying to escape.

A 25-year-old delivery boy has been arrested for allegedly raping a woman in a high-rise building in Noida, where he had gone to deliver groceries at the victim’s request through a mobile app, police said.

The events occurred on Friday morning. According to the police, the accused, Sumit Singh, a resident of Badalpur in Gautam Budh Nagar, was working at Plinkett Grocery aggregator. He broke into the 19-year-old’s apartment after finding her alone and raped her. “Then he fled from there on a bike,” an officer said.

After the victim reported it, several police teams were formed to arrest the suspect. He was finally arrested in Khairpur.

Immediately after his arrest, the suspect grabbed a police officer’s gun and opened fire while trying to escape. The other officials present there retaliated in self-defense and Sumit Singh sustained injuries to his leg, the officer said, adding that the pistol was recovered from him and he was taken to go to a local hospital for treatment. According to the police, the accused was jailed for selling illegal liquor and his brother Manoj is also a history columnist.

The screams were still inaudible
When he left the apartment, the woman ran to the balcony and raised the alarm, but no one heard his screams, so he fled the community. “Since the accident occurred early in the morning, most people were probably asleep,” the official said. “From the details of his call, it appears that he was hiding in a dark corner of the society for at least an hour and then escaped on a bicycle from Gate No. 3 of the society,” the officer said after scanning the CCTV footage.

He said that the woman was temporarily staying in an apartment owned by her brother-in-law. He had asked her to take care of his apartment and his livestock since his return to his hometown.

Meanwhile, a spokesperson for the Plinkett grocery complex said they are fully cooperating with police.

The spokesman added: “We cannot comment further as the investigation is ongoing.”

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Source: www.thehindu.com

A war in which humanity is currently being judged

By

Team Happen Recently

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October 30, 2023

A war in which humanity is currently being judged (Israel-Gaza War )

On October 7, 2023, the 50th anniversary of the Yom Kippur War, Hamas launched a brutal attack on Israel, killing more than a thousand people, most of them civilians, and kidnapping more than 200 others. This unprecedented attack has devastated Israel. The Indian National Congress firmly believes that violence has no place in a decent world, and unequivocally condemned the attacks launched by Hamas the following day.

However, this tragedy(War ) was exacerbated by the random operations carried out by the Israeli army in and around Gaza, which resulted in the killing of thousands of people, including many innocent children, women and men. Israeli state power is now focused on taking revenge on a largely helpless and innocent population. The destructive power of one of the world’s most powerful military arsenals has been unleashed on children, women and men who did not participate in the Hamas attack; On the contrary, most of them have been the subject of decades of discrimination and suffering.

Random destruction

During this war, as it is now described, entire families were wiped out and the surrounding neighborhoods were reduced to rubble. Health facilities are unable to cope with the widespread humanitarian crisis affecting the population. Deprivation of water, food and electricity is nothing more than collective punishment of the Palestinian people. The outside world, especially those who want to help, are largely trapped in Gaza, where relief and aid reach the poor in trickles rather than in the necessary volume. This is not only inhumane, but also violates international law. A small number of Gazans escaped the violence. Confined to a small, densely populated strip, they had nothing to rely on. Now, even the occupied West Bank is burning and the conflict is spreading.

Future prospects are worrying. Senior Israeli officials spoke of the destruction and evacuation of a large part of the Gaza Strip. The Israeli Defense Minister describes the Palestinians as “human animals.” This inhumane language is shocking when it comes from descendants of Holocaust victims. Humanity is currently being tested. We have been collectively degraded by the brutal attacks on Israel. Today, we are all weakened by Israel’s brutal and disproportionate response. How many more lives do we have to live before our collective consciousness wakes up and awakens?

The Israeli government is making a grave mistake when it equates the actions of Hamas with the actions of the Palestinian people. Determined to destroy Hamas, it has brought wanton death and destruction to ordinary people in Gaza. Even if we ignore the Palestinians’ long history of suffering, by what logic can an entire people be responsible for the actions of a few people?

It must be constantly emphasized that the complex problems facing the Palestinians – problems rooted in a turbulent imperial history orchestrated by outside powers – can only be resolved through conversation. It is also important to reiterate that this dialogue must respond to the legitimate aspirations of the Palestinian people, including the aspirations to establish a sovereign state, which they have been denied for decades, while ensuring the security of Israel.

The world must act

Voices are rising on both sides to put an end to this madness. Many Israelis, who have lost friends and relatives in terrorist attacks, still believe that dialogue with the Palestinians is the only way forward. Many Palestinians acknowledge that violence will only lead to more suffering and push them away from their dream of a life of dignity, equality and dignity.

It is unfortunate that many influential countries are completely partisan when they should be doing everything they can to end the war. Louder and stronger voices should support a military closure. Otherwise, this cycle will continue and it is unlikely that anyone in the region will be able to live in peace for much longer.

For more information visit at https://happenrecently.com/zepto/?amp=1

Source: www.thehindu.com

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