Indian Rupee hits record low of 79.58 against US dollar in early trade

News Network
July 12, 2022

New Delhi, July 12: The rupee on Tuesday opened at a historic low, down 13 paise to 79.58 against US dollar in early trade as strong American currency overseas and losses in domestic equities weighed on investor sentiments.

Besides, persistent foreign fund outflows and elevated crude oil prices kept the pressure on the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened lower at 79.55 against the American dollar and slipped further to quote at 79.58, a decline of 13 paise over its last close.

In initial trade, the local currency witnessed a high of 79.55 and a low of 79.62 against the US dollar.

In the previous session, the rupee had closed at an all-time low of 79.45 against the greenback.

On the domestic equity front, the 30-share Sensex was trading 259.08 points or 0.48 per cent lower at 54,136.15, while the broader NSE Nifty slipped 83.25 points or 0.51 per cent to 16,132.75.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.27 per cent to 108.31.

Global oil benchmark Brent crude futures declined 1.48 per cent to USD 105.52 per barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 170.51 crore, as per exchange data.

The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupee in view of the increasing interest of the global trading community in the domestic currency. 

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News Network
August 6,2022

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Gaza City, Aug 6: Israel hit Gaza with deadly air strikes on Saturday and a Palestinian group retaliated with a barrage of rocket fire, in the territory's worst escalation of violence since a war last year.

Israel has said it was forced to launch a "pre-emptive" operation against Islamic Jihad, insisting the group was planning an imminent attack following days of tensions along the Gaza border.

Health authorities in Gaza, a Palestinian enclave controlled by the Islamist group Hamas, said a five-year-old girl was among 12 people killed by the Israeli bombardment. More than 80 others have been wounded.

The Israeli military warned Saturday it was "preparing for the operation to last a week," while the sole power station in Gaza ground to a halt due to a lack of fuel after Israel closed border crossings.

Israel and Islamic Jihad have both confirmed the killing of Taysir al-Jabari, a key leader of Islamic Jihad, in a Friday strike on a building in the west of Gaza city.

Islamic Jihad is aligned with Hamas, but often acts independently. It said the initial Israeli bombardment amounted to a "declaration of war" and unleashed a barrage of rockets towards Israel.

Sources within the group ruled out a ceasefire soon, with one saying: "for the movement the focus is on the battlefield," while an Israeli military spokesman told AFP that the army is "not currently holding ceasefire negotiations".

The rocket fire and Israeli strikes were continuing on Saturday, risking a repeat of an 11-day conflict in May 2021 that devastated Gaza and forced countless Israelis to rush to bomb shelters.

Daily life in the Palestinian enclave has come to a standstill, with streets largely deserted and most shops closed.

Israel's closure of a key goods crossing four days ago resulted in Gaza's power plant shutting down on Saturday, due to a "fuel shortage," a spokesman for the enclave's electricity distributor said.

Diesel for the plant is usually trucked in from Egypt or Israel, which closed its two border crossings with Gaza on Tuesday citing security concerns.

"Israel isn't interested in a wider conflict in Gaza, but will not shy away from one either," Prime Minister Yair Lapid said in a nationally televised address on Friday.

Air raid sirens sounded across southern Israel on Saturday, but there were no immediate reports of casualties or major damage.

Officials in border areas urged people to stay close to shelters, which have also been opened in the coastal city of Tel Aviv.

Hamas has fought four wars with Israel since seizing control of Gaza in 2007, including the conflict last May.

Both Hamas and Islamic Jihad are considered terrorist organisations by much of the West.

A flare up with Islamic Jihad came in 2019, following Israel's killing of Baha Abu al-Ata, Jabari's predecessor. Hamas did not join the fray in that episode.

Hamas's moves now could prove crucial, with the group facing pressure from some to restore calm in order to improve economic conditions in Gaza.

Mohammed Abu Salameh, the director of Shifa, Gaza City's main hospital, said medics are facing "acute shortages of medical supplies".

On Friday, the health ministry reported "a five-year-old girl, targeted by the Israeli occupation" was among those killed.

The girl, Alaa Kaddum, had a pink bow in her hair and a wound on her forehead, as her body was carried by her father at her funeral.

Israeli military spokesman Richard Hecht said Friday "we are assuming about 15 killed in action" in Gaza, referring to Palestinian combatants.

Israeli tanks were lined up along the border, after the military said Thursday it was reinforcing its troops.

The measures followed the arrest in the occupied West Bank of two senior members of Islamic Jihad, including Bassem al-Saadi, who Israel accuses of orchestrating recent attacks.

Israel on Saturday broadened its operation against Islamic Jihad, announcing the arrest of 19 people it said were members of the group in the occupied West Bank.

Israel has conducted a near relentless wave of often deadly raids inside the West Bank since mid-March in response to lethal attacks on Israeli citizens.

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News Network
August 6,2022

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Mangaluru, Aug 6: In memory of Mohammed Fazil, 23, who was hacked to death in Surathkal on July 28 by communal hatemongers, the Blood Helpline Karnataka (BHK) will be organising four blood donation camps on August 7 in the Dakshina Kannada.

The blood donation camps will be organised at Puttur, Ullal, Ammunje and Ulaibettu. The BHK aims to collect more than 500 units of blood through the four camps to be held in the district.

According to Ifaz Bannur, administrator of BHK, Mohammed Fazil was also a member of the organisation. “He was our member and he had donated blood 14 times during his life. In addition, he was also helping the forum to organise blood donation camps in various parts of Surathkal and other surrounding areas,” he said.

About BHK

BHK was launched on August 8, 2016 by a group of friends through a WhatsApp group with the theme ‘Let us become blood relatives’, to reach out to people in case there was a requirement for blood.

BHK was officially registered in 2017. Now, there are over 50 administrations functioning through 45 WhatsApp groups with over 5,000 volunteers.

The 50 administrations are 50 working members, who engage in organising blood donation camps in various parts of the district and also outside the district.

In addition, the forum has a wide-member base of more than 7,000 volunteers on Facebook.

Over the past six years, BHK has organised 203 blood donation camps in Mangaluru, Sullia, Puttur, Belthangady, Moodbidri, Udupi, Chikkamagaluru, Manipal, Madikeri, Raichur, Kalaburagi, Mysuru, Vijayapura, Shivamogga, Hassan, and Bengaluru and has collected 11,612 units of blood so far.

Along with blood donation camps, the forum has 2,383 volunteers who directly visit the hospitals in case of emergencies to donate blood. During the Covid-19 pandemic, as many as 672 volunteers donated blood to the blood banks in the district, said Ifaz.

In fact, Fazil’s father Ummar Farooq, in his complaint to the police, had also informed how his son was living in harmony with all people in the region and had even donated blood several times in the past to save lives, irrespective of caste and religion. 

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News Network
August 16,2022

Udupi, Aug 16: Security has been heightened in Udupi in the wake of communal tension prevailing in neighbouring Shivamogga district over objections by Popular Front of India against portraits of VD Savarkar put up in that city.

The police have deployed a tight security cover near the Brahmagiri circle in Udupi city where a banner of Savarkar has been displayed as part of the 75th anniversary of independence.

The banner depicted Hindu Rashtra' with Savarkar and Netaji Subhas Chandra Bose being described as revolutionaries, who earned freedom for India.

PFI had given a memorandum to police to remove the banner from the circle. Udupi city municipal council had given permission to display the banner for three days as part of the Independence Day celebrations.

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