Indian Rupee slumps 52 paise to all-time low of 77.42 against US dollar

News Network
May 9, 2022

New Delhi, May 9: The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and unabated foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.

On Friday, the rupee had slumped 55 paise to close at 76.90 against the US dollar.

The Indian rupee opened weaker on Monday against the dollar as weakness in global equities on concerns over economic outlook and rising bond yields weighed on sentiments, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Forex traders said, risk appetite has weakened amid mounting concerns about inflation that may trigger more aggressive rate hikes by the global central banks.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.35 per cent higher at 104.02, tracking rising US yields and fears about higher interest rates.

Moreover, Asian and emerging market peers started weak this Monday morning and will weigh on sentiments.

On the domestic equity market front, the 30-share Sensex was trading 737 points or 1.34 per cent lower at 54,098.58 points, while the broader NSE Nifty declined 220.25 points or 1.34 per cent to 16,191.00 points.

Global oil benchmark Brent crude futures rose 0.14 per cent to USD 112.55 per barrel.

Foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth Rs 5,517.08 crore, as per stock exchange data.

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News Network
April 14,2024

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New Delhi: A 24-year-old student from India was shot dead inside a car in Canada's South Vancouver, the local police have said. The Vancouver Police in a statement said Chirag Antil, 24, was found dead inside a vehicle in the area after neighbours reported hearing gunshots.

"Officers were called to East 55th Avenue and Main Street around 11 pm on April 12 after residents heard the sound of gunshots. Chirag Antil, 24, was found deceased inside a vehicle in the area. No arrests have been made, and the investigation remains ongoing," the police said.

Chirag Antil's brother Ronit told reporters that Chirag seemed happy when they spoke on the phone in morning. Chirag later took out his Audi to go somewhere. That was when he was shot dead.

The Congress students' wing National Students' Union of India chief Varun Choudhary in a post on X tagging the Ministry of External Affairs requested for assistance to the student's family.

"Urgent attention regarding the murder of Chirag Antil, an Indian student in Vancouver, Canada. We urge the Ministry of External Affairs to closely monitor the progress of the investigation and ensure that justice is swiftly served," Mr Choudhary said.

"Additionally, we request the ministry to extend all necessary support and assistance to the family of the deceased during this difficult time," he said.

Chirag Antil's family is raising money through the crowdfunding platform GoFundMe to repatriate his body to India, local media reported.

Haryana resident Romit Antil, the brother of Chirag Antil, told CityNews that he was a kind-hearted person.

"My brother and I had a great relationship. We used to talk every day, day and night. I spoke to him last before the accident happened. He was kind of happy, he never had any issues or fights with anyone, ever. He was an extremely polite person," Romit Antil told CityNews.

Chirag Antil came to Vancouver in September 2022. He just finished MBA at University Canada West, and recently got his work permit.

Here are 5 facts about Chirag Antil

1.    Chirag Antil was a resident of Sonipat, Haryana.
2.    He was the youngest son of Mahavir Antil, a retired employee of the Sugar Mill Department of the Haryana Government.
3.    Chirag moved to Vancouver in 2022 to pursue higher studies at the University Canada West (UCW), in British Columbia.
4.    After completing his MBA, he started working at a company in Canada after getting a work permit.
5.    Chirag's brother Ronit shared in an interview that his younger sibling was a "kind-hearted" person. "I spoke to him last before the accident happened," he said and added that Chirag sounded "happy".

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News Network
April 28,2024

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Bengaluru: JD(S) leader H D Kumaraswamy on Sunday said he would like to wait for the facts to come out of the investigation into an alleged sex scandal involving his nephew and Hassan MP Prajwal Revanna, but asserted that there is no question of forgiving anyone who has committed a crime as per law.

The former chief minister said he has nothing to do with Prajwal Revanna reportedly leaving the country, and it is the responsibility of the Special Investigation Team (SIT) to get him back if required.

The 33-year-old Prajwal Revanna is the son of former prime minister and JD(S) patriarch H D Deve Gowda's elder son H D Revanna, who is an MLA and former minister.

Some explicit video clips allegedly involving Prajwal Revanna had started making the rounds in Hassan in recent days.

Prajwal Revanna is the BJP-JD(S) alliance's candidate from Hassan, which went to polls on Friday.

Kumaraswamy said, "I have noticed that the chief minister has ordered an SIT probe. Whether it is me or Deve Gowda (his father), we have always conducted ourselves respectfully towards women and have responded positively when anyone came with any sufferings. We have tried to address them."

Speaking to reporters here, he said, "The Hassan related issue that started during elections, let the facts come out through a probe. Whoever it is, who has committed the mistake as per the law of the land...there is no question of forgiving anyone who has committed the mistake. So let the facts come out from the probe, after that I will react."

To a question on Prajwal Revanna going to a foreign country, Kumaraswamy said, "It is not related to me. SIT probe has been ordered, officials have been put to work. If he has gone to a foreign country, getting him back is their responsibility. What should I say, if I'm asked. They (SIT) will get him, don't worry."

Chief Minister Siddaramaiah announced the decision to constitute a SIT to probe the alleged sex scandal involving the MP.

Meanwhile, the police have information that Prajwal has left the country, according to a statement issued by the Chief Minister’s office.

"Prajwal Revanna’s explicit video clips are being circulated in Hassan and it appears prime facie that women were sexually assaulted,' the statement said, adding that the government decided to form an SIT based on a petition by the chief of the Karnataka State Commission for Women.

The Commission's chairperson Dr Nagalakshmi Chaudhary on Thursday wrote to Siddaramaiah and state police chief Alok Mohan, seeking a probe into the videos that are in circulation in Hassan.

Prajwal has through his election agent lodged a complaint with the authorities that the videos are "doctored" and being circulated to tarnish his image ahead of elections.

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News Network
April 24,2024

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Pro-Gaza US protesters in New York's Columbia University say they will stay put despite the university's harassment and police crackdown.

The protesters said they refuse to concede to "cowardly threats and blatant intimidation" by university administration, asserting that they will continue to peacefully protest.

Columbia University threatened the students with the national guard after refusing to bargain in good faith.

The university announced a midnight deadline for talks regarding the removal of pro-Palestine encampments on the varsity campus, warning that their campsite will be forcefully cleared by police if no agreement is reached.

The university campus is being used as a campsite for hundreds of pro-Palestine protesters and other activists, who have gathered and set up numerous tents.

Pro-Palestinian protests at colleges have demanded that their universities divest from corporations doing business with Israel or profiting off the war in Gaza. At Columbia, protesters have also asked the university to end a dual-degree program with Tel Aviv University.

The deadline was announced by Columbia University President Minouche Shafik late Tuesday, as authorities across major American universities have launched their repression campaigns against the pro-Palestinian protests on campuses, amid rising anger over US's support for Israel. 

Shafik has issued a midnight deadline to protesters and organizers, warning that failure to comply will result in the forcible clearance of the camp by the New York Police Department (NYPD).

The university has engaged in discussions with student leaders behind the protests, which are part of a series of protests taking place at various colleges nationwide and resulting in multiple arrests.

The purpose of these talks is to address the encampment on the west lawn of Columbia's Morningside Heights campus.

American universities are grappling with the challenge of maintaining a delicate balance between the right to protest and freedom of speech, while also ensuring campus rules and safety, as tensions surrounding the ongoing war in Gaza continue to permeate across campuses.

Meanwhile, Shafik underscored the importance of free speech and the right to demonstrate, but highlighted significant safety issues, disruptions to campus activities, and a strained environment due to the encampment. She firmly stated that any form of intimidation, harassment, or discrimination would not be accepted.

The arrest of more than 100 protesters at Columbia University last week led to more campus demonstrations, at New York University, Yale, and the University of California, Berkeley.

Palestinian university professor Sami al-Arian said what is happening across US university campuses is unprecedented.

Al-Arian said, "I lived four decades in the US, 28 years of which were in academic settings. During my time, it was a very challenging struggle to present an anti-Zionist narrative."

"But the passion, courage, humanity, creativity, and determination displayed these days by students across US campuses make me proud. The Zionist grip on US society is weakening and waning."

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