CENTRE SOUNDS COVID ALERT: UPTICK LIKELY IN JANUARY

With China and East Asian countries reporting an increase in Covid-19 cases, Health ministry sources said Wednesday that India might see a surge in cases in January, citing patterns observed during previous waves. Officials, however, said an increase in hospitalisation and deaths is unlikely.

“We have seen during the three previous waves that any surge reported in East Asian countries hits Europe in about 10 days, the Americas in another 10 days, and the Pacific island countries in another 10 days. The surge reaches India in 30 to 35 days. So, it is crucial that people stay cautious during the month of January,” Health ministry officials said.

Covid-19 cases in the country continue to be low – 188 new cases were reported over the previous 24 hours – even as a global increase has been noted over the last six weeks.

The govt re-introduced random sampling of international travellers December 24 onward, with nearly 6,000 passengers tested over the last three days. Of these, 39 were found to be positive, according to officials. The govt, however, isn’t looking to ban travel or enforce any mask mandate.

“There is a need to be cautious and be prepared, but there is no need to stop travel from any country. Implementation of Air Suvidha (the online portal of the govt where travellers have to submit travel details and a negative RT-PCR test conducted at the boarding port within 72 hours of travel) is being considered from six countries – China, Japan, South Korea, Thailand, Singapore and Hong Kong – next week onward… Masks will also not be made mandatory, but we will urge people to wear it rather than fine them,” a senior official said.

The ICMR has isolated the Omicron sub-variant BF.7, which is reportedly behind the surge in China, and will test the efficacy of the vaccines against it.

DISMANTLE ECOSYSTEM THAT ABETS TERROR CAMPAIGNS: AMIT SHAH TO OFFICIALS

Union Home Minister Amit Shah today chaired a review meeting to discuss security and development challenges in Jammu and Kashmir with senior officials of the Ministry of Home Affairs (MHA) and the Union Territory administration.

Officials in the MHA said the Home Minister reviewed the prevailing security situation in J&K and steps taken to deal with Pakistan-backed terrorists and maintain peace in the UT. The development initiatives undertaken in the UT also figured during the discussions, they added. Shah, while stressing the need to follow the policy of zero tolerance against terrorism, asked officials to completely dismantle the terror ecosystem, comprising elements that aid, abet and sustain the terrorist-separatist campaign to the detriment of the well-being of the common man.

The meeting was attended by Jammu and Kashmir Lieutenant Governor Manoj Sinha, Union Home Secretary, Intelligence Bureau Director, RAW chief and other senior officials of the central govt and the UT administration.

There have been sporadic incidents of violence in Jammu and Kashmir in recent months, including attacks on civilians and security personnel, and infiltration bids from across the border, the officials added.

IT WAS CONGRESS THAT ENSURED DEMOCRACY THRIVED, SAYS KHARGE ON PARTY’S ANIVERSARY

Congress president Mallikarjun Kharge on Wednesday said that India’s neighbouring countries attained independence at the same time as India’s, but many of these nations later turned to dictatorship, while India clung to democracy.

“Within a few decades of Independence, India became an economic, nuclear and strategic superpower, possessing advanced missiles,” Kharge said while addressing party leaders and workers on the 138th foundation day of the Congress at the AICC headquarters.

He added India figured among the top countries in the fields of agriculture, education, medicine, information technology and service sector.

Kharge said the success story scripted by India would not have been possible if the Congress govts that ran the country during the early decades after Independence did not demonstrate faith in democracy and did not follow an ideology of harmonious coexistence and reposed faith in science and knowledge. “The Congress backed a Constitution that did not discriminate against citizens,” the Congress president said.

INTERNATIONAL AFFAIRS

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CHINA COVID SURGE PROMPTS ENTRY CURBS ACROS STHE GLOBE

Nations across the globe are implementing or considering measures to test or restrict travellers from China as the country has abandoned its ‘Zero Covid’ policy and prepares to reopen borders in January . Starting January 8, China will drop its strict quarantine requirements for travellers arriving from abroad and lift rules that had limited the number of incoming flights and passengers. It will start processing Chinese passport applications and permits to go to Hong Kong and make it easier for foreigners to get visas for business, study and family reunions.

Despite the lucrative prospect of Chinese tourists, some countries are nervous about the potential flood of arrivals.

Italy health ministry on Wednesday ordered Covid-19 antigen swabs and virus sequencing for all travellers coming from China. Italy, which was the first nation in Europe to be hit hard by the virus in February 2020 after it emerged in China, is now the first to impose mandatory tests on people arriving from the Asian country.

Japan said it would limitthe number and destination of flights from China and require those who recently travelled to the country to be tested on arrival, and sent to a weeklong quarantine if positive.

The US govt is considering taking similar measures on travellers from China amid questions about the transparency of data China is reporting about the spread of the virus, according to American officials.

Malaysia has also imposed new tracking and surveillance measures.

India is also mulling testing all those arriving from China.

Philippine transport secretary Jaime Bautista called for Covid measures on Wednesday, including testing on inbound travellers from China.

UKRAINE-RUSSIA PEACE TALKS A FAR CRY

As the battle for Ukraine turns into a bloody, mile-by-mile fight in numbing cold, Ukrainian and Russian officials have insisted that they are willing to discuss making peace. But it is increasingly clear that both sides’ demands even to start talks are flatly unacceptable to the other, leading US and European officials to conclude that serious discussions on ending the war are unlikely in the near future. There have been no peace talks between Ukraine and Russia since the early weeks of the conflict.

This week, Ukraine’s foreign minister, Dmytro Kuleba, detailed a proposal for a “peace” summit by the end of February but told Associated Press that Kyiv would negotiate with Moscow only if Russia first faced a war-crimes tribunal.

Kremlin spokesman Dmitry Peskov said Wednesday that “there cannot be a peace plan for Ukraine that does not take into account today’s realities with Russian territory,” including the four annexed regions, according to the Interfax news agency.

The hard-line positions suggest that both sides believe they have more to gain militarily. Ukraine holds the battlefield momentum, having retaken much of the land that Russia captured early in the war, although Moscow’s forces still occupy large chunks of the east and south. And Russia is pressing its own advantage, readying more troops and launching aerial attacks on infrastructure.

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UP PANEL TO FIX OBC QUOTA FOR URBAN LOCAL BODY POLLS

A day after the Lucknow Bench of the Allahabad High Court quashed UP Govt’s draft notification on urban local body elections, directing that these be held without OBC reservation, the Uttar Pradesh Govt on Wednesday appointed a five-member commission to prescribe OBC quota for the polls.

The HC order yesterday came on petitions challenging the OBC reservation draft and argued that the notification did not meet the ‘triple test’ formula prescribed by the Supreme Court in the matter.

Chief Minister Yogi Adityanath had yesterday said urban local body polls would not be held without OBC reservation. “We will constitute a commission to prescribe OBC quota based on the triple test,” he had declared.

The said triple test involves:

(1) setting up a dedicated Commission to conduct a contemporaneous rigorous empirical inquiry into the nature and implications of the backwardness qua local bodies, within the State;

(2) specifying the proportion of reservation required to be provisioned local body-wise in light of recommendations of the Commission, so as not to fall foul of overbreadth; and

(3) not exceeding an aggregate of 50 percent of the total seats reserved in favour of SCs/STs/OBCs taken together.

EIGHTH MLA LEAVES TRIPURA BJP-LED COALITION

Accompanied by Congress leaders, senior leader and BJP MLA Diba Chandra Hrangkhawl became the eighth legislator of the ruling coalition in Tripura to resign from the Assembly on Wednesday.

The 67-year-old Hrangkhawl is a four-term MLA from Karamcherra seat in Dhalai district, elected three times on the Congress ticket before moving to the BJP ahead of the 2018 Assembly elections. Speaking to reporters, Hrangkhawl attributed his resignation to “personal affairs”.

Of the eight MLAs of the coalition to quit in the past two years now, as many as five belonged to the BJP.

7 DIE IN STAMPEDE AT CHANDRABABU NAIDU’S PUBLIC MEETING IN NELLORE

Seven people died and several others were injured in a stampede at a public meeting of the Telugu Desam Party (TDP) at Kandukur, in Andhra Pradesh’s Nellore district, on Wednesday evening. The incident took place soon after TDP president N Chandrababu Naidu arrived to address the meeting.

According to police, thousands of TDP workers and supporters had gathered at the venue, and there was some jostling soon as Naidu arrived to address the massive public meeting. In the melee, some people jumped into a drainage canal nearby to save themselves, but as more people jumped on them to escape what was escalating into a stampede-like situation, at least seven persons died, police said.

Naidu cancelled the meeting and the roadshow and visited the local hospital to express solidarity with families of the victims. He announced Rs 10 lakh ex-gratia for families of each victim.

FAST-TRACK COURTS REMAINED 'FAST' IN NAME ONLY, SAYS PARLIAMENTARY PANEL

Noting that about 1.84 lakh cases are presently pending in Fast Track Special Courts (FTSCs) which took one to 10 years for their disposal, a Parliamentary panel has said that these courts remained ‘fast’ in namesake only.

“Lack of judges, rigorous procedures and frequent adjournments are some of the main reasons for dysfunctionality of the fast-track courts,” the department-related Standing Committee on Law and Personnel said in a report tabled in Parliament earlier this month.

“FTSCs were meant to bring down substantially the pendency of cases related to heinous crimes like rape and POCSO Act at the district and subordinate court levels. However after assessing the performance of these courts in the past two decades the Committee observes that these courts remained ‘Fast’ in namesake only,” the report said.

NOW, AN INDIAN SYRUP LINKED TO DEATHS OF 18 KIDS IN UZBEKISTAN

Uzbekistan’s Ministry of Health said Wednesday that at least 18 children have died in Samarkand after allegedly consuming an India-manufactured syrup, Doc-1 Max prepared by Noida-based Marion Biotech.

In a statement, the Uzbekistan ministry said laboratory tests of the preparation found presence of the contaminant ethylene glycol. It also said the medicine was consumed without prescription and in a higher dose by the children affected.

According to the statement, preliminary laboratory studies indicate the presence of ethylene glycol in a particular batch of the syrup. The statement said the substance is toxic and consuming 1-2ml/kg of 95% concentrated solution can cause vomiting, fainting, convulsions, cardiovascular problems and acute kidney failure.

The contaminant ethylene glycol – along with di-ethylene glycol – is the same as the one found in four India-manufactured syrups that have been linked to the deaths of 70 children in The Gambia earlier this year.

With paracetamol being one of the active ingredients in Doc-1 Max, the Uzbekistan ministry statement said it was incorrectly used by parents as an anti-cold remedy on the recommendation of local pharmacies. It said the children had taken the medicine for 2 to 7 days, in doses of 2.5 to 5 ml, three to four times a day, before hospital admission, which exceeded the standard dose for children.

DATA OF 30 MN RAILWAY USERS COMPROMISED, PERSONAL DETAILS ON DARK WEB

In what could be the biggest data breach of a govt entity's digital assets till date, the personal details of nearly 30 million railway users have been put on sale on the dark web by a hacker. These details include name, email, phone number, gender, and other personal information of several govt officials and notable personalities, among others, the hacker has claimed.

The hacker refused to disclose the name of the company whose servers were breached, but said it is one of the biggest railways databases in India. Meanwhile, the ministry of railways has confirmed the hack, adding that it had alerted the Indian Computer Emergency Response Team (CERT-in) about the possible data breach.

Moreover, the ministry claims that the data is not from the servers of its own ticketing arm, Indian Railway Catering and Tourism Corporation (IRCTC).

The severity of the breach has brought the govt on its heels, which has immediately put IRCTC's private ticketing partners on the radar. “Further Investigation on the data breach is being done by IRCTC.

FPIs PULL OUT RS 1.34 LAKH CR IN 2022 IN A HIGHEST-EVER YEARLY OUTFLOW

Foreign portfolio investors (FPIs) have pulled out Rs 1.22 trillion ($16.58 billion) from the Indian stock market so far this year and are on course to hit the highest-ever outflows in a calendar year.

FPIs have turned net sellers in 2022 after being net buyers in the last three years. A combination of factors such as interest rate hikes by major central banks, weakness in the rupee, fears of global recession, and a spike in commodity prices have led to continuous pullout by overseas investors from domestic stocks.

But despite the heavy FPI selling, the Sensex has managed a YTD gain of 4.8 per cent on the back of strong domestic flows.

“CY22 was marked with resilient flows into Indian equities by domestic mutual funds (DMFs) despite heavy outflows from FIIs. However, even with our conservative estimates, just provident funds, pension funds, insurance funds, and SIPs could contribute at least $20 billion into Indian equities in CY23,” Amish Shah, head of India research, BoFA Securities, noted in its India Year Ahead 2023 report.

Domestic Institutional Investors now own a record 15 per cent of the BSE-500 shares, just 3.3 percentage points below the share of FPIs, which has now declined to nine-year lows.

INDIA'S BILLIONAIRE CLUB SHRINKS TO 120, GAUTAM ADANI TOPS RICH LIST

The year 2022 saw many lose the 'billionaire' tag, though some of the richest Indian promoters have become even richer.

The number of dollar-billionaire promoters in India (those with a net worth of $1 billion, or around Rs 8,241 crore) has fallen to 120 from an all-time high of 142 at the end of 2021. Also, the billionaire promoters’ combined wealth is down 8.8 per cent to around $685 billion (Rs 56.5 trillion) from $751.6 billion (Rs 56.62 trillion) a year ago. The fall in rupee terms is not significant due to its depreciation versus the US dollar.

A stark outperformer in the rich list is Gautam Adani, who has toppled Mukesh Ambani, chairman and managing director of Reliance Industries, to become India’s richest person in the calendar year 2022. Adani’s net worth stands at $135.7 billion, up 69.6 per cent from $80 billion at the end of 2021. According to the Bloomberg data, Adani is the richest person in Asia and third-richest in the world.

In comparison, Ambani, who topped the list last year, has seen a 2.5 per cent decline in his family’s net worth to $101.75 billion from $104.4 billion a year ago.

Adani yesterday said the growth of his business empire could not be linked to any one political leader, refuting charges of benefitting from his ties with Prime Minister Narendra Modi. The Adani Group's journey began more than three decades ago when the Congress's Rajiv Gandhi was Prime Minister, he said.

"Prime Minister Modi and I are from the same state. That makes me the easy target of such baseless allegations... It is unfortunate that such narratives are being pushed against me," he said in an interview with India Today. "These allegations suffer from recency bias, seeing our group's success through a short-term lens. The fact of the matter is that my professional success is not because of any individual leader but because of the policy and institutional reforms initiated by several leaders and govts during a long period of over three decades," Mr Adani said.

GRANDMASTER GUKESH: NEW POSTER BOY FOR INDIAN CHESS

Eight wins in a row at the Chess Olympiad made Gukesh the new poster boy for Indian chess. After becoming the youngest Indian and then-second-youngest Grandmaster ever in 2019, Gukesh has been in exceptional form.

Dommaraju Gukesh has already experienced quite a few highs and lows. He became India’s youngest Grandmaster but missed becoming the world’s youngest GM by just 17 days. He won gold at the Chess Olympiad this year and was on an 8/8 streak before throwing away a crucial game. And he’s just 16.

Ever since becoming a GM in 2019, Gukesh has sent shockwaves around the world with his performances, including becoming the youngest person to beat five-time world champion, Magnus Carlsen.

INDICATORS

Sensex 60,910 (-17), Nifty 18,122 (-10), Trading Value NSE (Rs.crores) 43,260

Nasdaq 10,213 (-140) Dow 32,875 (-366), S&P 3,783 (-46)

(US$-Rs. 82.80 GBP-Rs. 99.68, Euro-Rs. 88.05, UAE Dhm-Rs. 22.54, Can$-Rs. 61.11, Aus$- Rs. 55.93

GBP 0.83 /US$, Euro 0.94 /US$, Jap.Yen 134.02 /US$, Aus$ 1.47 /US$, Sing 1.34 /US$, Bang Taka 103.68 /US$, Can$ 1.35 /US$, Mal Ring 4.42 /US$,

Pak Re 225.97 /US$, Phil Peso 56.04 /US$, Russian Rouble 71.55 /US$, NZ$ 1.58 /US$, Thai Baht 34.68 /US$, Ukraine Hryvnia 36.69 /US$)

Bitcoin - USD 16,549

Dollar Index 104.04 Brent Crude 82.84 BDI 1,515

Gold world Spot Price USD/aoz 1,806 India (Rs. per gm 24k/22k) 5,471 / 5,015, Silver (Rs. Per KG) 74,600

THOUGHT FOR THE DAY

To love what you do and feel that it matters, how could anything be more fun? - Katharine Graham

OFF TRACK

At breakfast time, a young cadet was spreading butter on toast, and part of his dirty boilersuit was dragging across it.

"Hey," ventured his mate, "your sleeve is on the butter."

"No problem," said the cadet. "I need to wash it anyway."