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Airbags are a standard safety feature in cars. Continental has been manufacturing airbag control units (ACU) for the last 35 years, and in that time, 350 million ACUs have been manufactured at the technology company These ACUs meet the highest standards of crash safety and reliable airbag deployment. The ACU receives signals from so-called pressure satellites, that detect and report the pressure wave of a collision. Continental established the production of these pressure satellites 25 years ago. Since then, the number of airbags in vehicles has constantly increased, saving many lives. Based on its experience, Continental is developing new functions to further optimise the safety of airbags in cars. Continental will monitor pre-crash safety and occupant monitoring system and will network them more closely in the future to adapt the airbag deployment strategy more closely to the situation, the occupants and their position. The company will use signals from connected control units to enable airbags to deploy faster and in a more controlled way. The Soon, this number is likely to increase. The performance of an ACU varies depending on the segment, vehicle and equipment, meaning such ECUs are flexible. Depending on the version, the control units offer basic functions for frontal and rear impact protection through front airbags and belt tensioners up to additional functions for updates over-the-air, cyber security and crash detection even during the charging process of electric vehicles. While other ECUs are transforming into software-based products in the reorganisation of the E\/E architecture with centralisation and a few high-performance computers, this does not apply to the ACU. Jochen Zimmermann, Head of Research Development for Occupant Safety Systems at Continental says, In addition, the requirements for the response time are so high that the required latency times for the transmission between decision-makers and actuators are most effectively realized in a dedicated ACU. For Continental, the highest performance in the area of safety is not negotiable. This is done with the integration of pre-crash data, which is provided by vehicle surroundings sensors and an Occupant Safety Monitor, which is currently being developed. This provides information about the occupants and their positions inside the vehicle. To control the filling level of the airbag depending on the occupant position, an airbag control valve is in development. This new valve can control the gas flow into the airbag in just a few milliseconds, allowing the exhaust openings in the airbag to be smaller, and the airbag stands longer with the airbag control valve. In the future, airbags will be softened exactly at the time of impact, so that the rebound effect for the passenger is reduced.
Industrialist Naveen Jindal-led Jindal Steel Power The company would do so by issuing bonds in one or more tranches to domestic or global investors, it said in a regulatory filing. JSPL would use the funds for its expansion plans and reduction of debt, it had said in analyst presentation earlier this month. JSPL also said it intended to invest more than $2.4 billion in over six years to ramp up capacity. The company plans to raise total crude steel capacity to 15.9 million tonne by March 2025 from 8.6 million tonne as of FY21-end. The capacity expansion would be at the company Further, the New Delhi-based firm would also more-than-double its pellet production capacity to 21 million tonne by 2024. It would expand its production capacity, again at Angul, from the 9 million tonne as of FY21. JSPL is in the process of setting up a 2.25-million tonne plant in Nellore district of Andhra Pradesh to produce hot-rolled coil. The firm would mainly target export markets for HRC, as the plant is situated close to the Krishnapatnam port. JSPL is mulling a foray into container-making from its Angul facility, starting with a manufacturing capacity of 15,000 containers per year. The company expects its total production from all its plants to rise to 50 million tonne by 2025 from the present 9 million tonne, MD VR Sharma had said earlier. NET-DEBT FREE JSPL intends to become a net-debt free firm by 2023 from about Rs 13,000 crore as of FY21. The firm would reduce net debt by about Rs 4,000 crore by the end of the calendar year, repaying mainly from internal accruals.
Key takeaway: Kotaks FY21 annual report highlights that retail profit fell by +60% due to higher credit cost weak topline. Corporate loans shrank, but unlike peers RWA\/asset didnt fall PSU loans fell. Deposit franchise is strong with high CASA share of retail deposits. Stress loans are low bank has buffer prov. of 0.6%, but NPL buffer adjusted for seasoning has moderated. We cut earnings slightly, pick-up in growth clarity on succession key to rerating. Retail profit falls +60% on higher credit cost; Casa franchise is strong: In FY21, Kotak Bank saw a sharp 63% YoY fall in retail profit due to higher credit costs and slower topline growth. Retail and agri NPLs rose 170-200bps YoY and retail loans grew 6% YoY led by secured segments like home loans and autos. Credit card additions were muted at 0.1 mn, one third of additions in FY20. Banks liability franchise has done well with a) CASA ratio rising to 60% of deposits (FY20 56%) and b) share of retail deposits at 63% of total is better than ICICI and Axis. Deposit client additions were healthy, with c.2.9mn debit cards added in FY21 (2.6mn FY20). Concentration of deposits is low with Top-20 depositors bringing only 10% of deposits and ALM is well balanced. Weaker corporate growth; limited de-risking: During FY21, bank consolidated its corporate loan book with 7% decline to 37% of total. We would have expected a tad more derisking from Kotak – but its consolidated RWA\/asset ratio was largely flat at 72%, whereas other large banks have seen 300-500bps YoY decline in FY21. This is despite the rise in share of bank\/ government guaranteed loans like ECLG to 5% of loans. Kotaks share of PSU loans has been marginal and this has dropped sharply. NPLs up, buffer on seasoning adjusted basis moderates: During FY21, slippages rose by 60% YoY and gross NPLs were at 3.3%. NPL coverage was comfortable, but adjusted for seasoning, surplus provision has moderated YoY. The bank has additional provision of 0.6% (of loan book) against stressed loans.
Coronavirus build-up in the lungs might have led to the steep mortality rates during the pandemic, according to a new study. The results, however, contrast with earlier suspicions that simultaneous infections, including bacterial pneumonia or overreaction of the immune defence system, played a major role in the increased risk of death, the NYU Grossman School of Medicine said in a release. The study was led by researchers from the NYU Grossman School of Medicine and has been published in The researchers discovered that people who succumbed to Covid-19 had, on an average, 10 times the virus in their lower airways when compared to severely ill patients who survived. The investigators, however, did not find any evidence to implicate a secondary bacterial infection as the cause of death. The researchers cautioned that this might have been possible due to the frequent antibiotics course administered to critically ill patients. Dr. Imran Sulaiman, the lead author of the study, said their findings suggest the failure of the body to cope with the immense number of virus in the lungs was mainly responsible for deaths caused by Covid-19 during the pandemic. The researchers had designed the study to clarify the role played by viral load, secondary infections, and immune cell populations in Covid-19 mortality. Dr. Sulaiman further said that the investigation provided the most detailed survey yet of the lower airway environment in patients infected by the coronavirus. The researchers collected fungal and bacterial samples from the lungs of 589 women and men hospitalised at NYU Langone. All these patients needed ventilation. The study analysed the amount of virus in the lower airways for a subset of 142 patients who also required bronchoscopy to clear the air passages. The study found that the deceased had, on an average, 50 per cent lower production of an immune chemical that targets the virus when compared with the patients who survived.
India plans to emerge as a global leader in green hydrogen and the country is proposing to mandate using green hydrogen in fertilizer and in refining, power minister R K Singh has told the US Special Presidential Envoy for Climate (SPEC) John Kerry. In a telephonic conversation last evening, Singh also informed Kerry that India will invite bids for green hydrogen in the next 3-4 months to encourage viable usage of hydrogen as a fuel, according to a power ministry statement. India is looking at bids for 4,000 MW of electrolysers capacity, it stated. As per the statement, Kerry has congratulated India on achievements in renewable energy on reaching 146GW Renewables with 63 GW under construction and 25 GW under bids. Union Minister R K Singh has informed Mr Kerry about Indias plan to emerge as a global leader in green hydrogen. India is proposing to mandate using green hydrogen in fertilizer and in refining. This is part of the governments commitment towards replacing grey hydrogen with green hydrogen, the statement said. Singh underlined to the US Presidential envoy that Prime Minister Narendra Modi places the highest importance on the environment. He suggested to him that India and the USA could work together in the areas of innovations for power and technology, pointing out the requirement of bringing down the cost of storage of renewable power. The minister informed Kerry about the recent milestone the country had achieved by crossing 100 GW in Installed solar and wind capacity. If we add Hydro capacity also, the total installed renewable capacity is 147 MW. Further, 63 GW of renewable capacity is under construction which makes India one of the fastest growing in terms of renewable capacity addition, it stated. Singh also informed Kerry that the National Hydrogen Energy Mission has been launched to enable cost competitive green hydrogen production. He added that India would be conducting competitive bids for green hydrogen in the next 3-4 months to pave the road for viable usage of hydrogen as a fuel. The other countries need to come up with more electrolyser plants to bring down the costs. It was suggested that India and the USA should work at setting up an alternate supply chain for lithium in order to secure input material for battery energy storage.
With digital and technological advances, taking loans has never been so easy. A large number of people have been opting for loans to meet various expenses and fund purchases, especially with the pandemic and continuous waves of uncertainty. However, a loan is a liability, which if not handled properly could land the borrower into a huge financial debt. The same goes for a car loan – if not planned properly, the loan EMI (equal monthly instalment) could turn out to be a little too heavy on the pocket of a borrower. Hence, experts say borrowers could take the help of a car loan EMI calculator before opting for a loan. Additionally, one should also do proper research and understand the loan before opting for it. Here is how one can manage a car loan: Planning the budget in advance – To start with, a borrower should weigh out all the necessary expenses and then frame a budget before purchasing a car. Industry experts say, most often people do not factor in secondary expenses that come with owning a car. For instance, unavoidable expenses such as insurance, fuel, repairs, depreciation and maintenance come along with a car. Maintain a healthy credit score – One of the most important criteria for any type of loan. Having a healthy credit score will give an individual access to any loan with much better terms. Making timely payments of credit card due, other loans, etc. are some ways one could have a good credit score. Type of car – Purchasing a car is not a frequent occurrence for most and, hence, naturally, everyone looks for the best deal, ponder on buying the most popular car, one of the pricier cars, etc. However, experts say while buying a car with a loan, instead of ticking all points in their car checklist, a borrower should objectively consider other models options, or an older make and similar performing vehicles, and save a fortune. Large down payment – Try to make a large down payment on the vehicle if possible. Experts say, making a huge down payment while purchasing a car decreases the volume of the principal and the amount of interest also goes down – the lower the principal, the lower the EMI amount would be. Shorter loan tenure – Banks, lenders will always push for a longer tenure for any loan, as they will benefit that way. However, opting for a shorter loan tenure works the best for the borrower ensuring that they save up on the interest costs. With a shorter-duration loan, the faster it is cleared, the lower the interest component the borrower will have to pay. EMI payments – After taking a loan, make sure to pay the EMIs regularly, and on time. This not only keeps the credit score of the borrower maintained but also keeps the relationship with the lender maintained. Experts say one should have a disciplined approach towards any loan, which makes it easier for an individual to get faster credit disbursal in the future.
Asset monetisation is not a new idea Several people in the government, and investors, have long argued that PPPs need not be limited to new-build infrastructure, and that there is significant efficiency improvement potential in the government Over the last decade, several operating asset transactions have been brought to the market, and some have been successfully awarded. The discussion became mainstream in the last five years, as global investors continued to be desperate for cash-flow generating assets, and the government could not make construction risk financeable. Several road-shows have been held to market the investment opportunities in the government The last one was in February 2021, which was addressed by the Prime Minister, and sought feedback from investors and experts. Against this background, the key question in the minds of investors is when will the promised wave of investment opportunities hit the market? A key reason for the long lag between announcements and actions is the resistance from incumbent organisations, which like living beings, have a pathological need to continue to exist and expand. Success of the National Monetisation Pipeline (NMP) will critically depend on the extent to which the Department of Investment and Public Asset Management and the NITI Aayog have been able to convince the relevant PSUs to be invested in the success of the programme. Precedent is an indicator of this, and is a strong argument to address issues that arise during project preparation. So, roads and airports included in the NMP could reach transaction stage fairly quickly. The next set of six airports has been under preparation for some time. Kolkata and Chennai airports have seen stiff internal resistance to privatisation in the past; they would be a test of how much that hurdle has weakened. The sale of the Airports Authority of India Coal mine auctions are under way. Telecom tower business is well established, and the incumbents have become marginal players in the sector now. PPP in terminals in major ports has nearly two decades of history, which could weaken resistance from the unions. This second set includes sectors that have a competitive market, and pricing of output does not need to be regulated. Thus, this is one less area where the incumbents could drag their feet. Similar to ports, renewable energy and hydropower plants will attract high level of investor interest considering they will have PPAs and pre-approved regulated tariffs. Hydropower plants will become more valuable as the proportion of renewable energy increases in the grid. There could be merit in reconsidering to what extent hydropower plants should be retained in a manner so that they can be used by the grid operator. Though sports stadia and urban real estate would also not require price regulation, I have not included these in the second set. In the past, real estate transactions have struggled with issues like clarity on title, encroachment, etc. More importantly, there is often a reluctance to sign off on real estate transactions, considering the wide range of potential valuations. Addressing the real and imagined concerns in probity leads to adding conditions that make the project unattractive to high-quality bidders. The Jawaharlal Nehru Stadium transaction preparation had started some time ago, but has not been brought into the market yet. This transaction could well be the pathfinder for several similar projects. Oil and gas pipelines are owned and operated by strong PSUs. Also, modifying the pricing regime and getting regulatory approvals for it are preconditions to transaction structuring. These could well take significant time to solve. The same would apply to warehouses and silos of the FCI, etc. The Railways has a history of half-hearted attempts at PPPs, which have either not succeeded at the bidding stage (most recently, private train operations), or the investors have run into trouble subsequently (as with private container train operations). It is in the context of the third set that I worry about excessive emphasis on capital-raising as the objective of the asset monetisation programme. Most PSUs will argue that they can raise capital cheaper than the private sector SPVs. This is a valid argument since it is the additional efficiency brought by the private sector that justifies the higher cost of capital. Those who are pushed by the institutional mechanism (core group of secretaries for asset monetisation) will choose the InvIT route. This is under way in power transmission. While InvITs provide cash-flow generating assets to investors, they do not lock-in performance commitments from the investors. Thus, it provides a comfortable via-media to the incumbents and the investors, missing out on the opportunity to improve efficiencies. Going forward, these could also become hurdles in sector-restructuring; the prerequisite to creating competitive markets. In conclusion, the pace of progress on asset monetisation will be determined by incumbent organisations, and their commitment to making these successful. Until the incumbents are fully onboard, investors of long-term patient capital will need to remain patient. The author is an infrastructure specialist and co-founder, AskHowIndia.org
A rare Apple II manual inscribed and signed by Apple founder Steve Jobs has sold at auction for a staggering $7,87,484 (approx. Rs 5.85 crore). The buyer, Jim Irsay, owns the Indianapolis Colts of the NFL. RR Auction based in auction sold the Apple II Reference Manual from 1980 last week. Jobs inscribed and signed the 196-page manual opposite the Former Apple angel investor and the company The manual has technical details regarding the operation and architecture of Apple II. The manual belonged to Julian Brewer. His father Michael had negotiated the company Go change the world! Steven Jobs, 1980, Jobs and Markkula had signed the manual when they were in the UK to promote Apple. RR Auction, in a website note, said: and personal computing as a whole The note said the manual Apple II was the first mass-market computer and turned the struggling company Jobs died in 2011 after suffering for years from cancer. RR Auction also sold some other Jobs-related items, including a signed letter where he had written: Rs 3.56 crore). Isray said in a statement to the auction house following his purchase of the Apple II manual that he considered Jobs among the most innovative minds to live in the past two centuries.
China has gone on the offensive ahead of the release of a US intelligence report on the origins of the coronavirus, bringing out a senior official to accuse the US of politicising the issue by seeking to blame China. Fu Cong, a Foreign Ministry director general, said at a briefing for foreign journalists on Wednesday that scapegoating China cannot whitewash the US. If they want to baselessly accuse China, they better be prepared to accept the counterattack from China, he said. China, the US and the World Health Organisation are entangled in a feud that centres on whether the virus that causes COVID-19 could have leaked from a lab in the city of Wuhan, where the disease was first detected in late 2019. A joint WHO-China report published in late March concluded that a lab leak was extremely unlikely, and China wants the investigation to move on to other possibilities. The most likely scenario, the report said, is that the virus jumped from bats to another animal that then infected humans. But the findings are not conclusive, and WHO Director-General Tedros Adhanom Ghebreyesus said all hypotheses are on the table and warrant complete and further studies. He added in July that there had been a premature push to rule out the lab leak theory. In May, President Joe Biden ordered a 90-day review by intelligence agencies of both theories. White House Press Secretary Jen Psaki said Biden received the report and a classified briefing about it on Tuesday, and that an unclassified summary is being prepared ?expeditiously? for public release. The feud over whether to keep pursuing the lab leak theory has delayed the next phase of research, and the scientists who made up the WHO tea m for the joint report warned Wednesday that the window of opportunity for solving the mystery is closing fast. China has responded to continuing speculation about a leak from the Wuhan Institute of Virology by suggesting the virus could have escaped from Fort Detrick, a US military lab in Maryland. Fu, who heads the Foreign Ministrys Arms Control Department, denied that China is engaging in a disinformation campaign. He said if other parties insist on pursuing the lab leak theory, then the WHO team of researchers should visit Fort Detrick. He portrayed it as a fairness issue, since the WHO has been to the Wuhan institute twice. If Dr Tedros believes that we should not rule out the hypothesis of a lab leak, well, he knows where to go, Fu said. He needs to go to the US labs. China notes that the Fort Detricks infectious disease institute has studied coronaviruses and that it was closed for several months in 2019-20 for safety violations.
The Tamil Nadu government on Friday issued Standard Operating Procedure (SOP) for schools across the state to strictly adhere to when the classes commence from September 1 for ninth to twelfth standards. Permitting the re-opening of schools for 9th, 10th, 11th and 12th standards with effect from September 1 with 50 per cent students at a time by duly following the appropriate SOP, the government directed the school education department to take necessary preparatory action and prescribe appropriate SOP for conducting classes regularly. Schools should function six days a week and classes and sections have to be split into batches of not more than 20 students per classroom, as per the SOP. If no additional rooms are available, then students shall be asked to come to school on a rotational basis on alternate days, it said. Online or distance learning will continue to be an alternate mode of teaching. Students may be permitted to attend online classes if they prefer and those willing to study from home with the consent of the parents may be allowed to do so. However, follow-up on the progress of learning outcomes of all such students shall be planned appropriately. Teachers and students should compulsorily wear face masks both inside and outside the school premises and schools should mandatorily follow the SOP. All teachers and non-teaching staff must get themselves vaccinated. As per the health, hygiene and safety protocols, schools premises, furniture, handrails, doors and windows should be cleaned and disinfected properly prior to re-opening. Hand wash facilities with soap and running water should be made available and in addition hand sanitizers should be provided in all classrooms, the SOP said. Toilets and wash areas should be cleaned, disinfected properly and maintained with cleanliness. Alternate arrangements should be made by the management for contact less attendance for teachers or staff instead of biometric attendance, during the pandemic. Helpline numbers, including those of local health authorities and mobile teams to contact in case of emergency, should be displayed. School premises should be kept clean and tidy and social distancing norms should be strictly followed to avoid crowding at the entrance, exit and inside the school, it stated.