US dollar index slackens ahead of PPI data
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News18
40 minutes ago
- News18
Outsourcing is against social justice, Marxist party tells DMK government
Chennai, Aug 11 (PTI) The CPI (M), a key ally of Tamil Nadu's ruling DMK, on Monday said the concept of outsourcing went against social justice and urged the state government to abandon it and treat vacancies under state services as openings for permanent jobs and recruit personnel through the public service commission. Referring to the protest here by conservancy workers for over 10 days opposing privatisation of sanitation operations by Chennai Corporation, 'Theekathir,' the official organ of the CPI(M) said in an editorial that the party's Tamil Nadu State Secretary, P Shanmugam has met the workers and has extended support to them. Usurping the rights of workers in the name of privatisation, consolidated pay and so on –as regards government job opportunities in Tamil Nadu– cannot be accepted, Shanmugam has said. The workers, seeking permanent jobs, oppose outsourcing mooted in areas including Tondiarpet in Chennai. They continue to protest in front of Ripon Buildings, the headquarters of the Chennai Corporation. The parties, including CPI(M) have strongly supported the conservancy workers who oppose privatisation. 'In Madurai Corporation too, conservancy work has been handed over to a private firm," the Marxist party's Tamil mouthpiece said, adding several protests have been staged opposing the private company that has been exploiting the workers. Private companies taking up work, including conservancy operations, pay a pittance to workers, who are not covered under statutory and social welfare schemes. Outsourcing of permanent jobs in state services is on the rise gradually and in particular, outsourcing of job openings in the health department is increasing. Also, arrangements such as consolidated pay, honorarium and work under an outsourced agency are against social justice as no system of reservation is followed. Hence, the Tamil Nadu government must completely give up outsourcing and must recruit personnel for permanent jobs under state services through the Tamil Nadu Public Service Commission and this is necessary. 'This is not only an issue related to employment opportunities but also related to the future of the society." It cannot be said that those appointed by private firms to whom jobs are outsourced would have job security and responsibility for their work. Also, they may not have to own up responsibility for lapses, and this may lead to irregularities, it added. PTI VGN VGN ADB view comments First Published: August 11, 2025, 12:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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First Post
an hour ago
- First Post
With hopes of Trump-Putin deal in Alaska summit, oil prices see highest drop in months
Amid expectations that US President Donald Trump could reach a deal with Russian leader Vladimir Putin about the war in Ukraine in the upcoming summit in Alaska, crude oil prices have fallen to a two-month low, registering a 4% weekly drop. read more Crude oil prices have fallen to a two-month low, registering a 4 per cent weekly drop, amid expectations that Presidents Donald Trump and Vladimir Putin could reach a deal regarding the war in Ukraine in their upcoming summit in Alaska. Trump will meet Putin on Friday in Alaska and the war in Ukraine will top the agenda. Ahead of the meeting, reports have emerged that Trump has drafted proposals that could hand over the control of eastern Ukraine to Russia. Formally, he has said that there will be a land swap as part of the end of the war. STORY CONTINUES BELOW THIS AD Even as Ukrainian President Volodymyr Zelenskyy has rejected any surrender of territory to Russia, traders appear to be hopeful that some deal would be reached that would improve the global oil supply and ease prices. Brent traded near $66 a barrel after falling 4.4 per cent last week and West Texas Intermediate was above $63, according to Bloomberg. However, that could fall further if Trump and Putin reach a deal about a war in Ukraine that leads to the lifting of sanctions on Russian oil. Crafting an agreement is going to be extremely difficult, but assuming the situation gets resolves, the path for Brent is down below $65 with risks we may see prices below $60 late in the fourth quarter of the year, Robert Rennie, the head of commodity and carbon research at Westpac Banking Corp, told Bloomberg. How could Trump-Putin deal affect oil prices? In case Trump and Putin reach a deal that would lift sanctions on Russian oil, global supply would increase that would ease prices. Separately, oil-producing cartel OPEC+ is also expected to raise production, reversing previous cuts in output that had reduced the global supply and raised prices. Any increase in production, along with any increase in the supply of Russian oil, are bound to ease prices. Moreover, Trump's tariffs have threatened to slow economic growth the world over, particularly in India on which he has slapped 50 per cent tariffs. Slower economic growth would mean reduced demand for oil, which would further work towards reducing prices. However, if Trump's efforts to reach a deal falter and the war drags on, 'the market could quickly pivot to a bullish stance, potentially triggering a sharp rally in oil prices', Sugandha Sachdeva, the founder of SS WealthStreet, told Reuters. STORY CONTINUES BELOW THIS AD 'The near-term direction will hinge on several key events, including the August 15 meeting between the US and Russian presidents, upcoming speeches from Federal Reserve officials, and the release of the US CPI data,' said Sachdeva.
Business Standard
an hour ago
- Business Standard
Epic Energy consolidated net profit declines 53.33% in the June 2025 quarter
Sales rise 68.25% to Rs 1.06 croreNet profit of Epic Energy declined 53.33% to Rs 0.07 crore in the quarter ended June 2025 as against Rs 0.15 crore during the previous quarter ended June 2024. Sales rose 68.25% to Rs 1.06 crore in the quarter ended June 2025 as against Rs 0.63 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 68 OPM %8.4928.57 -PBDT0.080.18 -56 PBT0.060.14 -57 NP0.070.15 -53 Powered by Capital Market - Live News
