Bridge under construction collapses in Koyilandy
Residents who rushed to the spot staged a protest against the Malappuram-based contracting firm P.M.R. Constructions and demanded a comprehensive investigation into the incident. They alleged laxity on the part of Public Works department officials in checking the quality and quantity of materials used in the construction.
Senior Revenue and Public Works department officials, along with local administrators, reached the spot for field-level inspections. They said an investigation was under way on the instructions of Public Works Minister P.A. Mohamed Riyas, and the report would be available soon.
The government had sanctioned ₹23.82 crore for constructing the 265-metre-long bridge across the Akalappuzha at Thorayi Kadavu. Work on the multi-crore project began in August 2023. The bridge is expected to connect the Balussery and Koyilandy Assembly constituencies, offering a major advantage to residents. Villagers from Atholi and Chemanchery grama panchayats, who currently depend on boat services to cross the river, had been eagerly awaiting the speedy completion of the project.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
8 minutes ago
- Mint
Why is UnitedHealth stock in focus today? Warren Buffet's Berkshire Hathway makes a significant announcement...
Berkshire Hathaway revealed four new investments Thursday in steelmaker Nucor, insurer UnitedHealth and two of the nation's biggest homebuilders — Lennar and DR Horton — but it's not clear if the investments are big enough to ensure that legendary investor Warren Buffett handled them. Buffett, who plans to retire as CEO at the end of the year after six decades of building Berkshire, handles all of the conglomerate's biggest investments worth $1 billion or more. Three of the new investments disclosed Thursday in a filing with the Securities and Exchange Commission are worth less than that, so they could be the ideas of one of Berkshire's two other investment managers. But Berkshire's new UnitedHealth stake that was also revealed Thursday was worth $1.57 billion, so that one could be big enough to be Buffett's handiwork. Berkshire got permission from the SEC to keep the other three investments confidential earlier this year while it built those stakes, but it apparently bought nearly 5 million UnitedHealth shares just in the second quarter. That stock jumped nearly 8% in aftermarket trading. Berkshire's filings simply offer a snapshot of its $258 billion portfolio at the end of the second quarters. Many investors comb through Berkshire's filings every quarter because they like to follow Buffett's moves. His record of trouncing the S&P 500 for decades has inspired legions of followers. The filing doesn't make clear who at Berkshire handled each investment. Besides Buffett, Ted Weschler and Todd Combs also pick stocks, but they generally handle smaller portfolios and Combs also serves as Geico's CEO. But Buffett has had a hard time finding stocks or any other investments in recent years that he wants to invest much of Berkshire's $344 billion cash in. Berkshire's Nucor stake of 6.6 million shares was the biggest new investment worth roughly $857 million at the end of the quarter. Shares of that company rose more than 6% in extended after-hours trading. The Lennar investment was worth nearly $800 million. While the DR Horton stake was much smaller worth $191.5 million. Those companies' stocks also saw gains in late trading Buffett already knows quite a lot about the home building business because Berkshire owns the nation's largest manufactured homebuilder, Clayton Homes. Besides stocks, Berkshire owns dozens of companies in a variety of industries including Geico insurance, BNSF railroad, several major utilities and an assortment of manufacturing and retail companies. The Omaha, Nebraska-based company's holdings include many well-known brands like See's Candy and Dairy Queen.
Hindustan Times
38 minutes ago
- Hindustan Times
ASIA RICE-Vietnam rates rise on Philippine stockpiling; India prices steady
* ASIA RICE-Vietnam rates rise on Philippine stockpiling; India prices steady Philippines will suspend rice imports for 60 days from Sept 1 * Weather conducive for paddy crop, Mumbai-based dealer says * Demand for Thai rice remains quiet, trader says Aug 14 - Vietnamese rice prices rose this week as buyers in the Philippines stockpiled ahead of an import suspension deadline, while Indian rates held steady near a three-year low. Vietnam's 5% broken rice was offered at $395 a metric ton on Thursday, up from $391 a week ago. Traders said buyers from the Philippines are rushing to make purchases before the country suspends rice imports for 60 days starting September 1, as the government seeks to protect local farmers affected by falling prices during the harvest season. Traders also said that Vietnam's domestic supplies were running low as the summer-autumn harvest ends. India's 5% broken parboiled variety was quoted at $369 to $374 a ton, unchanged from the previous week when it hit its lowest level since August 2022, while Indian 5% broken white rice was priced at $360 to $368 a ton this week. "The weather is largely conducive for paddy crop, this year's production is expected to be even higher than last year's record harvest," said a Mumbai-based dealer. Thailand's 5% broken rice tumbled to $355 to $360 a ton, down from last week's price of $370 on weakening demand, traders said. Domestic and overseas demand has been very quiet, with buyers anticipating increased supply in the market, which could drive prices even lower, another Thai trader said. Meanwhile in Bangladesh, prices continue to remain high despite renewed imports and record harvests since November last year, which pushed reserves to nearly 2 million tons by July. Data from the Trading Corporation of Bangladesh showed prices remained 15 to 20% higher compared with the previous year. This article was generated from an automated news agency feed without modifications to text.
India Today
3 hours ago
- India Today
ED raids 17 locations, seizes Rs 110 crore in Rs 3,000 crore money laundering case
The Enforcement Directorate (ED) conducted raids across 17 locations throughout the country in connection with a money laundering probe. The raids were conducted in Mumbai, Delhi, Noida, Jaipur, Surat, Madurai, Kanpur and Hyderabad as part of an ongoing probe in the case of Cyprus-based illegal online betting platform Parimatch. During the raid, bank accounts with funds totalling to nearly Rs 110 crore were seized by the officials and frozen. Further, various incriminating documents and digital devices have been found and seized during the raids. advertisementThe ED initiated the investigation on the basis of an FIR registered by the Cyber PS, Mumbai against for duping users through online betting platform Parimatch. As per the investigation, the investors were duped of Rs 3,000 crore in a year. During the raids, it was revealed that Parimatch routed users' funds through mule accounts using different strategies across the country. In one case, funds deposited by users into mule accounts were withdrawn in cash in a specific locality in Tamil Nadu. This cash was handed over to hawala operators, who used it to recharge virtual wallets of a UK-based company. These wallets were then used to buy USDT cryptocurrency in the name of mule crypto accounts, which were actually operated by Parimatch agents. In Western India, Parimatch engaged the services of domestic money transfer (DMT) collected in mule accounts and controlled by these DMT agents were sent to PariMatch agents through payments made by mule Credit Cards. A total of more than 1,200 such credit cards were found and seized from a single premise. The ED investigation also uncovered that payment companies whose applications for Payment Aggregator licences were rejected by the RBI, offered their services to Parimatch in the garb of technology service providers (TSPs) and offered their API (Application Programming Interface) to facilitate user fund collections. These TSPs offered the APIs to Parimatch agents who onboarded mule accounts opened in the name of e-commerce companies and payment solution provider companies for collection of funds from users. The money so collected through UPI transfers was layered and transferred out in the garb of e-commerce refunds, chargebacks, vendor payments, etc. effectively concealing the actual flow and purpose of funds. Parimatch gained visibility through aggressive marketing, including sponsorship of sports tournaments and partnerships with well-known celebrities. They also set up Indian entities to run surrogate advertisements under the names 'Parimatch Sports' and 'Parimatch News.' Payments to these agencies were made via foreign inward remittances. Further investigation is under progress.- EndsMust Watch
