Latest news with #Baig
Yahoo
22-05-2025
- Business
- Yahoo
'Big gains to be had' if Canada's pension fund giants invested more at home: Desjardins
Even a small shift in Canada's enormous pension funds' investment focus towards domestic assets could lead to 'big gains' in the domestic market, a new report from Desjardins Economic Studies says. Most of the funds' roughly $3.6 trillion in investments are currently in foreign assets, Desjardins foreign exchange strategist Mirza Shaheryar Baig writes, but there is an appetite for change both within government and the institutions. 'Due to their large size relative to the domestic market, any shift in their asset allocation or currency hedge ratios can have a significant impact on financial markets, and current market dynamics suggest that there is some scope for change.' Of that $3.6 trillion — an amount that easily exceeds the total value of Canadian mutual funds and ETFs combined — around $1 trillion is managed by the Canada Public Pension Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec (CDPQ), Baig says, while the rest is with 'various employer‑based or trusteed pension plans' such as the Ontario Teachers' Pension Plan. The funds take in money from their investments and worker contributions, but also pay out benefits. Whatever remains needs to be invested, Baig says. That amount is typically very large and typically invested outside the country. In 2024 it was around $105 billion, the Desjardins report says, with $31 billion from excess contributions, and $74 billion from investment income . The funds will likely need to spend a similar amount this year. An emerging movement to encourage the funds to invest more in Canada may be gathering force. Desjardins notes that several small measures in the federal government's Fall Economic Statement were designed to encourage more domestic pension investment, and since then the 'buy Canadian' movement spurred by trade tensions with the U.S. has brought the funds' investing might into even sharper focus. This week, the head of the CPPIB said in an interview with The Canadian Press the fund was 'excited' about investing in potential large-scale infrastructure projects championed by the newly-elected prime minister, Mark Carney. Overall, good macroeconomic policies and an investment-friendly environment could achieve the best of both Shaheryar Baig, Desjardins Economic Studies The government would need to build on the 'tweaks' in the Fall Economic Statement to improve the investment landscape for the funds, Baig writes, but doing so could result in a 'win-win' situation. 'Canada will need to expand investment in infrastructure in the coming years, and these projects could be well suited to the funds' long‑term investment objectives,' Baig says. 'Moreover, deepening capital markets and encouraging more corporate listings in Canada would help too. Overall, good macroeconomic policies and an investment-friendly environment could achieve the best of both worlds.' The report notes that even a one per cent shift by the social security funds out of international assets would leave them with around $10 billion to invest in Canada. A similar move by the trusteed pension funds would yield $24 billion. Another area where the funds' clout could have impact is foreign exchange and the loonie, the report says. Most of the funds' U.S. dollar-valued investments are unhedged given the long-held reputation of that currency as a safe haven, with an expectation that the U.S. dollar would appreciate against the loonie during volatile markets. 'However, this belief is now being openly questioned,' Baig writes. 'The loonie has become very undervalued on a range of metrics.' If the funds were to adjust their currency hedge ratios, Baig says, 'even a modest hedging program would lead to the Canadian dollar outperforming its usual relationship with fundamental drivers' such as interest rate differentials. Although the report declares that 'there are big gains to be had,' it also cautions that creating the conditions where these gains are possible could be challenging. ' Foreign assets have returned more than local assets for several years,' Baig notes. 'And it could take time for any changes in government policies to translate to a shift in strategic asset allocation targets.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
20-05-2025
- Time of India
Visually challenged woman assaulted on train, one held
Mumbai: A 40-year-old man was arrested by Kalyan Govt Railway Police (GRP) on Tuesday for allegedly assaulting and inappropriately touching a visually challenged woman in a Central Railway (CR) local following a row over seats. Mohammad Ismail Baig , the accused, is a plumber from Mumbra. Baig's pregnant wife has also been booked in the case and has been served a notice by the GRP. The incident occurred on May 16. The 33-year-complainant works with a non-profit group. She boarded a Titwala-bound local from Kanjurmarg station around 9.10 pm to head home. After boarding the handicapped coach, she started asking around for a seat. According to her complaint, she asked Baig to get up from his seat as he wasn't disabled. Baig refused and said that he was accompanying his pregnant wife. The two had an argument following which Baig caught her by her hair and assaulted her. Onlookers shot a video which captured Baig hitting her, despite intervention by co-passengers. tnn
Business Journals
07-05-2025
- Health
- Business Journals
For migraine patients, specialized center at Cleveland Clinic provides advanced, holistic care
Never miss an episode of Florida Health Care Insider presented by Cleveland Clinic in Florida. Subscribe now on Apple Podcasts, Spotify or wherever you get your podcasts. There are headaches. And then, for almost 40 million Americans, there are migraines. 'A migraine is more than just a simple or even a bad headache. For some people, it can be a debilitating neurological dysfunction that can significantly impact daily life,' says Anam Baig, MD, a neurologist with the Headache and Facial Pain Center at Cleveland Clinic Weston Hospital. In this episode of the Florida Health Care Insider podcast, presented by Cleveland Clinic in Florida in partnership with the South Florida Business Journal, Dr. Baig discusses migraines' myriad causes and symptoms, and existing and potential future remedies. Dr. Baig says one of the most exciting recent developments for treating migraines is Calcitonin Gene-Related Peptide (CGRP) inhibitors. These medications block the effect of the CGRP molecule, one factor that causes migraines. Botox injections are another option that Dr. Baig says can be highly effective for some people. Before any treatment is administered, patients undergo detailed, individualized evaluations to uncover potential causes or 'triggers' and their unique symptoms - and then determine treatment plans. 'Our number-one goal is to create a holistic treatment plan that fits the patient and delivers the relief they're seeking,' Dr. Baig says. Listen to this episode to hear about: Some surprising migraine triggers (4:40) The latest medical treatments (9:15) Feedback from patients at the Headache and Facial Pain Center (13:30) Learn more here about the Headache and Pain Facial Center at Cleveland Clinic Weston Hospital. Disclaimer This podcast is for general informational purposes only and does not constitute the practice of medicine or any professional health care services. The information provided is not intended to create, and the receipt of it does not constitute, a health care provider-patient relationship. This podcast is not intended to be a substitute for any professional advice or medical advice, examination, diagnosis or treatment. Please consult a licensed medical professional before undertaking any form of medical treatment, exercise program, or dietary guidelines. If you think you may be experiencing a medical emergency, you should call a physician or 911 immediately. It is neither a legal interpretation nor a statement of Cleveland Clinic Florida Regional Health System or the South Florida Business Journal policy. Reference to any specific product or entity does not constitute an endorsement or recommendation by Cleveland Clinic Florida Regional Health System or the South Florida Business Journal. This podcast is provided as a courtesy, and we cannot guarantee that it is completely accurate or error-free. You assume all risk arising from the content of this podcast and Cleveland Clinic Florida Regional Health System or the South Florida Business Journal disclaim any liabilities to any parties.
Indian Express
05-05-2025
- Politics
- Indian Express
On alleged encroachment by Hazrat Bhure Shah Dargah near Nizamuddin, HC seeks final stance from Waqf Board
The High Court on Monday granted the Delhi Waqf Board the last opportunity to file a synopsis explaining its stance in a petition seeking restoration of the demolished structure around the nearly 500-year-old Hazrat Bhure Shah Dargah near Nizamuddin in Delhi. Justice Sachin Datta granted the Delhi Waqf Board a final opportunity to make its stance clear in a written synopsis and posted the matter for further consideration on May 13. In a petition by Yusuf Baig, mutawalli (who acts as a supervisor or manager) of the Dargah, situated at Amir Khusro Park opposite Masjid Chakkar Wali, Neela Gumbad, it has been contended that the shrine is 500 years old, and that the dargah as well as the land around it was notified as Waqf land in the Delhi gazette on December 30, 1976. According to the petitioner, PWD demolished a structure of the shrine on April 1, 2023, in preparation for the G20 Summit, without any prior notice. Baig has contended that during the Asian Games held in 1982-83, a flyover was constructed on the way commencing from Neela Gumbad to India Gate, and during that process, some portion of the Dargah was used to make the road wider, which runs alongside the shrine. A pavement was also constructed during that time, leading to the shrine. It is Baig's case that PWD has 'wrongly and falsely' asserted that the said shrine is a hindrance towards the use of pavement and 'no question arises of encroachment upon public land/footpath.' Baig has also contended that the existence of Dargah Bhure Shah 'cannot be termed as encroachment or unauthorised construction upon the public land as the same has been in existence for approximately 500 years and out of the purview of the religious committee of the Delhi government'. Noting that a circular dated May 5, 2014, issued by the Delhi government permits demolition of only those religious structures on public land that may be viewed as encroachment, Baig has contended that the shrine has not been treated as encroachment upon public land.
Time of India
26-04-2025
- Automotive
- Time of India
Back to the future: How an electric safari is changing the wild ride
Sahil Baig had a problem. The young wildlife enthusiast and safari guide at the Tadoba-Andhari Tiger Reserve in Maharashtra had been taking tourists around the rugged paths of the reserve in an old Maruti Gypsy , which he had purchased at an army auction for ₹4 lakh. For years, it served him well. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" But the noise and pollution of the internal combustion engine ( ICE ) often startled the wildlife, cutting short many magical moments his passengers could have spent with the animals. Then in 2023, he made a decision that transformed his tiger safari business. Baig removed the petrol powertrain and converted the Gypsy into an electric vehicle. The retrofitting, which cost around ₹9 lakh, including transportation to and from Delhi, was expensive to undertake. The forest department backed him, extending a loan of ₹4.5 lakh to support the initiative, he says. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Delhi: The price (& size) of these hearing aids might surprise you Learn More Undo Today, Baig effortlessly conducts two safaris a day in his electric Gypsy, while his peers in the noisy and polluting fossil fuel vehicles have been given permission for only one. The reason is simple but powerful: silence. His electric Gypsy glides through the forest with little racket. That, in turn, makes the wildlife feel less threatened. 'Tigers, leopards and deer no longer bolt at the sound of an approaching engine. Instead, they linger, giving tourists unforgettable encounters,' he beams. Live Events With 52 safaris a month and a daily earning of ₹5,400, Baig says, 'I've already recovered the cost of the retrofit. Even after covering the electricity expenses, I'm saving ₹4,000-5,000 a day.' Inspired by his success, the tiger reserve is now planning to convert most of its ICE vehicles into electric. Baig's experience highlights a critical piece missing from India's broader electrification story. There is space for retrofitted vehicles—swapping old petrol or diesel engines for electric powertrains—in India's journey to find a more sustainable and cheaper route to a cleaner, greener country, helping it achieve the holy grail of net-zero carbon emissions by 2070. Around the world Globally, it has been quite a few years since retrofitting emerged as an alternative to buying a fresh pair of wheels. As of 2023, JMK Research and Analytics' white paper valued the global retrofit vehicle market at $65.9 billion. This is expected to reach $125.4 billion by 2032. In the UK, electric kits to convert cars have been available for a while, and have found takers, particularly among classic car enthusiasts. James May, former host of Top Gear and The Grand Tour , had, back in 2021, thrown his weight behind the idea of electrification of classic cars. He said it would allow people to enjoy retro designs without the hassles of traditional classic car ownership. Interestingly, the world over, car makers are almost absent from this conversation, with smaller startups and specialists such as aftermarket fitters taking it up rather than OEMs. Only a few companies like Toyota have expressed support for retrofitting, with the vast majority of automakers expressing concerns over safety and structural integrity. There is also the misalignment with their business priority, which is to simply sell more cars. Relatively unknown companies such as Transition-One in France, EV West in the US, Lunaz in the UK and eClassics in Germany are taking the mantle of conversions in big global markets. In India, too, it is startups like Northway Motorsport, e-Trio and Tadpole Projects that are excited by the opportunity. The falling cost of lithium batteries offers a critical tailwind for the movement. 'LFP (lithium iron phosphate) battery cell prices have dropped to under $100 per kWh, even nearing $50 in the international market,' says Sunil Bhatnagar, national president, zero emissions, International Federation of Electric Vehicles. Emerging battery chemistries like LMFP (lithium manganese ferro phosphate) promise even greater energy densities at lower prices, making retrofitting more accessible. The downward trend in prices, if it persists through the world's trade wars and tariff barriers, would reduce the cost of electric powertrains significantly, augmenting the retrofitting argument. Indian play The retrofitting movement got the official sanction in India in 2018 when the government allowed ICE vehicles to be converted to electric after amending the Central Motor Vehicles Rules. Even so, opting for it has been the exception due to many reasons, including lack of awareness. Among the early movers was Jawaad Khan of Delhi-based Tadpole Projects, who began in 2020 with vintage cars but now focuses on models that offer him higher ROI like the Gypsy and the Swift Dzire. Khan's company retrofitted Baig's Gypsy and is pushing to make such conversions mainstream. The cost of retrofitting starts at ₹6.5 lakh, with a five-year battery warranty and minimal maintenance costs. 'We are building EVs without adding new vehicles to the road. It's sustainable and economical,' says Khan. Batteries come with a five-year warranty, while other components are covered for two years. 'With minimal maintenance and reduced emissions, retrofitting is both a green and practical solution,' says Khurana. Different states are responding in their own way, some with sops for retrofitting. But even here, sops are more readily available for fleet operators and three-wheelers than private customers of cars. Telangana, for example, offers a ₹15,000 subsidy and road tax exemption for the first 20,000 retrofitted three-wheelers. Another impediment holding back retrofitting, say startups, is the process of certification. A startup has to get approval for the kit for each model it retrofits. It is a costly affair and can take up to ₹30 lakh for a single model. This means, to retrofit an Ambassador car, they have to get their kit designed for the Ambassador and undergo a homologation and approval process through agencies like the Automotive Research Association of India (ARAI) and the International Centre for Automotive Technology ( ICAT ). This limits retrofitting opportunity to cars like Swift Dzire that large fleet operators use. Pune-based Suma Japanese Technologies is working on 35 certifications after securing 12 from ARAI. 'We are starting with fleets due to funding constraints,' says MD Jayapal G. Some of these startups are looking at specific use cases that may not require the same level of certification. 'We don't yet have certified kits, which means we can't retail to the general consumer,' says Gupta of Motomanic. 'That limits us to fleet operators and institutional clients where certification requirements are less stringent in certain use cases.' Its retrofitted Gypsys are on the move in the Madhya Pradesh Forest Department. But there may be little that can be done, since compliance is critical in these matters. 'It can be quite promising as an option to provide second life to old vehicles, provided government policies are formed in this regard,' says Saurabh Dalela, director, ICAT. Despite all these issues, it is time the movement showed signs of momentum. After all, from the quiet trails of Tadoba to the bustling roads of Delhi and Pune , electric retrofitting can be a cleaner, smarter option to take on pollution.
