Latest news with #CF
Time of India
5 hours ago
- Business
- Time of India
Hyd firm hands over LCA fuselage to HAL
Hyderabad: City-based VEM Technologies handed over the first centre fuselage (CF) assembly for the light combat aircraft (LCA) Mk1A to Hindustan Aeronautics Limited (HAL) on Friday, marking a significant milestone in India's defence manufacturing ecosystem. Tired of too many ads? go ad free now The handover took place in Hyderabad in the presence of Sanjeev Kumar, secretary, defence production, ministry of defence; DK Sunil, chairman and managing director, HAL; and Abdul Salam, general manager (LCA Tejas), who received the assembly from V Venkata Raju, chairman and managing director, VEM Technologies. Speaking on the occasion, Sanjeev Kumar highlighted that the collaboration between HAL and VEM Technologies is accelerating the production of the LCA Mk1A. He emphasised the govt's commitment to achieving self-reliance in defence under the Atmanirbhar Bharat initiative. "India's defence production is growing at 10% annually, with strong growth in exports as well. This would not be possible without the support of industry partners and public sector undertakings like HAL," he said. Sunil described the handover as a major milestone. "We are witnessing rapid growth in tier 1 and MSME suppliers contributing to the LCA Tejas programme. This CF delivery from VEM Technologies marks the establishment of a fourth production line for LCA Mk1A, in addition to the two existing lines in HAL Bengaluru and one in HAL Nashik. With more sub-assemblies in the pipeline, we are on track to scale up production and ensure timely deliveries to the Indian Air Force," he said. Sanjay Chawla, director general (AQA), and his team, who serve as the final acceptance authority for airborne products in military aviation, played a key role in supporting and certifying the defect-free CF assembly. Tired of too many ads? go ad free now Venkata Raju said, "We have established a dedicated hangar with two assembly lines, and a third robotic jig-based setup will be operational by end of 2025." In addition to CF, VEM Technologies is also building fuel drop tanks and pylon assemblies for the LCA Tejas.
Calgary Herald
7 hours ago
- Politics
- Calgary Herald
Persistent intruders flying into restricted G7 Kananaskis airspace could be shot down: RCMP
Article content Pilots persistently breaching restricted airspace over the G7 Leaders' Summit in Kananaskis could be shot down my military aircraft, an RCMP security official said Thursday. Article content Aerial intruders who refuse to obey orders to turn back from restricted airspace radiating 30-nautical miles from the summit venue at Kananaskis Village could be brought down with force as a last resort, said Sgt. Mark Basanta, lead aerospace planner for the G7 which runs from June 15 to 17. Article content Article content 'Shooting is an extreme measure but yes, we have the capability of taking them down,' Basanta told a press conference at the Springbank Airport just west of the city. Article content Article content 'They'll be met, they'll be intercepted, we do have (CF-)18s flying combat air patrol, we'll have Griffons (military helicopters) support. Hopefully that'll be a deterrent for them to turn around.' Article content He noted those aircraft will be making practice runs in the area in the lead-up to the gathering of leaders from Canada, the U.S., Germany, the U.K., France, Italy and Japan that's considered the largest security operation in the world. Article content Another flight exclusion zone banning unauthorized manned aircraft and drones radiating 20 nautical miles from the Calgary International Airport will be imposed, with both being in effect from 6 a.m. on June 14 to 11:59 p.m. on June 17. Article content Article content The restricted zone over Calgary won't disrupt regularly scheduled commercial airline flights, which are expected to be deviated around the Kananaskis zone to the west, said RCMP. Article content 'The hardline zone is in (Kananaskis) . . . there will be a combination of military and police assets in the air,' said Basanta, adding Blackhawk military helicopters are being integrated into the security mission.
Otago Daily Times
2 days ago
- Business
- Otago Daily Times
Grants totalling over $128k made
PHOTO: ODT FILES Twenty-one local non-profit charities and community groups have recently received a funding boost. At the May meeting of the Community Trust of Mid & South Canterbury, $128,773 was granted to 21 organisations in the Timaru, Waimate, and Ashburton districts to help key services operate for locals. Timaru organisations received $37,773, Waimate $5000, Ashburton $41,000, and $45,000 went to district-wide organisations. District-wide grants were comprised of: $10,000 for Alzheimer's South Canterbury for operational costs $2500 for the Cystic Fibrosis (CF) Association for wraparound services for CF sufferers $15,000 for Stopping Violence Services for the Enabling Youth programme $10,000 for Age Concern South Canterbury for operational costs $7500 for Youthline Central South Island for their crisis line. In the Timaru district, $37,773 was granted for services comprised of: $2000 to Barry's Food Bank towards their pet food drive for pensioners, $4000 to Bellyful NZ for nourishing whānau in Geraldine, $5000 as a guarantee against loss for the NZ Choral Federation and the Big Sing in Timaru, $5000 to South Canterbury Neighbourhood Support, $1000 for Target Shooting South Canterbury for range operating expenses, $3273 to Air Training Corps for operational costs, $10,000 to Parkinson's NZ for wrap-around support for people with Parkinson's in South Canterbury, $7500 to Timaru Yacht and Powerboat Club towards insurance costs. In the Waimate district, $5000 was granted to Waimate Community Church for Christmas in the Square. Community trust chief executive officer Tim Barnett said these grants were to help keep the doors open for important organisations throughout Mid and South Canterbury. "We are very aware of the increasing cost pressures on charities and non-profit groups who provide essential services across our region, and we are here to support them. "Our key message is always that we are here to help." — APL
Shafaq News
2 days ago
- Business
- Shafaq News
Baghdad politicizing Kurdistan's salaries ahead of elections, official says
Shafaq News/ The Iraqi government is deliberately targeting public sector salaries in the Kurdistan Region for political gain, former Deputy Finance Minister Rebaz Hamlan said on Thursday. In a statement, Hamlan accused Finance Minister Taif Sami of yielding to political pressure, alleging that Prime Minister Mohammed Shia al-Sudani and the influential Shiite Coordination Framework (CF) are 'exploiting the financial file for election campaigns and political bargaining at the expense of Kurdistan's stability and development.' 'The May salary list is free of any legal or administrative issues. Withholding payments is purely political and directly harms the people of Kurdistan,' he stated, calling the decision a violation of the Constitution, the Federal Budget Law, and Federal Supreme Court Decision No. 224, which requires the federal government to disburse salaries irrespective of political disputes. Hamlan noted that only 3.8 trillion ($2.3B) of the Kurdistan Region's agreed share of 11.5 trillion Iraqi dinars ($8.2B) for 2025 has been disbursed so far, urging Kurdish ministers in Baghdad to present a unified position in the federal cabinet and defend the financial rights of the Region's citizens. The salary dispute between Baghdad and Erbil has remained unresolved for years, often resurfacing during budget negotiations. Tensions escalated after oil exports through Turkiye's Ceyhan port halted two years ago, prompting the federal government to classify salary transfers as temporary advances rather than fixed allocations. In February, the Supreme Court ruled that salaries for Kurdistan Region employees must be paid directly by Baghdad, bypassing the Kurdistan Regional Government, after months of delays.
Mint
2 days ago
- Business
- Mint
RBI's balance sheet increases 8.2% to ₹76.25 lakh crore in FY25 on 33% forex boost
The balance sheet of the RBI increased to ₹ 76.25 lakh crore, aided by nearly 33 per cent gains in foreign exchange transactions, as of March 2025, leading to a bumper ₹ 2.7 lakh crore dividend to the central government, said the central bank's annual report released on Thursday. The keenly watched report said the Indian economy is poised to remain the fastest-growing major economy in 2025-26 by leveraging its sound macroeconomic fundamentals, robust financial sector and commitment towards sustainable growth. The economy exhibited resilience during 2024-25, supported by strong macroeconomic fundamentals and proactive policy measures, amid protracted geopolitical tensions and geoeconomic fragmentation, said the RBI's Annual Report for the Year 2024-25. Increase on assets side was due to rise in gold, domestic investments and foreign investments by 52.09 per cent, 14.32 per cent and 1.70 per cent, respectively, said the RBI's Annual Report for the Year 2024-25 released on Thursday. Income for the year increased by 22.77 per cent and expenditure rose by 7.76 per cent. "The year ended with an overall surplus of ₹ 2,68,590.07 crore as against ₹ 2,10,873.99 crore in the previous year, resulting in an increase of 27.37 per cent," it said. The balance sheet of the RBI reflects activities carried out in pursuance of its various functions including issuance of currency as well as monetary policy and reserve management objectives. According to the report, the size of the balance sheet increased by ₹ 5,77,718.72 crore, or 8.20 per cent, from ₹ 70,47,703.21 crore as on March 31, 2024 to ₹ 76,25,421.93 crore as on March 31, 2025. On liabilities side, the RBI said expansion was due to increase in notes issued, revaluation accounts, and other liabilities by 6.03 per cent, 17.32 per cent and 23.31 per cent, respectively. Domestic assets constituted 25.73 per cent while foreign currency assets, gold (including gold deposit and gold held in India) and loans and advances to financial institutions outside India constituted 74.27 per cent of total assets as on March 31, 2025 as against 23.31 per cent and 76.69 per cent, respectively, as on March 31, 2024. A provision of ₹ 44,861.70 crore was made and transferred to the Contingency Fund (CF). However, factors like easing of supply-chain pressures, softening global commodity prices and higher agricultural production on above-normal south west monsoon augur well for inflation outlook, the Reserve Bank said. Shifts in tariff policies may result in sporadic episodes of volatility in financial markets, it said, adding that exports may encounter headwinds on "inward-looking policies and tariff-wars". The trade pacts being signed and negotiated by India will help ensure that the impact is limited, the RBI said, adding that services exports and inward remittances will help ensure that the current account deficit is "eminently manageable" in the new fiscal. The RBI, which has already lowered key policy rates in two consecutive reviews, said in the annual report that there is now a "greater confidence" on durable alignment of headline inflation to the 4 per cent target over a 12-month horizon. Considering the dynamic nature of the interest rate risk, banks need to address both trading and banking book risks, especially in light of moderation in net interest margins, it recommended. Giving details about its accounts for 2024-25, RBI said the size of the balance sheet as on March 31, 2025 increased by 8.20 per cent year on year. While income for the year increased by 22.77 per cent, expenditure increased by 7.76 per cent. The year ended with an overall surplus of ₹ 2,68,590.07 crore as against ₹ 2,10,873.99 crore in the previous year, resulting in an increase of 27.37 per cent. "The size of the balance sheet increased by ₹ 5,77,718.72 crore, 8.20 per cent from ₹ 70,47,703.21 crore as on March 31, 2024 to ₹ 76,25,421.93 crore as on March 31, 2025," the report said. Increase on assets side was due to rise in gold, domestic investments and foreign investments by 52.09 per cent, 14.32 per cent and 1.70 per cent, respectively. Exchange gain from foreign exchange transactions increased by about 33 per cent to ₹ 1.11 lakh crore as on March 31, 2025 from ₹ 83,615.86 crore a year ago. The Reserve Bank spent ₹ 6,372.82 crore on printing of currency notes in the last fiscal, an increase of 25 per cent from ₹ 5,101.4 crore in the preceding financial year. The report said that the value and volume of banknotes in circulation increased by 6 per cent and 5.6 per cent, respectively, during 2024-25. "During 2024-25, the share of ₹ 500 banknotes at 86 per cent, declined marginally in value terms," it said. In volume terms, ₹ 500 denomination at 40.9 per cent, constituted the highest share of the total banknotes in circulation, followed by ₹ 10 denomination banknotes at 16.4 per cent. The lower denomination banknotes ( ₹ 10, ₹ 20 and ₹ 50) together constituted 31.7 per cent of total banknotes in circulation by volume. The withdrawal of ₹ 2000 banknotes from circulation, initiated in May 2023, continued during the year and 98.2 per cent of ₹ 3.56 lakh crore in circulation at the time of announcement have returned to the banking system up to March 31, 2025. The value and volume of coins in circulation increased by 9.6 per cent and 3.6 per cent, respectively, during 2024-25. Also, the value of e-rupee in circulation increased by 334 per cent during 2024-25. The supply of notes increased by 24.69 per cent from 2,43,000 lakh pieces during the year 2023-24 to 3,03,000 lakh pieces during 2024-25. Currency in circulation includes banknotes, central bank digital currency (CBDC) and coins. Presently, banknotes in circulation comprise denominations of ₹ 2, ₹ 5, ₹ 10, ₹ 20, ₹ 50, ₹ 100, ₹ 200, ₹ 500 and ₹ 2000. The Reserve Bank is no longer printing banknotes of denominations of ₹ 2, ₹ 5 and ₹ 2000. Coins in circulation comprise denominations of 50 paise and Re 1, ₹ 2, ₹ 5, ₹ 10 and ₹ 20. On counterfeit notes, the report said that during 2024-25, out of the total Fake Indian Currency Notes (FICNs) detected in the banking sector, 4.7 per cent were detected at the Reserve Bank. The counterfeit notes detected in the denominations of ₹ 10, ₹ 20, ₹ 50, ₹ 100 and ₹ 2000 declined during 2024-25, while those in ₹ 200 and ₹ 500 denominations increased by 13.9 and 37.3 per cent, respectively, as compared with the previous year.
