Latest news with #PCA
&w=3840&q=100)
Business Standard
2 hours ago
- Business
- Business Standard
IDBI Bank rallies 5%, hits 11-month high; stock rises for 7th straight day
IDBI Bank share price today IDBI Bank shares hit an 11-month high of ₹106.34 on the BSE in Monday's intraday trade, amid heavy volumes, in an otherwise weak market on reports that the government is close to the financial bid phase in the bank's privatisation journey. The stock price of the private sector lender is trading at its highest level since July 2024. It had hit a 52-week high of ₹107.98 on July 29, 2024. Notably, shares of IDBI Bank are quoting higher for the seventh straight trading day, ralling19 per cent during the period. At 12:09 PM, the stock was quoting 4.4 per cent higher at ₹105.72 as compared to a 0.32-per cent decline in the BSE Sensex. Average trading volume on the counter more-than-doubled with 34.51 million shares, together, changing hands on the NSE and BSE. CATCH STOCK MARKET LATEST UPDATES LIVE Why is IDBI Bank share price rising today? According to a report by CNBC-TV18, the Government could soon finalise a share purchase agreement with potential buyers, and may seek approval from the ministerial panel overseeing the deal. Business Standard couldn't verify the report. The government has been working on the privatisation of IDBI Bank for nearly three years. On October 07, 2022, the Department of Investment and Public Asset Management (DIPAM) released a Preliminary Information Memorandum, inviting expression of interest (EOI) from interested parties for a stake sale in IDBI Bank. As on March 31, 2025, Life Insurance Corporation of India (LIC) and Government of India (GoI), together, hold 94.71 per cent shareholding in the bank, and have stated their intent to divest their shareholding in the bank through a strategic stake sale with an intent to handover management control in the bank, for which, the process is underway. The extent of the respective shareholding to be divested by GoI and LIC will be decided at the time of structuring the transaction, in consultation with the Reserve Bank of India (RBI). DIPAM Secretary Arunish Chawla, in April, said the government has appointed asset valuers for valuation of IDBI Bank and is also deliberating the share purchase agreement to be signed with a prospective buyer. Meanwhile, CARE Ratings expects the bank to receive required support from GoI and LIC to enable smooth divestment of the shareholding. "Our 'stable' outlook on IDBI Bank factors in the expectation that the bank will continue growth in advances and deposits and maintain profitability, while maintaining comfortable capitalisation and steady asset quality parameters," the rating agency said in rationale. "Although the bank witnessed steady business (advances and deposits) growth, its share in sector advances and deposits has declined from the peak levels as on March 31, 2017. This is due to the growth restrictions under the prompt corrective action (PCA) framework and the subsequently low growth rate in comparison to the sector average. Further, IDBI's ability to maintain and grow the core deposit base upon the change in ownership would be monitorable,' ICRA had said in its rationale dated January 17, 2025. IDBI Bank Outlook Apart from the steady growth in advances and the consequent improvement in its core income and profit, IDBI Bank continues to benefit from the recoveries from significantly provisioned stressed assets. The operating profitability is supported by strong recoveries from written-off accounts while credit and other provisions also remained low, supporting the overall profitability. The Bank has been scaling up its granular loan portfolio, comprising retail and priority sector segments, while augmenting its well-rated corporate loan book with an optimal mix of fund and non-fund exposures. Bank, while growing its advances portfolio, has also been focusing on maintaining a healthy loan portfolio and managing its credit risk effectively by strengthening its credit underwriting process and close monitoring of its loan accounts, IDBI Bank said in its FY25 annual report.
Express Tribune
15 hours ago
- Politics
- Express Tribune
Watershed decision
Listen to article The Permanent Court of Arbitration's (PCA) supplemental award affirming its jurisdiction over the Indus Waters Treaty (IWT) despite India's unilateral suspension marks a critical juncture in South Asia's most volatile water dispute. But with India categorically rejecting the ruling in Pakistan's favour, it must be noted that dangerous fissures are being exposed. This is because international law is only enforceable if state parties act in accordance with the law, or superpowers ensure their enforcement. Recent history has shown India to be a rogue state, conducting assassinations in foreign jurisdictions and starting wars on flimsy grounds without offering evidence. Unfortunately, unlike other rogue states, India's market makes it attractive to many Western nations, meaning that enforcing a legal arbitration decision is going to be an uphill task. In what can only be seen as mocking the court, New Delhi has questioned the legitimacy of the PCA, even though it is involved in half a dozen other ongoing arbitrations before it. The only difference is that most of those other arbitrations were initiated by parties based in developed countries, including the UK and South Korea. The arbitrator's ruling that IWT requires mutual consent throws cold water on India's attempt to hold it "in abeyance" following the April 22 Pahalgam terror attack. Perhaps more significantly, the case, which was brought by Pakistan over India's proposed Kishenganga and Ratle hydropower projects, appears to confirm that India has no authority to build any dams or barriers that would alter the flow of the river without Pakistan's consent. However, even if New Delhi is to be believed and this issue can only be discussed bilaterally, they would still need to treat Pakistan with due respect. Unfortunately, India's leaders have clearly succumbed to delusions of grandeur, earnest in their delusions that when India talks, the US and Russia listen, rather than the other way around.
Daily Mail
21 hours ago
- General
- Daily Mail
Photo showing yellow tube attached to a plane sparks concern but it has a vital use to keep passengers alive
An airline passenger was sitting on the tarmac awaiting his flight's departure, when he noticed something peculiar happening to the aircraft next to him. Reddit user AwkPotato, watched as a ground staffer pulled out a long, large yellow tube and attached it to the underbelly of a nearby JetBlue flight. As the employee turned it on, air began to flow directly into the bottom of the plane. The Reddit user took a photo and posted it to Reddit's 'What is this thing' thread asking what it was for and people were quick to reveal the answer. 'Dude connected this thing to the underside of the plane and then when it 'turned on' it seemed to fill air towards the plane,' AwkPotato wrote. Several people revealed that the long, yellow cylinder was cycling in air-conditioning for the passengers. One wrote: 'It's air conditioning,' a user wrote. 'Worked on ground staff for eight years.' Another agreed and said: 'PCA. Preconditioned Air. For cooling/preheating parked aircraft.' Users in the comments said that the tube acted as a fan for the aircraft as a whole. 'Probably air conditioning to keep the electronics cools while the engines are off or at idle. 'Used them when I was in the air force when running tests on the aircraft,' another poster wrote. 'It is designed to cool the entire aircraft so the aircraft doesn't have to burn fuel parked at the gate,' another said. And one Reddit poster broke down why it was so important that this tube be attached to the plane prior to take off, reflecting on the recent crash of Air India 171. 'People don't understand how heat can mess with important components. Looking at the Air India 171, they were on the tarmac for over 2 hours in 40c+ temps. 'One of the major theories on the crash is vapor lock in the fuel lines and failure of the hydraulic fuel pumps which can cause total engine failure. 'There is a video of people fanning themselves inside the passenger cabin. Something as simple as air-conditioning might have saved 270+ people.'
Business Recorder
2 days ago
- Business
- Business Recorder
IWT: PM hails arbitration court's ruling
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday hailed a ruling by the Permanent Court of Arbitration (PCA) concerning the Indus Waters Treaty (IWT), describing it as a 'major endorsement' of Pakistan's longstanding stance on the dispute with neighbouring India. In a statement issued by the Prime Minister's Office, Sharif said the PCA's Supplemental Award confirmed that India does not have the authority to unilaterally suspend or hold in abeyance the treaty, which governs the distribution of water between the two countries. 'We are working upon water resources as the water is the lifeline for the people of the country,' he said. Sharif also commended his legal team for what he described as their 'significant legal contributions' in presenting Pakistan's case before the international tribunal. The Supplemental Award, made public on the PCA's website on Friday, was issued as part of proceedings initiated by Pakistan against India under the terms of the 1960 IWT. The ruling states that India's unilateral decision to suspend the treaty's dispute resolution mechanism did not strip the court of its jurisdiction to hear Pakistan's complaints. In its findings, the PCA concluded: 'The text of the Treaty, read in light of its object and purpose, does not allow either party, acting unilaterally, to hold in abeyance or suspend an ongoing dispute settlement process.' The ruling further clarified that the treaty remains in force unless terminated by mutual agreement between India and Pakistan, stating: 'Such text definitively indicates an intent by the drafters not to allow for unilateral action to alter the rights, obligations, and procedures established by the Treaty.' Pakistan has welcomed the decision, saying it affirms the authority of the court and of the neutral expert to adjudicate matters arising under the treaty, despite India's attempts to halt the proceedings. The 1960 Indus Waters Treaty, brokered by the World Bank, has long been seen as a rare example of sustained cooperation between India and Pakistan, despite decades of political and military tensions. Copyright Business Recorder, 2025
See - Sada Elbalad
2 days ago
- Politics
- See - Sada Elbalad
Shehbaz Welcomes PCA's Supplemental Award on Indus Waters Treaty
By Ahmad El-Assasy Prime Minister Shehbaz Sharif has welcomed the supplemental award issued by the Permanent Court of Arbitration (PCA) in The Hague, calling it a significant legal vindication of Pakistan's position in the ongoing Indus Waters Treaty (IWT) dispute with India. The award reaffirmed the Court's jurisdiction, rejecting India's claims that its unilateral suspension of the treaty rendered the arbitration process invalid. In a statement, the Prime Minister hailed the decision as a legal victory for Pakistan, stating that India cannot unilaterally suspend or withdraw from the IWT, which has governed water-sharing arrangements between the two countries since 1960. He stressed that the treaty remains binding and in force unless both parties mutually agree to modify or terminate it, as clearly stipulated under Article XII(4) of the agreement. Shehbaz Sharif praised the efforts of the Pakistani legal team, particularly Law Minister Azam Nazeer Tarar and Attorney General Mansoor Awan, for their effective handling of the case. He reiterated that water is the lifeline of the nation and that Pakistan remains committed to protecting its water resources and rights under international law. The PCA's award also confirmed that the roles of both the Court of Arbitration and the Neutral Expert can continue in parallel, countering India's objections to the dual proceedings. The tribunal held that once arbitration has been initiated, its authority is not dependent on India's consent, and the process must follow the legal framework outlined in the treaty. Following the tribunal's July 2024 hearings in The Hague, Pakistan now awaits a ruling on the merits of its case concerning Indian hydropower projects, including Kishenganga and Ratle, which Islamabad argues violate treaty provisions. The Prime Minister reiterated Pakistan's willingness to engage in meaningful dialogue with India on all unresolved issues, including Jammu and Kashmir, water, trade, and counterterrorism. However, he stressed that such dialogue must be grounded in mutual respect and international legal obligations. India, for its part, has rejected the PCA's supplemental award, calling the court 'illegally constituted' and insisting that it remains unbound by its decisions. New Delhi maintains that its suspension of the treaty was a sovereign act in the context of security concerns following the April attack in Pahalgam. Despite India's position, the PCA's ruling is widely seen as a reaffirmation of the enduring nature of international treaties and the authority of global arbitration mechanisms. For Pakistan, the decision marks a milestone in its legal efforts to safeguard its share of the Indus Basin waters and uphold the sanctity of the Indus Waters Treaty. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
