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- A + A KUALA LUMPUR (May 18): Cahya Mata Sarawak Bhd (CMS) posted a 7.42% drop in net profit for the first quarter ended March 31, 2022 (1QFY22) to RM72.02 million, from RM77.8 million a year ago, despite an improvement to its quarterly revenue. The group’s filing on Wednesday (May 18) showed that its quarterly revenue had climbed 5.93% to RM214.04 million in the quarter under review versus RM202.06 million in the previous corresponding quarter. The group attributed the lower net profit to higher tax expenses recognised in relation to higher taxable income from its divisions. It noted that its 1QFY21 earnings also included one-off gains from the disposal of Kenanga Investment Bank Bhd (KIBB) shares — amounting to RM28.52 million — and disposal of land and investment properties — amounting to RM16.99 million. Meanwhile, CMS attributed the improved revenue to higher revenue contributions from its cement and road maintenance divisions of 7% and 36% respectively. … [Read more...] about Cahya Mata Sarawak 1Q net profit down 7.42% on higher tax expenses

- A + A (May 18): Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push their pivots toward greener energy. With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. Ambani’s Reliance Industries Ltd is snapping up distressed crude-oil cargoes at discounts to feed its refining complex, the biggest in the world. Reliance even deferred a scheduled maintenance of the facility to help churn out more diesel and gasoline, whose margins have shot up to touch a three-year high. The two Indian tycoons are stepping in at a time when many developed countries are scrambling for alternative sources of fuels as they try to back away from Russian supplies. This month, the Group of Seven most-industrialized nations pledged to ban imports of Russian oil. The … [Read more...] about Asia’s two richest men reap windfall from surging oil, coal

Aviation minister Jyotiraditya Scindia, 51, has agreed to examine a new rule on generating boarding passes. Aviation minister Jyotiraditya Scindia has promised to look into the matter of airlines charging extra to provide a hard copy of boarding pass to passengers. Scindia agreed that airlines charging extra for generating a boarding pass was “ridiculous” when tagged in a complaint about low-cost airline SpiceJet. On Friday, a Twitter user complained about SpiceJet charging their customers for generating a boarding pass at the check-in counter. “New rule of SpiceJet. If you wish to get a boarding card at the check in counter, you need to pay extra. This is like telling a customer in a restaurant that if you want eat in a plate, you will be charged,” the user tweeted. This issue was brought to the aviation minister’s attention by a journalist who branded the rule “ridiculous.” "Agreed, will examine this asap!" Jyotiraditya Scindia promised. Agreed, will examine this … [Read more...] about Aviation minister Scindia to examine ‘ridiculous’ new airline rule

The Unmanned Aircraft System Rules, 2021, was notified by the Centre on March 12. Drone pilot courses will get cheaper as the number of training schools increases in the country in the coming days, civil aviation minister Jyotiraditya Scindia said on May 17. Depending on the course and the institute, the fee ranges between Rs 30,000 to Rs 1 lakh. "As of now, there are 23 Directorate General of Civil Aviation (DGCA)-certified schools for drone pilot training. In the next four-five months, as the number of schools increase, I assure you that its fees will also decrease," Scindia said during an interaction with various stakeholders of the ecosystem, including manufacturers, farmers and academics. Scindia was responding to a Gujarat-based farmer who said there was a dearth of drone pilots in the country. The high fee for training courses was also flagged during a National Conference on Promotion of Kisan Drones: Issues, Challenges and Way Forward in New Delhi a few weeks … [Read more...] about Drone pilot training courses to get cheaper as more schools open, says Scindia

The Unmanned Aircraft System Rules, 2021, was notified by the Centre on March 12. Digital Sky, the online platform hosted by the Directorate General of Civil Aviation (DGCA) for various activities related to the management of drones in India, will be fully functional by October 2022, the regulatory body under the Ministry of Civil Aviation said. While addressing the National Conference on Promotion of Kisan Drones: Issues, Challenges and Way Forward, DGCA Assistant Director Manish Gupta said that Set 2 of Phase 2 of Digital Sky which includes features such as applying for a remote pilot certificate, application for starting Remote Pilot Training Organisation, pilot certificate, and flight plan submission will be enabled by July this year. Gupta added that Set 3 of Phase 2, which has features such as Situational Awareness enhancements, beyond the visual line of sight (BVLOS) operations, suspension or cancellation or revocation of permissions, and compliance to Drone Rules … [Read more...] about Drone operations | Digital Sky platform to be fully functional by October, says DGCA

Representative image. Drone manufacturing and services will create a multitude of jobs and is touted to be an over Rs 30,000-crore industry, Ministry of Civil Aviation Jyotiraditya Scindia said on May 10. Addressing the “Experience Studio on Drones” event organised by the government think tank Niti Aayog, Scindia said, "The potential is huge in the drone industry. On the manufacturing side, we are looking at Rs 5,000 crore investments and creation of 10,000 jobs. On the services side, we are looking at creating a Rs 30,000-crore industry." In the coming years, the country would need nearly a lakh drone pilots, the minister said. "Today a drone pilot can be trained without requiring any college degrees. They just need to (be) 12th class pass. They can be into a job within two-three months, and get Rs 30,000 per month salary," he added. Moneycontrol recently wrote about four transgender community members who were the first to be appointed as Directorate General of Civil … [Read more...] about India will need around 1 lakh drone pilots in the future: Jyotiraditya Scindia

Maya Sree operating a drone Maya Sree, who goes by only one name, left her hometown in 2018, when she decided to live her life as a transwoman. Her parents did not accept her the way she was, or the jobs that she had taken up earlier to support herself. “But when my parents came to know that I was working for Dhaksha in Anna University campus, I received a call from my family, and they spoke to me, and told me that they were very proud of me. Personally, it’s not just a job for me but a new life,” Maya Sree, a Directorate General of Civil Aviation (DGCA)-certified drone pilot of the Chennai-based Dhaksha Unmanned Systems (DUMS) told Moneycontrol. Maya Sree, along with course mates Pragya, Sai and Rahmatullah, are the first from the transgender community in India to be appointed as drone pilots. They underwent intensive training before being absorbed by the company which operates drones with applications in surveillance, agriculture and defence. For them, this job at DUMS gives … [Read more...] about For four from trans community, drone pilot jobs give the wind beneath their wings

What does it take to trigger a crash in the stock market? A once-in-a-century pandemic? The biggest war in Europe in 70 years? The US Federal Reserve instantaneously cutting off the supply of the opium of record liquidity and low interest rates? Multi-year high inflation? How about black magic? The Oxford Dictionary defines black magic as a type of magic that is believed to use the power of the devil in order to do evil. In a world where boring financial data, profit and loss statements, and complex macroeconomic events sway the everyday movement of stock prices and stock indices, one Rajkot-based stockbroker claimed last week that he spent more than Rs 8 crore to engineer a multi-day crash in the stock market with the help of esoteric black magic. Close “We are responsible to a great extent for today’s fall and the fall of the past few days in the market. You won’t believe it, but we have spent over Rs 8.5 crore today in kala jadu (black magic) to create … [Read more...] about A lone bear, black magic and a $235 billion stock market crash

As border encounters broke historic levels in April, over 117,000 migrants were allowed to stay in the country, according to a court filing. The Department of Homeland Security (DHS) reported the release of 117,989 out of the 234,088 migrants encountered at the U.S.-Mexico border in April, according to the filing. Meanwhile, DHS expelled 113,248 migrants under Title 42 or Title 8, for inadmissibility , in April. The number of migrants authorities encountered is the highest since DHS began recording southwest border encounters. (RELATED: Migrants Bused To DC Don’t Stay There. Here’s Where They’re Going) Title 42, the Trump-era policy used to quickly expel certain migrants to Mexico, is set to end May 23, the Centers for Disease Control and Prevention (CDC) announced April 1. However, a federal judge indicated Friday he would make a decision on whether to grant a pause in a Republican attorneys general lawsuit against Biden before the planned end date, according to … [Read more...] about Here’s How Many Migrants Biden’s DHS Released Into The US In April

Department of Homeland Security (DHS) Secretary Alejandro Mayorkas pleaded with migrants Tuesday to not trust smugglers who offer to bring them into the country, even as they cross illegally in droves. “Do not place your lives in the hands of individuals who only seek to exploit your lives for the sake of profit. We are building safe, orderly and humane pathways to access the benefits that the law provides and that Congress has passed,” Mayorkas said during a border trip to McAllen, Texas. “But, traveling from one country to another in the hands of smugglers only to be met by the enforcement authorities of the United States government is not the way to achieve relief. The laws of the border will be enforced.” (RELATED: Migrants Bused To DC Don’t Stay There. Here’s Where They’re Going) Southern border authorities encountered 234,088 migrants in April, 117,989 of which were released into the country. DHS is preparing for an influx of migrants in the coming months with the … [Read more...] about ‘Not The Way To Achieve Relief’: Biden’s DHS Chief Attempts To Dissuade Migrants As The Border Gets Overwhelmed