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<ul><li>Queensland’s Department of Environment and Science gave a go ahead for Adanis to start construction at the Carmichael coal mines.</li><li>The approval has been termed as bad news by environmental groups. </li></ul>After a decade long battle, Gujarat-based <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword> finally won the rights to develop its Charmichael coal mine in Queensland, Australia. The controversial coal mine became a hotbed for climate change concerns. But today, Adani <a href="https://www.abc.net.au/news/2019-06-13/adani-carmichael-coal-mine-approved-water-management-galilee/11203208">received</a> a go-ahead from Queensland’s Department of Environment and Science (DES). The approval was holding up the billionaire Gautam Adani-led group from kickstarting construction at the mine. The project to develop the mine also involves building a railway line which will connect the mine to Abbot Point port, aiding exports. This infrastructure is estimated to cost around $3.3 billion. However, there were concerns that the construction would have an adverse impact on the groundwater table. Added to that, the endangered finch bird which is native to the region, could also be affected, according to environmental groups. DES has been <a href="https://www.abc.net.au/news/2019-06-13/adani-carmichael-coal-mine-approved-water-management-galilee/11203208">reviewing</a> Adani’s groundwater management plan for over two years. Eminent scientific bodies like CSIRO (Commonwealth Scientific and Industrial Research Organization) and Geoscience Australia are among those which conducted reviews of the project’s groundwater management plan. Adani acquired the mines in 2010 and they were expected to produce 8-10 million tonnes of thermal coal a year. This coal can be used to generate electricity, though the quality of coal has been described as ‘low’ with high ash content. Not only was the coal mine acquisition controversial due to its claimed economic benefits and financial viability; it also ran into an environmental quagmire. The coal basin is located in a pristine area, and this approval was opposed by green groups who believe that it can affect the Great Barrier Reef. It is also believed to deplete the groundwater at its site and the carbon emissions will not help the delicate balance of the area either. The <a href="https://in.reuters.com/article/australia-coal-adani-ent/adani-wins-green-light-for-long-awaited-australian-coal-mine-idINKCN1TE0C0">approval</a> has been described as “bad news” by the Australian Marine Conservation Society.

Australia allows India's Adani Group to start construction at the Carmichael mine

Billionaire investor Geroge <keyword id="177967" type="General" weightage="80" keywordseo="soros" source="Orion">Soros</keyword> has weighed in on the ongoing Adani-Hindenburg row stating that Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> is "silent" on the issue and will have to "answer questions from foreign investors and in parliament." BJP was quick to lash out a the US tycoon stating that "George Soros an international entrepreneur has declared his ill-intention to intervene in democratic processes of India." Soros in a speech on Thursday said that Gautam Adis "accused of stock manipulation and his stock collapsed like a house of cards." "<keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> Enterprises tried to raise funds in the stock market but failed," Soros said. <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword> has been accused by US shortseller Hindenburg of engaging in "brazen stock manipulation and accounting fraud" over decades, a claim that Adani Group has stoutly denied. Terming Modi and Adani as "close allies," whose "fate is intertwined", the 92-year-old billionaire investor said, "This will significantly weaken Modi's stranglehold on India's federal government and open the door to push for much-needed institutional reforms." "I may be naive, but I expect a democratic revival in India," Soros said in his remarks delivered at the 2023 Munich Security Conference. US-based short seller, in its report on January 24, raised concerns about shares of Adani group companies having a possibility of declining from their current levels owing to high valuations, "brazen stock manipulation", and "accounting fraud", among others. After the report came out, share prices of companies in the Adani Group dropped significantly. The continued sell-offs in the group's stocks led its flagship firm, Adani Enterprises Limited, to cancel a fully subscribed Rs 20,000 crore follow-on public offer. In its response the Adani Group, on January 29, in a long 413-page report, said the report by Hindenburg Research was not an attack on any specific company but a "calculated attack" on India, its growth story, and ambitions. The Adani Group has attacked Hindenburg as "an unethical short seller" and stated that the report by the New York-based entity was "nothing but a lie". The Adani-Hindenburg row was also raised in Parliament with Opposition parties disrupting proceedings in the recent Budget Session wit their demands for a joint parliamentary committee probe into the matter Congress has written to Reserve Bank of India Governor and SEBI chairperson , in two separate letters, seeking an investigation on the allegations levelled against the Adani Group by Hindenburg Research. Earlier on Monday, the central government informed the Supreme Court that SEBI is competent to handle the situation and it has agreed to constitute a committee to protect investor interests, following Hindenburg's report on Adani Group. The Solicitor General Tushar Mehta informed a bench of Chief Justice DY Chandrachud that SEBI is completely equipped to deal with the situation and said that the government has no objection to appointing a committee to suggest ensuring investors are protected in the future. However, he said that the remit of the committee is important since it has an effect internationally. He also said that the government will provide names in a sealed cover. Last week, the Supreme Court sought a response from the Ministry of Finance and SEBI on how to ensure that Indian investors are protected in future against sudden volatility observing the recent crash due to the Hindenburg Research report. Meanwhile, in his Thursday speech, Soros termed India India an interesting case of democracy. "PM Modi maintains close relations with both open and closed societies. India is a member of the Quad (which also includes Australia, the US, and Japan), but it buys a lot of Russian oil at a steep discount and makes a lot of money on it," Soros said. The BJP attacked Soros as "a man who broke bank of England" and is "designated by nation an economic war criminal." "The pronouncements made by George Soros need to be understood. He makes such pronouncements to demolish Indian democracy so that his handpicked people run the government in the country," BJP leader and union minister <keyword id="6612" type="General" weightage="50" keywordseo="smriti-irani" source="Orion">Smriti Irani</keyword> said in a press conference today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/govt-gives-in-principle-approval-to-nine-ethanol-blending-projects/articleshow/98005422.cms">Govt gives in-principle approval to nine ethanol blending projects</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vodafone-idea-continues-to-bleed-subscribers/articleshow/98006341.cms">Reliance Jio and Airtel add subscribers as Vodafone Idea continues to bleed subscribers</a>

George Soros wades into Adani-Hindengburg row, says PM Modi "silent"; BJP hits back

<keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>'s Australian mining division Bravus Mining &amp; Resources has struck coal in the much controversial Charmichael project in Queensland. <keyword id="10224761" type="COMPANY" weightage="20" keywordseo="bravus-mining-and-resources">Bravus Mining and Resources</keyword> CEO David Boshoff noted that it was an exciting day for the over 2,600 people on the Project; a day that has been in the making for over a decade. "Nearly two years ago today we received our final approvals to develop the Carmichael mine and rail Project. We have faced many hurdles along the way, but thanks to the hard work and perseverance of our team, we have now reached the coal seams," the CEO said. Boshoff said Bravus was on track to export first coal as promised, in 2021. "We're on track to export first coal this year, and despite reaching this significant milestone, we will not take our eyes off our larger goal of getting coal to market," he said. Taking to Twitter, <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, Chairman of Adani Group said: "Proud of my tenacious team who mined Carmichael's 'first coal' in the face of heavy odds. There couldn't be a better birthday gift than being able to strengthen our nation's energy security and provide affordable power to <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s millions. Thank you, Queensland and <keyword id="6355478" type="LOCATION" weightage="20" keywordseo="australia">Australia</keyword>." As per the company, India will be a foundation customer for the Carmichael mine and is the fourth largest global user of electricity as well as the source of the biggest growth in global energy demand. The mine has been at the centre of several protests and campaigns by environmentalists. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-chinas-2021-crypto-crackdown-in-2021-differs-from-the-2017-ban/articleshow/83802778.cms">Here’s how China’s 2021 crypto crackdown in 2021 differs from the 2017 ban</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO -- here's a look at if it makes sense</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-may-have-lost-90-million-in-the-recent-crypto-crash/articleshow/83773974.cms">Bitcoin's dip to below $30,000 has Tesla sitting on a loss of $90 million even if the price recovers</a> <a href="https://www.businessinsider.in/india/faqs/delta-plus-variant-of-covid-19-all-you-need-to-know-about-this-variant/articleshow/83770735.cms">Delta Plus: All you need to know to need to know about the new Coronavirus variant</a>

Adani Group's Bravus Mining and Resources strikes coal at Australia's Charmichael project in Queensland

<keyword id="76451" type="COMPANY" weightage="100" keywordseo="Adani">Adani</keyword>'s $21.7 billion coal mine project in <keyword id="6355478" type="COUNTRY" weightage="100" keywordseo="Australia">Australia</keyword> was being targeted by a "foreign funded, highly orchestrated" group which influenced the traditional land owners and legal environmental challenges' to stop it, a new set of emails released by <keyword id="6409883" type="PERSON" weightage="20" keywordseo="wikileaks">WikiLeaks</keyword> has said. 
 According to news agency, in a series of emails, it has been disclosed that the <keyword id="3774525" type="UNKNOWN" weightage="20" keywordseo="us-based-sandler-foundation">US-based Sandler Foundation</keyword> funded Australia-based environmentalist group, the Sunrise Project, which offered "Wangan and Jagalingou people" financial support and scholarships if they opposed Adani's mine project and also boasted of its attempts to hide its funding sources from Australian parliament, according to 'The Australian' newspaper today. 
 According to report, the previously secret briefings as part of <keyword id="3043" type="PERSON" weightage="20" keywordseo="Hillary-Clinton">Hillary Clinton</keyword>'s campaign chairman <keyword id="1246082" type="PERSON" weightage="20" keywordseo="John-Podesta">John Podesta</keyword>'s emails, said Sunrise tailored its advice to indigenous communities in northern <keyword id="88075" type="COMPANY" weightage="20" keywordseo="Queensland">Queensland</keyword>, and that the "whole <keyword id="948066" type="UNKNOWN" weightage="20" keywordseo="Galilee-Basin">Galilee Basin</keyword> fossil fuel industrial complex is in its death throes". 
 It was also disclosed that an associated group, <keyword id="59430" type="ORGANIZATION" weightage="20" keywordseo="Human-Rights-Watch">Human Rights Watch</keyword>, offered to help Sunrise Project by keep its tax-exempt charity status because "the mining companies seem to own the Liberals (in Australia) and they play very dirty". 
 Human Rights Watch chief executive <keyword id="3774533" type="UNKNOWN" weightage="20" keywordseo="ken-roth">Ken Roth</keyword> further disclosed that his group received "charitable status by special parliamentary bill" in the "waning days of the <keyword id="6451308" type="ORGANIZATION" weightage="20" keywordseo="Labor">Labor</keyword> government". 
 In an email to <keyword id="3774528" type="ORGANIZATION" weightage="20" keywordseo="sandler-foundation">Sandler Foundation</keyword> last August after a decision against the Adani mine, Sunrise Project director <keyword id="3774534" type="UNKNOWN" weightage="20" keywordseo="john-hepburn">John Hepburn</keyword>, who is said to be the author of the strategy to block the mine, thanked the <keyword id="142144" type="CITY" weightage="20" keywordseo="Foundation">Foundation</keyword> for its support and wrote 'without your support none of this would have happened". 
 He wrote that he was going to buy a "few bottles of bubbly" for a celebration with "our colleagues at GetUp!!!!, <keyword id="69355" type="ORGANIZATION" weightage="20" keywordseo="Greenpeace">Greenpeace</keyword>, 350.org, Australian Youth Climate Coalition, Mackay Conservation Group, Market Forces and the brilliant and tireless Sunrise team". 
 <keyword id="657018" type="PERSON" weightage="20" keywordseo="Hepburn">Hepburn</keyword>'s email to the Foundation also mocked the coal industry for the claim "there is some kind of foreign-funded and tightly orchestrated conspiracy to systemically destroy the Australian coal industry". 
 Reacting to the latest disclosure, <keyword id="1057128" type="UNKNOWN" weightage="20" keywordseo="Adani-Australia">Adani Australia</keyword> chief executive <keyword id="2241514" type="UNKNOWN" weightage="20" keywordseo="Jeyakumar-Janakaraj">Jeyakumar Janakaraj</keyword> said the leaked emails were "evidence that these are broader well-funded activist campaigns as part of a wider anti-coal campaign that is being financially backed and influenced a long way from workers in Australia and those suffering energy poverty in India". 
 
"The leaks show, however, that the anti-coal campaign is not about the merits of the approval process at all; it's about activists motivated to stop jobs and investment,"he said. 
 The latest disclosure came days after the Queensland development minister <keyword id="2782550" type="UNKNOWN" weightage="20" keywordseo="Anthony-Lynham">Anthony Lynham</keyword> announced that the state government had invoked special powers to ensure the controversial <keyword id="110855" type="PERSON" weightage="20" keywordseo="Carmichael">Carmichael</keyword> coal and rail project starts next year. 
 
The project is now in its seventh year of the environmental approval process.

Adani's $21.7 billion coal mine
project in Australia is targeted by a "foreign funded” groups

<ul><li><keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword> has launched its own buy now, pay later offering to its 9 million Australian users.</li><li>From Wednesday, PayPal customers will be able to ‘Pay in 4’, with no threat of late fees.</li><li>“Our business model does not rely on late fee revenues and we believe that many people who miss a payment do so by mistake, not design,” said Andrew <keyword id="1839050" type="PERSON" weightage="20" keywordseo="toon">Toon</keyword>, general manager of payments in Australia.</li></ul> The entry of PayPal into the local market represents the single biggest disruption to the crowded Australian sector to date. With nine million Australian customers, the $474 billion payment giant dwarfs not only Afterpay, but the entire buy now, pay later niche, as it launches <a href="https://www.businessinsider.com.au/paypal-australia-buy-now-pay-later-afterpay-2021-3" target="_blank">its own version of the popular split payment option</a>. From Wednesday, PayPal customers will be able to ‘Pay in 4’, with no threat of late fees, placing enormous pressure on one of Afterpay’s key revenue sources, worth more than $70 million a year to it. Andrew Toon, general manager of payments in Australia, said it was “the right thing to do” for customers. “Our business model does not rely on late fee revenues and we believe that many people who miss a payment do so by mistake, not design,” Toon said. “By removing late fees, we are providing our Australian customers with a secure buy now, pay later service without the risk of being penalised for late payments.” Like Afterpay, PayPal’s option is ostensibly ‘interest-free’, although it will take its usual cut of up to 3% on domestic transactions from the retailer. Still, from a merchant perspective, those fees are less than what many Australian rivals, Afterpay included, charge. With PayPal providing potential access to a far larger consumer base, it would appear to be an instantly attractive option, at least on paper. Unlike most of its Australian competitors, PayPal will also engage an external credit bureau in combination with its own analytics and data to determine whether or not a customer is approved. In order to use the service, a PayPal customer must have their account “in good standing” with purchases limited to between $30 and $1,500. Should that be the case, customers will see the ‘Pay in 4’ option appear in their PayPal wallet. Retailers meanwhile can provide a direct link on their online stores. It also ensures that the rollout should proceed relatively instantly, being available at any checkout where PayPal is already being used. With “hundreds of thousands of Australian retailers” already signed up, it ensures PayPal’s footprint instantly dwarfs Afterpay, which counts less than 50,000 “partners”. <h2 style="font-family: &quot;LabGrotesque Black&quot;, &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif; font-weight: 400; margin-top: 20px; margin-bottom: 1em; font-size: 30px; color: rgb(51, 51, 51); background-color: rgb(255, 255, 255);"><cmsannotation type="cmsannotation" annotationid="Big tech is coming for Afterpay’s lunch" comment="subhead" text="Big tech is coming for Afterpay’s lunch">Big tech is coming for Afterpay’s lunch</cmsannotation></h2>It remains to be seen whether or not PayPal’s entry into the market is enough to shake the confidence of Afterpay, <keyword id="1314632" type="COMPANY" weightage="20" keywordseo="zip">Zip</keyword> and their ilk. But it does mark the first of the big tech companies with their eye on the bubbly payment niche, and it won’t be the last. It has been revealed that <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword> is working on its own version, internally known as ‘Apple Pay Later’. The service will see investment bank <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> issue loans as tech companies increasingly look to get involved in financial services. The existing Apple Pay method generates $67 billion a year for the tech company already, as a cut of total transactions. According to <a href="https://www.afr.com/world/north-america/apple-plans-buy-now-pay-later-service-to-rival-afterpay-20210714-p589hf" target="_blank">a Bloomberg report</a>, Apple users would be able to select a four-payment interest-free option or a longer-term monthly instalment option, with an unknown interest rate attached. Valued at $US2.43 trillion, the tech giant would be able to roll out its offering to around one in two Australians instantly. Following the news, the share price of Afterpay and Zip both fell by around 9%. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-raises-4197-crore-from-186-anchor-investors-oversubscribed-by-35-times/articleshow/84399035.cms">Zomato raises ₹4,197 crore from 186 anchor investors, oversubscribed by 35 times</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-completes-takeover-of-mumbai-international-airport/articleshow/84398438.cms">Now, one in four air travellers in India walk through Adani’s airports to catch a flight</a>

PayPal's 'buy now, pay later' service is rolling out in Australia — Apple is reportedly testing its own version, too

Adani Enterprises faces another delay in implementing its $15 billion coal mine project in Australia, amid worries that a port expansion to accommodate the project may hurt the world heritage-listed Great Barrier Reef. 
 
Australian Environment Minister Greg Hunt has extended his review of Adani’s A$16.5 billion ($15.5 billion) Carmichael Coal and Rail Project to August 1, a spokesperson for the minister said. 
 
The project in the untapped Galilee Basin, designed to produce 60 million tonnes of thermal coal a year, has been attacked by green groups who are opposed to both new coal mines and the rail lines and ports needed to ship the coal. 
 
Abbot Point, the port that Adani plans to use, is facing a legal challenge from green groups fighting an expansion that will dredge up three million cubic metres of sand. The sand will be dumped near the Great Barrier Reef. 
 
The government’s move to put off a decision on the project comes just as UNESCO’s World Heritage Committee is due to vote on a proposal for putting the Great Barrier Reef in the ‘endangered’ list. 
 
“Approving (the project) now would have been tantamount to an act of provocation, with UNESCO currently mulling the status of Australia’s greatest natural icon,” said Ben Pearson, Greenpeace programme head.

Adani’s $15 Billion Coal
Project May Harm Great Barrier Reef; Australia Defers Decision Again

<keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> has demanded explanation from the Centre and the State Bank of India (<keyword id="13222" type="CITY" weightage="100" keywordseo="SBI">SBI</keyword>) over the latter’s decision to lend $1 billion to the <keyword id="76451" type="COMPANY" weightage="100" keywordseo="Adani">Adani</keyword> group. It also accused Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> of “taking interest in promoting the Adani group" and demanded that SBI should make disclose the MoU it had signed with the Adani group. 
 
SBI had announced a loan of up to $1 billion to Adani for developing a coal mine during Modi's Australia visit. 
 "What was the propriety of SBI giving loan to Adani, who was sitting next to the Prime Minister during the visit, at a time when five foreign banks have denied credit to the group for the project?" Congress General Secretary <keyword id="50339" type="PERSON" weightage="100" keywordseo="Ajay-Maken">Ajay Maken</keyword> questioned. 
 
"The PM appeared taking keen interest in promoting Adani in getting the loan worth Rs 6,200 crore during the visit in which the SBI chairman was also present. When five top foreign banks have declined to fund Adani's project, what was the need and the sense in giving such a huge loan to him from the hard-earned money deposited by the common people? Did SBI do the due diligence? If it did so why it is not declaring the MoU?” asked Maken. 
 
Adani, however, denied the charges. “There are already a couple of international banks which have funded our acquisition of mines in Australia. I don't think it is for public consumption for us to tell which banks are currently considering the project in different stages of approval. SBI would not certainly be just one bank when it comes to final financial closure of this project and you will see a very impressive list of international banks that are going to fund the project,” it said.

Congress Attacks SBI For $1-billion Loan; Alleges A Nexus Between Modi And
Adani

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Eric Matson/AIMS/HandoutAn Australian Institute Of Marine Science (AIMS) diver inspects large Porites coral on the Great Barrier Reef.</div></div></div>Australia's Great Barrier Reef Marine Park Authority on Friday approved the dumping of up to three million cubic metres (or one million tons) of dredge waste in park waters in a move blasted by environmentalists.
The decision follows the government giving the green light to a major coal port expansion for India's Adani Group on the reef coast in December, under some of the strictest-ever environmental conditions.
It will see Adani dredge three million cubic metres of material from the seabed to allow freighters to dock at the port in Abbot Point, lifting the facility's capacity by 70 percent to make it one of the world's largest coal ports.
Conservationists warned it could hasten the demise of the World Heritage-listed reef, which is already considered to be in "poor" health, with dredging smothering corals and seagrasses and exposing them to poisons and elevated levels of nutrients.
The reef is already facing pressures from climate change, land-based pollution and crown-of-thorns starfish outbreaks.
<div class="KonaFilter image-container display-table float_right"><div><div class="image">AFP File Photo</div></div></div>"This is a sad day for the reef and anyone who cares about its future," said WWF Great Barrier Reef campaigner Richard Leck.
"The World Heritage Committee will take a dim view of this decision, which is in direct contravention of one of its recommendations."
The reef is facing a World Heritage downgrade from UNESCO this year due to concerns about rampant coastal development proposed in the region, particularly port, gas and coal operations. UNESCO are due to meet in June, when they are expected to discuss the issue.
The Great Barrier Reef Marine Park Authority (GBRMPA) chairman Russell Reichelt said he recognised there was intense community concern and debate about the application by North Queensland Bulk Ports Corporation to dispose of dredge spoil in the park.
But he said allowing the project to proceed would help contain development to existing ports, and the reef itself and seagrass meadows would still be protected.
"This approval is in line with the agency's view that port development along the Great Barrier Reef coastline should be limited to existing ports," he said.
"It's important to note the sea floor of the approved disposal area consists of sand, silt and clay and does not contain coral reefs or seagrass beds."
The GBRMPA, whose board is currently under investigation for its links to the mining industry, added that the strict environmental conditions imposed on the project by the federal government would help protect the reef.
The conditions require that sediment entering the marine park be reduced by 150 percent over the long term -- a "net benefit" to water quality -- and that $81 million be contributed to reef conservation programmes and specific measures observed to protect marine flora and fauna.
WWF Australia has said the material dredged during the port expansion would be enough to fill 150,000 dump trucks that "lined up bumper-to-bumper would stretch from Brisbane to Melbourne", a distance of more than 1,000 kilometres (620 miles).
<div class="nc_footer">
Copyright (2014) AFP. All rights reserved.
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Australia To Dump 1 Million Tons Of Waste Onto Great Barrier Reef To Make Room For Coal Port

US-based biotechnology company <keyword id="323030" type="COMPANY" weightage="20" keywordseo="Novavax">Novavax</keyword>'s protein-based vaccine has shown overall 90 per cent efficacy against Covid-19, results of Phase-3 trials have shown. The vaccine NVX-CoV2373 is already being locally manufactured by the company's <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> partner Pune-based <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII) under the brand name Covovax. In the US-based Phase-3 trials, NVX-CoV2373 also demonstrated 100 per cent protection against moderate and severe disease. "Today, Novavax is one step closer to addressing the critical and persistent global public health need for additional Covid-19 vaccines. These clinical results reinforce that NVX-CoV2373 is extremely effective and offers complete protection against both moderate and severe Covid-19 infection," said Stanley C Erck, President and Chief Executive Officer, Novavax, in a statement. "Novavax continues to work with a sense of urgency to complete our regulatory submissions and deliver this vaccine, built on a well understood and proven platform, to a world that is still in great need of vaccines," Erck added. In August 2020, Novavax and SII announced an agreement under which the US biotechnology company had given SII the licence to manufacture and supply the vaccine in low- and middle-income countries. In March 2021, CEO <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> said Covovax will be launched by September this year. "Covovax trials finally begin in India; the vaccine is made through a partnership with Novavax and Serum Institute of India," said Adar Poonawalla. "Hope to launch by September 2021!" the CEO of the world's biggest Covid-19 vaccine maker said. The US-based Phase-3 trials began in December 2020 and enrolled 29,960 participants across 119 sites in the US and Mexico to evaluate efficacy, safety and immunogenicity, with an emphasis on recruiting a representative population of communities and demographic groups most impacted by the disease. The study "confirms that NVX-CoV2373 offers a reassuring tolerability and safety profile", said Gregory M Glenn, MD, President of Research and Development, Novavax. The company will file for regulatory authorisations in the third quarter. After receiving the approvals, Novavax will reach a manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the fourth quarter of 2021, the statement said. NVX-CoV2373 was created using Novavax' recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is formulated with Matrix-M adjuvant to enhance the immune response and stimulate high levels of neutralising antibodies. It contains purified protein antigen and can neither replicate, nor can it cause Covid-19. The vaccine can be stored at 2 to 8 degrees Celsius, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials. The two-shot vaccine is also being evaluated in Phase 3 trials in the UK that demonstrated efficacy of 96.4 per cent against the original virus strain, 86.3 per cent against the B117 (Alpha) variant and 89.7 per cent overall. It is also being tested in two ongoing Phase 2 studies that began in August 2020: A Phase 2b trial in South Africa that demonstrated 55 per cent efficacy overall in HIV-negative participants and 48.6 per cent efficacy against the B1351 (Beta) variant, and a Phase 1/2 study in the US and Australia. The company is also conducting trials in adolescents between ages 12 and 18. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-pnb-coal-india-tcs-and-other-stocks-to-watch-out-for-on-june-14/slidelist/83499937.cms">Adani group, PNB, Coal India, TCS and other stocks to watch out for on June 14</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/cryptocurrency/news/weekly-crypto-roundup-wazirx-under-scrutiny-el-salvador-makes-bitcoin-legal-tender-and-more/slidelist/83478577.cms">Weekly crypto roundup: WazirX under scrutiny, El Salvador makes Bitcoin legal tender and more</a>

US-based biotechnology company Novavax’s COVID-19 shot is 90% effective

New Delhi, There has been a substantial increase in <keyword id="914185" type="PERSON" weightage="20" keywordseo="social-media-profiles">social media profiles</keyword> by <keyword id="25903" type="ORGANIZATION" weightage="20" keywordseo="Indians">Indians</keyword> who hide their <keyword id="1307668" type="PERSON" weightage="20" keywordseo="real-names">real names</keyword>, photos and personally identifiable information (PII), in order to not only harness free speech but also conduct malicious and harmful activities, a new report warned on Saturday. The platform is used the most by Indian users who want to keep their <keyword id="10420845" type="UNKNOWN" weightage="20" keywordseo="identities-anonymous">identities anonymous</keyword> are Facebook (76%), YouTube (60%), <keyword id="819905" type="LOCATION" weightage="20" keywordseo="Instagram">Instagram</keyword> (47%), and Twitter (28%), according to the data provided by a global cybersecurity company Kaspersky. While it may be frowned upon at first glance, the use of "nameless and faceless profiles" is two-pronged. "The results unmasked how this reality allow individuals to chase their passions and to harness free speech but at the same time to conduct malicious and harmful activities". "From the initial purpose of finding and connecting with friends and families, social media has evolved and will continue to evolve in unprecedented ways," said Dipesh Kaura, General Manager for South Asia, Kaspersky. "It has played a key role on how we socialise and identify with each other, but now, we have arrived at a fork in the road where virtual profiles of both individuals and companies are being used as a parameter for judgment," Kaura said in a statement. Almost three in 10 users in Asia Pacific (APAC) admitted to having a social media profile without their real identities. Conducted in November with 1,240 respondents from the region, the "<keyword id="2820782" type="PERSON" weightage="20" keywordseo="digital-reputation">Digital Reputation</keyword>" research showed that the power of anonymity is being used the most in Southeast Asia at 35 %, followed by India at 28% and Australia at 20%. More than half (59%) of those surveyed stated that they use anonymous accounts to exercise their freedom of speech without affecting their reputation, while 53% wanted to indulge in their secret interests that they were not too keen on having their friends find out about. The consumers in the APAC region are increasingly becoming aware of the reputation they are building online and its importance to their real lives. "On this basis, it is not surprising that 49% of the respondents will check the social media accounts of a brand or a company before purchasing their goods or services," the report stated. "The consumers now hold companies accountable for their online reputation, in the same way that individuals' behaviour on social media is now being used to determine one's credit score, to screen one's employability, and even to either reject or approve one's Visa request," Kaura elaborated. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

More Indians now hiding real identities on Facebook, YouTube

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Indranil Aditya/NurPhoto via Getty ImagesJio, the telecom company that belongs to India's richest man, has quickly become one of the country's biggest mobile carriers.</div></div></div><ul class="summary-list"><li>Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People.</a></li><li><a href="https://www.forbes.com/sites/naazneenkarmali/2019/10/10/indias-richest-2019-fortune-favors-a-few-as-growth-slows/#6e4539cc6567">More than half of the country's richest people lost money</a> in 2019 as economic growth slowed.</li><li>India's richest man, on the other hand, <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani,</a> added $4.1 billion to his fortune.</li><li>The 62-year-old chairman of oil-gas-telecom conglomerate Reliance Industries is <a href="https://www.forbes.com/profile/mukesh-ambani/?list=india-billionaires#5eb70d41214c">worth an estimated $52.7 billion.</a></li><li>The automobile and consumer goods industries suffered, but Ambani's wealth has grown this past year largely thanks to his three-year-old telecom company, Jio, which now has 340 million subscribers, according to Forbes.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>India's economic growth has slowed, and the country's richest people haven't been spared the effects. Forbes released its 2019 ranking of <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">India's 100 Richest People,</a> and it showed that <a href="https://www.forbes.com/sites/naazneenkarmali/2019/10/10/indias-richest-2019-fortune-favors-a-few-as-growth-slows/#6e4539cc6567">more than half of India's richest people lost money in 2019.</a>"Under the Narendra Modi-led government, which returned to power for a second term with a thumping majority in May, economic growth slowed to 5%, a six-year low," Naazneen Karmali wrote for Forbes.According to Karmali, the automobile and consumer goods industries were hit particularly hard, with layoffs and production cuts. Fourteen of India's richest lost at least $1 billion, and nine of last year's richest didn't make this year's list. The country's richest man, however, got even richer despite the economic turmoil. Mukesh Ambani, who runs the oil-gas-telecom conglomerate Reliance Industries, added $4.1 billion to his net worth.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Amit DaveMukesh Ambani is the head of Reliance Industries, one of India's most valuable companies.</div></div></div>The 62-year-old is now <a href="https://www.forbes.com/profile/mukesh-ambani/?list=india-billionaires#3f0d2f2b214c">worth an estimated $52.7 billion</a>, making him the <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">15th-richest person in the world.</a> Ambani has now been India's richest man for 12 years in a row. The Ambani family is known for <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">living in a lavish, 27-story skyscraper in Mumbai</a> that cost an estimated $1 billion to build. The weddings of two of Ambani's children, in December 2018 and March 2019, were attended by the likes of Google CEO Sundar Pichai, Hillary Clinton, actress Priyanka Chopra, and Bollywood star Shah Rukh Khan.Read more: <a href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani is India's richest man for the 12th year in a row. Meet the Ambanis, Asia's wealthiest family, who live in a $1 billion skyscraper and mingle with royals and Bollywood stars.</a>The next-richest Indian, <a href="https://www.forbes.com/profile/gautam-adani/?list=india-billionaires#396ba11b1608">Gautam Adani, is worth an estimated $15.7 billion.</a> That may be a whopping $37 billion less than Ambani, but Adani rose eight spots in the past year to become the second-richest man in India. The infrastructure and coal mining billionaire got approval in 2019 to start work on a coal mine in Australia after waiting nine years, according to Forbes. Adani also controls India's largest port, Mundra Port.While most Indian billionaires - with exceptions such as Ambani and Adani - lost money in the past year, <a href="https://www.businessinsider.com/french-billionaires-money-luxury-goods-demand-china-arnault-pinault-2019-7">billionaires in France made more money than their counterparts</a> anywhere else in the world, as Taylor Nicole Rogers reported for Business Insider.The personal fortunes of French billionaires <a href="https://www.bloomberg.com/news/articles/2019-07-01/france-s-richest-people-get-richer-faster-than-everyone-else">grew more than twice as fast</a> as those of American and Chinese billionaires in the first half of 2019, Bloomberg's Alexander Sazonov reported in July, mainly thanks to China's growing desire for luxury goods. Take <a href="https://www.businessinsider.com/who-is-bernard-arnault-richest-person-in-europe-lvmh-life-photos-2019-1">Bernard Arnault, France's richest person</a> and the third-richest in the world, who runs LVMH, the world's largest maker of luxury goods. Last week, Arnault made $5.1 billion in less than 48 hours - and <a href="https://www.businessinsider.com/lvmh-ceo-bernard-arnault-massive-fortune-growing-billionaire-2019-7#3-arnault-is-officially-one-of-only-six-people-to-ever-rank-no-2-on-forbes-list-of-the-richest-billionaires-3">he's now made more money in 2019</a> than any other person listed in the Bloomberg Billionaires Index. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-is-impeachment-process-president-congress-constitution-2017-2">Columbia Law School professor explains exactly how impeachment works, and what it takes for a president to be impeached</a></h3> <div> </div> </div>

You Searched For "Australia approval to Adani" and got 11 results

Australia allows India's Adani Group to start construction at the Carmichael mine

BI India Bureau

George Soros wades into Adani-Hindengburg row, says PM Modi "silent"; BJP hits back

ANI

Adani Group's Bravus Mining and Resources strikes coal at Australia's Charmichael project in Queensland

IANS

Adani's $21.7 billion coal mine project in Australia is targeted by a "foreign funded” groups

BI India Bureau

PayPal's 'buy now, pay later' service is rolling out in Australia — Apple is reportedly testing its own version, too

Business Insider

Adani’s $15 Billion Coal Project May Harm Great Barrier Reef; Australia Defers Decision Again

BI India Bureau

Congress Attacks SBI For $1-billion Loan; Alleges A Nexus Between Modi And Adani

Australia To Dump 1 Million Tons Of Waste Onto Great Barrier Reef To Make Room For Coal Port

Agence France Presse

US-based biotechnology company Novavax’s COVID-19 shot is 90% effective

IANS

More Indians now hiding real identities on Facebook, YouTube

IANS

More than half of India's 100 richest people lost money in the past year, but the country's richest man got $4 billion richer.

Katie Warren

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