Brisbane picked to host 2032 Olympics without a rival bid: IOC

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Brisbane was picked Wednesday to host the 2032 Olympics, the inevitable winner of a one-city race steered by the IOC to avoid rival bids.


The Games will go back to Australia 32 years after the popular 2000 Sydney Olympics. Melbourne hosted in 1956.


“We know what it takes to deliver a successful Games in Australia,” Prime Minister Scott Morrison told International Olympic Committee voters in an 11-minute live video link from his office.


Brisbane follows 2028 host Los Angeles in getting 11 years to prepare for hosting the Games. Paris will host in 2024.


The 2032 deal for the Australian east coast city looked done even months before the formal decision by IOC members at their meeting ahead of the Tokyo Games, which open Friday.


The IOC gave Brisbane exclusive negotiating rights in February. That decision left Olympic officials in Qatar, Hungary Germany looking blindsided with their own stalled bidding plans.


Brisbane was the first winner in a new bidding format. It lets the IOC approach potential candidates pick them uncontested before the previously mandated seven-year advance mandated other in Olympic contests.


The streamlined process was designed to cut campaign costs, give the IOC more control remove the risk of vote-buying.


Olympic events will be staged across the state of Queensland, including in Gold Coast, which hosted the 2018 Commonwealth Games.

(Only the headline picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Central govt issues order to implement DA, DR benefit for employees, pensioners from 1st july

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The Ministry of Finance has issued order to implement cabinet decision to implement the revised Dearness Allowance (DA) Dearness Relief (DR) benefit for the central government employees pensioners respectively from 1st July 2021. The decision has come as big relief to around 1.12 crore central government employees pensioners, whose DA DR benefit was frozen from 1st January 2020 to 30 June 2021. The Department of Expenditure at the Ministry of Finance issued an Office Memorandum (OM) in this regard on Tuesday i.e. 20th July 2021. The OM said that the DA hike announced for 1st January 2020 (4%), 1st July 2020 (3%) 1st January 2021 (4%) will be subsumed in the revised DA. So, the new DA rate applicable from 1st July 2021 to central government employees will be 28 per cent of their monthly basic salary — leading to rise of 11 per cent from their current DA rate of 17 per cent.

Issuing order to implement revised rates of DA to central government employees the Ministry of Finance’s OM said, “The undersigned is directed to refer to the Ministry’s Office Memorandum No. 1/1/2020-E-II (B) dated 23.04.2020 vide which instalments of Dearness Allowance to Central Government employees due from 01.01.2020, 01.07.2020 01.01.2021 , were frozen to say that the President is pleased to decide that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 17% top 28% of the basic pay with effect from 1st July 2021.” The Om issued by the Department of Expenditure at the Ministry of Finance further added that the increase subsumes the additional instalments arising on 01.01.2020, 01.07.2020 01.01.2021.

However, the Finance Ministry’s order made it clear that DA for the period of 1st January 2020 to 30th June 2021 will remain 17 per cent that means no DA DR arrears will be given to the central government employees pensioners.

These orders shall also apply to the civilian employees paid from the Defence Services Estimates. But, for Armed Forces personnel Railway employees, a separate order will be issued by the Ministry of Defense Ministry of Railways.

In April 2020, the Ministry of Finance had put DA hike on hold till 30th June 2021, due to the COVID-19 pandemic. The rate of DA from 1st January 2020 to 30th June 2021 was 17 per cent.

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Russia unveils new ‘Checkmate’ stealth fighter jet at air show

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Russian President Vladimir Putin inspected the country’s newly unveiled “Checkmate” warplane on Tuesday.

The prototype of the Sukhoi fifth-generation stealth fighter was revealed at the MAKS-2021 International Aviation Space Salon, Reuters reported. The show opened Tuesday in Zhukovsky, outside Moscow.

Fifth-generation refers to the jet’s stealth characteristics, a capability to cruise at supersonic speed as well as artificial intelligence to assist the pilots, among other advanced features.

“What we saw in Zhukovsky today demonstrates that the Russian aviation has a big potential for development our aircraft making industries continue to create new competitive aircraft designs,” Putin said in a speech at the show.

The jet was designed to reduce service costs. “Our aim is to make the cost per flight hour as low as possible, to make it economical not only to buy but also to operate,” Yury Slyusar, Russia’s United Aircraft Corporation head, said, according to Reuters. 

A prototype of Russia’s prospective fighter jet is displayed at the MAKS-2021 International Aviation Space Salon in Zhukovsky outside Zhukovsky, Russia, Tuesday, July 20, 2021. Russia has presented a prototype of a new fighter jet that features stealth capabilities other advanced characteristics will be offered to foreign customers. Russian President Vladimir Putin inspected the new warplane displayed at the MAKS-2021 International Aviation Space Salon. (AP Photo/Alexander Zemlianichenko, Pool)

RUSSIA WARNS US OVER HYPERSONIC MISSILES IN EUROPE, COULD LEAD TO ‘INADVERTENT CONFLICT

It is expected to be airworthy by 2023 the country plans to produce 300 of the fighters over 15 years starting in 2026, according to Reuters. 

Oleg Panteleyev, head of the Russian Aviaport analytical agency, said the fighter jet could be a rival to the U.S. F-35 stealth fighter.

“We must join other nations that sell such aircraft,” Industries Trade Minister Denis Manturov said after mentioning other similar foreign jets.

The jet’s price tag will be between $25 million to $30 million, Rostec, the state-owned aerospace conglomerate, said, adding it expected buyers from the Middle East, Asia Latin America, according to Reuters. 

Rostec said the Russian air force is also expected to place an order for the new fighter.

The designers said the new design could be converted to an unpiloted version a two-seat model.

The prospective warplane, marketed under the project name Checkmate, has one engine is designed to be smaller cheaper than Russia’s latest Su-57 two-engine stealth fighter, also built by Sukhoi. It can fly at a speed of 1.8-2 times the speed of sound, has a range of 3,000 kilometers (1,864 miles) a payload of 7,400 kilograms (16,300 pounds), the jet’s makers said.

The sales of warplanes have accounted for the bulk of Russian weapons exports, but the two-engine Su-30 Su-35 fighters have faced growing competition in global markets.

Rostec ran an aggressive advertising campaign in the days before the air show, publishing a picture of the new fighter hidden under a black tarpaulin with “Wanna see me naked?” written under it. It also posted a video featuring adulatory customers from India, the United Arab Emirates, Argentina, Vietnam other countries, reflecting export hopes.

The Kremlin has made modernization of the country’s arsenals a key priority amid tensions with the West that followed Moscow’s 2014 annexation of Ukraine’s Crimean Peninsula.

The unveiling comes a day after Russia warned Washington not to deploy hypersonic missiles in Europe.

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“We would like to remind @PentagonPressSec that potential deployment of any [American flag] hypersonic [missile] in Europe would be extremely destabilizing,” the ministry of defense tweeted. “Their short flight time would leave [Russian flag] little to no decision time raise the likelihood of inadvertent conflict.”

The Associated Press contributed to this report.

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IBM signs 10-year partnership deal with Bangalore International Airport

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IBM Bangalore International Airport Limited (BIAL), which operates Kempegowda International Airport, Bengaluru (KIAB/BLR Airport), today announced a 10-year partnership under which IBM Kyndryl will provide IT solutions to create a new “Airport in a Box” platform that will support transforming the end-to-end travel experience for passengers at BLR Airport. The financial details of the deals were not disclosed.


As one of the world’s fastest-growing airports, BLR Airport needed a nimble, scalable cost-competitive technology operations environment that can boost its agility operational flexibility to handle future growth in passenger traffic.





Once the platform is fully operational, IBM BIAL plan to explore opportunities to advance the “Airport in a Box” platform as a cornerstone of innovation transformation for the global travel transportation industry.


“We are excited about partnering with IBM as part of our vision to make BLR a Smart Airport–a digitalised, seamlessly connected, intuitive airport,” said Hari Marar, MD & CEO, BIAL. “Our aim is to introduce more digitally advanced, innovative services products at BIAL to ensure that the passengers partners have the advantage of future forward technologies, in a seamless operating environment.”


To achieve this goal, BIAL has selected IBM Global Business Services, IBM hybrid cloud capabilities Kyndryl, the new, independent company that will be created following the separation of IBM’s Managed Infrastructure Services business, to design implement a next generation architecture with robust dynamic delivery model.


The platform IBM is developing to support BIAL’s business growth will be enabled by a comprehensive set of IBM technology services, enabled by an open hybrid cloud approach from IBM supported Red Hat Ansible Automation. The platform also will generate AI-powered insights from IBM Maximo enterprise asset management technology to optimize inventory management total cost of ownership.


IBM BIAL will work to ensure that the platform supports BIAL’s commitment to sustainability the community at large. BIAL recently achieved its goal of net energy neutral status in the financial year 2020-21, consuming energy from renewable sources.


“This long-term project capitalises on our proven ability to deliver a combination of advanced technologies services that enable the world’s leading travel transportation companies to innovate transform their businesses,” said Mark Foster, Senior Vice President, IBM Services IBM Global Business Services.


“We are proud to partner with BIAL in its digital transformation journey. BIAL has been a pioneer in adoption of cutting-edge technology for delivering enhanced value to its passengers & cargo partners,” said Sandip Patel, Managing Director, IBM India. “With IBM Kyndryl as the strategic partners, BIAL will be able to leverage the robust integration of best-in-class cloud & AI enabled solutions with deep industry & technology expertise.”


IBM works with more than 150 airports globally.

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Property consultant Colliers appoints Ramesh Nair as CEO for India

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Property consultant Colliers on Wednesday said it has appointed Ramesh Nair as the chief executive officer (CEO) for India managing director, market development, for Asia.


Nair joined Colliers from JLL India, where he held the position of CEO & country head, leading over 12,000 people. Based in Mumbai, Ramesh will partner with Sankey Prasad, chairman & managing director of Colliers in India, to lead the business.





“We are delighted to have Ramesh join us to lead accelerate the success of our clients our people in one of the largest most dynamic economies in the world. His experience leadership skills will be particularly relevant to our clients in the region around the world as they seek opportunities in the post-Covid economy,” said John Kenny, CEO, Asia Pacific.


Prasad added, “I welcome Ramesh to the Colliers team look forward to collaborating with him to drive exceptional results for our clients. The Colliers business in India has grown significantly in the last few years, we have accelerated our growth plans in this exciting economy. Our unparalleled focus on providing outstanding client outcomes remains at the forefront of our success. When powered with Ramesh’s enterprising approach, Colliers is set to lead the industry into the future.”


“I was attracted by Colliers’ reputation as the fastest growing real estate services firm in India. I am impressed by Colliers’ strategic acquisitions including India’s leading project management firm Synergy thrilled to be a part of this growth story,” said Nair. “Colliers’ decentralised operating model, enterprising culture, service excellence mindset global brmake me excited about what we can achieve for our clients in India Asia,” he said.

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Business Standard has always strived hard to provide up-to-date information commentary on developments that are of interest to you have wider political economic implications for the country the world. Your encouragement constant feedback on how to improve our offering have only made our resolve commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed updated with credible news, authoritative views incisive commentary on topical issues of relevance.

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