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STF arrests two businessmen with illegal arms

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Two businessmen were arrested from Strand Road on Monday night by a team of officers of the Special Task Force (STF) of Kolkata police in connection with possession of unlicensed firearms.

Acting on a specific tip-off, officers of the STF laid a decoy while conducting raids and arrested two businessmen –Sujato Goswami and Md Shahid. They were later interrogated thoroughly and eight one-shoter guns and a bike was seized from them.

Lalbazar sources said the duo were both residents of Serampore Hooghly.

An STF officer said investigation was on to elicit information from them concerning whom they were going to deliver the arms to and from where the consignments were received. Both were charged with sections under Arms Act.

Meanwhile, in another raid based on a tip-off, a team of officers had conducted raids at a residence of another businessman Md Yasin at Elliot Road at Park Street and confiscated cash worth Rs 1.50cr from his residence.

Besides, police sources said gold jewellery , two laptops and a mobile were seized from the residence.The owner of the house was however, not present at the time the raid was being conducted. Sources said that the family member of the busineesman, when confronted by the officers could not show any valid documents nor could they shed light on the source of the “unaccounted money”.

Police have launched a probe and are on the lookout for the businessman.

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Airtel, Nokia sign three-year deal for 5G network in Kenya

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Bharti Airtel’s Africa arm and Finnish telecoms gear maker Nokia on Monday announced a deal to modernise network in Nairobi with high-speed 4G, and deploy 5G-ready equipment. It will also lay base for migration towards the 5G mobile broadband technology.

As per the three-year deal, the deployment of 4G and 5G-ready network started in June and will cover hundreds of sites. It will include upgrading existing 2G, 3G and 4G radio access network (RAN) coverage in urban, semi-urban, highways, tourist spots and central business districts in Nairobi and the rest of Kenya.

“Nokia’s network infrastructure will also offer Airtel Kenya the option to smoothly transition to 5G when necessary. The upgraded network will deliver enhanced connectivity to customers of Airtel Kenya and access to new, high-speed data services,” Nokia said in a statement.

“We are in the midst of rolling out our network to enhance coverage along with modernisation of our data network that will help us deliver improved, high-speed data services to our customers,” said Airtel Kenya CEO P D Sarma.

He added that this will allow customers seamless coverage enhancing their browsing experience further.

Under the contract, Nokia is supplying Airtel Kenya telecom gears for both indoor and outdoor coverage, including base stations and radio access products.

The improved network will provide higher data speeds using additional 4G spectrum bands and provide access to secure, high-speed and reliable data services, the statement said.

Nokia Head of CEWA Market Unit Rajiv Aggarwal said, “This is an exciting deal in an exciting market. We are proud to supply Airtel Kenya with our comprehensive AirScale portfolio and support the operator with its efforts to deliver the best possible connectivity experiences to end users in Kenya.”

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‘Economy likely to enter into technical recession for first time in history’: RBI

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In yet another setback for the struggling Indian economy, the Reserve Bank of India has projected that the economy is likely to enter into a technical recession for the first time in history at the end of the first half of 2020-21.

India has already witnessed a worrying decline of 23.9 per cent in the GDP for April-June quarter which was a result of nationwide lockdown induced due to the coronavirus pandemic.

However, before the pandemic too, the World Bank had projected India’s economy to grow a mere 4.5 per cent.

The RBI also said that the NSO estimates for the second quarter expected at the end of November 2020 will formally bear out the extent of improvement that occurred in the quarter gone by.

This decline in economy is an eyebrow-raiser for the nation as in the economic terms, when the GDP growth rate is negative for two consecutive quarters or more, it is termed recession.

Perhaps, the Reserve Bank has said that the economy will break out of contraction of the six months gone by and return to positive growth in the October-December quarter of 2020-21.

“With the momentum of September having been sustained, there is optimism that the revival of economic activity is stronger than the mere satiation of pent-up demand released by unlocks and the rebuilding of inventories. If this upturn is sustained in the ensuing two months, there is a strong likelihood that the Indian economy will break out of contraction of the six months gone by and return to positive growth in the third quarter (Q3) of 2020-21,” it said.

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Bezos sells more than $3 billion of Amazon shares

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Amazon Founder and CEO Jeff Bezos this week has sold more than $3 billion worth of shares in his company, according to new filings with the US Securities and Exchange Commission (SEC).

This marks a significant jump from last year when Bezos sold $2.8 billion worth of shares, CNBC reported on Wednesday.

According to Forbes, Bezos now owns a 10.6 per cent stake in the e-commerce and cloud computing colossus Amazon.

This is the third time this year that the world’s richest person has sold Amazon shares worth billions of dollars. In August, he had sold Amazon shares worth $3.1 billion. Prior to that, he had offloaded shares worth $4.1 billion in February earlier this year.

The latest stock sales are part of a predetermined plan in accordance with insider trading laws, according to the filings with the SEC.

According to a Forbes report on Wednesday, the Amazon CEO remains the world’s richest person with an estimated net worth of $189.6 billion.

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