IPL final shifted for bigger stadium, not ticket issue: Shivakumar
Bengaluru (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Wednesday rubbished allegations that the IPL final venue was shifted from Bengaluru to Ahmedabad due to the distribution of tickets to MLAs.
Speaking to reporters, Shivakumar said the reason for the shift could be the availability of a larger stadium in Ahmedabad.
“Ahmedabad has a large stadium and can accommodate more spectators. That must be the reason the IPL final was shifted there. There is no connection between ticket distribution to MLAs and the venue change,” he said.
When asked about reports linking the venue shift to MLAs demanding tickets, he quipped, “In some places, 50 per cent of tickets are reserved.”
When reporters said the BCCI had indicated that the decision was linked to ticket issues, he responded, “Let them make such statements. I will respond appropriately.”
Bengaluru was originally expected to host the final as the Royal Challengers Bengaluru were the defending champions.
Ahmedabad will host the IPL final for a second successive season on May 31, the BCCI announced earlier in the day, while allotting Qualifier 1 to Dharamsala and two other playoff games to New Chandigarh.
The board, however, said the final venue was shifted “owing to certain requirements from the local association and authorities that were beyond the scope of BCCI’s established guidelines and protocols.”
Shivakumar declined to comment on the revocation of the suspension of Muslim leaders in Davanagere, saying it was a party decision.
Regarding the removal of MLC Naseer Ahmed as CM Siddaramaiah’s political secretary, he said the chief minister had already spoken on the matter.
“The CM has his own information. Party office-bearers have provided guidance. He was given certain responsibilities, which he did not handle properly, which is why he was removed,” Shivakumar said.
On MLC Abdul Jabbar, who resigned as the state Congress minority cell chief and was later expelled from the party, he said Jabbar had submitted his resignation, which the party accepted.
The Congress in Karnataka faced internal dissent in April when several Muslim leaders objected to the party fielding Samarth Shamanur as its candidate for the recently held Davanagere South Assembly bypoll.
They demanded that a Muslim candidate be fielded, citing the constituency’s substantial Muslim population. The party subsequently took disciplinary action against three leaders, including Jabbar and MLC Ahmed.
When asked about his and the CM’s visit to Delhi, he said, “We will go when the high command calls us. It is not appropriate to go without being called.”
On Congress supporting TVK in Tamil Nadu, Shivakumar said the decision was taken to keep the "BJP out of power and strengthen secular forces." Elections to the 234 Assembly constituencies were held on April 23, and the results were announced on May 4.
The Congress party, a long-time ally of the DMK, announced its support for TVK to form a government in Tamil Nadu and severed ties with the Dravidian major.
The incumbent DMK was trounced by the fledgling Tamilaga Vettri Kazhagam, led by Vijay, who secured 108 seats. “Despite pressure from the AIADMK and BJP, TVK did not align with them. Our party has taken this decision in the interest of secular forces and the welfare of Tamil Nadu,” Shivakumar said.
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Rupee hits record low of 96.14/USD, settles at fresh closing low of 95.86/USD
Mumbai (PTI): The Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.86 (provisional) against the US dollar as elevated crude oil prices and inflation concerns added to the downside pressure on the rupee.
Rupee has registered over 6 per cent losses so far this year, and in the past six trading sessions, it has depreciated nearly 2 per cent as Iran war risk escalation pushed crude oil prices higher. The dollar index moved northwards after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts.
Forex traders said global uncertainties, relatively high valuations, and the lack of AI-led investment opportunities have weighed on capital flows.
Moreover, weak net FDI inflows are likely to exert pressure on the balance of payments, while rising crude oil prices stoke inflation worries.
At the interbank foreign exchange, the rupee opened at 95.86, then slumped to a record low of 96.14 in intraday trade, registering a fall of 50 paise from its previous close.
The USD/INR pair finally settled at 95.86 (provisional) against the US dollar, registering a fall of 22 paise from its previous close, helped by likely RBI intervention.
On Thursday, the rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
Brent crude, the global oil benchmark, was trading up 3.14 per cent at USD 109.04 per barrel in futures trade.
On the domestic equity market front, Sensex fell 160.73 points to settle at 75,237.99, while Nifty declined 46.10 points to 23,643.50.
Foreign Institutional Investors turned net buyers, purchasing equities worth Rs 187.46 crore on Thursday, according to exchange data.
Meanwhile, the country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday.
Imports grew 10 per cent year-on-year to USD 71.94 billion in April. The trade deficit during the month stood at USD 28.38 billion.
"We expect the rupee to trade with a negative bias on elevated crude oil prices and inflation concerns. Strong dollar and FII outflows may also weigh on the rupee. However, any intervention by the RBI and hiking of import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.60 to 96.20," said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.
Chinese President Xi Jinping and his US counterpart Donald Trump on Friday hailed their talks as "historic" and "landmark", as the American leader wrapped up his three-day visit on a high note, but no deals on any contentious issues were announced.
Both Presidents, who held several rounds of talks covering a range of global issues, including the Iran war and bilateral trade frictions, concluded their discussions with a private meeting at Zhongnanhai, the well-guarded compound in Beijing where top leaders reside.
