TOLL EXPECTED TO RISE
![Wayanad landslide: Kerala govt announces 2-day mourning; death toll rises](https://img.etimg.com/thumb/msid-112137197,width-100,height-75,resizemode-4/news/india/wayanad-landslide-kerala-govt-announces-2-day-mourning-death-toll-rises.jpg)
Wayanad landslide: Kerala govt announces 2-day mourning; death toll rises
The Kerala government declared two days of mourning following a landslide in Wayanad that resulted in 84 fatalities and 116 injuries. Multiple agencies, including the Indian Army and Navy, have been deployed for rescue operations. State ministers have arrived on-site, and heavy rainfall alerts remain active in several districts.
![Kerala landslides: Death toll rises to 158; CM Vijayan holds review meeting, to visit Wayanad tomorrow](https://img.etimg.com/thumb/msid-112153159,width-100,height-75,resizemode-4/news/india/death-toll-climbs-to-143-in-wayanad-landslide-tragedy-rescue-operation-underway.jpg)
Kerala landslides: Death toll rises to 158; CM Vijayan holds review meeting, to visit Wayanad tomorrow
Kerala Chief Minister Pinarayi Vijayan convened a review meeting on rescue efforts in Wayanad after the landslides that claimed 158 lives. Rescue and relief teams including the Army and Navy are actively engaging in operations. He will also attend an all-party meeting to address the measures being taken. Relief camps are housing over 3000 people.
![Budgetary allocation continuously increasing for infra sector: Anil Yadav, IRB Infrastructure](https://img.etimg.com/thumb/msid-111656106,width-100,height-75,resizemode-4/markets/expert-view/budgetary-allocation-continuously-increasing-for-infra-sector-anil-yadav-irb-infrastructure.jpg)
Budgetary allocation continuously increasing for infra sector: Anil Yadav, IRB Infrastructure
One of such projects is expected to complete end of this financial year. But we do not expect any further increase in any of the project because the tariff revision is annual.
![Polls and weather take a toll on smartphone sales in June quarter](https://img.etimg.com/thumb/msid-111212130,width-100,height-75,resizemode-4/industry/cons-products/electronics/polls-and-weather-take-a-toll-on-smartphone-sales-in-june-quarter.jpg)
Polls and weather take a toll on smartphone sales in June quarter
The smartphone market in the June quarter is likely to be tepid due to the impact of elections, heatwaves, and floods, leading some market experts to lower their growth outlook for 2024 smartphone shipments. Analysts expect a slowdown in Q2 shipments compared to Q1 due to fewer launches and adverse weather conditions. Counterpoint Research forecasts a 3-5% decline in Q2 shipments, with a revised annual forecast of 152 million units, reflecting a 3% year-on-year growth, down from the initial 5% growth prediction.
![68 Indians among 900 Hajj pilgrims who have lost their lives in Mecca, says Saudi diplomat](https://img.etimg.com/thumb/msid-111120365,width-100,height-75,resizemode-4/news/international/saudi-arabia/loved-ones-search-for-missing-as-hajj-death-toll-passes-900.jpg)
68 Indians among 900 Hajj pilgrims who have lost their lives in Mecca, says Saudi diplomat
Friends and family are searching for missing hajj pilgrims as the death toll from this year's pilgrimage, carried out in extreme heat, has risen to over 900. The scorching temperatures, reaching 51.8 degrees Celsius (125 Fahrenheit) in Mecca, have raised concerns for the well-being of the 1.8 million participants, many of whom are elderly or infirm. The majority of the deaths are reportedly due to heat-related causes, with Egyptians accounting for a significant portion of the casualties.
![Rising vegetable prices strain household budgets across India: Survey](https://img.etimg.com/thumb/msid-111092175,width-100,height-75,resizemode-4/news/economy/indicators/survey-shows-rising-vegetable-prices-strain-household-budgets-across-india.jpg)
Rising vegetable prices strain household budgets across India: Survey
A survey by LocalCircles highlighted significant consumer concerns over rising prices of essential vegetables—onion, potato, and tomato. It found that 16% of households are cutting consumption or feeling financial strain due to these price hikes, with another 31% anticipating impact if prices exceed INR 50 per kg. Currently, 2 in 3 households are paying above-average prices: Rs 25/kg or more for tomatoes, Rs 30/kg or more for potatoes, and Rs 35/kg or more for onions.
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Chinese EVs to be hit with multi-billion-euro tariffs at European Union toll gates
The European Union plans to increase tariffs on Chinese electric vehicles to 25%, despite German warnings of a trade war. France and Spain support the move to protect European manufacturers and generate revenue. Currently, the EU imposes a 10% duty on Chinese EVs, while China taxes European imports at 15%. This decision follows the U.S. raising duties on Chinese EVs to 100% and will see BYD, Geely, and Tesla, which export from China to Europe, hurt in the process.
Rising heat cools mfg PMI to 3-mth low as input costs bite
Manufacturing activity decreased to 57.5 in May from 58.8 in the previous month due to heatwaves and rising costs, as per a private survey by HSBC. The sector saw a softer rise in new orders and output, impacting work hours and production volumes for manufacturing firms.
Govt imposing more burden on people: CPI(M) on hike in milk prices, highway toll
The CPI(M) on Monday condemned the hike in milk prices and highway toll, saying the government was waiting until elections to impose "further burden" on the people. In a statement, the CPI(M) Politburo said the hike in highway toll will lead to increase in price of all commodities.
Cyclone Remal: One dead in Kolkata, death toll in Bangladesh rises to 10, around 30,000 homes destroyed
Cyclone Remal, after making landfall in West Bengal and Bangladesh, continues to move northwards with gradual weakening. The storm has caused significant damage to infrastructure, power outages, and disruptions in transportation. Extensive precautionary measures, including mass evacuations and setting up shelters, were taken. Both countries experienced severe flooding and damage, particularly in the Sunderbans delta. Authorities are working to clear debris and restore services as the cyclone weakens.
IRB Infra shares rise over 4% after Q4 results. Should you buy or sell?
IRB Infrastructure Developers saw a 4.3% rise in shares on BSE as it reported a 45% YoY increase in Q4 net profit to Rs 188.9 crore, with revenue up 27% YoY.
Death toll from south China road collapse rises to 48
China Road Collapse: Heavy rains caused a stretch of road running from Meizhou city towards Dabu county to cave in at around 2:10 am on Wednesday (1810 GMT Tuesday), according to state news agency Xinhua.
Summer heat takes toll on gig workers; the rise of Airchat
Happy Monday! A shortage of delivery executives amid soaring temperatures is becoming a major concern for ecommerce companies. This and more in today’s ETtech Morning Dispatch.
Heavy rains lash UAE and surrounding nations as the death toll in Oman flooding rises to 18
Heavy rains caused flooding in the United Arab Emirates, leading to abandoned vehicles and disruptions in Dubai, including at the Dubai International Airport. Lightning struck the Burj Khalifa, the world's tallest building. Schools closed, and government employees worked remotely. Tanker trucks were deployed to pump water off the streets.
Highway toll mopup rises 35% to 5-year high of ₹64,810 crore
Year-wise, toll collection stood at ₹25,154.76 crore in 2018-19, ₹27,637.64 crore in 2019-20, ₹27,923.80 crore in 2020-21, ₹33,907.72 crore in 2021-22 and ₹48,028.22 crore in 2022-23. A senior official said a shift to satellite-based toll collection is expected to add to the revenue. "We are doing pilots across different stretches and based on the feedback, the system will be rolled out pan India in a graded manner," the official said.
At least 20 people killed, 155 injured in shelling while awaiting food aid in Gaza: Report
At least 20 killed, 155 injured in Gaza shelling. Death toll may rise. Witness saw many bodies. Gaza Civil Defense blames Israel. Humanitarian aid by sea announced.
Massive gas explosion in Kenya's capital injures more than 200 with toll expected to rise
A truck with an unknown registration number and loaded with gas exploded, igniting a huge fireball, the spokesman said. A flying gas cylinder hit Oriental Godown, burning down the warehouse that deals with garments and textiles. The Kenya Red Cross reported three deaths. The toll may rise after daybreak, Wesley Kimeto, the Embakasi police chief said.
Budget may disappoint stocks related to government capex: Jefferies
Jefferies said it is not expecting an immediate tax hike, considering elections, some post-election measures such as higher capital gains tax are possible during the year.
US life expectancy rose last year, but it remains below its pre-pandemic level
The U.S. life expectancy experienced a positive shift last year, increasing by more than a year. This uptick is attributed primarily to the receding impact of the COVID-19 pandemic, as reported by researchers from the Centers for Disease Control and Prevention (CDC) on Wednesday. Despite this improvement, the latest figures indicate that U.S. life expectancy still falls short of pre-pandemic levels.
Intel beats expectations as margins rise, manufacturing momentum builds
While Intel remains under heavy competitive pressure from Nvidia in the data center chip market, the easing PC slump and stabilization of its server chip business helped raise gross margins faster than analysts had expected.
Japan's exports rise and imports decline in September as auto shipments to US and Europe climb
Japan's exports increased by 4.3% in September compared to the previous year, driven by higher shipments of vehicles, machinery, and electronics. Conversely, imports of oil and gas fell sharply, resulting in a trade surplus of 62.4 trillion yen ($410 billion), the first monthly surplus in three months. This surge in exports suggests a strong manufacturing sector in Japan, despite weak global demand. However, economists attribute the decline in imports to base effects from the previous year.
As Gaza death toll rises, bodies are stored in ice cream trucks
Health officials in Gaza are storing the bodies of Palestinians killed by Israeli air strikes in ice cream freezer trucks due to the lack of space in hospitals and cemeteries. The Gaza Strip has experienced heavy bombardment from Israel in response to an attack by Hamas militants. The ice cream trucks, usually used for deliveries, are now makeshift morgues. Hospitals are running out of supplies and struggling to cope with the increasing number of wounded. The death toll is expected to rise, and authorities are preparing mass graves to bury the victims.
Once unthinkable bond yields now the new normal for markets
The question now is how much higher they can go, with no real top in sight after key levels were broken. While some argue the moves have already gone too far, others are calling it the new normal, a return to the world that prevailed before the era of central bank easy money distorted markets with trillions of dollars of bond buying.
Death toll from Morocco earthquake rises to 2,122
A massive earthquake that struck central Morocco has resulted in at least 2,122 deaths and 2,421 injuries, according to the Moroccan Interior Ministry. The most affected areas in the Atlas Mountains region are difficult to reach due to blocked roads, hindering rescue efforts. The World Health Organization estimates that over 300,000 people have been affected by the disaster.
China rains death toll rises to 78 as new storm approaches
Record-breaking rains have swept across northern China, causing the death of at least 78 people, according to state media. Around 29 people died in Hebei province after Storm Doksuri brought unprecedented rainfall. A further 33 people died in Beijing and more than a dozen in northern Jilin province. Scientists have warned that such extreme weather events are related to climate change. A new storm, Khanun, is approaching northern China, while heavy rain is also expected in the southwestern province of Sichuan and the northwestern provinces of Gansu and Qinghai over the weekend.
Record heat wave grips China as flood toll rises in South Korea
Wildfires burned for a third day west of the Greek capital Athens, with air water bombers resuming operations at first light and firefighters working throughout the night to keep flames away from a complex of coastal refineries.
Toll road operators' revenue to rise 9-11% next fiscal: Report
The report, based on an analysis of 49 toll road assets across 14 states, also said that robust toll collections along with adequate balance sheet liquidity will support credit profiles of toll road operators. According to Anand Kulkarni, a director at the agency, revenue of toll road operators will soar in fiscal 2023, driven by high toll rate hike of 10.5 per cent, which is linked to wholesale price inflation.
Turkey-Syria quake death toll rises above 35,000
One week after the 7.8-magnitude tremor, Turkish media reported a handful of people were still being pulled from the rubble and increasingly desperate conditions for survivors battling lack of hygiene, toilets and water.
Over 2,600 dead in Turkey-Syria earthquake; WHO warns toll could rise further
The quake, felt as far away as Cairo, was centered about 90 kilometers (60 miles) from the Syrian border, just north of the city of Gaziantep, a major Turkish provincial capital of more than 2 million people. At least 20 aftershocks followed, some hours later during daylight, the strongest measuring 6.6, Turkish authorities said.
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