Instant Media News gives information about recent events or happenings, especially as reported by means of newspapers, websites, radio, television, and other forms of media.
Netizens and fans still can't believe that BTS was invited to the White House to speak with president Joe Biden about the Anti-Asian hate crimes, Asian inclusion, and diversity. The BTS members visited the white house last month on May 31 and met with president Biden at the Oval office, making history as the first K-pop group to be invited to talk to the U.S. president.
Korean netizens still talk about BTS's exclusive visit to the White House and are debating if there would be another group that can be at their level. These netizens are saying that BTS is "the legend of the legendary" and are really wondering if there would be another group that would appear that could reach the levels BTS reached.
Netizens commented, "It's so surreal to see BTS at the white house," "They're really the first from the Korean music industry," "This is what's called legends of the legendary," "It was legendary that they were invited to the UN," "I really thought them being at the Blue House was legendary, never imagined they would reach higher," "Would there be another group like BTS that would appear in Korean history? I think they are the first and the last legends," "Maybe they're just a once-in-a-lifetime K-pop group, "I feel like my children wouldn't believe it when I say that my favorite singers were invited to the White House to talk with the U.S. president," "They are the all-time legends," and "They are really unprecedented."
Two members of the Gupta family have been arrested in the United Arab Emirates, the biggest step yet in South Africa’s fight to bring to account the kingpins accused of orchestrating the looting of its state companies
Rajesh and Atul Gupta were detained by UAE law-enforcement authorities and discussions are taking place on the way forward, South Africa’s Justice Ministry said in a statement on Monday.
A judicial inquiry into state graft spanning more than three years detailed close links between the brothers and former President Jacob Zuma, with numerous witnesses alleging that they worked hand-in-hand to siphon money out of state transport, power and arms companies and jointly decided who was appointed to the cabinet. The government has said at least 500 billion rand ($32 billion) was stolen during Zuma’s nine-year rule.
Wire rope manufacturer Usha Martin Ltd (UML) is expecting domestic demand, particularly in construction and auto sectors, to start picking up post monsoon. According to Rajeev Jhawar, Managing Director of Usha Martin, the various measures announced by the Central government to boost the economy are likely to start yielding results post monsoon. “We expect post monsoon things should be better. There should be a pick-up in demand during the festival season post September-October, by which time we hope that the Covid situation would also be brought slightly under control”, Rajeev Jhawar said.
Rajeev Jhawar, the son of Brij Jhawar, is the managing director of Usha Martin Limited since May 19, 2008. Established in the year 1960, Usha Martin is a multi-unit and multi-product organization in the wire rope business. Usha Martin is one of the world’s leading manufacturers of wire rope. Rajeev Jhawar is also the Director of Neutral Publishing House Ltd. He is also a Member of The Institute of Chartered Accountants of India and Member of The Institute of Cost & Works Accountants of India and on the board of 17 other companies.
While the demand for wire rope has been “fairly decent” in international markets, the domestic demand across various sectors has been very low due to the lockdown in the wake of the Covid-19 pandemic. But in the previous financial year, demand has started to pick up and the top-line growth of Usha Martin is evidence for this. The reverse migration of laborers had affected industries such as construction, particularly in the western and northern regions of the country. This also has had an impact on the demand for wire rope.
Rajeev Jhawar , Managing Director of Usha Martin
Usha Martin Limited’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto. “The demand from construction, auto and oil sectors is down. Our plant is currently operating at 50-55 per cent of the installed capacity. The export demand is, however, good and the rupee depreciation is supporting us”, Rajeev Jhawar Usha Martin quoted on the demand of UML’s products.
UML has a manufacturing capacity of around 2,30,000 tonnes per annum across its two facilities in India — at Ranchi (Jharkhand) and Hoshiarpur (Punjab) — and three overseas units in the UK, Thailand and Dubai. The company is hopeful of ramping up capacities by the second half of this fiscal once the covid situation is brought under control and the domestic demand starts picking up. Talking about exports, Rajeev Jhawar said that the demand for wire rope has been “fairly decent”, if not strong, from markets such as Europe, the US, South America, Australia and South-East Asia.
Exports account for close to 40 per cent of the company’s consolidated turnover, which stood at around ₹2,154 crore for the year ended March 31, 2020. Usha Martin, which sold its one-million-tonne integrated steel plant at Jamshedpur to Tata Steel for ₹4,200-4,600 crore, completed the first full year of operations of its wire rope business in FY20.
