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Turkey to announce discovery of new gas reserves in Black Sea

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Turkish President Recep Tayyip Erdogan

ANKARA : Turkish President Recep Tayyip Erdogan said Wednesday that he would announce the size of new gas reserves off the Black Sea this week while visiting the Turkish drilling ship “Fatih”.

“I will visit our drilling ship Fatih on Saturday to witness the work in person and announce the size of the new reserves,” Erdogan said while addressing his lawmakers at the parliament.

Ankara has already announced 320 billion cubic meters of natural gas reserves in the Sakarya Gas Field in the Black Sea.

Erdogan said Turkey also dispatched “Kanuni” vessel to the Black Sea, noting that “it is also expected to bring good news about the reserves” in the region.

The tensions between Turkey and Greece were about to calm down over plans to resume exploratory talks for the disputed areas, but mounted again this week as Ankara announced that its vessel would carry out new seismic research activities in the Eastern Mediterranean.

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2020 lockdowns to drive new forms of automation: Report

Document extraction, robotic process automation (RPA) from anywhere, drones and various employee robots will proliferate.

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The ‘great lockdown of 2020 will make the drive for automation in 2021 both inevitable and irreversible and remote work, new digital muscles and pandemic constraints will create millions of pragmatic automations, according to a new report.

Document extraction, robotic process automation (RPA) from anywhere, drones and various employee robots will proliferate.

“In 2021, up to 30 per cent of organisations will ramp up their focus on quality by better planning and testing automation before deploying it to production or exposing it to employees,” said the Forrester report on automation.

Three times as many information workers will work from home all or most of the time, while many companies will institute hybrid models in which workers come to the office less often.

“As a result of the pandemic, new forms of automation will support one in four remote workers either directly or indirectly by 2022”.

Direct support in the form of giving a bot to individual workers to support their daily journey will be rare.

However, indirect support will blossom, as intelligent automation handles employee benefits questions and supports document, customer service, and line-of-business tasks that are often invisible to the home worker, the findings showed.

Recent rapid growth in the consumer drones industry has sparked momentum in the commercial drone market.

While social distancing is a factor in drone usage, two forces will accelerate adoption in 2021.

“First, governments are crafting better regulations to facilitate drone adoption and commercialization, with Amazon Prime Air gaining FAA approval for drone deliveries and India driving drone pilot training with new policies,” according to the report.

Second, the rapid evolution of computer vision and 5G will enable real-time drone intelligence over ultra-reliable, low-latency communications.

Like machine learning, RPA will become an embedded feature of many platforms by the end of 2021.

“But rushed and haphazard automation exposes systems and the business to serious risk, so the lack of focus on automation quality is alarming, the report warned.

It can lead to monumental failures that not only damage a company’s reputation and customer trust but also limit broader public trust in automation (specifically AI) as a result of media scrutiny, it added.

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Hotel industry’s recovery to pre-Covid levels profits 3 yrs away: ICRA

“This will keep revenues moderated, resulting in operating losses and stretched debt metrics during FY2021 and FY2022.”

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Park Hotel Delhi

New Delhi, Oct 24 : The Indian hotel industry’s recovery to pre-Covid levels profits is at least three years away, ratings agency ICRA has said.

The ratings agency said that road ahead for the industry is rough as revenues and margins are expected to post record decline in FY21 with losses mounting over the next two years.

The hotel industry has witnessed one of the worst revenue declines, in Q1FY21, with revenues for the industry sample declining by 85 per cent.

“Given the high operating and financial leverage in the industry, the revenue decline led to huge operating and net losses in Q1 FY2021 despite the extensive cost-cutting measures adopted by most entities in the industry,” ICRA said in a statement.

“Despite sharp weakening in interest coverage, recourse to the RBI provided moratorium on debt servicing as part of its Covid relief package announced in March 2020 supported the industry.”

As per the statement, about 66 per cent of ICRA’s hospitality portfolio applied for moratorium under this scheme and several of these will apply for restructuring under the K.V. Kamath committee too.

“Although hotels have been gradually allowed to reopen, occupancies have remained subdued in H1FY2021,” the statement said.

“This will keep revenues moderated, resulting in operating losses and stretched debt metrics during FY2021 and FY2022.”

The industry has reported a 2.7 per cent de-growth in topline with flat operating margins at 22 per cent in FY2020.

“With an 85 per cent YoY decline witnessed in revenues in Q1 FY2021 and subdued occupancies witnessed in Q2 FY2021 as well, industry wide revenues are expected to witness sharp de-growth of 60-65 per cent for FY2021,” ICRA said.

“Despite several measures taken by the companies to variabilise the fixed costs, the industry is likely to report massive operating and net losses in FY2021.”

–IANS

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Gujarat was first state to adopt policy for solar power: Modi

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Narendra Modi

New Delhi, Oct 24 : Prime Minister Narendra Modi on Saturday inaugurated three projects in Gujarat including the Kisan Sarvodaya Scheme, under which the farmers will get electricity during the day for the irrigation purpose and said that Gujarat was first state to adopt policy for solar power generation.

Besides Kisan Suryoday Scheme, Modi also inaugurated Paediatric Heart Hospital attached with U.N. Mehta Institute of Cardiology & Research Centre & Mobile App for telecardiology at the Ahmedabad Civil Hospital and the Ropeway at Girnar via video conferencing.

Speaking on the occasion, Modi said, “After Sujlam Suflam and Sauni scheme, this Suryodaya scheme will benefit farmers. It will give maximum benefit to farmers.”

He said, the works in the power sector will work wonders for farmers of Gujarat in the coming years.

He also highlighted that Gujarat was the first state in the country which brought policies for solar power usage. “When the Patan solar power plant was set up in Gujarat, no one has imagined that India will show the world the mantra of one sun-one world-one grid,” he said.

“Today India is among of the top countries in the production of Solar power generation. It has reached on 5th spot and is moving forward at a rapid pace,” Modi said.

Highlighting the benefits of Kisan Suryodaya Scheme, the Prime MInister said, “Farmers will get the power since morning till 9 p.m., and they will get three phase electricity.”

He also said that the Gujarat government will lay 3,500 km new circuit lines in next few years in the state. “And I have been informed that in 1,000 villages, most of which are in tribal areas will be benefitted in the coming days,” Modi said.

The recently completed ropeway on Mount Girnar near Junagadh city of Saurashtra region covers a distance of 2.13 kilometres from the foot to the peak where the temple of Maa Amba is situated.

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