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Windows 10 October update is wiping off user data: Report

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San Francisco, Oct 6: Users installing the Windows 10 October 2018 update have complained that the update has wiped out their user profiles including documents and photos, the media reported.

Since Microsoft has not started automatically pushing this latest update out, only people who visit “Windows Update” manually and check for updates are installing the latest software version, The Verge reported on Friday.

An alarming number of users have taken to social media forums and Microsoft’s own support website to complain about the serious issue.

“Last night I updated Windows 10 and it all went smoothly, but then I find that all my files in Documents are deleted. This included many crucial documents and financial info,” a user-complaint on the Microsoft support page read.

Microsoft is currently investigating the reports, but given these early issues it is not recommended installing the Windows 10 October 2018 Update right now, the report added.

Microsoft has not commented on the issue as yet.

In September, the tech giant had announced a refreshed “Windows 10 October 2018 Update” with new features and enhancements for over 700 million devices running Windows 10.

The update rolled out globally on October 2.

IANS

Analysis

Reverse bidding: Five players get nod to supply 12,000 rail wagons

The Railways is suffering due to the slow pace of delivery and has tried to step up procurement.

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Picture Credit : OTV

New Delhi, Dec 9 : Stepping up its wagon procurement, Indian Railways has selected five players through the reverse-auction method — a first for the wagon sector — to manufacture and supply over 12,000 wagons worth about Rs 4,000 crore.

The Railways has floated tenders to procure a total of 21,758 wagons of various types — covered, flat, open and guard vans — to cater to its growing needs in the next two years.

“We have finalised contracts for 12,611 wagons in the first lot through the reverse-auction process, which is being adopted for the first time in wagon procurement,” a senior Railways official told IANS.

In a reverse auction, the sellers compete to obtain business, and prices typically decrease as the sellers underbid each other after the lowest price is made public.

The official said the reverse auction carried out online ensures transparency and the most competitive price for the purchase as the order of more than 21,000 wagons is the largest so far.

Maintaining a strict delivery schedule, Railways has asked the five wagon manufacturers who have won the race in the competitive bidding – Jupiter Group, Modern Coach Factory, Titagarh Wagons, Texmaco and Besco — to deliver a substantial number of wagons in the first six months.

The Railways is suffering due to the slow pace of delivery and has tried to step up procurement.

While Besco has got the nod for supplying 395 guard vans, the remaining four companies of Titagarh (5,058), Jupiter (2,894), Modern (2,643) and Texmaco (1,621) have to supply open wagons before February 2020.

The Railways will take up the procurement of the next lot through the reverse-bidding process shortly.

(Arun Kumar Das can be contacted at [email protected])

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Fitch Ratings lowers India’s FY19 growth forecast to 7.2%

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Mumbai, Dec 6 : Global ratings agency Fitch Ratings on Thursday lowered India’s growth forecasts to 7.2 per cent from an earlier projection of 7.8 per cent rise for fiscal year ending March 2019.

“We have lowered our growth forecasts on weaker-than-expected momentum in the data, higher financing costs and reduced credit availability,” the agency said in its Global Economic Outlook for December.

“We now see GDP growth at 7.2 per cent in the fiscal year ending March 2019 (FY19), followed by 7 per cent in FY20 and 7.1 per cent in FY21.”

Last week, official data showed that India’s GDP growth softened substantially during the second quarter of 2018-19 to 7.1 per cent from a rise of 8.2 per cent in the previous quarter.

According to the outlook report, the country’s banking sector is still struggling with a high proportion of non-performing assets, while non-banking financial institutions (NBFIs) are facing tighter access to liquidity following the default of IL&FS, one of the 30 biggest NBFIs in India.

However, the report said that fiscal policy should continue to support growth in the run-up to elections in early 2019.

“Stepped-up public investment has helped to stem the downward trend in the investment/GDP ratio, boosted by infrastructure spending. There have also been measures to support rural demand,” the report said.

On the inflation trend, the outlook said that headline inflation has slipped in recent months, and touched a 13-month low in October, at 3.3 per cent year-on-year.

“Food prices have pulled the headline index down, but core inflation remains elevated. We expect inflation to edge up mildly in the coming months, on normalising food prices and higher import prices stemming from the depreciation of the rupee (INR),” the report said.

“The widening of the current account deficit amidst tighter global financing conditions should put downward pressure on the currency, and we forecast the INR to weaken to 75 against the dollar by end-2019.”

IANS

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Coal scam: ED attaches Rs 117-crore property of Prakash Industries

As a result of filing false declaration, the shares of Prakash Industries recorded an astronomical rise in their value, the ED said.

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New Delhi, Dec 4 : The Enforcement Directorate has attached Rs 117.09-crore movable and immovable properties of Prakash Industries in connection with its ongoing probe against it in allocation of Fatehpur coal block in Chhattisgarh in 2008, the agency said on Tuesday.

The ED said the proceeds of the crime had been “generated and used in the continuous expansion related to manufacturing activities” therefore the properties were attached under Prevention of Money Laundering Act (PMLA).”

The ED said: “Prakash Industries filed false declaration with the Bombay Stock Exchange (BSE) on November 17, 2007 intimating the allocation of coal block. The coal block was actually allocated on February 6, 2008 jointly to Prakash Industries and SKS Ispat Power Ltd.”

As a result of filing false declaration, the shares of Prakash Industries recorded an astronomical rise in their value, the ED said.

“At one point of time on April 2, 2007, the share price was Rs 31 per share whereas it was Rs 351 per share on January 4, 2008. The company in order to encash the artificially created rise in their share value, issued 62,50,000 preferential shares on premium of Rs 180 per share and sold these shares to five selected companies. In this process, the firm generated Rs 118.75 crore in the form of share capital,” the ED said.

The ED started a probe after filing a case on August 30, 2014 based on a Central Bureau of Investigation’s FIR that followed allegation the firm had applied for allocation of coal block on January 12, 2007 to the Coal Ministry as per the advertisement dated November 13, 2006.

The application was found to be containing false net-worth details and on the basis of such misrepresentation, the company got allocated Fatehpur coal block on February 6, 2008, which was de-allocated in 2014, the ED said.

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