India court allows Vedanta to reopen controversial plant

The plant was shuttered by the state government in the aftermath of a shooting that killed 13 people. (File/Reuters)
Updated 16 December 2018
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India court allows Vedanta to reopen controversial plant

  • The city of Thoothukudi had been rocked by long-running protests over the plant
  • Protesters say it harms the environment and the health of those living near it, claims the company has long denied

NEW DELHI: An Indian copper smelter at the centre of a police shooting that left 13 protesters dead has been granted permission to reopen by the country's environmental court.
The Sterlite plant, owned by British mining giant Vedanta Resources, was closed after the bloody police crackdown in May on protesters who say the smelter is poisoning the air and water.
Vedanta Resources, owned by Indian-born billionaire tycoon Anil Agarwal, had appealed against the plant's closure by the state government of Tamil Nadu where it is located.
The National Green Tribunal, a federal authority which rules on environmental matters, ordered Saturday that the plant in Thoothukudi city could resume operation.
Sterlite CEO P. Ramnath on Sunday welcomed the decision.
"We are happy that all those affected by the closure will get back their source of livelihood and the town of Thoothukudi will revert to normalcy," he said in a statement on Twitter.
The Tamil Nadu state government has said it will appeal the decision in India's highest court.
The city of Thoothukudi, previously known as Tuticorin, had been rocked by long-running protests over the plant, one of the largest in India.
Protesters say it harms the environment and the health of those living near it, claims the company has long denied.
The demonstrations intensified in May after Vedanta sought to double the annual capacity of the plant.
On May 22, police opened fire on thousands of protesters, killing 13 people.
The plant was shuttered by the state government in the aftermath of the shooting.
The company denies all charges and maintains that it adheres to the best environmental standards.
The federal green court ordered Vedanta to spend one billion rupees ($13.9 million) over three years to assist local communities.
But it criticised the pollution regulators in Tamil Nadu, saying they stalled the case by tying up the company in paperwork.


Saudi Arabia and UAE launch a new joint cryptocurrency

Updated 20 January 2019
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Saudi Arabia and UAE launch a new joint cryptocurrency

  • The cryptocurrency will be limited to banks during its first stages
  • The program will also help the two countries evaluate the monetary policies of a centralized currency

Saudi Arabia and the UAE have launched a joint cryptocurrency during the first meeting of the Saudi-Emirati Coordination council Saturday in Abu Dhabi, UAE’s national press agency WAM said.

The cryptocurrency will be limited to banks during its first stages, until the governments have a better understanding of how Blockchain technology operates cross-borders.

The currency operates on the use of a “distributed database between the central banks and the participating banks from both sides,” aiming to protect customer interests, set technology standards and assess cybersecurity risks. The new program will also help evaluate the impacts of a central currency on monetary policies.

During the meeting, representatives of Saudi Arabia and the UAE also signed the Joint Supply Chained Security Cooperation program, which tests the two countries abilities to provide vital supplies during times of crisis and national emergencies, as well as share expertise and knowledge in the field.

All 16 members of the executive committee of the council followed up on the execution of the initiatives mentioned in the Strategy of Resolve.

Representatives also set five other initiatives to enhance the cooperation between the two countries, such as facilitating the traffic between ports, improving airports to make it easier for people with disabilities to travel, creating a financial awareness program for children aged 7-18, starting a joint platform to support local SMEs, and the integration of civil aviation markets,

The committee was headed by Mohammad bin Abdullah Al-Gergawi, minister of cabinet of affairs and the future of UAE, and Mohammed bin Mazyad Al-Twaijri, minister of economy and planning in Saudi. The committee will also monitor the implementation of the initiatives.