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Tag: Transport

  • Elon Musk Sounds a Dire Warning About the Economy

    Elon Musk Sounds a Dire Warning About the Economy

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    Elon Musk is worried about the economy. 

    For several months now, the richest man in the world has continued to sound the alarm, warning that the economy risks a deep recession if the central bank’s monetary policy stays on course. 

    While the Federal Reserve is holding its last monetary meeting of the year in the coming days, the serial entrepreneur has just made a new prediction. And like his past predictions, this one is very alarming.

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  • 20 dividend stocks with high yields that have become more attractive right now

    20 dividend stocks with high yields that have become more attractive right now

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    Income-seeking investors are looking at an opportunity to scoop up shares of real estate investment trusts. Stocks in that asset class have become more attractive as prices have fallen and cash flow is improving.

    Below is a broad screen of REITs that have high dividend yields and are also expected to generate enough excess cash in 2023 to enable increases in dividend payouts.

    REIT prices may turn a corner in 2023

    REITs distribute most of their income to shareholders to maintain their tax-advantaged status. But the group is cyclical, with pressure on share prices when interest rates rise, as they have this year at an unprecedented scale. A slowing growth rate for the group may have also placed a drag on the stocks.

    And now, with talk that the Federal Reserve may begin to temper its cycle of interest-rate increases, we may be nearing the time when REIT prices rise in anticipation of an eventual decline in interest rates. The market always looks ahead, which means long-term investors who have been waiting on the sidelines to buy higher-yielding income-oriented investments may have to make a move soon.

    During an interview on Nov 28, James Bullard, president of the Federal Reserve Bank of St. Louis and a member of the Federal Open Market Committee, discussed the central bank’s cycle of interest-rate increases meant to reduce inflation.

    When asked about the potential timing of the Fed’s “terminal rate” (the peak federal funds rate for this cycle), Bullard said: “Generally speaking, I have advocated that sooner is better, that you do want to get to the right level of the policy rate for the current data and the current situation.”

    Fed’s Bullard says in MarketWatch interview that markets are underpricing the chance of still-higher rates

    In August we published this guide to investing in REITs for income. Since the data for that article was pulled on Aug. 24, the S&P 500
    SPX,
    -0.29%
    has declined 4% (despite a 10% rally from its 2022 closing low on Oct. 12), but the benchmark index’s real estate sector has declined 13%.

    REITs can be placed broadly into two categories. Mortgage REITs lend money to commercial or residential borrowers and/or invest in mortgage-backed securities, while equity REITs own property and lease it out.

    The pressure on share prices can be greater for mortgage REITs, because the mortgage-lending business slows as interest rates rise. In this article we are focusing on equity REITs.

    Industry numbers

    The National Association of Real Estate Investment Trusts (Nareit) reported that third-quarter funds from operations (FFO) for U.S.-listed equity REITs were up 14% from a year earlier. To put that number in context, the year-over-year growth rate of quarterly FFO has been slowing — it was 35% a year ago. And the third-quarter FFO increase compares to a 23% increase in earnings per share for the S&P 500 from a year earlier, according to FactSet.

    The NAREIT report breaks out numbers for 12 categories of equity REITs, and there is great variance in the growth numbers, as you can see here.

    FFO is a non-GAAP measure that is commonly used to gauge REITs’ capacity for paying dividends. It adds amortization and depreciation (noncash items) back to earnings, while excluding gains on the sale of property. Adjusted funds from operations (AFFO) goes further, netting out expected capital expenditures to maintain the quality of property investments.

    The slowing FFO growth numbers point to the importance of looking at REITs individually, to see if expected cash flow is sufficient to cover dividend payments.

    Screen of high-yielding equity REITs

    For 2022 through Nov. 28, the S&P 500 has declined 17%, while the real estate sector has fallen 27%, excluding dividends.

    Over the very long term, through interest-rate cycles and the liquidity-driven bull market that ended this year, equity REITs have fared well, with an average annual return of 9.3% for 20 years, compared to an average return of 9.6% for the S&P 500, both with dividends reinvested, according to FactSet.

    This performance might surprise some investors, when considering the REITs’ income focus and the S&P 500’s heavy weighting for rapidly growing technology companies.

    For a broad screen of equity REITs, we began with the Russell 3000 Index
    RUA,
    -0.04%    ,
    which represents 98% of U.S. companies by market capitalization.

    We then narrowed the list to 119 equity REITs that are followed by at least five analysts covered by FactSet for which AFFO estimates are available.

    If we divide the expected 2023 AFFO by the current share price, we have an estimated AFFO yield, which can be compared with the current dividend yield to see if there is expected “headroom” for dividend increases.

    For example, if we look at Vornado Realty Trust
    VNO,
    +1.03%    ,
    the current dividend yield is 8.56%. Based on the consensus 2023 AFFO estimate among analysts polled by FactSet, the expected AFFO yield is only 7.25%. This doesn’t mean that Vornado will cut its dividend and it doesn’t even mean the company won’t raise its payout next year. But it might make it less likely to do so.

    Among the 119 equity REITs, 104 have expected 2023 AFFO headroom of at least 1.00%.

    Here are the 20 equity REITs from our screen with the highest current dividend yields that have at least 1% expected AFFO headroom:

    Company

    		 Ticker

    		 Dividend yield

    		 Estimated 2023 AFFO yield

    		 Estimated “headroom”

    		 Market cap. ($mil)

    		 Main concentration
    Brandywine Realty Trust

    		 BDN,
    +2.12%         		11.52%

    		 12.82%

    		 1.30%

    		 $1,132

    		 Offices
    Sabra Health Care REIT Inc.

    		 SBRA,
    +2.41%         		9.70%

    		 12.04%

    		 2.34%

    		 $2,857

    		 Health care
    Medical Properties Trust Inc.

    		 MPW,
    +2.53%         		9.18%

    		 11.46%

    		 2.29%

    		 $7,559

    		 Health care
    SL Green Realty Corp.

    		 SLG,
    +2.25%         		9.16%

    		 10.43%

    		 1.28%

    		 $2,619

    		 Offices
    Hudson Pacific Properties Inc.

    		 HPP,
    +1.41%         		9.12%

    		 12.69%

    		 3.57%

    		 $1,546

    		 Offices
    Omega Healthcare Investors Inc.

    		 OHI,
    +1.23%         		9.05%

    		 10.13%

    		 1.08%

    		 $6,936

    		 Health care
    Global Medical REIT Inc.

    		 GMRE,
    +2.55%         		8.75%

    		 10.59%

    		 1.84%

    		 $629

    		 Health care
    Uniti Group Inc.

    		 UNIT,
    +0.55%         		8.30%

    		 25.00%

    		 16.70%

    		 $1,715

    		 Communications infrastructure
    EPR Properties

    		 EPR,
    +0.86%         		8.19%

    		 12.24%

    		 4.05%

    		 $3,023

    		 Leisure properties
    CTO Realty Growth Inc.

    		 CTO,
    +2.22%         		7.51%

    		 9.34%

    		 1.83%

    		 $381

    		 Retail
    Highwoods Properties Inc.

    		 HIW,
    +0.99%         		6.95%

    		 8.82%

    		 1.86%

    		 $3,025

    		 Offices
    National Health Investors Inc.

    		 NHI,
    +2.59%         		6.75%

    		 8.32%

    		 1.57%

    		 $2,313

    		 Senior housing
    Douglas Emmett Inc.

    		 DEI,
    +0.87%         		6.74%

    		 10.30%

    		 3.55%

    		 $2,920

    		 Offices
    Outfront Media Inc.

    		 OUT,
    +0.89%         		6.68%

    		 11.74%

    		 5.06%

    		 $2,950

    		 Billboards
    Spirit Realty Capital Inc.

    		 SRC,
    +1.15%         		6.62%

    		 9.07%

    		 2.45%

    		 $5,595

    		 Retail
    Broadstone Net Lease Inc.

    		 BNL,
    -0.30%         		6.61%

    		 8.70%

    		 2.08%

    		 $2,879

    		 Industial
    Armada Hoffler Properties Inc.

    		 AHH,
    +0.00%         		6.38%

    		 7.78%

    		 1.41%

    		 $807

    		 Offices
    Innovative Industrial Properties Inc.

    		 IIPR,
    +1.42%         		6.24%

    		 7.53%

    		 1.29%

    		 $3,226

    		 Health care
    Simon Property Group Inc.

    		 SPG,
    +1.03%         		6.22%

    		 9.55%

    		 3.33%

    		 $37,847

    		 Retail
    LTC Properties Inc.

    		 LTC,
    +1.42%         		5.99%

    		 7.60%

    		 1.60%

    		 $1,541

    		 Senior housing
    Source: FactSet

    Click on the tickers for more about each company. You should read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

    The list includes each REIT’s main property investment type. However, many REITs are highly diversified. The simplified categories on the table may not cover all of their investment properties.

    Knowing what a REIT invests in is part of the research you should do on your own before buying any individual stock. For arbitrary examples, some investors may wish to steer clear of exposure to certain areas of retail or hotels, or they may favor health-care properties.

    Largest REITs

    Several of the REITs that passed the screen have relatively small market capitalizations. You might be curious to see how the most widely held REITs fared in the screen. So here’s another list of the 20 largest U.S. REITs among the 119 that passed the first cut, sorted by market cap as of Nov. 28:

    Company

    		 Ticker

    		 Dividend yield

    		 Estimated 2023 AFFO yield

    		 Estimated “headroom”

    		 Market cap. ($mil)

    		 Main concentration
    Prologis Inc.

    		 PLD,
    +1.63%         		2.84%

    		 4.36%

    		 1.52%

    		 $102,886

    		 Warehouses and logistics
    American Tower Corp.

    		 AMT,
    +0.75%         		2.66%

    		 4.82%

    		 2.16%

    		 $99,593

    		 Communications infrastructure
    Equinix Inc.

    		 EQIX,
    +0.80%         		1.87%

    		 4.79%

    		 2.91%

    		 $61,317

    		 Data centers
    Crown Castle Inc.

    		 CCI,
    +0.93%         		4.55%

    		 5.42%

    		 0.86%

    		 $59,553

    		 Wireless Infrastructure
    Public Storage

    		 PSA,
    +0.19%         		2.77%

    		 5.35%

    		 2.57%

    		 $50,680

    		 Self-storage
    Realty Income Corp.

    		 O,
    +0.72%         		4.82%

    		 6.46%

    		 1.64%

    		 $38,720

    		 Retail
    Simon Property Group Inc.

    		 SPG,
    +1.03%         		6.22%

    		 9.55%

    		 3.33%

    		 $37,847

    		 Retail
    VICI Properties Inc.

    		 VICI,
    +0.81%         		4.69%

    		 6.21%

    		 1.52%

    		 $32,013

    		 Leisure properties
    SBA Communications Corp. Class A

    		 SBAC,
    +0.27%         		0.97%

    		 4.33%

    		 3.36%

    		 $31,662

    		 Communications infrastructure
    Welltower Inc.

    		 WELL,
    +3.06%         		3.66%

    		 4.76%

    		 1.10%

    		 $31,489

    		 Health care
    Digital Realty Trust Inc.

    		 DLR,
    +0.63%         		4.54%

    		 6.18%

    		 1.64%

    		 $30,903

    		 Data centers
    Alexandria Real Estate Equities Inc.

    		 ARE,
    +1.49%         		3.17%

    		 4.87%

    		 1.70%

    		 $24,451

    		 Offices
    AvalonBay Communities Inc.

    		 AVB,
    +0.98%         		3.78%

    		 5.69%

    		 1.90%

    		 $23,513

    		 Multifamily residential
    Equity Residential

    		 EQR,
    +1.46%         		4.02%

    		 5.36%

    		 1.34%

    		 $23,503

    		 Multifamily residential
    Extra Space Storage Inc.

    		 EXR,
    +0.31%         		3.93%

    		 5.83%

    		 1.90%

    		 $20,430

    		 Self-storage
    Invitation Homes Inc.

    		 INVH,
    +2.15%         		2.84%

    		 5.12%

    		 2.28%

    		 $18,948

    		 Single-family residental
    Mid-America Apartment Communities Inc.

    		 MAA,
    +1.83%         		3.16%

    		 5.18%

    		 2.02%

    		 $18,260

    		 Multifamily residential
    Ventas Inc.

    		 VTR,
    +2.22%         		4.07%

    		 5.95%

    		 1.88%

    		 $17,660

    		 Senior housing
    Sun Communities Inc.

    		 SUI,
    +2.12%         		2.51%

    		 4.81%

    		 2.30%

    		 $17,346

    		 Multifamily residential
    Source: FactSet

    Simon Property Group Inc.
    SPG,
    +1.03%
    is the only REIT to make both lists.

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  • Expensive Cars Have DLC Now, And It’s Taking The Piss

    Expensive Cars Have DLC Now, And It’s Taking The Piss

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    Image for article titled Expensive Cars Have DLC Now, And It's Taking The Piss

    For a few years now some car companies have been experimenting with an idea ripped straight out of video games. Someone somewhere figured that hey, if people are willing to pay for a game then spend more money inside the game they already bought, then they might do the same for cars—a far more expensive and lucrative business.

    BMW, for example, offers a subscription service where for $18 a month you can get heated seats, or pay to unlock adaptive cruise control. Tesla has a pricey ($99-$199 a month!) subscription service for its self-driving software in some cars, and Volkswagen, Toyota and GM have all trialled similar subscription-based unlocks or features as well.

    Making headlines this week, though, is an example that’s the most outrageous since Tesla used to lock battery range behind a paywall. Mercedes has announced a digital purchase for its all-electric vehicles called an “Acceleration Increase,” which costs $1,200 a year and when bought, “can improve an EQ vehicle’s acceleration by 0.8 to 1.0 seconds.”

    While cars have always featured expensive add-ons—it’s a pillar of the whole business model—those have previously been tangible purchases. If you paid for bigger wheels you got bigger wheels. Parting with a few thousand extra for leather seats got you fancy leather seats.

    What’s happening with these car subscription services, though, is far more ominous. You’re not really getting anything. Instead, thanks to advances in the operating systems and communications found in modern cars, what you’re buying is a vehicle with certain features limited or locked off, which can then be then enabled remotely.

    It’s the same argument video games went through over a decade ago—and which we have collectively just shrugged at and moved on from—when people found out the DLC they were buying was already on the disc they bought. It’s the same story here; the motors in these Mercedes vehicles could always go that fast, and locking certain elements of their performance away behind a digital paywall is taking the absolute piss.

    One common factor among all the very worst of these examples is that they’re limited to expensive, luxury vehicles, targeting rich people who probably don’t give a shit about spending (what’s for them) a few extra bucks a month, when they’ve dropped $100,000 or more on a car. The danger, of course, is that if those rich people start buying this stuff, and it becomes a successful business model, then it won’t be too long before we start seeing it in a Toyota Corolla and…oh. Great.

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    Luke Plunkett

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  • Tanzania plane crash rescue was delayed, ill equipped: Report

    Tanzania plane crash rescue was delayed, ill equipped: Report

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    The government should ‘build adequate capabilities’ for its search and rescue teams, a transport ministry report says.

    More passengers would have been saved after the plane crash in Tanzania earlier this month if emergency workers had been better prepared and rescue operations launched more swiftly, a government report concluded.

    Investigators said the cause of the crash was still under inquiry “but the possibility of wind shear (downdraft) cannot be ruled out”. The report issued Tuesday is the first of three due to be released over the next year.

    Nineteen people died when the Precision Air passenger plane carrying 43 people plunged into Lake Victoria on November 6, prompting a frantic rescue effort by nearby fishermen who were first to arrive and used canoes to pluck people to safety.

    Police blamed bad weather for the disaster but President Samia Suluhu Hassan promised a formal investigation into Tanzania’s worst aviation accident in decades as anger grew over the government’s handling of the rescue effort.

    Precision Air, which is partly owned by Kenya Airways, last week said it had started the process to compensate the families of those killed in the accident, but gave no indication about the amount due to them.

    Delays, lack of preparedness

    “If there could have been immediate rescue operations, it is most likely that more people would have survived,” the ministry’s air accident aviation branch said in its preliminary report.

    There was a fire station in the northwestern city of Bukoba, where the plane attempted a third approach to land amid thunderstorms and strong winds just before 9am (06:00 GMT), but the 10 firefighters were not equipped for offshore operations, investigators said.

    There was a single police marine unit that carried out water rescues, but it was not notified until 15 minutes after the crash and did not arrive for another five hours as it was elsewhere on patrol.

    “The boat arrived at the scene at around 1049 hours (1:49pm local time) however divers were unable to perform their duties for lack of oxygen in the bottles” and insufficient fuel, the report said.

    “Before the arrival of Police Marine Unit, one of the local fishermen started the process of recovering of the dead bodies from the wreckage.”

    The report recommended that the government should “build adequate capabilities” for its search and rescue teams.

    Most of the victims were in the submerged front of the plane, which had nose-dived into the lake, while the two pilots could not escape the cockpit. They were also among the dead.

    A crew member unlocked a rear door with the assistance of a “muscular” passenger who helped survivors into the canoes and fishing boats that arrived minutes after the crash, the report said.

    The approach at Bukoba is known for its difficulty in adverse weather conditions but the pilot was “very experienced” and from the area, it added.

    But given the weather conditions – thick clouds, lightning, fog and strong winds were reported – the pilot “should have chosen to divert to Mwanza or to circle around until the weather condition improved”, the report said.

    The plane was an ATR 42-500 turboprop made by Franco-Italian planemaker ATR.

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  • Elon Musk Has a Very Bad Surprise for Tesla Shareholders

    Elon Musk Has a Very Bad Surprise for Tesla Shareholders

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    The fears of Tesla  (TSLA) – Get Free Report shareholders and fans are confirmed. 

    Elon Musk, the CEO of the famous manufacturer of premium electric vehicles, is paying a hefty price for his acquisition of Twitter  (TWTR) – Get Free Report. 

    And unsurprisingly, Tesla is paying the price. The billionaire has just sold 19.5 million shares of Tesla for a total amount of $3.95 billion, according to regulatory documents filed on November 8 in the evening.

    The sale was completed in 38 transactions on November 4, 7 and 8, just days after the Twitter acquisition was completed. The tech tycoon had taken control of the social network on October 27 after a six-month battle marked by twists and turns and a stop in the courts.

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  • Jindal Stainless can be one of the top companies in sector globally post expansion: Abhyuday Jindal

    Jindal Stainless can be one of the top companies in sector globally post expansion: Abhyuday Jindal

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    Pegged to be the metal for nation-building, stainless steel is being increasingly used in architecture, building and construction activities, automobiles, railways and transport in India and globally. Yet, the recently imposed export duty of 15 per cent on steel is dampening the business operability. 
    Abhyuday Jindal, Managing Director, Jindal Stainless, in an exclusive conversation with BT’s Nidhi Singal talks about the company’s strategy, its upcoming merger, expansion plans, and much more. Edited experts:
     
    BT: Jindal Stainless reported an 8 per cent year-on-year growth in its consolidated profit for the April-June quarter, despite rising input costs and export duties. What was the strategy that worked for the company?

    Abhyuday Jindal: The last quarter was actually quite a challenging quarter because there were two-three external factors that are coming into effect now. First, the commodity cycle was on a downward trend. All your raw material prices were falling. So when that starts, the whole economy, and the world, go into kind of destocking mode. There is pressure to sell volumes, there is pressure on margins.
    At this time, our government came up with this 15 per cent export duty. So, it is actually a double whammy for companies like us. Prices any way were coming down, plus with this export duty coming, it became unviable or very challenging for Indian companies to export.  Companies like us, where there is not so much demand in stainless steel (that we are trying to create), we were dependent on the export market.
    There are certain sizes that we have or certain equipment we created, which are created only for the export segment. That was a big negative impact on us because of that kind of volume we then had to push to domestic. 
    One positive thing for our company is that we are very agile. We are not dependent on any industry or any segment more than 15-20 per cent. Just to give an example, last two years, the auto was severely impacted because of semiconductors. And auto is a big sector for us, but our volumes were not impacted at all because whatever shortfall was in auto, we were very easily able to push that into other sectors. (As) railway picked up, so we pushed it into railways. 

    The infrastructure segment has picked up with all the support coming from the government. The same thing we are doing now is that with this export duty coming on, we are not able to export the volumes that we were (doing earlier). So, we have pushed our volumes into the sector in that we were not very aggressive. We were leaving that more for the Indian secondary stainless steel players and the smaller company.  But with the export market not available to us, we have entered into this segment. There was a little dip as compared to Q4 last year, but overall we were able to maintain the volumes. Margins are definitely impacted by this export duty coming in because everybody is then buying only for the domestic market. And I think that was the impact the government wanted, which has been created. So, we are hopeful that next couple of months, they should do away with this export duty. 
    The other factor is that now steel players can add boron, which classifies them as alloy steel, and then they are able to export without export duties. But in stainless steel, that is not possible.
    We are into process industries also:  petrochemical, nuclear, auto, and railways. Architecture Building Constructions (ABC) is a massive area where stainless steel is consumed, and the world showcases that. And anywhere you see stainless steel is the material that is consumed in infrastructure to a maximum. So, in the same way, India is also leading up to that. A lot of interesting areas, like railway foot-over bridges, are now completely into stainless steel. In all coastal areas, they are supposed to be made of stainless steel. So that way, we are able to manage our Q1 performance.

    BT: What percentage of your business was coming from domestic and export?
    AJ: To serve domestic customers in one passion and export in a strategic manner aligned with the ‘local to global vision. 
    Pre-pandemic, our export share has been 20-25 per cent. During the pandemic, it increased to about 30 per cent. However, post exports duty imposition it is low at 10 per cent only.  When this export duty goes down, we hope to take up our export percentage (back) higher again.
     
    BT: When you divert your production to other sectors, how easy or difficult is it to switch manufacturing?
     
    AJ:  There are standard grades, and there are customised grades. And when we say we can switch, we can switch in the series also. Last full year, the 300 series was the major series for us. Almost 50 to 60 per cent of our sales were in the 300 series. That was also because the export market is more on the 300 series. So then, because export was high, the 300 series was high. Now that export duties have (been) put in, the 300 series has come down by about 10 to 15 per cent. But we’ve picked up 400 series and 200 series, which go into other sectors and segments. So that way, we are able to move very fast into other industries and streams.
    (The switch can happen) within, I would say, 20 to 25 days. We can very easily switch because it is purely (about) getting the required raw material. Nothing else needs to be done. If the raw material is with us, we can switch instantly. But if raw material has to be organised, then it can take about 20-25 days. The equipment, processing techniques – everything is the same. It is only the grade that we need to switch.
     
    BT: How will the merger with Jindal Stainless (Hisar) Ltd impact your operations?
     
    AJ: Jindal Stainless (Hisar) Ltd. was demerged in 2014. The reason was that we were in corporate debt restructuring. Along with our committee of bankers and our team internally, one way to protect our organization was decided. We had two factories, one in Hisar, and one in Orissa. Splitting them into two listed companies was a good option. 
    Hisar, in the history of the Jindal Group, has never been at loss. For almost 50 years, Hisar has continuously been making profits. However, at that time, the stainless steel industry went through a very tough time. The point of view was that let us protect one company during those trying times.
    Today, the biggest reason that the domestic stainless steel industry is suffering is unwarranted imports — heavy dumping that happens from China and Indonesia. Over the course of the last 10 years, due to excessive dumping, the whole industry and our margins and volumes were always under pressure. In 2014-15, the companies decided to split.
    (Today) I would say we are the only company in the whole manufacturing sector that successfully did the splitting of companies and successfully got out of CDR. 2019 is when we completely paid all the debt, did not take any haircuts, and got out of CDR. Over the last couple of years, we have reduced our debt significantly, and our ratios are now one of the best in the metal sector. So now we felt it was the right time to remerge the companies.
     
    This was also from the perspective of having one standalone entity that is a global major in stainless steel. After the merger, we will be among the top 10 stainless steel producers in the world. And after our expansion, which will start in January of this financial year, we aim to be in the top 5 in the world.
     
    The merger will have a lot of benefits, including an improved balance sheet and stakeholder benefits. Our negotiating power will increase because rather than negotiating with our vendors and suppliers as two separate entities, we will now negotiate as one. It will also help in improving our customer service. Our investors will benefit too. There was always confusion in the market – what does Hisar do, or what does Jajpur (Orissa) do? Because of having two legal entities, we had to make a lot of double investments – warehousing, logistics, etc. Now, we’d be able to do away with all this.
     
    BT: Where does India stand in the stainless steel ecosystem globally?
     
    AJ: Till last year, we were actually number two in terms of production in stainless steel. China is number one, always, and then India was number two. Then certain factors happened – anti-dumping duty and CVD on stainless steel for imports coming in from China and Indonesia were removed. As soon as that got removed, Indonesia picked up its production and now has overtaken India as number two in terms of the stainless steel ecosystem. 
    So it’s China number one, India used to be number two last year, and then Indonesia.  Now it’s China, Indonesia, and India.  So because of the government policies and because of the factors that have impacted us, India’s position is falling, which is a very big negative, I can say it from the government’s point of view.
     
    BT: So aren’t the new export duties going to further damage India’s position in the stainless steel leatherboard?
    AJ: Definitely, because now everybody, after the two years and the momentum that we saw in the industrial activity, every company has announced expansion, adding capacities and making India further strengthen its position. But with this duty and depending on how long it will continue, everybody is now either questioning that expansion or delaying it further. I mean everything is under question because of this export duty. We do feel that it should not stay for long, but all our plans are under, I would say, fix right now.
     
    BT: But on the other side, isn’t the government really pushing every sector with the PLI?
    AJ: The government is reworking the steel PLI. Nobody has been able to really apply or get anything from the steel PLI. The focus for PLI has been importing substitution, but I feel that the interaction with the industry requires being more robust. That is reason, why they are reworking on it, because every company from the steel industry represented that there is nothing in this that we can actually apply for or we can actually go and get this PLI for us. This is why, from the information that I’m getting now, they are reworking it and coming out with a new PLI for the steel industry.
     
    BT: Stainless steel is created using scrap. So, where do you source your raw material from?
    AJ: Stainless steel is the most sustainable material because it is 100 per cent recyclable and contributes to a circular economy. We use more than 85 per cent of scrap in one production. For this reason, we are completely focused on scrap (which is also a global phenomenon).
    We source our scrap from all over. It is mainly domestic and nearby countries. South East Asia, Middle-East, and India contribute to 70-75 per cent of our scrap consumption. The remaining 20-25 per cent comes from the US and Europe.
     
    BT: How much of it is coming from India? And do you see this growing?
    AJ: India, you can say, is almost 45 per cent.  And yes, especially with government – the kinds of policies that they coming out with are helping and supporting this. Now they are coming up with the National Scrap Recycling policy, which will definitely help in terms of getting more scrap available to the Indian ecosystem.
     
    BT: Even though you don’t use coke for melting, your process of sourcing the scrap (raw material) is heavy on carbon emissions. What initiatives have you taken to reduce your carbon footprint?
    AJ: Manufacturing through the scrap route is relatively low on carbon emission.
    We (have) already announced that we are not going to be investing in any more thermal power plants. We are setting up and investing in almost 300 megawatts of renewable capacity in Odisha, Harayana, and Rajasthan. We are also going to commission a green hydrogen project in Hisar that will enable the company to reduce its carbon dioxide emissions by nearly 2,700 metric tonnes per annum.
    We have also looped in EY India for charting out a dynamic plan to achieve our ESG and decarbonisation goals.
    For all our expansion, we require a lot of energy that will all be met through renewable sources.

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  • Grain worker killed in Stonington train crash

    Grain worker killed in Stonington train crash

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    1 dead in train derailment

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  • Putin threatens Europe again as Brussels braces for winter

    Putin threatens Europe again as Brussels braces for winter

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    The EU’s energy crisis response is getting bigger, slowly. But so, too, is the threat posed by Russia’s freeze on Europe’s gas supply.

    A new package of measures to bring down the price of gas and protect consumers this winter and beyond — including plans to fully leverage the EU’s collective buying power — will be formally proposed by the European Commission next week.

    But there remains uncertainty about key aspects of the package — including whether the preferred intervention of many countries, an EU-wide cap on gas prices, will be part of it, and if so, in what form. It could also take until November to get next week’s proposals fully signed off and operational, officials said.

    Even as energy ministers deliberated over the measures in Prague on Wednesday, Russia issued new, veiled warnings about the depths of Europe’s vulnerability.

    Speaking at an energy conference in Moscow, the head of Gazprom Alexey Miller warned European homes could still freeze this winter even though EU countries have nearly filled their gas storage capacity.

    At the same event, Vladimir Putin discussed the sabotage of the Nord Stream pipelines — an act that many Western governments suspect was the work of Russia. Then he added pointedly that the incident had shown how “any critical infrastructure in transport, energy or communication infrastructure is under threat — regardless of what part of the world it is located, by whom it is controlled, laid on the seabed or on land.”

    Noting that one of the pipelines is still potentially operational after the attack, Putin insisted Russia was ready to send gas through it to ease Europe’s pain this winter — bringing his overarching strategy of gas blackmail against Europe right up to date.

    “The ball, as they say, is on the side of the European Union. If they want it, let them just open the tap,” Putin said. “We are ready to supply additional volumes in the autumn-winter period.”

    Putin may still be hoping that when the reality of winter without Russian gas begins to bite, European governments will be more open to such overtures ­— and more willing to rein in support for Ukraine in exchange for an energy lifeline.

    For the EU’s part, Energy Commissioner Kadri Simson was clear that while the bloc faced “difficult times,” countries would withstand the challenges ahead if they “act together, decisively and in solidarity.”

    Speaking at the close of an informal summit of EU energy ministers on Wednesday, she added that the next crisis package will also contain a proposal for a new benchmark price for gas and further measures to reduce demand across the bloc.

    But while a row over capping the price of gas has dominated the debate in recent weeks, momentum has shifted to the idea of joint purchasing on the international market. It is hoped that through this measure the bloc can avoid the situation seen this year when member states outbid one another for supplies when filling gas storage facilities ­— driving up the price for all.

    European Commissioner for Energy Kadri Simson | John Thys/AFP via Getty Images

    In an informal policy paper issued on Wednesday, Germany and the Netherlands set how such a measure could work, by beefing up the existing EU Energy Platform, which was established months ago but then barely used. Efforts to buy gas jointly should be coupled with better EU-wide coordination of gas storage next year, the German and Dutch paper said.

    The proposals point to the extent to which the EU is no longer simply planning how to survive this winter without rolling blackouts. It’s now firmly planning for a crisis next winter too.

    Executive Director of the International Energy Agency Fatih Birol, who also attended Wednesday’s summit in Prague, warned ministers that “the next winter may well be even more difficult.”

    That message was echoed in a sobering briefing from the EU Agency for the Cooperation of Energy Regulators, which outlined how challenging 2023 and potentially 2024 could be for the bloc’s energy supply. Amid an expected surge in demand in Asia for liquefied natural gas (LNG), the EU will face greater competition for limited LNG supplies from sources such as the U.S. and Qatar.

    In short, every molecule of gas that remains in European storage after this winter might be vital — and Vladimir Putin knows it.

    Victor Jack and America Hernandez provided additional reporting.

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    Charlie Cooper

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  • Moscow rushes to repair Crimean bridge after fiery explosion

    Moscow rushes to repair Crimean bridge after fiery explosion

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    Russia is rushing to repair the bridge connecting occupied Crimea to Russia after a major blast on Saturday, in an attempt to downplay the attack.

    Suburban train lines are scheduled to start running again on the Kerch Bridge as of 7 p.m. local time, according to a message from the Russian Transport Ministry posted on Telegram Sunday. Long-distance freight and passenger trains on the bridge already “are moving according to the standard schedule,” the ministry said.

    The fiery explosion Saturday morning marked a huge symbolic blow against Russian President Vladimir Putin, who grabbed Crimea from Ukraine in 2014 and started building the bridge connecting the Ukrainian peninsula to Russia that same year.

    “This incident will likely touch President Putin closely,” the U.K. Ministry of Defense said in analysis published on Sunday, since the blast happened “hours after his 70th birthday” and his childhood friend Arkady Rotenberg built the bridge.

    Putin tightened security for the bridge after Saturday’s explosion, and he ordered a government commission to investigate the damage. The initial report from Moscow’s inspection of the bridge is due later Sunday.

    Meanwhile, the Russian Foreign Ministry appeared to be downplaying the blow as it tweeted a video of the Kerch Bridge with traffic flowing. Despite Moscow’s message of business as usual, the U.K.’s Defense Ministry said that transport “capacity will be seriously degraded” on the bridge.

    “The extent of damage to the rail crossing is uncertain, but any serious disruption to its capacity will highly likely have a significant impact on Russia’s already strained ability to sustain its forces in southern Ukraine,” the U.K. ministry said.

    Russia’s Ministry of Transport wrote on Telegram Sunday that vehicles containing perishable goods would be given priority on ferries crossing the Kerch Strait.

    The Ukrainian government so far hasn’t been commenting about the origins of the apparent bombing. Ukraine’s Deputy Foreign Minister Emine Dzheppar posted a picture of the collapsed bridge section on Saturday with the hashtag #CrimeaIsUkraine.

    Over the past few weeks, Ukraine has been leading a counteroffensive against Russia and regaining territory and towns held by Moscow. Kyiv is now asking for more Western weapons, including air defense systems. The Kremlin signalled on Sunday that if the West were to provide Ukraine with heavier long-distance arms, Russia would retaliate.

    “Deliveries of long-range or more powerful weapons to Kyiv” would cross Russia’s “red lines,” Russian foreign affairs official Aleksey Polishchuk told the country’s state-owned news agency TASS on Sunday.

    Ukrainian Foreign Minister Dmytro Kuleba renewed the call for additional defensive systems on Sunday, after at least 17 people were reported killed overnight by Russian shelling on the city of Zaporizhzhia.

    “Russia continues its missile terror against civilians in Zaporizhzhia,” Kuleba said in a tweet. “We urgently need more modern air and missile defense systems to save innocent lives. I urge partners to speed up deliveries.”

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    Sarah Anne Aarup

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  • Elon Musk Sends Scathing Message to Tesla Investors

    Elon Musk Sends Scathing Message to Tesla Investors

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    Elon Musk is not a Chief Executive Officer like the others. 

    Tesla’s  (TSLA)  boss is atypical. 

    He refuses to obey the rules often imposed on executives of public companies.

    The billionaire did not hesitate to relaunch the showdown with the U.S Security and Exchange Commission (SEC) despite a 2018 settlement with the regulator.

    In September 2018, the two sides agreed to end an investigation into a tweet from Musk, posted on August 7, 2019, that caused the price of Tesla shares to fall.

    “Am considering taking Tesla private at $420. Funding secured,” the billionaire wrote at the time.

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  • Auburn student dragged by school bus after getting arm caught in door

    Auburn student dragged by school bus after getting arm caught in door

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    Student dragged after getting caught in bus door

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  • Austin Pets Alive! | Together with You, We Transport to Save Lives

    Austin Pets Alive! | Together with You, We Transport to Save Lives

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    Dec 08, 2021

    We’ve always known that pets are at greater risk in Texas than in other states.

    Due to the climate causing more breedings and a lack of resources in rural parts of the state, shelters are always facing an influx of pets that need homes. It wasn’t until a storm rocked everyone’s worlds in Texas that we’d find a solution on how to help save these deserving lives.

    The idea was born out of Winter Storm Uri. Pets needed to get out of Texas — fast. Their lives were at risk and the clock was ticking. It was then that APA! – with its national outreach arm American Pets Alive! – set out on a mission to get 1,000 pets out of Texas into warm homes safely, and that we did.

    In a matter of just four weeks, we hit our goal with our 1,000th pet being an adorable cat named Charlie. Charlie traveled all the way from Laredo, TX to KC Pet Project in Kansas. His journey up north was made special by having a first-class seat in a private plane flown by our volunteer pilot friend, David Nelson. Once he landed at KC Pet Project, it was only a matter of days until he found his forever home. Read how he found his family once he landed in KC.

    The success of this mission opened the door for a new idea. Why would we stop at just 1,000 lives when we could continue to save pets from all over Texas who are facing death? APA! could act as a pit stop for these pets while they await the transportation that would take them to various states across the country. And so, the APA! Hub Transport Program was born.

    Our transport team connects with shelters in Texas that are facing a lack of resources and space which often lead to the unwanted decision to euthanize their animals. Now we’re able to provide them with an alternative. Northern shelters often face the opposite problem. Due to the weather, in the winter months, many shelters have rows and rows of empty kennels with lines of people waiting to adopt. There’s no reason animals should die in the south when there are people waiting to adopt a shelter pet in the north.

    “The APA! Hub Transport Program embodies the true spirit of Austin Pets Alive, through innovation, resourcefulness and the constant dedication to lifesaving,” says Clare Callison Maddie’s® National Director of Pet Supply & Demand. “Through this program, we are able to bring our hard-working Texas shelter partners into the national pipeline of support. It means so much that we are not only saving the lives of cats and dogs in Texas shelters, but we are helping to connect adopters to the love of a shelter pet, no matter where they live in the country!”

    All the faces you see here are animals that were saved thanks to your support of our transport programs. Whether it was by bus, plane, train, or car, these lives found their second chance in loving homes all across the United States. They were welcomed with open arms as people lined up to bring them home.

    As of yesterday, 2,228 lives have been saved through the Austin Pets Alive! Hub Transport Program and American Pets Alive! transport work. Lives that were once going to end before they had a chance to even begin now get a fresh start in a new state. Together with you, we can ensure that no pet in Texas ever gets left behind. Rush a donation now to ensure pets like these pups get the chance to be rescued from euthanasia at rural, overcrowded shelters and adopted in homes. Your gift will be DOUBLED until December 31, thanks to a generous $100K matching gift, so don’t wait to become a lifesaver today!

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  • Austin Pets Alive! | Austin Pets Alive! & American Pets Alive! Fly 41…

    Austin Pets Alive! | Austin Pets Alive! & American Pets Alive! Fly 41…

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    Oct 21, 2021

    At 4 a.m. on Sunday, our transport team loaded 41 dogs on a plane to safety.

    These pets came from nine overcrowded, under-resourced Texas animal shelters where they faced death. Caramel, Roux, Penn, Crimson, and 37 other dogs were flown to shelters in Idaho, Utah, and Colorado, to be adopted into loving homes.

    Austin Pets Alive! and American Pets Alive! coordinated this lifesaving transport, connecting the Texas shelters with receiving organizations Animal Friends Alliance, Idaho Humane Society, Freedom Bound Hounds, My Second Home Rescue, and Paws for Life Utah.

    Thank you to KVUE for sharing the story and spreading awareness about how our rescue transport saves lives!

    Our Town Lake Animal Center campus is a connection hub, where we give medical exams to the pets before they are transported to their new homes. (We gave them some sweet kisses and belly rubs, too.)

    Our friends at Dog Is My CoPilot delivered all of these pups to the final stops on their journey to finding new families. Our rescue transport was supported by Cuddly.com, Petco Love, and PEDIGREE Foundation.

    American Pets Alive! is the nationwide educational and outreach program of Austin Pets Alive!

    APA! is a leader in No Kill sheltering in Austin—America’s largest No Kill city—helping under-resourced animal shelters in our home state of Texas give pets a chance at the life they deserve through rescue transports, lifesaving programs, assisting with medical crises, and so much more.

    AmPA! brings these innovative programs designed to save the most at-risk homeless companion animals to the country as a whole. These are programs we have been innovating, growing, implementing, and sharing for over a decade.

    Our work in Austin directly saves lives here and across the country, and serves as a model and inspiration for establishing and sustaining a No Kill community.

    Rescue transport and crisis response are critical ways we do this work. Our innovative approach to transport is a lifesaving solution to move at-risk animals to areas with higher adoption demand.

    “We have been working hard to help Texas shelters improve existing lifesaving programming and launch new initiatives. However, many of these shelters are not in a position to improve their current operations when every kennel is full and they are struggling to get through each day,” said Clare Callison, American Pets Alive!, Maddie’s® Director of National Pet Supply and Demand.

    “By being able to connect these Texas shelters into the national pipeline of transport support, we are able to save lives, open more kennels, and start building lasting program support.”

    Thanks to this rescue mission, 41 dogs now have a second chance at life, in their new homes. What we do here in Austin, saves lives across the nation.

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  • Austin Pets Alive! | Shelter Support: How Austin Pets Alive! Helps…

    Austin Pets Alive! | Shelter Support: How Austin Pets Alive! Helps…

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    Jul 02, 2021

    Each year, we save thousands of lives of pets right here in Austin and Travis County, and in the counties immediately surrounding Austin. We also provide support, education, and animal transport guidance to shelters all over Texas and beyond. Our ultimate goal is to focus on animals who, without APA’s help, would die or face being killed in a shelter. For this reason, we ask shelters we support to do everything they can to keep as many pets as possible in their homes and communities, in order to reduce shelter intake. We also ask that they learn and follow American Pets Alive! best practices, in order to save as many lives as they can and to serve as many pets as possible within their own cities and towns.

    Consultations: Our American Pets Alive! instructors are proven professionals, with a decade or more of experience in the animal welfare field. We offer consultative support for shelters, in order to make recommendations to streamline operations, increase lifesaving, prevent needless pet intakes, and keep all shelter pets healthy. If our team does help your organization transport pets OR if we ‘pull’ animals from you into our organization, we ask that you receive and implement recommendations from our AmPA! team so you can achieve long term solutions to the root causes of the challenges in your organization.

    Transport: If your shelter faces chronic overcrowding and you are severely limited on resources to save them, our team can assist you in finding viable transport solutions. Transport is not a ‘magic’ solution to difficulties faced by underfunded, high-volume shelters, but it can be tremendously helpful for some organizations. Here is an example of how El Paso Animal Services is utilizing transport to prevent overcrowding. Reach out if you have a question about how we can help you create a transport relationship with a receiving shelter, get connected to existing transport solutions, or ask anything else about transport.

    Transfers to Austin Pets Alive!: In some cases, we may be able to take animals into our organization, with most pets arriving in Austin and heading immediately to loving foster homes. We primarily focus on animals who do not have any other viable options, including pets with contagious illnesses, injured and sick animals, pets with special needs, and in some cases, pets who are otherwise healthy but face imminent euthanasia for any reason. These spaces are very limited, and the need always exceeds our ability to help. If you need help, or are an organization that wants to contribute to our efforts, contact us.

    What we ask our partner organizations: Thanks to the generosity of Maddie’s Fund Family Foundation, as well as the tireless support from our Austin community, we are able to offer support and guidance free of charge. Our team is made up of just a few folks and we’re aiming to help organizations all over the nation, so we ask our partners to be part of the solution. If we assist your organization in any way, we ask you to commit to the following:

    1. Follow recommendations (to the very best of your ability) of our AmPA! instructors. They help hundreds of shelters annually and they know their stuff!
    2. Become a Human Animal Support Services partner shelter. HASS is a collaborative of more than 500 organizations and 1,000 animal welfare professionals working together to solve today’s toughest animal welfare challenges.
    3. Implement emergency space protocols and AmPA!’s other proven protocols.
    4. All levels of the organization work alongside our team to help solve the root causes of your challenges so in the future, we can focus on other shelters in crisis.

    What AmPA!-supported shelters have to say:

    “AmPA! brings hope. Animal Welfare is a very emotional and lonely existence. Even with us all being in the same field of work, AmPA! gives validation and hope to our everyday lives at the shelter and on the streets.”

    “Our live outcomes have changed drastically! Before AmPA! training our local shelter was as 33% live release, since June 2019 it has been at 90+%!”

    “The best part of AmPA! visits is how inspired our staff is after they leave. We are a rural small non-profit so being able to see the big picture has been game changing for our team.”

    “I appreciate that you provide one on one conversations to help with specific questions and problems in OUR shelter. It’s better than doing research because a live person is hearing your issues and giving ideas on what to do next.”

    “Our staff LOVES when AmPA! staff visit. All the AmPA! staff who have visited us are members of our internal organizational page and often participate. Our team gets so excited when they visit and everyone learns so much while they are here. Most of our staff have had no prior exposure to the national scene so feeling a part of a larger movement has been great for their self-identities and commitment to our organization. The presence of AmPA! staff has been invaluable.”

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  • Austin Pets Alive! | Austin Pets Alive! Hits Goal of 1,000 Shelter…

    Austin Pets Alive! | Austin Pets Alive! Hits Goal of 1,000 Shelter…

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    Mar 23, 2021

    AUSTIN, TX — On Wednesday morning March 24th, Austin Pets Alive! placed 27 cats onto a private plane bound for Wichita, KS, culminating a weeks-long effort to transport 1,000 at-risk pets to safe shelters in the aftermath of Winter Storm Uri. This is the third transport flight that David Nelson, the owner and pilot of the plane, has donated on APA!’s behalf. By offering his plane, fuel, time and resources, David has played an integral role in APA!’s transport missions that began in late February.

    Charlie, the 1,000th animal transported.

    Upon landing in Wichita, the kitties will be met at the receiving airport by staff members from KC Pet Project, who will then drive the cats the rest of the way to their shelter to be put up for adoption. This feline-focused transport represents a significant milestone that was only made possible through the support of countless volunteers, donors, and animal welfare advocates.

    Map updated 3.23

    After the devastating winter storm that hit Texas just a few weeks ago, APA! responded to urgent pleas for help from small, rural shelters across the state that lacked resources to care for all the pets that were suddenly arriving through their doors. The APA! Town Lake facility became a central transport hub for these pets in need, while shelter partners across the country organized the next leg of transportation to reach their final destinations. From Florida to Washington to Massachusetts, animal shelter staff across the continental U.S. welcomed these vulnerable pets with open arms, providing safe shelter and care to get them ready for adoption within their respective new communities.

    Additional photos and videos of this transport are available for press upon request. Please contact [email protected]

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  • Austin Pets Alive! | Austin Pets Alive! Flies to Rural West Texas,…

    Austin Pets Alive! | Austin Pets Alive! Flies to Rural West Texas,…

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    Mar 09, 2021

    AUSTIN, TX — Austin Pets Alive! coordinated the rescue and transport of 1 dog and 13 cats by plane today. With the help of private pilot David Nelson, the flight to Alpine, Texas and back to Austin saved the 14 pets at-risk of euthanasia from two shelters as part of APA!’s aim to save 1,000 pets in shelters facing tough times in the aftermath of the recent Texas winter storms.

    Map updated 3.8

    These pets are from Alpine Animal Services and Marathon Animal Shelter, both small, rural shelters lacking resources to care for all the pets that enter their doors. Austin Pets Alive!, through the generosity of donor Nelson, flew to the Alpine area to pick up these pets and return them to Austin before transporting them to shelter partners in Michigan, Chicago, and the DC area later this week.

    6-year-old pup George, who was brought back on the lifesaving flight

    This roundtrip, same day flight is crucial to lifesaving. Where it would normally be a 12-13 hour day of driving for volunteer transporters, the flight there and back will take just a few hours. Available vehicles, drivers, and funds have historically been major barriers to getting pets in these rural areas to safety, so David’s time, plane, and willingness is invaluable.

    This is David’s second lifesaving flight for Austin Pets Alive! in less than two weeks. In late February, David and APA! flew to Harlingen and Laredo in one day. On that rescue mission, David met and transported a dog named Wagon, who he fell in love with and had to add to his family.

    Jennifer from Alpine Animal Services loading two cats on the plane

    Texas shelters who need help getting pets out as well as shelters that are able to transport and/or receive cats and dogs should contact [email protected]. The biggest need at this time is for organizations that can safely transport pets. To help make these transports happen, people are encouraged to give to Austin Pets Alive! here.

    Additional photos and videos of this transport are available for press upon request. Please contact [email protected]

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  • IIMMLA Starts Expansion Into Chinese Market in 2019

    IIMMLA Starts Expansion Into Chinese Market in 2019

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    Press Release
    –


    updated: Aug 22, 2017


    St. Petersburg, Russian Federation, August 22, 2017 (Newswire.com)
    –
     IMMLA will start expanding its presence in the Chinese market during 2019. This resolution was carried considering strong demand and incredible opportunities of Chinese supply chains being the source of IMMLA’s breakthrough growth.

    Previously, IMMLA planned to enter the Chinese market in 2021.

    The Chinese market is very challenging in view of available investment potential and foreign trade volumes. We’re launching the Chinese version of our website in order to focus on generating resources and developing representation on the Chinese market.

    Kirill Tulenev, IMMLA CEO

    At the current moment, IMMLA negotiates with various Chinese partners concerning their participation as advisers and sharing expertise referring to service development. Also, our team attracts the Chinese community for supporting projects and disseminating information about IMMLA in China.

    IMMLA’s strategy for the Chinese market will be announced in White Paper ver. 2.0 scheduled for publishing in the first half of September 2017. Research made by IMMLA analysts showed that opportunities of the Chinese market are wider than expected. It may considerably increase total investments raised during ICO.

    IMMLA starts its Chinese campaign by launching the Chinese version of its website on 20 August, 2017.

    “The Chinese market is very challenging in view of available investment potential and foreign trade volumes. We’re launching the Chinese version of our website in order to focus on generating resources and developing representation on Chinese market”, IMMLA CEO Kirill Tulenev said.

    IMMLA is a consortium of leading logistics services and IT companies including SBSolutions, Formag Forwarding and experts from Hellman Worldwide Logistics.

    IMMLA’s mission is to ensure safe and convenient interaction between the cargo owner and the transporter on all stages of the transportation process based on Ethereum blockchain and smart-contracts. The new technology will allow to drastically minimize the problem of trust, information barriers and legal issues.

    More details about the project can be found in White Paper and IMMLA social media pages –Facebook, Twitter, Reddit, and Medium as well as in a specialized thread on Bitcointalk.org forum and on our channel on Telegram.

    Source: IMMLA

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