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Sep 26, 2017 11:47 AM IST IST | Source: Moneycontrol.com
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highlights
Former US Senator Larry Pressler suggested that both India and the US conduct pre-emptive strikes inside Pakistan to destroy its nuclear sites, reports The Times of India.
Prime Minister Narendra Modi has set up an economic advisory council as concerns grow about a slowdown in Asia’s third largest economy. The new council, headed by Bibek Debroy, a member of Modi’s federal think tank Niti Aayog, will address “issues of macroeconomic importance” and present its views to the prime minister.
The Asian Development Bank raised its outlook for China’s economic growth this year on the back of strong domestic consumption, an export recovery and solid growth in services, reports Reuters. ADB now expects China’s economy to grow 6.7% in 2017, up from a previous projection of 6.5% made in April. The 2018 growth forecast was also raised to 6.4% from 6.2%.
North Korea has been moving airplanes and boosting defences on its east coast after the United States dispatched B-1B bombers to the Korean peninsula over the weekend, South Korea’s Yonhap News Agency reported on Tuesday. The United States seemed to have disclosed the flight route of the bombers intentionally because North Korea seemed to be unaware, the report said. South Korea’s National Intelligence Service was unable to confirm the report immediately.
North Korea’s foreign minister said President Donald Trump had declared war on North Korea and that Pyongyang reserved the right to take countermeasures, including shooting down US bombers even if they are not in its air space, reports Reuters. Ri Yong Ho said a Twitter message by Trump on Saturday, in which the president warned that the minister and North Korean leader Kim Jong Un “won’t be around much longer” if they acted on their threats, amounted to a declaration of war. White House spokeswoman Sarah Sanders on Monday denied the United States had declared war, calling the suggestion “absurd”.
Instant messaging service WhatsApp has been largely blocked in China. The Open Observatory of Network Interference (OONI), a global observation network for detecting censorship, surveillance and traffic manipulation, suggested on Monday night that Chinese internet service providers started blocking access to WhatsApp on September 23, reports CNN.
Top Headlines:
1. North Korea says US declared war, US denies claim, reports Reuters
2. North Korea moving airplanes, boosting defence after US bomber flight, reports Yonhap
3. Govt reconstitutes Economic Advisory Council to revive GDP growth
4. ADB raises China's 2017 growth forecast to 6.7% on consumption, exports boost, reports Reuters
5. Former US Senator Larry Pressler suggests India and the US conduct pre-emptive strikes inside Pakistan to destroy its nuclear sites, reports The Times of India.
6. WhatsApp blocked in China, reports CNN
7. Rupee has hit a six month low of 65.24 against the dollar as geopolitical tensions weigh
Asian Development Bank has downgraded India's growth projection to 7% for the current fiscal while lowering its forecast for the next financial year as well, reports PTI. "India's GDP growth is downgraded to 7% in financial year 2017-18, a 0.4 percentage point drop from the April forecast. In financial year 2018-19, the forecast is adjusted down to 7.4%, from 7.6%," ADB said.
Today is former Prime Minister Dr Manmohan Singh’s birthday. Singh was born in Gah in undivided Punjab on this day in 1932.
The Delhi High Court agreed to hear the anticipatory bail plea of Honeypreet Insan, who is wanted by the Haryana Police in connection with incidents of violence following conviction of the Dera Sacha Sauda chief, reports PTI. The plea for urgent hearing of Honeypreet's application was mentioned before Acting Chief Justice Gita Mittal and Justice C Hari Shankar who sought to know why they are "super-excited now".
US Commerce Secretary Wilbur Ross told China there was a need for “meaningful action” on key trade issues, according to a Commerce Department statement issued on Tuesday. Ross also reiterated to Chinese officials in Beijing about US businesses’ concerns over forced technology transfers and data localisation requirements in China.
An earthquake with a magnitude of 6.5 magnitude struck off Fiji on Tuesday but there was no threat of a tsunami, the Pacific Tsunami Warning Center (PTWC) said. The quake, at a depth of 104 km, was south of the Fijian islands in the South Pacific, the Hawaii-based organisation said.
TTV Dhinakaran has claimed that jailed AIADMK leader Sasikala had shot a video of former Tamil Nadu Chief Minister before her death, reports CNN-News18. Dhinakaran said he will submit the same before any probe agency, including the CBI. Dhinakaran said his family has the video of hospitalised Jayalalithaa shot by Sasikala. He also claimed it had not been released so far since Jayalalithaa at that time was clad in a “nightie”.
The US apartment vacancy rate increased marginally in the third quarter from the second, according to a report from Reis. The vacancy rates increased in 50 of 79 metros as many saw high construction that exceeded demand, the real estate research firm said. The national vacancy rate rose slightly to 4.5% in the third quarter from 4.4%, reports Reuters.
A shooting incident took place on Tuesday close to the Manila residence of Philippine President Rodrigo Duterte, a spokesman for his security detail said, but an official from the presidential palace said Duterte was not there at the time, reports Reuters. The incident took place in Malacanang Park, the base of Duterte’s guard unit and close to his Bahay ng Pagbabago residence, Presidential Security Group spokesman Mike Aquino said.
Army chief General Bipin Rawat said surgical strikes on terror launch pads across the Line of Control (LoC) could be repeated if Pakistan does not mend its ways, reports CNN-News18.
Panchkula Police are conducting raids at A9 GK Enclave in Delhi in search for Honeypreet Insan, reports CNN-News18. Priyanka Taneja alias Honeypreet, the adopted daughter of the jailed of Dera Sacha Sauda chief Gurmeet Ram Rahim Singh, tops the list of 43 persons 'wanted' by the Haryana Police in connection with incidents of violence that had followed Ram Rahim's conviction in two rape cases.
Which stocks and sectors are on the wish-list of foreign and domestic brokerages today, click here to find out
The rupee has hit a six month low of 65.24 against the dollar as geopolitical tensions weigh.
To read about all the stocks that will be in news today, click here
To know what to expect in the market watch video below
BJP leaders have exuded confidence that it will secure the 19 seats required for forming the board in the Municipal Corporation of Gurugram (MCG), reports The Financial Express. BJP had managed to win 14 seats fielding candidates in all 35 wards. 20 independent candidates and Indian National Lok Dal candidate have won during the elections held on September 24.
Former US Senator Larry Pressler suggested that both India and the US conduct pre-emptive strikes inside Pakistan to destroy its nuclear sites, reports The Times of India.
Security forces foiled an infiltration bid by terrorists early Tuesday morning in the Zorawar area of Uri district in Jammu & Kashmir. As per an ANI report, at least one terrorist was killed and a weapon recovered. Operations are still underway. Earlier on Monday, four terrorists were killed at Kalgai village, near the Line of Control in Uri sector. Three militants were killed in a joint operation on Sunday, and one was killed on Monday in a combing operation.
Japanese Finance Minister Taro Aso said the government would need to craft a new time frame for achieving its budget-balancing goal, currently set at fiscal 2020-21, reports Reuters. He made the remarks a day after Prime Minister Shinzo Abe announced he would redirect some revenue from a planned sales tax hike in 2019 to child care and education rather than paying back public debt. Abe admitted that would make it difficult to meet the government’s aim of balancing the budget - excluding debt-servicing costs and new bond sales - by the year ending in March 2021.
The Reserve Bank of India has barred banks from investing in category III alternative investment funds. It also specified norms for their participation in commodity derivatives clearing, and tweaked rules on investing in financial services firms.
The rupee on Monday crashed to a six-month low at 65.12 to the dollar — a level last seen on March 24, and down 0.5% from its Friday’s close of 64.80. The home currency weakened after local equity markets fell for the fifth consecutive session.
Prime Minister Narendra Modi launched a Rs 16,320 crore scheme to fund the cost of last-mile connectivity to households that are still not on the power grid. The Pradhan Mantri Sahaj Bijli Har Ghar Yojana, or Saubhagya, complements the government’s aggressive village electrification programme, the Deen Dayal Upadhyay Gram Jyoti Yojana launched in July 2015, under which 78% of 18,000 villages have been electrified.
The government is planning measures to revive economic growth, Finance Minister Arun Jaitley said on Monday.
Prime Minister Narendra Modi has set up an economic advisory council as concerns grow about a slowdown in Asia’s third largest economy. The new council, headed by Bibek Debroy, a member of Modi’s federal think tank Niti Aayog, will address “issues of macroeconomic importance” and present its views to the prime minister.
The price of bitcoin rose sharply on Monday with its price spiking up 7% midday, according to CoinDesk market data. The price of the cryptocurrency is up nearly 300% year to date. Bitcoin is still under the USD 4,000 level, which it broke through after JPMorgan CEO Jamie Dimon said on September 12 that the cryptocurrency is a "fraud" that will eventually blow up.
After aiming its weapons at the US capital, North Korea's propaganda is now presenting the destruction of military targets, US fighter jets and supercarriers, reports CNBC. A video released by the state-controlled website DPRK Today opens with images of President Donald Trump giving a speech on the occasion of the US Air Force's 70th Anniversary at Joint Base Andrews, with ominous music playing in the background and text branding Trump a "madman."
The video then moves on to show ground-launched and submarine-launched North Korean missiles targeting the US F-35 and B-1B aircrafts as well as the USS Carl Vinson, a nuclear-powered flattop. Doctored images show both the jets and the vessel going up in flames, as well as the burning of an American flag on the backdrop of white crosses typical of American cemeteries.
Here's what a former ambassador thinks would happen if the US strikes North Korea from CNBC.