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Oct 06, 2017 01:17 PM IST IST | Source: Moneycontrol.com
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Five Dera Sacha Sauda supporters in police custody have claimed that Gurmeet Ram Rahim Singh's 'adopted' daughter Honeypreet Insan had masterminded and funded the August 25 violence in Panchkula, reports CNN-News18. In their statement, the supporters said that Honeypreet provided funding to the sect's supporters in Panchkula and sanctioned Rs 1.25 crore ahead of verdict day. She chaired the meeting on August 17 in Sirsa to plan the violence.
The country's Aadhaar push has intensified further with the government making mandatory biometric identification Aadhaar for all post office deposits, Public Provident Fund (PPF), the National Savings Certificate scheme and Kisan Vikas Patra. Exisiting depositors have been given time till December 31, 2017 to provide the 12-digit Aadhaar number. The Finance Ministry issued the directive in four separate gazette notifications.
Devalue rupee or provide stimulus: India faces difficult choices in bid to boost growth. Ajay Bodke of Prabhudas Lilladher delves deeper
Pakistan's Foreign Minister Khawaja Asif warned India against carrying out surgical strike or targeting its nuclear installations, saying if that happens nobody should expect restraint from his country, reports PTI. Referring to the statement of India's Air Chief Marshal BS Dhanoa that the Indian armed forces are ready for a full spectrum operation, Asif said Pakistan wants to live in peace and harmony with its neighbours. But if India carries out any surgical strike in Pakistan or strikes at its nuclear installations "nobody should expect restraint from us", he warned.
How did Xi Jinping go from being a provincial politician to China's paramount leader in such a short period of time? Bloomberg looks at the life of China's 7th President and his campaign against dissent.
Prime Minister Narendra Modi is running out of time to turn around India’s $2.3 trillion economy before impending elections, leaving the party reliant on "good marketing" to win over voters, a former Indian finance minister and member of the ruling party told Bloomberg. India’s cash ban and the "poorly planned" implementation of a national sales tax have slowed growth, hurt job creation and will threaten Modi’s administration in upcoming state and federal polls, Yashwant Sinha, finance minister under former Bharatiya Janata Party Prime Minister Atal Bihari Vajpayee, said.
With both businesses and farmers suffering, Modi will face voters who are angry about the lack of job growth, Sinha said in his home just outside New Delhi, noting the prime minister will "have to take the entire blame" himself. "We will be judged by the promises we made," he said. "They’re backslapping each other and convincing the people that everything is hunky-dory. But let’s see what the people think."
China is pumping money into countries around India, but there are ways New Delhi can hit back. India must play to its strengths instead of attempting to match Chinese capital, a panel of experts at the World Economic Forum's India summit said in response to CNBC's question on the topic.
Kishore Biyani's Future Retail is set to acquire Shoppers Stop's loss making supermarket chain HyperCity for over Rs 650 crore. HyperCity will become a wholly owned subsidiary of Future Retail once the deal is completed in the next three to five months.
Uday Kotak-led Sebi committee on corporate governance has submitted its report. The committee has recommended splitting of roles of Chairman and MD-CEO for listed companies. It has also suggested that independent directors should make up at least half of every company's board and should attend at least half of board meets. A minimum of six independent directors, including at least one woman director, should be appointed on the board of a listed company.
A formal induction is mandatory for every new independent director. The committee has proposed disclosure of the expertise of the directors being appointed, increasing the number of board meetings from four to five every year and capping the maximum number of directorships to seven by April 2020. The market regulator has sought public comments on the report and has set November 4 as the deadline for the same.
All eyes will be on the crucial GST Council meet today, which is likely to be chaired by Finance Minister Arun Jaitley. The government also plans to introduce slew of measures to reduce the compliance burden for small taxpayers struggling under the country's new indirect tax system, the Goods & Services Tax (GST) that was rolled out from July 1.
The GST Council may clear quarterly returns for small businesses. Also, the reverse charge mechanism may be deferred till March and registration for composition scheme reopened for the third time to March 31, 2018. The Council may also hasten tax refunds for exporters battling cash crunch and allow export refund via an e-wallet. Also on the agenda, is exemption from any retrospective enquiry into the previous value-added tax regime tax matters.
After discussing Iran and North Korea with US military leaders on Thursday, President Donald Trump posed for a photo with them before dinner and declared the moment “the calm before the storm.” What storm? “You’ll find out,” Trump told questioning reporters, reports Reuters.
Earlier in the evening, while seated with the top defence officials in the cabinet room, Trump talked about the threat from North Korea and preventing Iran from getting a nuclear weapon. “In North Korea, our goal is denuclearisation,” he said. “We cannot allow this dictatorship to threaten our nation or our allies with unimaginable loss of life. We will do what we must do to prevent that from happening. And it will be done, if necessary, believe me.”
Top Headlines:
1. Aadhaar now mandatory for post office deposits, PPF, and National Savings Certificate
2. The GST Council may announce steps to ease compliance burden on small businesses today
3. Devalue rupee or provide stimulus: India faces difficult choices in bid to boost growth
4. Modi must 'take blame' for India's jobs crisis: Yashwant Sinha
5. Pakistan warns India against a surgical strike on its nuclear installations
6. Honeypreet Insan masterminded Panchkula violence, sanctioned Rs 1.25 cr: Dera supporters tell police
7. AIADMK leader VK Sasikala gets five-day parole to meet ailing husband
Five Dera Sacha Sauda supporters in police custody have claimed that Gurmeet Ram Rahim Singh's 'adopted' daughter Honeypreet Insan had masterminded and funded the August 25 violence in Panchkula, reports CNN-News18. In their statement, the supporters said that Honeypreet provided funding to the sect's supporters in Panchkula and sanctioned Rs 1.25 crore ahead of verdict day. She chaired the meeting on August 17 in Sirsa to plan the violence.
The country's Aadhaar push has intensified further with the government making mandatory biometric identification Aadhaar for all post office deposits, Public Provident Fund (PPF), the National Savings Certificate scheme and Kisan Vikas Patra. Exisiting depositors have been given time till December 31, 2017 to provide the 12-digit Aadhaar number. The Finance Ministry issued the directive in four separate gazette notifications.
AIADMK leader VK Sasikala has been granted a five-day parole to visit his ailing husband M Natarajan. The 74-year-old had underwent a dual organ transplant in Chennai on Tuesday. Sasikala had sought a 15-day parole. TTV Dinakaran, her nephew, had arrived at Bengaluru Central Jail for the parole hearing. The Tamil Nadu police issued NOC to the Karnataka government for Sasikala's parole.
The Norwegian Nobel Committee will announce the winner of the 2017 Nobel Peace Prize in Oslo on Friday. The committee, which is appointed by the Norwegian parliament, will select the winner from a pool of 318 known and reported candidates.
Devalue rupee or provide stimulus: India faces difficult choices in bid to boost growth. Ajay Bodke of Prabhudas Lilladher delves deeper
Top Headlines:
1. Is Trump talk of 'calm before the storm' aimed at North Korea?
2. The GST Council may announce steps to ease compliance burden on small businesses today
3. Devalue rupee or provide stimulus: India faces difficult choices in bid to boost growth
4. Modi must 'take blame' for India's jobs crisis: Yashwant Sinha
5. Pakistan warns India against a surgical strike on its nuclear installations
6. Honeypreet Insan masterminded Panchkula violence, sanctioned Rs 1.25 cr: Dera supporters tell police
German industrial orders bounced back in August, rising more than expected on strong foreign demand, data showed on Friday, suggesting that factories will contribute to overall growth in Europe’s largest economy in coming months, reports Reuters. Factories registered a 3.6% increase in orders after contracts for ‘Made in Germany’ goods fell by an upwardly revised 0.4% in July, data from the Economy Ministry showed. The reading for August was the strongest monthly increase since December.
The National Company Law Tribunal dismissed the plea of ousted Tata Sons Chairman Cyrus Mistry seeking transfer of his case challenging the ouster to the New Delhi bench from Mumbai, reports PTI. The principal bench of the NCLT headed by Chairman Justice MM Kumar also imposed a cost of Rs 10 lakh on Mistry's two investment firms, which would be shared by both.
The Supreme Court put some searching questions on a plea seeking reopening of the investigation into the assassination of Mahatma Gandhi, reports PTI. After a brief hearing, a bench comprising Justices SA Bobde and L Nageswara Rao appointed senior advocate and former additional solicitor general Amrender Sharan as amicus curiae to assist the court in the matter.
Pakistan's Foreign Minister Khawaja Asif warned India against carrying out surgical strike or targeting its nuclear installations, saying if that happens nobody should expect restraint from his country, reports PTI. Referring to the statement of India's Air Chief Marshal BS Dhanoa that the Indian armed forces are ready for a full spectrum operation, Asif said Pakistan wants to live in peace and harmony with its neighbours. But if India carries out any surgical strike in Pakistan or strikes at its nuclear installations "nobody should expect restraint from us", he warned.
Former General Secretary of AIADMK VK Sasikala may get parole at 12 noon, reports CNN-News18. She is likely to stay at 181 Habibullah Road T Nagar, Chennai when she is released on parole. Disputed AIADMK Deputy General TTV Dhinakaran decided to apply for 15 days parole to Sasikala after consulting with her brother Dhivakaran last week. The reason given was that Sasikala's husband M Natarajan was in a critical condition admitted to Global Hospital in Chennai. The given reason does allow jail authorities to grant parole to Sasikala as she was not convicted for hard crimes like murder.
Saudi King Salman bin Abdulaziz brought 1,500 people, a golden escalator and his own carpets on his historic, four-day state visit to Russia, reports Bloomberg. The 81-year-old leader of the Gulf kingdom exited his plane late Wednesday and stepped out onto the special escalator he travels with. But something went wrong: It malfunctioned halfway down, and he had to walk the rest of the way. A cavalcade of cars sped the monarch to the center of the city, flanked by Russian police escorts.
A Saudi plane is traveling daily between Riyadh and Moscow to transport supplies, with 800 kg of food has been brought in. Members of the royal entourage also replaced some of the hotel staff with their own personnel, who know exactly how they like their coffee made. King Salman, who’s staying at the Four Seasons, also came with his own furniture. The Saudi government booked two entire luxury hotels for the visit: the Ritz Carlton and the Four Seasons.
Billionaire Adi Godrej sees India's economic growth rate, which has seen a dismal run, turning around much sooner than most expect, reports CNBC. "I expect that GDP growth rate will catch up in the July-September quarter, and it will be very good in the second half of the year," said Adi Godrej, the chairman of consumer goods conglomerate Godrej Group and reported possessor of a $2.8 billion net-worth.
An Indian Air Force MI17 V5 chopper with seven on board has crashed in Tawang, Arunachal Pradesh, reports CNN-News18. The crash occurred at 6:30am today and resulted in the death of all personnel on board.
How did Xi Jinping go from being a provincial politician to China's paramount leader in such a short period of time? Bloomberg looks at the life of China's 7th President and his campaign against dissent.
A group of HSBC Holdings currency traders in London and New York feverishly jumped ahead of a $3.5 billion client order after they were tipped off using the code words "my watch is off," a US prosecutor told a federal judge. The buying frenzy was launched after Mark Johnson, HSBC’s former global head of foreign exchange who the bank chose to lead the transaction, alerted the traders via phone call that was recorded, reports Bloomberg. Johnson is on trial for fraud.
Prime Minister Narendra Modi is running out of time to turn around India’s $2.3 trillion economy before impending elections, leaving the party reliant on "good marketing" to win over voters, a former Indian finance minister and member of the ruling party told Bloomberg. India’s cash ban and the "poorly planned" implementation of a national sales tax have slowed growth, hurt job creation and will threaten Modi’s administration in upcoming state and federal polls, Yashwant Sinha, finance minister under former Bharatiya Janata Party Prime Minister Atal Bihari Vajpayee, said.
With both businesses and farmers suffering, Modi will face voters who are angry about the lack of job growth, Sinha said in his home just outside New Delhi, noting the prime minister will "have to take the entire blame" himself. "We will be judged by the promises we made," he said. "They’re backslapping each other and convincing the people that everything is hunky-dory. But let’s see what the people think."
China has approved HP’s $1.1 billion purchase of Samsung Electronics’ printer business with certain restrictions, citing concerns about the US firm’s dominance of the domestic laser printer market, reports Reuters. HP announced the deal in September 2016, hoping to disrupt the $55 billion copier market by focusing on multifunction printers and more deeply embedding mobile and cloud printing technologies to its product solutions.
China has issued a travel advisory to its nationals visiting India, the first such warning after the Dokalam standoff, warning them about denial of visas to visit "restricted areas" like the Andaman and Nicobar Islands, reports PTI. The Chinese Embassy in India issued the advisory, the third in four months, for Chinese tourists in India. The warning was posted on the embassy's website on Tuesday, and detailed several situations the embassy handled recently in which Chinese tourists were denied entry or investigated while travelling in India.
Which stocks are on the wish-list of foreign and domestic brokerages today, click here to find out
Tencent Holdings is fast becoming one of the most influential and closely-watched investors in India’s internet business, as the Chinese giant looks to diversify outside its home market and match arch-rival Alibaba Group Holding in building a presence in India, reports Mint. So far, Tencent has invested $850-900 million in Indian start-ups, including $700 million in Flipkart. Tencent first invested in Indian start-ups in August 2015, when it led a $90 million round in digital health platform Practo Technologies Pvt. Its other investment is messaging app Hike. The company is also in advanced talks to invest $400-500 million in Ola (ANI Technologies Pvt).
Nearly 150,000 direct and indirect jobs in India's debt-ridden and loss-making telecom sector face "clear and present danger" of corporate downsizing, reports IANS. At present, the sector is burdened with astronomical debt -- nearly Rs 8 lakh crore by some estimates due to a slew of freebies which are being doled out by incumbent telecom players to retain their customer base.
Advent International and Temasek-backed Crompton Greaves and homegrown PE fund Everstone Capital are competing to acquire home appliances brand Kenstar in the final leg of the deal, reports The Economic Times. Both have submitted binding offers and are in negotiations with the Dhoot’s of Videocon to enter into exclusive talks.
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