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Feb 24, 2018 11:48 AM IST | Source: Moneycontrol.com
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Voting starts for Assembly by-polls in Madhya Pradesh
Voting for by-polls in the Mungaoli and Kolaras Assembly seats of Madhya Pradesh began at 8 AM today, a poll official told PTI. "An error was reported in the EVM machine in the beginning at booth number 57 of Kolaras, but it was rectified and polling began soon after," the official said. The by-polls were necessitated due to the death of Congress MLAs Mahendra Singh Kalukheda (Mungaoli) and Ram Singh Yadav (Kolaras).
A total of 22 candidates are in fray in Kolaras while 13 are trying their luck in Mungaoli. The total number of voters in the two constituencies are 2,44,457 (Kolaras) and 1,91,009 (Mungaoli).Mehul Choksi in a letter to employees: "I will face my destiny"
In a letter written to his employees, Mehul Choksi said that he did nothing wrong and ultimately truth shall prevail, reports CNN News18. Choksi, accused in a scam along with Nirav Modi, said in the letter, "I am facing a lot of problems due to the manner in which the multiple investigative agencies/ government agencies have started to create a havoc, hell-bent upon stopping the operations. I will face my destiny."
Asking his employees to look for new career opportunities, Choksi added "But, I do not want anybody to get even a shadow of adversity or injustice onto the people just because of their association with me. At this moment, the investigating agencies seem to be interested not in a fair investigation but in creating a fear psychosis within my employees. The kind of unfair treatment, unfair investigation, media frenzy and political statements are making me highly insecure about the safety of myself and my family members."
Unethical business practices a big problem: FM Arun Jaitley
Finance Minister Arun Jaitley commented on the PNB Fraud, "Cases of willful default is something which is much more than a business failure and also bank frauds. If you periodically have incidents like these, the entire effort of ease of doing business goes to background and these scars on the economy take the front seat. Unethical business practices are a big problem," reports CNN News18.
FM Jaitley added, "Instead of always looking at what government is doing, business houses have to look inward. Creating shell companies, round tripping money have gone on for decades. If a fraud is taking place in various branches of the banking system & not one employee raised a red flag, auditors looked the other way or did a casual job and the management remained unaware, it is worrisome for the country."
China absolutely killing US on trade, says Trump
US President Donald Trump has said that ties with China have improved, but also warned that the relationship could be derailed over trade disputes as Beijing is absolutely killing us on this, reports PTI.
The Trump administration has threatened tough action against China including punitive tariffs, sanctions and even a trade war. Tensions have escalated between Beijing and Washington in recent months, with China reporting a record USD 275.8 billion trade surplus with the US, contrary to Trump's goal to narrow the US trade deficit with China. The US Commerce Department recently recommended imposing heavy tariffs on China and other countries to counter a global glut in steel and aluminium. Beijing has warned it could take retaliatory action if necessary.
USA imposes 'heaviest-ever' sanctions on North Korea
US President Donald Trump today imposed the "heaviest-ever" sanctions on North Korea's shipping companies in a bid to prevent the reclusive nation from acquiring nuclear weapons and developing intercontinental ballistic missiles, reports PTI. Trump in his remarks at the Conservative Political Action Conference said he hoped "something positive" will come out of the latest round of tough sanctions.
"North Korea - we imposed today the heaviest sanctions ever imposed on a country before. But hopefully, something positive can happen," Trump said soon after the Department of Treasury announced a series of tough sanctions.
"This action targets the deceptive shipping practices that have enabled the Kim regime to fund its dangerous weapons programmes," US Treasury Secretary Steven Mnuchin told reporters at a White House news conference. The latest American actions target shipping and trade companies, vessels and individuals across the world who are working on North Korea's behalf, he said. Mnuchin said the sanctions were against 27 entities, 28 vessels and one individual and added that all of them were involved in sanctions evasion schemes.
Corporate partners cut the cord with NRA as gun control debate rages post Florida school violence
Soon after the shooting at a Florida high school, many corporate severed ties with the National Rifle Association to advocate gun control. Corporates ranging from health insurance, car rental brands and a household moving company, left the gun advocacy organisation after the NRA launched a counter-offensive against a campaign led by students for tighter US gun ownership laws, reports Reuters.
Many gun control activists have started pressurizing online video streaming platforms like Amazon.com Inc to drop the online video channel NRATV, which features gun-friendly programs, produced by the NRA. An online campaign using the Twitter hashtag #StopNRAmazon kicked up a storm on social media seeing enormous engagement, to put pressure on Amazon CEO Jeff Bezos to drop the channel.
Top 10 companies where CLSA is overweight on in its model portfolio
Indian markets might have given stellar returns in the year 2017 but that didn’t get rolled over in the year 2018 with respect to macro indicators.
“A worsening macro as evident in rising bond yields, which capture fiscal concerns and inflation, remains a key worry. We raise the weight on IT Services in our model portfolio to neutral keeping in mind the macro worries,” CLSA said in a note.
CLSA has been underweight on IT Services as the growth outlook has been weak due to structural reasons. “While that view has not changed, we believe that the worsening macro situation in India and the possibility of cyclical growth recovery in the US makes a case for the underweight to be cut,” said the report.
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Trump names India, China to defend his policy on climate change
US President Donald Trump has once again named India and China to defend his policy on climate change and reiterated that these countries and some others benefited the most from the Paris agreement while America didn't get any advantage.
"We knocked out the Paris Climate Accord. It would have been a disaster. Would have been a disaster for our country," Trump said in his address today to the Conservative Political Action Committee, reports PTI.
In June last year, Trump had announced to withdraw the US from the Paris Agreement on climate change and renegotiate the deal that was agreed upon by over 190 countries during the previous Obama administration.
Arguing that countries like China and India are benefiting the most from the Paris Agreement, Trump had said that the agreement on climate change was unfair to the US, as it badly hit its businesses and jobs.
Will go with phase two sanctions on N Korea if first wont work: Trump US President Donald Trump today warned that he will go with phase two sanctions on North Korea if the first one won't work, which will be very unfortunate for the world. Earlier, he had imposed the "heaviest-ever" sanctions on North Korea's shipping companies in a bid to prevent the reclusive nation from acquiring nuclear weapons and developing intercontinental ballistic missiles. "If the sanctions don't work, we'll have to go phase two. And phase two may be a very rough thing. May be very, very unfortunate for the world," Trump told reporters at a joint news conference with the visiting Australian Prime Minister Malcolm Turnbull, reports PTI. However, he hoped that the sanctions will work. "We have tremendous support all around the world for what we're doing. It really is a rogue nation," he said. "If we can make a deal, it'll be a great thing. If we can't, something will have to happen. So we'll see," the US President said responding to a question on North Korea.