Aug 08, 2018 09:22 AM IST | Source: Moneycontrol.com
News Live: Strong Indian economy continues to lead global growth, says IMF
This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
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HC dismisses all pending petitions against burials at Marina
The Madras High Court today dismissed all pending petitions challenging burials on the Marina here as it resumed hearing on a petition by the DMK seeking allotment of space at the famous beach for laying to rest its leader M Karunanidhi.
The first bench comprising Acting Chief Justice Huluvadi G Ramesh and Justice S S Sundar dismissed the petitions, including one by social activist Traffic Ramaswamy, when it resumed hearing this morning.
Strong Indian economy continues to lead global growth: IMF
India is a source of growth for the global economy for the next few decades and it could be what China was for the world economy, the IMF said, as it suggested the country to take steps towards more structural reforms.
"India now contributes, in purchasing power parity measures, 15 per cent of the growth in the global economy, which is substantial," said Ranil Salgado, International Monetary Fund's mission chief for India. This is next to only China and the US, he said.
Malaysia's ex-PM Najib charged with more corruption counts
Former Malaysian Prime Minister Najib Razak has been charged with three counts of money laundering related to the alleged multibillion-dollar looting of a state investment fund, adding to his troubles just three months after his stunning electoral defeat.
Twitter chief defends not booting Infowars
Twitter chief Jack Dorsey defended his company's decision to allow far-right conspiracy theorist Alex Jones to use the platform to spread his message, saying he hasn't broken user rules.
Apple, Facebook, Spotify and YouTube have all banned Jones, who runs the website Infowars.
"We're going to hold Jones to the same standard we hold to every account, not taking one-off actions to make us feel good in the short term, and adding fuel to new conspiracy theories," Dorsey said in a tweet.
US to impose USD 16 billion import tariffs on China
The Trump administration announced that it would impose 25 per cent tariffs on imports of 279 items from China amounting to USD 16 billion.
This is the second tranche of such tariffs and comes into effect on August 23.
Washington had already imposed tariffs on USD 34 billion on July 6 but held off on a final USD 16 billion in goods as a result of concerns from US companies.
EVM technology is foolproof: CEC Rawat
Chief Election Commissioner O P Rawat said the Electronic Voting Machine (EVM) is a foolproof technology and has not witnessed any malfunctioning in the past several years.
"The maximum failure rate of EVM is 0.5 per cent," Rawat said, delivering a lecture organised by the Dainik Bhaskar group.
Even this failure rate was because of initial glitches experienced in Voter Verifiable Paper Audit Trail machines which were introduced in 2017, he said.
Over 21,000 Indians overstayed visas in US last year: report
In the year 2017, more than 21,000 Indians who were supposed to leave the country at the end of their permissible limits overstayed their visas, as per the latest official report.
While the percentage of Indians overstaying and not leaving the US after the expiry of their visas is not very high compared to some other nations, but in sheer number India ranks among the top 10 countries whose citizens come to the US legally and continue to stay illegally.
The Department of Homeland Security in its latest annual report released today said that in 2017, more than 10.7 lakh Indians visited the United States on the popular B-1, B-2 visas, which is issued to those who come to the US for business, visit or tourism purposes.
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