The LIC board will meet today to decide on the IDBI stake hike to 51 per cent plan. The Board will discuss the timeline for open offer, board-level appointments and the future strategy for revitalising the Bank. The Union Cabinet, had in August, approved the LIC’s acquisition in the debt laden IDBI Bank.
RBI staff to go on a mass casual leave on September 4 and 5. The protest is against Centre’s refusal to accede to its long-pending demand for pension updation. Cheque clearances, NEFT, RTGS and forex transactions likely to be affected during the two-day protest.
Pakistan to hold presidential elections today. Pakistan Tehreek-i-Insaf party candidate Arif Aluva is likely to win the polls as the Opposition failed to field a joint candidate. A total of 706 assembly members will elect the President. Outgoing President Mamnoon Hussain, whose term ends on Sept 8, declined a second term.
Honor 7S is all set to launch in India today. The budget smartphone is likely to be priced under Rs 10,000 and is expected to be the Indian version of Honor Play 7 launched in China, which was launched in May. Honor 7S will compete with Nokia 1 and Xiaomi Redmi 5A in the market.
Mercedes-Benz will unveil its first all-electric SUV today. This electric crossover model looks similar to its GLC-Class and will debut Mercedes’ EQ all-electric sub-brands. When launched, the EQC will compete with Tesla Model X and Jaguar I-Pace in the market.