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News highlights of the day: NRN vindicated, so apologise to him, Mohandas Pai tells Infosys

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.

  • Dec 08, 12:00 PM (IST)

    Top Headlines:

    1. CBDT extends deadline for linking Aadhaar with PAN to March 31

    2. Taxman may invoke Benami Act for unexplained credits, investments, reports The Economic Times

    3. Bank loan growth hits 3yr high on base effect, shows early signs of revival. This is a Moneycontrol exclusive.

    4. Morgan Stanley sees GDP growth at 7.5% in 2018, 7.7% in 2019

    5. NRN's stand vindicated, so apologise to him: TV Mohandas Pai tells Infosys (Reports PTI)

    6. Fake Rs 2,000 note was out within 53 days of demonetisation, reports IANS

    7. Britain and EU reach historic deal on Brexit divorce terms

    8. Russia says North Korea is ready for direct nuclear talks with the US, reports The Telegraph. Meanwhile, Reuters reports that Japan is set to acquire air-launched missiles able to strike North Korea

    9. US-based employers announced 35,038 job cuts in November, says study

    10. Delhi govt cancels Max Shalimar Bagh Hospital’s licence

  • Dec 08, 09:45 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Dec 08, 09:44 PM (IST)

    After a week of dramatic gains, bitcoin tumbles 20 percent in 10 hours

    Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the market may be heading for a price collapse.

    In a hectic day on Thursday, bitcoin leapt from below $16,000 to $19,500 in less than an hour on the US-based GDAX, one of the biggest exchanges globally, while it was still changing hands at about $15,900 on the Luxembourg-based Bitstamp.

  • Dec 08, 09:42 PM (IST)

    Axis Bank gets shareholders' approval to raise Rs 11,626 crore

    Axis Bank gets shareholders' approval to raise Rs 11,626 crore

    In its extraordinary general meeting held in Ahmedabad on Friday, the bank's shareholders gave their nod to a proposal to raise equity and equity-linked capital of Rs 11,626 crore.

  • Dec 08, 09:18 PM (IST)

    Not extending support to any other candidate, says actor Vishal Krishna

    Actor Vishal Krishna, who made an unsuccessful bid to contest the December 21 bypoll to RK Nagar seat, on Friday said he was not extending support to any other candidate and would soon announce his next ‘political move.’

    “Some news is being spread that I am supporting some persons (candidates). So far I have not said (anything) about supporting anyone. I have not at all taken any such decision,” he said in a statement. Earlier, social media was abuzz with speculation that the 40-year-old actor, whose nomination to contest the Radhakrishnan Nagar bypoll was rejected on Tuesday, might extend support to some other candidate.

    AIADMK’s E Madusudhanan, DMK’s N Maruthuganesh and sidelined AIADMK leader T T V Dhinakaran, besides some independents are in the fray for the bypoll, necessitated due to the death of J Jayalalithaa, who represented the Assembly segment, in December last.

  • Dec 08, 09:12 PM (IST)

    Won’t tolerate open loot, negligence by private hospitals: Arvind Kejriwal

    Delhi Chief Minister Arvind Kejriwal on Friday said his government will not tolerate “open loot and criminal negligence” by private hospitals, hours after the licence of Max Hospital at Shalimar Bagh was cancelled.

    He said the AAP government was “very sensitive” in both education and health sectors.

    The Delhi government cancelled the licence of Max Hospital, Shalimar Bagh with immediate effect, for alleged medical negligence including the twins case in which one of the babies was found alive after being declared dead by the doctors.

  • Dec 08, 09:08 PM (IST)

    Implementation agreement on sustainable transport signed between MoHUA and GIZ GmbH

    An implementation agreement on sustainable urban transport in Bhubaneswar, Coimbatore and Kochi was signed on Friday between the ministry of housing and urban affairs and GIZ GmbH.

    An amount of Euro 4 million (approximately Rs 29 crore) through GIZ is envisaged for this purpose over a period of three years. The main objective of this project is to improve planning and implementation of sustainable urban transport, a ministry release said.

  • Dec 08, 09:04 PM (IST)

    Box office trudges along for 2nd straight week; all eyes on Tiger Zinda Hai

    Box office trudges along for 2nd straight week; all eyes on Tiger Zinda Hai

    The dearth of films releasing this Friday may make the trip to cinema halls an unexciting affair. The only notable movie playing on screens on Friday is Fukrey Returns, leaving moviegoers with few choices, and that is counting older releases as well.

  • Dec 08, 08:49 PM (IST)

    Those who cannot see job creation must change spectacles, says Giriraj Singh 

    In a veiled attack on the opposition, Union Minister Giriraj Singh said on Friday that small and mid-size firms were providing jobs to at least 10 crore people annually and those who cannot see this must change their spectacles.

    Even if 70 percent of these jobs provide an income of below Rs 10,000, the Micro, Small and Medium Enterprises (MSMEs) are providing employment to at least 10 crore people annually, he said.

    "People say that employment means that you get a package of Rs 20 lakh (annually), the scenario in the country is such. Those who cannot see must change their spectacles," Singh said while addressing a conference here.

  • Dec 08, 08:46 PM (IST)

    Expect some smart cities to be ready by June next year, says Hardeep Puri

    Expect some smart cities to be ready by June next year, says Hardeep Puri

    The next set of 10 smart cities for funding under the Smart City Mission is expected to be announced by the end of January and there will be some smart cities on the ground by June, Union housing and urban affairs minister Hardeep Singh Puri said on Friday.

  • Dec 08, 08:41 PM (IST)

    Biocon gets shareholders' nod for transfer of biosimilars biz

    Biotechnology major Biocon said it has received shareholders' approval to the resolution for transfer of biosimilars business by way of a slump sale to group entity Biocon Biologics India.

    "The resolution for transfer of Biosimilars business of the company by way of a slump sale as 'Going Concern' to Biocon Biologics India Ltd... has been passed by the members of the company with requisite majority," Biocon said.

  • Dec 08, 08:39 PM (IST)

    Forex reserves jump by $1.2 bn to $401.94 bn

    India's foreign exchange reserves increased by USD 1.2 billion to touch USD 401.942 billion in the week to December 1, according to the RBI data.The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.

    The reserves once again crossed USD 400 billion marks in the previous week, after they rose by USD 1.208 billion to USD 400.741 billion.

  • Dec 08, 08:32 PM (IST)

    No construction zone declared within 500 mt of Taj: Taj Trapezium Authority to Supreme Court

    The Taj Trapezium Authority (TTZ) told the Supreme Court that a "no construction zone" has been declared in a 500-metre radius of the iconic Taj Mahal and the state government has envisaged a comprehensive plan to ensure a balance between environment and development.

    The TTZ Pollution (prevention and control) Authority has said that a number of steps have been taken for the protection of the Taj Mahal and preservation of the environment, including a ban on burning of wood near the historic mausoleum and municipal solid waste and agriculture waste in the entire area.

  • Dec 08, 08:25 PM (IST)

    US job growth strong in November, wages rebound

    US job growth increased at a strong clip in November and wages rebounded, painting a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing.

    Nonfarm payrolls rose by 228,000 jobs last month amid broad gains in hiring as the distortions from the recent hurricanes faded, Labor Department data showed on Friday. The government revised data for October to show the economy adding 244,000 jobs instead of the previously reported 261,000 positions.

  • Dec 08, 08:21 PM (IST)

    Supreme Court stays Madras High Court order on thumb impression of J Jayalalithaa

    The Supreme Court on Friday stayed a Madras High Court order directing Bengaluru jail authorities and the UIDAI to produce records containing the thumb impression of former Tamil Nadu chief minister J Jayalalithaa.

    The high court, while dealing with an election petition, had on November 24 sought Jayalalithaa's thumb impression details which is available with Bengaluru's Parappana Agrahara Jail and the Unique Identification Authority of India (UIDAI). The former AIADMK chief had died on December 5 last year.

  • Dec 08, 08:11 PM (IST)

    This 'fast charging' technology can power up an electric bus' battery in 5 minutes

    This 'fast charging' technology can power up an electric bus' battery in 5 minutes

    The interface is fairly simple and involves only a high-power charge feeding station at the bus terminal and the connection arm on the bus.

  • Dec 08, 07:56 PM (IST)

    JV between SAIL, ArcelorMittal soon, says steel minister
    Union Steel Minister Chaudhary Birender Singh said today that the joint venture (JV) between steel giants SAIL and ArcelorMittal to produce high-end automotive steel will be signed soon.

    "They (ArcelorMittal) have the technology and they are keen to have a JV with SAIL. That is at a stage where things would click within few days or within one or two weeks time. The JV is yet to be signed but I can say 99 per cent of the formalities have been completed," the minister told reporters here.

  • Dec 08, 07:53 PM (IST)

    ICICI Bank raises $500 mn in overseas bond sale at 3.83%
    Private sector lender ICICI Bank has raised USD 500 million in a benchmark bond sale to overseas investors at a coupon of 3.833 percent. 

    The USD 500-million ten-year US dollar money was issued through the Dubai branch of ICICI Bank. The bonds were sold at an attractive pricing of 3.83 percent per annum, an investment banking source told PTI today.

  • Dec 08, 07:52 PM (IST)

    No 'if and but'; BJP will win Gujarat poll: Kushwaha
    Union minister of state for Human Resource Development and RLSP chief Upendra Kushwaha today said that there is no "if and but" about the BJP winning Assembly elections and forming a new government in Gujarat.

    "There is no if and but. BJP will win the elections and form the government in Gujarat," Kushwaha told reporters here.

  • Dec 08, 07:47 PM (IST)

    Cancellation of Max Hospital licence 'too harsh': IMA
    The IMA today termed "too harsh a step" the cancellation of the licence of Max Hospital in Shalimar Bagh by the Delhi government, saying action should be initiated against "those who are at fault" after inquiry.

    Indian Medical Association (IMA) President K K Aggarwal, also a cardiologist, said the government decision was "not in the interest of society".

  • Dec 08, 07:44 PM (IST)

    SC to examine 157-yr-old law on adultery punishing only men
    The Supreme Court today agreed to examine the constitutional validity of a colonial era law on adultery which punishes only the man even though the woman, with whom he has had consensual sex, may be an equal partner.

    The top court also said if the husband gives consent for sexual intercourse between his wife and another man, then it nullifies the offence of adultery and turns the woman into a commodity, which goes against the principle of gender justice and the constitutional mandate of right to equality.

  • Dec 08, 07:39 PM (IST)

    IOB officials helped Chidambaram's relative to grab hotel: CBI
    The CBI today told the Delhi High Court that the Indian Overseas Bank (IOB) officials have acted in a "hurried manner" to facilitate a woman, related to former union minister P Chidambaram, to allegedly grab a hotel in Tamil Nadu.

    Justice Mukta Gupta was further told that the officials of a public sector bank had gone ahead with the auction of the Tirupur-based hotel 'Comfort Inn' as the then finance minister's family members wanted to acquire it.

  • Dec 08, 07:31 PM (IST)

    Report for Khammam steel plant in a month: Union steel minister
    Khammam in Telengana would be the site of an Electric Arc Furnace (EAF) plant after the techno-economic feasibility for the project is established, Union Steel Minister Chaudhary Birender Singh said today.

  • Dec 08, 07:28 PM (IST)

    Licence cancellation move 'harsh', 'unfair': Max Healthcare
    The decision to cancel the licence of Max Hospital, Shalimar Bagh was "harsh" and "unfair" and it will severely limit patients from accessing treatment, the hospital group today said.

    Max Healthcare authorities, in a statement, issued hours after the cancellation of the licence by the Delhi government, said, "We have not been given an adequate opportunity to be heard."

  • Dec 08, 07:27 PM (IST)

    Modi says Aiyar not first one from Congress to call him 'neech', alleges Sonia Gandhi and family have used it too
    Prime Minister Narendra Modi has hit once again at the Congress party after Mani Shankar Aiyar called him 'neech' in a comment yesterday. According to a tweet put out by BJP on its official handle, Modi said that Aiyar was not the first one to call him 'neech', adding that Congress President Sonia Gandhi and her family members have used it too.

    "They have not called me 'Neech' for the first time yesterday. Mrs. Sonia Gandhi and her family members have used it too. Why am I 'Neech' - because I was born poor, because I am of a lower caste, because I am a Gujarati? Is that why they hate me?" Modi was quoted as saying.

  • Dec 08, 07:04 PM (IST)

    Trump's announcement on Jerusalem 'disturbing': Congress
    The Congress party today said US President Donald Trump's announcement recognising Jerusalem as the Israeli capital was "disturbing" and in conflict with the United Nations' resolutions on Palestine.

    In a statement, the Congress urged all parties concerned to resolve the Palestine issue peacefully and expeditiously.

  • Dec 08, 06:56 PM (IST)

    Sushil Modi seeks postponement of Dec 14 finance ministers' committee meeting
    Bihar's Deputy Chief Minister Sushil Kumar Modi has written a letter to chairman of the empowered committee (EC) of State Finance Ministers Amit Mitra, urging him to postpone the governing body meeting convened on December 14.

  • Dec 08, 06:52 PM (IST)

    Day ahead of voting in Gujarat, BJP releases manifesto
    A day before the first phase of polling in Gujarat, the ruling BJP today released its election manifesto with a slew of promises for various sections of society, which included a resolve to "double" farmers' income.

    Releasing the manifesto, BJP's election in-charge for Gujarat, Arun Jaitley, said it was prepared keeping in mind the party's resolution to maintain and improve on the 10-percent growth clocked by the state under the party's rule.

  • Dec 08, 06:44 PM (IST)

    Indian-origin South African freedom fighter Laloo Chiba dies
    Veteran Indian-origin South African freedom fighter Laloo Chiba died today at his home in the predominantly-Indian suburb of Lenasia here. 

    The 87-year-old Chiba, a political prisoner on the Robben Island alongside former South African President Nelson Mandela, was hospitalised after a mild heart attack a few days ago, but was discharged later on.

  • Dec 08, 06:41 PM (IST)

    Bihar Law and order changed completely after Nitish ride to power in 2005: Sushil Modi
    Bihar Deputy Chief Minister Sushil Kumar Modi today said that the law and order situation in the state has "changed completely" after Nitish Kumar took over as chief minister in 2005. 

    "Pre-2005, Bihar was known for negative things. In the last 12 years after Nitish Kumar became chief minister law and order situation has changed completely", Sushil Modi said at the Infocom 2017 here.

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