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Jan 19, 2018 10:06 PM IST | Source: Moneycontrol.com

News highlights of the day: World wants to hear directly from horse's mouth, says PM Modi on Davos

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.

  • Jan 19, 09:43 PM (IST)

    World wants to hear directly from horse's mouth: PM Modi on Davos

    Prime Minister Narendra Modi today said the world wants to hear "directly from the horse's mouth" about India's policies and growth potential and he will feel proud to tell the success story of 125 crore Indians in Davos.

    Days before his first visit to Davos for the World Economic Forum (WEF) annual meeting, Modi told Zee News in an interview that India has made a mark globally and there is a need to reap the benefits.

    Stating that India's economy is growing rapidly and it has been recognised by the world, including all rating agencies, Modi said Davos is a "good opportunity" for the country as it is a big market with the strength of demographic dividend.

  • Jan 19, 09:12 PM (IST)

    Taking passport services to doorsteps of citizens our aim, says Sushma Swaraj

    External Affairs Minister Sushma Swaraj today said that the Government was continuously working towards taking passport services virtually to the doorsteps of
    citizens residing even in remote villages.

    Declaring open a Post Office Passport service Kendra (POPSK) in the country here, she said her Ministry was adopting a citizen-centric approach for passport services.
    "We are committed to simplifying the entire process of passport services with a view to processing all applications in a speedy and transparent manner and have taken a series of reforms," she said.

    Part of this simplification process was the recent decision to do away with printing of the last page in passports, she said.

    "The government is continuously working towards taking passport services virtually to the doorsteps of citizens residing even in remote villages," she said.

  • Jan 19, 06:06 PM (IST)

    India sends tax notices to cryptocurrency investors as trading hits $3.5 billion

    India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said.

    Tech-savvy young investors, real estate players and jewellers are among those invested in bitcoin and other virtual currencies, tax officials told Reuters after gathering data from nine exchanges in Mumbai, Delhi, Bengaluru and Pune.

    Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March.

  • Jan 19, 10:05 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.

  • Jan 19, 10:02 PM (IST)

    Over 25 flights cancelled, 150 delayed at Delhi airport due to dense fog

    Over 25 flights were cancelled and more than 150 delayed at the Indira Gandhi International airport here as operations came to a halt for over an hour due to dense fog.

    No flights could either land in or take-off from the Delhi airport between 7:30 am and 9 am as visibility dropped below the minimum requirement, according to airport sources.

    Nearly 21 flights were diverted to nearby airports, they said.

  • Jan 19, 09:37 PM (IST)

    Govt launches liveability index to rate 116 Indian cities, ranking expected by June

    The government on Friday launched the Liveability index to rate 116 Indian cities. The tool seeks to measure the quality of life in 99 smart cities, capital cities and those with a population of over one million.

    The ministry of housing and urban affairs (MoHUA) through an international bidding process under World Bank-funded CBUD programme has selected IPSOS Research Private Limited in alliance with Athena Infonomics India Private Limited and Economist Group Limited for assessing the liveability indices in 116 cities, union minister for housing and urban affairs Hardeep S Puri said on Friday.

    Read the full story. 

  • Jan 19, 09:28 PM (IST)

    Punjab CM for steps to ensure open defecation free state by March 31

    Punjab Chief Minister Amarinder Singh directed the water supply and sanitation department today to ensure accomplishment of the government's goal to make rural parts Open Defecation Free (ODF) by March 31 this year.

    He ordered the department to take steps to ensure clean drinking water for all, besides 24x7 water supply in 100 more villages annually, officials said.

    With 13 districts having already achieved the goal, the government was on way to positively achieve the target of declaring rural Punjab ODF by March 31, Amarinder Singh said here while chairing a meeting to review the ongoing schemes.

  • Jan 19, 09:24 PM (IST)
  • Jan 19, 09:19 PM (IST)

    Kotak Bank awaits pricing cues and resolutions under IBC to start buying stressed assets
    Kotak Mahindra Bank is waiting for more cues on pricing and resolution of bad loans under the Insolvency and Bankruptcy Code in order to aggressively invest in the distressed assets.

    Dipak Gupta, joint managing director of the bank, said, “We have not bought very large amount of stressed assets. Out of 14 lakh crore (stressed assets), only 2.5 lakh crore are out in the first list (of the Reserve Bank of India). It is still evolving and will see how it goes, lot of laws are changing, getting modified, it has to stabilise, the pricing has to be appropriate. We are yet to see any closures…so, too early to say if pricing is appropriate but we are watching it closely.”

    Read the full report here.

  • Jan 19, 09:05 PM (IST)

    JUST IN | Former Gujarat Chief  Minister Anandiben Patel appointed as the governor of Madhya Pradesh.

  • Jan 19, 09:02 PM (IST)

    New year, new clothes! India Post to get a chic khadi makeover

    New year, new clothes! India Post to get a chic khadi makeover

    Each of the 62,000 postmen and postwomen in the country will be given two sets of their new outfits, along with sweaters for winter months.

  • Jan 19, 09:01 PM (IST)
  • Jan 19, 08:53 PM (IST)
  • Jan 19, 08:51 PM (IST)

    Tata Trusts' MD moves HC against quashing of summons to Mistry

    Tata Trusts' Managing Trustee R Venkatramanan today moved the Bombay High Court against a sessions court order quashing summons issued to ousted Tata Group chairman Cyrus Mistry in connection with a defamation complaint filed by Venkatramanan.

    A Mumbai sessions court, on December 26, had quashed the summons issued to Mistry and others in the Rs 500-crore defamation case.

    A metropolitan magistrate's court had issued the summons in July 2017, directing Mistry and others to appear.

  • Jan 19, 08:50 PM (IST)

    Sheena Bora case: Bombay HC rejects Peter's plea for police diary

    The Bombay High Court today rejected a petition filed by former media baron Peter Mukerjea, an accused in the Sheena Bora murder case, seeking a case diary from the suburban Khar police.

    Justice Anuja Prabhudessai held that there is no law which gives the accused person the right to access the police case diary (where details of probe are recorded daily) on mere suspicion that it might contain some contradictory material.

    Mukerjea had demanded access to the personal diary maintained by sub-inspector Ganesh Dalvi, a prosecution witness who was part of the team that arrested prime accused Indrani Mukerjea's driver, Shyamvar Rai.

  • Jan 19, 08:42 PM (IST)

    Delhi HC asks EC to examine lacunae in law on political funding

    The Delhi High Court today asked the Election Commission to examine the grievances raised in a plea, claiming the presence of lacunae in the law dealing with
    techniques adopted by political parties to raise funds.

    A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar asked the poll panel to address the petitioner's grievances and take a view thereafter.

    It disposed the PIL by Congress MLA, Anumula Revanth Reddy, seeking direction to the Election Commission to address the law on political funding.

  • Jan 19, 08:34 PM (IST)

    German court convicts man who sold weapon to Munich shooter

    A German man who admitted selling the weapon a teenage gunman used to killed nine people has been sentenced to seven years in prison, a court spokeswoman said on Friday.

    David Ali Sonboly, 18, killed nine people in Munich in 2016 before shooting himself dead. Another 27 people were injured. Police concluded the German-born Sonboly was a lone gunman obsessed with mass killings and was not inspired by Islamist militancy.

  • Jan 19, 08:18 PM (IST)

    Government to allot 11 mines to Coal India Ltd, says Piyush Goyal

    The government today said it has decided to allot 11 mines to Coal India Ltd (CIL) which will add about 225 million tonnes (MT) to the state-owned firm's annual production capacity by 2022.

    CIL has a target to produce 1 billion tonne coal by March 2020, up from around 600 MT projected in the current fiscal. "The government has decided to allot 11 coal mines to Coal India," Coal Minister Piyush Goyal told reporters here.

    Of the 11 mines, five are de-allocated blocks and six are fresh mines, he said. The company had requested the government to allot it additional coal mines to make all its subsidiaries 100 MT capacity units.

  • Jan 19, 08:17 PM (IST)
  • Jan 19, 08:08 PM (IST)

    US oil output is booming and seen outpacing Saudi Arabia, Russia

    US oil production is booming and is forecast to top that of heavyweight Saudi Arabia and rival Russia this year, a global energy agency said today.

    The International Energy Agency said in its monthly market report that US oil production, which has already risen to its highest level in nearly 50 years, will push past 10 million barrels a day in 2018 as higher prices entice more producers to start pumping.

    "This year promises to be a record-setting one for the US," it said.

  • Jan 19, 08:07 PM (IST)
  • Jan 19, 08:03 PM (IST)

    Bharti Airtel transfers 25% stake in DTH arm to Nettle Infra

    Bharti Airtel will transfer its 25 percent stake in DTH arm Bharti Telemedia to wholly owned subsidiary Nettle Infrastructure Investments, as per a regulatory filing.

    "...we wish to inform you that the Board in its meeting held on January 18, 2018 has approved the transfer of 25 percent equity shares of Bharti Telemedia Limited (Subsidiary Company) to its wholly owned subsidiary; Nettle Infrastructure Investments Limited," Bharti Airtel said in a BSE filing.

    The date of transaction of the sale is yet to be decided by the company.

  • Jan 19, 07:55 PM (IST)

    NDRF trains over 55 lakh people for emergencies

    The NDRF has trained over 55 lakh people across the country in order to better prepare the population against man-made or natural emergencies and build better preparedness against disasters.

    The force had rescued 4,000 human lives in several operations in 2017, National Disaster Response Force (NDRF) Director General (DG) Sanjay Kumar said on the occasion of the forces' 13th Raising Day today.

    "We have started familiarization exercises, school safety programmes and mock exercises in which over 55.5 lakh people have sensitized by the force till now," he said.

  • Jan 19, 07:49 PM (IST)

    Fire at skyscraper in Thane

    Fire broke out at a 26-storey building in Naupada area here today afternoon.

    Ten fire engines were pressed into service to douse the flames, fire brigade sources said. There were no casualties. Damage to the building was
    yet to be assessed. The fire started between the third and fourth floors around 1.30 pm, and spread rapidly. 

    Regional Disaster Management Cell chief Santosh Kadam said some 150 people inside the building were shifted out.
    Inspector Sanjay Dhumal of Naupda police station rescued some of the stranded people by climbing up a scaffolding put up for painting work.

  • Jan 19, 07:46 PM (IST)

    JUST IN | Ceasefire violation by Pakistan in Mendhar sector of Poonch, one civilian dead, reports ANI. 

  • Jan 19, 07:44 PM (IST)
  • Jan 19, 07:40 PM (IST)

    NHAI toll plazas to have Highway Nest, food & beverage kiosks

    Toll plazas run by NHAI will soon have kiosks selling drinking water, tea/coffee, and packaged food for the convenience of highways users, the government

    today said.

    "Termed as Highway Nest, these kiosks are under construction on both up-side and down-side at all 372 NHAI run toll plazas," Ministry of Road Transport and Highways said in a statement.

    These kiosks are being built on 10mx20m paved platforms about 200-250 metres from the toll plaza, it said, adding that toilet facilities including that for the physically challenged are also available at these sites.

  • Jan 19, 07:35 PM (IST)

    Govt may ask auto makers to launch BS 6 cars that run on BS 4 fuel

    Govt may ask auto makers to launch BS 6 cars that run on BS 4 fuel

    The government may nudge automotive companies to make Bharat Stage VI (BS-6) certified cars capable of running on BS-4 fuels.

  • Jan 19, 07:30 PM (IST)

    Satyam case: SAT refuses to stay Sebi ban on Price Waterhouse

    The Securities Appellate Tribunal today refused to grant a stay on the two-year SEBI ban imposed on Price Waterhouse (PW) and its network entities from taking up new audit work for listed companies.

    On January 10, the markets watchdog SEBI passed an order against the audit major for its alleged complicity in the multi-crore Satyam Computer Services scam.

    Posting the matter for further hearing on February 13, SAT however clarified that PW and its networking entities can continue serving its existing clients.

  • Jan 19, 07:25 PM (IST)

    10-year securities to be sold to public to raise Rs 100 Cr
    Puducherry government today announced sale of ten-year securities in the form of stock to the public by auction for an aggregate amount of Rs 100 crore.

    A release from Puducherry Finance Secretary V Candavelou said the auction would be conducted by Reserve Bank of India (RBI) at Fort Mumbai on January 23.

    The release said that the securities would be issued for a minimum nominal amount of Rs 10,000 and in multiples of Rs 10,000 thereafter. Auction would be conducted by RBI Mumbai Office (Fort) on January 23.

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