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Jun 14, 2018 10:08 PM IST | Source: Moneycontrol.com

News highlights: Govt extends sale of pre-GST goods with stickers of revised price till July 31

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.

  • Jun 14, 10:07 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.

  • Jun 14, 09:55 PM (IST)

    Rahul Gandhi criticises Modi govt's foreign policy over cancellation of work visas by Maldives

    Congress President Rahul Gandhi on Thursday criticised the Modi government's foreign policy, holding it responsible for the cancellation of work visas for Indians by the Maldives.

    He alleged the BJP government's foreign policy was only about "photo-ops" and "no agenda meetings".

    "Maldives, once one of our closest allies and beneficiary of massive aid, is cancelling Indian work visas and putting up 'Not Hiring Indians' signs.

    "This happens when foreign policy becomes about photo ops and 'no agenda meetings' instead of strategic intent," he tweeted.      

    Gandhi cited a media report claiming a downturn in the ties with the Maldives had hit Indian job opportunities in the island country. (PTI)

  • Jun 14, 09:22 PM (IST)

    Rail Neer case: ED attaches Rs 17.55-crore assets of caterers

    The ED today said it has attached assets worth Rs 17.55 crore of two catering firms in connection with its money laundering probe into the selling of cheaper packaged water in place of Rail Neer in Rajdhani and other super-fast trains, according to a report by PTI.

    The agency said it has issued a provisional order for attachment of assets under the Prevention of Money Laundering Act (PMLA) against Ms R K Associates and Hoteliers Pvt Ltd, Ms Satyam Caterers Pvt Ltd and five other firms.

    "During investigation, it is established that above licensees laundered the amount received from railway department in lieu of supply of the packaged drinking water of other brands, which was proceeds of crime," the agency said in a statement.

  • Jun 14, 08:50 PM (IST)

    India suffering worst water crisis in history, says NITI report

    India is suffering from 'the worst water crisis' in its history with about 60 crore people facing high to extreme water stress and about two lakh people dying every year due to inadequate access to safe water, NITI Aayog said in a report on Thursday.

    The report, titled 'Composite Water Management Index' released by Minister for Water Resources Nitin Gadkari, further said the crisis is only going to get worse.

    "By 2030, the country's water demand is projected to be twice the available supply, implying severe water scarcity for hundreds of millions of people and an eventual 6 percent loss in the country's GDP," the report noted.

    Citing data by independent agencies, the report pointed out that with nearly 70 per cent of water being contaminated, India is placed at 120th amongst 122 countries in the water quality index, PTI has reported.

  • Jun 14, 08:40 PM (IST)
  • Jun 14, 08:23 PM (IST)

    Govt extends sale of pre-GST goods with stickers of revised price till July 31

    Sale of pre-GST packaged goods has now been allowed with stickers of revised rates till July 31, the government today said.

    After implementing GST from July 1, 2017, the government had allowed use of stickers with revised rates, alongside the printed MRP for pre-packaged items to reflect changes in selling price for three months till September 30. The deadline has been extended several time and the latest was April 30. (PTI)

  • Jun 14, 08:14 PM (IST)
  • Jun 14, 07:56 PM (IST)

    Rising Kashmir Editor-in-Chief Shujaat Bukhari has been shot dead by unknown people in Srinagar, J&K, CNN-News 18 has reported.

  • Jun 14, 07:47 PM (IST)
  • Jun 14, 07:25 PM (IST)

    Railway mulls proposal to post undercover sleuths at trains, stations to rate services

    Railways is mulling a proposal to have undercover sleuths manning railway stations and trains to check for anomalies in the services offered by the national transporter, a senior official said today.

    Called, "Mystery shoppers" they will look like normal passengers, but will keep a keen eye on the amenities - food, staff behaviour, and quality on trains and at stations - and rate them on their performance, according to a PTI report.

    This system was developed in the early 20th Century in the US and the UK by firms wanting to evaluate standards being maintained by employees. Now, it is the chosen method of big companies to rate their services from the standpoint of consumers.

  • Jun 14, 06:55 PM (IST)

    Govt shortens time frame of 300 highway projects by 3 months: Nitin Gadkari

    The government has decided to reduce time frame by three months of 300 projects scheduled for completion in June 2019, and now those are likely to be completed by March next year, Union Minister Nitin Gadkari said today.

    The move, which comes at a time when less than a year has been left for 2019 Lok Sabha elections, Gadkari said is aimed at fast-tracking schemes to deliver world-class infrastructure to people with no "political interest".

    He said the sole intention of the government was to work on a "mission mode" to bolster development. (PTI)

  • Jun 14, 06:20 PM (IST)

    ECB has lowered the 2018 Eurozone growth forecast from 2.4 percent to 2.1 percent, news agency AFP has reported.

  • Jun 14, 06:00 PM (IST)

    Odisha not to join Centre's Ayushman Bharat programme: Minister

    The Odisha government would not implement the Centre's Ayushman Bharat National Health Protection Mission in the state since it is about to launch a similar scheme on its own shortly, a minister said today, according to a PTI report.

    "There is no need to join the central government's Ayushman Bharat programme after launching state's own health assurance scheme," Health & Family Welfare Minister Pratap Jena said.

    He said that Odisha's Biju Swasthya Kalyan Yojana would be implemented from August 15 this year.

  • Jun 14, 05:39 PM (IST)

    Pakistan SC quashes Musharraf's hopes of contesting general election

    Pervez Musharraf's hope of staging a political comeback by contesting the July 25 polls was quashed today when Pakistan's Supreme Court withdrew the conditional permission given earlier to the former dictator after he failed to appear before it.

    Musharraf, the former military ruler has not returned to Pakistan since leaving for Dubai in March 2016 on the pretext of medical treatment, according to a PTI report.

    The All Pakistan Muslim League (APML) chairperson had filed his nomination from the northern district of Chitral after the court last week allowed him to contest next month's general election but made it conditional on his appearance before it on June 13 in a case linked to his lifelong disqualification by the Peshawar High Court in 2013.

  • Jun 14, 05:31 PM (IST)

    SEBI plans revised norms for recovery of investors' money

    SEBI plans to put in place revised norms for recovering investors' money in cases of illegal collective investment schemes, wherein a registered insolvency professional will be appointed as administrator to undertake sale of assets.

    A senior official said the regulator is looking to revise the procedures to be followed after passing of orders in cases related to unregistered collective investment schemes, according to a PTI report.

    In case an entity is not traceable or is not complying with SEBI directions, the recovery officer can appoint an administrator for the purpose of selling the properties attached. According to the official, only an entity registered with the IBBI as insolvency resolution professional would be considered eligible for appointment as administrator.

  • Jun 14, 05:17 PM (IST)

    FIFA World Cup to boost premium TV sales by 10-15%: Samsung

    Consumer electronics major Samsung India expects the sales of premium televisions in the country to increase by 10-15 percent during the football world cup, which kicks off today.

    "With FIFA World Cup coming into play, the market should see 10-15 percent growth in premium TV sales. We will be hopefully more than that," said Piyush Kunnapallil, general manager-consumer electronic business, Samsung India.

    As per reports, the total TV market is estimated to be Rs 500 billion, growing at 7-8 percent. (PTI)

  • Jun 14, 05:07 PM (IST)

    NEWS FLASH: US Secretary of State Mike Pompeo has said that there are 'still risks' that North Korean denuclearisation won't happen, news agency AFP has reported.

  • Jun 14, 04:57 PM (IST)

    Naive to think state ownership can improve governance: Uday Kotak

    Amid rising frauds in banking and conflict of interest allegations against ICICI Bank's Chanda Kochhar, banker Uday Kotak has said it is "naive" to think diversified or state ownership is a panacea for good governance as lenders, according to a PTI report.

    "As reflected by events around us, it is naive for policy makers to believe that diversified ownership/state ownership is the way to good governance in banking," Kotak said in an annual message to Kotak Mahindra Bank shareholders.

    ICICI Bank's shareholding base is very diverse, while the fraud-hit Punjab National Bank is a state-run lender. Policymakers insist on diversification of ownership and have put caps on single shareholding in banks.

  • Jun 14, 04:45 PM (IST)
  • Jun 14, 04:43 PM (IST)

    Centre has decided not to extend the Ramzan ceasefire imposed in Jammu & Kashmir, News18 has reported.

  • Jun 14, 04:27 PM (IST)


    AAI to spend Rs 2476 cr on Chennai Airport expansion; gets 'green nod'

    An Expert Appraisal Committee (EAC) under the Ministry of Environment, has accorded environmental clearance for the Rs 2476 crore Chennai Airport expansion programme by Airports Authority of India (AAI).
     

  • Jun 14, 04:24 PM (IST)

    Here are the top headlines as of now with Moneycontrol's Sakshi Batra.

  • Jun 14, 03:47 PM (IST)

    Patanjali mega food park: Centre to give 15 days more time

    The Centre has decided to give 15 days more time to Patanjali Ayurved for meeting conditions like acquisition of land, required for the final nod for setting up of the proposed Rs 6,000-crore mega food park in Uttar Pradesh. The deadline to meet the required conditions will expires on June 15. The Uttar Pradesh government has requested the Union Food Processing Ministry to give more time to the leading FMCG firm and extend the deadline till June 30.
     

  • Jun 14, 03:42 PM (IST)

    Engine makers on track with recovery plan for A320 engines, Airbus says

    Engine makers Pratt & Whitney and CFM are on track with a recovery plan after delays left Airbus having to park dozens of aircraft without engines, an executive at the European planemaker said.

  • Jun 14, 03:35 PM (IST)

    Govt has roadmap to clear Delhi from water, air pollution: Gadkari

    Union Minister Nitin Gadkari says the government has a roadmap to clear Delhi from water and air pollution. Gadkari’s remark comes when the capital’s air quality has dived to ‘severe levels’ of pollution. 

  • Jun 14, 03:27 PM (IST)

    L&T bags orders worth Rs 1,391 cr

    Larsen & Toubro (L&T) said it has won orders worth Rs 1,391 crore across business segments, reported PTI. The order has been bagged by its wholly owned subsidiary L&T Hydrocarbon Engineering Limited, Larsen & Toubro said in a statement.

  • Jun 14, 03:24 PM (IST)
  • Jun 14, 03:24 PM (IST)

    Unilever signals unlikely to stay in FTSE after Dutch move

    Unilever says it is "extremely unlikely" to stay in Britain's blue-chip index after ending its dual-headed structure and moving its headquarters to the Netherlands. 

  • Jun 14, 03:09 PM (IST)

    Here are the top headlines as of now with Moneycontrol's Sakshi Batra.

  • Jun 14, 02:53 PM (IST)

    HC delivers split verdict on disqualification of 18 AIADMK MLAs

    In a relief to the Palaniswami government, the Madras High Court delivers a split verdict on the petitions challenging disqualification of 18 A-I-A-D-M-K legislators loyal to sidelined leader TTV Dhinakaran.

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