20:55 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.
20:45 Lacunae in Gandhi assassination trial, SC told
In a last-ditch effort to persuade the Supreme Court to order a re-investigation into Mahatma Gandhi's assassination, a Mumbai-based man has contended that there were several lacunae, including a ‘four-bullet theory’, that can still be established by a forensic test but were never looked into by any agency, reports PTI.
Referring to medical evidence, petitioner Pankaj Phadnis, a trustee of a charitable trust, Abhinav Bharat, has claimed that the forensic examination of the third bullet which hit Gandhi was not carried out and there was no post-mortem examination of the body despite the police asking for it.
There was a forensic examination of only two bullets, he said. "The medical evidence on record shows that the consequent two wounds were 'dangerous' but not fatal," Phadnis said in a written submissions filed in the apex court.
20:22 China says it will continue to restrict irrational outbound investment
Chinese Commerce Minister Zhong Shan said that China will continue to restrict irrational outbound investment, reports Reuters.
20:21 US warns 'unwise' for Syria to use weaponised gas, slams Russia
US Defence Secretary Jim Mattis warned Syria it would be ‘very unwise’ for government forces to use weaponised gas, as he cited unconfirmed reports of chlorine attacks in eastern Ghouta and slammed Russian support for Damascus, reports Reuters. Mattis stopped short of threatening to retaliate against Syrian forces if a chlorine attack were confirmed. He chided Moscow for partnering with Assad, suggesting it might even be a partner in the Syrian government’s strikes on civilians.
20:11 Mattis goes silent on North Korea ahead of Trump-Kim meeting
US Defence Secretary Jim Mattis said he will not publicly discuss issues related to North Korea, deferring to diplomats and the White House, ahead of a proposed meeting between President Donald Trump and North Korea’s leader, Kim Jong Un, reports Reuters. Mattis said the situation was simply too sensitive for comment by officials in places such as the Pentagon, which is not directly involved in the diplomatic outreach.
20:04 Nepal PM Oli wins vote of confidence
Nepal's newly-elected Prime Minister KP Oli won a historic vote of confidence with two-thirds majority in the country's lower House of Parliament. Oli, who was appointed to the post on February 15, secured 208 votes out of total 268 Parliament members present in the House of Representatives, officials told PTI.
The 66-year-old Oli received the backing of all political parties, except the main opposition, the Nepali Congress and some fringe parties who voted against him. He received 121 votes from CPN-UML, 52 from CPN (Maoist Center), 16 each from Rastriya Janta Party Nepal and Federal Socialist Forum Nepal and one each from Rastriya Janamorcha, Rastriya Prajatantra Party, Nepal Workers Peasants Party and an independent lawmaker, the officials said.
08:00 Me, my sister have 'completely forgiven' father's killers, says Rahul Gandhi
Congress President Rahul Gandhi has said he and his sister Priyanka Gandhi have "completely forgiven" his father Rajiv Gandhi's killers as they find it ‘difficult to hate people’, reports PTI. During an interaction with IIM alumni in Singapore, Gandhi spoke about the assassination of his grandmother Indira Gandhi and father Rajiv and said that it was a price that the family knew they had to pay for taking a stand.
"We knew that my father was going to die. We knew that my grandmother was going to die. In politics, when you mess with the wrong forces, and if you stand for something, you will die," he said. Former Prime Minister Rajiv Gandhi was assassinated by a woman suicide bomber of LTTE, the militant group in Sri Lanka led by Prabhakaran, on May 21, 1991 at an election rally in Tamil Nadu.
19:22 South Africa looks to strip Gupta brother's residency
South Africa has launched proceedings to strip the permanent residency status of one of the lynchpins of a controversial Indian business family accused of corruption, an official said. Ajay Gupta, a fugitive sought by police over alleged graft, now faces the prospect of losing access to banking facilities as well as his South African identity papers if his residency is rescinded.
Ajay is one of three Indian-born Gupta brothers who are among South Africa's richest people who are now being investigated by police over corruption allegations. The country's graft watchdog has also accused them of having improper links to former president Jacob Zuma. Home Affairs Minister Malusi Gigaba has discussed the "the possibility of revoking Ajay's residency" with President Cyril Ramaphosa, his spokesman told AFP.
19:15 NCLAT approves Ratnagiri Gas demerger scheme Demerger scheme for Ratnagiri Gas and Power and Konkan LNG has been approved by the National Company Law Appellate Tribunal (NCLAT). Setting aside the earlier order of the National Company Law Tribunal, Delhi, NCLAT has extended the 'Long Stop Date' for the scheme of demerger of the companies to March 31, 2018, reports PTI.
18:44 PMO calls Mon meeting of FinMin, Commerce officials on exporters' GST refunds
The Prime Minister's Office has called a meeting of top officials of commerce and finance ministries on Monday to discuss the issue of GST refunds as exporters claimed that their 70% of refunds are still stuck even after eight months of roll out of the new tax regime, reports PTI. The meeting would also assess the impact of delay in refund process on exports and manufacturing, sources said.
According to sources, the meeting would be attended by Finance Secretary Hasmukh Adhia, Commerce Secretary Rita Teaotia, CBEC Chairperson Vanaja Sarna and top officials from the Directorate General of Foreign Trade (DGFT). The DGFT, under the Commerce Ministry, is slated to make a presentation before the Principal Secretary to the Prime Minister on the pending refunds to exporters.
18:20 Consensus on Ayodhya difficult, but temple will be built: RSS
The RSS said building a consensus on the Ayodhya dispute was not going to be easy, but stressed that a Ram Temple - "and nothing else" - would be constructed in the Uttar Pradesh town, reports PTI. Replying to a question on spiritual guru Sri Sri Ravishankar's efforts at developing consensus between the different parties on the issue, RSS general secretary Bhaiyyaji Joshi said consensus building was not going to be easy.
18:16 Manufacturing outlook positive for Jan-Mar qtr, says FICCI
Manufacturers in the country have a positive outlook for the sector in the January-March quarter on the back of higher production, a report by industry body FICCI states. "...the percentage of respondents reporting higher production in fourth quarter has increased significantly vis-a-vis previous quarter of 2017-18. The proportion of respondents reporting higher output growth during the Q4 FY18 has increased significantly to 55% from 47% in Q3," FICCI said in its latest quarterly survey on manufacturing.
Also, the percentage of respondents reporting low production has come down to 11% in the fourth quarter from 15% in the preceding quarter, it added. In terms of order books, 51% of the respondents said they are expecting higher number of orders as against 42% in the previous quarter, which is "a sign of revival", the industry body said.
18:10 UK media: Traces of nerve agent found in ex-spy poisoning
British media reported that traces of the nerve agent used to attack a Russian ex-spy and his daughter have been found in Salisbury where the two were poisoned, reports AP. Sources told the BBC that traces were found at a restaurant where Sergei Skripal and his daughter Yulia reportedly ate before falling critically ill, and a pub. BBC also reported that up to 500 people who dined at the restaurant or frequented the pub have been told to wash their possessions as a precaution. Sky News says traces were found in several locations.
18:07 43% voter turnout in Gorakhpur; 37.39% in Phulpur Lok Sabha bye-elections: Election office
17:45 'Cap no of employees with access to price sensitive info'
Companies need to control the number of employees with access to unpublished price sensitive information (UPSI) while junior employees privy to such confidential data should also be kept under the scanner, says financial services advisory KPMG. The observation gains significance on the back of the ongoing probe by market regulator Sebi into circulation of such information through social media groups prior to financial results in the June quarter when financial details of various major corporates were circulated on Whatsapp groups before they were made public. (PTI)
17:44 Goa BJP MPs to meet Gadkari on Mon on mining issue
Goa's three BJP MPs will meet Union minister Nitin Gadkari on Monday to iron out issues plaguing the state's mining sector.They will also seek an appointment with BJP president Amit Shah, party leaders told PTI. This comes a few days after an all-party delegation met Gadkari and other Union ministers on March 5 but came back without any assurance.
17:30 Fresh violence erupts in Lanka as Muslim-owned restaurant comes under attack
Fresh violence erupted in Sri Lanka after a Muslim-owned restaurant was attacked in an alleged hate crime incident in the north western province today. The attack comes a day after President Maithripala Sirisena appointed a commission to probe a spate of anti-Muslim riots in the violence-hit Kandy district that prompted him to impose a nationwide state of emergency, reports PTI.
The restaurant located in Puttalam district's Anamaduwa city, 130 km from Colombo, was targeted early morning even as police are keeping a tight vigil following eruption of communal clashes on Monday that have left two persons dead and damaged several homes, businesses and mosques in the scenic Kandy district.
16:41 40% polling in Gorakhpur, 29% in Phulpur till 4 pm: EC officials Gorakhpur Lok Sabha constituency witnessed a polling percentage of around 40% while Phulpur saw a turnout of around 29% till 4 pm, Election Commission sources told PTI. The voting for the bye-elections to the two Lok Sabha seats began on a dull note but picked up momentum in the day amid tight security, they said. The bypolls were necessitated after Uttar Pradesh Chief Minister Yogi Adityanath and Deputy Chief Minister Keshav Prasad Maurya vacated the Gorakhpur and Phulpur Lok Sabha seats, respectively, following their election to the state legislative council. For more updates, click here…
16:36 Jet Airways, Air France-KLM, Delta consortium to bid for Air India
A consortium of Jet Airways, Air France-KLM and Delta Airlines understood to have expressed interest in the disinvestment of national carrier Air India, sources told PTI. Against this backdrop, sources said a consortium of three full services, including Jet Airways, are keen to put in their bid for the national carrier.
16:30 1 in 3 cos in India considering different organisational structure: Study
About 31% of companies in India are considering a different organisational structure as they look at creating a performance-driven culture and meet changing customer demands, a joint study by Willis Towers Watson (WTW) and CII said. About 49% respondents said they were considering this change to create a performance-driven culture, while 41% it would help in meeting changing customer demands, the report titled 'WTW-CII study on organisation structures in India' said.
Other drivers included supporting change in strategy (36%), changing the behaviour and mindset of the workforce (34%) and cutting costs (30%), the study added. The study revealed that companies are making or planning to make efforts to fix organisational structure-related challenges over the next three years. About 73% said they are paying more for certain skills, 60% said they are deploying work to other locations and 57% are focusing on workplace flexibility.
16:25 Papon kissing row: NCPCR to revise guidelines for child TV artistes
The National Commission for Protection of Child Rights (NCPCR) will relook its guidelines for child participants of television shows following the recent controversy over singer Papon kissing a minor contestant of a reality programme. "Our guidelines for child participants of TV shows were framed in 2011 before the Juvenile Justice Act of 2015 and the Prevention of Child Sexual Offences (POCSO) Act of 2012 as well as the Child Labour (Prohibition and Regulation) Amendment Act of 2016. We will revise our guidelines in consonance with the new legislations," NCPCR chairperson Stuti Kacker told PTI.
16:10 Coca-Cola plans to localise 2/3rd of its products portfolio in India
Looking at expanding its regional footprints in India, beverages major Coca-Cola is planning to introduce ethnic drinks and fruit juices with an aim to localise two-third of its product portfolio over the next few years, reports PTI.
16:07 Trump's tariffs prompting some US fund managers to look overseas
President Donald Trump’s announcement of import tariffs, and the prospect of retaliation by other countries, is prompting some fund managers to pare their holdings of US stocks and look for opportunities overseas, reports Reuters. The high turnover of key staff in the White House, including the exit of Gary Cohn, the director of the National Economic Council this week is undermining confidence in policy making also.
Fund managers from Oppenheimer, Federated, and Wells Fargo are among those that now see international and emerging market equities as more attractive than the US, where the prospect of higher interest rates contributed to a slump in stocks in February, leaving the benchmark S&P 500 stock index up about 2% for the year-to-date, after turning in a 7% gain in January.
13:23 All issues to be resolved by tomorrow says Girish Mahajan on Maharashtra farmers' protest
All the issues of farmers will be resolved by tomorrow a 100 percent says Maharashtra Cabinet Minister Girish Mahajan to CNN News18.
"We want this issue to be resolved. The government will look into the demand and government will fulfil demands. Officials have been called for the meeting tomorrow."
Prtoesting farmers in the thousands, led by the All India Kisan Sabha's protest march crosses Thane Mulund Check Naka to reach Mumbai.
The Maharashtra Government has taken note of the march. MLA Girish Mahajan of the BJP will represent the Cheif Minister by meeting farmers in an hour.
Heavy police coverage has taken place in Thane's Anand Nagar in expectation of close to 30,000 farmers are expected to march into Mumbai on Monday.
The farmers will be demanding a complete waiver of the farm loans among other demands outside the state legislature.
The “long march” was initiated by the Akhil Bharatiya Kisan Sabha (ABKS), affiliated to the CPI (M). On Friday, the farmers reached Bhatsa river in Thane district where over 5,000 people from Palghar district joined the march.
Their demands include a transfer of forest land to tillers, implementation of the Swaminathan Commission’s recommendations, and a compensation of Rs 40,000 per acre for farmers affected by the hailstorm and pink bollworm, and putting a stop to sharing the state’s water with Gujarat.
In other events, Maharashtra's congress workers hold banners in Mumbai to welcome protesting farmers that are expected to converge in the thousands on Monday.
Maharashtra Navnirman Sena (MNS) leader Raj Thackeray will also meet the farmers at 5 pm at Somaiyya ground today
15:21 Reliance Foundation to set up a university, says Nita Ambani
Reliance Foundation, one of the largest private foundations in the country, plans to set up a university for cutting edge research and innovation as well as nurturing future leaders, musicians, scientists and Olympians, said its founder-chairperson Nita Ambani.
Speaking at the India Today Conclave last evening, she said sports and education are the two pillars on which 'India tomorrow' will rise.
With her husband Mukesh Ambani, Reliance Industries Chairman and Managing Director, in the audience, she delivered a talk titled 'The Great Equaliser: Sports and Education For All'.
"Even the world's best and biggest companies have a finite lifespan. But educational institutions are timeless. They live and breathe and grow in the generations whom they empower," she said.
And that is why, Reliance Foundation is planning to set up a world-class university, she said.
14:26 PNB fraud: RBI initiates special audit of PSBs with focus on trade finance
Rattled by spate of banking frauds, RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of letters of undertakings (LoUs) by them, banking sources said.
In addition, the RBI has asked all banks for details of the LoUs they had written, including the amounts outstanding, and whether the banks had pre-approved credit limits or kept enough cash on margin before issuing the guarantees.
Most of the big banking frauds which were unearthed in the recent past, including the one perpetuated by diamantaire Nirav Modi and his associates, pertain to trade finance. Also, many of the willful default cases have their roots in trade finance, the sources told PTI.
In view of the recent Rs 12,646-crore PNB scam, done through fraudulent issuance of LoUs by connivance of the bank's staff, it was pertinent for the regulator RBI to examine the issue of trade finance which also included issuance of letter of credit (LC) and LoUs, sources said.
Soon after Nirav Modi case came to light, the CBI registered a case against a Delhi-based diamond jewellery exporter Dwarka Das Seth International for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce (OBC).
14:11 US aluminium tariff hike unlikely to impact India directly
The US move to impose tariffs on aluminium imports may not have considerable direct impact on Indian metal industry, aluminium manufacturers said.
The US decision to impose 10 per cent tariff on imported aluminium may not have significant direct impact on Indian aluminium industry, but it may have resultant impact due to increased availability of export volume for ex-America global market, Aluminium Association of India Chairman T K Chand told PTI.
Chand is also the Chairman and Managing Director of Aluminium major Nalco.
Vedanta Ltd, which is also a leading aluminium producer, said the company exports around 5 per cent, which is around 1,00,000 tonnes of its aluminium volumes, to the US market, hence the duties are not a game changer for it.
"Moreover, the market prices will adjust accordingly with higher premiums to reflect the higher cost of supply due to the 10 per cent duties," Vedanta Ltd Chief Sales & Marketing Officer (Global Aluminium Business) Jean-Baptiste Lucas told PTI.
13:55 China's parliament abolishes presidential term limits; paves way for Xi's rise as leader-for-life
China's rubber-stamp parliament today voted with a two-thirds majority to abolish presidential term limits, paving the way for President Xi Jinping's rise as potential leader-for-life.
Set for his second five-year term as President this month, 64-year-old Xi, the most powerful leader in recent decades heading the ruling Communist Party (CPC) and the military, will now be the first Chinese leader after the founder chairman Mao Zedong to remain in power lifelong.
The constitutional amendment removing the term limit for the President and the Vice President was approved with a two-thirds majority by about 3,000 deputies of the National People's Congress, official media reported
Ahead of the vote by deputies in the NPC - regarded as the rubber stamp parliament for its routine endorsement of CPC proposals - the seven member Standing Committee - the top most body of the ruling Communist Party of China - unanimously approved the amendment to abolish the presidential term limits.
"Every one of us on the NPC Standing Committee approves and supports amending Constitution," Chairman of the NPC, Zhang Dejiang, said in his work report.
The amendment effectively ended the collective leadership system followed by the CPC to avert a dictatorship emerging in otherwise a one-party state akin to the era of Mao which witnessed the most brutal events like Cultural Revolution resulting in the killings of millions of people.
13:44 T T V Dhinakaran to announce name of his political party on March 15
After a series of legal skirmishes over allotment of a party symbol, sidelined AIADMK leader
T T V Dhinakaran today said that he would announce the name of his political party and unveil the flag in Madurai later this week.
"Following the acceptance of our plea in the Delhi High Court, a function to announce the name of the party and introduce the party flag will be held on March 15 at 9 am at Melur in Madurai district," he said in a statement here.
The Delhi High Court, on March 9, allowed Dhinakaran's plea for allotment of a common symbol, preferably 'pressure cooker', and a name of his choice for the AIADMK faction led by him.
The court order came on an interim application filed by the Dhinakaran-V K Sasikala faction in their main petition challenging the Election Commission's November 23 order last year, which had allotted 'two leaves' symbol to the group headed by Chief Minister K Palaniswami and his deputy O Panneerselvam.
13:36 Fire at Delhi Vidhan Sabha, none injured
A fire broke out in the generator room of Delhi Vidhan Sabha today, Delhi Fire Services said.
A call informing about the blaze was received at 10.50 am and three fire tenders were rushed to the spot, an official of the department said, adding the fire was doused by 11.30 am.
No injuries were reported in the incident, the official said.
13:29 Lenskart plans to invest $5 million in 3 years
Online eyewear firm Lenskart plans to invest USD 5 million in the next 3 years at its manufacturing facility for spectacles frames.
The company recently started the facility near Gurugram in Haryana that has a manufacturing capacity of 1 lakh frames a month with an investment of USD 1 million. It is looking at ramping it up to 3 lakh frames in 3 years.
"We have set up with facility to be able to innovate on design and manufacture high quality spectacle frames at lower costs. We will invest USD 5 million over the next three years and will be able to manufacture 3 lakh frames a month" Lenskart founder and CEO Peyush Bansal told PTI.
Currently, this facility will only meet half of our total frames demand. Rest we will manage through contract manufacturing, he added.
"Over the period, we expect cost of these high quality frames to come down by 30 per cent," he said.
Bansal said spectacles account for 80 percent of its total turnover and the company sells over 2 lakh eye glasses a month at present. The company expects Rs 400 crore turnover from eye glasses in the current fiscal year.
13:23 Maharashtra farmers' long march: Girish Mahajan to meet CM, meet farmers in an hour
The Maharashtra Government has taken note of the farmers protest. MLA Girish Mahajan of the BJP will represent the Cheif Minister by meeting farmers in an hour.
In other events, Maharashtra's congress workers hold banners in Mumbai to welcome protesting farmers that are expected to converge in the thousands on Monday.
Maharashtra Navnirman Sena (MNS) leader Raj Thackeray will also meet the farmers at 5 pm at Somaiyya ground today
Heavy police coverage has taken place in Thane's Anand Nagar in expectation of close to 30,000 farmers are expected to march into Mumbai on Monday.
The farmers will be demanding a complete waiver of the farm loans among other demands outside the state legislature.
The “long march” was initiated by the Akhil Bharatiya Kisan Sabha (ABKS), affiliated to the CPI (M). On Friday, the farmers reached Bhatsa river in Thane district where over 5,000 people from Palghar district joined the march.
Their demands include a transfer of forest land to tillers, implementation of the Swaminathan Commission’s recommendations, and a compensation of Rs 40,000 per acre for farmers affected by the hailstorm and pink bollworm, and putting a stop to sharing the state’s water with Gujarat.
12:14 NHAI looks to build 1,100-km highways in March to meet FY18 target
NHAI will strive to construct 1,100 km of highways this month to achieve its target of building 3,500 km in the ongoing fiscal, its Chairman Deepak Kumar said.
As far as target for awards of 10,000 km for the fiscal is concerned, the National Highways Authority of India (NHAI) had awarded projects for a length of nearly 2,700 km, costing Rs 43,000 crore till January.
"Our target (for construction of highways) is 3,500 km. We have completed 2,400 km," Kumar said adding that the authority is hopeful of almost meeting the target for the fiscal.
"The NHAI has invited bids for a length of 10,460 km, costing nearly Rs 1,75,000 crore till January, 2018, and is all set to achieve a quantum jump in the award of road projects in the year 2017-18," the ministry of road transport and highways has said recently.
The average length of road projects awarded by NHAI in the last 5 years was 2,860 km, with 4,335 km awarded in 2016-17.
The ministry has recently said that about 5,000 km of projects will be awarded in March, 2018, subject to a good response in bidding and cooperation from state governments in land acquisition and project clearances.
The projects include 1,900 km in Maharashtra, followed by Rajasthan (1,150 km), Uttar Pradesh (1,020 km), Odisha (880 km), Andhra Pradesh (745 km), Madhya Pradesh (740 km), Gujarat (650 km), Karnataka (620 km), Tamilnadu (570 km), Bihar (500 km), Jharkhand (430 km), Telangana (365 km), Haryana (350 km), West Bengal (280 km) and Chhattisgarh (270 km).
To ensure that the targets are achieved, NHAI has set up a monitoring mechanism.
12:39 PNB fraud: Overreaction may cause huge loss of confidence, says Assocham
Industry body Assocham today cautioned that overreaction by banks and the investigative agencies, in the backdrop of the PNB fraud, could hurt essential credit disbursement to the trade and industry and tamper growth expectations.
It also emphasised that all out efforts must be made by banks, regulators, government and India Inc to "limit the collateral damage from the alleged fraud in PNB".
"Following unearthing of the alleged scams and the media headlines, the banks are becoming cautious while there is a perceived public pressure on the regulators to act tough," Assocham Secretary General D S Rawat said in a statement.
Given the scale of the problem, the level of noise may be justified, but it could cause a huge loss of confidence, he added.
11:48 A panel says Centre will infuse Rs 5000 crore in FCI over 2 years
The government will infuse Rs 5,000 crore equity in state-run Food Corporation of India (FCI) over the next two years to ease liquidity problem and make its procurement operations more efficient.
FCI, the government's nodal agency for procurement and distribution of foodgrains, will also raise Rs 32,000 crore through government-guaranteed bonds, according to a Parliamentary panel's report.
The Parliamentary Standing Committee on Food and Public Distribution, headed by J C Divakar Reddy, took a note of the budget proposal to restructure the FCI capital in order to enhance equity and to raise long-term debt for meeting the working capital requirement.
"The Ministry of Finance has accordingly decided that the capital requirement for holding the stocks shall be pegged at Rs 50,000 crore, of which Rs 45,000 crore shall be financed through borrowed capital and Rs 5,000 crore through equity infusion," the panel said in the report.
The equity of Rs 5,000 crore will be infused in FCI over two years. As FCI is already holding bonds worth Rs 13,000 crore, the Corporation would further raise Rs 32,000 crore through government-guaranteed bonds, the panel added.
"The committee hope that with the infusion of more capital, the FCI....would be able to improve forming its mandate while discharging its function."
Since FCI is established under a special Act of Parliament and does not come under a Company Act, the Corporation's capital is in the form of equity and is not divided into shares.
11:07 Farmer's long march: NCP's Dhananjay Munde expected in Mumbai tomorrow, traffic advisory issued
Close to 30,000 farmers are expected to march into Mumbai on Monday, demanding a complete waiver of the farm loans among other demands outside the state legislature.
The Nationalist Congress Party (NCP) has given its support for the march, as Maharashtra Legislative Council member from the NCP Dhananjay Munde is expected arrive in Mumbai to support the same. The Police have also issued a traffic advisory update in expectation of the event.
The “long march” was initiated by the Akhil Bharatiya Kisan Sabha (ABKS), affiliated to the CPI (M). On Friday, the farmers reached Bhatsa river in Thane district where over 5,000 people from Palghar district joined the march.
Their demands include a transfer of forest land to tillers, implementation of the Swaminathan Commission’s recommendations, and a compensation of Rs 40,000 per acre for farmers affected by the hailstorm and pink bollworm, and putting a stop to sharing the state’s water with Gujarat.
10:53 Donald Trump believes N Korea would honour its commitment
US President Donald Trump today predicted "tremendous success" in his upcoming groundbreaking talks with North Korean leader Kim Jong-un and said he believes Pyongyang would honour its commitment not to conduct missile tests before their meeting.
Trump, on Friday, stunned the world by announcing that he has accepted a North Korean invitation to meet Kim Jong-un. The announcement was first made by a visiting South Korean delegation led by its national security advisor. Trump later confirmed the news.
"North Korea has not conducted a Missile Test since November 28, 2017 and has promised not to do so through our meetings. I believe they will honour that commitment!" Trump tweeted.
And a few hours later, a confident Trump told reporters that his policy on North Korea would be a tremendous success.
"I think North Korea is going to go very well, I think we will have tremendous success. I think this is going to be something very successful," he told reporters before boarding Marine One en route to Moon Township in Pennsylvania.
"We have a lot of support. So, I think North Korea is going to go very well. The problem is they wouldn't be shooting off missiles in the meantime, and they're looking to de-nuke. So that'd be great," Trump said.
A day earlier, the White House had said that Trump will not meet Kim Jong-un until the North Koreans take "concrete and verifiable" steps to meet the commitment they have done for the meeting.
In another tweet, Trump said that the mainstream media was startled and amazed at his decision on Friday.
"In the first hours after hearing that North Korea's leader wanted to meet with me to talk denuclearization and that missile launches will end, the press was startled & amazed," he said.
"They couldn't believe it. But by the following morning the news became FAKE. They said so what, who cares!" Trump tweeted.
In a series of tweets, Trump gave details of his telephonic talks with Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping. During these talks, he also spoke with them about America's trade deficit with them.
10:48: Chief Minister of Delhi Arvind Kejriwal writes to BJP's Manoj Tiwari & Congress' Ajay Maken, inviting them for a meeting on 13 March over the sealing of shops in the capital, tweets ANI.
The chief minister had on Friday threatened that he would go on a hunger strike if the issue of the ongoing sealing drive against commercial establishments in the national capital was not resolved by the end of this month.
10:25 PM Modi restates India's 175 GW renewable energy commitment at International Solar Alliance
Prime Minister Narendra Modi has reiterated India's commitment towards solar power by 2020 and stated that the world, not just India, should push towards solar power. Modi was speaking at the International Solar Alliance meet at the Rashtrapati Bhavan today. He also spoke of the various steps taken on the same. Follow the live speech here.
10:34 PM Modi gives out 10 action points for implementing solar power
Prime Minister Narendra Modi stated 10 action point for furthering solar energy. Of these, he said that we must figure how to make solar equipment that sustainable and affordable and that we must increase the solar power in the energy mix. He also suggested providing a concessional financing scheme for solar power. He also suggested that the regulatory aspects must be conducive for the progress of solar energy. He also called for the consultancy support from developed nations as well as create a network of the centres of excellence. Finally, he suggested that we must give have a progressive attitude in our solar policy.
10:08 Sealing: CM talking of hunger strike a 'political drama', alleges CAIT
An industry body has termed Chief Minister Arvind Kejriwal's threat to go on hunger strike if the issue of sealing drive against commercial establishments was not resolved a "political drama".
The Confederation of All India Traders (CAIT) yesterday said the chief minister was shedding "crocodile tears" on the issue that affected the livelihood of numerous people in the last few months.
"Instead of talking about hunger strike, Kejriwal should honestly work for the traders and accordingly pass a bill for a moratorium on sealing in the upcoming session of the Assembly and send it to the central government for approval," CAIT secretary general Praveen Khandelwal said.
The chief minister had on Friday threatened that he would go on a hunger strike if the issue of the ongoing sealing drive against commercial establishments in the national capital was not resolved by the end of this month.
At a meeting with traders in south Delhi's Amar Colony, on whom police had on Thursday allegedly used force while they were protesting against a sealing action in the area, he demanded that the Centre bring an ordinance to stop the drive.
The chief minister talking about a hunger strike is a "political drama and he is shedding crocodile tears," the CAIT said in a statement.
"The trading community of Delhi is not at all impressed by Kejriwal's announcement since he is not doing what he is capable of, but instead trying to score political mileage on a issue which is directly connected with the livelihood of traders and their employees," the body alleged.
The industry body also urged Kejriwal to "depute a senior counsel in the Supreme Court and file an affidavit as asked by the apex court".
Meanwhile, in a show of solidarity, traders, under the aegis of the CAIT, are slated to hold a 'Delhi Trade Bandh' on March 13.
All major wholesale and retail markets of Delhi, including Connaught Place, Chandni Chowk,Karol Bagh, Sadar Bazar, Kashmere Gate, Bhagirath Place, Lajpat Rai Market, Khari Baoli, Naya Bazar, Kamla Nagar, Chawri Bazar, Nai Sarak, Khan Market, South Extension, Greater Kailash, Lajpat Nagar, Amar Colony and Defence Colony, would down their shutters on that day, the CAIT claimed.
10:05 Gaps in Pakistan, Bangladesh borders to be plugged in 3-5 years: BSF Director General
We are hopeful to plug the gaps along the country's borders with Pakistan and Bangladesh in the next three to five years, BSF Director General K K Sharma has said.
The Border Security Force (BSF) plans to put up a Comprehensive Integrated Border Management System (CIBMS) in areas along the India-Bangladesh border, where it is difficult to put up a fence due to the nature of the terrain as well as check cross-border infiltration and smuggling, Sharma said.
CIBMS is an integration of a number of new gadgets and technologies to ensure electronic surveillance of borders. These provide feeds to BSF personnel at the border outposts, where monitors would be installed.
In case of a threat, quick reaction BSF teams will intervene and neutralize it, the official said.
"As of now, the CIBMS project will be rolled out in the vulnerable areas of India's border with Bangladesh and Pakistan. We plan to implement the system within the next 3-5 years," he told PTI in an interview on Friday.
A pilot project of the CIBMS is underway in two 5-km patches along the India-Pakistan border at Jammu and along the India-Bangladesh border at Dhubri in Assam.
09:57 India on way to becoming major global power: Former US ambassador to India
As India is on its way to becoming a major global power, New Delhi and the US must focus on trade and investment by negotiating agreements that will create jobs in the two countries, David Mulford, former Ambassador to India said at the recently concluded Houston India Conference.
The second edition of the two-day conference was themed "Make in India-The India Story" and it drew to a close on March 9.
Addressing the conference, Mulford said that India has to be the US' first geopolitical priority in the world. He also said that Washington DC must focus on building relations with New Delhi on its own and not clubbed with another country. Mulford also welcomed the measures against Pakistan.
"India's time has come" was the general consensus at the conference that focused on investment opportunities in India, India-Texas trade, the 'Make in India' initiative. The conference brought together thought leaders in industry, trade, diplomacy, economics and journalism from India and US.
In his opening remarks, Consul General of India in Houston Dr Anupam Ray said that the conference was a platform for people involved with writing the India story to help the next generation write the new chapters.
Jagdip Ahluwalia, a co-founder of the Indo-American Chamber of Commerce of Greater Houston (IACCGH), reflected in how far the US-India trade equation has progressed in recent time and how it has been helping with jobs creation in Texas and India.
09:52 Trump presses EU on trade barriers in tit-for-tat
President Donald Trump renewed his demand today that the European Union halts its trade barriers to US products in order to spare his allies new steel and aluminium tariffs.
The American president made his comments after crunch talks in Brussels between EU negotiators and US Trade Representative Robert Lighthizer in an effort to defuse a bitter row that many fear could turn into an all-out trade war.
The EU's top trade official said the US failed to provide full clarity on how Europe and Japan could be spared set to continue next week.
"The European Union, wonderful countries who treat the US very badly on trade, are complaining about the tariffs on Steel & Aluminium," Trump said.
"If they drop their horrific barriers & tariffs on US products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!"
President Donald Trump's announcement of duties of 25 per cent on imported steel and 10 per cent on aluminium has stung the European Union, along with other major partners including Japan, whose Economy Minister Hiroshige Seko also attended the talks in Brussels.
"As long-standing security partners of the United States, (the EU and Japan) underlined to ambassador Lighthizer their expectation that EU and Japanese exports to the US would be exempted from the application of higher tariffs," an EU statement said after the talks.
09:49 Harsimrat Badal urges PM to take up turban issue with French president
Union Minister Harsimrat Kaur Badal today urged Prime Minister Narendra Modi to take up with French President Emmanuel Macron the issue of Sikh community members in France being asked to remove their turbans for all official identification.
The Union minister for food processing said she had written to the prime minister in this regard.
Badal said she had "received repeated requests from the Sikh Community settled in France as well as the Counseil Representatif des Sikhs de France that a law which required removal of turbans while being photographed for passport, ID card, health card, transport card, driving licence or any other identification issued by the French administration was causing them severe humiliation".
Stating that the law was in a violation of Sikh tenets, Harsimrat Kaur, who is also the SAD MP from Bathinda, said the Sikh community was confident that this issue could be addressed under the leadership of Prime Minister Modi.
She said this was very important because nowhere else in the world Sikhs were subjected to this kind of discrimination.
Asserting that the turban was an integral part of the Sikh identity, Badal, in a statement here today, said there was a need to sensitise the French government about the Sikh culture.
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Lacunae in Gandhi assassination trial, SC told
In a last-ditch effort to persuade the Supreme Court to order a re-investigation into Mahatma Gandhi's assassination, a Mumbai-based man has contended that there were several lacunae, including a ‘four-bullet theory’, that can still be established by a forensic test but were never looked into by any agency, reports PTI.
Referring to medical evidence, petitioner Pankaj Phadnis, a trustee of a charitable trust, Abhinav Bharat, has claimed that the forensic examination of the third bullet which hit Gandhi was not carried out and there was no post-mortem examination of the body despite the police asking for it.
There was a forensic examination of only two bullets, he said. "The medical evidence on record shows that the consequent two wounds were 'dangerous' but not fatal," Phadnis said in a written submissions filed in the apex court.
China says it will continue to restrict irrational outbound investment
Chinese Commerce Minister Zhong Shan said that China will continue to restrict irrational outbound investment, reports Reuters.
US warns 'unwise' for Syria to use weaponised gas, slams Russia
US Defence Secretary Jim Mattis warned Syria it would be ‘very unwise’ for government forces to use weaponised gas, as he cited unconfirmed reports of chlorine attacks in eastern Ghouta and slammed Russian support for Damascus, reports Reuters. Mattis stopped short of threatening to retaliate against Syrian forces if a chlorine attack were confirmed. He chided Moscow for partnering with Assad, suggesting it might even be a partner in the Syrian government’s strikes on civilians.
Mattis goes silent on North Korea ahead of Trump-Kim meeting
US Defence Secretary Jim Mattis said he will not publicly discuss issues related to North Korea, deferring to diplomats and the White House, ahead of a proposed meeting between President Donald Trump and North Korea’s leader, Kim Jong Un, reports Reuters. Mattis said the situation was simply too sensitive for comment by officials in places such as the Pentagon, which is not directly involved in the diplomatic outreach.
French President Emmanuel Macron along with First Lady Brigitte Macron pose for a photograph outside Taj Mahal in Agra on Sunday. PTI
Nepal PM Oli wins vote of confidence
Nepal's newly-elected Prime Minister KP Oli won a historic vote of confidence with two-thirds majority in the country's lower House of Parliament. Oli, who was appointed to the post on February 15, secured 208 votes out of total 268 Parliament members present in the House of Representatives, officials told PTI.
The 66-year-old Oli received the backing of all political parties, except the main opposition, the Nepali Congress and some fringe parties who voted against him. He received 121 votes from CPN-UML, 52 from CPN (Maoist Center), 16 each from Rastriya Janta Party Nepal and Federal Socialist Forum Nepal and one each from Rastriya Janamorcha, Rastriya Prajatantra Party, Nepal Workers Peasants Party and an independent lawmaker, the officials said.
Me, my sister have 'completely forgiven' father's killers, says Rahul Gandhi
Congress President Rahul Gandhi has said he and his sister Priyanka Gandhi have "completely forgiven" his father Rajiv Gandhi's killers as they find it ‘difficult to hate people’, reports PTI. During an interaction with IIM alumni in Singapore, Gandhi spoke about the assassination of his grandmother Indira Gandhi and father Rajiv and said that it was a price that the family knew they had to pay for taking a stand.
"We knew that my father was going to die. We knew that my grandmother was going to die. In politics, when you mess with the wrong forces, and if you stand for something, you will die," he said. Former Prime Minister Rajiv Gandhi was assassinated by a woman suicide bomber of LTTE, the militant group in Sri Lanka led by Prabhakaran, on May 21, 1991 at an election rally in Tamil Nadu.
South Africa looks to strip Gupta brother's residency
South Africa has launched proceedings to strip the permanent residency status of one of the lynchpins of a controversial Indian business family accused of corruption, an official said. Ajay Gupta, a fugitive sought by police over alleged graft, now faces the prospect of losing access to banking facilities as well as his South African identity papers if his residency is rescinded.
Ajay is one of three Indian-born Gupta brothers who are among South Africa's richest people who are now being investigated by police over corruption allegations. The country's graft watchdog has also accused them of having improper links to former president Jacob Zuma. Home Affairs Minister Malusi Gigaba has discussed the "the possibility of revoking Ajay's residency" with President Cyril Ramaphosa, his spokesman told AFP.
NCLAT approves Ratnagiri Gas demerger scheme
Demergerscheme forRatnagiriGas and Power andKonkanLNG has been approved by the National Company Law Appellate Tribunal (NCLAT). Setting aside the earlier order of the National Company Law Tribunal, Delhi,NCLAThas extended the 'Long Stop Date' for the scheme ofdemergerof the companies to March 31, 2018, reportsPTI.
PMO calls Mon meeting of FinMin, Commerce Min officials on exporters' GST refunds
The Prime Minister's Office has called a meeting of top officials of commerce and finance ministries on Monday to discuss the issue of GST refunds as exporters claimed that their 70% of refunds are still stuck even after eight months of roll out of the new tax regime, reports PTI. The meeting would also assess the impact of delay in refund process on exports and manufacturing, sources said.
According to sources, the meeting would be attended by Finance Secretary Hasmukh Adhia, Commerce Secretary Rita Teaotia, CBEC Chairperson Vanaja Sarna and top officials from the Directorate General of Foreign Trade (DGFT). The DGFT, under the Commerce Ministry, is slated to make a presentation before the Principal Secretary to the Prime Minister on the pending refunds to exporters.
A man prays after offering flowers in Arahama coastal area where the tsunami struck in 2011, in Sendai city, northern Japan, on Sunday. Japan marks the seventh anniversary of the strong quake and Tsunami which ravaged the coastal area of Northern Japan and triggered the nuclear accident at Fukushima Dai-ichi nuclear plant. AP
Consensus on Ayodhya difficult, but temple will be built: RSS
The RSS said building a consensus on the Ayodhya dispute was not going to be easy, but stressed that a Ram Temple - "and nothing else" - would be constructed in the Uttar Pradesh town, reports PTI. Replying to a question on spiritual guru Sri Sri Ravishankar's efforts at developing consensus between the different parties on the issue, RSS general secretary Bhaiyyaji Joshi said consensus building was not going to be easy.
Manufacturing outlook positive for Jan-Mar qtr, says FICCI
Manufacturers in the country have a positive outlook for the sector in the January-March quarter on the back of higher production, a report by industry body FICCI states. "...the percentage of respondents reporting higher production in fourth quarter has increased significantly vis-a-vis previous quarter of 2017-18. The proportion of respondents reporting higher output growth during the Q4 FY18 has increased significantly to 55% from 47% in Q3," FICCI said in its latest quarterly survey on manufacturing.
Also, the percentage of respondents reporting low production has come down to 11% in the fourth quarter from 15% in the preceding quarter, it added. In terms of order books, 51% of the respondents said they are expecting higher number of orders as against 42% in the previous quarter, which is "a sign of revival", the industry body said.
UK media: Traces of nerve agent found in ex-spy poisoning
British media reported that traces of the nerve agent used to attack a Russian ex-spy and his daughter have been found in Salisbury where the two were poisoned, reports AP. Sources told the BBC that traces were found at a restaurant where Sergei Skripal and his daughter Yulia reportedly ate before falling critically ill, and a pub. BBC also reported that up to 500 people who dined at the restaurant or frequented the pub have been told to wash their possessions as a precaution. Sky News says traces were found in several locations.
43% voter turnout in Gorakhpur; 37.39% in Phulpur Lok Sabha bye-elections: Election office
'Cap no of employees with access to price sensitive info'
Companies need to control the number of employees with access to unpublished price sensitive information (UPSI) while junior employees privy to such confidential data should also be kept under the scanner, says financial services advisory KPMG. The observation gains significance on the back of the ongoing probe by market regulator Sebi into circulation of such information through social media groups prior to financial results in the June quarter when financial details of various major corporates were circulated on Whatsapp groups before they were made public. (PTI)
Goa BJP MPs to meet Gadkari on Mon on mining issue
Goa's three BJP MPs will meet Union minister Nitin Gadkari on Monday to iron out issues plaguing the state's mining sector.They will also seek an appointment with BJP president Amit Shah, party leaders told PTI. This comes a few days after an all-party delegation met Gadkari and other Union ministers on March 5 but came back without any assurance.
Fresh violence erupts in Lanka as Muslim-owned restaurant comes under attack
Fresh violence erupted in Sri Lanka after a Muslim-owned restaurant was attacked in an alleged hate crime incident in the north western province today. The attack comes a day after President Maithripala Sirisena appointed a commission to probe a spate of anti-Muslim riots in the violence-hit Kandy district that prompted him to impose a nationwide state of emergency, reports PTI.
The restaurant located in Puttalam district's Anamaduwa city, 130 km from Colombo, was targeted early morning even as police are keeping a tight vigil following eruption of communal clashes on Monday that have left two persons dead and damaged several homes, businesses and mosques in the scenic Kandy district.
Farmers of All Indian Kisan Sabha (AIKS) march from Nashik to Mumbai to gherao Vidhan Bhawan on March 12 demanding a loan waiver. PTI
40% polling in Gorakhpur, 29% in Phulpur till 4 pm: EC officials
Gorakhpur Lok Sabha constituency witnessed a polling percentage of around 40% while Phulpur saw a turnout of around 29% till 4 pm, Election Commission sources told PTI. The voting for the bye-elections to the two Lok Sabha seats began on a dull note but picked up momentum in the day amid tight security, they said. The bypolls were necessitated after Uttar Pradesh Chief Minister Yogi Adityanath and Deputy Chief Minister Keshav Prasad Maurya vacated the Gorakhpur and Phulpur Lok Sabha seats, respectively, following their election to the state legislative council. For more updates, click here…
Jet Airways, Air France-KLM, Delta consortium to bid for Air India
A consortium of Jet Airways, Air France-KLM and Delta Airlines understood to have expressed interest in the disinvestment of national carrier Air India, sources told PTI. Against this backdrop, sources said a consortium of three full services, including Jet Airways, are keen to put in their bid for the national carrier.
1 in 3 cos in India considering different organisational structure: Study
About 31% of companies in India are considering a different organisational structure as they look at creating a performance-driven culture and meet changing customer demands, a joint study by Willis Towers Watson (WTW) and CII said. About 49% respondents said they were considering this change to create a performance-driven culture, while 41% it would help in meeting changing customer demands, the report titled 'WTW-CII study on organisation structures in India' said.
Other drivers included supporting change in strategy (36%), changing the behaviour and mindset of the workforce (34%) and cutting costs (30%), the study added. The study revealed that companies are making or planning to make efforts to fix organisational structure-related challenges over the next three years. About 73% said they are paying more for certain skills, 60% said they are deploying work to other locations and 57% are focusing on workplace flexibility.
Papon kissing row: NCPCR to revise guidelines for child TV artistes
The National Commission for Protection of Child Rights (NCPCR) will relook its guidelines for child participants of television shows following the recent controversy over singer Papon kissing a minor contestant of a reality programme. "Our guidelines for child participants of TV shows were framed in 2011 before the Juvenile Justice Act of 2015 and the Prevention of Child Sexual Offences (POCSO) Act of 2012 as well as the Child Labour (Prohibition and Regulation) Amendment Act of 2016. We will revise our guidelines in consonance with the new legislations," NCPCR chairperson Stuti Kacker told PTI.
Coca-Cola plans to localise 2/3rd of its products portfolio in India
Looking at expanding its regional footprints in India, beverages major Coca-Cola is planning to introduce ethnic drinks and fruit juices with an aim to localise two-third of its product portfolio over the next few years, reports PTI.
Trump's tariffs prompting some US fund managers to look overseas
President Donald Trump’s announcement of import tariffs, and the prospect of retaliation by other countries, is prompting some fund managers to pare their holdings of US stocks and look for opportunities overseas, reports Reuters. The high turnover of key staff in the White House, including the exit of Gary Cohn, the director of the National Economic Council this week is undermining confidence in policy making also.
Fund managers from Oppenheimer, Federated, and Wells Fargo are among those that now see international and emerging market equities as more attractive than the US, where the prospect of higher interest rates contributed to a slump in stocks in February, leaving the benchmark S&P 500 stock index up about 2% for the year-to-date, after turning in a 7% gain in January.
Reliance Foundation to set up a university, says Nita Ambani
Reliance Foundation, one of the largest private foundations in the country, plans to set up a university for cutting edge research and innovation as well as nurturing future leaders, musicians, scientists and Olympians, said its founder-chairperson NitaAmbani.
Speaking at the India Today Conclave last evening, she said sports and education are the two pillars on which 'India tomorrow' will rise.
With her husbandMukeshAmbani, Reliance Industries Chairman and Managing Director, in the audience, she delivered a talk titled 'The GreatEqualiser: Sports and Education For All'.
"Even the world's best and biggest companies have a finite lifespan. But educational institutions are timeless. They live and breathe and grow in the generations whom they empower," she said.
And that is why, Reliance Foundation is planning to set up a world-class university, she said.
Senior editor Ranjan Roy dies at 57
Senior journalist Ranjan Roy, who died yesterday after battling cancer for several years, was cremated here this morning, as family and friends gathered by his side to bid farewell to an editor known for his professional acumen and personal charm.
Roy, chief of the Times News Network (TNN) and a member of the paper's national editorial board, was 57.
An alumnus of Delhi's St. Stephen's College and Princeton University, US, Roy started his journalistic career in the Press Trust of India (PTI) in New Delhi as a trainee in 1982.
"...Ranjan blazed a remarkable trail through the Press Trust of India in New Delhi and the Associated Press in Kuala Lumpur and New York before returning to India in 2004 to head TNN," the Times of India recalled today in an obituary -- Ranjan Roy: The man who ran the network.
PTI Editor-in-Chief Vijay Joshi, who worked with Roy in the Indian wire service in the late 80s and at AP in the late 90s, condoled his death.
PNB fraud: RBI initiates special audit of PSBs with focus on trade finance
Rattled by spate of banking frauds, RBI has initiated special audit of state-owned lenders with focus on trade financing activities, especially relating to issuance of letters of undertakings (LoUs) by them, banking sources said.
In addition, the RBI has asked all banks for details of the LoUs they had written, including the amounts outstanding, and whether the banks had pre-approved credit limits or kept enough cash on margin before issuing the guarantees.
Most of the big banking frauds which were unearthed in the recent past, including the one perpetuated by diamantaire Nirav Modi and his associates, pertain to trade finance. Also, many of the willful default cases have their roots in trade finance, the sources told PTI.
In view of the recent Rs 12,646-crore PNB scam, done through fraudulent issuance of LoUs by connivance of the bank's staff, it was pertinent for the regulator RBI to examine the issue of trade finance which also included issuance of letter of credit (LC) and LoUs, sources said.
Soon after Nirav Modi case came to light, the CBI registered a case against a Delhi-based diamond jewellery exporter Dwarka Das Seth International for an alleged bank loan fraud to the tune of Rs 389.85 crore towards Oriental Bank of Commerce (OBC).
US aluminium tariff hike unlikely to impact India directly
The US move to impose tariffs on aluminium imports may not have considerable direct impact on Indian metal industry, aluminium manufacturers said.
The US decision to impose 10 percent tariff on imported aluminium may not have significant direct impact on Indian aluminium industry, but it may have resultant impact due to increased availability of export volume for ex-America global market, Aluminium Association of India Chairman T K Chand told PTI.
Chand is also the Chairman and Managing Director of Aluminium major Nalco.
Vedanta Ltd, which is also a leading aluminium producer, said the company exports around 5 percent, which is around 1,00,000 tonnes of its aluminium volumes, to the US market, hence the duties are not a game changer for it.
"Moreover, the market prices will adjust accordingly with higher premiums to reflect the higher cost of supply due to the 10 percent duties," Vedanta Ltd Chief Sales & Marketing Officer (Global Aluminium Business) Jean-Baptiste Lucas told PTI.
China's parliament abolishes presidential term limits; paves way for Xi's rise as leader-for-life
China's rubber-stamp parliament today voted with a two-thirds majority to abolish presidential term limits, paving the way for President Xi Jinping's rise as potential leader-for-life.
Set for his second five-year term as President this month, 64-year-old Xi, the most powerful leader in recent decades heading the ruling Communist Party (CPC) and the military, will now be the first Chinese leader after the founder chairman Mao Zedong to remain in power lifelong.
The constitutional amendment removing the term limit for the President and the Vice President was approved with a two-thirds majority by about 3,000 deputies of the National People's Congress, official media reported
Ahead of the vote by deputies in the NPC - regarded as the rubber stamp parliament for its routine endorsement of CPC proposals - the seven member Standing Committee - the top most body of the ruling Communist Party of China - unanimously approved the amendment to abolish the presidential term limits.
"Every one of us on the NPC Standing Committee approves and supports amending Constitution," Chairman of the NPC, Zhang Dejiang, said in his work report.
The amendment effectively ended the collective leadership system followed by the CPC to avert a dictatorship emerging in otherwise a one-party state akin to the era of Mao which witnessed the most brutal events like Cultural Revolution resulting in the killings of millions of people.
T T V Dhinakaran to announce name of his political party on March 15
After a series of legal skirmishes over allotment of a party symbol, sidelined AIADMK leader
T T V Dhinakaran today said that he would announce the name of his political party and unveil the flag in Madurai later this week.
"Following the acceptance of our plea in the Delhi High Court, a function to announce the name of the party and introduce the party flag will be held on March 15 at 9 am at Melur in Madurai district," he said in a statement here.
The Delhi High Court, on March 9, allowed Dhinakaran's plea for allotment of a common symbol, preferably 'pressure cooker', and a name of his choice for the AIADMK faction led by him.
The court order came on an interim application filed by the Dhinakaran-V K Sasikala faction in their main petition challenging the Election Commission's November 23 order last year, which had allotted 'two leaves' symbol to the group headed by Chief Minister K Palaniswami and his deputy O Panneerselvam.
Fire at Delhi Vidhan Sabha, none injured
A fire broke out in the generator room of Delhi Vidhan Sabha today, Delhi Fire Services said.
A call informing about the blaze was received at 10.50 am and three fire tenders were rushed to the spot, an official of the department said, adding the fire was doused by 11.30 am.
No injuries were reported in the incident, the official said.
Lenskart plans to invest $5 million in 3 years
Online eyewear firm Lenskart plans to invest USD 5 million in the next 3 years at its manufacturing facility for spectacles frames.
The company recently started the facility near Gurugram in Haryana that has a manufacturing capacity of 1 lakh frames a month with an investment of USD 1 million. It is looking at ramping it up to 3 lakh frames in 3 years.
"We have set up with facility to be able to innovate on design and manufacture high quality spectacle frames at lower costs. We will invest USD 5 million over the next three years and will be able to manufacture 3 lakh frames a month" Lenskart founder and CEO Peyush Bansal told PTI.
Currently, this facility will only meet half of our total frames demand. Rest we will manage through contract manufacturing, he added.
"Over the period, we expect cost of these high quality frames to come down by 30 per cent," he said.
Bansal said spectacles account for 80 per cent of its total turnover and the company sells over 2 lakh eye glasses a month at present. The company expects Rs 400 crore turnover from eye glasses in the current fiscal year.
Maharashtra farmers' protest: All issues to be resolved by tomorrow says Girish Mahajan
All the issues of farmers will be resolved by tomorrow a 100 percent says Maharashtra Cabinet MinisterGirish Mahajan to CNN News18.
"We want this issue to be resolved. The government will look into the demand and government will fulfil demands. Officials have been called for the meeting tomorrow."
Prtoesting farmers in the thousands, led by the All India Kisan Sabha's protest march crosses Thane Mulund Check Naka to reach Mumbai.
The Maharashtra Government has taken note of the march. MLA Girish Mahajan of the BJP will represent the Cheif Minister bymeeting farmers in an hour.
Heavy police coverage hastaken place in Thane'sAnandNagarin expectation ofcloseto 30,000 farmers are expected to march into Mumbai on Monday.
The farmers will be demanding a complete waiver of the farm loans among other demands outside the state legislature.
The “long march” was initiated by theAkhilBharatiyaKisanSabha(ABKS), affiliated to the CPI (M). On Friday, the farmers reachedBhatsariver in Thane district where over 5,000 people fromPalghardistrict joined the march.
Their demands include a transfer of forest land to tillers, implementation of theSwaminathanCommission’s recommendations, and a compensation of Rs 40,000 per acre for farmers affected by the hailstorm and pink bollworm, and putting a stop to sharing the state’s water with Gujarat.
In other events, Maharashtra's congress workers hold banners in Mumbai to welcome protesting farmers that are expected to converge in the thousands on Monday.
Maharashtra Navnirman Sena (MNS) leaderRaj Thackeray will also meet the farmers at 5 pm at Somaiyya ground today
FPIs' bearish stance continues; outflow at Rs 6,000 crore
Foreign investors have pulled out nearly Rs 6,000 crore from the Indian capital markets in just six trading days of the month primarily due to better opportunities in other emerging nations.
Net withdrawal by foreign portfolio investors (FPIs) from equities stood at Rs 2,410 crore during March 1-9, while the same from the debt market was Rs 3,473 crore, translating into a total outflow of Rs 5,883 crore, depositories data showed.
This follows an outflow of over Rs 11,000 crore from the capital markets -- equity and debt -- last month.
"FPI outflows from Indian markets are a result of growing demand for the US dollar, coming from the expectation of an increase in the Federal rate. FPI may also be pulling funds from India to invest in other growing economies," Harsh Jain, co-founder and COO at Groww said.
Himanshu Srivastava, senior research analyst, at Morningstar Investment Adviser India said that February was not conducive on both global and domestic fronts for FPIs.
The introduction of long-term capital gain (LTCG) tax in equity investments announced in the Union Budget on Feb 1 was the first blow to sentiments. While it did not attract a knee jerk reaction from FPIs, it did raised concerns and slowed down the pace of FPI flows.
PNB fraud: Overreaction may cause huge loss of confidence, says Assocham
Industry body Assocham today cautioned that overreaction by banks and the investigative agencies, in the backdrop of the PNB fraud, could hurt essential credit disbursement to the trade and industry and tamper growth expectations.
It also emphasised that all out efforts must be made by banks, regulators, government and India Inc to "limit the collateral damage from the alleged fraud in PNB".
"Following unearthing of the alleged scams and the media headlines, the banks are becoming cautious while there is a perceived public pressure on the regulators to act tough," Assocham Secretary General D S Rawat said in a statement.
Given the scale of the problem, the level of noise may be justified, but it could cause a huge loss of confidence, he added.
NHAI looks to build 1,100-km highways in March to meet FY18 target
NHAI will strive to construct 1,100 km of highways this month to achieve its target of building 3,500 km in the ongoing fiscal, its Chairman Deepak Kumar said.
As far as target for awards of 10,000 km for the fiscal is concerned, the National Highways Authority of India (NHAI) had awarded projects for a length of nearly 2,700 km, costing Rs 43,000 crore till January.
"Our target (for construction of highways) is 3,500 km. We have completed 2,400 km," Kumar said adding that the authority is hopeful of almost meeting the target for the fiscal.
"The NHAI has invited bids for a length of 10,460 km, costing nearly Rs 1,75,000 crore till January, 2018, and is all set to achieve a quantum jump in the award of road projects in the year 2017-18," the ministry of road transport and highways has said recently.
The average length of road projects awarded by NHAI in the last 5 years was 2,860 km, with 4,335 km awarded in 2016-17.
The ministry has recently said that about 5,000 km of projects will be awarded in March, 2018, subject to a good response in bidding and cooperation from state governments in land acquisition and project clearances.
The projects include 1,900 km in Maharashtra, followed by Rajasthan (1,150 km), Uttar Pradesh (1,020 km), Odisha (880 km), Andhra Pradesh (745 km), Madhya Pradesh (740 km), Gujarat (650 km), Karnataka (620 km), Tamilnadu (570 km), Bihar (500 km), Jharkhand (430 km), Telangana (365 km), Haryana (350 km), West Bengal (280 km) and Chhattisgarh (270 km).
To ensure that the targets are achieved, NHAI has set up a monitoring mechanism.
Farmer's long march: NCP's Dhananjay Munde expected in Mumbai tomorrow, traffic advisory issued
Close to 30,000 farmers are expected to march into Mumbai on Monday, demanding a complete waiver of the farm loans among other demands outside the state legislature.
The Nationalist Congress Party (NCP) has given its support for the march, as Maharashtra Legislative Council member from the NCP Dhananjay Munde is expected arrive in Mumbai to support the same. The Police have also issued a traffic advisory update in expectation of the event.
The “long march” was initiated by the Akhil Bharatiya Kisan Sabha (ABKS), affiliated to the CPI (M). On Friday, the farmers reached Bhatsa river in Thane district where over 5,000 people from Palghar district joined the march.
Their demands include a transfer of forest land to tillers, implementation of the Swaminathan Commission’s recommendations, and a compensation of Rs 40,000 per acre for farmers affected by the hailstorm and pink bollworm, and putting a stop to sharing the state’s water with Gujarat.
A panel says Centre will infuse Rs 5000 crore in FCI over 2 years
The government will infuse Rs 5,000 crore equity in state-run Food Corporation of India (FCI) over the next two years to ease liquidity problem and make its procurement operations more efficient.
FCI, the government's nodal agency for procurement and distribution offoodgrains, will also raise Rs 32,000 crore through government-guaranteed bonds, according to a Parliamentary panel's report.
The Parliamentary Standing Committee on Food and Public Distribution, headed by J CDivakarReddy, took a note of the budget proposal to restructure theFCIcapital in order to enhance equity and to raise long-term debt for meeting the working capital requirement.
"The Ministry of Finance has accordingly decided that the capital requirement for holding the stocks shall be pegged at Rs 50,000 crore, of which Rs 45,000 crore shall be financed through borrowed capital and Rs 5,000 crore through equity infusion," the panel said in the report.
The equity of Rs 5,000 crore will be infused inFCIover two years. AsFCIis already holding bonds worth Rs 13,000 crore, the Corporation would further raise Rs 32,000 crore through government-guaranteed bonds, the panel added.
"The committee hope that with the infusion of more capital, theFCI....would be able to improve forming its mandate while discharging its function."
SinceFCIis established under a special Act of Parliament and does not come under a Company Act, the Corporation's capital is in the form of equity and is not divided into shares.
Donald Trump believes N Korea would honour its commitment
US President Donald Trump today predicted "tremendous success" in his upcoming groundbreaking talks with North Korean leader Kim Jong-un and said he believes Pyongyang would honour its commitment not to conduct missile tests before their meeting.
Trump, on Friday, stunned the world by announcing that he has accepted a North Korean invitation to meet Kim Jong-un. The announcement was first made by a visiting South Korean delegation led by its national security advisor. Trump later confirmed the news.
"North Korea has not conducted a Missile Test since November 28, 2017 and has promised not to do so through our meetings. I believe they will honour that commitment!" Trump tweeted.
And a few hours later, a confident Trump told reporters that his policy on North Korea would be a tremendous success.
"I think North Korea is going to go very well, I think we will have tremendous success. I think this is going to be something very successful," he told reporters before boarding Marine One en route to Moon Township in Pennsylvania.
"We have a lot of support. So, I think North Korea is going to go very well. The problem is they wouldn't be shooting off missiles in the meantime, and they're looking to de-nuke. So that'd be great," Trump said.
A day earlier, the White House had said that Trump will not meet Kim Jong-un until the North Koreans take "concrete and verifiable" steps to meet the commitment they have done for the meeting.
In another tweet, Trump said that the mainstream media was startled and amazed at his decision on Friday.
"In the first hours after hearing that North Korea's leader wanted to meet with me to talk denuclearization and that missile launches will end, the press was startled & amazed," he said.
"They couldn't believe it. But by the following morning the news became FAKE. They said so what, who cares!" Trump tweeted.
In a series of tweets, Trump gave details of his telephonic talks with Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping. During these talks, he also spoke with them about America's trade deficit with them.
PM Modi gives out 10 action points for implementing solar power
Prime Minister Narendra Modistated 10 action point for furthering solar energy. Of these, hesaid that we must figure how to make solar equipment that sustainable and affordable and that we mustincrease the solar power in the energy mix. He also suggested providing a concessional financing scheme for solar powe.He also suggested that the regulatory aspects must be conducive for the progress of solar energy. He also called for the consultancy support from developed nations as well as create a network of the centres of excellence. Finally, he suggested that we must give have a progressive attitude in our solar policy.
Sealing: CM talking of hunger strike a 'political drama', alleges CAIT
An industry body has termed Chief Minister Arvind Kejriwal's threat to go on hunger strike if the issue of sealing drive against commercial establishments was not resolved a "political drama".
The Confederation of All India Traders (CAIT) yesterday said the chief minister was shedding "crocodile tears" on the issue that affected the livelihood of numerous people in the last few months.
"Instead of talking about hunger strike, Kejriwal should honestly work for the traders and accordingly pass a bill for a moratorium on sealing in the upcoming session of the Assembly and send it to the central government for approval," CAIT secretary general Praveen Khandelwal said.
The chief minister had on Friday threatened that he would go on a hunger strike if the issue of the ongoing sealing drive against commercial establishments in the national capital was not resolved by the end of this month.
At a meeting with traders in south Delhi's Amar Colony, on whom police had on Thursday allegedly used force while they were protesting against a sealing action in the area, he demanded that the Centre bring an ordinance to stop the drive.
The chief minister talking about a hunger strike is a "political drama and he is shedding crocodile tears," the CAIT said in a statement.
"The trading community of Delhi is not at all impressed by Kejriwal's announcement since he is not doing what he is capable of, but instead trying to score political mileage on a issue which is directly connected with the livelihood of traders and their employees," the body alleged.
The industry body also urged Kejriwal to "depute a senior counsel in the Supreme Court and file an affidavit as asked by the apex court".
Meanwhile, in a show of solidarity, traders, under the aegis of the CAIT, are slated to hold a 'Delhi Trade Bandh' on March 13.
All major wholesale and retail markets of Delhi, including Connaught Place, Chandni Chowk, Karol Bagh, Sadar Bazar, Kashmere Gate, Bhagirath Place, Lajpat Rai Market, Khari Baoli, Naya Bazar, Kamla Nagar, Chawri Bazar, Nai Sarak, Khan Market, South Extension, Greater Kailash, Lajpat Nagar, Amar Colony and Defence Colony, would down their shutters on that day, the CAIT claimed.
Gaps in Pakistan, Bangladesh borders to be plugged in 3-5 years: BSF Director General
We are hopeful to plug the gaps along the country's borders with Pakistan and Bangladesh in the next three to five years, BSF Director General K K Sharma has said.
The Border Security Force (BSF) plans to put up a Comprehensive Integrated Border Management System (CIBMS) in areas along the India-Bangladesh border, where it is difficult to put up a fence due to the nature of the terrain as well as check cross-border infiltration and smuggling, Sharma said.
CIBMS is an integration of a number of new gadgets and technologies to ensure electronic surveillance of borders. These provide feeds to BSF personnel at the border outposts, where monitors would be installed.
In case of a threat, quick reaction BSF teams will intervene and neutralize it, the official said.
"As of now, the CIBMS project will be rolled out in the vulnerable areas of India's border with Bangladesh and Pakistan. We plan to implement the system within the next 3-5 years," he told PTI in an interview on Friday.
A pilot project of the CIBMS is underway in two 5-km patches along the India-Pakistan border at Jammu and along the India-Bangladesh border at Dhubri in Assam.
India on way to becoming major global power: Former US ambassador to India
As India is on its way to becoming a major global power, New Delhi and the US must focus on trade and investment by negotiating agreements that will create jobs in the two countries, David Mulford, former Ambassador to India said at the recently concluded Houston India Conference.
The second edition of the two-day conference was themed "Make in India-The India Story" and it drew to a close on March 9.
Addressing the conference, Mulford said that India has to be the US' first geopolitical priority in the world. He also said that Washington DC must focus on building relations with New Delhi on its own and not clubbed with another country. Mulford also welcomed the measures against Pakistan.
"India's time has come" was the general consensus at the conference that focused on investment opportunities in India, India-Texas trade, the 'Make in India' initiative. The conference brought together thought leaders in industry, trade, diplomacy, economics and journalism from India and US.
In his opening remarks, Consul General of India in Houston Dr Anupam Ray said that the conference was a platform for people involved with writing the India story to help the next generation write the new chapters.
Jagdip Ahluwalia, a co-founder of the Indo-American Chamber of Commerce of Greater Houston (IACCGH), reflected in how far the US-India trade equation has progressed in recent time and how it has been helping with jobs creation in Texas and India.
Trump presses EU on trade barriers in tit-for-tat
President Donald Trump renewed his demand today that the European Union halts its trade barriers to US products in order to spare his allies new steel and aluminium tariffs.
The American president made his comments after crunch talks in Brussels between EU negotiators and US Trade Representative Robert Lighthizer in an effort to defuse a bitter row that many fear could turn into an all-out trade war.
The EU's top trade official said the US failed to provide full clarity on how Europe and Japan could be spared set to continue next week.
"The European Union, wonderful countries who treat the US very badly on trade, are complaining about the tariffs on Steel & Aluminium," Trump said.
"If they drop their horrific barriers & tariffs on US products going in, we will likewise drop ours. Big Deficit. If not, we Tax Cars etc. FAIR!"
President Donald Trump's announcement of duties of 25 per cent on imported steel and 10 per cent on aluminium has stung the European Union, along with other major partners including Japan, whose Economy Minister Hiroshige Seko also attended the talks in Brussels.
"As long-standing security partners of the United States, (the EU and Japan) underlined to ambassador Lighthizer their expectation that EU and Japanese exports to the US would be exempted from the application of higher tariffs," an EU statement said after the talks.
Harsimrat Badal urges PM to take up turban issue with French president
Union Minister Harsimrat Kaur Badal today urged Prime Minister Narendra Modi to take up with French President Emmanuel Macron the issue of Sikh community members in France being asked to remove their turbans for all official identification.
The Union minister for food processing said she had written to the prime minister in this regard.
Badal said she had "received repeated requests from the Sikh Community settled in France as well as the Counseil Representatif des Sikhs de France that a law which required removal of turbans while being photographed for passport, ID card, health card, transport card, driving licence or any other identification issued by the French administration was causing them severe humiliation".
Stating that the law was in a violation of Sikh tenets, Harsimrat Kaur, who is also the SAD MP from Bathinda, said the Sikh community was confident that this issue could be addressed under the leadership of Prime Minister Modi.
She said this was very important because nowhere else in the world Sikhs were subjected to this kind of discrimination.
Asserting that the turban was an integral part of the Sikh identity, Badal, in a statement here today, said there was a need to sensitise the French government about the Sikh culture.
