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News highlights of the day: Oath taking ceremony of Karnataka ministers tomorrow in Raj Bhavan

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.

June 05, 2018 / 22:02 IST
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  • June 05, 2018 / 22:02 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.

  • June 05, 2018 / 21:36 IST

    Shah reaches out to allies; to meet Badal, Thackeray 

    Reaching out to NDA allies ahead of the 2019 general elections, BJP chief Amit Shah will meet Shiv Sena president Uddhav Thackeray in Mumbai tomorrow and Shiromani Akali Dal supremo Parkash Singh Badal in Chandigarh the following day, party leaders said on Tuesday.

    On June 3, Shah met LJP chief and Union minister Ram Vilas Paswan, who raised the issue of special status for Bihar. Sources also said that the Shah also meet Nitish Kumar and Mehbooba Mufti, chief ministers Bihar and Jammu & Kashmir respectively. (PTI)

  • June 05, 2018 / 21:20 IST

    Karnataka cabinet ministers swearing in

    : Oath taking ceremony of Karnataka ministers will take place on Wednesday at 2.12 pm in Raj Bhavan in Bengaluru. Congress has been allocated 22 portfolios and 12 ministerial berths have been allocated to JD(S), ANIreported.

  • June 05, 2018 / 21:00 IST

    Kumaraswamy to expand ministry tomorrow 

    A fortnight after becoming Chief Minister, H D Kumaraswamy will expand his two-member cabinet tomorrow after days of hard bargaining between the ruling coalition partners, JDS and Congress.

    At least nine MLAs from JDS would be inducted into the ministry in the first phase, Kumaraswamy said, on the eve of the expansion exercise, even as Congress was still discussing the names and awaiting the central leadership's green signal till this evening.(PTI)

  • June 05, 2018 / 20:37 IST

    10 killed in

    landslide in Mizoram, no relief from searing heat in North

    Ten people were killed in a landslide triggered by heavy rain in Mizoram, while the northern states continued to reel under the searing heat today with Churu sweating it out at 48.5 degrees Celsius.

    Pre-monsoon showers have evaded the north so far, and it will be weeks before the rains reach the arid plains. The weatherman today forecast "heavy to very heavy rain" in Goa, Telangana and Karnataka and "heavy rain" in Assam, Meghalaya, Odisha, Maharashtra, Andhra Pradesh, and Kerala. (PTI)

  • June 05, 2018 / 20:22 IST

    Singapore declares Sentosa security zone for Trump-Kim summit, over 2,500 journos to cover

    Singapore on Tuesday designated a special event area of the Sentosa island tourist resort for the upcoming summit between US President Donald Trump and North Korean leader Kim Jong Un with over 2,500 journalists expected to cover the historic meeting.

    The second area to be named for the summit was announced in a public order published in the Government Gazette online today which adds to a previous announcement that designated the area around Shangri-La Hotel here as a special event area for the summit which is scheduled to take place on June 12.

    Extra security measures will be in force for these areas in the period between June 10 and 14.

  • June 05, 2018 / 20:05 IST

    No FIR, yet a probe against me: Chidambaram on ED questioning

    Senior Congress leader P Chidambaram, who was questioned by the Enforcement Directorate in connection with the Aircel-Maxis money laundering case today, said all the answers he gave to the probe agency were already recorded in government documents.

    Chidambaram also said no FIR was registered against him, yet a probe had been initiated against him.

    "Appeared before the ED. The questions were about what is already recorded in the file. Hence, answers too were what is recorded in the file. Need to reiterate there is no FIR, no offence alleged, yet there is an investigation," he tweeted. (PTI)

  • June 05, 2018 / 19:36 IST

    CAIT urges government to take immediate steps to secure consumer, business data

    Traders body CAIT on Tuesday urged the IT Ministry to take immediate steps to ensure data security for consumers and businesses in India in the wake of reports that social networking giant Facebook had data sharing partnerships with several handset makers.

    In a communication sent today to IT minister Ravi Shankar Prasad, CAIT urged the senior leader to "take immediate steps to deal with this crucial issue of cyber security".

    "...Sharing of such data may result in consolidation of business in few hands as data analytics could easily give information about the nature, preferences, capacity and capability, trends, purchase or sale behaviour of person or persons or trade groups," CAIT said.

  • June 05, 2018 / 19:17 IST

    SEBI puts in place guidelines for preferential issue by InvITs

    Markets regulator SEBI on Tuesday put in place a detailed framework for listed Infrastructure Investment Trusts (InvITs) to make preferential issue of units to institutional investors, according to a PTI report.

    SEBI said preferential issues need to be completed within 12 months from the date of passing of the resolution by InvIT's unit holders.

    The units in a preferential issue would be offered and allotted to a minimum of two investors and a maximum of 1,000 investors in a financial year.

    According to SEBI, the gap between preferential issues of units by InvITs should be six months, and allotment needs to be completed within 12 days.

  • June 05, 2018 / 19:06 IST

    CM Nitish Kumar launches veiled attack on Tejashwi Yadav

    In a veiled attack on RJD leader Tejashwi Yadav, Bihar Chief Minister Nitish Kumar today said young leaders owing their position in politics to their families were interested in acquiring a post quickly to "make money".

    Without naming any party or leader, Kumar also criticised excessive use of the social media by political figures. (PTI)

  • June 05, 2018 / 18:44 IST

    Amit Shah to meet Ratan Tata, Lata Mangeshkar and Madhuri Dixit in Mumbai tomorrow

    BJP president Amit Shah will meet industrialist Ratan Tata, singer Lata Mangeshkar and actor Madhuri Dixit on Wednesday and share the Modi government's achievements with them as part of his party's "contact for support" campaign, sources in the party said.

    Shah, who will be in Mumbai tomorrow, is also scheduled to meet sporting legend Milkha Singh on June 7 in Chandigarh, they said.

    The BJP launched a mega public drive, 'Sampark for Samarthan', following the Modi government's fourth anniversary on May 26. It announced that 4,000 functionaries of the party will contact one lakh people, who are well-known names in their fields, to spread the word about the government's works during its four-year tenure. Shah will himself contact 50 people, the party had said. (PTI)

  • June 05, 2018 / 18:19 IST

    Daimler unveils new generation Mercedes-Benz bus at Tamil Nadu plant

    German automaker Daimler on Tuesday unveiled its latest flagship product Mercedes-Benz 2441 Super High Deck bus, manufactured at the company's plant, according to PTI.

    Daimler Buses India, part of the Daimler India Commercial Vehicles, launched the 15 metre luxury coach, which it claimed was the lightest in the class and offered more power and comfort.

  • June 05, 2018 / 18:08 IST

    Competition Commission orders probe against BCCI for 'abuse of dominant position'

    The Competition Commission has ordered a detailed investigation against the Indian cricket board BCCI for alleged abuse of dominant position with regard to running professional domestic cricket leagues in the country.

    The decision has come on a complaint filed by Pan India Infraprojects Pvt Ltd (formerly known as Essel Sports Pvt Ltd).

    In a 14-page order, dated June 1, the CCI said there is "prima-facie" a case of abuse of dominant position by the BCCI which is in violation of competition norms.

    "Thus, it appears that BCCI has abused its dominant position in the market of organisation of professional domestic cricket leagues in India by excluding the informant (Pan India Infraprojects) or any of its group companies from participating in tenders for media rights for IPL," the order said.

    The regulator noted that apart from restraining the organisation of a competitive league (ICL) by Pan India Infraprojects, the BCCI appears to have excluded it from downstream market by disallowing it to bid for the Indian Premier League (IPL) media rights. (PTI)

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