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Mar 12, 2018 10:07 PM IST | Source: Moneycontrol.com

News Highlights: Govt accepts farmers’ demands; 50 killed in Kathmandu plane crash; Airbus A320neos grounded

Here are key global and local developments that impacted business and markets through the day. Important local and global political developments also find resonance here.

  • Mar 12, 10:07 PM (IST)

    With this we conclude our Live Blog. Thanks for tuning in. 

  • Mar 12, 09:57 PM (IST)

    Rahul meets Macron, Rafale deal not discussed
    Congress President Rahul Gandhi met French President Emmanuel Macron on Sunday and discussed with him issues that affect liberal democracies including fake news.
    The Congress chief, however, did not raise the Rafale fighter jet deal with Macron, party sources said.
    The Congress has been attacking the BJP government on the defence deal, accusing Prime Minister Narendra Modi of causing loss to the state exchequer by buying the fighter jets at inflated rate.
    "Yesterday, I met with French President @EmmanuelMacron. We discussed a range of issues common to our liberal democracies, including fake news.

  • Mar 12, 09:09 PM (IST)

    PNB scam: IMF official calls for governance reforms at PSBs

    The International Monetary Fund has said banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.
    "Reforms like the IBC Code, bank recapitalisation have taken place. However, for a lasting impact, these efforts are not enough and should be accompanied by governance reforms particularly for public sector banks," the multilateral body's deputy managing director Tao Zhang said at an event at the NSE here this evening.
    There is a need to look at the "deeper issue" of governance at the banks, he told reporters later.
    Without naming the Punjab National Bank, he said the scam has "revealed the necessities and urgencies to improve the internal controls", which is crucial not only for improving banks but also "financial stability".

  • Mar 12, 08:33 PM (IST)

    Sunanda Pushkar was ‘murdered’, claims report

    An unverified report has claimed that former Union Minister Shashi Tharoor’s wife, Sunanda Pushkar was murdered. The report, citied by DNA, suggests that investigators were aware that the socialite was murdered.
    According to the newspaper, the initial official report by the Sub Divisional Magistrate (SDM) at Vasant Vihar said who inspected the scene of crime stated that Pushkar, whose body was found in 2014 in her suite in Delhi’s Hotel Leela Palace, did not commit suicide.
    It further said that the Sub Divisional Magistrate had ordered the Station House Officer of Sarojini Nagar to investigate the case as murder.

  • Mar 12, 08:14 PM (IST)

    UN investigator: Human rights must be part of any talks with North Korea

    Any progress in the nuclear and security dialogue with North Korea at upcoming summits must be accompanied by discussions on human rights violations, including political prison camps, the U.N. investigator on the isolated country said on Monday.
    U.S. President Donald Trump has agreed to meet with North Korean leader Kim Jong Un by the end of May to discuss the future of nuclear weapons programme. The two Koreas will hold a summit by the end of April, at the "truce village" of Panmunjom on their border.
    "Today, we witness what appears to be a potential for rapid progress on the political and security front, with communication channels steadily building up between the two Koreas as well as the United States of America, and historical summits plans for the future," Tomas Ojea Quintana, U.N. special rapporteur on human rights in the Democratic People's Republic of Korea (DPRK), told the world body's Human Rights Council.

  • Mar 12, 07:45 PM (IST)

    HC grants bail to AAP MLA Amanatullah Khan in chief secy assault case

    AAP MLA Amanatullah Khan, who was under judicial custody in the Chief Secretary Anshu Prakash assault case, was today granted bail by the Delhi High Court with conditions.
    Justice Mukta Gupta directed Khan to furnish a personal bond of Rs 50,000 and two sureties of the like amount.
    With regard to its earlier suggestion to Delhi Government to videograph the meetings between legislators and bureaucrats, the court said it never intended to encroach into legislative domain and it was "just a request so that no unforeseen incident takes place".
    The High Court clarified that in case the complainant (Chief Secretary) and other witnesses were harassed, it would be for them to show that the harassment and  intimidation was in retaliation of the FIR lodged against the Khan.

  • Mar 12, 07:17 PM (IST)

    PM, president to get their own planes by early 2020

    India's first set of brand new planes for the prime minister, president and vice-president will be customised and be ready for use by early 2020, senior government officials said.
    Two Boeing 777-300 ERs, bought by Air India recently, will be retrofitted to have VIP enclosures, a press conference room and a patient transport unit for medical emergencies.
    The aircraft will also be equipped with Wi-Fi on board and have anti-missile protection, a senior official said.
    A Boeing 777 unlike the older Boeing 747, which were borrowed from Air India as and when a VVIP visited overseas, can fly non-stop to the US, thereby dispensing with the need to halt for refuelling.

  • Mar 12, 06:58 PM (IST)

    Government will take action on Chidambaram for relaxing gold import norms

    Stepping up the heat on former finance minister P Chidambaram, the government today said it will take action against the persons who relaxed gold import norms for private trading houses during the dying days of the UPA regime resulting in a windfall of Rs 4,500 crore to 13 such entities in just six months.
    The ruling BJP had earlier this month accused Chidambaram of aiding jewellers Mehul Choksi and Nirav Modi -- main accused in the country's biggest bank fraud case -- through an 80:20 gold import scheme.
    Without naming any of the jewellers who may have benefited from the scheme, the government said in a statement that it had taken the "bold" step to scrap the scheme within months of coming to power to end all discrimination in the favour of private gold importers.

  • Mar 12, 06:47 PM (IST)

    Kathmandu plane crash: 50 reportedly killed, several others injured

    Around 50 people died after the US-Bangla Airlines plane they were travelling in crashed while landing at the international airport in Kathmandu, Nepal on Monday afternoon.
    There were 71 people on board the plane arriving from Dhaka when it clipped the fence at the airport and burst into flames, said Raj Kumar Chettri, general manager of the hill-ringed airport.
    Those aboard included 33 Nepali passengers, 32 Bangladeshis, one passenger from China and one from the Maldives.
    "We have recovered 50 dead bodies so far," said army spokesman Gokul Bhandari. Although several people had been rescued from the wreckage of the Bombardier Q400 series aircraft, nine people were still unaccounted for, he added.

  • Mar 12, 06:20 PM (IST)

    Infosys to voluntarily delist from Euronext Paris and Euronext London exchanges

    Infosys has said that it will voluntarily delist from Euronext Paris and Euronext London exchanges.

    The company has said that the primary reason for seeking delisting is low average daily trading volume.

    Infosys has said that the average daily trading volume at these exchanges are significantly lower than the New York Stock Exchange (NYSE), CNBC TV18 has reported.

    The company has also said that it would continue to be listed on the NYSE.

  • Mar 12, 06:14 PM (IST)
  • Mar 12, 05:45 PM (IST)

    EU hits out at trade 'bullies' as Trump row deepens
    The EU's top trade official today said Europe would stand up to intimidation by protectionists, as a row with US President Donald Trump over controversial steel and aluminium tariffs heated up.

    "In some places trade has been to blame for the pains of globalisation or they used it as a scapegoat or they think we can live behind walls and borders," European Trade Commissioner Cecilia Malmstroem said at a conference in Brussels.

  • Mar 12, 05:35 PM (IST)

    January IIP at 7.5 percent vs 7.1 percent in December.

  • Mar 12, 05:33 PM (IST)

    February CPI inflation at 4.44 percent vs 5.07 percent in January. 

  • Mar 12, 05:31 PM (IST)

    Sources say GST being evaded via black marketing, undervaluing imports
    Less than nine months into the GST regime, revenue authorities have detected rampant tax evasion through black market and under-valuing of imports.

    Big data analytics by the authorities has revealed that although importers are paying GST, they are supplying the goods without bill, sources told PTI.

  • Mar 12, 05:28 PM (IST)

    Rise in home sales, dip in QTS indicate market recovery: ICRA
    In what can be seen as a possible recovery in the housing market, sales improved by 29.3 percent year-on-year during the April to December period last year, while the time taken to clear the inventory went down to 12 quarters, according to an ICRA report.

    Real estate companies sold 17.26 million sq ft during the nine months, against 13.35 million sq ft in the year-ago period, according to rating agency, which considered a sample size of 11 listed entities.

  • Mar 12, 05:18 PM (IST)

    No data maintained of fake education boards: HRD Ministry
    The HRD Ministry today said it does not maintain any data of fake education boards found functioning in the country.

    The minister of State for HRD, Upendra Kushwaha, said in a written response to a question in Lok Sabha that "some instances of functioning of fake education boards have come to the notice of the Ministry".

  • Mar 12, 05:04 PM (IST)

     DGCA grounds IndiGo and GoAir Airbus A320neos

    The DGCA has grounded few Airbus A320neos. DGCA has grounded eight A320neos belonging to IndiGo and three of GoAir, fitted with Pratt & Whitney engines. DGCA has asks both airlines to ground planes till further notice, according to a report by CNBC TV18.

    DGCA has said that the planes have been grounded in light of 'occurrences of aborted take-off and in flight shutdown' on A320neo's powered by Pratt & Whitney engines.

    The civil aviation authority has said that no concrete proposal has been given by Pratt & Whitney yet on when the engine woes will be resolved.

  • Mar 12, 05:00 PM (IST)

    Senior Samajwadi Party (SP) leader Naresh Agrawal has joined the Bharatiya Janata Party (BJP) in presence of Union Minister Piyush Goyal at the BJP headquarters in Delhi.

  • Mar 12, 04:51 PM (IST)

    Vodafone likely to launch VoLTE in Tamil Nadu this year

    Telecom service provider Vodafone today indicated of launching the Voice over LTE (VoLTE) service in Tamil Nadu during this year, according to a top official.

    Asked whether roll out of VoLTE service would happen this year, Vodafone, Tamil Nadu, Business-Head, S Murali said, "(we) should be (launching it)".

    "You will get to know (once we launch VoLTE service). We have launched it (VoLTE service) in many parts of the country", he said declining to elaborate.

    Some of the cities Vodafone offers VoLTE services include Mumbai, Gujarat, Delhi, Karnataka and Kolkata. (PTI)

  • Mar 12, 04:38 PM (IST)

    Kathmandu plane crash update: The Associated Press has reported Nepal police official as saying that at least 38 have been killed and 23 have been injured in the plane crash in Kathmandu. The police added that 10 people are still unaccounted for.

  • Mar 12, 04:35 PM (IST)

    Jammu and Kashmir Finance Minister Haseeb Drabu has been removed from the state’s Cabinet for remark that Kashmir is not a political issue, CNBC TV18 has reported.

  • Mar 12, 04:18 PM (IST)

     Bill on chit funds sector introduced in Lok Sabha

    A Bill to streamline and strengthen the chit fund sector was introduced in the Lok Sabha today which mandates video conferencing while the opening of bids and seeks to hike commission of foremen from 5 percent to 7 percent.

    The Chit Funds (Amendment) Bill, 2018 is based on the recommendations of the Parliamentary Standing Committee on Finance and the Advisory Groups on Chit Funds set up by the central government.

    The Amendment Bill provides for allowing the mandatory presence of two subscribers, as required either in person or through video conferencing duly recorded by the foreman, while the bids are being opened. (PTI)

  • Mar 12, 04:09 PM (IST)

    Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra

  • Mar 12, 04:04 PM (IST)

     Parliament proceedings disrupted by protests, economic offenders bill introduced amid din

    The proceedings in both Houses of Parliament were stalled for the sixth day today with no let-up in protests by opposition parties and NDA ally TDP over various issues including the banking scam, special status to Andhra Pradesh and the Cauvery water dispute.

    The Aam Aadmi Party too joined the protests in Rajya Sabha, demanding an end to the sealing drive in Delhi.

    Amid the din in Lok Sabha, Minister of State for Finance Shiv Pratap Shukla introduced The Fugitive Economic Offenders Bill 2018 that seeks to confiscate all assets of absconding fraudsters and loan defaulters for recovering dues from them. (PTI)

  • Mar 12, 03:46 PM (IST)

    The Sensex spurts 610.80 points to close at 33,917.94, logging its biggest single-day gain since March 2016. The Nifty rose 194.55 points to 10,421.40.

  • Mar 12, 03:42 PM (IST)

    Parliament proceedings disrupted by protests, Economic Offenders Bill introduced amid din

    The proceedings in both Houses of Parliament were stalled for the sixth day today with no let up in protests by opposition parties and NDA ally TDP over various issues including the banking scam, special status to Andhra Pradesh and the Cauvery water dispute, reports PTI. The Aam Aadmi Party too joined the protests in Rajya Sabha, demanding an end to the sealing drive in Delhi.

    Amid the din in Lok Sabha, Minister of State for Finance Shiv Pratap Shukla introduced The Fugitive Economic Offenders Bill 2018, that seeks to confiscate all assets of absconding fraudsters and loan defaulters for recovering dues from them. The Minister also introduced the The Chit Funds (Amendment) Bill 2018.

  • Mar 12, 03:39 PM (IST)

    A Metro train moves across the new Majlis Park and Durgabai Deshmukh South Campus Metro section during a media preview in New Delhi on Monday. Majlis Park-Shiv Vihar corridor (Line 7) of the metro network, also known as the Pink Line, is part of the Phase-III project. PTI

       A Metro train moves across the new Majlis Park and Durgabai Deshmukh South Campus Metro section during a media preview in New Delhi on Monday. Majlis Park-Shiv Vihar corridor (Line 7) of the metro network, also known as the Pink Line, is part of the Phase-III project. PTI
  • Mar 12, 03:27 PM (IST)

    Syria war has killed more than 350,000 in 7 years: monitor

    Seven years of conflict in Syria have left 353,395 people dead since March 15, 2011, according to an updated overall death toll released today by the Syrian Observatory for Human Rights. (AFP)

  • Mar 12, 03:23 PM (IST)

     Airtel to raise Rs 16,500 cr for refinancing debt, spectrum payment

    Telecom major Bharti Airtel received approval from the board to raise up to Rs 16,500 crore for refinancing debt and paying for spectrum liabilities. The board approved "issuance of non-convertible debentures (NCDs) of up to Rs 10,000 crore on a private placement basis" and "issuance of foreign currency bonds up to a limit of $1 billion or equivalent in one or more tranches", Airtel said in a regulatory filing.

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