Latest news today (August 3): Presenting FE’s Breaking News today. We will keep you updated on all major news, views and much more throughout the day.
PM Modi will attend BRICS summit, says sources
PM Modi will travel to Johannesburg to attend the BRICS summit this month, Reuters reported. The Indian government reportedly said that PM Modi spoke with South African President Cyril Ramaphosa by phone earlier.
Lok Sabha passes Delhi services bill
The Government of National Capital Territory of Delhi (Amendment) Bill, 2023, which will replace an ordinance promulgated for handling the transfers and postings of senior officers in the city government has been passed in Lok Sabha. The Delhi services bill was passed after a nearly four-hour-long debate which was replied to by Union Home Minister Amit Shah. (PTI) (READ MORE)
India may become USD 6.7 trillion economy by 2031: S&P Global
India can become a USD 6.7 trillion economy by 2031, from USD 3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years, an S&P Global, a PTI report said.
Government contacts opposition to resolve Rajya Sabha logjam
Union ministers Piyush Goyal and Pralhad Joshi reached out to Congress chairman Mallikarjun Kharge and other opposition leaders on Thursday to resolve the stalemate in Rajya Sabha over the Manipur issue.
Anjuman Intezamia moves SC over Gyanvapi survey
The Anjuman Intezamia Masjid Committee has decided to move to the Supreme Court to challenge the Allahabad High Court order which allowed ASI to conduct a scientific survey by ASI of the Gyanvapi mosque premises.
17 injured in clashes in Bishnupur, Imphal
In clashes between the protestors and security forces, almost 17 people were injured in Bishnupur district. Army and RAF personnel fired tear gas shells at the Kangvai and Phougakchao area which led to the injuries of 17 people.
Gayanvapi’s ASI survey from tomorrow, says report
The Archeologoical Survey of India will begin the inspection of Gyanvapi Mosque from tomorrow, a TOI report says. The development comes hours after the Allahabad HC paved way for the survey in its ruling by dismissing the plea of Muslim side against Varanasi Court’s order.
Mahindra and Mahindra-Temasek deal
Mahindra and Mahindra has raised $145 million from Temasek for its electric vehicle unit at a valuation of up to 805.8 billion rupees ($9.8 billion), the latest fundraising by the Indian automaker as it looks to ramp up EV sales. Temasek will take up to a 3% stake in the company which last year raised up to $250 million from British International Investments (BII) at a valuation of as much as $9.1 billion. (Reuters)
Dabur Q1 results announced
Consumer goods-maker Dabur India reported a rise in first-quarter profit on Thursday as easing inflation propped demand. The company’s consolidated net profit rose 5.4% year-on-year to 4.64 billion rupees ($56.1 million) in the quarter ended June 30. India’s annual retail inflation cooled to a more than two-year low in May as food costs eased, driving up discretionary spending. The company said last month that demand in both urban and rural segments has picked up. (Reuters)
ED recovers foreign currency after raids at Pawan Munjal’s residence
ED conducted searches, on 01.08.2023 at 12 locations in Delhi and Gurugram in a case of money laundering involving P K Munjal, Chairman & MD of M/s Hero Motocorp Limited, M/s Hero Fincorp Limited and employees of M/s Salt Experience and Management Pvt. Ltd (SEMPL), the ageny said in a tweet. “ED conducted searches, on 01.08.2023 at 12 locations in Delhi and Gurugram in a case of money laundering involving P K Munjal, Chairman & MD of M/s Hero Motocorp Limited, M/s Hero Fincorp Limited and employees of M/s Salt Experience and Management Pvt. Ltd (SEMPL),” another post read
India restricts import of laptop, computers to push local manufacturing
India has restricted imports of laptops, tablets and personal computers with immediate effect, according to a government notice on Thursday, in a bid to push local manufacturing. “Their import would be allowed against a valid licence for restricted imports,” the notice said. In April-June, electronics imports, which include laptops, tablets and personal computers, was $19.7 billion, up 6.25% year-on-year. “The move’s spirit is to push manufacturing to India. It’s not a nudge, it’s a push,” said Ali Akhtar Jafri, former director general at electronics industry body Manufacturers’ Association of Information Technology. (Reuters)
Morgan Stanley rises India’s status to ‘overweight’, downgrades China
Morgan Stanley has upgraded India to overweight while downgrading China. Now, according to the latest reports, China’s status has been downgraded to ‘equalweight’. Betting big on India, Morgan Stanley believes in young demographic profile.
India’s services sector growth climbs to 13-year high in July on pick-up in international sales: PMI
India’s services sector growth touched a 13-year high in July as a substantial improvement in demand conditions and pick-up in international sales induced the strongest increase in new business and output, a monthly survey said on Thursday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.5 in June to 62.3 in July, signalling the sharpest increase in output since June 2010. (PTI)
Karnataka gets $600 million investment from Foxconn
Foxconn has decided to invest $600 million in Karnataka to establish 2 manufacturing plants in the state. According to Karnataka government, the project is likely to create nearly 14,000 jobs.
AFP sues X
Agence France-Presse said that it filed a lawsuit in Paris against Elon Musk’s X social media platform, formerly known as Twitter, accusing it of failing to discuss potential payment for the distribution of the news agency’s content. France in 2019 enacted a copyright rule dubbed “neighbouring rights” that compels large online platforms to open talks with publishers seeking remuneration for news. (Reuters)
Allahabad HC allows Gyanvapi survey
The Allahabad High Court on Thursday allowed the ASI survey of Gyanvapi Mosque. In its order, the court dismissed Anjuman Intezamia Masjid Committee’s challenge and paved way for the ASI inspection. The court also said that the scientific survey was in the ‘interest of justice’. On July 21, the Varanasi Court had ordered the ASI to conduct a survey of the mosque to know whether it was built on a temple or not. (READ MORE)
Air India Express flight makes precautionary landing at Kochi
An Air India Express flight from Kochi to Sharjah made a precautionary landing at the airport here on August 2 night after a passenger reported a suspected burning smell shortly after takeoff, an airline source said on Thursday. According to the source, soon after the takeoff of the aircraft from the Cochin International Airport, a guest reported some kind of suspected burning smell. As somebody had reported a burning smell inside the aircraft, as a precautionary measure it was decided to turn back. (PTI)
Ambuja Cement buys Sanghi Industries at an Enterprise Value of Rs 5,000 cr
Ambuja Cement has acquired Sanghi Industries at an EV of Rs 5,000 crore, latest reports say. The acquisition will be fully funded via internal accruals. With this deal, Ambuja’s capacity will rise up to 73.6 MTPA. (READ MORE)
Haryana violence, Mobile internet ban extended in these areas
The Haryana administration has decided to extend the internet ban in Nuh, which saw communal clashes on Monday. Along with Nuh, Palwal, Sohna, Pataudi and Manesar will also see internet ban till August 5, a government circular said on Thursday.
Andaman hits by another earthquake of 4.3 magnitude
The union territory of India, Andaman is hit with an earthquake of magnitude 4.3 according to the National Center for Seismology.
Haryana govt shifts 2nd IRB battalion headquarters to Nuh for law and order
In the wake of violent clashes in parts of Haryana, the state government on Wednesday decided to immediately shift battalion headquarters of the 2nd India Reserve Battalion (IRB) from Police Complex, Bhondsi to Nuh district. According to Haryana Government’s Home Department order, “The State Government has decided to immediately shift the Battalion Headquarters of 2 IRB from Police Complex, Bhondsi to district Nuh to meet imminent operational exigencies of maintaining law and order, peace and security.” (ANI)