Latest Breaking News Today Highlights, July 16, 2024: Welcome to the Financial Express live blog! Here, we deliver real-time updates on both domestic and global events, keeping you informed on the latest developments as they unfold. Whether it’s crucial political updates, important economic reports, notable business developments, or breaking news alerts, we are dedicated to bringing you comprehensive coverage. Stay tuned for continuous updates, expert insights, and immediate analysis. Don’t miss a moment with our timely and in-depth news reporting. Track the real-time developments of major events for July 16, 2024.
Latest News Today, India News Live, Top Breaking News Today Live Updates July 16, 2024: Get the latest news updates and breaking news stories from India and around the world right here.
During the 2023 Indian Premier League season, a notable confrontation took place between Lucknow Super Giants’ mentor Gautam Gambhir and Royal Challengers Bangalore’s star batter Virat Kohli during their match in Lucknow. According to LSG leg-spinner Amit Mishra, it was Kohli who instigated the conflict by “abusing” LSG players, prompting Gambhir to intervene.
In a significant relief to medical aspirants, the Gujarat government has announced a partial rollback in fees for MBBS courses in 13 colleges under the state-run Gujarat Medical Education and Research Society (GMERS) following a recent fee hike, reported PTI. The decision, made public on Tuesday, comes in response to widespread protests by students and political parties.
SpiceJet’s Chief Financial Officer, Ashish Kumar, has resigned to pursue other opportunities, the airline announced on Tuesday, July 16. Following his departure, Joyakesh Podder has been appointed as the Deputy Chief Financial Officer, effective July 15, 2024.
Podder, a seasoned chartered accountant with over 30 years of experience, has worked with renowned organizations such as PwC, Reliance, Mahindra, Go Air, and previously with SpiceJet, among others in the aviation, hospitality, and telecom sectors.
Read More: SpiceJet appoints Joyakesh Podder as Deputy CFO after Ashish Kumar resigns
Aluminium producers have urged the government to raise import duty on aluminium scrap from 2.5% to 7.5% in the upcoming budget. They also advocate maintaining the duty on primary aluminium imports at 7.5% or increasing it to 10%. This measure aims to curb the influx of sub-standard materials and protect the domestic industry, which supports the livelihoods of over 10 lakh people.
The International Monetary Fund (IMF) on Tuesday increased India’s growth projection for FY25 to 7% — 20 basis points higher than its April estimate. The IMF in its latest World Economic Outlook (WEO) update for July attributed this rise to improved prospects for private consumption, especially in rural areas.
Read More: IMF boosts India’s FY25 growth forecast to 7% from 6.8%; maintains global growth outlook
A 59-year-old man, who endured 42 hours trapped in an elevator at a major government hospital in Kerala over the weekend, described his harrowing experience and how he resorted to writing a farewell note to his family while confined in the lift.
Ravindran Nair was heading to the outpatient department of the hospital when the lift malfunctioned on Saturday, leaving him stuck midway. Without water and unable to move for an extended period, Nair’s arms and legs began losing mobility.
Read More: Trapped for 42 hours: 59-year-old man’s harrowing elevator experience at hospital leads to probe
The government has scheduled an all-party meeting on July 21 ahead of the Monsoon Session of Parliament, which begins next Monday, according to sources. If he attends, this will be the first session-eve meeting for Congress MP and Leader of Opposition Rahul Gandhi.
However, the Trinamool Congress will not participate, as they observe July 21 as Martyrs’ Day. This day commemorates the 13 Congress supporters who were shot by Kolkata Police during a 1993 march to the state secretariat, Writers’ Buildings, under the CPI(M)-led Left Front government in West Bengal.
In a letter issued on Tuesday, the Lal Bahadur Shastri National Academy of Administration announced the immediate suspension of Probationary IAS officer Puja Khedkar’s training. Khedkar has been released from the District Training Program in Maharashtra and recalled to the Mussoorie Academy. (Read More)
The Indian Institute of Technology (IIT) Delhi has released the schedule for the Joint Admission Test for Masters (JAM) for the 2025 academic year. Registration for IIT JAM 2025 will open on September 3 and close on October 11. The exam is set for Sunday, February 2, 2025.
The Uttar Pradesh government has extended its Electric Vehicle Manufacturing and Mobility Policy until 2027, providing continued subsidies and incentives for the EV sector. Originally launched in October 2022 to promote clean mobility, the policy's extension follows the state's recent exemption of all hybrid vehicles from road tax and registration fees. Industry experts had expected this extension due to the recent incentives for hybrid vehicles, CNBC TV reported. READ MORE
A senior member of Naam Tamilar Katchi (NTK), Balasubramanian, was hacked to death by an unidentified gang in Madurai, Tamil Nadu, on Tuesday. Police have ruled out a political motive, stating instead that the killing was a revenge attack. According to PTI, Balasubramanian was on a morning walk when the gang chased and killed him, a police official reported. READ MORE
The Commissioner of Railway Safety emphasized that the accident involving the Kanchanjunga Express and a goods train was considered "inevitable," citing numerous oversights in the management of train operations within automatic signal zones, compounded by inadequate guidance for loco pilots and station masters.
The stock of Jio Financial Services dropped over 2% to a low of Rs 346.75, intraday, as its net profit and declined on year in Q1 of FY25. The company reported a 5.72% decline in its consolidated net profit for Q1 FY25. The company reported a net profit of Rs 313 crore in Q1 Of FY25 in comparison to Rs 332 crore it posted in the same quarter a year ago. Also, the company saw a drop of 19.8% on year in its interest income standing at Rs 162 crore in Q1 FY25 in comparison to Rs 202 it posted in the corresponding period previous year.
Officials report that approximately 51% of applications received under the PM CARES for Children scheme for COVID orphans have been declined. Launched on May 29, 2021, during the peak of COVID-19 cases in India, the scheme aims to assist children who lost their parents, legal guardians, adoptive parents, or surviving parent due to the pandemic between March 11, 2020, and May 5, 2023. According to official statistics, a total of 9,331 applications were submitted from 613 districts across 33 states and union territories (UTs) under this initiative.
Shares of debt-laden Vodafone Idea rallied 6% during early trade on Tuesday, reaching a high of Rs 17.66, following the Chief Justice of India‘s decision to review its plea concerning Adjusted Gross Revenue (AGR) dues.
The Northern Railway has made comprehensive arrangements to facilitate the travel of Kanwarias during the Kanwar Mela in Haridwar, scheduled from July 22 to August 19. In a press release, Northern Railway announced the extension of services for trains no. 04465/66 (Delhi-Shamli-Delhi) and 04403/04 (Delhi-Saharanpur-Delhi) to include stops at Haridwar.
Chief of Army Staff Gen Upendra Dwivedi provided Defence Minister Rajnath Singh with an update on Tuesday regarding the ongoing anti-terror operation in Jammu and Kashmir's Doda district. Official sources have confirmed that four army personnel, including an officer, lost their lives during the operation against a well-armed group of terrorists.
Read More: Jammu and Kashmir: Army officer among 4 soldiers killed in Doda encounter
Examining data from the last three decades shows that the Sensex has posted positive returns on Budget days only twice, in 2006 and 2017. Since the year 2000, these occasions have seen significant fluctuations in market performance, ranging from a high of 4.1% in 2021 to a low of -5.4% in 2009, underscoring the market's volatility during these periods.
Equity benchmark indices extended their upward trend into the third consecutive day in early trading on Tuesday, driven by foreign fund inflows and a strong performance in the US markets. The 30-share BSE Sensex rose by 185.55 points to reach 80,850.41. Meanwhile, the NSE Nifty surged by 63.35 points, reaching a new all-time high of 24,650.05. Leading the gains among the Sensex constituents were Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Adani Ports, Infosys, ICICI Bank, and Titan.
the East Coast Railway unveiled its plans to run special trains this month for two significant rituals at the Lord Jagannath temple in Puri. Indian Railways will operate 43 special trains for Sunabhesa (golden attire) and 33 special trains for Adharapana (sweet water offering) to ensure convenient travel for passengers.
Read More: Indian Railways announces special trains to Puri for Lord Jagannath's rituals
Jitan Sahani, father of Mukesh Sahani, former minister and national president of Vikassheel Insaan Party (VIP), was found murdered at his native house in Darbhanga district of Bihar under the Biraul police station. A mutilated body was found in the house and police have reached the spot.
Read more: Mutilated body of Jitan Sahani, father of Vikassheel Insaan Party chief, found in Bihar’s Darbhanga
Four Indian Army soldiers, including an officer, have been killed in action during an encounter with terrorists in Jammu and Kashmir’s Doda district on Monday.
Read more: Jammu and Kashmir: Army officer among 4 soldiers killed in Doda encounter
The equity indices Nifty and Sensex opened Tuesday’s trading session on a positive note. The NSE Nifty 50 opened 27 points or 0.11% higher at 24,614, while the BSE Sensex advanced 77 points or 0.10% to 80,742 in the opening trade.
Read more: Stock Market Live: GIFT Nifty indicates lower opening for benchmark indices on Tuesday
The government announced a new 5% uniform Integrated Goods and Services Tax (IGST) rate applicable to all aircraft and aircraft engine parts. This initiative aims to boost the industry, particularly the domestic Maintenance, Repair, and Overhaul (MRO) sector, and is effective immediately. The move is seen as pivotal in India's efforts to establish itself as a leading global aviation hub, according to an official statement.
The IMD has issued a significant weather advisory predicting isolated instances of extremely heavy rainfall in multiple regions. Areas including Konkan & Goa, Ghat regions of Madhya Maharashtra, Gujarat, Coastal Karnataka, and South Interior Karnataka are expected to experience very heavy rainfall today. A red alert has been issued for isolated areas within these regions, highlighting the heightened risk of extreme weather conditions.
Prime Minister Narendra Modi is expected to speak at the high-level UN General Assembly session scheduled for September 26, according to a preliminary list of speakers released by the UN. The General Debate of the 79th session of the UN General Assembly will span from September 24 to September 30. The provisional list of speakers issued by the UN on Monday indicates that India's "Head of Government" is slated to address the session in the afternoon of September 26.