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The Wire: June 28, 2018 New Delhi: India voted against a UK-backed move that will allow the global chemical weapons watchdog to apportion blame for illegal attacks, criticising the decision to grant “unchecked powers” to the head of the group which could be used for “partisan” purposes. On Wednesday, more than two-thirds of the member states of the Organisation for the Prohibition of Chemical Weapons (OPCW) voted to authorise the international body to identify the perpetrators and sponsors of a chemical weapons attack. It also specifically called on the OPCW’s technical secretariat to begin work on identifying the perpetrators behind the use of chemical weapons in Syria. The draft decision, sponsored by 30 countries, was adopted at the fourth special session of the conference of the states parties to the Chemical Weapons Convention at the Hague, with 82 in favour and 24 negative votes. While Europe, the United States and their allies voted ‘yes’, there was strong oppo

Rajiv Kumar: Financial Express: June 28, 2018 One of the highlights of the While Revolution was a technological innovation in 1956 that helped Amul manufacture powder from buffalo milk. The innovation helped in converting surplus milk into powder and store it for use during summer, when production is usually low. This also enabled farmers to sell all their milk to the dairy cooperative in Gujarat, even in the winter when production usually peaks. In pre-White Revolution days, farmers often faced trouble in selling milk during the “flush” winter season. However, the dairy cooperatives’ ability to convert milk into powder helped in turning dairy farming into a sustainable income-generating activity in the following decades. In between, India’s milk production capacity took a gigantic leap. According to data of Ministry of Agriculture, Government of India, total milk production in India in the 1960s was around 17-22 million tonnes. This increased to 163.7 million tonnes in 2016-

PTI: Economic Times: June 29, 2018 Money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there.  In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 per cent to CHF 1.46 trillion or about Rs 100 lakh crore in 2017, according to the official annual data released today by Swiss National Bank (SNB), the central banking authority of the Alpine nation. The surge in Indian money held with Swiss banks comes as a surprise given India's continuing clampdown on suspected black money stashed abroad, including in banks of Switzerland that used to be known for their famed secrecy walls for years.  The Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to CHF 676 million (about Rs 4,500 crore) -- the lowest ever since the European nation began

PTI: The Hindustan Times: June 27, 2018 Fortis Healthcare on Wednesday said it has initiated legal action to recover about Rs 500 crore of funds allegedly taken out of the company by its founders Malvinder and Shivinder Singh after an external investigation found “systemic lapses and override of controls” in the loan given. The loans were given to its founders without board approval and enough collaterals, it added. The firm, which is embroiled in a takeover battle, also annulled September 2016 appointment of former executive chairman Malvinder Singh as ‘Lead: Strategic Initiatives’ and will seek to recover payments made to him in that role as well as any company asset in his possession. The Singh brothers had resigned as directors from the board of Fortis Healthcare in February this year, following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo. Malvinder Singh, who was appointed Lead Strategic Initiatives for f

The Hindustan Times, June 27, 2018 The United States will insist India and all other buyers of Iranian crude must cut imports to “zero” by November 4 when sanctions go into effect against Iran, a senior state department official said on Tuesday and warned there will be no waivers, unlike the previous round. The official said the message has been delivered already to allies in Europe and Asia and an interagency team of state and treasury department officials will be visiting India, China and other countries in the coming weeks. The official, who spoke to reporters on background, said India and China “will be subject to the same sanctions that everybody else’s is… and yes, we will certainly be requesting that their oil imports go to zero, without question.” “I would be hesitant to say zero waivers ever. I think the predisposition would be no, we’re not granting waivers,” the officials said to a question about granting waivers. Importers of Iranian crude face the risk of be

The Economic Times, Jun 27, 2018 Shares of NDTV today surged 20 per cent to hit its upper circuit limit at Rs 39 after Sebi ordered Vishvapradhan Commercial to make an open offer. Regulator Sebi yesterday ordered a little-known entity, Vishvapradhan Commercial, to make an open offer for NDTV for indirectly acquiring control of up to 52 per cent stake through a convertible loan of Rs 350 crore in 2009 'sourced' from a subsidiary of Reliance Industries. Stock of the company opened on a positive note at Rs 36, then soared further to Rs 39, up 20 per cent from its previous closing price on BSE. Similar movement was seen on NSE, where the stock opened at Rs 36.10, then gained further ground to touch Rs 38.80, up 19.94 per cent over its last close. Market analysts said the Bombay High Court order also acted as a trigger for the stock. The Bombay High Court yesterday directed the Reserve Bank of India to consider the compounding applications filed by NDTV in a

The Express Tribune, June 27, 2018 Pakistan has committed to an ambitious 26-point action plan spanning a period of 15 months to avoid being blacklisted by the Financial Action Task Force. The plan envisages choking the financing of terrorist groups like Da’ish and the Haqqani network. The FATF Plenary – the global intergovernmental body working to combat money laundering and terrorist financing, on Tuesday began discussions on the action plan, said sources in the Ministry of Finance. A formal announcement about Pakistan’s fate is expected on Friday. This is for the first time that all 26 actions have been published in detail. The plan that the International Cooperation Review Group (ICRG) of Asia Pacific Group (APG) submitted to the FATF Plenary also requires Pakistani authorities to proactively cooperate with counterpart bilateral agencies to choke financing to Da’ish, Al Qaeda, Jamaatud Dawa and its affiliate FIF, LeT, JeM, the Haqqani Network and persons aff

The Hindu Business Line,  JUNE 26, 2018 Flagging the continuing stress in the banking sector, the Reserve Bank of India on Tuesday said the gross NPAs of banks may rise from 11.6 per cent in March 2018 to 12.2 per cent by March 2019. Macro-stress tests on public sector banks under the prompt corrective action framework (PCA) suggest worsening of their GNPA ratio from 21 per cent in March 2018 to 22.3 per cent by March 2019, with six PSBs under PCA likely experiencing capital shortfall, it said. In its 17th Financial Stability Report, the RBI said the system level capital-to-risk-weighted assets ratio (CRAR) may come down from 13.5 per cent to 12.8 per cent during the period. “However, the capital augmentation plan announced by the government will go a long way in addressing potential capital shortfall, as also play a catalytic role in credit growth at healthier banks. “...Furthermore, governance reforms would not only improve the financial performance of banking sector, b

The Economic Times, Jun 27, 2018  In a veiled reference to Pakistan, India has said the problem of terrorism in Afghanistan is not a local one and attacks inside the country are launched from safe havens in its neighbourhood that has sheltered Taliban leaders and supported the "dark agendas" of terror outfits like the LeT and JeM. India's Permanent Representative to the UN Ambassador Syed Akbaruddin during a debate at the Security Council on the situation in Afghanistan said yesterday that the spring offensive from the Taliban had taken many lives despite the much-appreciated peace offer from the Afghan Government. "Such offensives are planned and launched from safe havens in the neighbourhood of Afghanistan," he said. While not naming Pakistan, Akbaruddin said those supporting the terrorists targeting Afghanistan have not been deterred. "Notwithstanding the efforts made by the international community, there are still those who provide sanctuaries to

Dailyhunt, June 28, 2018 Many others were raped, forced to serve as armed soldiers or caught in attacks on schools and hospitals, the report added. United Nations : More than 10,000 children were killed or maimed amid armed conflicts worldwide in 2017, while others were raped, forced to serve as armed soldiers or caught in attacks on schools and hospitals, a United Nations report said on Thursday. A total of more than 21,000 violations of children's right were reported in 2017 - a sharp increase from the previous year, according to the annual "Children and Armed Conflict" report. The UN blames a US-backed Arab coalition fighting in  Yemen  for at least half of the more than 1,300 child deaths or injuries recorded in that poor nation. They were victims of aerial and ground attacks by Saudi Arabia and the United Arab Emirates on Houthi rebels opposed to Yemen's internationally recognised government. Among the casualties tallied in the report were child

Dailyhunt, June 28, 2018 Visakhapatnam:  One militia member and two dalam members, including a woman of Peddabayelu Area Committee, surrendered before Superintendent of Police of Visakhapatnam Rural Rahul Dev Sharma here on Wednesday. The surrendered rebels were identified as G Yousuf alias Dasu Ram, V Nandini aka Chinni, worked as dalam members and K Anand nee Ambri Ginnelakota pocket worked as militia members.   Speaking on the occasion, Superintendent of Police Rahul Dev Sharma said that the members surrendered voluntarily. The three surrender members joined the dalam after drawing inspiration from the speeches of Maoists and reading their literature.   However, they were reportedly vexed with the ideologies and Maoists for working against the poor tribals and government. Therefore, they decided to surrender, the Superintendent of Police added. He assured to withdraw all the cases against the surrendered Maoists and militia members.   Link: https://m.dail

The Asian Age, Dailyhunt, June 28, 2018 More autonomy for Kashmir within the Constitution's parameters is still a workable idea. Kashmiris aspire for autonomy   Mohd Yousuf Tarigami In these seemingly hard times for its people, it is imperative to address the essential political question of Kashmir as their dignity and security are attached to it. The fundamental problem in Kashmir is of political nature, rooted in the political aspirations of its people who have been a victim of broken promises. There was, and continues to be, a genuine aspiration for political autonomy which is also guaranteed by the Indian Constitution. Link: https://m.dailyhunt.in/news/india/english/asian+age-epaper-asianage/age+debate+j+k+s+future+lies+with+india-newsid-91063395?ss=wsp&s=a

Hindustan Times, Sweta Goswami, June 27, 2018 For Gurpreet Singh, life was simple yet beautiful when he lived in the two-storey buildings of the erstwhile East Kidwai Nagar colony, which is now being redeveloped into high-rises. Singh recalled that the houses may have been tiny and dilapidated after being in use since the 1950s, but he loved the private green space in every block. “The best part was that those of us on the ground floor had access to a tiny green patch behind our house. We had a banana tree. Back then, colony roads were shaded with trees such as jamun, banyan, pilkhan and neem arching overhead,” he said. Today, the same location has 14-storey apartments which, due to ongoing construction, are visible between clouds of dust emanating from trucks and earth movers. The housing project will offer 4,608 units for central government employees against the 2,444 houses that previously existed here. It will also include office and commercial spaces. While the proje

Hindustan Times, Yashwant Raj, Washington June 27, 2018 The United States will insist India and all other buyers of Iranian crude must cut imports to “zero” by November 4 when sanctions go into effect against Iran, a senior state department official said on Tuesday and warned there will be no waivers, unlike the previous round. The official said the message has been delivered already to allies in Europe and Asia and an interagency team of state and treasury department officials will be visiting India, China and other countries in the coming weeks. The official, who spoke to reporters on background, said India and China “will be subject to the same sanctions that everybody else’s is… and yes, we will certainly be requesting that their oil imports go to zero, without question.” “I would be hesitant to say zero waivers ever. I think the predisposition would be no, we’re not granting waivers,” the officials said to a question about granting waivers. Importers of Iranian crude