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The Times of India February 11,2019 Pradeep Thakur NEW DELHI: Intense questioning of recently extradited lobbyist Deepak Talwar by the Enforcement Directorate in relation to alleged payoffs of more than Rs 270 crore deposited in Bank of  Singapore by international airlines, besides Rs 88 crore received in his NGO, has put the focus on links between some top ministers and bureaucrats in the previous UPA regime and Talwar. The corporate lobbyist, known for his access in civil aviation circles, is being questioned by ED to further establish the money trail where it is suspected that Rs 90 crore was withdrawn from bank accounts of Talwar-controlled entities and distributed to politicians and officials who could have had a role in tweaking of rules to benefit certain foreign aircraft manufacturers and airlines. Talwar was deported from Dubai on January 31 and brought back on a Research and Analysis Wing (RAW) aircraft and has been since remanded to ED custody till Februa...

EcoScope February 05,2019 RBI turns dovish, cuts policy rates High probability of one more rate cut in April 1. The Reserve Bank of India (RBI) cut its policy rate by 25bp and changed its stance to ‘neutral’ from ‘calibrated tightening’. The decision to cut rates was in line with our expectation, but in contrast to consensus of a status quo. 2.  The central bank cut its 4QFY19/1HFY20 CPI inflation projections sharply by 40bp/70bp to 2.8%/3.3%. It also cut its FY19/20 GDP estimates to 7.2%/7.4% from 7.4%/7.6% earlier.  3.  The recent policy also opens up the probability of another rate cut in Apr’19. The RBI cut its 4QFY19 inflation forecast from 3.2% to 2.8%; however, our estimates suggest that inflation would be closer to ~3.2% in Jan-Mar’19. If so, the RBI would revise up its FY20 inflation projection. While this may dent the chances of a rate cut in Apr’19, if our expectations of 3QFY19 GDP growth of ~6.5% materialize, this could allow the RBI to deliver an...

Nirmal Bang Teresa John, CFA Research Analyst (Economist)   February  08, 2019 RBI Changes Stance To Neutral And Cuts Rates By 25bps The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) voted unanimously to change its stance to neutral, while four members of the MPC voted for a rate cut. Dr. Chetan Ghate and Dr. Viral V. Acharya voted to keep the policy rate unchanged. We, along with consensus, had expected a change in the stance to neutral, to be subsequently followed by rate cuts.  Lower-than-expected inflation, concerns over sluggishness in domestic growth, and slowing global growth aided the RBI’s decision for a rate cut. The central bank has revised downwards its inflation forecast for 4QFY19 to 2.8% from 2.7%-3.2% for 2HFY19 earlier. The inflation forecast for 1HFY20 has also been lowered to 3.2%-3.4% from 3.8%-4.2% earlier. Our forecasts are lower at 2.6% for 4QFY19, and 3.1% for 1HFY20.  O...

The Economics Times February 11, 2019 Pranab Dhal Samanta Why is it that US President Donald Trump speaks in admiration of Chinese President Xi Jinping even though the US has the highest trade deficit for 2017 with China — $566 billion — but taunts India for a $22-billion deficit? In his State of the Union address on February 5, Trump emphasised US efforts for a trade deal with China, said he had ‘great respect’ for Xi while earlier he had mocked Prime Minister Narendra Modi when listing India’s developmental aid in Afghanistan. But the trade deal with China still looks out of grasp as Trump’s March 1 deadline draws closer while the pressure on India grows by the day, through threats like withdrawal of trade benefits under the Generalised System of Preferences (GSP). This time, it’s said, the provocation has come from India’s decision to go ahead with its ‘toughened’ e-commerce policy, even though US companies affected by this move have found innovative ways to beat the p...

The Quint February 08, 2019 Nitish Rampal Jammu and Kashmir administration on Friday, 8 February, created a separate division for Ladakh, which was part of the Kashmir division until now. The state will now have three divisions – Jammu, Kashmir and Ladakh. Ladakh – comprising Leh and Kargil districts – will now have a separate divisional commissioner and an inspector general of police (IG) with a full administrative and revenue division at par with Kashmir and Jammu divisions, the administration’s order said, as per PTI. Why Ladakh Wants A Separate Division The move assumes significance as the Ladhaki people have for long felt ‘ignored’ owing to problems plaguing the region, including the conduct of administrative affairs and governance, slow delivery of development schemes, and redressal of public grievances. Apart from complaints about governance, residents believe that the region’s unique culture and politics is not adequately recognised as different from Kashmi...

The New York Times February 07, 2019 Gina Kolata Here was the challenge for bio engineers: Find a way to for patients to take drugs — like insulin or monoclonal antibodies used to treat cancers and other diseases — without injections. The medicines are made of molecules too big to be absorbed through the stomach or intestines; in any event, the drugs would be quickly degraded by the body’s harsh digestive system. Now, a team of scientists may have found a solution that delivers these drugs in a capsule a person can swallow. Their inspiration? A tortoise that always rights itself after rolling over. The test device, called Soma, is shaped like the tortoise’s shell. Inside is a miniature post made of insulin. After the tiny device positions itself against the stomach wall, the post pops out and injects insulin. The device then travels through the colon and eventually is eliminated by the patient. The device works in rats and pigs, the investigators reported on Th...