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First Post  Published By: Anonymous Ujjivan Small Finance Bank's IPO attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 165.64 times. The Rs 750-crore IPO, which was open from 2-4 December, received bids for 2,053 crore shares against the total issue size of 12.39 crore shares.  The price range for the offer was fixed at Rs 36-37 per share Ujjivan Small Finance Bank's initial public offering (IPO), which attracted heavy investor demand after its launch on 2 December, status is expected to be finalized today, according to a news report. Accordingly, the investors who had applied for Ujjivan Small Finance Bank IPO will be able to check their  allotment status  through their application number, DPID/Client ID or PAN, said a report in  Mint . Subscribers of Ujjivan Small Finance Bank shares can also check the allotment status on the website of Karvy Fintech wh...

Hindustan Times Published by: Agence France Presse Arms sales rose by nearly five percent worldwide in 2018 in a market dominated by the United States, according to a new report published Monday by the Stockholm International Peace Research Institute (SIPRI). The turnover of the 100 biggest arms manufacturers came to $420 billion, thanks in large part to the US market, said the report. US manufacturers alone accounted for 59 percent of the market, or a turnover of $246 billion, up 7.2 percent on the previous year. “This is a significant increase over one year considering the already high levels of US combined arms sales,” Aude Fleurant, the director of SIPRI’s arms transfers and military expenditure programme, told AFP. US firms were benefitting from the Trump administration’s decision to modernise its armed services to reinforce its position against China and Russia. Russia was second in the rankings for arms production, with 8.6 percent of the market, just ahead o...

Hindustan Times Published By: Rezaul H Laskar India and Germany, which are working closely on multilateral issues, are both ideal candidates for permanent membership of a reformed UN Security Council (UNSC) that reflects the realities of today’s world, German ambassador Walter Lindner has said. Following German Chancellor Angela Merkel’s visit to India last month, the two countries are now focusing on implementing more than 20 existing MoUs and cooperation in key areas such as smart cities, green mobility and climate change, Lindner said in an interview. The envoy reiterated Merkel’s position that the security lockdown and communications blackout in Kashmir is “not sustainable”, saying Germany, like other members of the European Union (U), wants all restrictions to be lifted “as soon as possible”. Lindner said all countries stand to lose if the UN isn’t reformed as people won’t rely on the world body “because they will say it is not reflecting the reality”. The G4 – Brazi...

Hindustan Times Published By: Razaul H Laskar The Philippines is set to become the first country to buy the BrahMos cruise missile jointly developed by India and Russia, with New Delhi and Manila focusing on price negotiations with the aim of concluding a deal in 2020, people familiar with the discussions said. India has been in talks with several countries, including Thailand, Indonesia and Vietnam, over the past few years to sell them land and sea-based versions of the supersonic cruise missile. The people cited above said the Philippines Army had zeroed in on the BrahMos after extensive trials and everything now revolved around the cost of the system and financing for the deal. “As far as the Philippines Army is concerned, the consensus on the BrahMos system is a done deal. Now, it’s all about the price negotiations and we hope the deal will be finalised next year,” said a person familiar with the negotiations who declined to be named. The cost of the system will b...

Hindustan Times Published By: Sudhi Ranjan Sen Metal cutting, the first step in the start of commercial production, of the of indigenously made single-engine fighter plane Tejas (Mk-II) is scheduled for February 2020, according to Dr Girsh S Deodhare, director of the Aeronautical Development Agency (ADA) and head of the Tejas programme. The Mk-II will have more advanced sensors including a powerful radar, empowering the fighter for operations beyond the visual range, and improved avionics. The fighter will be able to fly with more weapons and fuel than its predecessors Mk-1 and Mk-1A. The IAF is buying 123 Mk-1 and Mk-II fighters. The Tejas Mk-II will be several tons heavier and is designed to fit into the medium weight categories of fighters. Recently the IAF told the government that it is ready to buy more indigenous fighters to replace its aging fighter fleet. The Tejas (Mk-II) are slated to replace the existing French-made Mirage -2000 and Russian -made MiG-29 ...

The Hindu Published by : Suhasini Haidar The External Affairs Ministry has refused to comment on the U.S. House resolution on Jammu and Kashmir introduced by  Indian-American lawmaker Pramila Jayapal , even as the government stepped up efforts to ensure that the resolution is not passed, with officials reaching out to Congressmen and women as well as the Indian diaspora to mobilise support. Sources said India is also hopeful that U.S. House members of the India caucus will move the process in their favour, while former diplomats said the larger fallout of the resolution was in the optics, not in its substance. “I think [the resolution] has a lot of sensation value, because while a motion on human rights in the U.S. House or Senate is not uncommon, but one tabled by a person of Indian origin is rare, and countries like Pakistan will use this for their propaganda purposes,” said former Ambassador to the U.S. Lalit Mansingh I think we have enough support on Capit...

Business Line Published By: Anonymous If the Board of Governors drafts guidelines sails through, almost 75 per cent of total medical seats in the country would be available at reasonable fees. In what could prove to be a significant relief for medical students, a panel tasked with drafting guidelines for fee structure in private medical colleges is mulling slashing fees for half of the graduate and post-graduate seats by 70 per cent and 90 per cent respectively. With the process of constitution of National Medical Commission currently on, the Union Health Ministry has asked the Board of Governors (BoG), vested with powers of the MCI, to prepare draft guidelines for the fee structure in private medical colleges and deemed universities from the next academic session. According to sources, with this reduction planned by the BoG, fees of 50 per cent of MBBS seats in private medical colleges will range between  ₹ 6 lakh to  ₹ 10 lakh.  Currently, in several states,...