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India Today Dated: September 01, 2020 The Director General of World Health Organisation (WHO) Tedros Adhanom has said that WHO fully supports the efforts to reopen economies and societies but opening up without any control is a recipe for disaster. In a statement on August 31, the WHO Director General said, "We want to see children returning to school and people returning to the workplace, but we want to see it done safely. At the same time, no country can just pretend that the pandemic is over. The reality is that this coronavirus spreads easily, it can be fatal to people of all ages and most people remain susceptible. If countries are serious about opening up, they must be serious about suppressing transmission and saving lives." WHO has acknowledged the fact that global challenges on the fiscal front is causing the world to walk extra miles in preparation before reopening activities and bring back the economy to normal. Director General Tedros said, "Eig...

Hindustan Times  Dated: August 31, 2020 Lebanon’s prime minister-designate Mustapha Adib called on Monday for the formation of a new government in record time and urged immediate reforms as a step towards securing an agreement with the International Monetary Fund. He spoke after being designated premier and hours before the arrival of French President Emmanuel Macron, whose pressure on Lebanon’s fractious leaders was crucial to forging an agreement on Adib, Beirut’s ambassador to Berlin. “The opportunity for our country is small and the mission I have accepted is based on all the political forces acknowledging that,” Adib said after being designated by President Michel Aoun. Donor states wants Lebanon to carry out long-delayed reforms to stamp out state corruption and waste in order to release financial support. The previous government launched talks with the IMF in May but these stalled amid divisions on the Lebanese side over the scale of losses in the financial sys...

Hindustan Times Dated: September 01, 2020 The ministry of home affairs has asked all the states and union territories to formulate standard operating procedures (SOPs) for combating crimes against weaker sections of the society, including women, children and scheduled castes/scheduled tribes, and to prevent their victimisation. In a detailed communication, reviewed by HT, the states/UTs have been asked to evolve a coordination mechanism among various departments in their jurisdiction to strengthen the law enforcement response when it comes to vulnerable sections and sensitise officers at all levels. Issued with the approval of home minister Amit Shah, the MHA letter suggests some steps which states may take while forming the SOPs, such as setting up a response mechanism to promptly deal with incidents of crime against vulnerable, oppressed and deprived sections of society; identifying crime prone areas and then monitoring them constantly. The MHA has recommended that an a...

Hindustan Times  Dated: September 01, 2020 India and China need to manage and control their differences and not allow them to  become conflicts , Chinese foreign minister Wang Yi has told a foreign audience, adding that Beijing is committed to maintaining stability along the  disputed Sino-India border . China is also willing to resolve differences with New Delhi through dialogue, Wang said, adding, at the same time, that India is to blame for the tension at the border. The problems between the two countries should be placed in “appropriate places” in bilateral ties, the Chinese foreign minister further said. Wang was speaking at the prestigious French Institute of International Relations in Paris on Monday, hours after the Indian army and the People’s Liberation Army (PLA) had accused each other of triggering a new bout of tension at the south bank of Pangong Tso and the Reqin pass near the Line of Actual Control (LAC) in eastern Ladakh. India said on...

Hindustan Times  Dated: September 01, 2020 India’s GDP contracted by 23.9% in the April-June quarter this year compared to the same period last year, suggesting that the lockdown hit the economy hard. To be sure, the GDP numbers released on Monday are only the first estimates and they could be revised further downwards. This is because the informal sector numbers will only become available at a later stage, Pranab Sen, India’s former chief statistician, said. CEA Krishnamurthy Subramanian, ministry of finance, attributed the performance to an exogenous shock (the pandemic) that has been felt globally, and said India has already started a V-shaped recovery after the lockdown was eased. The slowdown before the pandemic The Indian economy was in one of its worst ever deceleration phases even before the pandemic. GDP growth declined continuously for eight quarters except an 8 basis point blip between December 2018 and March 2019. It was 8.2% in March 2018 and fell to 3.1% in ...

Firstpost Dated: September 01, 2020 A treason investigation was opened in late July after the defence ministry alerted the Paris prosecutor's office to suspect activity  Paris:   A senior French army officer based abroad has been arrested and handed preliminary treason charges for sharing highly sensitive intelligence with a foreign power, authorities said Sunday. Europe-1 radio  reported that the lieutenant colonel is accused of passing “ultra-sensitive” information to Russian secret services. It reported that the officer served on a NATO base in Italy, and was arrested while on vacation in France. French authorities would not confirm which foreign power the senior officer is suspected of spying for. Defence minister Florence Parly said the officer is under investigation for “serious security breaches.” Speaking on  Europe-1  on Sunday, Parly said the French military has taken “necessary protective measures” as a result. A treason investiga...

The Economic Times Dated: September 01, 2020 The infrastructure sector shrank for the fifth straight month in July, though the rate of decline slowed as further easing of restrictions lifted economic activity, data released on Monday showed. The index of eight core infrastructure sectors dropped to 9.6% in July from a year ago compared to a 12.9% contraction in June, suggesting industrial production may contract again in July. “Its cumulative growth during April to July, 2020-21 was -20.5%,” commerce and industry ministry said in a release. It had declined 22% in May and 37.9% in April. “Core sector growth for July has followed a predictable pattern which was witnessed since May. The growth rate remains negative but is an improvement over the previous month,” said Madan Sabnavis, chief economist, CARE Ratings. India’s factory output contacted for fourth month in a row in June at 16.6%. CARE Ratings expects 12-14% decline in industrial production in July. Fert...

Live MInt Dated August 31, 2020 The GDP data for the June quarter of FY21 to be released today evening would reveal the extent of damage the coronavirus pandemic has caused to the Indian economy. While India’s economy had been slowing down well before the pandemic hit it, Asia’s third largest economy is expected to fall into a recession in FY21 for the first time in 40 years. Here is a look at five things you should look for in the upcoming GDP data: Headline GDP print While there is consensus that GDP is set to contract in June quarter, there is wide variation among forecasters on the extent of contraction Indian economy went through due to the strictest lockdown in the world. While Nomura projects GDP to contract 15.2%, Barclays has estimated the economy to slump 25.5% during the first three months of the current financial year. 2. Manufacturing slump Manufacturing sector is expected to have been the worst hit during the first three months of the financial ye...

Hindustan Times Dated August 30, 2020 The Union Ministry of Finance has advised all the banks not to collect any charges on transactions or payments made through electronic mode, the Central Board of Direct Taxes (CBDT) said in a statement on Sunday. According to the CBDT, some representations were made that some banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions were allowed free by these banks beyond which every transaction bears a charge, the CBDT noted. “This is in violation of the Circular no 32/2019 dated December 30, 20219, which was issued by CBDT to clarify that based on section 10A of (Payment and Settlement System (PSS) Act, any charge including MDR (Merchant Discount Rate) shall not be applicable on or after January 1, 2020 on payments made through electronic modes,” the release said. Hence, it said that the Ministry has advised the banks to immediately refund the charges collected, if any, on ...

Hindustan times Dated; august 31, 2020 China on Monday said its troops “strictly’’ abide by the Line of Actual Control (LAC) with India, refuting the Indian army’s statement that said the Chinese armed forces had carried out  provocative military actions  on the southern banks of the Pangong Tso. Responding to a question on the Indian army statement, the Chinese foreign ministry said the troops of the People’s Liberation Army (PLA) never cross the line. “Chinese border troops always strictly abide by the LAC. They never cross the line. Border troops on the two sides have been in close communication regarding the issues on the ground,” ministry spokesperson, Zhao Lijian said. Asked about any ongoing meetings to resolve this new development, he said: “What I said is that the two sides through diplomatic and military channels maintain close communication. As to specific meetings and talks, if there is anything, we will release it in a timely manner”. Earlier in the...

Hindustan Times Dated: August 31, 2020 In a strong message to China, the Philippines have made it clear that it would turn to the US for military help during ongoing flare-ups between Manila and Beijing in the South China Sea. Philippines Foreign Secretary Teodoro Locsin Jr said Manila would invoke its defence agreement with the US if China attacks its naval vessels in the disputed waters. “If something happens that is beyond incursion but is, in fact, an attack on say a Filipino naval vessel.....means then I call up Washington DC,” he added. Since 1951, the US and the Philippines have had a Mutual Defence Treaty that commits them to support each other in the event if either is attacked. The comments by the Philippines Foreign Secretary marks the first time President Rodrigo Duterte administration openly declaring its intention to side with the US against Chinese expansionist agenda. The Foreign Secretary said Manila would continue air patrols over the South China Sea des...

Hindustan times Dated: September 01, 2020 Asserting that Beijing has been picking up fights right now virtually on every front of its interest, a top American diplomat on Monday said the United States’ strategy to counter it is to push back against China in every domain. “Our strategy is to push back against China in virtually every domain. We’re doing it in the security area. We’re doing it in terms of outsized demands to claim sovereign territory, whether it’s in the Galwan Valley of India on the India-Chinese border, or in the South Pacific,” Deputy Secretary of State Stephen Biegun said during third India US Leadership Summit. The summit was organised by US India Strategic and Partnership Forum (USISPF). The Trump Administration is also doing it economically, he said. “The president has led the charge against the predatory practices from the Chinese economy and the Phase One trade deal is just a first step in that (direction), to be followed by many others in the yea...

The Economic times Dated: September 01, 2020   Vodafone  Idea Ltd (VIL) has decided to cash out by selling its 11.15 per cent stake in Indus Towers for roughly Rs 4,000 crore even as Bharti Infratel decided to go ahead with the closure of its mega towers merger with Indus. Bharti Infratel said the likely ownership structure of the merged towers entity is based on “cash consideration chosen by VIL for its 11.15 per cent shareholding in Indus -- based on an agreed formula – and on today’s calculation, the cash consideration comes to approximately Rs 4,000 crore”. “The board of directors in its meeting on August 31 took note of the status of scheme of arrangement between Indus Towers and Bharti Infratel and related agreements…after deliberations, the board has decided to authorise the chairman to proceed with the scheme and to comply with other procedural requirements for completion of the merger, including approaching  the National Company Law Tribunal ...

The Print Dated September 01, 2020 नई दिल्ली:  अडाणी समूह मुंबई हवाईअड्डे में जीवीके समूह की हिस्सेदारी का अधिग्रहण करेगा. अरबपति उद्योगपति गौतम अडाणी की अगुवाई वाले समूह ने सोमवार को कहा कि इस अधिग्रहण के बाद मुंबई हवाईअड्डे में उसकी कुल हिस्सेदारी बढ़कर 74 प्रतिशत हो जाएगी. इसके साथ ही समूह देश का का सबसे बड़ा निजी हवाईअड्डा परिचालक हो जाएगा. शेयर बाजारों को भेजी सूचना में कहा गया है कि अडाणी समूह की प्रमुख होल्डिंग कंपनी अडाणी एयरपोर्ट होल्डिंग्स लि. (एएएचएल) ने मुंबई अंतरराष्ट्रीय हवाईअड्डा लि. (मायल) में जीवीके एयरपोर्ट डेवलपर्स लि. (एडीएल) के ऋण के अधिग्रहण के लिए करार किया है. इस ऋण को इक्विटी में बदला जाएगा. इससे अडाणी समूह के पास मायल में जीवीके समूह की पूरी 50.5 प्रतिशत हिस्सेदारी आ जाएगी. इसके अलावा अडाणी समूह मायल में अल्पांश शेयरधारकों एयरपोर्ट्स कंपनी ऑफ साउथ अफ्रीका (एसीएसए) तथा बिडवेस्ट की 23.5 प्रतिशत हिस्सेदारी का अधिग्रहण भी करेगा. अडाणी समूह ने कहा कि वह मायल में एसीएसए तथा बिडवेस्ट की 23.5 प्रतिशत हिस्सेदारी के अधिग्रहण के लिए भी कदम उठाएगा. इ...