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judge who convicted sharif recuses from hearing pending cases against him

a pakistani anti-corruption court judge who had sentenced nawaz sharif to 10 years in jail in a graft case, has recused himself from hearing two other corruption cases against the former prime minister. justice muhammad bashir of the islamabad accountability court, in a letter addressed to islamabad high court (ihc) chief justice anwar khan kasi, said that the al-azizia steel mills and the flagship corruption cases should be transferred to some other judge, according to the ihc sources. in the letter, the judge said that he had no objection if the cases were transferred as he could not hear these cases, they said. the move came on the heels of filing of separate appeals by sharif, 68, his daughter maryam, 44, and son-in-l...




rolls-royce unveils hybrid electric flying taxi that may take off by 2020

british engine maker rolls-royce revealed plans this week to develop a hybrid electric vehicle, dubbed the "flying taxi", which takes off and lands vertically and could be airborne within five years.  the london-listed aerospace giant, which is based in derby in central england, showed off the plans at the farnborough airshow for the first time, as other players also rush into the market segment. rolls said it hoped to manufacture a prototype version of its electric vertical take-off and landing (evtol) vehicle within the next 18 months, and could potentially take to the skies in the early 2020s.  the rolls-royce evtol plane will seat four or five people, with a flying range of 500 miles (805 kilometres) and a top sp...




how modi government's proposed amendments could destroy the rti act

the narendra modi government's proposed amendments to the right to information act have confirmed the worst fears of opposition parties and activists. the modi government has set out to erode the autonomy of the central and state information commissioners. the right to information (amendment) bill, 2018, circulated among the members of parliament, seeks to remove the statutory safeguards in place to ensure the independence of information commissioners at the centre and in the states. currently, the salaries and tenures of information commissioners, both at the centre and in the states, are statutorily protected and at par with those of the chief election commissioner and election commissioners at the centre, and also the electio...




federal bank rebounds from 52-week low post q1 results; stock up 13%

federal bank has moved higher by 13% to rs 83.90 on the bse in noon deal after the private sector lender said its assets quality in june quarter (q1fy19) remain stable as compared to march quarter. the stock rebounds 14% from its 52-week low of rs 73.60, touched on the bse in early morning trade, before the announcement of q1 results. gross non-performing assets (npa) ratio in q1fy19 quarter remained unchanged at 3% over the previous quarter. net npa ratio increased 3 bps at 1.72% from 1.69% in march quarter. as on june 2018 quarter, gross npa and net npa stood at 2.42% and 1.39%, respectively.federal bank reported a 25% year on year growth in net profit at rs 2.63 billion on a healthy ris...




bsp-cong tie-up on track in mp; mayawati removes rahul-baiting party leader

developments of the past 48 hours indicate the congress-bahujan samaj party (bsp) alliance for the madhya pradesh assembly polls is on track. on sunday, bsp chief mayawati met congress leader kamal nath in new delhi, according to the congress madhya pradesh spokesperson, manak agarwal. the congress-bsp seat-sharing arrangement was still being worked out, but it had been decided in principle, sources said. on tuesday, mayawati removed bsp’s national coordinator jai prakash singh from all party posts. singh had on monday said mayawati, and not congress president rahul gandhi, deserved to be the prime minister. he had insinuated that the congress chief was a foreigner since he looked more like his mother sonia gandhi than fathe...




agusta case: india fails to produce evidence against michel in uae court

in a setback to efforts to extradite british national christian michel james -- one of the alleged middlemen in the rs 3,600 crore agustawestland vvip chopper deal case -- indian authorities failed to produce any evidence before the uae courts within the stipulated time, according to the lawyer of the accused. the indian government was supposed to produce evidence in the united arab emirates (uae) court by may 19, 2018 against michel. "but the government did not present any evidence," michel's lawyer, rosemary patrizi dos anjos, told ians over phone from milan in italy. she said the government "does not have any evidence against" him and therefore its officials were unable to produce any, adding that there was "no evidence ...




lok sabha elections 2019: left set to field kanhaiya kumar from begusarai

a rashtriya janata dal (rjd)-congress-left front alliance is in the works in bihar. according to sources, the left, comprising six parties, is likely to get as many as three of the 40 lok sabha seats in that state to contest. communist party of india (marxist-leninist) chief dipankar bhattacharya has held meetings with rjd chief lalu prasad, while the state leadership of the communist party of india (cpi) is also in contact with prasad. communist party of india (marxist) chief sitaram yechury met lalu prasad when the latter was admitted to a hospital in mumbai. the two agreed that the left front should get adequate number of seats to contest in the lok sabha pol...




psu banks gain on government capital infusion report

shares of public sector undertaking (psu) banks were in focus with nifty psu bank index gaining nearly 2% on media report that six banks, including pnb, may get capital infusion of rs 80 billion. union bank of india, bank of baroda, oriental bank of commerce, bank of india, allahabad bank, canara bank, punjab national bank (pnb), andhra bank and syndicate bank were up in the range of 4% to 6% on the national stock exchange (nse). state bank of india (sbi) and idbi bank were up 1% each. at 01:13 pm; nifty psu bank index, the largest gainer among sectoral indices, was up 1.8% as compared to 0.28% rise in the nifty 50 ...




paradip port's outer harbour project at bay on sliding coal demand

paradip port trust (ppt), the second largest major port by cargo volumes after kandla, has decided to keep in abeyance its 'outer harbour' project. apart from the project cost of rs 87.67 billion, an additional investment of rs 35 billion was needed to firm up railway connectivity to the proposed harbour. the project was conceptualized to ship thermal coal primarily to the southern states. but, as demand for thermal coal narrows, ppt has scaled back the plan and is instead focusing on maximizing the capacity of its inner harbour. “keeping in view the uncertain demand of thermal coal, our dpr (detailed project report) consultant has suggested to optimize berthing facilities in the inner harbour to improve port capacities. to stave of...




soon, traffic police to accept digital version of all vehicle documents

in a bid to make it compulsory for the state transport authorities and traffic police officers to accept the digital version of all vehicle documents including driving licence, registration certificates and pollution certificates, the central government is set to amend the motor vehicles rules, reports the times of india. the move comes after reports of some of the state transport authorities and traffic police officers not accepting the digital versions of vehicle documents. the official faqs of digilocker, which is the central government's cloud-based system for digital documents, says that being a partner of ministry of road transport and highways digilocker is integrated with the national register (national database of ...




nclat stays voting by bhushan power & steel lenders on finalising bids

the nclat today stayed the meeting of committee of creditors (coc) of bhushan power and steel ltd to vote on finalisation of bids of the debt-ridden firm. the national company law appellate tribunal (nclat) also pulled up the resolution professional (rp) of the company, mahendra kumar khandelwal, for not following its previous orders to allow the representatives of operational creditors to attend the meeting. the appellate tribunal also said that it would consider whether contempt of court proceedings should be initiated against the rp in the next hearing. a two-member bench headed by chairman justice s j mukhopadhaya directed him to be present in the next hearing. the coc should not proceed with the meeting at present. i...




jute industry opposes move to auction bags on govt e-market place portal

the jute industry has launched a murmur of protest against the textiles ministry’s proposal to initiate procurement of jute bags through competitive bids on the government e-market place (gem) portal. the textiles ministry has been toying with the idea after a recent meeting of stakeholders where the possibility to source jute bags through auctions was discussed. the idea was initially floated by the union commerce ministry. though the plan to put jute bags to auctions is still at an incipient stage, the industry is sulking. voicing its reservations, the jute industry said procurement of jute bags through competitive auctions is fraught with uncertainties which would work to the detriment of the industry. previous attempts t...




trump goes soft on poll meddling; putin says mueller probe a political game

to outrage in washington, president donald trump has lent weight to russian denials of meddling in us elections at his inaugural summit with vladimir putin, where the pair championed a fresh start in relations between the world's leading nuclear powers. the us and russian presidents came out of their meeting in helsinki expressing a desire to talk again on global challenges, after discussing an array of issues from syria, ukraine and china to trade tariffs and the size of their nuclear arsenals. there were indications of an arrangement to work together and with israel to support a ceasefire in southern syria, suggesting that the us administration is backing off its demand that moscow's ally bashar al-assad step down. if th...




lakshadweep's new islands to be thrown open - only for 'high-end' tourists

planning to spend a long weekend with family and friends in one of the newly opened lakshadweep islands? be prepared to shell out a little more than you thought. if things go as planned, the centre will develop 12 new lakshadweep islands under its island development programme but limit their access to ‘high-end’ serious adventure and fun tourists – those who won’t mind spending more than rs 15,000 for a one-night stay in some of the world’s most exotic and unexplored places. the number of tourists visiting these newly opened spaces will also be planned and closely monitored to ensure the highly fragile ecology of these coral islands does not get harmed. the visits will only be on a prior booking basis, and there will...




ind vs eng 3rd odi: virat & co will aim for 10th consecutive odi series win

in the third one day international (odi) of the 3-match series, virat kohli-led india will look to plug their loopholes in the field when they take on eoin morgan’s england at the headingley cricket ground in leeds on tuesday. if india win today’s match, it will be the team's 10th successive odi series victory.the 3-match series evenly poisedengland levelled the three-match series with a convincing 86-run victory at lord's, after being comprehensively beaten in the opening match at trent bridge.the areas india need to improve in the 3rd odiafter the first odi victory, india made a couple of mistakes in the second match. first, the bowlers leaked a few extra runs, which helped england post a challenging total. and then the batsmen fail...




auto sector preview: high fuel prices to potentially impact growth

auto sales in india have been on the fast lane since the implementation of goods and services tax (gst) in july 2017, thanks to an increase in consumer spending coupled with exciting launches by the industry and a buoyant rural economy. automobile sales volumes have grown steadily in the last three quarters, albeit on a lower base. however, renewed interest by buyers and original equipment manufacturers (oems) has led to hefty expectations on dalal street with nifty auto index being one of the top performing indices of fy18. in comparison to the financial year 2018-19 (fy18), fy19 has got off to a steady start with q1 automobile sales showing a 15 per cent year-on-year (yoy) growth, even if on a low base (anticipation of gst), and q...




yes bank hits new high; rallies 15% in 9-days on sebi nod to launch mf biz

shares of yes bank hit a new high of rs 386 per share, rising 2% on the bse, and moving higher for the ninth straight trading session after the bank said that it has received approval from capital markets regulator sebi to start mutual fund business. the stock surpassed its previous high of rs 385 recorded on july 12, 2018 in intra-day trade. “this approval is subsequent to the reserve bank of india’s (rbi) approval granted to yes bank to sponsor a mutual fund followed by sebi’s in-principle approval received subsequently,” the bank said in a statement on july 4, 2018. in past nine trading sessions, yes bank has rallied 15% as compared to 2% rise in the s&p bse sensex. meanwhile, motilal oswal securities expect yes ba...




hindustan unilever slips 3% post q1 results on profit booking

shares of hindustan unilever (hul) have slipped 3% to rs 1,701 per share on the bse on tuesday due to profit booking after the fast moving consumer goods (fmcg) company reported strong numbers for june 2018 quarter (q1fy19), broadly in-line with analyst estimates. the stock has fallen 4.4% from its all-time high of rs 1,780 recorded in early morning trade on bse today. the s&p bse sensex was trading 0.17% higher at 36,384 points at 10:09 am. in calendar year 2018, hul had outperformed the market by surging 28% as compared to 7% rise in the benchmark index till monday. in past one year, it had rallied 54% against 13.4% gain in the sensex.hul q1fy19 performance was in line with expectations though the growth in domestic consumer s...




us challenges 5 wto members including china for retaliatory trade tariffs

the us on monday launched a dispute at the world trade organisation (wto) challenging five wto member countries for applying trade tariffs in retaliation for us president trump's recent actions on the aluminium and steel trade. according to a us department of commerce statement, the us has launched separate disputes at the wto against china, the european union, canada, mexico and turkey, challenging the alleged "illegal" tariffs each of these wto members imposed in response to president trump's actions on trade in aluminum and steel in order to protect us "national security" interests, efe reported. "the actions taken by the president are wholly legitimate and fully justified as a matter of us law and international trade rul...




flipkart big shopping days sale: top offers on budget, flagship smartphones

the almost bezel-less xiaomi smartphone gets a flat discount of rs 10,000, along with rs 3,000 additional exchange value that brings down the effective cost from rs 37,999 to rs 24,999. flipkart is also offering an optional buyback policy...