India Russia business tie has been hugely tilted favouring defence sector traditionally. With changing times, both the countries are exploring new avenues of collaborations.

The business program of the outreach session in Mumbai provided participants with information on existing investment opportunities in the region and preferences for investors. This time Prime Minister Modi is expected to be the Guest of Honour at the Eastern Economic Forum (EEF), scheduled between 04-06 September at Vladivostok, Russia. 

Deputy Prime Minister of Russia Yury Trutnev will meet External Affairs Minister S Jaishankar today. The Russian delegation includes the heads of ministries, senior officials, as well as leading business figures in the field of mining, woodworking, pulp and paper, food and beverage industries, agriculture and transport logistics.

About 17 countries have invested in the far east of Russia. India has now started investing and as of now 3 more companies from India have expressed interest to invest in the far east besides Tata Power, KGK Diamond among others.

The Reserve Bank of India (RBI) has imposed a 1-crore penalty on private sector lender HDFC Bank for non-compliance with directions on ‘Know Your Customer/Anti-Money Laundering norms and on reporting of frauds.

“The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI,” the central bank said on Tuesday, adding that the action is based on deficiencies in regulatory compliance. The issue pertains to a reference to the RBI from customs authorities regarding submission of forged bill of entries (BoEs) by certain importers for remittance of foreign currency.

Further examination revealed violations of directions on ‘KYC/AML norms’ and on reporting of frauds, after which a notice was issued to HDFC Bank advising it to show cause as to why monetary penalty should not be imposed for non-compliance with RBI norms.

The lander and rover meant for India’s second lunar mission Chandrayaan-2  reached the ISRO’s launch pad at Sriharikota last night.

The rover called Pragyan is installed within the lander known as Vikram. They were flagged off from ISRO laboratory in Bengaluru on Monday.

Earlier, the orbiter that will house the lander and the rover reached the launch pad at the Satish Dhawan Space Center, Sriharikota on Saturday. 

Chandrayaan-2 will be launched aboard India’s most powerful booster GSLV-Mark-3 tentatively early in the morning on July 15th with the aim of making the lander to soft-land on the South Pole of the moon by September 6th. India would be the fourth country to have its probe soft-land on the moon. 

Ousted former Egyptian President Mohamed Morsy died on Monday after he fainted in court following a hearing, state television reported.

Morsy, a top figure in the Muslim Brotherhood who was the first democratically elected President in Egypt's modern history, had been in jail since he was toppled by the military in 2013 after mass protests against his rule.

State television said Morsy, who was 67, was in court for a hearing on charges of espionage emanating from suspected contacts with the Palestinian Islamist group Hamas.

Morsy was serving a 20-year prison sentence for a conviction arising from the killing of protesters during demonstrations in 2012 and a life sentence for espionage in a case related to the Gulf state of Qatar.

Facebook Inc revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments.

Facebook has linked with 28 partners in a Geneva-based entity called the Libra Association, which will govern its new digital coin set to launch in the first half of 2020, according to marketing materials and interviews with executives.

Facebook has also created a subsidiary called Calibra, which will offer digital wallets to save, send and spend Libras. Calibra will be connected to Facebook's messaging platforms Messenger and WhatsApp, which already boast more than a billion users.

The Menlo Park, California-based company has big aspirations for Libra, but consumer privacy concerns or regulatory barriers may present significant hurdles.

Facebook hopes it will not only power transactions between established consumers and businesses around the globe, but offer unbanked consumers access to financial services for the first time.

The name "Libra" was inspired by Roman weight measurements, the astrological sign for justice and the French word for freedom, said David Marcus, a former PayPal executive who heads the project for Facebook.

Global rating agency Fitch Ratings on Monday slashed India's gross domestic product (GDP) growth forecast to 6.6 per cent for the current fiscal, from 6.8 per cent projected earlier, citing persistent slowdown in manufacturing and agriculture sectors.

The rating agency, however, retained its GDP growth forecast for FY21 and FY22 at 7.1 per cent and 7 per cent, respectively.

"We see growth for FY 2019-2020 printing at 6.6 per cent, before stepping up to 7.1 per cent in FY 2020-2021 and 7.0 per cent in FY 2021-2022," Fitch said in its latest global economic outlook.

The development came amid mounting evidence of slowing economic growth with GDP growth hitting a 5-year low of 6.8 per cent in 2018-19. The lower GDP growth figures were attributed to weaker domestic consumption, slower global growth and tensions between the United States and China.

E-commerce giant Amazon India is the most attractive employer brand in the country followed by Microsoft India and Sony India, says a survey.

According to the Randstad Employer Brand Research (REBR) 2019, released Monday, Amazon scored high on financial health, utilisation of latest technologies and a strong reputation.

Microsoft India emerged as the runner-up, followed by Sony India.

Others in the top 10 most-attractive employer brands in India for 2019 include Mercedes-Benz at 4th position, IBM (5th), Larsen & Toubro (6th), Nestle (7th), Infosys (8th), Samsung (9th) and Dell (10th).

In line with the REBR philosophy, Google India had been inducted into the Hall of Fame category last year, for winning the coveted title for three consecutive years.

The Randstad Employer Brand Research, covered 75 per cent of the global economy with 32 participating countries and more than 2,00,000 respondents worldwide.

Autistic Pride Day is being observed today. Autistic pride recognises the importance of pride for autistics and understands it not as a disease but as a difference. 

Autism or Autism Spectrum Disability is a range of complex neurodevelopment disorders characterized by social impairments, communication difficulties, restrictive and repetitive pattern of behaviour. 

It is a lifelong condition which usually occurs in the first three years of life. The exact cause of autism is not known but it is known to be associated with genetic and environmental factors.

Autistic Pride Day was initiated by Aspies For Freedom, a group that raises public awareness about autism rights.

Twenty-nine journalists from print and electronic media were Sunday felicitated with Matri Shree Media Awards for their contribution towards journalism.

Apart from media personalities, a social activist has also presented the Bharat Mata shield at the 44th Matri Shree media award ceremony organized.

Working President of Punjab Kesari Delhi Swadesh Bhushan Jain and Chairman of the Committee Ashok Aggarwal, Harish Chopra, Ankush Aggarwal, Chetan Sharma, Ramesh Bajaj, Vishal Rana and Kailash Agrawal presented the shield and a pen to the winners. 

A former mayor of North Delhi Municipal Corporation Adesh Gupta was also felicitated for his contribution to social service. 

The Asian Development Bank (ADB) has approved a project worth Rs 1,650 crore to develop infrastructure in seven district headquarter towns of Tripura, a senior official has said.

The ADB will provide Rs 1,650 crore, out of which 80 per cent will be grant-in-aid and the state will have to repay 20 per cent loan in due course of time, he said.

Such an ADB-assisted ambitious infrastructure development project, first of its kind in Tripura, is expected to modernize all the district headquarter towns and boost tourism and trade prospects in the future to realise the vision of Chief Minister Biplab Kumar Deb of transforming Tripura into a model state," the official told reporters on Sunday.

Till now, there had been no provision of any funding for development of district headquarter towns in Tripura other than Agartala, he said.