India becomes Asia Pacific vice-chair at World Customs Organisation
India has become the vice-chair (regional head) of the Asia Pacific region of the World Customs Organisation (WCO) for a period of two years to June, 2020, the finance ministry said today. The organisation has divided its membership into six regions. Each of the regions is represented by an elected vice-chairperson to the WCO council.
"India is a wealth of experience in promoting security and facilitation of cross border trade," it said.
To mark the assumption of vice chair, an event is being organised tomorrow here by the Central Board of Indirect Taxes and Customs (CBIC) in partnership with industry body CII.
It will witness participation of customs delegates from 33 countries of the Asia-Pacific Region, customs officers from different ports in India.
WCO represents 182 customs administrations across the globe that collectively process approximately 98 per cent of world trade.
Wimbledon 2018 Women's Final Highlights: Kerber wins maiden Wimbledon title
Angelique Kerber beats seven-time champion Serena Williams 6-3, 6-3 to win her maiden Wimbledon title. It is the third Grand Slam title of Kerber's career, adding to her Australian and U.S. Open triumphs in 2016.
Kerber made just five unforced errors compared to Williams' 24 as the German reversed the result of the 2016 final.
PM Narendra Modi to Begin UP Tour With Varanasi Today, to Lay Foundation Stone for Purvanchal Expressway
Lucknow: Prime Minister Narendra Modi will begin a two-day tour of eastern Uttar Pradesh starting Saturday, visiting his parliamentary constituency Varanasi and laying the foundation stone in Azamgarh for the 340-km Purvanchal Expressway.
The expressway will connect several important and historical towns of eastern Uttar Pradesh, including Barabanki, Amethi, Sultanpur, Faizabad, Ambedkar Nagar, Azamgarh, Mau and Ghazipur with the state capital Lucknow.
The PM will also inaugurate other development projects and address rallies in Varanasi, Azamgarh and Mirzapur during the tour, his second visit to the politically crucial state in a week. He was in Noida, on the outskirts of Delhi on Monday, launching a Samsung mobile phone factory with South Korean president Moon Jae-in.
In his parliamentary constituency Varanasi, PM Modi will dedicate projects estimated to be worth over Rs 900 crore for the development of Kashi.
Former Pakistani Prime Minister Nawaz Sharif arrested after return
The return to Pakistan of Sharif and his daughter, Maryam, on Friday comes one week after a court found them guilty of corruption-related charges and sentenced them to 10 and seven years in prison, respectively.
They first flew from London to Lahore, where authorities took them into custody and escorted them onto a small government plane, which took off for Islamabad, a source who was on the first plane told CNN on condition of anonymity.
In a video released early Friday morning by the Pakistan Muslim League Noon (PMLN) party, Sharif could be seen addressing his supporters from inside an airplane, stating that he was returning to Pakistan as a "sacrifice for the future generations of the country and for its political stability."
Telecom Commission clears new telecom policy, backs net neutrality
NEW DELHI: The government will soon amend telecom licences to incorporate rules on net neutrality, which will include a bar on blocking or slowing down of content, while allowing fast lanes only for ‘critical’ services and keeping ‘content delivery networks’ out of their ambit.
The Telecom Commission (TC), the highest decision-making body in the Department of Telecommunications (DoT), accepted the Telecom Regulatory Authority of India’s recommendations of November 2017 in total on Wednesday, underscoring India’s stance supporting an open internet. Supporters of net neutrality welcomed the move while telcos said it could stifle innovation.
The TC also cleared the new telecom policy—the National Digital CommunicationsNSE -1.46 % Policy 2018 — which aims to create jobs and draw investment of more than $100 billion to India by 2022. The new policy will be presented to Cabinet for approval in two weeks.
Mukesh Ambani Dethrones Alibaba's Jack Ma, Becomes Asia's Richest Person With Net Worth Of $44.3 Billion
Billionaire Mukesh Ambani has overtaken Alibaba Group founder Jack Ma to become Asia's richest person as he positions Reliance Industries Limited (RIL) to disrupt the e-commerce space in India.
According to a report by Bloomberg, Ambani was estimated to be worth $44.3 billion on Friday with Reliance Industries rising 1.6 per cent to a record Rs 1,099.8. Jack Ma’s wealth stood at $44 billion at the close of trade on Thursday in the US, where the company is listed.
Reliance has doubled its petrochemical capacity and is also reaping profits from its newest company Reliance Jio, adding another $4 billion to Ambani’s fortune.
India hits back at Pakistan over comments on UN report on human rights in Kashmir, says Islamabad must stop supporting terrorism
New Delhi: India on Thursday hit back at Pakistan over its comments on the alleged human rights abuse in Kashmir, saying Islamabad must first stop terrorism emanating from its soil.
The Pakistan Foreign Office on Thursday alleged human rights violations in Kashmir. It also raised concern over shifting of woman separatist leader Syeda Aasiya Andrabi to Tihar jail and detention of Hurriyat leaders Shabbir Ahmad Shah and Masarrat Alam Bhat.
Andrabi was arrested by the National Investigating Agency under the Unlawful Activities Prevention Act (UAPA) for allegedly carrying out secessionist activity and waging war against India.
"They sometimes forget that what they preach, they don't follow. Time and again we have told them to stop supporting terrorism, stop supporting terrorist entities, which are operating out of Pakistan. That is something (on which) they have taken no action. Our position on this remains clear and consistent," Ministry of External Affairs spokesperson Raveesh Kumar said in response to a question at a media briefing.
Railway launches its first consolidated bridge management system
Days after a bridge in Mumbai collapsed on a railway track, the railways yesterday launched its first consolidated Bridge Management System (IR-BMS), a web-enabled IT application to store data on its 1.5 lakh bridges. Railway Minister Piyush Goyal yesterday launched BMS for "meaningful assimilation, analysis and dissemination of information related to various activities" about its bridges, a statement from the national transporter said.
The web-based platform will show the bridge master data, works data, information regarding inspection/monitoring and maintenance of the bridges and other essentials.
Goyal at the launch, also felicitated artists whose work at seven railway stations across the country won them the top prize in the national transporter's in-house station beautification contest.
This innovative competition was organised among zonal railways in December 2017.
Retail inflation spikes to 5% in June, IIP moderates to 3.2% in May
NEW DELHI: India’s industrial growth slowed to a seven-month low in May while consumer inflation breached the central bank’s forecast for the first half of the fiscal year, marking twin setbacks for an economy that’s otherwise seen picking up pace this year. To be sure, experts see factory output recovering from here and inflation having peaked. Nevertheless, the key policy rate will likely be raised next month, they said.
Industrial production growth was 3.2% in May, down from 4.7% in the previous month, data released by the government showed.
The simultaneously released Consumer Price Index (CPI) showed a hardening in retail inflation to 5% in June from 4.87% in the previous month, on the back of buoyant oil and housing prices. This suggests the Reserve Bank of India may raise interest rates in the policy review next month even though experts feel inflation may have peaked.
“June inflation number is the likely peak we have seen in this fiscal year. Subsequent prints are expected to average below 4.5%,” said Shubhada Rao, group president and chief economist, Yes Bank.
Indian Army joins hands with SBI on the Defence Salary Package
The Indian Army on Thursday joined hands with the State bank of India (SBI) on the Defence Salary Package, which will include free personal accident death and total disability cover. “A number of additional facilities have been incorporated in the revised Memorandum of Understanding (MoU) which includes free personal accident death cover, free permanent total disability cover and other accidental benefits to the deceased soldier and family.
“This MoU will benefit a large number of serving and retired Army personnel who have their accounts with the SBI,” the Defence Ministry said in a statement. The first MoU between SBI and the Indian Army was signed in 2011 and was renewed in February 2015.
The renewed MoU will be valid till January 3, 2019.