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en-gb 2018-07-18T08:54:43+05:30 - The worldâs largest retailer is looking at shifting some of its key people from Gurugram to Bengaluru, where Flipkart is based. It may tap talent from its Asda unit in the UK, which was sold to rival Sainsbury in April for $10 billion, sources said.
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- The worldâs second-largest clothing firm plans to open 50 stores in India by 2020 with an investment of Rs 700 crore. H&Mâs sales in India in the six months ended May went up 19% to Rs 535 crore from Rs 450 crore a year ago
- If businesses and banks have to gain the trust of investors, auditors first have to put their house in order.
- MakeMyTrip ran a Goa Hotel sale along with offers on IndiGo, SpiceJet and Air Asia last week that promised up to 40% off on select hotels if customers booked on July 11-13.
- Tata Trusts spent about Rs 6947.68 crore on projects and grants in financial year 2017, up four times from FY2016âs Rs 1,606.2 crore.
- The German carmaker is focusing on a few service initiatives to support its customers. It is planning to launch a âservice-on wheelsâ, a custom-built Bharat-Benz 40T tractor-trailer equipped with mobile lifting platform.
- In Maharashtra, government officials said the Swabhimani Shetkari Sangthanaâs (SSS) milk-supply-stoppage call didnât affect supplies to consumers on Tuesday.
- Under a conditional merger nod given two weeks ago, the DoT demanded Rs 7,268 crore upfront payment towards dues it said the two telcos owe it.
en-gb 2018-07-18T09:05:38+05:30 Buy V-Guard Industries, target Rs 205: Kunal Bothra Buy Bata India, target Rs 860: Dr CK Narayan Buy Bank of Baroda target Rs 130: Manas Jaiswal - ET Now spoke to various experts and here's what they have to recommend for today's trade:
- FPI limits for next year have been increased by Rs 1 lakh crore for the combined set of markets.
Buy Mahindra & Mahindra Financial Services, target Rs 500: Kunal Bothra - The euro was 0.05 per cent lower at $1.1655 after losing 0.4 per cent overnight.
- Volatility in developing-nation stocks has soared during the recent sell-off, at the same time that itâs retreated for US equities.
Buy Indian Bank, target Rs 355: Kunal Bothra Buy Indian Bank at a price target of Rs 355 and a stoploss at Rs 325 from entry point. - MSCI's broadest index of Asia-Pacific shares outside Japan added 0.16 per cent.
- Brent futures were down 40 cents, or 0.6 per cent, at $71.76 a barrel by 0027 GMT.
- The company has shared the financials only for the last three fiscals.
- US gold futures for August delivery were little changed at $1,227 an ounce.
- âHere is a list of top stocks that are likely to be in focus in today's trading session
en-gb 2018-07-18T08:39:32+05:30 - Headed by financial services secy Rajiv Kumar, the committee has representation from the RBI, the ministries of home and external affairs, the ED and the CBI.
- Lateral entry in India isn't new. Economic posts have been occupied by outsiders, including Arvind Subramanian.
- Farmer protests have been a challenge. A bad monsoon will worsen farmer sentiment and alienate them from govt.
en-gb 2018-07-18T08:39:06+05:30 - <
The Latest: Rubio calls Russia 'a threat for years to come' - <
The Latest: Pompeo to testify on Trump's Putin, Kim summits - <
The Latest: Flake resolution would back US intel community - <
The Latest: Trump claims 'strength' in talks with Putin - <
The Latest: Schumer blasts Trump for backpedalling on Russia - <
The Latest: Trump says he misspoke on Russia meddling - <
The Latest: Low turnout as Roby aims to block GOP challenger - <
The Latest: McConnell praises NATO, says Russia no US friend - <
The Latest: House GOP blocks measure to condemn Trump en-gb 2018-07-18T08:51:55+05:30 The Latest: Roby thanks Trump after Ala. runoff victory The Latest: Marshall wins GOP nod for attorney general Onetime Trump critic Roby wins GOP House runoff in Alabama MILLBROOK, Ala. (AP) â" U.S. Rep. Martha Roby won Alabama's Republican runoff on Tuesday, fighting through lingering fallout from her years-old criticism of then-candidate Donald Trump in a midterm contest that hinged on loyalty to the GOP president. Onetime Trump critic Roby wins GOP Senate runoff in Alabama MILLBROOK, Ala. (AP) â" U.S. Rep. Martha Roby won Alabama's Republican runoff on Tuesday, fighting through lingering fallout from her years-old criticism of then-candidate Donald Trump in a midterm contest that hinged on loyalty to the GOP president. Onetime Trump critic Roby wins Republican runoff in Alabama MILLBROOK, Ala. (AP) â" U.S. Rep. Martha Roby won Alabama's Republican runoff on Tuesday, fighting through lingering fallout from her years-old criticism of then-candidate Donald Trump in a midterm contest that hinged on loyalty to the GOP president. The Latest: Rep. Roby wins runoff for House seat in Alabama - I said the word 'would' instead of 'wouldn't,'" Trump told reporters at the White House, more than 24 hours after his appearance with Putin. "The sentence should have been, 'I don't see any reason why it wouldn't be Russia.
Trump backs down, says he misspoke on Russia meddling WASHINGTON (AP) â" Blistered by bipartisan condemnation of his embrace of a longtime U.S. The Latest: Trump says he misspoke on Russia, US election The Latest: Polls close in Alabama primary runoff election With Trump endorsement, Roby tries to fend off GOP challenge MILLBROOK, Ala. (AP) â" Having once turned her back on Donald Trump, a Republican congresswoman from Alabama is fighting for her political career in the heart of Trump country in a Tuesday runoff election that tests anew the influence of the president in the 2018 midterm season. Tumult of Trump's Europe trip smashes presidential precedent HELSINKI (AP) â" Plenty of U.S. presidents have created commotion in their travels abroad, but none as much as President Donald Trump. The president's tumultuous trip across Europe, historians say, smashed the conventions of American leaders on the world stage. Trump backs down under fire, 'clarifies' on Russia meddling WASHINGTON (AP) â" Blistered by bipartisan condemnation of his embrace of a longtime U.S. Mueller seeks immunity for 5 witnesses in Manafort case WASHINGTON (AP) â" The special counsel in the Russia investigation is seeking immunity for five potential witnesses in the upcoming trial of President Donald Trump's former campaign chairman, Paul Manafort. en-gb 2018-07-18T08:45:27+05:30 - The top court also directed states to ensure that FIRs are registered immediately, time-bound trials within six months, interim compensation in 30 days in all such instances.
- Sources in the ministry said while the existing law â" Prohibition of Child Marriage Act, 2006 â" recognises child marriage as valid but âvoidableâ at the option of the minor involved the amendment will make all future child marriages in the country invalid from the outset.
- NDRF Commandant, PK Srivastava said, "Two male dead bodies have been recovered. Four NDRF teams and dog squad are present on the spot, chances of any victim being alive are scant. Operations will continue until all victims are rescued.
en-gb 2018-07-18T08:51:09+05:30 The Latest: Comey urges voters to support Democrats in fall - The commercial bidding process for four amphibious warships to be made in India has been stuck for over a year now after L&T and Reliance Naval & Engineering Limited (RNEL) were shortlisted by the ministry.
en-gb 2018-07-18T09:01:33+05:30 en-gb 2018-07-18T08:53:04+05:30 Govt readies plan to stop Mallyas, NiMos from taking flightGovt has set up a panel to identify measures to stop defaulting promoters from leaving country. Pay up or take on DoT? Voda, Idea are in a fixGovt says recalculation not necessary, telcos should pay up to get merger approval at the earliest. US trade war finds unlikely winner: BollywoodIndian films are a big draw due to cultural similarities. 'Dangal' raked in nearly $196 mn at the Chinese box office. Noida buildings collapse: 2 dead, several trappedNDRF Commandant, PK Srivastava said, "Two male dead bodies have been recovered. Four NDRF teams and dog squad are present on the spot, chances of any victim being alive are scant. Operations will continue until all victims are rescued. What changed your markets while you were sleeping Let's check out what all might matter to Dalal Street during the day. Market Movers: Top triggers for your day on D-Street Gold steady as dollar firms after Fed comments US gold futures for August delivery were little changed at $1,227 an ounce. Unhappy with WhatsApp reply, government may send second notice The govt is of the view that WhatsApp should be able to use similar methods to identify groups where rumours and provocative messages are causing a stir. â Donald Trump, seeking to calm political storm over Putin summit, says he misspoke "I said the word 'would' instead of 'wouldn't,'" Trump told reporters at the White House, more than 24 hours after his appearance with Putin. "The sentence should have been, 'I don't see any reason why it wouldn't be Russia. Noida buildings collapse: 2 male dead bodies recovered, several feared trapped NDRF Commandant, PK Srivastava said, "Two male dead bodies have been recovered. Four NDRF teams and dog squad are present on the spot, chances of any victim being alive are scant. Operations will continue until all victims are rescued. Pay up or take on DoT? Voda, Idea are in a fix The Department of Telecommunications (DoT) has rejected Vodafone India and Idea Cellularâs requests to recalculate their dues, saying its numbers are fine and that Indiaâs second- and third-ranked telcos should pay up to get a final seal of approval on their merger at the earliest.âThe departmentâs calculations seeking bank guarantees and cash payment from Idea Cellular and Vodafone India, respectively, are correct and have been communicated to the companies,â a senior DoT official told ET.Under a conditional merger nod given two weeks ago, the DoT demanded Rs 7,268 crore upfront payment towards dues it said the two telcos owe it. It is split between a bank guarantee of Rs 3,342 crore on account of one-time spectrum charges claimed from Idea, and cash payment of Rs 3,926 crore towards market price for non-auctioned airwaves held by Vodafone India.The two operators had then flagged some discrepancies in the figures and had requested DoT for recalculations. They were awaiting DoTâs response before taking a final call on paying up or challenging the dues. Why lateral entry should be top on Modi's mind This column has argued for decades for the lateral entry of outside experts into top administrative positions to usher in world-class expertise, independence and a different worldview.At last, the Narendra Modi government has invited applications for appointments to 10 joint secretary-level posts from âoutstanding individualsâ, including from the private sector, with expertise in the areas of revenue, financial services, economic affairs, agriculture, cooperation and farmersâ welfare, road transport and highways, shipping, environment, forests and climate change, new and renewable energy, civil aviation, and commerce. These posts will, hopefully, be reserved for lateral entry in years to come, thwarting Indian Administrative Serviceâs (IAS) attempts to sabotage outsiders.Please AdjustBut why only 10 posts for lateral entry? Why not 100, or even 500, including state administrations? India needs a worldclass administration. It does not need an administration monopolised by a handful of people who fared well in a Union Public Service Commission (UPSC) exam decades ago, and have expected automatic promotion on the basis of that exam ever since.In theory, promotions in the bureaucracy do not depend on seniority alone; merit should count too. But a bureaucrat told me smugly in my youth, âMerit is a matter of opinion, but seniority is amatter of fact.â Anybody in the private sector pressing such a viewpoint would be sacked, but this particular official almost became Cabinet secretary.Lateral entry of experts into the administration is routine in well-governed countries across the globe, including the US, Britain, Belgium, Germany, Australia and New Zealand. India is an exception.Has this exception made India better administered than the other countries? Donât make me laugh.The Indian bureaucracy may believe it is the catâs whiskers, but its actual performance has been pathetic. The public believes that the civil service is neither civil nor delivers service.Lateral entry in India is not unknown. Economic posts, in particular, have often been occupied by outsiders, including Manmohan Singh, Montek Ahluwalia, Vijay Kelkar, Bimal Jalan, Shankar Acharya, Rakesh Mohan, Arvind Virmani, Arvind Panagariya and Arvind Subramanian.Many played an absolutely key role in creating and implementing the economic reforms from 1991 onward, which have now made India the fastestgrowing economy in the world.Yet, the bureaucratic reaction to this success was so adverse that the government decided to âcadre-iseâ economic posts to ensure that members of the Indian Economic Service got to the top. Has this produced even one outcome that stands out? Alas, no.Many disgruntled bureaucrats will try to sabotage Modiâs lateral entry reform unobtrusively. One ex-bureaucrat, Sudeep Singh Dhillon, has come into the open in a recent Mint column (âLateral Entry Can Crush the Steel Frame of Indiaâ, goo.gl/9Gn5Lj). He cites global experts as saying that getting into the IAS is as difficult as getting into Harvard. This proves, he thinks, that IAS chaps are the brightest, and best qualified to rule.True, getting into the IAS proves you are very bright. But so does getting into St Stephenâs College, any IIT or IIM, or Infosys or Hindustan Unilever. But does entry into any of these institutions guarantee you seniority for life, or protection against being overtaken by lateral entrants? Of course not.Learn to GovernDhillon thinks âonly a generalist with rich experience in public administration can visualise, see through, and articulate macro perspectives. Besides, she has sufficient experience of working at the village, district and state level. She understands how policies are implemented and the shortcomings of various policies.âDoubtless, grassroots experience can be a huge advantage, especially in district-level administration. But it can also be a huge disadvantage, since minute expertise on existing local conditions can blind you to the vast universe of possibilities demonstrated across the globe.Inderjit Singh, a former World Bank economist, once described his interactions with Chinese and Indian officials.âIndians believe they already know everything.They want the World Bank to hand over money without asking questions. The Chinese, however, see the Bank as a source of global knowledge.They are acutely aware that their own experience is a limitation, and that they must learn from the rest of the world.â That sums up why the Dhillons of India have been left far behind by their Chinese counterparts.Dhillon says âlateral entries have been made in the past by previous ruling establishments. They havenât been successful experiments. The whole experience of inducting private sector âmanagersâ has been far from satisfactory when it came to âmanagingâ the public sector. To be specific, examples include Air India, Indian Airlines, Vayudoot, etc.âThis leaves one gasping with astonishment. Did public sector white elephants fare any better under IAS CEOs?The success of lateral economist entrants listed in this column speaks for itself. Homi Bhabha, M S Swaminathan, VKrishnamurthy, Sam Pitroda, Raghuram Rajan and other lateral entrants performed far better than their IAS predecessors.Arvind Subramanian said on leaving the government that India must aim to get the worldâs best to improve the administration. It must not rely on a handful that passed a UPSC exam decades ago. Ten posts for lateral entry is a good start, but must be expanded to hundreds. Bids for Bhushan Power: Post plea, NCLAT bars lenders from voting MUMBAI: The appellate bankruptcy court on Tuesday barred lenders from voting for the highest bidder for Bhushan Power, following a plea from Liberty House that a transparent process was not being followed by lenders. The National Company Law Appellate Tribunal will hear lendersâ response on the matter on Wednesday, but the stay on voting will be in force till July 20.The ruling came just before the companyâs committee of creditors was to vote for an offer made by Tata Steel for the bankruptcy steelmaker. Liberty House and JSW Steel were the other two entities that had submitted resolution plans for Bhushan Power.Lenders see the ruling as a major setback and also a U-turn taken by the tribunal, particularly because last week it had directed lenders to go ahead with the resolution process despite objections being raised by UK-based Liberty House. The âto and froâ from the adjudicating authority has disappointed several lenders who were looking at a quick resolution to recover their dues as they were seeing a sharp rise in their bad loans.Lenders were to begin voting for Bhushan Power on Tuesday and conclude it by Wednesday evening.Liberty House in a plea said it had submitted all documents and information sought by the lenders, yet its offer was not considered. The company also said it was fully compliant with Section 29(A) of the bankruptcy law â" it bars defaulters from submitting a resolution plan unless they repaid their dues. Unhappy with WhatsApp reply, government may send second notice NEW DELHI: The government is dissatisfied with WhatsAppâs response to its warning to curb the spread of âexplosive messages filled with rumoursâ, and has set up an internal group of officers to examine the possibility of sending a second notice.ET has reliably learnt that IT ministry has tasked the group to identify specific technical measures which WhatsApp can be asked to implement. For this, sources said, experts will also be consulted.The government is of the view that if WhatsApp can locate specific groups and target audiences for advertisement purposes, it should be able to use similar methods to identify groups where rumours and provocative messages are causing a stir. Also, ET has gathered that the government is in no hurry to give the go-ahead for WhatsApp Payments until it achieves satisfactory results on this front.65032287 en-gb 2018-07-18T08:49:50+05:30 en-gb 2018-07-18T08:59:33+05:30 - The govt is of the view that WhatsApp should be able to use similar methods to identify groups where rumours and provocative messages are causing a stir. â
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- Farnborough 2018: F-35 moving towards ârapid capability insertionâ, says programme chief
- Farnborough 2018: Initial UAE GlobalEye delivery likely by end of year
- Farnborough 2018: UK Wedgetail order fails to materialise at Farnborough
- US-Russian summit likely to modestly increase odds of changing sanctions policy and third-party candidate in 2020
- Acquittal of JSO members in Serbia indicative of judiciary's politicisation and corruption, likely preventing investigation of politicians
- Australia to upgrade Garden Island naval facilities
- LAND PLATFORMS
- Mali receives four Super Tucanos
- AIR PLATFORMS
- The Lockheed Martin F-35 Joint Strike Fighter programme is moving to a spiral development model as the project moves ahead, according to a programme brief given at Farnborough.
- A key focus for the programme is now “rapid capability insertion”, said Greg Ulmer, who was installed as
- C4ISR: AIR
- The United Arab Emirates (UAE), launch customer for the Saab GlobalEye multi-mission airborne early warning and control (AEW&C) platform, is likely to receive its first aircraft by the end of this year, company sources have indicated.
- At the Dubai Airshow in November 2015 the UAE initially
- Key Points
- Plans to procure a replacement for the RAF’s E-3D Sentry AWACS fleet appear to be in disarray
- A contract for the Boeing Wedgetail system had been rumoured, but this did not emerge at Farnborough
- COUNTRY RISK
- UK government ministers have yet to make a decision on the procurement of a
- The Lockheed Martin F35 Joint Strike Fighter programme is moving to a spiral development model as the project moves ahead according to a programme brief given at Farnborough
- A key focus for the programme is now 8220rapid capability insertion8221 said Greg Ulmer who was installed as
- Farnborough 2018 Initial UAE GlobalEye delivery likely by end of year
- The United Arab Emirates UAE launch customer for the Saab GlobalEye multimission airborne early warning and control AEWampC platform is likely to receive its first aircraft by the end of this year company sources have indicated
- Farnborough 2018 UK Wedgetail order fails to materialise at Farnborough
- Plans to procure a replacement for the RAF8217s E3D Sentry AWACS fleet appear to be in disarray
- A contract for the Boeing Wedgetail system had been rumoured but this did not emerge at Farnborough
- C4ISR AIR
- Headlines Archive
- USRussian summit likely to modestly increase odds of changing sanctions policy and thirdparty candidate in 2020
- documentreadyfunction
- On 25 June Haftar handed over the control of Ras Lanuf and esSider oil ports to the eastern National Oil Corporation NOC which reports to the easternbased government which is not recognised internationally In response the Tripolibased NOC declared force majeure on loadings from
- Russian military to receive Kurganets25 IFV in 2019
- Farnborough 2018 F35 moving towards ârapid capability insertionâ says programme chief
- Acquittal of JSO members in Serbia indicative of judiciarys politicisation and corruption likely preventing investigation of politicians
maukaexplorer provides Daily snippets of exclusive topics on Current Affairs for Competitive Exams and Group Discussions. Suitable for all age groups and for a variety of competitive examinations.
Wednesday, July 18, 2018
Latest News Headlines Wed Jul 18 09:13:05 IST 2018
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