Department Financial News

Kutch district have asked people living in huts and makeshift houses to take shelter in schools, temples or other buildings after the IMD said that a deep depression over the area might turn into a cyclonic storm by Friday morning. Following the warning by the India Meteorological Department (IMD), Kutch Collector Amit Arora issued a video message asking people living in Abdasa, Mandvi and Lakhpat talukas to leave their huts and kutcha houses and take shelter in any school or other buildings. He also urged locals to come forward and provide shelter to such poor people in their houses till Friday evening. In a statement on Thursday night, IMD said, «Deep depression over Kutch and adjoining areas is likely to move nearly westwards into northeast Arabian sea and intensify into a cyclonic storm during next 12 hours. It would then move west-northwestwards away from Indian coast during subsequent two days.»

Sunita Williams and Barry Wilmore, their space trip has to the International Space Station (ISS) has extended to eight months due to technical issues with Boeing's Starliner spacecraft. The astronauts are now set to return to Earth in February 2025 aboard a SpaceX Crew Dragon. Amid the long and extended space voyage, it has not only become challenging for the space travellers but also their families back at earth may be worried about them.

₹4.26 trillion over the last two financial years and rolled out 5G networks in record speed require some return on capital. “In 21 months, 5G has been rolled out, 450,000 base stations have been set up. Telcos have spent close to ₹4.26 trillion in the last two fiscals.

Records show that a Boar's Head deli meat plant in Virginia tied to a deadly food poisoning outbreak repeatedly violated federal regulations

Ministry of Communications has said that any order for temporary suspension of telecom services should clearly state the reasons and define the geographical area where it will be implemented and the duration should not exceed 15 days. Under the draft rules for temporary suspension of telecommunications services under the Telecommunications Act 2023 notified late Thursday, the order will only address the specific reason for which it has been issued. Additionally, a copy of the suspension order should be forwarded to the concerned review committee within a period of 24 hours from the issuance of such order.

heavy rains and strong winds this week, raising the risk of floods and threatening the crops that are just weeks away from harvesting. Saurashtra and Kachchh regions of the western state of Gujarat will receive heavy precipitation for three days through Saturday, according to the India Meteorological Department. A deep depression in the coastal parts may intensify into a cyclone on Friday, causing the wind speed to surge to as high as 85 kilometers (53 miles) per hour, it said in a bulletin Thursday. Any severe damage to cotton plants could put pressure on the South Asian nation to increase overseas purchases, potentially underpinning global prices of cotton that have slumped almost 15% this year. A likely drop in production of peanuts could tighten supplies of the commodity in the country that imports about 60% of its vegetable oil needs.

FIR against artist Jaydeep Apte in connection with the collapse of a Chhatrapati Shivaji Maharaj statue, on Thursday recorded statements of his wife and son, an official said. Apte resided in Kalyan town of Thane district with his family members, but they vacated their residence due to safety concerns following the collapse of the statue installed at Rajkot Fort in Malvan taluka of Sindhudurg district, around 480km from Mumbai, on August 26.

Department of Telecom has dropped the penalty clause on telecom entities for violation of interception norms under the new rules notified recently. The Telecommunications (Procedures and Safeguards for Lawful Interception of Messages) Rules, 2024, notified on Wednesday, will not be applicable to demonstrations and testing of interception systems by the central government. Under the new interception rules, the DoT has removed provisions related to fines and suspension of telecom licences for violation of licence conditions pertaining to maintenance of secrecy, confidentiality of information and unauthorised interception of communications. The new rules, however, mandate telecom entities involved in the process of interception to ensure that «adequate and effective internal safeguards are implemented to prevent any unauthorised interception of messages» and «confidentiality and secrecy is maintained in the matter of interception of messages».

The number of Americans filing for unemployment benefits fell slightly last week as the U.S. labor market remains healthy in the face of high interest rates

Indian tourist who was swallowed by a sinkhole in Malaysia's capital entered a seventh day on Thursday, with the operation hampered by strong undercurrent flows and worries about oil instability after a second sinkhole emerged nearby. Vijaya Lakshmi Gali, 48, was walking along a road in the Dang Wangi area in Kuala Lumpur on August 23 when the pavement beneath her suddenly collapsed. She plunged into the 8-metre-deep (26-foot-deep) sinkhole and disappeared. Rescuers have found no trace of her so far except her slippers. The search operation has involved flushing through portions of the drain system, using high-pressure water jets and excavators to remove debris, tracker dogs as well as remote cameras and ground penetrating radars to map inaccessible areas. Nor Hisham Mohammad, deputy director of the Malaysian Fire and Rescue Department, said the search will continue. He said scuba divers may be sent into the sewage tunnel to check on an obstacle that was detected if conditions are safe. Two divers entered early Thursday but it was too dangerous and they were pulled out before they could reach the obstacle.

In a post on X, CM Patel said that the PM guided him on matters including restoring public life quickly. «As it has been raining heavily for the last three days across Gujarat, Prime Minister Narendra Modi ji once again had a telephonic conversation with me this morning to get information about the situation. He learned about the relief measures for the affected people of various districts of the state. Expressing concern over the flooding of the Vishwamitri river in Vadodara, he sought details of the relief and assistance being provided to the affected people,» he said.

Google an illegal monopoly in a landmark ruling this month, it was not immediately clear what consequences the world's largest search engine provider would face. But one result is coming into focus: Google's antitrust defeat opened the door to more lawsuits. On Wednesday, Yelp, the popular online service that lets people find and review local businesses, sued Google in federal court in San Francisco. Yelp claims that Google used its dominance as a general, or all-purpose, search engine to gain an unfair advantage in local search services. Yelp is seeking unspecified monetary damages and an order for Google to stop its anticompetitive practices in a jury trial.

wolf involved in attacks that killed at least eight people, including seven children and a woman, in Uttar Pradesh's Bahraich district has been captured. The wolf, part of a pack of six, has been taken to a zoo following a successful operation by forest officials.

New Delhi: The Bharatiya Antariksha Station (BAS), India’s own space station currently at its final approval and engineering stages, is now a top priority for the Department of Space (DoS), according to two senior officials. With a launch date of 2028 and operational target of 2035 set by the government, the space station can give India global leverage as the International Space Station seems set to be decommissioned by the end of 2030.

Executives with military shipbuilder Austal say settling an accounting fraud investigation is the best outcome for the company and that new financial controls have been put in place

The Supreme Court is keeping on hold the latest multibillion-dollar student debt relief plan from the Biden administration, while multiple lawsuits make their way through lower courts

The Treasury Department has issued new regulations aimed at making it harder for criminals to launder money by paying cash for residential real estate

A review by Pennsylvania’s elected financial watchdog says there are shortcomings in a state agency’s oversight of fees paid to pharmacy benefit managers in the Medicaid program

The Treasury Department has finalized new regulations extending anti-money-laundering measures to certain investment advisers, though it’s made concessions on some requirements after pushback from the industry.

Himachal Pradesh has been experiencing heavy rainfall over the past 24 hours, which has caused significant disruption in the hill resort town of Shimla. The downpour has resulted in several trees being uprooted, due to which the Information and Public Relations Office at Chhota Shimla sustained partial damage because of a tree falling over it. According to the local weather centre in Shimla, the region has recorded 41 mm of rainfall during this period.

A friend from an NGO urged me to name the NGOs that were high on fakeness. Many others expressed similar sentiments after reading my last two columns on how funders have made the world of NGOs more fake and flaky. All put most of the onus of these trends on funders, not on the NGOs—big or small—that are pushed along the dimensions of fakeness and flakiness by individual funders and the dangerous momentum in this sector.