Department Financial News

While many parts of India are reeling under a heatwave, it’s a matter of relief that monsoon rain prospects this year are bright. The country is expected to receive above-normal rainfall during the June-September rainy season, according to India Meteorological Department (IMD) chief Mrutyunjay Mohapatra. By IMD’s measure, rainfall will be 106% of the long-period average, with a model error of 4%.

Dhaka Tribune reported, citing State Minister for Disaster Management and Relief Md Mohibbur Rahman. Moreover, 150,457 houses were damaged during the storm. Among these, 35,483 houses were fully damaged in 107 unions and 914 municipalities of Bangladesh, according to state minister. He spoke about the damage caused by cyclonic storm Remal during the press briefing held at the Secretariat on Monday.

Amazon's computing unit AWS is in talks with Italy to invest billions of euros in the expansion of its data centre business in the country as part of the tech giant's effort to boost its cloud offer in Europe, four people familiar with the matter said. Discussions between parties over the size and the location of the investment are ongoing, according to the sources, with one of them saying Amazon Web Service (AWS) is considering expanding its current site in Milan or building a new one.

A bid to exit publicly traded markets could give Indigo Books & Music the “nimbleness” needed for the struggling retailer to execute on its comeback plans, according to some analysts.

Bill Gross, the veteran bond investor often referred to as the “Bond King,” has spoken out about the potential impact of a Donald Trump presidency on the US bond market.

Cyclone Remal made landfall on Sunday midnight between Bengal's Sagar Island and Bangladesh's Khepupara. However, the state has officially confirmed only three deaths so far. The 'Severe Cyclonic Storm Remal' has weakened into a 'Cyclonic Storm' on Monday morning, the Meteorological Department said. Sunderbans in South 24 Parganas district has been the most affected. Torrential rains have been reported in various parts of the state. Many areas have been inundated. Electric poles and trees have been uprooted and houses damaged mainly in South and North 24 Parganas districts and Kolkata, which will go to polls on June 1.

Rajkot Gaming Zone fire tragedy, the Gujarat High Court came down heavily on the civic body on Monday and said that all the municipal commissioners, right from the time the TRP game zone was set up in 2021 till the time of the incident, should be held responsible for the incident. Saying that the HC could no longer trust the state machinery which reacts only after loss of innocent lives, the division bench comprising Justices Biren Vaishnav and Devan Desai asked the municipal commissioners to file individual affidavits. The court further asked the Chief Fire Officers of Ahmedabad, Vadodara, Surat and Rajkot municipal corporations to file affidavits regarding fire safety measures within their respective areas.

RIA Novosti.The development came three years after the Taliban returned to power in war-torn Afghanistan.ALSO READ: Afghanistan floods: Fifty people lost their lives due to heavy rainsSince 2003, the Taliban group has been designated as a terrorist outfit in Russia.“Kazakhstan has recently taken the decision, which we are also going to take, to remove them from the list of terrorist organisations," RIA Novosti quoted Russian Foreign Minister Sergei Lavrov as saying on Monday.At the end of 2023, Kazakhstan had removed the Taliban from its list of banned organisations.Despite international sanctions on the Taliban, Russia has fostered its ties with the government run by the banned outfit in Afghanistan.Moscow had also held multiple rounds of talks and boosted trade with Kabul.But, Russia has not recognised Afghanistan’s Taliban government officially yet.The state news agency TASS, citing Zamir Kabulov - director of the Second Asia Department at the Russian foreign ministry, reported that Russia’s foreign and justice ministries have reported to President Putin on the issue of removing the ban on the Taliban.ALSO READ: The Taliban warn journalists and experts against cooperating with Afghanistan International TVThe latest move by Russia could further boost diplomacy between Moscow and Kabul.According to RIA Novosti, Lavrov said Russia's decision was about recognising the realities on the ground.“They are the real power. We are not indifferent to Afghanistan.

₹20,000 crore, or 23%, according to data from the rural development ministry released recently. The revised FY24 estimate for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was ₹86,000 crore, and the actual spending has come to ₹1.06 trillion. However, compared to the ₹1.01 trillion spent on rural jobs in FY23, the increase is only about ₹5,000 crore.

Actor Johnny Wactor of General Hospital was shot and killed in Los Angeles early Saturday during a suspected car robbery. He was 37.

Indian Express, citing food safety officials.The awful findings came to light after Telangana’s food safety department conducted inspections at some of the famous eateries.ALSO READ: Karachi Bakery expired products: Hyderabad store found violating regulations“Most shocking is the lack of basic hygiene in the kitchens, the use of products beyond their expiry date, and the mixing of prohibited synthetic colours in food preparations. Some of the kitchens had big garbage cans without lids," said Vijay Kumar, deputy food director at the Commissionerate of Food Safety, Telangana, as per the report.However, restaurants claim that they prepare meals in hygienic conditions.During the inspection at Shah Ghouse restaurant, the food safety officials claimed to have found semi-cooked food kept in unhygienic conditions in cold storage and stagnant water in the kitchen.ALSO READ: McDonalds, Theobroma outlets in Noida under FDA scanner after customer falls illHowever, the restaurant manager said: “No customer has ever complained of bad food at our restaurant," as per the report.The officials also claimed that they found insects in flour and tamarind at Rayalaseema Ruchulu; and from Rameshwaram Cafe, expired 100 kg urad dal and 10 kg curd were seized.“The waste bins in the kitchen were not covered.

Pune car crash: A court here on Monday remanded two doctors and an employee of Sassoon General Hospital arrested in connection with the Porsche crash in police custody till May 30. The police produced the three in the court of Judicial Magistrate First Class (Small Causes) A A Pande and sought their custody for 10 days. Earlier in the day, the police arrested Dr Ajay Taware, head of the state-run hospital's Forensic Medicine department and Dr Shrihari Halnor, the chief medical officer for alleged manipulation of blood samples and destruction of evidence in the case, an official had said. The third arrested person, Atul Ghatkamble, works under Dr Tawre.

Telecom companies will have to pay GST along with the instalments paid towards spectrum charges, a senior official said. The Department of Telecom (DoT) will hold the next round of spectrum auction on June 6 for eight spectrum bands meant for mobile phone services. The base price for the auction has been set at Rs 96,317 crore. The spectrum will be assigned for 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments in the coming mega auction. The official said Goods and Services Tax (GST) will have to be paid at 18 per cent by telecom companies along with each instalment.

Tamil Nadu government has cautioned job seekers regarding the risks associated with accepting deceptive job offers from overseas, particularly from countries in Southeast Asia like Cambodia, Thailand, Myanmar, and Laos. The Non-Resident Tamils’ Welfare Department has emphasized the importance of vigilance among the state's residents, urging them not to fall prey to fraudulent schemes promising lucrative employment opportunities abroad. Highlighting the severity of the situation, the government has underscored its commitment to taking legal action against any individuals or agencies within Tamil Nadu found to be complicit in the illicit practice of facilitating unauthorized employment abroad without proper registration with the Union government.

India Meterological Department boss Mrutyunjay Mohapatra on Monday announced that the heatwave currently affecting large swathes of North India would likely abate over the next three days. «Expect relief from heat wave in northwest India and central parts of country after three days,» Mohapatra said. The IMD chief's statements come alongside the weather office's predictions for the monsoon season. The IMD expects Central India to see above normal monsoon in 2024, with the entire country set to recieve above average rains.

Haryana government has declared the closure of all schools from tomorrow, May 28. The decision has been taken considering the scorching heat and rising temperature. As of now, Haryana's temperature is 46 degrees. Haryana school summer vacations are announced for both private and government colleges. Students and parents are advised to contact the respective school administrations for details. As per the official notice issued today, May 27, all schools will now reopen from July 1, 2024. "Haryana Directorate of School Education has announced summer vacation in all the schools (government and private) of the state from 28 May 2024 to 30 June 2024. Schools will be reopened from July 1, 2024," the official notice reads. This is to be noted that earlier Haryana Summer vacation 2024 dates were from June 1 to 30, which is now preponed to May 28 to June 30.

Rajkot Fire: The Gujarat government on Monday, May 27, suspended five officials, including two police inspectors and civic staff, for negligence related to the Rajkot game zone fire that claimed 27 lives, PTI reported.According to a government release, the officials were found responsible "for their gross negligence in allowing this game zone to operate without necessary approvals."The suspension of the five officials followed Chief Minister Bhupendra Patel's site inspection on Sunday. The Chief Minister instructed the concerned departments to take strict and punitive action against those responsible for the incident.The facility where the blaze erupted on Saturday, May 25, was operating without the required fire No Objection Certificate (NOC)."The game zone had received permissions from the roads and buildings department.

severe cyclonic storm 'Remal' makes landfall between Bangladesh and the adjoining West Bengal coast, the Indian Coast Guard said on Monday that it is closely monitoring the landfall of the cyclone with a disaster response team, ships, and hovercraft on standby at short notice to respond to post-impact challenges. The ICG further asked the people to follow official advisories, stay informed, and stay safe. «Update cyclone #Remal@IndiaCoastGuard is closely monitoring the landfall of cyclone #Remal with the disaster response team, Ships, and Hovercraft standby at short notice to respond to post-impact challenges. Follow official advisories, Stay informed, and stay safe,» the ICG posted on X.

Johnny Wactor was shot and killed when he interrupted thieves stealing the catalytic converter from his car in Los Angeles, his family said Sunday. The shooting occurred around 3 a.m. Saturday when the victim approached three men in downtown LA, according to the Los Angeles Police Department. His mother, Scarlett Wactor, told ABC 7 that her 37-year-old son had left work at a rooftop bar with a coworker when he saw someone at his car and thought it was being towed. A mask-wearing suspect opened fire, his mother said.

Adda247 recorded revenue of Rs 243.39 crore in FY24, an 88% year-on-year increase from Rs 129.65 crore in FY23. It has also reduced net loss by 66% to Rs 101 crore, down from Rs 296 crore in FY23. The firm attributed its growth to its existing verticals in government job exams and UPSC, as well as the newly introduced K13 vertical that contributed about 15 percent to the total revenue.

department of telecommunications (DoT) and mobile operators devised a system that can identify and block spoof international calls showing up as Indian numbers. Through this, the government and telcos are seeking to give relief to mobile users who have been getting such calls from cyber criminals posing as police officials, courier company workers and even DoT and Trai officials. Hoax international calls originate outside the country, but cyber criminals manipulate the calling line identity (CLI) to make such calls appear as originating within India. The DoT has directed telecom carriers to block such calls.