National Financial News

NEW DELHI : Foreign Secretary Vinay Mohan Kwatra on Monday downplayed the possibility of Brics countries developing a common currency. Briefing the media, Kwatra said deliberations among Brazil, Russia, India, China and South Africa have been focused on boosting trade in national currencies instead of on developing a common currency.

Manipur on Monday reimposed an indefinite blockade on two vital National Highways in the state . They accuse the rival community for disrupting supplies of essential communities in tribal dominated areas. The Committee on Tribal Unity (COTU) spearheading the indefinite blockade on the Imphal-Dimapur (NH-2) and Imphal-Jiribam (NH-37) National Highway in Kangpokpi district demanding uninterrupted and adequate supplies of essential commodities to Kuki-Zo community inhabited hill areas of the state. The COTU General Secretary Lamminlun Singsit said that we have earlier given an ultimatum that they would blockade both NH-2 and NH-37 from August 21 if the uninterrupted and adequate supplies of food grains, essential commodities and live saving drugs to the tribal areas are not ensured. The NH-2, the surface lifeline of Manipur was blocked for nearly two months after the ethnic violence broke out in Manipur on May 3.

National Food Security cardholders in Delhi — representing some of the most marginalised segments of society — will now have access to free sugar after Chief Minister Arvind Kejriwal approved on Monday a Cabinet decision in this regard. The Delhi Cabinet endorsed the proposal for free sugar distribution among families facing economic hardships in July.

Still haven’t seen “Barbie” or “Oppenheimer”

Manipur on Monday reimposed an indefinite blockade on two national highways in Kangpokpi district, demanding adequate supplies of essential commodities to Kuki-Zo communities in hill areas of the state. Committee on Tribal Unity (COTU) Sadar Hills Kangpokpi began the blockade on NH 2 which connects Imphal with Nagaland's Dimapur and NH 37 which links Imphal with Assam's Silchar.

WeWork India, the leading workplace provider, has leased 54,000 sq ft office space in New Delhi, its 50th workspace in the country. The new building also marks WeWork India’s foray into New Delhi. The newly opened property offers workspaces tailored to changing business needs, with 700 desks.

Kashmir Lieutenant Governor Manoj Sinha on Sunday said that the administration would not hesitate in taking appropriate legal action against those who are indulged in terror activities as the Constitution also allows the same. Talking to the reporters, Sinha said that the Constitution of the country allows authorities to go tough against those who posed a threat to national integrity by supporting terrorism and its ecosystem, and «enjoyed government jobs as well through illegal means».

These changes will make National Highways Authority of India (NHAI) and National Highways & Infrastructure Development Corp Ltd (NHIDCL) operate more like Public Sector Undertakings (PSUs) that do not have frequent transfers of officers from parent ministries. It is also expected to eliminate the culture of having a senior bureaucrat at the top, allowing cadre officers to climb to the highest rung of the organizational ladder. «A sense of ownership needs to be developed within NHAI and NHIDCL officers,» a top government official told ET, adding that plans are underway to alter the composition of these central agencies.

Steel Authority of India (SAIL), Granules India Ltd, Chambal Fertilizers and Chemicals, Gujarat Narmada Valley Fertilizers And Chemicals Limited, Delta Corp, Hindustan Copper, India Cements, Indiabulls Housing Finance, Punjab National Bank, Manappuram Finance, and Zee Entertainment Enterprises Ltd are the 11 stocks that are a part of the F&O ban list by the stock exchange for Monday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

BRICS and use of national currency are among key agendas of the discussion in the 15th BRICS Summit beginning here from Tuesday, India's BRICS Sherpa Dammu Ravi told in an interview. The 1989-batch Indian Foreign Service, who is currently serving as Secretary (Economic Relations) in the Ministry of External Affairs, said, «There are many issues that will be discussed in the Summit, including next expansion of Brics on the agenda and use of national currency for trading and economic activity amongst the BRICS member countries.» «As far as the agenda is concerned, there are many issues that are being discussed and also reported mostly the next expansion item on the agenda.

The proposed national e-commerce policy is in the final stages and no new draft policy will be issued now for seeking the views of stakeholders, a senior government official said. The new e-commerce policy is being formulated by the commerce ministry. On 2 August, the Department for Promotion of Industry and Internal Trade (DPIIT) held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy.

As of Saturday morning, Hurricane Hilary was situated approximately 240 miles southwest of the southern tip of Baja California. The National Hurricane Center has categorized Hilary as a «large and powerful» storm, characterized by maximum sustained winds clocking in at 130 mph, as per a report in USA Today. Early on Saturday, the National Weather Service in San Diego noted that Hilary had accelerated and deviated slightly eastward in its trajectory. Consequently, the period with the most pronounced impacts from the hurricane is projected to span from Sunday morning until evening. In light of these conditions, the National Weather Service is advising residents to take precautions such as securing valuable items in and around their homes and refraining from driving on roads that are submerged due to flooding.

Ranil Wickremesinghe on Saturday highlighted the need for a comprehensive review of Sri Lanka's national security strategy to chart a course devoid of entanglement in the emerging international rivalries and maintain neutrality in the Indian Ocean region. The review will include a broad range of factors, emerging economic trends and the impacts of climate change, Wickremesinghe said, addressing a Naval gathering in the southern district of Galle. The President has already appointed a team led by a retired Major General to report to the National Security Council for formulating contemporary security policies.

BOI) has issued a look out circular (LoC) against a Hungarian national and head of a crypto-ponzi firm who is allegedly involved in deceiving investors of their money, the EOW said on Saturday. The firm, STA Token is accused of operating a ponzi business and collecting around Rs 1,000 crore deposits from two lakh people across the country without any authorisation from the Reserve Bank of India, it said. The LoC was issued at the request of Odisha's Economic Offence Wing (EOW), which has been probing the alleged scandal, it said.

Chamoli district in Uttarakhand, parts of the Karnaprayag-Gwaldam National Highway got washed away by the Pindar River, which is in spate, officials said on Saturday. Commuters on the route have been left stranded route.

National Cooperative Policy is almost ready, and a 47-member committee is in the process of submitting the draft to the central government, chairman of the panel and former Union minister Suresh Prabhu said. Union Home and Cooperation Minister Amit Shah had last year announced that a dedicated policy will soon be prepared to strengthen the cooperative movement in the country, and that Prabhu will head the national-level committee. The panel members include experts and representatives of the cooperative sector and officials of central ministries.

ESGI Financial President and CIO Ed Siddell discusses the nation's consumer debt predicament and analyzes the gold trade on 'Varney & Co.'

₹800 crore at Malkapur in Buldhana district, Maharashtra. The inauguration of the four-lane project will boost the progress and prosperity of the people of Buldhana, the ministry of road transport & highways said.

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