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Sharad Pawar who heads his own faction of the Nationalist Congress Party (Sharadchandra Pawar) does not seem to be in favour of the Karnataka Congress government's move to bring in a bill that reserves jobs for locals in the private sector. Sharad Pawar on Wednesday said that the bill passed by Karnataka will not pass judicial scrutiny. This even as the Congress in Maharashtra batting for a similar such law in Maharashtra. " The Karnataka government's decision will not be upheld in the court, it will be struck down..«said Pawar when asked by journalists. Pawar also took on the freebie and sops being announced by the Maharashtra government saying that it was not fiscally prudent and would hurt the state financially. He added, » This ladki bahin yojna(where women in the state get Rs 1500 per month from the state and this ladka bhau(stipend for educated youths)… Iam worried about the (fiscal) situation of the state. There was a time when Maharashtra was in the list of first three states when it came to states having the highest per capita income. The figures by the Niti Ayog a few days back shows that we have slipped to 11 now, this is worrisome.«said Pawar.

defence ministry is set to clear a mega ₹70,000 crore order for new warships for the Indian Navy. The stealth frigates will be the most advanced ships to be built in India and are a follow-on of the Nilgiri class that are currently under construction. Sources said that state-run yards — Mazagon Dockyards Limited (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) — are the frontrunners for the order that is classified as Project 17B. The two yards are currently constructing frigates under Project 17A (Nilgiri class). MDL is making four of the frigates while GRSE is executing an order for three. While details will emerge after the defence ministry clears the project, there is a possibility that it could be split between the two yards, as was the case for Project 17A. A split order helps shorten delivery timelines for the Navy.

Indian Ocean Region, Indian Navy deployed warship INS Teg to rescue crew members onboard a Comoros-flagged cargo vessel that capsized off Oman coast three days ago. Nine crew members — eight Indians and a Sri Lankan national — were successfully saved. «One crew member was found deceased. The search-and-rescue operations continue for the remaining members of the vessel's crew,» Oman's Maritime Security Centre said in a post on X. The nationality of the deceased person is not yet known. The vessel MT Falcon Prestige had capsized on July 14 and had transmitted a distress call around 2200 hours. The merchant vessel had a crew of 16, of which 13 were Indian seafarers.

Labour Party government promised to calm the country's febrile politics and ease its cost-of-living crisis as it set out its plans for "national renewal" at the grand State Opening of Parliament on Wednesday. Stabilising public finances and spurring economic growth were at the centre of Prime Minister Keir Starmer's legislative agenda, announced in a speech written by government officials and delivered by King Charles III. «My government will seek a new partnership with both business and working people and help the country move on from the recent cost of living challenges by prioritizing wealth creation for all communities,» the king said in a speech to hundreds of lawmakers and members of the House of Lords. Charles traveled from Buckingham Palace to Parliament in a horse-drawn carriage — past a small group of anti-monarchy protesters with signs reading 'Down with the Crown' — before donning ceremonial robes and the Imperial State Crown to deliver his speech.

quarter. The company had posted a net profit of Rs 22.36 crore in the April-June period a year ago, according to a regulatory filing from Hathway Cable, a firm owned by the Reliance Industries Group. Its total revenue was flat at Rs 502.61 crore in the June quarter. It was at Rs 499.23 crore in the corresponding period a year ago.

ESAF Small Finance Bank on Wednesday said it has received the Reserve Bank of India's (RBI's) nod for re-appointment of K Paul Thomas as its Managing Director & CEO for another three years. This approval was communicated via the RBI's letter dated May 16, 2024, granted under the Banking Regulation Act, 1949, the bank said in a statement.

spectrum in the 900 Mhz band in Kolkata, telecom operator Vodafone Idea (Vi) announced expansion of a new technology in 3000 sites across the city to enhance network infrastructure. This expansion is part of Vi's broader strategy to upgrade its network infrastructure, following a successful Rs 18,000 crore Follow-on Public Offering (FPO). This upgrade aims at providing a stronger indoor coverage experience for users, with superior calling and faster data speeds, Vi said in a statement. Vi has also acquired additional spectrum in the recently concluded spectrum auction, committing Rs 31 crore for 0.4Mhz of spectrum in the 900 Mhz band in Kolkata Circle and Rs 376 crore for 7.6 Mhz of spectrum in the 900 Mhz band in West Bengal Circle.

Revanth Reddy on Wednesday said his government would waive crop loans of up to Rs one lakh on July 18 as per his government's promise. Speaking at a meeting of ruling Congress MLAs, MLCs and MPs and other leaders here, he said that as part of the state government's Rs two lakh farm loan waiver promise, money would be credited to farmers' accounts in phases, based on the loan amount. On Thursday, Rs 7,000 crore in total would be credited to the accounts of farmers whose loans of up to Rs one lakh are being waived, the CM said, adding that crop loans of up to Rs 1.5 lakh would be waived by the end of July, and the loan waiver process would be completed in August when loans of up to Rs two lakh are dispensed with. The Congress government's objective is to free every farmer from the burden of loans, Revanth Reddy said. He said his government is «not tricking ryots» in the name of loan waiver «the way the previous BRS government of K Chandrasekhar Rao did».

fire broke out at Veg Gulati restaurant on Pandara Road near India Gate here in the early hours of Wednesday, Delhi Fire Services (DFS) officials said. No was was injured in the incident, they said. The restaurant is only a few shops away from the famous Gulati restaurant.

Cooperation among Cooperatives" initiative in two districts on a pilot basis, the Gujarat government has decided to implement it across all 33 districts of the state, officials said on Wednesday. The initiative aims to enhance the cooperation among Gujarat's thousands of cooperative societies by centralising their bank accounts and deposits in various district and state cooperative banks. The initiative was envisioned by Union Cooperation Minister Amit Shah and launched on a pilot basis in Banaskantha and Panchmahal districts of Gujarat, the state government said in a statement.

Delhi-Mumbai expressway project, touted as a game-changer for Indian infrastructure, faces significant delays primarily due to land-related challenges in Gujarat. According to Times of India sources, two crucial segments totaling 62 kilometers in Gujarat only saw bidding commence in November 2023, while construction on one of these segments began in April this year, and the other started just this month. Initially slated for completion by January 2023, the project has encountered multiple setbacks, pushing the revised target to March 2024, which has also been missed. Sources reveal that constructing each stretch requires a minimum of eighteen months. To expedite progress, the project was divided into smaller 'packages' for faster execution. Officials assure that all outstanding land acquisition issues are being actively addressed. Presently, approximately 630 kilometers of the total 1,386 kilometers have been opened to traffic in various segments. Notable sections include Sohna-Dausa-Sawai Madhopur (293 km) and Jhalawar-MP/Gujarat border (245 km). Authorities express confidence that the 845-kilometer stretch from Sohna to Vadodara will be fully operational by March 2025. Subsequent sections, crucially linking to Mumbai's JNPT port, Jewar Airport in Uttar Pradesh, and Delhi's DND Flyway, are expected to follow suit.

Karnataka expressed their apprehensions about the new Bill approved by the cabinet that mandates 100 per cent reservation for Kannadigas in «C&D» grade government jobs, state Commerce and Industries Minister MB Patil said that they will have wide consultations, resolve the confusion and ensure that interests of Kannadigas are protected along with those of industries. «I have seen that many people have apprehension regarding this...We will resolve this confusion...We will sit with the CM and resolve this so that it does not have any adverse effect...,» Patil said speaking to on Wednesday. «Keeping the interests of #Kannadigas paramount, I will discuss this issue with the Hon'ble CM Sh @siddaramaiah, IT-BT Minister, Law Minister, and Labour Minister. We will have wider consultations. We will ensure that the interests of Kannadigas are protected, alongside those of the industries,» Patil said in a post on 'X'.

Karnataka have voiced objections against the Karnataka reservation proposals, calling the move «discriminatory» and expressing concerns about potential repercussions for the tech industry. In a significant move, the Karnataka cabinet has greenlit the draft State Employment of Local Candidates in Industries Factories and Other Establishments Bill, drawing swift and sharp criticism from notable figures. The bill, aimed at prioritizing local employment, has raised concerns about its potential impact on investment and the tech sector in the state. Prominent voices like Kiran Mazumdar-Shaw and TV Mohandas Pai have openly criticized the state government's decision. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Ltd, voiced her concerns, stating, «As a tech hub, we need skilled talent. While the intention is to boost local employment, we must ensure it doesn't jeopardize Karnataka's leadership in technology. There should be provisions exempting highly skilled roles from this policy.» TV Mohandas Pai, former CFO of Infosys, condemned the bill, labeling it as «discriminatory» and «regressive.» He asserted, «This bill must be scrapped. It's akin to fascism. How can the government dictate private sector hiring practices? This move is reminiscent of Orwell's Animal Farm. It's unbelievable that @INCIndia supports such a bill.»

Delhi High Court recently allowed the sale of 26 luxury cars of Sukesh Chandrasekar observing that the cars are subject to natural decay and depreciation. These cars were attached and in possession of the Directorate of Enforcement (ED) in a money laundering case linked to the Rs 200 crores extortion case. Justice Swarana Kanta Sharma in a recent judgement dismissed the petition moved by Leena Maria Paulose, wife of Sukesh challenging the order permitting the sale of the cars.

balance of payments could record a surplus of around $52 billion, or about ₹4.3 lakh crore, in the current fiscal, with foreign institutional investor inflows likely to clock $25 billion, largely due to the inclusion of local debt in a JP Morgan index, State Bank of India has said. «FII inflows, which are $3.5 billion so far this fiscal, are expected to be around $25 billion, getting support through debt inflows on account of bond inclusion ($2.3 billion so far plus another $18 billion expected),» a report by SBI's economic research department said.

Suzuki Motor said on Wednesday it plans to cut the weight of its small Alto hatchback by 15% over the next decade, aiming to reduce the vehicle's energy usage and employ those technology gains in other models. The Alto currently weighs 680 kg and the company hopes to lower that by 100 kg. «If a vehicle is heavy, we also have to make the battery and motor larger to get a long range and good performance,» Tatsuya Matsushita, an executive in charge of Suzuki's automotive technology said.

Zee Entertainment Enterprises Ltd. on Tuesday launched a Foreign Currency Convertible Bonds (FCCB) issue, with an aim to raise $239 million, it said in an exchange filing. Proceeds from the FCCBs will be drawn in tranches and these bonds will be divided into 10 series, the company said. Earlier in a filing, the company said the FCCBs would be issued to Resonance Opportunities Fund, St. John's Wood Fund Ltd. and Ebisu Global Opportunities, on terms and conditions mutually decided between the company and the 'proposed' investors.

Kate Winslet stars as American war correspondent Lee Miller in the new film 'Lee.' The trailer reveals her battle with both the dangers of war and sexism among her peers. Plot In the biopic directed by Ellen Kuras, Winslet takes on the role of Lee Miller, a real-life American war correspondent. The trailer highlights Miller's determination to document the atrocities of the Nazis despite the dangers and sexism she faces.

US interest rates in September as inflation cools. In late afternoon London deals, gold soared 1.7 percent to touch $2,463.80 per ounce, crushing its previous pinnacle of $2,450.07 reached in May.

Duqm, the nation's Maritime Security Centre said on social media website X. The Comoros-flagged Prestige Falcon had a 16-member crew — 13 from India and three from Sri Lanka — and search and rescue operations to locate missing seafarers are underway. The incident happened Monday 25 nautical miles southeast of Ras Madrakah.

The rupee closed at 83.58 against the US dollar on Tuesday, versus the previous close of 83.59, LSEG data showed.