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News highlights of the day: Shooting at Maryland high school, injuries reported

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

March 20, 2018 / 10:20 pm IST

22:19 That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

22:13 Mark Zuckerberg summoned over data breach scandal

Facebook chief Mark Zuckerberg was summoned before a UK parliamentary committee on Tuesday amid a growing row over data breaches linked to the popular social media company.

The summons letter to 33-year-old Zuckerberg was sent by Damian Collins, the chair of the House of Commons Digital, Culture, Media and Sport Committee (DCMS), which is investigating the issue of fake news. "It is now time to hear from a senior Facebook executive with the sufficient authority to give an accurate account of this catastrophic failure of process," the letter states.

"Given your commitment at the start of the new year to 'fixing' Facebook, I hope that this representative will be you," it adds. (PTI)

21:12 Reforms unlikely till next general elections: Raghuram Rajan

Former RBI Governor Raghuram Rajan on Tuesday said reforms are likely to be put on the shelf till the next general elections but expressed hope that the country will move up to a "higher plane of growth" thereafter.

Rajan also raised concerns about employment generation, saying India's 7.5 percent growth will not be able to create good jobs for the 12 million people coming into the labour market every year. The next general elections are scheduled in early 2019.

"I think to some extent, reforms will be put on the shelf till the next election. But post-election, if we can accelerate this pace of reform, there's no reason why in two or three years we couldn't move up to a higher plane of growth," he said in an interview to CNBC. (PTI)

21:04 Can a person refuse to follow law on secular matters? asks SC

The Supreme Court on Tuesday took note of the submission that a person cannot be asked to part with personal information under Aadhaar scheme on the ground of freedom of right to religion, and asked can a person refuse to follow the law in secular matters such as filing of income tax returns.

A five-judge Constitution bench headed by Chief Justice Dipak Misra, which is hearing a clutch of pleas challenging the constitutional validity of Aadhaar and its enabling Act, was told that a boy was denied admission in school after his father denied giving biometric details for Aadhaar on the ground that their religion does not permit it.

"In secular matters, can you say that I will not opt for it. For example, can a person refuse to opt for the Income Tax saying that his conscience does not allow it," the bench, also comprising justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan, said. (PTI)

20:34 Law panel issues fresh appeal seeking views on common code

In a fresh appeal, the Law Commission sought people's views on the issue of common civil code but said triple talaq is no longer a subject for consideration as a bill to criminalise the practice is pending in Parliament. The commission said that it has received an overwhelming response from the people and it is appropriate to elicit detailed submissions on the issue from the stakeholders again.

The submissions can be in the form of working papers or consultation and can touch any issue related to the uniform civil code, except (instant) triple talaq, it said. Suggestions from government and non-government bodies and the other stakeholders can be submitted till April 6.

A uniform civil code will mean a set of common personal laws for all citizens. Personal law, among other issues, covers marriage and divorce. (PTI)

20:07 Shooting at Maryland high school, injuries reported

A shooting took place at a high school in the eastern US state of Maryland on Tuesday, officials said, reportedly leaving several people injured just days before a nationwide student-organised march against school violence.

Three people were shot in the incident at Great Mills High School, located about a 90-minute drive southeast of the US capital Washington, according to a county official quoted by The Baltimore Sun. St Mary's County Public Schools said on its website that the school was on lockdown and the incident had been "contained" but provided no further details. Law enforcement was on the scene.

"It happened really quickly, right after school started" after 8:00 am (local time), Jonathan Freese, a student at the school, told CNN. (PTI)

19:44 Ram Rajya Rath Yatra enters Tamil Nadu, protests erupt

A VHP-backed yatra aimed at mobilising support for a Ram temple in Ayodhya entered Tamil Nadu on Tuesday amidst opposition by DMK, pro-Tamil and some
Muslim outfits which claimed it would disturb communal amity. Showering petals, hundreds of devotees and cadres of Hindu outfits welcomed the "Ram Rajya Rath Yatra" as it entered Shencottah in Tirunelveli District from neighbouring Kerala.

Some activists, including those from the Manithaneya Makkal Katchi (MMK), threatened to block the yatra, which left Ayodhya on Feb 13 and traversed through six states. Police said they arrested over 300 people, including Thirumavalavan of VCK and Jawahirullah of MMK, for violating ban orders and proceeding to block the yatra. (PTI)

19:33 Illaiyaraja, Ghulam Mustafa Khan, 41 others given Padma awards
Noted music composer Illaiyaraja, Hindustani classical singer Ghulam Mustafa Khan, Hindutva thinker P Parameswaran, Kerala Bishop Philipose Mar Chrysostom and 39 other prominent personalities were conferred the prestigious Padma awards for 2018 by President Ram Nath Kovind in New Delhi on Tuesday.

Vice-President M Venkaiah Naidu, Prime Minister Narendra Modi and his ministerial colleagues, and several other dignitaries attended the function at the Rashtrapati Bhavan.

Keeping its promise of honouring "unsung heroes", the government this year honoured with Padma awards several personalities who served the poor, set up free schools and popularised tribal arts globally. (PTI)

19:21 Court grants bail to JNU professor Johri in sexual harassment case

JNU professor Atul Johri, who was arrested for sexual harassment of several women students, was granted bail by a Delhi court on Tuesday. Duty magistrate Ritu Singh granted bail to Johri and directed him to furnish a bail bond of Rs 30,000 for each of the eight FIRs registered against him. Johri had moved a bail plea saying sending him to jail would spoil his career. Students, professors and women rights organisations have been protesting demanding his arrest, after some students accused him of sexual harassment. (PTI)

19:08 Modi speaks to Xi Jinping over phone: Congratulates on his re-election

Xi Jinping and Narendra Modi held a telephonic conversation on Tuesday, during which the Indian Prime Minister congratulated the Chinese President on his re-election for another five-years. The telephonic talk between Modi and Xi came a day after Modi congratulated Xi on Chinese social media.

Modi said that Xi's re-election shows that he enjoys the support of the whole Chinese nation, state-run Xinhua news agency said in a report.

"Dear President Xi Jinping, congratulations on getting re-elected as the President of the People's Republic of China," Modi had said in his message posted in his account on the Chinese social media platform Weibo. "I look forward to working with you for further development of our bilateral relations," he had said.
Last week, Xi was unanimously elected by the 2970 deputies of rubber-stamp Parliament, the National People's Congress (NPC). (PTI)

18:40 SC rejects PIL as CBI begins probe in SSC paper leak case
The Supreme Court today dismissed a PIL seeking a CBI probe into the Staff Selection Commission (SSC) paper leakage case after the Centre informed it that the probe agency has already started investigating it.

The paper of an examination of the SSC, a government body which conducts examinations to recruit staff at multiple levels in various ministries and departments, was allegedly leaked, leading to protests from job seekers.

"It has been stated on behalf of respondent, Central Bureau of Investigation that CBI has registered Preliminary Enquiry on March 8, 2018 against unknown officers/officials of SSC, Government of India and other unknown persons for misconduct.

"From the aforesaid, it is clear that CBI is undertaking the investigation and will conclude the same in accordance with law. Therefore, no order on this petition is required at this stage. The writ petition is accordingly dismissed," a bench comprising Justices R K Agrawal and A M Sapre said.

The top court on March 12 had sought a response from the Centre on the plea without issuing any notice.

The petition, filed by advocate M L Sharma, had sought an investigation into the allegations of leakage of questions of the Combined Graduate Level (Tier-II)  Examination 2018 held from February 17 to 21.

Amid the protests over alleged paper leak, the SSC had recently recommended a CBI probe into it. Job aspirants have been protesting since February 27, seeking a CBI investigation into the alleged paper leak.

18:20 Rupee slips 3 paise to 4-month low of 65.20 vs US dollar ahead of Fed meet
The rupee slipped by 3 paise to finish at a four-month low of 65.20 against the US currency today on some dollar buying by importers and banks ahead of the US Federal Reserve's key policy meet.

The home currency opened at 65.2150 and touched a low of 65.2450, before ending at 65.20, down 0.05 percent from Monday's close of 65.17.

Meanwhile, the 30-share BSE Sensex rebounded by 73.64 points or 0.22 percent at 32,996.76.

The greenback's gains against major global currencies ahead of the US Federal Reserve's key policy meet that kicks off later in the day, in which it is expected to hike interest rates, weighed on the domestic unit, dealers said.

The rupee started on a negative note at the Interbank Foreign Exchange (forex) market and remained under pressure for the better part of the session on a firm dollar overseas.

It finally settled at 65.20, revealing a loss of 3 paise, or 0.05 percent. The rupee had closed at this level on November 16 last year.

Yesterday, the rupee had tumbled 23 paise to close at 65.17 against the dollar due to concerns over a widening current account deficit.



18:08Govt not keen on ending Parliament impasse, says opposition
A group of opposition parties today said the government was not keen on ensuring smooth functioning of Parliament and had not made any efforts to end the ongoing impasse, with the Congress alleging a "conspiracy" behind it aimed at avoiding discussion on crucial issues including bank scams.

Leaders of 10 opposition parties met in the chamber of Leader of Opposition in Rajya Sabha Ghulam Nabi Azad today and discussed the matter.

They alleged that the government was not interested in running Parliament and wanted to "bypass" legislative scrutiny.

Today is the 12th day in a row that Parliament has not functioned and the current stalemate has entered the third week.

Azad said while opposition parties wanted various issues of national importance to be discussed in Parliament, the government showed no inclination of reaching out to the opposition to resolve the current impasse.

The opposition leaders said that they wanted to discuss the issues of bank scams, grant of special status to Andhra Pradesh and the Cauvery water sharing, but it seemed that the government was not ready for a debate on these issues.

Leaders of a total of 10 opposition parties were present during the meeting in Azad's chamber today. These included the Congress, the TMC, BSP, SP, NCP, DMK, CPI, CPI-M and JMM.

"The entire opposition holds that the government is responsible for the impasse and for not taking any interest in the functioning of Parliament. So, they are running away from the issues. The government is running away from debate.


17:33 Exam centres involved in paper leaks to be blacklisted: TawdeExamination centres found guilty of leaking papers would be blacklisted and permanently barred from conducting exams, Maharashtra Education minister Vinod
Tawde told the Legislative Council today.

He was replying on frequent incidents of SSC and HSC examination paper leaks. The matter was raised by the Congress' Sanjay Dutt.

"The government has taken serious note of such leaks and tough deterrent action will be taken against those involved. Guilty examination centres will be blacklisted and permanently barred from the examination centre lists," Tawde said.

Speaking about the leak of the Class X History and Political Science exam paper yesterday in Kalyan, Dutt said evidence was emerging that the leak might have occurred due to a coaching class teacher in Ulhasnagar.

Demanding an inquiry, Dutt said that it indicated a racket in which school board employees might be involved."It indicates a racket in which board employees may be involved as this is not an isolated incident but one in a series of leaks. It began with the Chemistry paper on February 28, English paper on March 8 followed by Science paper on March 16," Dutt said.

17:08 Essar Oil picks Trafigura, BP for $1bn oil-backed loan
Essar Oil has picked Trafigura and BP to lend it $1 billion to be repaid with cargoes of refined products as the Indian refiner’s new owners seek to diversify the firm’s financing base, sources told Reuters. Russian oil major Rosneft, fund UCP and Swiss commodities trader Trafigura bought Essar Oil’s large refinery, 3,500 fuel stations and infrastructure for $12.9 billion last year.


16:54 Lieutenant Governor accepts resignation of Advisor to CM Kejriwal
Delhi Lieutenant Governor Anil Baijal has accepted the resignation of V K Jain as the Advisor to Chief Minister Arvind Kejriwal.

Earlier this month, Jain had resigned from the post citing personal reasons and family commitment, days after he was questioned by the city police in connection with the alleged assault on Chief Secretary Anshu Prakash at Kejriwal's residence.

"The Lieutenant Governor is pleased to accept the resignation dated March 12, 2018 tendered by V K Jain, IAS (rtd) from the post of Advisor-cum-Consultant in the office of Chief Minister, Delhi," an order of the services department, issued yesterday, said.

Sources said that Jain has decided to join the legal profession as an advocate.

He was appointed to the post in September last year, soon after he had retired as the CEO of the Delhi Urban Shelter Improvement Board (DUSIB). The board is chaired by Kejriwal.

Prakash was allegedly assaulted by AAP MLAs during a meeting at the chief minister's residence close to midnight on February 19.

Delhi Police had told a court that during interrogation, Jain had disclosed that AAP MLAs Prakash Jarwal and Amanatullah Khan had allegedly surrounded the chief secretary and assaulted him.

16:43 Mahindra Bolero makes it to PV top 10 list in Feb

Mahindra & Mahindra's utility vehicle Bolero has made it to the top ten best-selling passenger vehicles (PV) list, which continues to be dominated by Maruti Suzuki India that bagged six out of the ten slots in February.

This is the first time in two years that Bolero has made it to the top ten list. The model sold 8,001 units last month to occupy the tenth position.

In February last year, Bolero clocked 6,442 units, according to the data by Society of Indian Automobile Manufacturers (SIAM). During the same month in 2016, Bolero was the ninth best selling PV model.

As per SIAM figures, Maruti Suzuki India's (MSI) entry level model Alto held on to its number one position selling 19,760 units in February this year as against 19,524 units in the same month last year.

The company's compact sedan Dzire occupied the second position with 17,784 units as against 16,613 units last year. The new Swift was in number three position with sales of 17,291 units. The model was in fifth position in February last year with sales of 12,862 units.

16:27 Govt scraps export duty on sugar
The Centre has scrapped export duty on sugar, providing respite to mill owners in a record-breaking production year, a government notification said. This season, nearly 290 lakh tonne of sugar has been produced. India’s annual consumption is about 255 lakh tonne. Together with the leftover 40 lakh tonne, the total unused stock of sugar is likely to be around 75 lakh tonne.

16:17 Sensex rises 74 pts in volatile trade ahead of US Fed meet
Reversing a five-session slide, benchmark Sensex rose 74 points to end at 32,996.76 in choppy trade as participants accumulated recently beaten down IT, telecom and auto stocks amid foreign capital inflows. Markets benefited from value buying in beaten-down stocks and a mixed trend overseas, as investors focused on new Federal Reserve Chairman Jerome Powell's first policy meeting starting later in the day amid trade war concerns, brokers said. The market shrugged of its early losses, with IT and telecom stocks leading the recovery.

The Sensex bounced back to regain the 33,000-level and touched a high of 33,102.74 as TCSWipro and Infosys saw heavy buying. The benchmark finally settled at 32,996.76, showing a gain of 73.64 points, or 0.22%. The index had lost 994.82 points in the previous five sessions on worries over widening current account deficit and possible US Fed rate hike. The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35, showing a gain of 30.10 points, or 0.3%. Intra-day, it hit a low of 10,049.10.

15:57 PNB woes spur Goldman Sachs to downgrade India's FY19 GDP forecasts to 7.6%
Investment bank Goldman Sachs downgraded its forecasts for India’s economy to 7.6% from 8% in the wake of a more than $2 billion fraud at Punjab National Bank, warning it could spark tighter regulation of the banking sector that would constrain credit growth, reports Reuters. It has lowered its real gross domestic product (GDP) forecast on India for FY19 to 7.6% from 8% earlier.

15:49 Pakistani rupee weakens sharply in likely devaluation by central bank
Pakistan’s rupee weakened sharply against the dollar in what appeared to be a currency devaluation by the central bank, traders told Reuters, the second such intervention in the last three months. The rupee plunged to about 115.5 per dollar in early trading from 110.5 at Monday's close, traders said.

15:42 CBI moves Delhi HC against acquittal of Raja, Kanimozhi in 2G case
The Central Bureau of Investigation moved the Delhi High Court challenging a special court order acquitting former telecom minister A Raja, DMK MP Kanimozhi and others in the 2G spectrum allocation case, reports PTI. The court allowed it to be listed for hearing on Wednesday.


15:32 Videocon exits insurance biz; sells stake to DP Jindal GrpEnamVideocon Industries has sold its entire stake in insurance business joint venture with US-based Liberty Mutual Insurance Group to DP Jindal Group and Enam Securities. Videocon held 51.32% stake in Liberty Videocon General Insurance Company. In a regulatory filing, Videocon said it sold 26% of its stake to DP Jindal Group's Diamond Dealtrade and remaining 25.32% stake to Enam Securities Pvt.


15:24 I had been saying all 39 others were dead: Lone survivor Harjit MasihHarjit Masih, the lone survivor who had managed to flee from ISIS captivity in Iraq in June 2014 following his abduction along with 39 other Indians there, said he had been maintaining for the last three years that all others had been killed, reports PTIMasih said they were killed in front of my eyes and I had been saying all these years, wondering why the government was not accepting what he had said earlier.

15:22 Ruckus forces adjournment of both houses of Parliament
Ruckus created by parties from Andhra Pradesh and Tamil Nadu today paralysed proceedings in Parliament for the 12th straight day, even as External Affairs Minister Sushma Swaraj informed both the Houses of the death of 39 missing Indians in Iraq.

15:19 French ex-president Sarkozy held in Libya financing probe
Former French president Nicolas Sarkozy was taken into police custody on Tuesday for questioning over suspected Libyan financing of his 2007 election campaign, a source close to the inquiry told AFP. Sarkozy, 63, had until now refused to respond to a summons for questioning in the case, which drew heightened scrutiny last November when a businessman admitted delivering three cash-stuffed suitcases from the Libyan leader as contributions towards the French leader's first presidential bid.

Excl: New labelling norms pushes for larger fonts on generic names
In a bid to promote low-cost generic medicines, the government has made it mandatory for pharmaceutical firms to carry the generic names of drugs on labels with font sizes twice larger than the brand name. The rule will come in force from September 13, reports Moneycontrol News' Viswanath Pilla.


14:53 Biocon sees approvals unlocking $1bn biosimilar sales, explores part stake sale in SyngeneBiocon, the only Indian drugmaker to win approval to sell copies of a biologic drug in the US, expects its business in that nascent sector will generate $1 billion in revenue by 2025 as it clears further regulatory hurdles this year, Managing Director Kiran Mazumdar-Shaw told Bloomberg. The company is also exploring part sale of its stake in its contract research arm, Syngene International, to fund its growing ambitions in the biologics business, she said. The stake is worth about $1.2 billion.

14:45 Sasikala granted 15-day parole to attend husband's funeral
Jailed AIADMK leader VK Sasikala was granted parole for 15 days by prison authorities to attend the funeral of her husband M Natarajan who passed away earlier today. Sasikala is scheduled to leave for Thanjavur in Tamil Nadu where her husband's last rites would be performed.

"A 15-day parole has been granted (to Sasikala) with a slew of conditions," Jail Superintendent of Parappana Agrahara Central Jail Somashekhar told PTI. She is not allowed to hold public meetings or attend any political events during the period and would have to remain within her jurisdiction, which is Thanjavur, and "serve only the purpose for which parole has been granted," he said.

Excl: Bankers seek more clarity, time from RBI for resolution of NPAs under old framework
As bankers struggle in the transition of bad loan resolution, from the old to the new Reserve Bank of India's (RBI) rule, they have sought more time and clarity from the central bank on the assets that are already under restructuring, reports Moneycontrol News’ Beena Parmar. The banks are also seeking a consensus on various resolutions underway.

Exclusive: IRDAI to move SC on SAT order against its official
The insurance regulator is likely to contest an unprecedented appellate order seeking the ouster of one its members in a corruption case, sources told Moneycontrol News’ M Saraswathy. The decision comes following a recent order by the Securities Appellate Tribunal seeking removal of PJ Joseph, member, non-life, IRDAI, who had passed an order pertaining to the UK-based insurance brokerage, Atkins Special Risks.

14:22 IAF Hawk aircraft meets with an accident in West Bengal, pilot safe
An Indian Air Force Hawk aircraft has met with an accident after taking off from an airbase in Kalaikunda in West Bengal, sources told PTI. The pilot has ejected safely.

14:18 Private retailers garner close to 10% of domestic fuel sales
Private refiners are chipping away at the dominance of state-run companies in domestic fuel sales. Private fuel retailers including Reliance Industries had an 8.2% share of diesel sales in India, while their share of gasoline sales increased to 6.8% in the financial year ending March 31, oil minister Dharmendra Pradhan said in Parliament on Monday. State-run retailers remained the dominant players, controlling more than 90% of sales for both fuels. (Bloomberg)

13:56 Market turns volatile; Nifty around 10,100
The market continues to remain volatile, with the Nifty trading over the 10,100-mark. All sectoral indices are trading flat. However, the Nifty IT index is up over 2%. The Nifty Bank and Nifty Energy are trading a quarter of a percent lower. Auto and infra stocks are seeing some gains as well. Among gainers, Tata Steel, Wipro and Bharti Infratel have gained the most, while Bharti Airtel, Yes Bank, Vedanta and IOC have lost the most.

13:23 India's external vulnerability indicators remain stretched, says UBS
India remains vulnerable in its external position, but this does not pose any concern about the country's macro stability and is quite manageable, says a report by UBS.

13:20 HC asks DGCA to file affidavit on airworthiness of A320 Neos
The Delhi High Court directed the Directorate General of Civil Aviation (DGCA) to file an affidavit as required under the Aircraft Rules on the safety and airworthiness of the A320 Neo planes flying in India, reports PTI. The A bench said the affidavit would be signed by an officer not below the rank of joint director of the DGCA and listed the matter for further hearing on April 6.

13:17 Piyush Goyal urges protesting students to apply for ongoing railway recruitment drive
Railway Minister Piyush Goyal said the agitation by students seeking permanent jobs in the railways was called off at 10.35 am and appealed them to apply for the ongoing recruitment drive that ends on March 31, reports PTI. With scores of agitating students bringing the rail service in the metropolis to a halt early this morning, the minister said all applicants should get a ‘fair and equal opportunity’ to serve the country.

13:10 Informal WTO ministerial meeting begins; 52 nations participating
Delegates from as many as 52 countries, including the US and China, are participating in the informal meeting of the WTO being held in New Delhi amid increasing protectionism in global trade, reports PTI. India has called this meeting to explore options to reinvigorate the World Trade Organisation.

12:58 US senator introduces bill aimed at protecting call centre jobs, Indian BPOs to be hit
A legislation has been introduced in the Congress that would require call centre employees in countries like India to disclose their location and give customers the right to ask to transfer their call to a service agent in the US, reports PIT. Introduced by Democrat Senator Sherrod Brown from Ohio, the legislation also proposes to create a public list of companies that would outsource call centre jobs and give preference in federal contracts to companies that haven't shipped these jobs overseas.

12:56 Sasikala seeks 15-day parole to attend husband's funeral
Jailed AIADMK leader VK Sasikala has applied for a 15-day parole to attend her husband M Natarajan's funeral and it is under consideration, prison sources told PTI. "Sasikala has applied for parole for 15 days and it is under consideration," sources said.

12:53 No immediate arrest of public servants in cases under SC/ST Act: SC
The Supreme Court took note of the rampant misuse of the stringent Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities) Act against government servants and held that there shall be no immediate arrest on any complaint filed under the law, reports PTI.


Excl: Maruti identifies gaps in its portfolio, will launch new SUV in 2019Maruti Suzuki is racing against time to fill the product gaps in its portfolio to avoid losing its numero uno position, reports Moneycontrol News’ Swaraj BaggonkarThe Delhi-based car maker has identified a few segments where it feels it needs to expand its presence, one of which is the sports utility vehicle segment. With only the compact SUV Vitara Brezza in its line-up, the company feels it is underrepresented in the segment. Maruti would be launching a mid-size SUV on the lines of the segment best-seller Hyundai Creta in 2019.

11:50 Market extends gains; heavyweights lead
The market extended its gains and recouped all opening losses, with the Sensex rising more than 150 points ahead of two-day US Federal Reserve meeting beginning later today. The Nifty reclaims the 10,150 level, backed by index heavyweights InfosysHDFC, Reliance Industries and Tata Group stocks. The midcap index is up half a percent.

11:14 All 39 Indians kidnapped in Mosul dead, says Sushma Swaraj
All 39 Indians kidnapped in Mosul, Iraq are dead, Minister of External Affairs Sushma Swaraj informed the Rajya Sabha. “39 bodies were exhumed from a mount in Badoosh in Iraq. DNA testing led to the identification of 38 as being those of the missing Indians. On Monday, we were informed that the 38 DNA matched. The 39th DNA matched 70%.”

Swaraj said Minister of State for External Affairs VK Singh will go to Iraq and will bring back all the bodies with proofs to India. "The exhumed bodies will be brought back to India on a special plane."

11:05 India most vulnerable country to climate change: HSBC report
India is the most vulnerable country to climate change, followed by Pakistan, the Philippines and Bangladesh, a ranking by HSBC showed.

10:53 Train services on Mumbai's Central Railway resume between Matunga & CSMT
Train services on Mumbai's Central Railway have resumed between Matunga and Chhatrapati Shivaji Maharaj Terminus. Earlier today, scores of agitated students demanding jobs in the railways blocked traffic at 7 am in the morning, forcing the railways to stop the suburban as well as express train in the affected section between Matunga and CSMT. "There has been no recruitment since last four years. We are struggling from pillars to post. Over 10 students have committed suicide. We cannot let such things happen," a student who was part of the protest told CNN-News18.

10:37 Indian professionals hold rally to end green card backlog across US
Hundreds of Indian professionals held peaceful rallies across the US, demanding an end to the long and massive green card backlog by eliminating arbitrary per-country limit regulations, reports PTI. Indian-Americans, most of whom are highly skilled and come to the US mainly on H-1B work visas are the worst sufferers of the current immigration system which imposes a 7% per-country quota on allotment of green cards or permanent legal residency.

10:33 Strictly follow CPC leadership: Xi to military, govt institutions
Chinese President Xi Jinping demanded that the two million strong military and government institutions work under the leadership of the ruling Communist Party of China, reports PTI.

09:58 Modi's flagship infra projects spend on avg 21% of allotted $5.6bn
India’s flagship government initiatives have barely spent any of the money allocated to them raising questions about the on-the-ground implementation of Prime Minister Narendra Modi’s most high profile national programs, reports Bloomberg. Although the government insists the figures are wrong, a report from the Parliamentary Standing Committee on Urban Development said Modi’s six top infrastructure initiatives spent on average just 21%, or $1.2 billion, of the $5.6 billion allocated.

09:51 US bans use of Venezuela's new petro currency
US President Donald Trump signed an executive order making it illegal for Americans to purchase any cryptocurrency issued by Venezuela, reports PTI. The order prohibits US entities from engaging in any financial transactions involving the Venezuelan state digital currency, the Petro, on or after January 9, 2018, and builds upon the one that the President signed in August 2017, a senior administration official said, after Trump signed the executive order.

09:48 Market recoups opening losses; Nifty nears 10,100
The market has recouped opening losses to trade mildly higher, with the Nifty reclaiming 10,100 levels despite weak global cues. Reliance Industries, Infosys and HDFC twins are lending support. Midcaps too recover from the day's low to trade flat. Shares of Vedanta are down 5% as the stock adjusts for interim dividend.

09:35 Saudi Aramco may list first on Saudi exchange, delaying int'l debut
Saudi Arabia's state-owned oil giant Aramco, the world's largest oil company, is now expected to list its public shares on the Saudi domestic stock market, perhaps as soon as the second half of this year, sources told CNBC. But a potential international listing is now expected to come later, if at all, sources said.

09:27 Govt invites EoI for strategic stake sale in Scooters India
The government has invited expression of interest (EoI) to sell its entire stake, with transfer of management control, in loss-making listed firm Scooters India (SIL), which manufactures three-wheelers under the brand-name 'Vikram', reports PTI. In a global invitation, the Heavy Industries Ministry has asked interested parties to submit the EoI on or before May 7, 2018.

09:24 Self-driving Uber car kills Arizona woman crossing street
An Uber self-driving car hit and killed a woman crossing the street in Arizona, police said on Monday, marking the first fatality involving an autonomous vehicle, reports Reuters. Elaine Herzberg, 49, was walking her bicycle outside the crosswalk on a four-lane road in the Phoenix suburb of Tempe at 9:30 am when she was struck by the Uber vehicle traveling at about 65 km per hour, police said. The Volvo XC90 SUV was in autonomous mode with an operator behind the wheel.

09:14 Periyar statue vandalised by unidentified persons in Pudukkottai, Tamil Nadu, reports CNN-News18.

09:13 Students block railway tracks in Mumbai, demand jobs
Railway traffic has been affected due to student agitation between Matunga and Chhatrapati Shivaji Terminus railway stations. The agitators are demanding jobs in the Railways. In latest news, train services are running till Kurla station. Central Railway is allowing commuters to travel via Harbour and Western Railway to reach their destinations.

09:02 Goldman Sachs sees ‘financial fragility’ rising in markets
The stock-market rout in early February that caused a spike in the Cboe Volatility Index is a symptom of growing ‘financial fragility,’ or big swings in prices caused by breakdowns in markets themselves as opposed to changes in fundamentals, Charles Himmelberg, its co-chief markets economist, said. To make matters worse, Goldman says there’s reason to be concerned about liquidity drying up during periods when markets are distressed. (Bloomberg)

08:56 DoT says no new bank guarantee from Axis Bank to be accepted
The telecom department has ordered that bank guarantees from Axis Bank should not be taken as the country's third-largest private sector lender had failed to honour a guarantee issued previously, reports PTI. "Axis Bank has failed to invoke a bank guarantee issued by them on behalf of Aircel Group of Companies," the Department of Telecommunications said.


08:42 Uttam Galva offers 51% of outstanding loan to avoid asset auctionUttam Galva Steels has offered to settle the Rs 5,654 crore loan default by paying 51% of the amount upfront to public sector banks so as to abort auctioning of the company's assets, reports PTI. The company on March 15 wrote to the State Bank of India (SBI), proposing a ‘one-time settlement’ of all dues of lenders ‘through an upfront payment mechanism’.


08:30 Arvind targets Rs 10,000cr biz from textiles in 4-5 yearsAhmedabad-based Arvind expects Rs 10,000 crore business from its textiles business in the next four to five years, its CEO Lifestyle Fabrics-Denim Aamir Akhtar told PTI. Besides, in the next three to five years, the company intends to invest Rs 1,500 crore in the textiles business to expand capacity of its existing units as well as set up new facilities. The company is exploring newer areas such as athleisure, where it is sensing a significant opportunity.

08:20 India's net exports not doing well: Bibek Debroy
India's net exports are not doing well even as the global economy is on the recovery path, Bibek Debroy, the head of Economic Advisory Council to the Prime Minister (EAC-PM) and Niti Aayog Member, told PTI.

08:11 Krugman says manufacturing key to Rising India
Nobel laureate economist Paul Krugman warned that India could end up with mass unemployment if it does not grow its manufacturing sector. He was speaking at News18 Network’s Rising India event last week.

07:52 US may impose up to $60bn in China tariffs by Friday
The Trump administration is expected to unveil up to $60 billion in new tariffs on Chinese imports by Friday, targeting technology, telecommunications and intellectual property, officials told Reuters. The China tariffs may be subject to a public comment period, which would delay their effective date and allow industry groups and companies to lodge objections, a source said. This would be considerably different from the quick implementation of the steel and aluminium tariffs, which are set to go into effect on March 23, just 15 days after President Donald Trump signed the proclamations.

07:47 Demonetisation has led to tax terrorism: Yashwant Sinha
Dissident BJP leader and former Union finance minister Yashwant Sinha said demonetisation had led to ‘tax terrorism’ and likened Prime Minister Narendra Modi to a medieval era Delhi king known for his whimsical decisions, reports PTI.

07:32 Shutdown looming, Congress and White House seek budget deal
The US Congress, facing a Friday midnight deadline, toiled to finish writing a $1.2 trillion bill to fund the government through September 30, as several thorny issues lingered, including funding President Donald Trump’s border wall, reports Reuters.

07:25 Facebook launches audit of data leaked to Trump consultant
Facebook said it has hired a digital forensics firm Stroz Friedberg to investigate the handling of data on millions of Americans leaked to a consulting firm working on Donald Trump's 2016 presidential campaign, reports AFP. The move by comes amid an onslaught of criticism after reports that British firm Cambridge Analytica harvested personal data from the profiles of 50 million users of the social network without their knowledge or consent.

o7:09 Jailed AIADMK leader VK Sasikala's husband M Natarajan passes away
Husband of jailed AIADMK leader VK Sasikala, M Natarajan, died today at a hospital in Chennai, reports PTI. He was 74. Natarajan was admitted to the hospital on Saturday with severe chest infection and was put on ventilator support.

  • News highlights of the day: Shooting at Maryland high school, injuries reported
    Moneycontrol.com
  • A shooting took place at a high school in the eastern US state of Maryland on Tuesday, officials said, reportedly leaving several people injured just days before a nationwide student-organised march against school violence.

    Three people were shot in the incident at Great Mills High School, located about a 90-minute drive southeast of the US capital Washington, according to a county official quoted by The Baltimore Sun. St Mary's County Public Schools said on its website that the school was on lockdown and the incident had been "contained" but provided no further details. Law enforcement was on the scene.

    "It happened really quickly, right after school started" after 8:00 am (local time), Jonathan Freese, a student at the school, told CNN. (PTI)

  • That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Facebook chief Mark Zuckerberg was summoned before a UK parliamentary committee on Tuesday amid a growing row over data breaches linked to the popular social media company.

    The summons letter to 33-year-old Zuckerberg was sent by Damian Collins, the chair of the House of Commons Digital, Culture, Media and Sport Committee (DCMS), which is investigating the issue of fake news. "It is now time to hear from a senior Facebook executive with the sufficient authority to give an accurate account of this catastrophic failure of process," the letter states.

    "Given your commitment at the start of the new year to 'fixing' Facebook, I hope that this representative will be you," it adds. (PTI)

  • The Supreme Court will hear the appeals of the CBI and Karti Chidambaram in the INX Media case against the order of the Madras High Court refusing to quash the FIR in the matter in the third week of April.

    The matter is being heard by a bench of Chief Justice of India Dipak Misra, and Justices A M Khanwilkar and D Y Chandrachud.

    During the hearing, senior advocates Gopal Subramanian and A M Singhvi, appearing for Karti, the son of Congress leader P Chidambaram, said they are aggrieved by the August 22, 2017, high court order by which it had refused to quash the FIR lodged by the CBI in the case and directed him to approach the Delhi High Court as per "forum of convenience" for the relief.

    Subramanian said when Karti's properties are in Chennai, search and seizureswere conducted there, and the alleged conspiracy was also said to have been hatched in the Tamil Nadu capital, the Madras High Court should have decided the issue. (PTI)

  • Former RBI Governor Raghuram Rajan on Tuesday said reforms are likely to be put on the shelf till the next general elections but expressed hope that the country will move up to a "higher plane of growth" thereafter.

    Rajan also raised concerns about employment generation, saying India's 7.5 percent growth will not be able to create good jobs for the 12 million people coming into the labour market every year.The next general elections are scheduled in early 2019.

    "I think to some extent, reforms will be put on the shelf till the next election. But post-election, if we can accelerate this pace of reform, there's no reason why in two or three years we couldn't move up to a higher plane of growth," he said in an interview to CNBC. (PTI)

  • law on secular matters? asks SC

    The Supreme Court on Tuesday took note of the submission that a person cannot be asked to part with personal information under Aadhaar scheme on the ground of freedom of right to religion, and asked can a person refuse to follow the law in secular matters such as filing of income tax returns.

    A five-judge Constitution bench headed by Chief Justice Dipak Misra, which is hearing a clutch of pleas challenging the constitutional validity of Aadhaar and its enabling Act, was told that a boy was denied admission in school after his father denied giving biometric details for Aadhaar on the ground that their religion does not permit it.

    "In secular matters, can you say that I will not opt for it. For example, can a person refuse to opt for the Income Tax saying that his conscience does not allow it," the bench, also comprising justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan, said. (PTI)

  • Telecom major Vodafone has launched an international future jobs programme to offer skilling, career guidance and access to training content to up to 5 million youth in the country and also up to 10 million youth across 18 countries by 2022.

    Called the 'Future Jobs Finder', the programme is an open online platform accessible to all youth for identifying their skills and matching them to digital jobs and trainings worldwide, the company said in a statement and claimed the initiative to be the largest of its kind in the world.

    The first step in the Future Jobs Finder is a series of quick psychometric tests designed to identify eachindividual's aptitudes and interests and then map them to the most appropriate job in a digital economy and the second step will see the individual getting directed to specific jobopportunities in their chosen location. (PTI)

  • common code

    In a fresh appeal, the Law Commission sought people's views on the issue of common civil codebut said triple talaq is no longer a subject for consideration as a bill to criminalise the practice is pending in Parliament. The commission said that it has received an overwhelming response from the people and it is appropriate to elicit detailed submissions on the issue from the stakeholders again.

    The submissions can be in the form of working papers or consultation and can touch any issue related to the uniform civil code, except (instant) triple talaq, it said. Suggestions from government and non-government bodies and the other stakeholders can be submitted till April 6.

    A uniform civil code will mean a set of common personal laws for all citizens. Personal law, among other issues, covers marriage and divorce. (PTI)

  • The Aam Aadmi Partyannounced it's first list of 18 candidates for the coming assembly polls in Karnataka and said it intended to field its nominees in all the 224 constituencies.

    "We intend to field 224 candidates, but it all depends on resources and availability of good candidates. In any case,we will field at least 112 candidates," AAP national executive member Prithvi Reddy told reporters. Reddy, who is also the state AAP convener, said the party would release more list of candidates in the coming days. (PTI)

  • The University Grants Commission (UGC) has granted full autonomy to 62 higher educational institutions, including five central and 21 state universities, which maintained high standards, Human Resource Development minister Prakash Javadekar today said. The institutions granted full autonomy will be free to decide their admission procedure, fee structure and curriculum.

    "In line with the vision of PM @narendramodi towards the liberalised regulatory regime, 62 Higher Education institutions, which maintained high standards, have been granted autonomy by the UGC today, (sic)," he posted on Twitter.

    Five central universities, 21 state universities, 26 private universities besides 10 other colleges have been granted autonomy under the Autonomous Colleges Regulation, the minister added. (PTI)

  • A VHP-backed yatra aimed at mobilising support for a Ram temple in Ayodhya entered Tamil Nadu on Tuesday amidst opposition by DMK, pro-Tamil and some
    Muslim outfits which claimed it would disturb communal amity.Showering petals, hundreds of devotees and cadres of Hindu outfits welcomed the "Ram Rajya Rath Yatra" as it entered Shencottah in Tirunelveli District from neighbouring Kerala.

    Some activists, including those from the Manithaneya Makkal Katchi (MMK), threatened to block the yatra, which left Ayodhya on Feb 13 and traversed through six states. Police said they arrested over 300 people, including Thirumavalavan of VCK and Jawahirullah of MMK, for violating ban orders and proceeding to block the yatra. (PTI)


  • Noted music composer Illaiyaraja, Hindustani classical singer Ghulam Mustafa Khan, Hindutva thinker P Parameswaran, Kerala Bishop Philipose Mar Chrysostom and 39 other prominent personalities were conferred the prestigious Padma awards for 2018 by President Ram Nath Kovind in New Delhi on Tuesday.

    Vice-President M Venkaiah Naidu, Prime Minister Narendra Modi and his ministerial colleagues, and several other dignitaries attended the function at the Rashtrapati Bhavan.

    Keeping its promise of honouring "unsung heroes", the government this year honoured with Padma awards several personalities who served the poor, set up free schools and popularised tribal arts globally. (PTI)

  • JNU professor Atul Johri, who was arrested for sexual harassment of several women students, was granted bail by a Delhi court on Tuesday. Duty magistrate Ritu Singh granted bail to Johri and directed him to furnish a bail bond of Rs 30,000 for each of the eight FIRs registered against him. Johri had moved a bail plea saying sending him to jail would spoil his career. Students, professors and women rights organisations have been protesting demanding his arrest, after some students accused him of sexual harassment. (PTI)

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