LIVE: India-China disengagement to be completed in next few days, says Army

Travellers to Punjab will have to undergo 14-day home quarantine from today. Stay tuned with Business Standard for the latest news of today

2:20 AM

Huawei says US pressure on Brazil threatens long delays in 5G rollout

A Huawei Technologies executive warned that Brazil could suffer years of delay in deploying a 5G telecoms network and higher costs if it succumbs to mounting U.S. pressure to snub the Chinese equipment supplier.

His remarks come as the Trump administration steps up efforts to limit Huawei’s role in rolling out high-speed, fifth-generation technology in Latin America’s largest economy. U.S. Ambassador Todd Chapman has even suggested Washington is willing to fund the purchase of gear from other suppliers for Brazil.

2:19 AM

Wall Street ends lower after strong recent rally as COVID cases mount

U.S. stocks eased on Tuesday as investors took profits a day after the S&P 500 logged its longest streak of gains this year and as new U.S. coronavirus cases rose further. Large parts of the United States reported tens of thousands of new coronavirus infections. New York expanded its travel quarantine for visitors from three more states, while Florida’s greater Miami area rolled back its reopening.

 

The Nasdaq outperformed the other two main indexes and claimed another record intraday high before ending down on the day. Strategists said investors may be taking profits after the recent run higher.

2:18 AM

Oil prices steady as economic data overshadows coronavirus worries

Oil prices settled little changed on Tuesday as demand concerns due to a new surge in coronavirus cases overshadowed US government forecasts for lower production.
 

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel. Early in the session, the market popped because of the higher forecast demand, and more bullish jobs data, said Phil Flynn, senior analyst at Price Futures Group in Chicago. But the market gave up the gains as focus returned to rising coronavirus cases.

12:25 AM

JNU to conduct exams for students who failed to take online tests

JNU VC M Jagadesh Kumar on Tuesday said the varsity will be conducting exams for the students who were unable to take them online, a day after the HRD Ministry decided not to cancel the final year exams in universities in view of the coronavirus pandemic.

 

Final year exams in universities will have to be conducted by September-end this year, the HRD Ministry announced on Monday, deferring the schedule from July in view of the spike in Covid-19 cases.

 

However, students unable to appear in final year exams in September will get another chance and universities will conduct special exams "as and when feasible", according to the revised guidelines issued by the University Grants Commission (UGC).

 

The decision by the HRD Ministry came following a nod from the Ministry of Home Affairs (MHA) to conduct the exams as per the standard operating procedure (SOP) approved by the Ministry of Health and Family Welfare.

11:53 PM

Jio Platform gets Rs 43,574 cr from Facebook for stake sale

Jio Platforms, the parent firm Reliance Jio, has received Rs 43,574 crore investment from Facebook for a 9.99 per cent stake in the company, Reliance Industries said in regulatory filing on Tuesday.

The deal between Jio Platforms and Facebook was announced on April 22.

"We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, today received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc)," RIL said in the filing.

11:53 PM

YES Bank Board okays fund raising by Further Public Offering

YES Bank on Tuesday said that its Capital Raising Committee of the Board of Directors has approved raising funds by way of a further public offering.

 

The committee took the decision at its two-hour long meeting on Tuesday.

 

"The Capital Raising Committee of the Board of Directors of the Bank ('CRC"'), at its meeting held earlier today i.e., July 7, 2020, has approved raising funds by way of a further public offering," the bank said in a regulatory filing.

11:44 PM

Mary Trump's book offers devastating portrayal of US president

President Donald Trump's niece offered a devastating portrayal of him in a book that credits a perfect storm of catastrophes" for exposing the president at his worst.

 

Mary L Trump, a psychologist, writes that the coronavirus pandemic, the possibility of an economic depression and deepening social divides have brought out the worst effects" of Donald Trump's pathologies, which were less evident when the country had a stable economy and the lack of serious crises.

 

Those factors, along with Donald's penchant for division, and uncertainty about our country's future have created a perfect storm of catastrophes that no one is less equipped than my uncle to manage," she writes.

 

The president's brother Robert tried to bar publication of the book. Early copies of the book, slated for publication next week, became available on Tuesday.

11:41 PM

11:28 PM

Will examine UGC guidelines on UG, PG exams: Rajasthan minister

Two after his government decided to cancel examinations for undergraduate and postgraduate courses, Rajasthan Higher Education Minister Bhanwar Singh Bhati said they will look into the fresh UGC guidelines and take a decision after discussions at the highest-level in the state.

However, the minister said they will apprise the University Grants Commission (UGC) of difficulties in holding the exams.

Bhati said the decision of not conducting the examinations was taken in view of the coronavirus pandemic, transportation and other problems.

11:18 PM

GMR completes deal with Groupe ADP for airport business; receives Rs 4,565 crore in second tranche

10:27 PM

TMC holds protest rallies against hike in fuel prices, Railway privatisation of routes

10:27 PM

Delhi govt to provide free ration to PDS cardholders till November

10:27 PM

GST committee considering demand for extending FY20 returns filing date for composition dealers

10:09 PM

Godrej Security Solutions ventures into health security segment

Godrej Security Solutions (GSS) on Tuesday announced its venture into the health security segment by introducing UV Case that will use light disinfection technology to sanitise daily objects and equipment brought from outside.

 

Godrej Security Solutions estimates the total addressable health security and safety market for FY 2021 in the country to be around Rs 200crore, the Godrej group firm said in a statement.

 

"We seek to capture at least 20 per cent share of the addressable market," saidGodrej Security Solutions Vice President Mehernosh Pithawalla.

9:49 PM

Over 1,000 evacuated as heavy rains lash Gujarat; flood waters recede in Assam

9:48 PM

ECB announces first phase of diversity strategy

The England and Wales Cricket Board (ECB) on Tuesday announced the first phase of its strategy to increase diversity in cricket in the country with greater focus on black communities. The measures are focussed on increasing representation of black and coloured people in administration, increasing education and awareness on racism and creating further opportunities and highlight role models for diverse communities within the sport.

 

"This is the first phase of our new plans, and we know we can never stand still if we are to be truly inclusive and diverse. We will continue to listen to, consult and collaborate with diverse communities to develop further. We remain committed to learning more, growing more and achieving more with open minds and a single-minded philosophy to deliver on our aims -- to see a generation inspired to say that 'cricket is a game for me'," ECB Chief Executive Officer Tom Harrison said.

9:45 PM

US conveys to India that it will keep best interests of Indians in mind: Report

9:38 PM

Sisodia asks schools to involve guest, contract teachers in new teaching-learning plan

9:24 PM

US conveys to India detailed implementation guidelines yet to come out on Trump administration's decision on foreign students' visas: Report

9:03 PM

Pakistan, China call for orderly withdrawal of foreign troops from Afghanistan

Pakistan, China and Afghanistan on Tuesday called for for "orderly" and "responsible" withdrawal of foreign troops from the war-torn country to prevent a potential terrorist resurgence, according to a PTI report.

 

The three sides also agreed to continue to strengthen counter-terrorism and security cooperation, according to a joint press statement issued at the conclusion of the 3rd round China-Afghanistan-Pakistan trilateral vice foreign ministers' dialogue held via video link. Chinese Vice Foreign Minister Luo Zhaohui, Afghan Deputy Foreign Minister Mirwais Nab and Pakistan's Foreign Secretary Sohail Mahmood co-chaired the meeting.

 

"The three sides urged for an orderly, responsible and condition based withdraw of the foreign troops from Afghanistan to avoid potential terrorist resurgence," the statement said.

 

An agreement signed between the US and the Taliban in February in Doha drew up plans for withdrawal of American troops from Afghanistan in exchange for security guarantees from the insurgent group.

8:56 PM

Latest News LIVE: Google Meet crosses 10 crore installs in less than two months

Popular video meet app Google Meet for Android has surpassed over 10 crore downloads globally on Google Play Store, according to an IANS report.

 

The platform doubled the install base in less than two-months time as more and more people turned to video conferencing owing to the global pandemic, reports Android Police.

 

According to app traffic and performance observer AppBrain, Google Meet passed 5 crore (50 million) installs or downloads mark on Google Play on May 17. AppBrain figures indicated that the app crossed 10 crore installs on July 7.

8:42 PM

SEBI extends compliance deadline for municipal bond issuers

The Securities and Exchange Board of India (SEBI) has further extended timelines for regulatory compliances by issuers of municipal debt securities in view of the Covid-19 pandemic, news agency IANS reported.

 

The regulator extended the relaxations in terms of submission of investor grievance report, financial results and accounts maintained by issuers under the SEBI norms. Now the deadline for making these submissions has been extended till July 31. In March, the SEBI had extended the deadline till June 30.

 

The circular would be implemented with immediate effect. The SEBI advised the exchanges to bring the provisions of this circular to the notice of all listed entities that have issued municipal debt securities and also disseminate it on their websites.

 

The securities market regulator has provided several relaxations to companies and market participants due to the inconveniences emerged out of the pandemic.

8:34 PM

CEO and two directors of LG Polymers arrested in connection with Vishakapatnam gas leak case

CEO and two directors of LG Polymers arrested in connection with the styrene vapour leak near Vishakapatnam on May 7 that left 12 dead: Police Commissioner R K Meena

8:21 PM

Promise of $1 trillion by 2020 has not been fulfilled: P Javadekar on on climate action

8:19 PM

Over 1,000 people evacuated from low-lying areas in Saurashtra region of Gujarat as heavy rain continues for third consecutive day

8:19 PM

Latest News LIVE update: SC to hear pleas on Maratha quota on July 15

The Supreme Court Tuesday said it would hear on July 15 the petitions which have raised the issues relating to Maharashtra law granting reservation to Marathas in education and jobs. The Socially and Educationally Backward Classes (SEBC) Act, 2018 was enacted to grant reservation to people of Maratha community in Maharashtra in jobs and admissions, according to a PTI report.

 

The Bombay High Court, while upholding the law in June last year, had held that 16 per cent reservation was not justifiable and said that quota should not exceed 12 per cent in employment and 13 per cent in admissions.

 

The pleas against the high court order came up for hearing through video-conferencing on Tuesday before a three-judge bench headed by Justice L Nageswara Rao. Some of the lawyers appearing in the matter told the bench that physical hearing was required in the case as the issue might not be adjudicated upon properly in virtual hearing through video-conferencing.

8:16 PM

China's high debt catches attention of rating agencies

ht is on China -- and again not for any happy reason. As Chinas economy contracted by 6.8 per cent in the first quarter of 2020 and its unemployment rate touched 6.2 per cent in April, its burgeoning debt problem can finally catch the attention of the rating agencies. Its debt-to-GDP ratio stands at 317 per cent at present, according to an IANS report.

 

The country's overall level of debt, driven primarily by real estate and shadow banking, has risen steadily in the last decade.

 

Deftly, China has kept direct borrowings by the central government at a reasonable level but the accounts of the local governments and its companies and banks are mired in a web which is difficult to analyse.

8:11 PM

TikTok rival Mitron hits over 25mn downloads from Google Play

Homegrown short-form video app Mitron on Tuesday said it has achieved over 25 million downloads from Google Play Store and more and more content creators are making a beeline to join the app, according to an IANS report.

 

Mitron emerged as an homegrown alternative to TikTok as anti-China sentiment rose in the country amid border tensions in Ladakh.

 

The app, however, was briefly removed from Google Play Store apparently for "technical policy violations". After it fixed the issues raised by Google, the app reappeared on Google Play. With India deciding to ban TikTok late last month over national security concerns, the popularity of Mitron further increased.

 

The Bengaluru-based app on Tuesday claimed that about 40 million videos are viewed on the platform per hour while nearly one million new videos are created per day. Founded by two computer science engineers, Shivank Agarwal who is an alumnus of Indian Institute of Technology Roorkee and Anish Khandelwal, an alumnus of Visvesvaraya National Institute of Technology in Nagpur, Maharashtra, the app was launched in April this year.

8:00 PM

Chinese military withdraws troops, removes structures in Hot Springs, Gogra: Sources (PTI)

Chinese military removed temporary infrastructure and continued gradual withdrawal of troops from face-off sites in Hot Springs and Gogra in eastern Ladakh for the second consecutive day on Tuesday, and the Indian Army is keeping a strict vigil on their rearward movement, government sources said according to a PTI report. Gogra and Hot Springs are among the key friction points where the two armies were in an eyeball-to-eyeball situation for the last eight weeks.

 

The sources said the mutual disengagement of troops at the two friction points is likely to be completed within two days, and that there has been "substantial" withdrawal of forces by Chinese military from the areas.

 

The disengagement process began on Monday morning after a nearly two-hour telephonic conversation between National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi on Sunday during which they agreed on an expeditious withdrawal of troops from the area. Doval and Wang are Special Representatives for the boundary talks.

 

The sources said the Indian Army is not lowering its guard in view of the disengagement process in the area and will continue to maintain high-level of alertness to deal with any eventualities. They said the two two Armies are expected to hold further talks later this week after the first phase of disengagement process is completed.

7:55 PM

Delhi records 2,008 fresh COVID-19 cases, tally rises to 1,02,831; death toll mounts to 3,165