LIVE: 'I respect party's decision,' says Nupur Sharma on BJP suspending her

I have grown up in the organisation, respect and accept its decision, says Nupur Sharma on her suspension from BJP

8:54 PM

Yellen says 'impossible' to insulate US from oil market shocks

US Treasury Secretary Janet Yellen said it is "virtually impossible" for the United States to insulate itself from oil market shocks such as those caused by Russia's invasion of Ukraine, so it is important to shift toward renewable energy sources.

 

Yellen told the Senate Finance Committee that U.S. oil producers failed to anticipate the recovery in demand and prices following the COVID-19 pandemic, but they now have incentives to increase production.

8:24 PM

Accept and respect party's decision: Nupur Sharma on suspension from BJP

Suspended BJP spokesperson Nupur Sharma on Tuesday said she "accepts and respects" the party's decision.

 

The BJP on Sunday had suspended its national spokesperson Sharma and expelled its Delhi unit's media head Naveen Kumar Jindal as the row over their alleged derogatory remarks against Prophet Mohammed escalated with protests from some Muslim countries.

 

"I have practically grown up in the organisation. I respect and accept their decision," Sharma said after she was asked about the BJP's action against her.

8:23 PM

Omicron sub-variants BA.4 and BA.5 account for up to 13% of COVID variants in US: CDC

The BA.4 and BA.5 sub-variants of Omicron are estimated to make up nearly 5% and 8% of the coronavirus variants in the United States as of June 4, the U.S. Centers for Disease Control and Prevention (CDC) said on Tuesday.

 

The two sublineages, which were added to the World Health Organization's monitoring list in March and designated as variants of concern by the European Centre for Disease Prevention and Control (ECDC), were present in all U.S. regions.

 

Last month, South African scientists found that the sublineages of the Omicron coronavirus variant can dodge antibodies from earlier infection well enough to trigger a new wave.

7:55 PM

EOW of Delhi Police arrests former chairman & MD of Religare Enterprises

7:50 PM

IBM winding down Russian operation, laying off employees: Memo

International Business Machines Corp is winding down its business in Russia and has started to lay off its employees in the country, according to a memo to staff sent last week and emailed to Reuters on Tuesday.

 

After Russia invaded Ukraine in February, IBM joined hundreds of other companies in suspending business in the country. Many others had announced a complete exit from Russia.

 

"As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM's business in Russia," Chief Executive Arvind Krishna wrote to employees.

7:48 PM

5,947 active Covid cases in Mumbai

7:33 PM

BJP attacks Kejriwal after ED seizes cash, gold at Jain's premises

The BJP on Tuesday latched on to the Enforcement Directorate's seizure of cash and gold from the premises of arrested AAP leader Satyendar Jain to hit out at Delhi Chief Minister Arvind Kejriwal, and asked what is his compulsion for not seeking Jain's resignation as minister so far.

 

BJP spokesperson Shehzad Poonawalla also played an audio of Kejriwal's strong defence of Jitender Singh Tomar, a minister in the previous AAP government who had to quit for allegedly having a fake degree, before he was forced to sack him as probe brought forth evidence of his suspected wrongdoing.

6:55 PM

Maharashtra logs 1,881 new Covid cases, including 1,242 in Mumbai

6:22 PM

Still suffering from Covid, Sonia seeks more time to appear before ED

Congress president Sonia Gandhi has sought more time from the Enforcement Directorate (ED) to appear before it as she is still suffering from Covid, party sources said on Tuesday.

 

They said Gandhi, who tested positive on Thursday, is yet to recover and her latest report is not Covid-negative.

 

The ED had summoned Gandhi to appear before it on June 8 in connection with a money laundering case linked to the National Herald newspaper-AJL issue.

 

The ED had also summoned her son and former party chief Rahul Gandhi on June 13 for questioning in the case.

5:36 PM

India tops Lankan tourist market despite slump due to ongoing economic and political crisis

India has emerged as Sri Lanka's top inbound tourist market in May, even as there is a slump in the cumulative arrivals of holiday makers due to the ongoing economic and political situation in the country, the tourism authority here said on Tuesday.

 

As many as 5,562 tourists from India visited Sri Lanka in May followed by 3,723 from the UK, the Sri Lanka Tourism Development Authority (SLTDA) said in a statement.

 

However, the cumulative arrivals of visitors in May have been halved in comparison to April.

5:08 PM

German foreign minister tests positive for Covid on Pakistan visit

German Foreign Minister Annalena Baerbock is cutting her visit to Pakistan short after testing positive for the coronavirus, broadcaster ntv reported on Tuesday.

 

Baerbock has cancelled her remaining meetings in Pakistan and has lost her sense of taste, ntv reported. Pakistan was Baerbock's first stop on a tour that was also due to include visits to Greece and Turkey.

 

5:00 PM

Ukraine must not be pressured into a bad peace deal, says UK PM Johnson

Ukrainian President Volodymyr Zelenskiy must not be pressured by world powers into accepting a bad peace deal with Russian President Vladimir Putin, British Prime Minister Boris Johnson told his top team of ministers on Tuesday.

 

At the cabinet meeting, British foreign minister Liz Truss also said London was readying further sanctions against Russia for its invasion of Ukraine, Johnson's spokesman told reporters.

 

Johnson, who survived a confidence vote brought by his lawmakers on Monday, told his ministers Britain would "remain at the forefront" of support for Ukraine, the spokesman added.

 

5:00 PM

Russia says two Ukrainian ports ready to ship grain but Kyiv must demine coast

Russia said on Tuesday that two major Ukrainian ports on the Sea of Azov seized by Russian forces were ready to resume grain shipments, but the Kremlin said Kyiv still needed to demine the approaches to its ports for exports to take place.

 

Russia has seized large parts of Ukraine's coast in nearly 15 weeks of war and its warships control the Black and Azov Seas, blocking Ukraine's farm exports and driving up the price of grain.

4:56 PM

S&P futures fall 1% as Target warns of weaker margin again

US stock index futures extended declines on Tuesday as shares of retailers fell after Target Corp issued a weak quarterly margin forecast for the second time in less than a month.

 

At 7:13 a.m. ET, Dow e-minis were down 287 points, or 0.87%, S&P 500 e-minis were down 40.75 points, or 0.99%, and Nasdaq 100 e-minis were down 157 points, or 1.25%.

4:43 PM

ED seizes Rs 2.8 cr cash, 133 gold coins from premises of Jain, his aide

4:32 PM

Target warns of weaker margins again as inflation curbs consumer spending

Target Corp on Tuesday cut its quarterly margin forecast issued just weeks earlier, and said it would have to offer deeper discounts and stock more essential items, as inflation dents consumer spending.

 

The surprise forecast revision is a big blow for the company, which in May joined larger rival Walmart in reporting a steep drop in quarterly profit, sending shockwaves through the retail industry.

 

With soaring inflation and higher gas prices, consumers are changing their shopping habits, catching many retailers off guard and forcing them to offer more discounts.

4:29 PM

Copper slips as China demand concerns dominate sentiment

Copper prices slipped on Tuesday as doubts over demand in top consumer China were reinforced by a stronger dollar, though there was some support from a hefty drop in inventories at warehouses approved by the London Metal Exchange (LME).

 

Benchmark copper on the LME was down 1.2% at $9,630 a tonne by 1018 GMT, having of touched a five-week high of $9,916.19 in the previous session on optimism that the lifting of COVID-19 lockdowns in China would boost demand.

4:21 PM

Ukraine's Zelensky 'very happy' about political survival of UK's Johnson

Ukraine's President Volodymyr Zelensky said he was "very happy" that Boris Johnson was still the British Prime Minister at a Tuesday online event.

 

"I'm glad we haven't lost a very important ally, this is great news," he said over video link at the event hosted by FT Live. Johnson narrowly survived a confidence vote of his Conservative Party lawmakers on Monday.

3:46 PM

UK PM Johnson seeks to rally his party after surviving leadership test

British Prime Minister Boris Johnson tried to shore up his leadership on Tuesday by setting out a raft of new policies to ministers after he narrowly survived a confidence vote that revealed the scale of the threat to his position.

 

Johnson won the ballot of Conservative Party law-makers on Monday evening by 211 votes to 148 - enough to avoid having to immediately resign but a larger than anticipated rebellion within his party that leaves him wounded and battling to win back the confidence of his colleagues and the general public.

 

His first challenge is to convince his most senior allies, some of whom would have been likely to run to replace him if he had been forced out, that he will be able to move on from questions about his leadership.

 

Johnson thanked cabinet ministers for their support as he urged them to push through reforms to lower costs for consumers, businesses and government.

2:59 PM

Plea in SC challenges validity of certain sections of Places of Worship (Special Provisions) Act

A fresh petition has been filed in the Supreme Court challenging the validity of certain sections of the Places of Worship (Special Provisions) Act, 1991, alleging that the Centre has arbitrarily created an irrational retrospective cut-off date and declared that the character of places of worship shall be maintained as it was on August 15, 1947.

The plea, filed by a retired Army officer, has challenged the constitutional validity of sections 2, 3, and 4 of the 1991 Act claiming that they violate the principles of secularism.

While section 3 of the Act deals with the bar of conversion of places of worship, section 4 pertains to the declaration as to the religious character of certain places of worship and the bar of jurisdiction of courts.

2:54 PM

India to ramp up coal output to reduce dependence on imports: Moody's

Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody's Investors Service said on Tuesday.

The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the country's power utilities and build up buffer stock.

"Large coal-importing countries such as China and India will also seek to ramp up domestic coal production to enhance energy security and reduce reliance on coal imports. Chinese coal production surged 15 per cent in March 2022," Moody's Investors Service said.

2:53 PM

ED attaches over 200 plots, flats in 3 states in ponzi-linked money laundering case

Over 200 plots of land and flats in Andhra Pradesh, Telangana and Karnataka have been attached in connection with a probe against alleged Ponzi scheme promoters who are accused of duping numerous investors, the ED said on Tuesday.

 

According to the Enforcement Directorate, a provisional order under the Prevention of Money Laundering Act was issued to attach these properties.

 

The assets are worth Rs 110 crore in total and are held in the name of Maithri Plantation and Horticulture Pvt Ltd (MPHPL), its sister concerns Sree Nakshatra Builders and Developers India Pvt Ltd (SNBDIPL), Maithri Realtors India Pvt. Ltd (MRIPL) and their directors Lakku Konda Reddy, Lakku Malayadri Reddy, Lakku Madhava Reddy and Kolikalapudi Brahma Reddy, it said.

 

2:51 PM

HDFC Bank hikes lending rates by 0.35%; 2nd hike in two months

The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate.

 

The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent.

 

The RBI had surprised all with a 0.40 per cent hike in key interest rates on May 4 to tame the inflation situation and is widely expected to follow up with further tightening of the policy on Wednesday.

2:43 PM

Sri Lanka PM hints at opting for fuel rationing amid economic crisis

The next three weeks are going to be "tough" for Sri Lanka over fuel supplies, Prime Minister Ranil Wickremesinghe warned on Tuesday, indicating that the cash-strapped country, which needs some USD 3,300 million for fuel imports in the next six months, may opt for its rationing.

Addressing Parliament, Wickremesinghe said that India, China and Japan are leading the list of countries that provided Sri Lanka with loans and assistance during the worst financial crisis faced by the island nation.

Relations with these countries, which have always been strong, are now broken. Those relationships need to be rebuilt," he said.

2:43 PM

India transformed into global superpower only in last 8 years: Harsh Vardhan

Prime Minister Narendra Modi has transformed India from a third-world country into a global superpower in the last eight years, said former Union minister Harsh Vardhan while lauding the BJP-led Centre's major decisions in the last eight years.

 

Addressing a press conference at the BJP headquarters here on Tuesday, he said the prime minister has "instilled a new sense of confidence" among the Indians by his "exemplary captaincy".

 

Vardhan said Modi has always considered power as a medium of serving the public.

2:33 PM

China advances plans for space solar power plant

China has advanced its plans to launch a space solar power plant programme in 2028, two years ahead of the original schedule, according to a new paper.

 

The nation, earlier, aimed to put a 1 megawatt solar energy station in space by 2030.

 

According to the updated plan, published in the peer-reviewed journal Chinese Space Science and Technology, a satellite will be launched in 2028 to test wireless power transmission technology from space to the ground from an altitude of 400km, the South China Morning Post reported.

2:24 PM

Inclusion is firm foundation underlying Indian constitutional architecture: Naidu

'Inclusion' is the firm foundation underlying the Indian constitutional architecture and it finds an echo in the philosophy of the Modi government which believes in "sabka sath, sabka vikas, sabka vishwas and sabka prayas", Vice President M Venkaiah Naidu has said.

 

His remarks at a community reception in Doha, Qatar on Monday came against the backdrop of protests in India and condemnation by several Muslim countries of the controversial remarks of two BJP members against Prophet Mohammad.

 

Qatar was the first country to officially take up the issue with New Delhi.

2:15 PM

Assam: Success rate in class 10 board exams dips to 56%

The Board of Secondary Education Assam (BESA) announced the results of the class 10 board examinations on Tuesday, in which 56.49 per cent of 4,05,582 candidates were declared successful, officials said.

The pass percentage among boys was 58.80, while it was 54.49 per cent among girls, they said.

Total 2,29,131 candidates cleared the examination. Dhemaji recorded the highest pass percentage at 85.46, while Chirang recorded the lowest at 34.27 per cent.

2:08 PM

Will shed my blood but never allow division of Bengal: Mamata

Amid demands for a separate state carved out of Bengal by some BJP leaders, Chief Minister Mamata Banerjee on Tuesday asserted that she is ready to shed her own blood, if need be, to thwart such attempts to divide the state.

Lashing out at the saffron camp "for trying to fan separatism" in the state, ahead of the general election in 2024, the TMC supremo maintained that all communities in north Bengal had been living in harmony for decades.

"With elections approaching, the BJP is fanning the demands of separate statehood... sometimes seeking Gorkhaland, and at other times a separate state of North Bengal. I am ready to give my blood but will never allow division of the state," Banerjee said, addressing a party meeting here.

1:59 PM

Sri Lanka PM Wickremesinghe hints at opting for fuel rationing amid economic crisis

The next three weeks are going to be "tough" for Sri Lanka over fuel supplies, Prime Minister Ranil Wickremesinghe warned on Tuesday, indicating that the cash-strapped country, which needs some USD 3,300 million for fuel imports in the next six months, may opt for its rationing.

Addressing Parliament, Wickremesinghe said that India, China and Japan are leading the list of countries that provided Sri Lanka with loans and assistance during the worst financial crisis faced by the island nation.

Relations with these countries, which have always been strong, are now broken. Those relationships need to be rebuilt," he said.