Top headlines: CBI books Videocon boss; Trump's visa rules spark protests

From Facebook seeking legal help on Jio investment to China raising deployments in Galwan, here are top headlines this morning

CBI books Videocon's Dhoot for 'corruption'

The Central Bureau of Investigation (CBI) on Tuesday booked Videocon group Chairman Venugopal Dhoot for alleged corruption in the financing of their oil and gas assets in Mozambique in connivance with unidentified officials of a State Bank of India-led consortium, officials said. The CBI has registered the FIR after a preliminary enquiry on a complaint from the Oil Ministry. Read More

Facebook seeks legal advice on Jio Platforms investment

Facebook (FB), ahead of its $5.7-billion investment in Jio Platforms, has sought legal advice pertaining to India’s new foreign direct investment (FDI) policy towards neighbouring countries, particularly China and Hong Kong. While the social media giant is founded and headquartered in the US, being a public-listed company it has investment from several funds based out of China and Hong Kong. Read More

Mukesh Ambani keeps salary capped at Rs 15 cr for 12th straight year

Mukesh Ambani, the richest Indian, has kept his annual salary from his flagship firm Reliance Industries capped at Rs 15 crore for 12th year on the trot in the fiscal ended March 31 and has thereafter decided to forego the entire remuneration in view of the Covid-19 pandemic. Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum. Read More

US, India to create green corridor for resuming flights

India and the United States (US) are working on a plan to create a travel corridor which will significantly ease travel restrictions between the two countries. This will be the first green corridor India will establish with any country. Besides the US, similar initiatives are being tried with select European countries as well. Read More

Tech industry protests Trump's curbs on work visas

All eyes are on the next set of regulations for non-immigrant work visas, after US President Donald Trump signed a proclamation late on Monday, restricting H1B, L1, and other immigration visas until the end of 2020. The move will hit the information technology (IT) industry — in both India and the US. Read More

Govt asks Ramdev's Patanjali group to stop Covid-19 drug ads

Taking cognizance of the high-voltage launch of “Covid-19 medicines” by Ramdev’s Patanjali group in Haridwar, the Ministry of AYUSH issued a notice to the ayurveda giant seeking details of the drugs. Hours after Ramdev unveiled a number of drugs that they claimed can prevent and cure Covid-19, the ministry denied knowledge of the drugs and asked the group to refrain from publicising them. Read More

China talks peace but raises troop deployment by 30%

A day after a 11-hour border meeting between senior military commanders of India and China, Beijing has welcomed an agreement to “cool down the situation”. It said it would continue holding talks “for peace and tranquillity” along the Line of Actual Control (LAC). Read More

India slaps anti-dumping duty on steel from China, Vietnam, Korea

In a bid to curtail cheaper imports of flat steel in the value-added segment, the government on Monday announced anti-dumping on flat-rolled product of steel, plated or coated with aluminium and zinc. However, the duty is applicable on products originating from or exported from China, Vietnam, and South Korea and imported into India. Read More

Mobile device makers reject DoT on source code demand

Leading mobile device makers are jointly discussing a representation to reject a proposal of the Department of Telecommunications (DoT) asking them to share their source codes for enhanced security measures. They oppose the proposal on the grounds that source codes are “commercially valuable, confidential, and sensitive information”. Read More

Realme to hire 7,500 in India by year-end

Chinese smartphone maker Realme on Tuesday said it will hire 7,500 people in India by the end of the year, and will add a slew of IoT (Internet of Things) products like smart toothbrush, sweeping machine and smart locks as it expands its product portfolio in the country. Read More