LIVE: President nod to renaming of HRD Ministry as Ministry of Education

The Ganga river's water level at Gandhi Ghat was 48.62 meters, which is 2 cm above the danger mark. Stay tuned for the latest news of the day

2:38 AM

Singapore extends $5.8 billion stimulus to cushion blow from pandemic

Singapore Deputy Prime Minister Heng Swee Keat announced additional support measures of S$8 billion ($5.8 billion) to cushion the blow from the coronavirus pandemic, extending wage subsidies and aiming to shore up the hard-hit aviation and hospitality sectors.

 

The new set of measures, announced almost three months after the last package, adds to Singapore’s total pledged pandemic aid of almost S$100 billion, Heng, who is also finance minister, said in a taped speech aired Monday. The measures will be financed in part by unused expenditures from earlier budgets, and won’t require additional funds.

2:37 AM

Google attacks Australian govt, says users could lose access to free search

Google warned on Monday that the Australian government’s plans to make digital giants pay for news content threatens users’ free services in Australia and could hand users’ data to media organisations.
 

The US-based company’s warning, contained in what it called an Open letter to Australians, comes a week before public consultations close on Australian draft laws that would make both Google and Facebook pay for news siphoned from commercial media companies.

2:37 AM

China injects $101 billion to ease liquidity, holds interest rate

China’s central bank supplied liquidity to commercial lenders on Monday to help them manage upcoming government bond sales, while leaving the price of the money unchanged as the economy recovers.
 

The People’s Bank of China (PBoC) added 700 billion yuan ($101 billion) of one-year funding via the medium-term lending facility.

The central bank said Friday that today’s operation is meant to offset the 400 billion yuan in loans coming due Monday and another 150 billion yuan maturing on August 26.

2:37 AM

Covid-19 impact: GDP to contract 16.5% in first quarter, says SBI report

SBI Research has projected gross domestic product (GDP) contraction at 16.5 per cent in the first quarter of 2020-21, against a 30 per cent decline estimated earlier.It attributed the revision mainly to smaller gross value added (GVA) degrowth by listed companies for the quarter.

 

SBI Group Chief Economic Advisor Soumya Kanti Ghosh said in principle revenue decline of listed companies had been far outstripped by cost rationalisation, thereby not impacting margins. The worrying part of the story is that there has been a rapid surge in Covid cases in the rural heartland. The numbers for Q1 are slated to be released by this month end.

12:36 AM

Delegation of South Korean electric vehicle maker meets UP CM, expresses desire to invest in state

12:34 AM

Trump counters Biden with law and order message in Minnesota

Declaring it's crunch time for the upcoming election, President Donald Trump zeroed in on Midwest battleground states on Monday with a tough, law and order message to counterprogram former Vice President Joe Biden's show at the Democrats' national convention.
 

In Mankato, Minnesota, Trump is expected to step up his rhetoric against Biden.
 

This election is about the survival of our nation. Joe Biden is the puppet of left-wing extremists trying to erase our borders, eliminate our police, indoctrinate our children, vilify our heroes, and replace American freedom with left-wing fascism, Trump said in remarks prepared for delivery. But the proud people of Minnesota will not let this happen.

11:56 PM

Trump looked at banning further Chinese apps in addition to TikTok: Report

11:55 PM

Rajasthan CM directs officials to make all arrangements to handle any flood-like situation

11:52 PM

President gives assent for changing name of HRD Ministry to Ministry of Education: Official notification

11:18 PM

Himachal Pradesh University postpones its examinations scheduled for tomorrow