India democracy-loving, capitalist-respecting: FM
Investors can find no better place in the world than India that has a democracy loving and capitalist respecting environment, Union Finance Minister Nirmala Sitharaman has said. She also assured international investors at an interaction session at the IMF's headquarters that the government was continuously working to bring reforms.
Here are the other important stories of the day:
Boris Johnson announces Brexit deal
Prime Minister Boris Johnson said on Thursday that Britain and the European Union had agreed a "great" new Brexit deal and urged lawmakers to approve it at the weekend. Britain and the European Union have been racing to renegotiate the Withdrawal Agreement in time for an October 31 Brexit, but the deal still needs approval from parliament.
Govt expands PMEAC, appoints 3 part-time members
Less than a month after reconstituting the Economic Advisory to the Prime Minister, the Centre has added three more part-time members to the advisory body – Neelkanth Mishra, Nilesh Shah and Anantha Nageswaran. Mishra is the India Equity Strategist for Credit Suisse, Shah is the Managing Director of Kotak Mahindra Asset Management, and Nageswaran is the Dean of IFMR Graduate School of Business. Since they are part-time members, they may not have to take leave from their current posts.
IAG to sell stake in SBI General Insurance to Premji Invest, Warburg Pincus
Public sector lender SBI on Thursday said its joint venture partner IAG will sell entire 26 per cent stake in its subsidiary SBI General Insurance to Napean Opportunities and WP Honey Wheat lnvestment Ltd for an undisclosed amount. "IAG has entered into definitive agreements to sell the whole of its 26 per cent interest in SBI General via two transactions," State Bank of India said in a regulatory filing. The country's largest lender and lnsurance Australia Group (IAG) currently own 70 per cent and 26 per cent, respectively, in SBI General Insurance.
Details of investment in J&K would be available soon: FM
The details of the government's policy to attract more investments in Jammu and Kashmir would be available very soon, Finance Minister Nirmala Sitharaman said, listing out the potential the area carries for investors in sectors like tourism, handicrafts, silk, production of saffron and apple.
'Don't be a fool': Trump in a letter to Erdogan
US President Donald Trump has written a letter to his Turkish counterpart Recep Tayyip Erdogan threatening him against Syria offensive and asking him 'not to be a fool'.
Malvinder, Shivinder sent to 14-day judicial custody
A Delhi court on Thursday remanded former Fortis Healthcare promoters Malvinder Singh and his brother Shivinder Singh to 14-day judicial custody for allegedly misappropriating funds of Religare Finvest Ltd (RFL).