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This will be another step in a series of measures the govt has taken to cool surging local prices of food. The government is deliberating whether to reduce the agriculture infrastructure and development cess, which is currently 5%, or abolish it. The extra levy is used by the government to collect funds for farm infrastructure projects. Curbing the tax could be one of the limited options available for the government to reduce surging vegetable oil prices. India has already scrapped base import levies on most cooking oils, including palm oil and soybean oil, and imposed inventory limits to prevent hoarding. Edible oil prices in India, which relies on imports for 60% of its needs, have surged this year in the wake of the Ukraine war.
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All efforts are continuing to increase coal output: Coal ministry
The coal ministry on Tuesday said all efforts are being made to further boost output and dispatch of coal, and that production of the dry fuel jumped over 36 per cent in the first half of May. The ministry’s statement comes against the backdrop of certain parts of the country grappling with power outages due to shortage of coal for power plants. “During the first half of May 2022, total coal production increased to 33.94 Million Tonnes (MT) achieving a growth of 36.23 per cent over the production of 24.91 MT during the same period last year,” the ministry said in a statement.
FDA lifts hold on Covaxin’s clinical trials in US
The US Food and Drug Administration which has put on hold the phase 2/ 3 clinical trials of Bharat Biotech’s COVID-19 vaccine Covaxin, in USA, has lifted the pause, according to a statement issued by Ocugen Inc, Bharat Biotech’s partner for the jab in USA and Canada. “We’re extremely pleased that we can proceed with our clinical trials for Covaxin our whole virus inactivated COVID-19 vaccine candidate. The need for delivering an additional, differentiated vaccine option, we believe, remains a priority,” Dr Shankar Musunuri, Chairman, CEO and Co-Founder, Ocugen Inc said.
NIIT Q4 profit rises 45 pc to Rs 67.4 cr
Skills and talent development company NIIT on Tuesday reported a 45 per cent jump in its consolidated profit after tax to Rs 67.4 crore for the quarter ended in March 2022. The company had posted a profit after tax of Rs 46.5 crore in the same period a year ago. The consolidated net revenue of NIIT increased by 35 per cent to Rs 375 crore during the reported quarter from Rs 278.8 crore in the corresponding quarter of 2020-21. For the year ended in March 2022, NIIT posted a 58 per cent rise in its consolidated PAT to Rs 226.2 crore from Rs 143 crore in 2020-21.
Govt considers tax cut on soybean and sunflower oil to cool prices
Government sources stated that it is considering cutting an import levy on soybean and sunflower oils, another step in a series of measures the country has taken to cool surging local prices of food. The government is deliberating whether to reduce the agriculture infrastructure and development cess, which is currently 5%, or abolish it, according to a person familiar with the matter. A final decision may be taken this week, said the person, who asked not to be identified as the information is private. A finance ministry spokesperson was not immediately available to comment.
PM Modi has just concluded his official visit to Japan for the 4th Quad leaders summit in Tokyo, at the invitation of Japanese PM Fumio Kishida. In addition to this, PM held bilateral meetings with the US President, PMs of Japan and Australia: Foreign Secretary Vinay Kwatra
There was an excellent warmth between the leaders during the summit and they all had productive and meaningful discussions that were marked by a cooperative and constructive agenda and a very positive approach to the discussions: Foreign Secretary Vinay Kwatra.
Quad launches new maritime domain awareness initiative
We welcome a new maritime domain awareness initiative, the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA), designed to work with regional partners to respond to humanitarian and natural disasters, and combat illegal fishing. IPMDA will support and work in consultation with Indo-Pacific nations and regional information fusion centers in the Indian Ocean, Southeast Asia, and the Pacific Islands by providing technology and training to support enhanced, shared maritime domain awareness to promote stability and prosperity in our seas and oceans. IPMDA embodies what the Quad stands for: catalyzing our joint efforts towards concrete results that help to make the region more stable and prosperous, said the Quad statement.
Sebi issues Rs 3.12-cr demand notice to NSE’s ex-boss Chitra Ramkrishna
Capital markets regulator Sebi on Tuesday sent a notice to NSE’s former chief Chitra Ramkrishna asking her to pay Rs 3.12 crore in a case related to governance lapses at the stock exchange, and warned of arrest and attachment of assets and bank accounts if she fails to make the payment within 15 days. The notice came after Ramkrishna failed to pay the fine imposed on her by the Securities and Exchange Board of India (Sebi).
Kerala to conduct special vaccination drive for children
The Kerala Health Department is gearing up to conduct a three-day COVID-19 vaccination drive exclusively for children from May 25. The objective of the drive was to vaccinate as many children as possible in view of the reopening of the schools next month after summer vacation, state health minister Veena George said on Tuesday. It is being organised in collaboration with schools, residents’ associations and volunteer groups, she said adding that children can receive the shots in all major hospitals by registering in the COWIN portal or through spot registration at the respective centres.
Puducherry logs seven new COVID-19 cases
Puducherry logged seven fresh COVID-19 cases in the last 24 hours taking the overall caseload to 1,65,843, a senior official of the Department of Health said. The union territory continued to record zero fatalities as the cumulative death toll remained at 1,962. The seven new infections were detected at the end of the testing of 1,519 samples in the last 24 hours ending 10 AM on Tuesday, Director of Health G Sriramulu in a release here.
Akhilesh slams UP govt over crime, CM recalls Mulayam’s remark on rape
In a face-off with Samajwadi Party president Akhilesh Yadav in the Uttar Pradesh Assembly on law and order, Chief Minister Yogi Adityanath on Tuesday recalled SP founder Mulayam Singh Yadav’s “boys will be boys” remark on rape. Opposing death penalty for rape, Akhilesh Yadav’s father and Samajwadi Party patriarch Mulayam Singh Yadav had purportedly said at a rally,”Ladke, ladke hain. Galti ho jati hai (Boys will be boys. Mistakes happen sometimes)”.
In Assam, 18 people lost their lives due to floods but State CM is worried about Madrasas. People of Madrasas fought against the Britishers. Madrasas teach science, math & other subjects. They (BJP) just have hate for Islam & Muslims: AIMIM Chief Asaduddin Owaisi
Stock market slump unsettling Americans eying retirement
Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working. A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s. The S&P 500, the benchmark for many index funds, is down about 17% since its all-time high in early January.
Venus Pipes shares rally nearly 9% in debut trade
Shares of Venus Pipes & Tubes jumped nearly 9 per cent on the first day of trading on Tuesday against the issue price of Rs 326. The stock listed at Rs 335, a rise of 2.76 per cent on the BSE. Shares of the company gained 7.89 per cent to settle at Rs 351.75 apiece. On the NSE, shares of the firm opened at Rs 337.50, up 3.52 per cent. It ended at Rs 354.35 apiece, a gain of 8.69 per cent. The Initial Public Offer (IPO) of Venus Pipes and Tubes was subscribed 16.31 times earlier this month.
200 bodies found in Mariupol as war rages in Ukraine’s east
Workers digging through rubble found 200 bodies in Mariupol, Ukrainian authorities said Tuesday, another grim discovery in the ruined port city that has seen some of the worst suffering of the 3-month-old war. The bodies found in the basement of a collapsed apartment building were in a state of decomposition and a stench permeated the neighbourhood, said Petro Andryushchenko, an adviser to the city’s mayor.
Germany orders 40,000 vaccine doses as precaution for monkeypox spread
Sensex, Nifty witness choppy trade; HDFC, Reliance climb
The Indian stock market witnessed choppy trade on Tuesday with the benchmark Sensex trading 82 points higher in the afternoon session led by good buying support in the index heavyweight Reliance Industries and HDFC. The 30 stock S&P BSE Sensex was trading 82.48 points or 0.15 per cent higher at 54,371.09 points at 12.28 pm against its previous day’s close at 54,288.61 points. The markets witnessed a choppy session. The Sensex started the day in the positive at 54,307.56 points and slumped to a low of 54,021.27 points in the morning session. The index rose to a high of 54,463.13 points at around noon.
PM Modi, Biden discuss ways to strengthen ties in defence, technology
Prime Minister Narendra Modi held wide-ranging talks with US President Joe Biden in Tokyo on Tuesday and discussed ways to strengthen cooperation in trade, investment, technology, defence and people-to-people ties between the two countries. The talks took place shortly after the leaders of the Quad nations–Australia, India, Japan, and the United States–met for the fourth time and the second time in person. “Advancing Comprehensive Global Strategic Partnership Warm & wide-ranging talks held between PM @narendramodi and @POTUS @JoeBiden on bilateral, regional & global matters. Leaders noted with satisfaction the frequency of bilateral dialogues and engagements across levels,” External Affairs Ministry Spokesperson Arindam Bagchi said in a tweet.
Japan says China, Russia jets flew nearby as Quad met (AFP)
We are proud of Punjab CM Bhagwant Mann who immediately removed his minister found involved in corruption: AAP chief Arvind Kejriwal (PTI)
Oil Minister Hardeep Singh Puri says crude at $110 a barrel not sustainable
Will not spare even our leaders if involved in corruption: Delhi CM Arvind Kejriwal after AAP govt in Punjab sacks minister over corruption (PTI)
India is producing enough wheat for domestic consumption: Piyush Goyal
Food inflation in India is at a manageable level: Piyush Goyal at Davos
Quad unequivocally condemns terrorism; denounces 26/11, Pathankot attacks (PTI)
Shri Krishna Janmabhoomi case
- A copy of the Allahabad HC order directing the disposal of pleas related to the Shri Krishna Janmabhoomi-Shahi Idgah Mosque dispute within four months was submitted to a Mathura court.
- The Allahabad High Court on May 12 has directed the lower court concerned to decide within four months the temporary injunction application.
- The copy of the order was submitted in the court of civil judge (senior division).
In 15-18 years age group, over 80 pc got first dose of Covid vaccine: Union Health Minister Mansukh Mandaviya
Polarisation damaging foundations of India’s growth: Kaushik Basu (PTI)
WHO chief to be confirmed for 2nd term after no opposition (AP)
Housing prices rise up to 11pc across 8 cities in Jan-Mar
- Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period.
- Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
- Housing prices in Bengaluru, Chennai and Mumbai Metropolitan Region (MMR) rose by 1 per cent each at Rs 7,595, Rs 7,107 and Rs 19,557 per square feet, respectively.
Quad nations warn against ‘change by force’ with eyes on China (AFP)
Airbnb to shut domestic business in China from July 30
- Vacation rental firm Airbnb Inc said on Tuesday it will shut down all listings and experiences in mainland China from July 30, joining a long list of Western internet platforms that have opted out of the China market.
- The company made the announcement in a letter posted to its official WeChat account addressed to its Chinese users without elaborating on the reasons behind the decision.
WEF: Piyush Goyal meets global leaders, pitches India among best investment destinations (PTI)
Mini Defence Expo in Kolkata from July 6-9
- A mini Defence Expo will be held for the first time in Kolkata from July 6 to 9, Eastern Army Commander Lt Gen RP Kalita said on Tuesday.
- The event will give an opportunity to the start-ups and MSMEs to showcase their products, he said.
- “From July 6 to 9, we are planning to hold a mini Defence Expo in Kolkata,” GOC-in-C, Eastern Command, Kalita said at a programme.
Vijay Singla arrested after being sacked from Punjab Cabinet (PTI)
Vijay Singla arrested shortly after being sacked from Punjab Cabinet on corruption charges: Official source (PTI)
Sugar exports
India to limit sugar exports in new risk to global food prices
US reports over 107,000 child Covid cases in a week
- More than 107,000 child Covid-19 cases were reported in the US during the past week, up by about 72 per cent from a fortnight ago, a latest report has revealed.
- The report by the American Academy of Pediatrics (AAP) and the Children’s Hospital Association said this was the sixth consecutive weekly increase in child Covid cases, reports Xinhua news agency.
Indonesia to replace cooking oil subsidy with price rules on its raw materials: Official
India on top for trust in domestic companies: Study
Indian companies have emerged as the most trusted by the domestic population, followed by China, Canada, the US and the UK, according to a new study.
Japan’s former PM Yoshihide Suga meets Prime Minister Narendra Modi in Tokyo
WHO on Monkeypox
- WHO says to this date, we have seen 131 confirmed cases & 106 suspected cases of Monkeypox in 19 different countries
- WHO says Monkeypox containable, convening research meeting to support member states
UAE T20 League signs long-term global media rights contract with Zee
- The league will air exclusively on Zee’s linear channels & Zee5 in India and across the world
- UAE’s T20 League matches will air across ZEE’s 10 linear channels in the HSM (Hindi Speaking Markets), South and East regions in English, Hindi, and Tamil languages. The League will also be simultaneously streamed Live on ZEE5, and on radio globally.
Punjab CM sacks state’s Health Minister Vijay Singla
Punjab CM Bhagwant Mann sacks state’s Health Minister Vijay Singla following complaints of corruption against him. He was demanding a 1% commission from officials for contracts. Concrete evidence found against Singla
Slovenia reports first case of suspected monkeypox infection
Money laundering: ED records statement of Chitra Ramkrishna
The Enforcement Directorate has recently recorded the statement of former NSE managing director and chief executive officer Chitra Ramkrishna, lodged inside Delhi’s Tihar jail, as part of a money laundering investigation against her and others
Qutub Minar row
Temple cannot be revived at protected monument site, ASI tells Delhi court
At least 15 flights have been diverted to Jaipur, Lucknow, Varanasi, Ahemdabad and Chandigarh due to bad weather in Delhi last night: Delhi Airport sources
Kejriwal flags-off 150 electric buses today
Commuters will get to travel free of cost in Delhi Transport Corporation’s electric buses for three days starting May 24. The move is aimed at encouraging people to promote e-buses. Chief Minister Arvind Kejriwal flags-off 150 electric buses today from the Indraprastha Depot.
Turkish lira
Turkish lira weakens to its lowest level against the US dollar since the 2021 currency meltdown (Bloomberg)
Taliban to sign agreement with UAE on airport operations
The Taliban administration will sign an agreement with the United Arab Emirates to share responsibility for operating airports in Afghanistan, the group’s acting deputy prime minister said.
Justice Sabina will be performing the duties of the Chief Justice of Himachal Pradesh High Court w.e.f May 25 following retirement of the Justice Mohammad Rafique, the current chief justice of the court
Delhi HC seeks reply of Delhi Police on plea by Punjab Police to quash FIR for allegedly abducting BJP leader Tajinder Pal Singh Bagga (PTI)
Gyanvapi Mosque case: Verdict today
The Varanasi district court is likely to pronounce the verdict in the Gyanvapi mosque case today. The district court on Monday completed the hearing of arguments in the case and reserved its order for today.
Terror funding case
- Maharashtra ATS detains one suspect in a terror funding case. He will be produced before a Special Court in Pune today.
- The detained accused, Junaid, an Indian national, residing in Pune and was connected to LeT’s terror network. His specific role was to recruit terrorists for LeT
Congress chief Sonia Gandhi sets up political affairs group to advise her on key issues as announced during Chintan Shivir in Udaipur
KPMG fined 4.5 million pounds over Rolls-Royce audit (Reuters)
Grant of mining leases
Supreme Court directs Jharkhand High Court to decide on the maintainability of the public interest litigations seeking inquiry against Jharkhand CM Hemant Soren and others
Assam flood: Death toll rises to 25, 6.5 lakh hit
The flood situation in Assam has slightly abated even though the death toll rose to 25 as one more person died and over 6.5 lakh people remained affected by the deluge across 22 districts.
Japan, US, India, Australia to invest $50 billion in Indo-Pacific: Kishida
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