UNION
Union Minister K Rammohan Naidu praises 'Modinomics' for India's economic growth at CII Summit
Union Minister K Rammohan Naidu emphasised India's economic growth during the 31st CII Partnership Summit in Visakhapatnam. He attributed this growth to the leadership of Prime Minister Narendra Modi, coining the term 'Modinomics'. Naidu highlighted the transformation in global economic landscapes and emphasized India's potential with its young population and innovation capabilities. He mentioned the civil aviation ministry's extension of the UDAAN scheme aimed at enhancing connectivity.
CII summit puts spotlight on Naidu's importance as key NDA ally, Centre's show of strength
The CII Partnership Summit is scheduled for November 12-13 in Visakhapatnam, featuring key Union ministers and the Vice-President of India. This event aims to solidify N Chandrababu Naidu's role as a crucial ally of the NDA. Naidu will deliver the keynote address while discussions will focus on various economic issues. Ministerial participation will showcase potential investment opportunities in Andhra Pradesh.
Credit guarantee fund for small units extended by five years
The Union Cabinet has approved a five-year extension for the Credit Guarantee Fund for Micro Units and the Stand-Up India scheme. An allocation of ₹5,000 crore will support micro units, while ₹4,111 crore funds will assist Stand-Up India initiatives. The Cabinet also approved an 8.5 km extension of the Noida-Greater Noida Metro corridor to improve connectivity. Eligible borrowers can access loans for new enterprises to promote economic growth and entrepreneurship.
Cabinet approves Yuge Yugeen Bharat museum in Delhi for Rs 3,230 crore
On Wednesday, the Union Cabinet, led by PM Narendra Modi, approved the creation of a massive museum. This museum, named 'Yuge Yugeen Bharat', will be built in the North and South Block complex in Delhi. It aims to depict the civilizational journey of Akhand Bharat, highlighting its historical and cultural evolution. The project is estimated to cost ₹3,230 crore and preserve the heritage of the historic buildings.
Fraud through calls, messages a global threat: MoS Telecom
Minister of State for Telecom Chandra Sekhar Pemmasani highlighted the threat of fraudulent activities at the ITU Plenipotentiary Conference. He emphasized the importance of trust in technology alongside expanding telecom network coverage. India's fraud alert system has successfully prevented significant monetary losses in recent years. The digital infrastructure in India has seen massive growth, with internet subscriptions reaching over 1.1 billion.
Western Union terminates Intermex deal after approval snag
Western Union has scrapped its agreement to acquire US-based money transfer firm Intermex for about $500 million after failing to secure regulatory approval from California. The company termed the state's final merger conditions unacceptable, saying they would have required material changes to its business model. Neither company will pay a termination fee.
Schengen travel rules to change in 2027 as Europe introduces new ETIAS authorisation
Travellers from visa-exempt countries visiting the Schengen Area will need a new European Travel Information and Authorisation System (ETIAS) approval when the system launches in 2027. The authorisation will not be a visa but will be mandatory for eligible visitors before travel. It will remain valid for up to three years, subject to passport validity, and allow multiple visits within the existing 90-day limit in any 180-day period.
Google agrees to addition privacy protections in Spirit Airlines data sale
The agreement clears the way next week for approval of Google's $10 million deal to acquire Spirit data to train AI models. The union said it had won a more rigorous de-identification process than previously planned and added significant employee data will be excluded from the sale, including health and medical information.
Budget 2027-28: PHDCCI urges govt to scrap LTCG tax on equities, cut STCG tax to 10%
PHD Chamber of Commerce and Industry has made recommendations for the Union Budget 2027-28. They have proposed abolishing long-term capital gains tax and reducing short-term capital gains tax rates. The chamber has also called for relaxed loan repayment norms and higher loan limits for MSMEs. They highlighted the economic significance of MSMEs in India's GDP and employment. Improved access to credit and equity support could enhance India's global manufacturing position.
Two Trades for Today: Two large-cap PSU banks, one for a gain of 7.6%, and the other for a 6% rise
Our technical analysts identify select stocks every trading day that may gain momentum even in volatile markets. Here are the technical calls for today.
Session Unprorogued for Record 88 Days: Congress
Congress has noted the current monsoon session of Parliament has lasted a record 88 days. They accused Union home minister Amit Shah of trying to manipulate support for the delimitation bill. Congess spokesperson Jairam Ramesh expressed confidence in a united Opposition against the bill if Shah uses aggressive tactics. Additionally, Pawan Khera clarified a controversial remark made by Mallikarjun Kharge regarding festivals.
European Union sues IBM and two European companies over troubled border system: Report
The European Union has initiated legal proceedings against IBM, Atos, and Leonardo for delays in the Entry/Exit System. EU-Lisa reported these delays occurred during the system's development, not affecting its operation. The consortium was awarded a contract in 2019 for implementation and maintenance. In a letter from October 2021, the companies contested a fine imposed on them. They cited external factors like the COVID-19 pandemic as reasons for the delays.
Suresh Gopi says Karnataka, Kerala free to test petrol for ethanol content, warns against politicising issue
Union Minister of State for Petroleum and Natural Gas Suresh Gopi said Karnataka and Kerala were free to test petrol samples for ethanol content but cautioned against politicising the issue. His remarks followed Karnataka's claim of detecting higher ethanol levels in petrol and Kerala's decision to conduct similar tests.
Karnataka, Keralam free to test petrol for ethanol content, but don't politicise it: Suresh Gopi
Union Minister of State Suresh Gopi emphasized the freedom of Karnataka and Keralam governments to conduct petrol tests. He also mentioned that the Centre has scientific backing for its ethanol blending policy. Gopi explained that a 20 percent ethanol blending in petrol has been approved and will be implemented gradually. The Minister cautioned against politicizing the tests, as it may lead to unnecessary controversies.
France braces for protests on Saturday as Yellow Vests urge 'mass disobedience'
French unions, student groups, and the Yellow Vests movement are preparing for protests in Paris on Saturday. The protests aim to address the increasing cost of living while demanding improvements in wages and living conditions. Authorities are set to deploy 70,000 police officers to manage the demonstrations, which follow recent unrest. The protests will also focus on issues impacting young people and pensioners across the nation.
INDIA bloc aims to spread anarchy, bring Bangladesh-like regime change: Union Minister Sukanta Majumdar
Union Minister Sukanta Majumdar accused the INDIA bloc of attempting to undermine constitutional provisions regarding electoral rolls. He stated that allegations of irregularities in the Special Intensive Revision are unsubstantiated and misleading. Majumdar emphasised the historical context of numerous such revisions occurring under Congress rule. He highlighted that significant voter name deletions include shifts, duplicates, and deceased individuals.
Woman becomes first AMU students' union vice-president in 105-year history
In a groundbreaking development, women candidates have triumphed in the AMUSU elections, securing six out of thirteen positions. Famous for her landmark achievement, Nashra Naim has become the first female vice-president of the student union. These elections, which resumed after an eight-year break due to protests, were marked by a peaceful atmosphere.
Mass protests sweep France as huge crowds demand higher wages, back students' demands
France witnessed a wave of protests advocating for increased wages and student rights, drawing attention from both unions and political leaders. The Interior Ministry estimates around 600,000 participants, while unions claim nearly 1.6 million people took part in these demonstrations. Disruptions in schools and public transport were rampant, as blockades and strikes organized by students and workers unfolded.
Union Minister Hardeep Singh Puri elected unopposed to Rajya Sabha from Madhya Pradesh
Hardeep Singh Puri has been elected unopposed to the Rajya Sabha from Madhya Pradesh after other candidates were rejected. The nominations of Rajkumar Lohand Kante Sayanna were invalidated due to signature requirements. Another candidate, Rajkumar Lohani, failed to submit a necessary affidavit by the deadline. Puri's election certificate was received by Bharatiya Janata Party state president Hemant Khandelwal. The seat became vacant after the resignation of Union Minister L Murugan.
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