Boeing to supply Harpoon missiles to India from US

The Unites States Department of Defence has given a USD 81 million contract to Boeing for the supply of all-weather, over-the-horizon, Harpoon anti-ship missiles to India. According to the contract details, Boeing has been awarded USD 81,271,024 for firm-fixed-price modification to a previously awarded firm-fixed-price contract to exercise an option for the procurement of 22 Lot 89 Harpoon missiles, associated containers and components for the Government of India under the Foreign Military Sales program. The missiles will be manufactured at several places in the United States, with the majority of…

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GST threshold fixed at Rs 20 lakh, rate to be decided in Oct

In a big step forward on GST implementation, the Centre and states today reached an agreement on keeping traders with annual revenue of up to Rs 20 lakh out of the new national sales tax regime that will subsume all cesses. While the two sides, at the meeting of the GST Council, agreed on the contentious issues of revenue threshold – below which traders will be exempted from GST, and sharing of administrative powers, the all crucial GST rates will be decided in the meeting to be held on October…

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Cauvery row: PM pained over violence in K’taka, TN

Prime Minister Narendra Modi today expressed pain over the developments in Karnataka and Tamil Nadu over the Cauvery water dispute and appealed for peace while underlining that violence cannot provide solution to any problem. He asserted that the dispute can only be solved within the legal ambit and “breaking the law is not a viable alternative”. “Situation that has emerged in Karnataka & Tamil Nadu, as a fallout of issue of distribution of waters of Cauvery River, is distressful.I am personally pained at the developments,” he said in a statement….

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Indian-origin businessman joins business commission

A Singapore-based Indian-origin businessman Sunny Verghese has become a member of the Business and Sustainable Development Commission, which will help accelerate sustainable growth in agri-business. Verghese, Co Founder and CEO of Singapore’s agri-business group Olam International Limited, joins roster of leaders from the private sector, academia and civil society, who are committed to accelerating the world’s transition to inclusive and sustainable growth. The Business Commission’s mission is to make a powerful case, supported by sound evidence, rigorous research and compelling real-world examples, for why business leaders should seize upon sustainable…

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Clinton diagnosed with pneumonia, cancels California trip

Democratic presidential candidate Hillary Clinton has been diagnosed with pneumonia after she fell ill during a ceremony marking the 15th anniversary of the 9/11 attacks here, forcing her to cancel a trip to California to attend fundraising events. Clinton, 68, has been advised rest and to modify her schedule, as concerns over her health grew after she abruptly left the 9/11 commemoration ceremony at the memorial in Ground Zero in lower Manhattan yesterday from feeling “overheated”. Her doctor Lisa Bardack released a statement yesterday saying the former Secretary of State…

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Sensex tanks 546 pts on global sell-off over Fed rate concern

Market benchmark Sensex nosedived by almost 546 points to 28,251.31, while Nifty broke below the 8,700-level in the opening trade today on heavy selling after revived speculation about a possible US rate hike. Moreover, the rupee depreciating by 25 paise to 66.93 against the dollar in opening trade at the forex market also had a bearing on the sentiment. Investors also turned cautious ahead of macroeconomic data – IIP for July and inflation data for August – scheduled to be released later in the day. Consequently, the Sensex plunged by…

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Rupee falls 25 paise against dollar in early trade

The rupee weakened by 25 paise to 66.93 against the dollar in early trade at the Interbank Foreign Exchange market on Monday, falling for the third straight session, as the dollar firmed up against some currencies overseas amid a lower opening in the domestic equity market. Forex dealers said apart from sustained demand for the American currency from importers, foreign fund outflows and dollar’s gains against other currencies overseas, also weighed on the rupee. On Friday, the local currency had plummeted by 26 paise to end at 66.68, posting its…

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Will continue to work for India’s NSG membership: US

The US has said it will continue to work “constructively” with New Delhi and other countries for India’s entry into NSG, a senior US official has said. “We continue, and will be, continued to work constructively with India and with members of the Nuclear Suppliers Group (NSG) on India’s accession in the months ahead,” State Department spokesperson Elizabeth Trudeau told reporters at her daily news conference yesterday. However, she did not respond to questions on the talks the US is having with China on this issue. China is the only…

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Coast Guard providing security for Ganesh immersion in Mumbai

Coast Guard is undertaking Operation Utsav to provide seaward security and safety cover to people during Ganesh Visarjan days. The cover was in force during visarjan days on September 6 and 9 and will be in force tomorrow and September 15-16. Coast Guard Regional Headquarters (West), Worli is deploying Fast Patrol Vessel, Interceptor Boat, Hovercraft and Helicopter on random patrol off Mumbai coast. This is for being extra vigilant and provide surveillance against seaward threats and assisting civil authorities during Ganpati Visarjan, a CG official said. The operation forms part…

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Rupee slips 13 paise against dollar in early trade

The rupee today lost 13 paise to 66.55 against the US dollar in early trade at the Interbank Foreign Exchange market on increased demand for the American unit from importers and banks. Besides, strength in the dollar against some other currencies overseas also weighed on the domestic currency. Dealers attributed the rupee’s fall to increased demand for the US currency and a lower opening in the domestic equity market. On Thursday, the rupee had closed at 66.42 against the US dollar, ending a 6-day winning streak due to mild demand…

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