LIVE: Rs 2,000 relief to each household in flood-hit districts of Andhra

Andhra Pradesh CM YS Jagan Mohan Reddy announced Rs 2,000 relief for every household in districts affected by floods. Stay tuned for the latest news of the day

Latest news today live updates: Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Tuesday announced Rs 2,000 relief for every household in districts affected by floods in the Godavari river which has been in spate for the last two days after heavy rains.

PM CARES fund has been constituted with an objective to extend assistance in the wake of public health emergency like Covid-19 and no exception can be taken at this need of the hour in its constitution, the Supreme Court on Tuesday said.

There is no change in the condition of former President Pranab Mukherjee who continues to be on ventilator support, the Army's Research and Referral hospital said on Tuesday. Doctors attending on him said his vital parameters are stable. The 84-year-old former president was admitted to the hospital in Delhi Cantonment on August 10.

The Madras High Court on Tuesday refused to allow reopening of  Vedanta Limited's Sterlite Copper plant at Thoothukudi. The plant was shut down on May 28, 2018.

Stay tuned for the latest news of the day

2:11 AM

World's largest sovereign wealth fund reports $21 bn loss

Norway’s $1.15 trillion sovereign wealth fund posted a loss of $21.27 billion in the first half of 2020 as stocks and real estate holdings fell in value during the Covid-19 pandemic, it said on Tuesday.
 

The decline followed record earnings in 2019, when the fund raked in profits of $180 billion as global stock markets soared. “Even though markets recovered well in the second quarter, we are still witnessing considerable uncertainty,” the fund's deputy chief executive, Trond Grande, said in a statement.
 

The world’s largest sovereign wealth fund holds stakes in some 9,200 companies globally, owning 1.5 per cent of all listed stocks. It also invests in bonds and real estate.

1:07 AM

Democrats' Day 2 focus: Trump's global leadership deficit

A day after Michelle Obama's passion wowed Democrats, Joe Biden is drawing on a collection of his party's most experienced leaders at the Democratic National Convention to underscore what he calls a global leadership deficit that threatens US national security.

 

In addition to the former foreign and domestic policy leaders, Jill Biden will introduce herself to the nation for the first time as the prospective first lady. A longtime teacher, she'll speak from her former classroom at Brandywine High School near the family home in Wilmington, Delaware.

1:07 AM

Oil steadies as demand fears offset high OPEC+ compliance

Oil prices steadied on Tuesday as high compliance with supply cuts from the OPEC+ producer group offset demand fears from the new coronavirus.

 

Brent crude futures rose 9 cents to settle at $45.46 a barrel. US West Texas Intermediate (WTI) crude futures settled flat at $42.89 a barrel.

 

Supporting prices on Tuesday, a technical panel found that compliance with OPEC+ oil output cuts in July was between 95 per cent and 97 per cent, according to a draft report seen on Monday by Reuters.

12:49 AM

Cancer cases in India estimated to be 1.3 million in 2020, may rise to 1.5 million by 2025: Report

12:48 AM

No differences in Bengal BJP, party to fight TMC unitedly: Dilip Ghosh

12:07 AM

14 IAS officers transferred in Rajasthan

Fourteen IAS officers, including two additional chief secretaries, were transferred in Rajasthan on Tuesday night, according to an order of the state Department of Personnel.

 

The order said Additional Chief Secretary Rajeshwar Singh was transferred from the Rural Development and Panchayti Raj Department to the Tribal Area Development Department.

11:55 PM

Flipkart gross merchandise value exceeds pre-Covid-19 level: Walmart

The gross merchandise value (GMV) of Flipkart has exceeded the pre-Covid-19 levels, global retail major Walmart Inc, which owns a majority share of India's leading e-commerce platform, said.

 

Walmart's overall revenue was up 5.6 per cent to $137.7 billion while its international sales were down 6.8 per cent to $27.2 billion in the second quarter, Walmart said in earning statement.

11:42 PM

Shringla meets PM Hasina; discusses issues of mutual interest and post-Covid-19 economic recovery

10:47 PM

Gehlot directs officials to check frauds by credit societies

Chief Minister Ashok Gehlot on Tuesday directed officials to put in place a strong system to protect people from frauds by various credit societies in the state.

 

The chief minister expressed concerns over complaints of multi-state cooperative societies cheating common people in the name of investment.

 

Gehlot instructed the officials to prepare such a system that in future no such cooperative society in the state could cheat poor people in the name of investment. He also stressed on making general public aware of such societies.

9:29 PM

Divest governance of PSBs from govt: Former RBI deputy guv

Former Reserve Bank deputy governor N S Vishwanathan on Tuesday said there is a need to separate governance of state-run banks from the government and pitched for doing away with the nationalisation laws from which the executive derives its powers.

 

Privatisation is a bigger political decision and not an economic one alone, Vishwanathan said, adding that a bank holding company needs to be created first.

 

Vishwanathan, who was head of banking regulation, said the first need is to "divest" governance of the lenders from the government, and suggested doing away with the powers vested with the government under the bank nationalisation laws as a starter. He said having a holding company structure is essential.

9:12 PM

UK, EU resume talks on future ties, as new deadline looms

Negotiations were to resume Tuesday on the future trade ties between the European Union and the United Kingdom after Brexit, with the Europeans insisting that important differences in the two sides' positions must be bridged and an agreement found by October.

 

The UK officially left the EU on January 31, becoming the first country ever to withdraw from the world's biggest trade bloc, but the country remains inside the EU's tariff-free economic zone until the end of the year.

 

The parties disagree on state aid for businesses and on fisheries. The British government remains opposed to EU demands for long-term access to British waters. Both say they want to avoid a no deal scenario that would see tariffs and other restrictions imposed on trade. Four days of talks have been scheduled this week to try to push the negotiations forward.

9:06 PM

Defence Minister Rajnath Singh to address the opening session of the Naval Commanders Conference tomorrow

8:59 PM

Visva Bharati demands CBI inquiry into August 17 campus violence: PTI

8:48 PM

Vistara enters long-haul flights, to operate Delhi-London route for a month

Vistara will operate non stop flights between Delhi and London Heathrow from August 28 to September 30 making a foray in long haul operations.

 

The airline will deploy its brand-new Boeing 787-9 Dreamliner aircraft on the route. The airline received its second 787-9 aircraft recently and is also seeking necessary regulatory approvals to soon operate similar special flights to Paris and Frankfurt.

 

Vistara will compete with Air India, British Airways and Virgin Atlantic for traffic on London-India route. Vistara's one-way fares from Delhi to London start at Rs 29,912 in economy class, Rs 44,449 in premuim economy, and Rs 77,373 in business class, the airline said. READ MORE...

8:31 PM

Govt not bound to transfer funds from PM CARES to NDRF, rules SC

Money collected under the PM CARES Fund for the Covid-19 pandemic need not be transferred to the National Disaster Response Fund (NDRF), the Supreme Court said today, adding that the government is free to transfer money to the disaster response fund if it feels it is appropriate to do so.

 

The court also said there is no need for a new plan and that one under the National Disaster Management Act, made by the government last November, is enough to deal with Covid-19. READ MORE...