LIVE: Rajasthan Governor issues order to convene session from August 14

The five French Rafale fighter jets touched down at Haryana's Ambala today. Stay tuned for latest news live updates

Latest news today live updates: The five French Rafale fighter jets touched down at Haryana's Ambala after covering a distance of nearly 7,000 km to join the Indian Air Force. The jets were given a customary water salute upon their arrival at the airbase, some 220-km from the India-Pakistan border.

The formal induction ceremony of the aircraft would be held later. The aircraft would move out soon to another operational base for operational sorties. The Rafale jets, India's first major acquisition of fighter planes in over two decades, are expected to significantly boost the Indian Air Force's combat capabilities.

The Ashok Gehlot Cabinet on Wednesday cleared another proposal to be sent to the Governor for summoning the assembly, saying the session should begin on August 14. Government sources argued that this meets the 21-day notice requirement on which Governor Kalraj Mishra was insisting.

The Cabinet is counting the days from July 23, when it made its first proposal. Earlier, the government wanted the session from July 31.

The Union Cabinet on Wednesday approved the new National Education Policy (NEP) and renamed the HRD Ministry as Education Ministry, officials said.
 

Stay tuned for the latest news of the day

2:36 AM

PM Modi to meet chiefs of all financial sector regulators on Thursday

Prime Minister Narendra Modi will on Thursday meet the chiefs of all financial sector regulators including Reserve Bank of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority and Insurance Regulatory and Development Authority of India.

Finance Minister Nirmala Sitharaman, Commerce Minster Piyush Goyal and Roads and Highways Minister Nitin Gadkari will also be a part of the meeting, scheduled to be held through video conferencing.

 

The meeting is likely to focus on economic revival, particularly the steps taken in the field of MSMEs. The meeting comes a day after the prime minister met bankers.

2:35 AM

Unlock 3: Night curfew ends, no schools till August 31, gyms can reopen

The Centre on Wedenesday issued fresh guidelines as part of ‘Unlock 3’ — the Covid-19-related lifting of restrictions — which scrapped night curfew and allowed gyms and yoga institutes to reopen from August 5.

 

The goverment ignored demands by cinema hall owners for reopening. Theatres, bars, and places of congregation will also remain shut.

 

As part of ‘Unlock 2’, night curfew was in place from 10 pm to 5 am. This has now been done away with. The move will allow shops, malls, and other establishments to remain open after 10 pm, but not many in the industry were enthused by the relaxation given the poor sales. Other restrictions continue, at least till August 31. READ MORE

2:34 AM

Jeff Bezos, Mark Zuckerberg, Elon Musk made $115 billion this year

The message from Jeff Bezos: Big Tech’s not so powerful. The message is from his personal fortune: Oh yes, it is.

 

As Bezos and three other technology magnates prepare to defend their businesses at a Congressional hearing on antitrust worries on Wednesday, their fast-growing wealth provides a breathtaking measure of their companies’ economic might. The Amazon.com founder has seen his net worth soar by $63.6 billion this year. On one day this month, it leaped an unprecedented $13 billion. The world’s richest man is now on the cusp of another record: a fortune exceeding $200 billion, according to the Bloomberg Billionaires Index.

 

Another CEO set to testify, Mark Zuckerberg of Facebook, has grown $9.1 billion richer this year.

12:53 AM

Indian Museum organises online exhibition on International Tiger Day

On the International Tiger Day on Wednesday, the Indian Museum organised an online exhibition portraying various artefacts, paintings and objects associated with the majestic beast.

 

Photographs of objects depicting the big cat in various poses from the collection of Indian Museum were displayed at the online exhibition, a museum spokesman said.

12:50 AM

Wall Street adds to gains after Fed vows more support to US economy

US stocks added to gains on Wednesday after the US Federal Reserve repeated a pledge to use its "full range of tools" to support the economy for as long as it takes to recover from fallout of the pandemic.

 

At the end of its two-day policy meeting the Fed said it maintained its interest rate target range until it is confident the economy has weathered the virus and is on track to achieve its maximum employment and price stability goals.

 

"This was pretty much as expected. The key statement will be in September when they give some forward guidance," said Stan Shipley, Evercore ISI macro research analyst in New York.

11:53 PM

Fed pledges to keep rates near zero

The Federal Reserve on Wednesday repeated a pledge to use its "full range of tools" to support the US economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak, saying the path of the economy will depend significantly on the course of the virus. Read more here

11:49 PM

Big Tech tangles with Washington lawmakers in antitrust showdown

A much-anticipated congressional hearing featuring the CEOs of four of America's largest tech firms kicked off on Wednesday afternoon in a confrontation that promises a healthy dose of political theater, while also offering a window into the thinking of lawmakers trying to rein in Big Tech.

 

Facebook Inc's Mark Zuckerberg, Amazon.com Inc's Jeff Bezos, Alphabet Inc -owned Google's Sundar Pichai and Apple Inc's Tim Cook - who together represent about $5 trillion of the US economy - are appearing via videoconference before the House Judiciary Committee's antitrust panel.

 

President Donald Trump, who has clashed with several of the biggest tech companies, on Wednesday threatened to take action against them.

11:19 PM

Defended Rafale deal as did not want it go the Bofors way: former IAF Chief B S Dhanoa

Former Chief of Air Staff B S Dhanoa on Wednesday welcomed the arrival of Rafales in India and said he defended the deal to procure the multi-role jets notwithstanding the political controversy to stop it from going the Bofors way.
 

The alleged pay-offs in procurement of a batch of Bofors guns in mid-1980s and its subsequent political ramifications had severely crippled defence procurement as bureaucrats were apprehensive of taking decisions on military purchases.
 

"I defended the deal as I did not want it to go the Bofors way. We were against politicisation of the defence acquisition process. It was a question of capability of the Air Force," Air Chief Marshal (retd) Dhanoa told PTI.

11:14 PM

Pak govt gets two FATF-related bills passed through National Assembly amid opposition protest

11:14 PM

Deutsche Boerse second quarter net profit drops 4%

German exchange operator Deutsche Boerse on Wednesday said it posted a 4 per cent fall in second quarter net profit, coming in below expectations, but left its guidance for the year unchanged.

 

Net profit attributable to shareholders was 256.7 million euros ($302.26 million), down from 266.9 million euros a year ago, the company said. Analysts had expected an increase in profit.

11:12 PM

We are working to create an education system where students learn to become job providers, not job seekers: Kejriwal

11:09 PM

National Education Policy evokes mixed reactions among academicians

The new National Education Policy evoked mixed reactions among academicians on Wednesday with some hailing it as a "groundbreaking" action plan that promotes holistic and multi-disciplinary learning and others arguing that it will pave the way for privatisation of education.

 

A single regulator for higher education institutions, multiple entry and exit options in degree courses, discontinuation of M.Phil programmes, low stakes board exams, common entrance exams for universities are among the highlights of the National Education Policy (NEP) 2020 approved by the Union Cabinet on Wednesday.

 

Former Delhi University vice-chancellor Dinesh Singh, who was an official reviewer of the document when it was being formulated, said the policy lays down the road map pretty nicely.

10:28 PM

'Modinomics' destroyed banking sector; delivery, not televised dialogues the way forward: Congress

10:28 PM

Troubles abound, Boeing losses bloom to $2.4 billion in Q2

Boeing lost $2.4 billion in the second quarter and the company will slow production and cut more jobs as demand for commercial aircraft shrinks during the coronavirus pandemic.

 

The loss was far worse than Wall Street expected; so was the decline in revenue, which fell 25 per cent.

 

"The reality is the pandemic's impact on the aviation sector continues to be severe," CEO David Calhoun said. He said airlines are delaying purchases, slowing down deliveries and deferring elective maintenance, "all of which affects our business and, ultimately, our bottom line."

 

Calhoun said it will take around three years to return to 2019 passenger levels.

10:22 PM

88 per cent Indian workforce prefers Work From Home flexibility, manual finance processes cause Rs 16,000 cr loss