Latest News LIVE: Will ensure safe return of Kulbhushan Jadhav, says MEA

The Donald Trump administration has formally notified the United Nations of its decision to withdraw the US from the WHO. Stay tuned with Business Standard for the latest news of today

The Chinese military removed temporary infrastructure and continued gradual withdrawal of troops from face-off sites in Hot Springs and Gogra in eastern Ladakh for a second consecutive day on Tuesday. The Indian Army, meanwhile, was keeping a strict vigil on its rearward movement. The disengagement process, which began on Monday, is expected to be completed by today.

Meanwhile, Nepalese lawmaker Sarita Giri was sacked by Janata Samajbadi Party (JSP) on Tuesday for defying its decision to unanimously endorse the constitutional amendment to revise the country's map to include three strategically key Indian territories.

In the US, the Donald Trump administration had formally notified the United Nations of its decision to withdraw the country from the World Health Organization, officials said, breaking off ties with the global health body amid the expanding coronavirus pandemic.

On the business front, ICICI Bank's board will meet today to discuss a proposal to raise funds by issuing equity shares to strengthen its financial position.

Stay tuned for the latest news of the day

2:53 AM

An external audit points out Facebook fails to protect civil rights

Facebook Inc's decisions to allow controversial posts by President Donald Trump established a "terrible precedent" that could allow the platform to be "weaponized to suppress voting," an external civil rights audit found on Wednesday.

 

The report, which Facebook commissioned two years ago, said the social network has not done enough to protect users from discrimination, falsehoods and incitement to violence, adding to pressure on the company in the midst of an advertiser boycott.

2:52 AM

Trump says he's considering a ban on short video app TikTok in the US

Trump said his administration is considering banning the short video app TikTok in the US as a possible way to retaliate against China over its handling of coronavirus. “It’s something we’re looking at, yes,” Trump said when asked in an interview with Gray Television’s Greta Van Susteren about Pompeo’s remarks.

2:52 AM

Startup funding down 29% in first half of 2020 amid Covid-19 crisis: Tracxn

Startup funding activity decreased by 29 per cent in the first six month of this year to $4.2 billion compared to $5.9 billion in the same period last year, due to the impact created by the coronavirus pandemic, according to data analytics firm Tracxn. Only 443 companies were funded in the January-June period this year against 725 in H1, 2019, according to ‘India Tech Semi-Annual Factsheet’, compiled by Tracxn.

 

In the same period, three unicorns or startups valued at more than $1 billion (each) emerged compared to six last year. These were kids and baby products online retailer FirstCry, fintech company Pine Labs and online beauty and wellness retailer Nykaa. Also, there were 17 soonicorns or companies which hold the potential to become a unicorn in the near future against 28 last year.

2:51 AM

Cipla set to undercut rivals with low-priced generic remdesivir: Report

Indian drugmaker Cipla Ltd has priced its generic version of Remdesivir, Cipremi, at 4,000 rupees ($53.34) per 100 mg vial, according to several sources, making it among the lowest priced versions of the Covid-19 treatment available so far globally.

 

Cipla had earlier said pricing would not exceed 5,000 rupees. On Tuesday, Sovereign Pharma, which is manufacturing and packaging the drug for Cipla, said it had dispatched the first batch.

1:08 AM

UK gets creative: Job bonus and eating out schemes announced

The British government unveiled a raft of measures Wednesday it hopes will limit an anticipated spike in unemployment as a result of the coronavirus pandemic.

 

Most noteworthy were a new bonus plan aimed at getting firms to retain workers that have been idle for months, as well as tax cuts for hard-pressed firms in the tourism and hospitality sectors and a new Eat Out to Help Out discount scheme.

 

Treasury chief Rishi Sunak said his latest major intervention is aimed at weaning the U.K. economy off emergency measures announced when the country was put into lockdown in March, while at the same time protecting and generating as many jobs as possible during the recession.

11:43 PM

Venkaiah Naidu reviews Monsoon Session planning

Rajya Sabha Chairman M Venkaiah Naidu Wednesday reviewed the seating arrangements for parliamentarians during the Monsoon session of Parliament and their participation in the midst of the coronavirus pandemic.

 

At an hour-long meeting with the Secretary General and senior officials of the Rajya Sabha Secretariat, Naidu discussed practices to be adopted for the seating arrangement, sources said.

 

These broad principles and practices, including virtual participation of members, will be firmed up soon after discussions between Naidu and Lok Sabha Speaker Om Birla, the sources said.

11:32 PM

15th Finance Commission holds virtual conference to discuss union govt's revenue projections

11:32 PM

Defence Minister likely to inaugurate key border infra projects on Thursday

11:22 PM

Govt should move ICJ in Jadhav case: Congress

The Congress Wednesday urged the government to step up international pressure on Pakistan and move the International Court of Justice to enable Indian death-row convict Kulbhushan Jadhav to file a review petition against his death sentence.

 

Party spokesperson Abhishek Singhvi said one cannot expect anything from Pakistan.

 

"We have to put our faith in the Indian government. It must go flat out to ensure legal rights are granted to Kulbhushan Jadhav," he said.

 

"They (Government of India) should move heaven and earth, they should make applications in the ICJ, the matter has not ended. They should create an adverse public opinion globally that how can a man who is defenceless not be allowed to exercise these rights," he added.

10:57 PM

Veteran actor Jagdeep passes away at 81

10:56 PM

Indian Army has asked its personnel to delete 89 apps from their smartphones

10:56 PM

BJP leader, father and brother shot dead by militants in J&K

A BJP leader, his father and brother were shot dead by militants in Jammu and Kashmir's Bandipora district Wednesday night, DGP Dilbagh Singh said.
 

Militants opened fire on Wasim Ahmad Bari, BJP district president, outside his shop near police station Bandipora at around 9 pm, he said.
 

Singh said Bari's brother Umar and father Bashir Ahmad were injured in the firing.

 

10:26 PM

Saudi, Briton join race for top WTO post as deadline looms

Britain and Saudi Arabia put forward late entries for the contest to become the next director-general of the World Trade Organisation, joining six others aspiring to lead the Geneva-based trade body that has faced scorn and pressure from the Trump administration.

 

A Wednesday evening deadline loomed for candidacies to head the WTO after its current chief, Brazil's Roberto Azevedo, made the surprise announcement in May that he would leave the job a year early, citing a personal decision to leave.

 

Saudi Arabia nominated former economy minister and longtime banker Mohammad Maziad Al-Tuwaijri, while Britain announced the candidacy of forward former International Trade Secretary and Brexit proponent Liam Fox.

10:05 PM

India again imposes anti-dumping duty on certain types of measuring tapes imported from China

10:04 PM

Opposition slams dropping of chapter on democracy, secularism; CBSE says syllabus reduced only for this year; Mixed response from academicians