LIVE: US adds 4.8 million jobs in June as unemployment falls to 11.1%

Goa Tourism Minister Manohar Ajgaonkar said the coastal state would be opened for tourists starting July 2. Stay tuned with Business Standard for the latest news of today

1:46 AM

Terrorist killed in Jammu and Kashmir's Malbagh encounter, CRPF jawan succumbs to injuries

1:33 AM

Visa lottery winners feel cheated by Trump's visa ban

Noha, an Egyptian engineer, should feel lucky after winning a visa lottery that randomly selects people from a pool of more than 14 million applications for about 55,000 green cards that would let them live permanently in the United States.

 

But the hopes she and her husband had of moving with their two children to New York vanished last week when President Donald Trump extended a ban on many green cards issued outside the United States to the end of the year, including the lottery's diversity visas, which have been issued every year since 1990 to people from underrepresented countries.

 

This year's recipients learned of their good fortune about a year ago, but many had not yet completed the vetting process when American consulates closed in March due to the coronavirus pandemic. Now the administration's latest step to reduce legal immigration has upended their lives, and many find themselves stuck in a worse situation than the one they were trying to escape.

1:32 AM

ED questions Ahmed Patel for 10 hrs on third day in PMLA case

Enforcement Directorate (ED) investigators on Thursday questioned senior Congress leader Ahmed Patel at his residence for about 10 hours during the third round of his grilling in connection with the Sandesara brothers bank fraud and money laundering case probe, officials said.

 

A three-member team of the central agency along with a few other officials reached Patel's 23, Mother Teresa Crescent home in the Lutyens' zone of central Delhi around 11:30 am and left after 10 pm.

 

The team members carried files, wore masks and gloves and were seen sanitising their hands and shoes before beginning the questioning as a precautionary measure in view of the coronavirus pandemic.

 

Patel, while speaking to reporters outside his house, said the investigators put 128 questions to him.

 

"This is a political vendetta and harrasment against me and my family and I do not know under whose pressure they (investigators) are working," he said.

11:56 PM

'People's choice': China hails Russian vote to extend Putin's rule

China said on Thursday that Russia's national referendum on constitutional amendments, which will allow President Vladimir Putin to stay in power till 2036, was a "major event" reflecting Russian people's choice.

 

Nearly 78 per cent of voters in Russia have approved amendments to the country's Constitution that will allow President Putin to stay in power until 2036. Read more

11:44 PM

Eye on China: India to get Rs 38,900-cr defence upgrade amid border dispute

The Ministry of Defence (MoD) has acknowledged the seriousness of the situation in Ladakh, where Indian soldiers are facing off against Chinese intruders, by approving the purchase of weapons and equipment worth Rs 38,900 crore. 

The ministry said procurement from Russia and upgrade of MiG-29s would cost about Rs 7,418 crore, while Hindustan Aeronautics (HAL) would build the Sukhoi-30MKI fighters in Nashik for an estimated Rs 10,730 crore. Read more

 

11:39 PM

Malbagh encounter: 1 terrorist killed, operation on

11:35 PM

Tractor sales rise in June; commercial vehicles segment continues to skid

Timely arrival of monsoon, record rabi crop as well as government support for agri initiatives helped tractor sales grow in an otherwise dull auto market.

Escorts Agri Machinery Segment’s domestic tractor sales in June 2020 was at 10,623, registering a growth of 22.8% against 8,648 tractors sold in the same month previous year.

Sonalika Tractors also said the company had set a new record of domestic sales of 13,691 units in June, registering a 55 per cent growth against industry growth of 23 per cent. Read more

11:21 PM

Swiss restricts entry from 29 countries to prevent Covid-19 resurgence

Travellers to Switzerland from 29 countries will have to register with the authorities and go into self-isolation to prevent a resurgence of the coronavirus, the government said on Thursday. The list includes the United States, Sweden, Brazil and Russia, which have been designated as countries with a high risk of infection. Read more

11:13 PM

KKR to acquire controlling stake in JB Chemicals for about $500 million

Global investment firm KKR to pick up a controlling stake in Mumbai based branded formulations player JB Chemicals. As part of the deal, KKR will acquire the stake from the founding Mody family at Rs 745 per share or a 5 per cent premium to closing price on the BSE and also make an open offer for an additional 26 per cent of the company. The deal size is estimated to be around $500 mn. Read more

11:05 PM

India's GDP likely to contract by 6.4% in FY21, says Care Ratings

Care Ratings on Thursday revised India's GDP growth forecast for the current financial year to (-) 6.4 per cent as economic activity continues to be under restriction due to the lockdown on account of the Covid-19 pandemic.

The rating agency, in May, had projected a decline in GDP growth of 1.5-1.6 per cent in FY21.

It said given that the nation is into a lockdown for July too with several restrictions on resumption of services in particular as well as movement of people, the cutoff date for normalcy will spread into the latter part of the third quarter and more likely to the fourth quarter. Read more

10:56 PM

J&K: Encounter underway at Malbagh area of Srinagar

10:52 PM

Jeff Bezos's wealth soars to record $171.6 billion

Jeff Bezos’s net worth has smashed through its previous peak, even after he relinquished a quarter of his stake in Amazon as part of a divorce settlement last year.

Shares of the retailer surged 4.4 per cent to a record $2,878.70, boosting the founder’s world-leading fortune to $171.6 billion. That tops his previous high of $167.7 billion, set on September 4, 2018, according to the Bloomberg Billionaires Index. Read more.

10:16 PM

US adds 4.8 million jobs in June as unemployment falls to 11.1%

The US has added as many as 4.8 million new jobs in the month of June, bringing down the unemployment rate to 11.1 per cent, latest monthly figures said on Thursday, prompting President Donald Trump to say that the American economy was "roaring back" after being devastated by the deadly coronavirus pandemic.

The unemployment rate declined by 2.2 percentage points to 11.1 per cent in June, and the number of unemployed persons fell by 3.2 million to 17.8 million. In all, 4.8 million jobs were created in June, the US Bureau of Labor Statistics said in its latest monthly report.

10:11 PM

Modi, Putin discuss Covid-19 crisis, vow to boost Indo-Russia ties

PM Modi and Russian President Vladimir Putin discussed the coronavirus crisis \and resolved to strengthen the Indo-Russia ties for jointly addressing the challenges of the post-Covid world.

During a telephonic conversation, the two leaders agreed to maintain the momentum of bilateral contacts and consultations, leading to the annual bilateral summit to be held in India later this year. The prime minister conveyed his keenness to welcome Putin in India for the bilateral summit. Read more.

10:04 PM

Delhi govt to plant 3.1 mn trees to reduce pollution