Ukraine war in focus at India-Nordic talks, twitter courts advertisers amid uncertain future under Musk, RBI raises policy rate at surprise MPC meet, and other top news in this bulletin. India and the five Nordic countries on Wednesday condemned civilian deaths in Ukraine and called for an immediate cessation of hostilities while affirming their support for a rules-based international order. During a summit in Copenhagen between Prime Minister Narendra Modi and his counterparts from Denmark, Iceland, Finland, Sweden and Norway, the six countries discussed the “destabilising effect” of the conflict in Ukraine and its regional and global implications. The meeting reviewed progress in India-Nordic relations since the first summit held in Stockholm in 2018, and the leaders discussed multilateral cooperation in areas such as post-pandemic economic recovery, the climate crisis, sustainable development, digitalisation, and green growth. There were also discussions on cooperation in the maritime sector and sustainable ocean management, and Modi invited the Nordic companies to invest in the blue economy, especially India’s “Sagarmala” project. Modi noted that India’s Arctic Policy is a good framework for expanding cooperation with the Nordic states. He also invited the sovereign wealth funds of the Nordic countries to invest in India. Twitter Inc is facing a skeptical audience as it showcases its advertising opportunities on Wednesday evening at an event in New York City, three ad agency executives told Reuters, as the social media company’s plans under billionaire Elon Musk remain unclear. The Tesla chief executive, who is buying Twitter for $44 billion, has tweeted that the platform should not have ads so it can have more control over its content moderation policies. Twitter has told its employees in internal staff meetings and in public filings that its advertising business and other operations would continue normally until the deal closes, but the company could not speculate on changes Musk might make. “He’s like the ghost of Christmas future hanging over this whole thing,” said Mark DiMassimo, founder of ad agency DiMassimo Goldstein, referring to Twitter’s presentation to advertisers on Wednesday. “Whatever (Twitter) says, all anyone really wants to know is how this will be in the future.” The Monetary Policy Committee (MPC) of Reserve Bank of India announced an unscheduled hike of 40 and 50 basis points – one basis point is one hundredth of a percentage point – in policy rate and the Cash Reserve Ratio (CRR) respectively in a move to contain raging inflation. The hike, the first in 45 months, comes a month before RBI’s next scheduled meeting on June 6, surprised both markets and experts, and will increase most consumer loan rates, including on mortgages. Announcing MPC’s decision at an unscheduled press conference on May 4, RBI governor Shaktikanta Das justified the action on account of increased risks to inflation compared to the MPC’s April assessment. To be sure, Das reiterated that monetary policy stance continues to be accommodative, which according to experts refers to the fact that real policy rate (after adjusting for inflation) continues to be negative. Still, conventional monetary theory will find it reconcile higher interest rates with an accommodative stance. While the MPC resolution released on May 4 does not give actual projections for growth or inflation numbers, it has noted “significant upside risks to the inflation trajectory set out in the April statement of the MPC” while saying that “it is prudent to continuously monitor the balance of risks” to growth even though “the Indian economy appears capable of weathering the deterioration in geopolitical conditions”. India may reconsider the nine-month gap between the second Covid-19 shot and the booster dose for those travelling overseas, especially to countries mandating that arriving travellers have been administered a third shot, people familiar with the matter said. This may be reduced to six months, they added. The idea is one of several discussed by the government’s expert panel which is looking at several issues related to booster doses, including reducing the gap for all eligible people to about six months. Several people have made representations to the central government lately on reducing the gap as many countries have begun asking for a booster dose, creating hurdles for those intending to travel abroad for employment, education, business, or pleasure. In addition, some experts have said that reducing the gap from the current nine months would speed up the booster drive — which is currently lagging. According to health ministry data, at least 105.8 million people were eligible for the booster dose (those who had received both shots of the vaccine as on August 1, 2021) as on May 1, but only 28.3 million have taken one. The government’s expert advisory panel, National Technical Advisory Group on Immunisation (NTAGI) is looking at the available evidence to make recommendations in this regard. A section of lawyers claiming allegiance to the Congress protested against former Union Finance Minister and senior advocate P Chidambaram for representing one of the respondents in a petition seeking probe into sale of shares of Metro Dairy by the West Bengal government to agro-processing firm Keventer, as the senior Congress leader was leaving the Calcutta High Court. Alleging that Chidambaram is playing with the sentiment of the Congress party, the lawyers claimed that it was not appropriate for him to represent a respondent in the matter when West Bengal Congress chief Adhir Chowdhury is fighting the case challenging the Trinamool Congress government’s sale of shares of Metro Dairy to the private company. One of the participants in the protest, lawyer Kaustav Bagchi said the former Union Finance Minister was appearing in the case in which purchase of shares by a private entity was being objected to by the West Bengal Pradesh Congress Committee president. “Mr Chidambaram is a CWC (Congress Working Committee) member and a very important leader,” Bagchi said. He said he led the protest “as a Congress worker” and not as a lawyer and added that party workers will mete out similar treatment to any leader who acts against the interests of Congress in West Bengal.
More defections from Congress as 8 Goa lawmakers join BJP, Power subsidy in Delhi to those who opt for it, applications open: CM Kejriwal, Cheetahs To Travel Without Food From Nami ... Read more
More defections from Congress as 8 Goa lawmakers join BJP, Power subsidy in Delhi to those who opt for it, applications open: CM Kejriwal, Cheetahs To Travel Without Food From Namibia To India and other top news in the bulletin. Read more
Modi expected to meet Putin at SCO summit this week, IPS officer who headed Ishrat Jahan encounter probe dismissed, Pakistan asks Taliban setup to trace and arrest JeM chief Masood ... Read more
Modi expected to meet Putin at SCO summit this week, IPS officer who headed Ishrat Jahan encounter probe dismissed, Pakistan asks Taliban setup to trace and arrest JeM chief Masood Azhar and other top news in this bulletin. Read more
Thunderstorms, and lightning likely over central India for next 5 days: IMD, Bengal BJP leaders detained ahead of the protest march, heavy barricading in Kolkata, Mukul Rohatgi set ... Read more
Thunderstorms, and lightning likely over central India for next 5 days: IMD, Bengal BJP leaders detained ahead of the protest march, heavy barricading in Kolkata, Mukul Rohatgi set to become Attorney General again, and other top news in bulletin. Read more
India, China pull back troops from key point, Kejriwal gets into heated argument with Gujarat Cops, At UN event, India delivers sharp message to Lanka on Tamil minority, economy an ... Read more
India, China pull back troops from key point, Kejriwal gets into heated argument with Gujarat Cops, At UN event, India delivers sharp message to Lanka on Tamil minority, economy and other top news in this bulletin. Read more
Handing over Sonali Phogat death case to CBI, says Goa CM, amid growing demands, PM Modi lauds female workforce in India's dairy sector: ‘women represent…’, No interviews for non-C ... Read more
Handing over Sonali Phogat death case to CBI, says Goa CM, amid growing demands, PM Modi lauds female workforce in India's dairy sector: ‘women represent…’, No interviews for non-Christians in St Stephen’s, CUET score enough: Delhi HC and other top news in bulletin. Read more
Disengagement of Indian, Chinese over Ladakh's Gogra-Hot Springs set to be wrapped up today, Govt to open NCDC in each state for effective outbreak surveillance, Construction of Ra ... Read more
Disengagement of Indian, Chinese over Ladakh's Gogra-Hot Springs set to be wrapped up today, Govt to open NCDC in each state for effective outbreak surveillance, Construction of Ram temple in Ayodhya to cost ₹1800 crore: Trust and other top news in this bulletin. Read more
Rahul Gandhi's chat with controversial preacher sparks row, India's Global Innovation Index ranking improved from 81 in 2015 to 46 now, BBC suffered a huge embarrassment due to an ... Read more
Rahul Gandhi's chat with controversial preacher sparks row, India's Global Innovation Index ranking improved from 81 in 2015 to 46 now, BBC suffered a huge embarrassment due to an awkward ‘typo’ in its subtitles during its coverage on King Charles III and other top news in this bulletin. Read more
As Queen departs, Twitterati now demands Kohinoor's return to India, Army gets new battle gear in northeast, helipads for Chinooks, Supreme Court notice to 11 convicts on pleas aga ... Read more
As Queen departs, Twitterati now demands Kohinoor's return to India, Army gets new battle gear in northeast, helipads for Chinooks, Supreme Court notice to 11 convicts on pleas against release in Bilkis Bano case and other top news in this bulletin. Read more
India to observe state mourning on Sunday in respect of Queen Elizabeth, SC stays demolition of Curlies restaurant in Goa linked to Sonali Phogat's death, Brahmastra is finally in ... Read more
India to observe state mourning on Sunday in respect of Queen Elizabeth, SC stays demolition of Curlies restaurant in Goa linked to Sonali Phogat's death, Brahmastra is finally in theatres after years of wait and other top news in this bulletin. Read more
From Biden to Putin, global leaders mourn the death of ‘dignified, strong’ Queen Elizabeth II, India slips one rank in UN human index rating, India to join three of four IPEF ‘pill ... Read more
From Biden to Putin, global leaders mourn the death of ‘dignified, strong’ Queen Elizabeth II, India slips one rank in UN human index rating, India to join three of four IPEF ‘pillars’ and other top news in the bulletin. Read more
The Website uses cookies to ensure you get the best experience on our website. If you continue browsing you will be providing your consent to our use of these.