Around the Globe

Around the Globe

With Chandra at helm, Tata stocks on rising-spree

As the dust settled after the boardroom battle at Bombay House, stocks of Tata group companies have made smart gains as investors have given a thumbs-up to the changes at the top echelons of the multi-billion dollar conglomerate. The group companies have gained in the range of 30-229 per cent since January this year after N Chadrasekaran was designated as the chairman of the 150-year-old group (see table).

Two ex-Trump aides charged in Russia probe, third pleads guilty

Federal investigators probing Russian interference in the 2016 US election charged President Donald Trump’s former campaign manager Paul Manafort and another aide, Rick Gates, with money laundering on Monday

A third former Trump adviser, George Papadopoulos, pleaded guilty in early October to lying to the FBI.

It was a sharp escalation of US Justice Department Special Counsel Robert Mueller’s five-month-old investigation into alleged Russian efforts to tilt the election in Trump’s favor and into potential collusion by Trump aides.

Govt clears mega project to acquire 111 helicopters for Navy

In a major move, the defence ministry today approved procurement of 111 utility helicopters for the Indian Navy at a cost of Rs 21,738 crore.

The long-pending proposal was cleared at a meeting of the Defence Acquisition Council (DAC), chaired by Defence Minister Nirmala Sitharaman, official sources said.

They said 16 helicopters will be procured at a fly away condition while 95 will be manufactured in India.

The acquisition of the helicopters will be made under the strategic partnership model.

Gadkari invites UAE investors for infra development

Inviting UAE investors to join hands with India and be part of its infrastructure growth story, Union Minister Nitin Gadkari today said two mega initiatives worth Rs 24 lakh crore - Sagarmala and Bharatmala - are going to be game changers.

Addressing the India-UAE Business Summit in Dubai via video conferencing, the highways, shipping and river development minister said India is also keen to attract investors from UAE for the Clean Ganga Mission and projects related to it.

First Charges Approved in Mueller Russia Probe, Reports Say

A U.S. grand jury has approved the first charges stemming from special counsel Robert Mueller’s probe into Russian meddling in the 2016 election and possible collusion with Donald Trump’s campaign, according to multiple news reports.

The charges are sealed under orders from a federal judge and it’s unclear who’s implicated, CNN reported, adding that arrests could come as soon as Monday. The Wall Street Journal reported that at least one person has been charged, citing people familiar with the matter that it didn’t identify.

Mandatory use of PFMS to help monitor fund flow to CSS

Finance Minister Arun Jaitley today said the mandatory use of Public Finance Management System (PFMS) will help monitor the flow of funds to beneficiaries of different government welfare schemes.

He was speaking at a function to launch the mandatory use of PFMS for all Central Sector Schemes (CSS), which have a budgetary outlay of Rs 6,66,644 crore.

If You Want to Fly to America, Get Ready to Be Interrogated

Travelers headed to America may be talking more with their airline. The Department of Homeland Security will require carriers to begin asking US-bound passengers additional screening questions on about 2,100 daily flights starting on Thursday. These conversations may include the purpose of a trip, whether a bag has been in the traveler’s possession at all times and other queries the government has not disclosed.

GST unleashed tsunami of tax terror: Rahul Gandhi

Launching a fresh salvo at the ruling BJP, Congress vice president Rahul Gandhi today accused Prime Minister Narendra Modi and his government of "killing" the economy by firing the "double tap" of demonetisation and GST into its heart.

Gandhi also attacked Finance Minister Arun Jaitley over the state of the economy, alleging that while businesses were drowning, the minister had "the nerve to go on TV every other day and say that 'things are just fine'".

Modi and his government had fired a "double tap" at the heart of the economy, he said at an industry event here.