Around the Globe

Around the Globe

Bangalore world’s most dynamic city

Six Indian cities have made it to the world’s 30 most dynamic places that have the ability to embrace technological change, absorb rapid population growth and strengthen global connectivity, with Bangalore topping the chart.
Cities in India, China and Vietnam, along with several in the US, head the list of world’s fastest changing cities in JLL’s fourth annual City Momentum index. Other Indian cities in the list are Hyderabad at 5th position, Pune (13th), Chennai (18th), Delhi (23rd) and Mumbai (25th).
Asia Pacific cities comprise half the top 30 fastest-changing cities.

Govt to sell 25% in 4 general insurance firms and GIC Re

The government on Wednesday approved the listing of four public sector non-life insurance companies and state-owned reinsurer (GIC Re) to help bring in more transparency and equity in these companies and improve corporate governance. “It could be either by fresh equity or offer for sale. Both options are available. We can expand the shareholding so that the government share comes down to 75 per cent,” finance minister Arun Jaitley told reporters after the Cabinet meeting.

Sugar mills warned against speculation in futures trade

The government is believed to have asked sugar manufacturers against speculation in the futures, as it disfavours a further price spiral from the current level in view of the impending assembly polls in five states, including Uttar Pradesh and Punjab.
“We are ready with all measures that are needed to control prices. Once the production of sugar this year is re-assessed, the measures will be rolled out,” an official said.

Urjit finds unlikely saviour in Manmohan at grilling

RBI governor Urjit Patel, caught in a maelstrom since demonetisation was rolled out, found an unlikely saviour in ex-RBI governor Manmohan Singh on Wednesday.
It took place while the parliamentary standing committee on finance was subjecting Urjit to a Spanish inquisition.

Respect India's territorial sovereignty: India to China

In the midst of growing unease in their ties, India today asked China to respect its territorial sovereignty and said its ascent should not be seen as a threat to China's rise.

Foreign Secretary S Jaishankar also criticised Pakistan for "blocking" SAARC, saying the regional grouping has become "ineffective" due to insecurity of one member nation.

BSNL to launch 1000 wifi hotspots to address 4G challenges

Public-sector BSNL is all set to set launch 1000 high-speed wifi hotspots across the state to address the challenges posed by its absence in the 4G data services.

Kerala Circle CGM of BSNL, R Mani told reporters here that the proposed hotspots would provide 4.5G speed and it would be commissioned within a months' time.

Huge cost to buy the 4G spectrum was the hindrance for the state-run service provider to plunge into 4G service but it is expected to happen by this March, he noted.

Tata firm to invest in Rs 5,900-cr Swan LNG project

In the first investment decision since N Chandrasekaran named as the Tata Group chief, Tata Realty and Infrastructure Ltd is taking 10 per cent stake in a Rs 5,900-crore floating LNG import terminal being set up by Nikhil Merchant-led Swan Energy in Gujarat.

This will be the first investment by Tata Group in gas business. Tata Realty and Infrastructure (TRIL), which was set up in 2007 to pursue opportunities in the real estate and infrastructure sectors, is a wholly-owned subsidiary of Tata Sons, the holding company of the Tata Group.

Trying to convince China that India's rise not harmful to its ascent: Jaishankar

In the backdrop of growing unease in Sino-India ties, India today said it has been trying to convince the Chinese government that its ascent is not harmful to the rise of China and that both countries should be sensitive on matters relating to sovereignty.

In an address at the Raisina Dialogue, Foreign Secretary S Jaishankar took strong objection to the China-Pakistan Economic Corridor (CPEC) which passes through Pakistan-occupied-Kashmir, saying there should have been some reflection on India's unhappiness over it.

Trai seeks AG's opinion on Jio's tariff plans

Telecom regulator Trai has asked for attorney general's views on billionaire Mukesh Ambani-led Reliance Jio's free voice and data offering till March that rivals have called "predatory".

The Telecom Regulatory Authority of India (Trai) sought the top government legal advisor's opinion on the tariff plans submitted by Jio, a top source said.

Britain will leave EU single market

Britain will leave the EU’s single market when it exits the European Union, prime minister Theresa May (in pic) said on Tuesday, putting an end to speculation that London might try to seek a “soft Brexit.”
In a long-awaited speech, in which she sought to define the country’s future as a global player that aims to trade freely far beyond Europe, May said the final exit deal would be put to the Parliament for a vote.