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BHARAT 22 ETF

ONGC
IOC
BPCL
SBI
Bank of Baroda
Indian Bank
Coal India
NALCO
BEL
Engineers India
NBCC
NTPC
NHPC
SJVNL
GAIL
Power Grid
NLC India

L&T
ITC
Axis Bank

BHARAT 22 ETF

Exposure

 

Pvt Sector 39%


PSU Stocks 61%

BHARAT 22 ETF

Second tranche to open today, 2.5% discount across categories

Government looking to raise up to Rs 8,400 Cr

Consists of stocks from six sectors

ASHOK LEYLAND

Hinduja Leyland Finance files for IPO

Hinduja Leyland Finance IPO to raise Rs 500 Cr

TITAN


Sells shares of Titan Time products unit to Danlaw Tech

To receive Rs 18.5 Cr from unit
Sale

AVIATION IN FOCUS

Airports run out of slots, parking space

Delhi, Mumbai offering slots between 11 P.M & 5 A.M only

Pune & Goa not offering any slots for new flights

Bengaluru, Chennai & Kolkata don't have any slots in peak time

GLENMARK PHARMA

USFDA nod for Atovaquone & Proguanil Hydrochloride tablets

First supplemental ANDA from U.S. MFG facility

U.S. Facility to provide foundation for future product approvals

U.S. Facility peak capacity of 300-400 Mn tablets per year

Has invested more than $100 Mn into the U.S. Facility

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Bjp pulls out of J& K alliance

News In Brief

 

    Verizon to stop sharing phone-location data to third parties

    Verizon Communications Inc has decided to stop sharing phone-location data of its customers to third parties, the largest U.S. wireless company said on Tuesday. 

    “When these issues were brought to our attention, we took immediate steps to stop it,” Rich Young, a Verizon spokesman said.

    (Reuters)

    Top US business group urges end to child separation policy

    Washington: The US Chamber of Commerce on Tuesday urged an end to the Trump administration policy of separating children from parents trying to enter the United States illegally at the border with Mexico.

    “Some administration officials reportedly view the policy of separating children from their parents as leverage to gain other immigration policy changes from Congress,” Thomas Donohue, the group’s president, said in a statement. “Surely a nation as big, generous, and compassionate as the United States can find a way to prevent separating children from their parents at the border. If we can’t agree on that, then we can’t agree on anything.”

    (Reuters)

    Gazprom says will defend its rights after UK court ruling

    Moscow: Russia’s gas monopoly Gazprom said on Tuesday it will continue defending its rights in accordance with the law after a British court ruled to freeze its assets.

    Ukraine state oil and gas firm Naftogaz said earlier a London court has granted its request to freeze the British assets of Gazprom, part of its efforts to enforce an earlier arbitration ruling from Sweden.

    (Reuters)

     

    Euro reforms will be backed by German coalition, lawmakers: Merkel

    Berlin: German Chancellor Angela Merkel said on Tuesday a euro zone reform package agreed with French President Emmanuel Macron would be supported by all parties in her ruling coalition. 

    “I can give a very clear ‘yes’ that everything agreed here today will get support, this has been discussed both with the governing coalition and the lawmakers,” Merkel told a joint news conference with Macron. “I’m very optimistic that we, from the German side, will be able to implement this,” she added.

    (Reuters)

    White House's Navarro: no progress after trade talks with China

    Washington: White House trade adviser Peter Navarro said on Tuesday that multiple rounds of talks between U.S. and Chinese officials had not yielded progress over a growing trade dispute, spurring tariffs that he said were needed to defend U.S. interests. 

    “Our phone lines are open, they have always been open,” Navarro told reporters on a conference call. “The fundamental reality is that talk is cheap. ... The president has taken action on behalf of the American people and it’s a necessary defense of the crown jewels of American technology and intellectual property against Chinese theft.”

    (Reuters)

    Macron says euro zone budget to be operational from 2021

    Meseberg, Germany: A new joint euro zone budget agreed on Tuesday by France and Germany will be operational by 2021, French President Emmanuel Macron said after talks with German Chanceller Angela Merkel. 

    Macron said that details of the budget, including its amount and whether it would be financed by national sources or a bloc-wide tax, would be hammered out by ministers before the end of the year.

    (Reuters)

    Siemens CEO Kaeser dismisses large turbine sales rumours

    Zurich: Siemens Chief Executive Joe Kaeser dismissed reports the German engineering company was considering selling off its struggling large turbines business as “media speculation” on Tuesday. 

    The Munich-based company is considering various strategic options, including selling the business and selling it to rival, it was reported last week.

    (Reuters)

    Cybersecurity firm CrowdStrike raises $200 million

    New York: CrowdStrike said on Tuesday it has raised $200 million in the latest round of funding, putting the cloud-based cybersecurity company’s valuation at more than $3 billion. Leveraging on artificial intelligence, CrowdStrike’s Falcon platform prevents attacks on endpoints - which is a desktop or a server - on or off the network. 

    The series E round of financing was led by General Atlantic, Accel and IVP, with participation from existing investors CapitalG, an investment arm of Google’s parent company Alphabet Inc, and March Capital, CrowdStrike said.

    (Reuters)

    Merkel, Macron agree on euro zone budget

    Berlin: Chancellor Angela Merkel said she and French President Emmanuel Macron agreed on Tuesday to create a euro zone budget charged with boosting investment in the currency bloc and promoting economic convergence between its 19 member states. 

    “We are opening a new chapter,” Merkel said after talks with Macron on European reform ahead of a June 28-29 EU summit. She said euro zone reform was the toughest issue in their talks. “We are working to make sure that the euro zone budget will be used to strengthen investment, also with the aim of strengthening convergence within the euro zone,” she added.

    (Reuters)

    Naftogaz says British court grants Gazprom asset freeze in UK

    Kiev: Ukraine state oil and gas firm Naftogaz said on Tuesday a London court has granted its request to freeze the British assets of Russia’s Gazprom, to enforce an earlier arbitration ruling from Sweden.

    That ruling, made by the Stockholm arbitration court in February, was meant to conclude a legal battle over gas deliveries. But Naftogaz says Gazprom has not complied with the ruling, which obliged the Russian company to resume gas supplies to Ukraine at market equivalent prices and pay $2.6 bn (1.9 billion pounds). Naftogaz has said it would go to court to seize Gazprom assets in Europe, but would not touch Russian gas transit through Ukraine.

    (Reuters)

    Governor's rule recommended in J&K

    Srinagar: Jammu and Kashmir Governor N.N. Vohra on Tuesday evening suggested to the Union Home Ministry that Governor's Rule should be imposed for six months in the state after the PDP-BJP coalition collapsed, official sources said.

    The Jammu and Kashmir Constitution provides for Governor's Rule unlike other states which see President's Rule.

    (IANS) 

    White House says Kushner met Jordan's Abdullah about Israeli-Palestinian peace

    Washington: White House Senior Adviser Jared Kushner, who is also President Donald Trump’s son-in-law, met on Tuesday with Jordan’s King Abdullah about the humanitarian situation in Gaza and the Trump administration’s efforts on creating peace between Israel and the Palestinian territories, the White House said on Tuesday.

    The meeting, which also included Special Representative for International Negotiations Jason Greenblatt, came one day after a tete-a-tete between the king of the Arab nation and Israeli Prime Minister Benjamin Netanyahu on advancing regional peace. The Trump administration has been working on an Israeli-Palestinian plan, but it has yet to be made public. 

    (Reuters)

    Oakter to invest $2 m in R&D

    Mumbai: Internet connected home appliances company Oakter Smart Home today announced its plans to invest USD 2 million in R&D.

    The company is a leading developer and seller of AI powered connected home appliances in the country, and plans to further expand its technological capabilities by instituting a research centre in Noida, it said in a statement. Further, it is hiring over 30 system engineers to develop the next generation AI for edge-computing inside home products.

    (PTI) 

    DIL to merge subsidiary Fermenta Biotech

    New Delhi: DIL Ltd, formerly known as Duphar-Interfran, today said its board has approved merger of its subsidiary Fermenta Biotech in which it owns more than 91 per cent stake.

    The move is part of an overall business restructuring exercise, the company said, adding a separate board meeting has been called on June 21 to consider scheme of amalgamation. The board also approved a 1:1 share split plan and a 1:1 bonus issue of shares, it said. DIL holds 91.2 per cent stake in Fermenta Biotech, which was incorporated in 1986 and is engaged in manufacturing of vitamin D3, other specialty APIs, biological enzymes apart from offering integrated biotech-based environmental solutions.

    (PTI)

     

    Wall Street falls as China-US trade tensions mount

    New York: US stocks opened lower on Tuesday as President Donald Trump’s latest threat to impose duties on additional Chinese goods heightened worries that tit-for-tat tariffs could spiral into a trade war. 

    The Dow Jones Industrial Average .DJI fell 223.88 points, or 0.90 percent, at the open to 24,763.59. The S&P 500 .SPX opened lower by 21.74 points, or 0.78 percent, at 2,752.01. The Nasdaq Composite .IXIC dropped 88.55 points, or 1.14 percent, to 7,658.47 at the opening bell. At current levels, the Dow Jones has wiped out all its gains for the year.

    (Reuters)

     

    Russia to propose increasing OPEC+ oil output by 1.5 million bpd: Novak

    Moscow: Russia plans to propose increasing oil production by the OPEC+ deal members by 1.5 million barrels per day (bpd), the Energy Minister Alexander Novak told reporters, days ahead his visit to Vienna for the related summit. 

    “The market is growing, (oil) demand is growing and we already see a balance in the market,” he said. Novak did not say how much Russia may increase its production, adding that it depends on each company’s capacity. Novak also said that it would be reasonable to introduce increases in the third quarter when oil demand is highest and to meet in September to see how the market has reacted.

    (Reuters)

    GameStop says in talks for possible transaction

    Videogame and electronics retailer GameStop Corp confirmed on Tuesday that it was in exploratory talks with third parties about a possible transaction.

    On Monday, Reuters reported that the Grapevine, Texas-based company was in discussions with private equity firms about a potential deal after receiving buyout interest.

    (Reuters)

    Russia welcomes suspension of U.S.-South Korean military drills: Interfax

    Moscow: The Russian foreign ministry welcomed on Tuesday a decision by the United States and South Korea to suspend a major joint military exercise, Interfax news agency reported. 

    South Korea and the Pentagon announced they would halt the annual Freedom Guardian military drill scheduled for August.

    (Reuters)

    Warplanes strike Syrian opposition-held southwest: Monitor

    Beirut: Warplanes struck an opposition-held area in Syria’s southwestern Deraa province on Tuesday, the Syrian Observatory for Human Rights said, a military escalation in a territory where government forces have been mobilising for an offensive. 

    The raids targeted the area of al-Masika village in northeastern Deraa province. Rebel forces control swathes of territory in southwestern Syria, which borders Jordan and the Israeli-occupied Golan Heights.

    (Reuters)

    Common ground emerging on Syria constitution, more talks planned: UN

    Geneva: Senior officials from Iran, Russia and Turkey held “substantive” talks on Tuesday on how Syria’s constitutional committee will be set up and will function, and more such talks are planned within weeks, U.N. Syria envoy Staffan de Mistura said in a statement.

    “During the meeting, constructive exchanges and substantive discussions took place on issues relevant to the establishment and functioning of a constitutional committee, and some common ground is beginning to emerge,” said the statement after talks in Geneva.

    (Reuters)

    US dollar ends higher against rupee

    Mumbai: The US dollar ended higher against the rupee at Rs 68.38/39 per dollar but the pound sterling finished lower at Rs 89.96/98 at the close of the Interbank Foreign Exchange (forex) market here today.     

    Following are the Interbank forex and RBI rates : (In Rs per unit) Unit Interbank  RBI Reference US Dollar  68.38/39  US Dollar Rs 68.1511 Pound Sterlin  89.96/98 EURO Rs 79.1575 Euro 78.97/99 Japanese yen (100)  62.27/29.

    (PTI) 

    Iran says will try to keep its share in OPEC production: SHANA

    London: Iran will try to keep its share of OPEC production despite fresh U.S. sanctions on its petroleum industry, Iranian government spokesman Mohammad Bagher Nobakht was quoted as saying by oil ministry news agency SHANA.

    “The Iranian government will try to keep its share in OPEC despite enmity of some members,” Nobakht said on Tuesday.

    (Reuters)

    Dollar holds gains as U.S. housing starts hit near 11-year high

    New York: The dollar remained close to an 11-month high against a basket of currencies on Tuesday as domestic housing starts jumped to near an 11-year peak in May, suggesting resilience in the real estate sector despite higher mortgage rates.

    At 8:42 a.m. (1242 GMT), the index that tracks the greenback against the euro, yen, sterling and three other currencies .DXY was up 0.37 percent at 95.154. Earlier Tuesday, it reached 95.296, the highest since July 17, 2017, Reuters data showed.

    (Reuters)

    Kejriwal calls off nine-day sit-in: Manish Sisodia

    New Delhi: Delhi Chief Minister Arvind Kejriwal on Tuesday called off the nine-day sit-in, said Deputy CM Manish Sisodia.

    (PTI)

    WDM witnesses trade worth Rs 1,186.75 cr on NSE

    Mumbai: Wholesale debt market segment of the National Stock Exchange today witnessed a total turnover of Rs 1,186.75 crore in 36 trades.

    Top securities (nn-repo) traded at the WDM: The 7.17 per cent Government security maturing in CG2028 traded value of Rs 160.00 crore at weighted yield of 7.86 per cent, the 7.61 per cent Government security maturing in CG2030 traded value of Rs 75.00 crore at weighted yield of
    8.13 per cent and the 6.84 per cent Government security maturing in CG2022 traded value of Rs 50.00 crore at weighted yield of 7.91 per cent,NSE re;ease said.

    (PTI)

    Delhi Chief Minister Arvind Kejriwal calls off nine-day sit-in

    New Delhi: Delhi Chief Minister Arvind Kejriwal calls off nine-day sit-in, says Dy CM Manish Sisodia.

    (PTI)

    Russia welcomes suspension of U.S.-South Korean military drills: Interfax

    Moscow: The Russian foreign ministry welcomed on Tuesday a decision by the United States and South Korea to suspend a major joint military exercise, Interfax news agency reported. 

    South Korea and the Pentagon announced they would halt the annual Freedom Guardian military drill scheduled for August.

    (Reuters)

    China's Xi meets North Korean leader Kim Jong Un in Beijing

    Beijing: Chinese President Xi Jinping met North Korean leader Kim Jong Un in Beijing on Tuesday, state television reported. 

    It gave no details of their talks.

    (Reuters)

    Mamata wishes Rahul Gandhi on birthday

    Kolkata: West Bengal Chief Minister Mamata Banerjee today wished Congress president Rahul Gandhi on his 48th birthday.

    "Wishing you a very happy birthday, @RahulGandhi," Banerjee said in tweet. Gandhi, who had taken over as vice-president of the Congress in January 2013, was elected unopposed as the party president on December 11, 2017.

    (PTI)

    Italy to stay on debt reduction path as growth labors: Minister

    Rome: Italy will try to reduce debt to preserve investors’ confidence in the highly indebted country, as the outlook for economic growth starts to slip, Economy Minister Giovanni Tria said on Tuesday.

    Speaking in the lower house of parliament, Tria said “the confidence of financial markets is necessary” for Italy, whose debt amounts to around 1.3 times it annual economic output.  “In the interest of the country, it is the intention of the government to act to prevent any worsening of the public accounts,” Tria told lawmakers. Output in the second quarter was similar to the first, Tria said, adding that the outlook for growth and, as a consequence, public accounts, was less favorable now than it had been a few months ago.

    (Reuters)

    UK govt will not accept Lords proposal of 'meaningful vote': Source

    London: Britain’s government will not accept a proposal from the upper house of parliament which hands lawmakers greater power over a Brexit deal, a government source said on Tuesday, setting up a showdown over plans for a “meaningful vote”.

    The source said on condition of anonymity that Prime Minister Theresa May would stick to her offer to the lower house of parliament for a vote to accept or reject any deal she wins in Brussels to leave the European Union.

    (Reuters)

    LG asks Kejriwal to urgently meet officers to address concerns of both sides through dialogue

    New Delhi: Delhi LG Anil Baijal has written a letter to Arvind Kejriwal; asking him to urgently meet officers to address concerns of both sides through dialogue, LG's office said.

    (PTI)

    North Korean leader says he wants to maintain high-level contacts with Russia: Kremlin aide

    North Korea leader Kim Jong Un sent a letter to Russian President Vladimir Putin saying that he wants to maintain high-level contacts with Russia, Kremlin foreign policy aide Yuri Ushakov said on Tuesday, Ria Novosti news agency reported.

    Kremlin spokesman Dmitry Peskov said earlier this month that Russia had invited Kim to visit the country and that he might come as part of an economic forum held in the far eastern city of Vladivostok in September. Russian Foreign Minister Sergei Lavrov visited North Korea last month.

    (Reuters)

    Home Credit India appoints Sandip Mallik as Chief Human Resources Officer

    New Delhi: Home Credit India Finance, a non-banking financial company, today said it has appointed Sandip Mallik as its Chief Human Resources Officer (CHRO).   He takes over from Jindra Hachova, and will be responsible for talent acquisition and retention, organisational change management, employer branding, hiring and learning and development, Home Credit India said in a statement. 

    His responsibilities will also include employee engagement, compensation and benefits, and rewards framework across the firm, it added.  Prior to joining Home Credit, Mallik was an entrepreneur and founded a boutique alternate asset management firm specialising in fine art investment.   He has also worked with firms like Aviva, Emerson and GE.

    (PTI)

    InCred appoints Vivek Bansal as CFO

    New Delhi: Mumbai-based InCred today said it has appointed Vivek Bansal as its Chief Financial Officer.  With 20 years of domestic and international experience in the banking and financial services industry, Bansal brings on board his experience to strengthen InCred's management team as it moves to the next phase of its growth, the company said in a statement.

    "He has extensive experience in all aspects of financial control, strategy and planning. Vivek is passionate about establishing excellence in financial management and bringing global best practices of governance which makes him a perfect fit for InCred," InCred founder and CEO Bhupinder Singh said.  Previously, Bansal was associated with YES Bank and has held various leadership roles at Fidelity Investment Managers in the UK and Standard Chartered Bank in India.  

    (PTI)

     

    Oakter to invest $2 mn in R&D

    New Delhi: Oakter Smart Home, an internet-connected home appliances company, today said it plans to invest USD 2 million in research and development and hire engineers to work on artificial intelligence-powered products this year. 

    The startup plans to further expand its technological capabilities by instituting a research centre in Noida (Uttar Pradesh), and hire over 30 system engineers in 2018, a statement said.  "India has the best talent in software and hardware technology, and we shall harness young minds in developing the next generation of AI based hardware technology.

    (PTI) 

     

     

    Government is open to giving more powers to the RBI

    New Delhi: Government is open to giving more powers to the RBI, says Finance Minister Piyush Goyal.

    (PTI)

    Public money is 100 per cent safe in state-owned banks

    New Delhi: Public money is 100 per cent safe in state-owned banks, says Finance Minister Piyush Goyal.

    (PTI)

    Have told governor we will not go into any other alliance: Mehbooba

    Srinagar: After submitting her resignation, PDP's Mehbooba Mufti on Tuesday said she had informed governor about not going into any other alliance.

    (PTI)

    We will continue to strive for dialogue and reconciliation in J-K

    New Delhi: We will continue to strive for dialogue and reconciliation in J-K, alliance with BJP was not for power, says PDP leader Mehbooba Mufti. 

    (PTI)

    Trade tensions clear downward risk: ECB'S Smets

    London: Escalating global trade tensions are “clearly a downward risk” for the world economy, European Central Bank policymaker Jan Smets said on Tuesday. 

    “In the euro zone we consider the risks for growth to be balanced, but in the global environment - and due in particular to this trade issue - the risks are more on the downward side and a little bit worrying,” Smets, who heads Belgium’s national central bank, said in a CNBC interview. “Basically it is not good news.” He added that although the ECB said last week that it would not raise interest rates for at least a year, it was too early to say when exactly it could lift them.

    (Reuters)

    We had always said muscular security policy will not work in J-K: Mufti

    New Delhi: We had always said muscular security policy will not work in J-K, reconciliation is key, says PDP leader Mehbooba Mufti. 

    (PTI)

    NC VP Omar meets J&K Governor

    Srinagar: Opposition National Conference vice president Omar Abdullah today called on Jammu and Kashmir Governor N N Vohra in the wake of BJP pulling out of its coalition government with the PDP in the state.

    "Omar Abdullah has gone to meet the Governor," NC provincial president Nasir Aslam Wani told PTI. Wani said Omar will address a press conference upon his return from the Raj Bhawan to explain the party stand on the present situation to the public. "We had a party meeting before Omar sahib went to see the Governor and we will be meeting again later in the day," he added.

    (PTI) 

    Deutsche Bank sells $1 billion ship loan portfolio to Oak Hill and Varde

    Frankfurt: Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday.

    The transaction is expected to close in the third quarter, subject to regulatory approvals, Deutsche Bank said in a statement. Reuters had reported last week that the sale of the portfolio to the two groups was imminent.

    (Reuters)

    Wish Mehbooba Mufti had gone with some dignity: Omar

    Srinagar: Former CM Omar Abdullah hit out at Mehbooba Mufti saying "wish she had gone with some dignity rather than having rug pulled under her feet".

    (PTI)

    Chief Minister Mehbooba Mufti tenders her resignation to Governor

    New Delhi: Chief Minister Mehbooba Mufti tenders her resignation to Governor N N Vohra, says Officials.

    (PTI)

    China treasury futures jump after Trump tariff threat

    Shanghai: China’s benchmark 10-year treasury futures jumped on Tuesday amid growing trade tensions between the United States and China.

    The price of 10-year treasury futures for September delivery CFTU8, the most-traded contract, rose 0.43 percent in afternoon trade to 94.485.

    (Reuters)

    China urges U.S. to stop damaging words and deeds on trade

    Beijing: China’s Foreign Ministry on Tuesday urged the United States to stop its damaging words and deeds, after President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods.

    Ministry spokesman Geng Shuang made the comment at a regular news briefing, adding that China did not want a trade war but was not afraid of one.

    (Reuters)

    NC leader Omar Abullah says: we do not have mandate in 2018

    New Delhi: NC leader Omar Abullah says, "We did not have mandate in 2014 and we do not have mandate in 2018".

    (PTI)

    National Conference leader Omar Abdullah rules out alliance

    New Delhi: National Conference leader Omar Abdullah rules out alliance with any party to form government in J-K.

    (PTI)

    Tata Power first utility to automate bill payments using e-NACH

    New Delhi: Tata Power today said that it has become the first power utility to enable online, automated bill payments using e-NACH (Electronic National Automated Clearing House).  IDFC Bank is the technology partner and settlement banker to Tata Power.

    This is a new-age electronic online mandate registration process, launched by the National Payments Corporation of India (NPCI), where consumers of Tata Power, Mumbai can now e-sign the mandate online using Aadhaar-based verification, a Tata Power statement said.  The service will provide more convenient and quicker payment options to the consumers and contribute to the financial inclusion in the country, Praveer Sinha, CEO and MD of Tata Power, said in statement.

    (PTI)

    PepsiCo gives $4.26 mn grant for safe water

    New Delhi: PepsiCo Foundation today announced a grant of USD 4.26 million (around Rs 29 crore) to provide safe water access to communities in Karnataka, Andhra Pradesh and Kerala by December 2020.

    This would be spent through WaterAid, a global non-profit organisation, which would impact around 2 lakh people around its plants said a statement by PepsiCo Foundation, the philanthropic anchor of beverages major PepsiCo. PepsiCo India President & CEO Ahmed ElSheikh said:" PepsiCo Foundation's partnership with WaterAid supports our goal to improve water security for communities through Sustainable Access to Safe Water." 

    (PTI)

    Genesys International ropes in Moholkar as CEO

    New Delhi: Leading mapping, survey and geospatial firm Genesys International Corporation today appointed Kuldeep Moholkar as its chief executive, who was the chief operating officer of Wipro Japan before this appointment.

    Genesys, which specialises in geographical information system and geospatial engineering, focuses on offering solutions to both consumer application and enterprise side in state of art remote sensing, LIDAR, aerial survey and photogrammetry solutions. Genesys has been delivering services to clients in the US, Europe, New Zealand, the UAE and India the past 18 years with most of its client engagements running into multiyear relationships and operates seven geospatial production and software development centers in the country. 

    (PTI)

    IHCL to open Vivanta in Katra

    New Delhi: The Indian Hotels Company today said it will open a Vivanta property in Katra in Jammu with Delhi-based DMG Group. This announcement is aligned to our strategy of expanding our footprint and driving growth across popular pilgrimage and tourist destinations," the company said in a statement.

    The 80-keys hotel, spread over eight acres, is located 42 km from the Jammu airport and is the third IHCL branded hotel in the state. IHCL also manages the Vivanta Dal View in Srinagar and Ginger in Katra. The property has been run by the DMG Group an existing property and the owners will further invest around Rs 10 crore to bring the hotel to Vivanta brand standards by early 2019.

    (PTI)

    British PM May hopes lawmakers will back Brexit plan: Spokesman

    London: British Prime Minister Theresa May hopes lawmakers will back her proposal to offer them a say over a Brexit deal, her spokesman said on Tuesday, before a showdown in parliament over her plans to leave the European Union. 

    May cannot accept a competing proposal from Britain’s upper house of parliament because it would undermine the government’s ability to get the best possible deal with the EU, he said.  “We cannot accept the amendment on (a) meaningful vote agreed in the Lords. Agreeing to amendable motions would allow parliament to direct the government on its approach to exiting the EU, binding the prime minister’s hands and making it harder to secure a good deal for the UK,” he told reporters.

    (Reuters)

    Greece to get up to 15 billion euros after third bailout: German official

    Berlin: Greece will likely get up to 15 billion euros ($17.33 billion)for stabilisation after its third bailout programme ends in August so it does not have to borrow from the market, a senior German government official said on Tuesday. 

    The money will be taken from unused funds made available in Greece’s bailout, the official said. Germany did not consider a contribution of 1.6 billion euros from the International Monetary Fund (IMF) as compulsory, the official added. Additional measures for Greece must be approved by the budget committee of Germany’s Bundestag, the official said, adding that a vote on the matter by the lower house could be ruled out.

    (Reuters)

    Sensex falls 261.52 pts to end at 35,286.74

    New Delhi: Sensex falls 261.52 pts to end at 35,286.74; Nifty down 89.40 pts to 10,710.45. 

    (PTI)

    Ethiopia's Foreign Ministry says South Sudan's Kiir and Machar to meet on Wednesday

    Addis Ababa: South Sudan President Salva Kiir will meet his rival and former vice president Riek Machar in Addis Ababa on Wednesday, as part of talks to negotiate an end to a civil war that broke out in 2013, Ethiopia’s foreign ministry said. 

    “The meeting on South Sudan tomorrow will be held under the auspices of Prime Minister Abiy Ahmed with the aim of bridging gaps between President Salva Kiir and Riek Machar,” the ministry statement said, adding that Machar is expected to arrive in Ethiopia’s capital on Wednesday from South Africa.

    (Reuters)

    J&K Chief Minister resigns

    New Delhi: Jammu and Kashmir Chief Minister Mehbooba Mufti resigns.

    (PTI)

    "It has become untenable for BJP to continue in the alliance govt in JK

    New Delhi: "It has become untenable for BJP to continue in the alliance govt in JK," BJP Gen Secy Ram Madhav.

    (PTI)

    No question of forming alliance with PDP in Jammu and Kashmir

    New Delhi: No question of forming alliance with PDP in Jammu and Kashmir, says Cong leader Ghulam Nabi Azad.

    (PTI)

    Anadarko Mozambique staff told not to leave LNG site: Consultant

    Johannesburg: U.S. petroleum company Anadarko has placed staff working at its liquefied natural gas plant in northern Mozambique under “lock-down” due to the threat from suspected Islamist militants in the area, a regional security consultant familiar with the matter said on Tuesday. 

    “They can’t leave the site,” the consultant, who asked not to be named, told Reuters. Anadarko said last week it was monitoring the situation after a spate of beheadings and kidnappings but declined to comment on specific security issues.

    (Reuters)

    Turkish soldiers advancing on Iraq's Qandil with 'determined steps': Minister

    Ankara: Turkish troops are advancing with “determined steps” towards the northern Iraqi region of Qandil where Kurdish PKK militants are based, Foreign Minister Mevlut Cavusoglu said on Tuesday.

    Cavusoglu told broadcaster NTV that the timing of the operation against Qandil, which Turkish jets have targeted several times in recent weeks, was not linked to Sunday’s elections.

    (Reuters)

    EU court says Marine Le Pen should pay back EU Parliament funds

    Brussels: The EU’s second highest court on Tuesday upheld a decision by the European Parliament to recover 300,000 euros ($347,550) from far-right politician and former French presidential candidate Marine Le Pen.

    Le Pen, also a member of the European Parliament between 2009 and 2017, had been ordered to pay after Parliament found she had unduly claimed the sum for a parliamentary assistant. Le Pen had taken the case to the EU Court. “By today’s judgment, the Court dismisses Ms Le Pen’s action and confirms the Parliament’s recovery decision,” the General Court, the EU’s second-highest, said. Le Pen can still appeal the decision on points of law to the EU Court of Justice, the EU’s top court.

    (Reuters)

    Kenyan court orders release on bail of 43 suspects in $100 million graft case

    Nairobi: A Kenyan high court judge ordered on Tuesday the release on bail of 43 suspects in a $100 million graft case related to money lost at the government-run National Youth Service training scheme. 

    The suspects, who include public servants and private business people, are facing charges including abuse of office and conspiracy to commit an economic crime.

    (Reuters)

    UK government will not accept Lords proposal of 'meaningful vote': Source

    London: Britain’s government will not accept a proposal from the upper house of parliament which hands lawmakers greater power over a Brexit deal, a government source said on Tuesday, setting up a showdown over plans for a “meaningful vote”. 

    The source said on condition of anonymity that Prime Minister Theresa May would stick to her offer to the lower house of parliament for a vote to accept or reject any deal she wins in Brussels to leave the European Union.

    (Reuters)

    Turkish soldiers advancing on Iraq's Qandil with 'determined steps'

    Ankara: Turkish troops are advancing with “determined steps” towards the northern Iraqi region of Qandil where Kurdish PKK militants are based, Foreign Minister Mevlut Cavusoglu said on Tuesday. 

    Cavusoglu told broadcaster NTV that the timing of the operation against Qandil, which Turkish jets have targeted several times in recent weeks, was not linked to Sunday’s elections.

    (Reuters)

    We have submitted our resignation to JK Governor and Chief Minister: Dy CM Kavinder Gupta

    New Delhi: We have submitted our resignation to JK Governor and Chief Minister, and we are out of the alliance, says BJP leader and Dy CM Kavinder Gupta. 

    (PTI)

    CM Mufti to submit her resignation to the Governor shortly

    New Delhi: Chief Minister Mehbooba Mufti to submit her resignation to the Governor shortly, says senior PDP minister Naeem Akhtar. 

    (PTI)

    BJP pulls out of alliance government with PDP in J&K: Ram Madhav

    New Delhi: The Bharatiya Janata Party (BJP) on Tuesday pulled out of alliance government with Mehbooba Mufti's PDP in Jammu and Kashmir, said party's general secretary Ram Madhav.

    (PTI)

    Turkish PM says 30,000 Syrians who were granted citizenship will vote

    Ankara: Thirty thousand Syrians who have been granted Turkish citizenship will vote in Sunday’s presidential and parliamentary elections, Prime Minister Binali Yildirim was quoted as saying on Tuesday by broadcaster NTV.

    President Tayyip Erdogan’s government has granted citizenship to thousands of refugees who have fled the conflict in neighbouring Syria. Turkey is hosting around 3.5 million Syrian refugees.

    (Reuters)

    Ex-FIFA head Blatter flying to Moscow for World Cup - Spokesman

    Moscow: Banned former FIFA president Sepp Blatter will fly to Moscow on Tuesday, his spokesman told Reuters.

    Blatter plans to meet Russian President Vladimir Putin on Wednesday and watch Portugal play Morocco in a World Cup soccer match, the spokesman said.

    (Reuters)

    Kremlin says no plans for Putin-Trump meeting before Nato summit - Interfax

    The Kremlin said on Tuesday there are no plans for a meeting between U.S. President Donald Trump and Russian President Vladimir Putin before the NATO summit, Interfax news agency reported.

    Trump is expected to attend the NATO summit in Brussels on July 11-12.

    (Reuters)

     

    Japan's Princess Takamado seen in Russia's Saransk - Reuters witness

    Saransk, Russia: Japan’s Princess Takamado was seen in the Russian city of Saransk on Tuesday where she will watch the national team compete in the soccer World Cup later today.

    A Reuters witness saw Princess Takamado, whose visit is the first visit to Russia by a Japanese royal in over 100 years.

    (Reuters)

     

    ECB to take patient and gradual approach to rate hikes: Draghi

    Sintra: The European Central Bank will take a “patient” and “gradual” approach to raising interest rates as inflation in the euro zone recovers, its president said on Tuesday, adding he was happy with current market expectations.

    “We will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter,” Mario Draghi told an ECB conference in the Portuguese town of Sintra.“The path of very short-term interest rates that is implicit in the term structure of today’s money market interest rates broadly reflects these principles,” he added.Money markets currently price in the first hike to the ECB’s deposit rate in September 2019.

    (Reuters)

     

    Iran's Revolutionary Guards have no plans to increase missile range: Tasnim

    London: Iran currently has no plans to increase the range of its missiles, the head of the Revolutionary Guards said on Tuesday, noting that the current 2,000 km missile range was enough to protect the Islamic Republic.

    “We have the scientific ability to increase our missile range, but it is not our current policy since most of the enemies’ strategic targets are already within this 2,000 km range. This range is enough to protect the Islamic Republic of Iran,” Major General Mohammad Ali Jafari was quoted as saying by Tasnim news agency.

     (Reuters)

    British packaging firm DS Smith to raise $1.3 billion via rights issue

    London: UK-based packaging group DS Smith (SMDS.L) said on Tuesday it would raise around 1 billion pounds ($1.32 billion) via a rights issue, with the proceeds to partly fund its acquisition of Spanish rival Europac (PYCE.MC) for 1.9 billion euros ($2.21 billion).

    The fully underwritten, three-for-11 share capital raise will see the firm issue 293 million new shares at 350 pence per share, representing 27.3 per cent of its existing share capital and 21.4 percent of its enlarged share capital following the acquisition.  Goldman Sachs (GS.N) and JPMorgan (JPM.N) acted as joint bookrunners for the issue.

     (Reuters) 

    Foodgrain prices ruled steady

    Chennai: Prices of all commodities ruled steady in the wholesale foodgrain market here today.

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated otherwise): Thoor Dal Rs 6,700, Urad Dal Rs 6,700, Moong Dal Rs 6,900, Gram Dal Rs 4,500, Sugar Rs 3,600, Wheat Rs 2,900, Maida (90 kg) Rs 2,500 and Sooji (90 kg) Rs 3,000. 

    (PTI)

    Tokyo's Nikkei share average closes down 1.77 percent

    Japan's benchmark Nikkei average .N225 closed down 1.77 percent at 22,278.48 on Tuesday, while the broader Topix .TOPX shed 1.55 percent to 1,743.92.

    (Reuters) 

    Ashtead posts 17 percent rise in full-year underlying pretax profit

    Ashtead Group Plc (AHT.L), which rents out industrial equipment, reported a 17 percent rise in full-year underlying pretax profit on Tuesday, helped by growth in the core North America region. 

    The company said underlying pretax profit rose to 927.3 million pounds from 793.4 million pounds, for the year ended April 30 on a constant currency basis.Underlying rental revenue rose 21 percent to 3.42 billion pounds on constant currencies.

    (Reuters) 

    Ferguson's profit rises 17.1 percent, fuelled by US residential market

    Ferguson Plc (FERG.L), the world’s largest distributor of plumbing and heating products, on Tuesday posted a 17.1 percent rise in quarterly profit, helped by solid demand from U.S. residential markets. 

    The company said profit rose to 356 million pounds in the three months ended April 30 from 304 million pounds, a year earlier.The company said the current quarter had started well with organic revenue growth in line with the third quarter.

    (Reuters) 

    North Korea freight plane used during Kim-Trump summit lands in Beijing: Kyodo

    Beijing: A North Korean freight plane has landed in Beijing, Japan’s Kyodo news agency reported on Tuesday, amid reports that leader Kim Jong Un may soon visit China for the third time this year.

    The plane that landed in Beijing was used during the historic summit between Kim and U.S. President Donald Trump in Singapore last week, Kyodo reported. Japan’s Nikkei reported earlier on Tuesday that Kim could visit China as early as Tuesday. China’s foreign ministry did not respond immediately to a request for comment on whether Kim was visiting.

    (Reuters) 

    Japan steel lobby head fears growing trade spat may hurt global trade order

    Tokyo: The head of Japan’s steel industry group said on Tuesday he was worried that an escalating trade spat between the United States and China would lead to a collapse of order in global trade “at its core”.

    Rising trade tensions between the two countries were a matter of “great concern”, Japan Iron and Steel Federation Chairman Koji Kakigi told a news conference.  U.S. President Donald Trump threatened on Monday to impose a 10 percent tariff on $200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing. 

    (Reuters)

    Turkish air strikes kill 26 militants in southeast Turkey, Iraq: Army

    Istanbul: Turkish air strikes killed 26 militants and destroyed their gun positions, shelters and ammunition stores in southeast Turkey and northern Iraq this week, Turkey’s armed forces said on Tuesday. 

    The military said in a statement released on its Twitter account the air strikes were carried out on Sunday and Monday in Turkey’s Diyarbakir and Sirnak provinces and in the Avasin-Basyan area of northern Iraq, where the Kurdistan Workers Party (PKK) militant group has bases.

    (Reuters) 

    Dollar-yen falls 0.3 percent after Trump's comments on additional tariffs against China

    Tokyo: The dollar fell against the yen in early Asian trade on Tuesday after U.S. President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, fuelling trade war worries with Beijing.

    The currency last traded at 110.12 yen JPY=, down 0.4 percent on the day.

    (Reuters) 

    Kim Jong-un in China again

    Beijing: North Korean leader Kim Jong-un is on a two-day China visit from Tuesday, his third such trip to the country since March this year. The news was confirmed by the Chinese state media on Tuesday morning. 

    Kim's visit comes just after his historic meet with US President Donald Trump in on June 12 Singapore where the two leaders pledged to denuclearise the Korean Peninsula.  China is North Korea's sole ally.

    (IANS) 

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