Friday morning news brief, May 19 2017

Friday morning brief May 19 2017
Good morning!
Here’s everything you need to know to start your day…
Breach of ICJ order on Kulbhushan Jadhav will invite UNSC action against Pakistan. Senior lawyer Harish Salve said, every interim order and ruling of the international court gets placed before the UN Security Council, and any violation invites serious action. The ICJ yesterday unanimously stayed Jadhav’s execution, and Pakistan will have to wait till a final verdict is delivered. Read
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The GST Council has set rates that may lower prices for a majority of products of mass consumption. This will ensure that the impact of GST is not inflationary. Rates on 1,211 items were finalised by the GST council with 81% facing a levy of up to 18%. Taxes on items such as sugar, tea, coffee and mithai as well as consumer durables have been lowered.
At least 10 people are feared to have drowned in the Zuari river in Goa after a bridge collapse. A 30-metre span of a steel footbridge collapsed on Thursday evening at Sanvordem, 60km from Panaji. Onlookers crowded on the footbridge ignoring warnings, to watch the operation of a floating body being rescued from the waters when the structure gave way.
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Documents recovered by ED reveal that Karti Chidambaram’s close aides were the top officials in a company that was under his control. The wife of Karti’s close aide S Bhaskararaman, was made a promoter and director of Advantage Strategic Consulting Pvt Ltd to conceal the real identity of people controlling the business. Documents suggest, Karti was the ‘ultimate beneficiary’ of the company now under CBI probe for FIPB approval to INX Media.
LIC will pay 40% higher bonuses and dividends to the government and its customers, respectively, in 2016-17. The Corporation has been able to maintain solvency ratio of 154.7% against the statutory requirement of 150%. It has allocated Rs 47,387.4 cr as reversionary bonuses with profit to policy holders and paid Rs 2,494.1 cr to the government towards its share of surplus on within the country business.
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