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Monday Morning News Brief, October 23

Oct 23, 2017
Monday morning brief Oct 23 2017
Good morning!
Here’s everything you need to know to start your day…
Prime Minister Narendra Modi said government would maintain financial stability while initiating economic reforms. “After the reforms and hard decisions, the economy of the country is on track and in the right direction. We will take all necessary steps to increase investments and bring in economic development,” Modi said, addressing a rally in Dahej, Gujarat. Referring to GST, the Prime Minister said the number of traders joining the new indirect tax regime was increasing every day.
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The People’s Liberation Army expressed satisfaction over the resolution of Doklam standoff with India. “It is “safely solved” right now. We reiterated very clearly Chinese position and all of these actually contributed to the peaceful resolution of China-Indian cross border conflict,” said PLA official Liu Fang. The standoff ended on August 28 with mutual understanding after China halted the construction of the road.
India yesterday defeated Malaysia 2-1 in a nail-biting final to clinch their third Asia Cup hockey title. India, which won the Asia Cup last time in 2007 in Chennai, scored from field efforts through Ramandeep Singh (3rd minute) and Lalit Upadhyay (29th) to dash Malaysian hopes. Malaysia were in summit clash for the first time since tournament’s inception.
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External Affairs minister Sushma Swaraj said normalcy would only be restored with the return of the displaced refugees to Myanmar. Recalling India’s efforts to help Bangladesh deal with the situation resulting from the arrival of refugees from Myanmar, Swaraj said India was deeply concerned at the spate of violence. “We have urged that the situation be handled with restraint, keeping in mind the welfare of the population,” she added.
Sebi launched probe into a scam which involves agents making an earning by transferring shares from account of a deceased holder. These agents use unlawful means to get hold of shares unclaimed by legal heir of the deceased, convert them into demat (shares into electronic form) mode to sell in the market, transfer the funds into bank accounts set up for the purpose, and make cash withdrawals.
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