Saturday Evening News Brief, August 19

Saturday evening brief Aug 19 2017
Good evening!
Here’s everything that transpired during the course of the day…
Six coaches of the Puri-Haridwar-Kalinga Utkal Express derailed in Muzaffarnagar’s Khatauli today. According to reports, at least 12 people were injured in the accident and have been rushed to a local hospital. The train was on its way to Haridwar from Puri in Odisha. The rescue operations are underway and the derailment is likely to affect train movements on the busy Northern Railway route.
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The JD(U) today warned of action against Sharad Yadav, if he attends Lalu Yadav’s rally. Speaking to reporters after the party’s national executive meeting at the CM’s official residence in Patna, the JD(U) general secretary KC Tyagi said, “if he attends RJD chief Lalu Prasad’s rally on August 27, he will cross the Lakshman Rekha.” Tyagi accused Yadav of indulging in anti-party activities, while adding that the party has not acted against Yadav because of his seniority.
Finnish police today said that Finland stabbing that left two people dead was a terror attack. The police said that the terror intent of the incident was confirmed in the light of new information receieved overnight. The police also said that they have six suspects in cutody and the main suspect is an 18-year-old Moroccan citizen. The police had shot the knife-wielding suspect on Friday, arresting him minutes after the stabbing rampage at Turku in southwestern Finland.
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The US formally initiated investigation of China’s intellectual property practices. The US Trade Representative (USTR) Robert Lighthizer said that he notified the President about the initiation of investigation under section 301 of the Trade Act of 1974. According to USTR, China uses a variety of tools and other mechanisms to regulate or intervene in US companies’ operations in China, in order to pressure the transfer of technologies and intellectual property to Chinese companies.
Reserve Bank Governor Urjit Patel today called for recapitalisation of state-run banks. Patel said that bad loans at 9.6 per cent of the system is not acceptable and recapitalisation of the banks can resolve the issue of Non Performing Assets. “Government and the RBI are in dialogue to prepare a set of measures to enable state-run banks to shore up the requisite capital in a time bound manner,” he said, adding that 86.5 per cent of GNPAs are accounted by large borrowers.
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