Thursday Evening News Brief, April 12

Thursday evening brief Apr 12 2018
Good evening!
Here’s everything that transpired during the course of the day…
Boeing has signed a pact to make F/A-18 Super Hornet fighter jets in India. According to the officials of the three companies, the discussions on the tie-up was going on for the last 18 months. “The intent of the government and the MoD (Ministry of Defence) for a strategic partnership is to produce ‘Make in India’ aircraft,” said Boeing India President Pratyush Kumar. Kumar informed that a joint venture company would be floated over the next few months and added that investments under the agreement will be “huge.” Read
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The US will restrict the movements of Pakistani diplomats in the country to within 25 miles of their posts from May 1. According to numerous Pakistani press reports, the Pakistani diplomats would have to take permission – at least five days in advance – to travel beyond 25 miles. A notice to this effect was apparently sent to the Pakistan embassy in Washington, although both the embassy and the US State Department have denied such restriction.
The International Monetary Fund chief has warned China of exporting debt to other countries through Belt and Road initiative. Christine Lagarde made the comments at a Beijing forum about China’s ambitious One Belt One Road initiative and said that these ventures can also lead to a problematic increase in debt, potentially limiting another spending as debt service rises, and creating a balance of payment challenges. “In countries where public debt is already high, careful management of financing terms is critical,” she said.
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Discus throwers Seema Punia, Dhillon won silver and bronze respectively at 2018 Commonwealth Games today. With this, the duo opened India’s medal account in athletics at the 21st Commonwealth Games. Punia came up with the best effort of 60.41m, which she did in her opening attempt to win her fourth successive CWG medal while Dhillon grabbed the bronze with her final throw of 57.43m. On the first day of wrestling competition, India’s Sushil Kumar, Rahul Aware won gold in the men’s freestyle 74kg and 57kg receptively, while Babita Kumari claimed silver in the women’s 53kg freestyle final.
Retail inflation, based on Consumer Price Index cooled to 4.28% in March compared to 4.44% in February. According to the government data, this is the third consecutive month where inflation softened after hitting a 17-month high in December. Experts believe inflation is likely to inch up in the coming months. In another set of data released by the government, industrial production in February slowed to 7.1 percent from 7.5 percent in January.
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