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Thursday Morning News Brief, September 14

Sep 14, 2017
Thursday morning brief Sep 14 2017
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Here’s everything you need to know to start your day…
China signalled that it is unhappy with hawks demanding military action against India after the Doklam episode. “China and India are both neighbours and competitors, but not all competitors must be treated in the toughest way,” Maj Gen Qiao Liang, also military strategist, wrote in the Beijing-based Global Times. He also said the anti-India commentators do not have a “clear understanding of China’s strategic positioning”. Read

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Switzerland is no longer the preferred tax haven for Indians, according to the latest data. Over 53% of this Indian wealth is now held closer home in Asian tax havens like Hong Kong, Macau, Singapore, Bahrain and Malaysia. Swiss banks hold 31% of Indian wealth, down from around 58% in 2007.

The daily revision in petrol and diesel prices will continue despite a spike of Rs 7.3 per litre since July. “The government has no business to interfere in day to day operations of oil companies. If at all, efficiency is only areas government will interfere to improve operational efficiency of oil companies,” oil minister Dharmendra Pradhan said, terming the criticism of spike unfair.

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With Japan Prime Minister Shinzo Abe visiting Ahmedabad, PM Narendra Modi’s ‘personalized diplomacy’ is at its best. PM Modi took unprecedented interest in choosing the restaurant for the welcome dinner to deciding which historical monument to take Abe to. India is likely to finalize its first defence purchases from Japan, the US-2 amphibious plane that has been on the table for some years.

About 235 of India’s 630 districts face the prospect of drought as the monsoon is headed for a below-normal performance, so far. A majority of the distress districts lie in the hinterland, in a swathe running through Punjab, Haryana, Uttar Pradesh, Madhya Pradesh and Vidarbha. UP, Haryana and MP are the hardest hit states, showing rain deficits of 31%, 28% and 25%, respectively.

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