In a significant development, sources in the government said Prime Minister Narendra Modi and Chinese President Xi Jinping would be in attendance when leaders of BRICS nations meet on July 7 in Hamburg, Germany, on the sidelines of the G-20 Summit. The attendance for both the leaders at the event can lead to a pull aside or an interaction that could also be an opportunity to discuss the situation over the stand off in Sikkim, and take steps for de-escalation.
Israeli Flower named after PM Narendra Modi
PM Narendra Modi visited the Danziger “Dan” flower farm along with its Israeli counter part Benjamin Netanyahu in Mishmar Hashiva. A new-fast growing Israeli flower was named after Prime Minister, Narendra Modi, in a special gesture to mark the first visit of an Indian premier to the Jewish nation. Israeli Crysanthumun flower will now be called “MODI”. Advanced agricultural technologies were showcased by the Israeli government in the Danziger Flower Farm. The farm founded in 1953, is located in Moshav Mishmar Hashiva, about 56 km from Jersualem, in central Israel.
North Korea’s First ICBM Test Successful
US President Donald Trump hit out at North Korean Leader Kim Jong-Un for testing the country’s first Inter-continental ballistic Missile that could hit targets anywhere in the world and nudged China to make a “heavy move” to end this nonsense once and for all. The announcement on North Korea state television said the successful Hwasong-14 missile test was over by Kim. It said the projectile had reached an altitude of 2802 km and flew 933 km for 39 minutes before hitting a target in the Sea of Japan. The altitude achieved by the missile was the highest ever reached by a North Korean Missile. This was North Korea’s 11th missile test this year and comes amid increasing frustration from US President about the lack of progress in curbing Pyongyang’s Ballistic missile programmes.
Restrictions on cash dealing of Rs. 2 lakh or more will not apply to credit card payments, business correspondents appointed by banks and issuers of prepaid instruments. The Finance Act, 2017 banned cash transaction of Rs. 2 lakh or above with effect from April 1, 2017. However, some exceptions were made. These included receipts by a business correspondent on behalf of a banking company, or co-operative bank’ and receipt by a company or institution issuing credit cards against bills raised in respect of one or more credit cards.
Receipt from an agent by an issuer of pre-paid payment instruments, receipt by a white-label ATM operator from retail outlet, and receipt which is not includible in the total income under clause (17 A) of Section 10 of the IT Act, 1961, have been excluded from the purview of the Section 269ST.
Sun Pharma and Samsung inks $55.5-m Pact
Drug major Sun Pharma and South Korean firm Samsung BioLogics announced a long term manufacturing agreement for tildrakizumab to be used for treatment of psoriasis. The agreement was entered into by Sun Pharma’s wholly-owned subsidiary and Samsung Biologics.
Rs. 200 Notes to be Out by Year- End
The Reserve Bank of India is expected to introduce Rs. 200 notes in the coming months to ease pressure on lower-denomination currencies that are in short supply. The new notes of Rs. 200 should be out before the end of 2017and will greatly help in narrowing the demand and supply gap in smaller denomination currency bills. There is no immediate plan to re-introduce Rs. 1000 notes. The Central Bank had reportedly decided to bring in Rs. 200 notes in March after consulting the Finance ministry.
After Jhulan Goswami became world’s highest ODI wicket-taker, India skipper Mithali Raj is close to becoming the highest run-getter in ODIs . 87 runs are needed by Raj for the record as India face Sri Lanka in their world cup match in Derby. It will be the first time two Indians, men or women, hold top positions in batting and bowling in Test or ODIs. Raj also holds the record of making seven consecutive 50s in ODIs.
Vikram Limaye may take charge as Chief Executive Officer and Managing Director of the National Stock Exchange of India on July 17. Mr. Limaye would join NSE on 17th of this month, depending on whether the Supreme Court approves his decision to step down from Board of Control for Cricket in India (BCCI) on 14 July.
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