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Rupee tumbles 68 paise to 71.60/USD in early trade on sharp rise in crude prices

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The rupee tumbled by 68 paise to 71.60 against the US currency in early trade on Monday, as a sharp jump in global crude oil prices dampened investor sentiments.Forex traders said, market participants were concerned as the drone attack on Saudi Arabia’s oil facilities has stroked fiscal slippage concerns.Crude oil prices witnessed a sharp spike after a weekend drone attack on Saudi Arabia cut into global energy supplies and halved the kingdom’s oil production. Saturday’s explosions set off fires that engulfed the Abqaiq plant, the world’s largest oil processing facility,…

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NATIONAL NEWS NEWS CATEGORIES 

PM to visit Narmada dam on b’day to mark highest water level feat

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Prime Minister Narendra Modi, who turns 69 on Tuesday, will visit the site of the Gujarat’s Sardar Sarovar Dam on the Narmada river whose water level has reached its highest mark for the first time to celebrate the feat and kick off “Namami Narmade” festival.For the first time since the height of the dam was raised in 2017, the water level reached its highest peak at 138.68 metres on Sunday evening. The prime minister will land at Ahmedabad airport on Monday night. He will visit the dam site at Kevadiya…

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LEGAL NEWS NEWS CATEGORIES 

SC seeks report from J&K HC CJ on claims about people being unable to approach court

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Terming as “very very serious” the claim that people are finding it difficult to approach the Jammu and Kashmir High Court, the Supreme Court Monday decided to verify it by asking the Chief Justice there to “forthwith” submit a report in this regard.“If you are saying so, we are bound to take serious note of it. Tell us why it is very difficult for people to approach the high court. Is anybody stopping the people from going to high court? Then it is a very very serious issue,” a bench…

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BUSINESS NEWS CATEGORIES 

ChinDry spell in IPO market: Only 11 cos hit bourses this yr compared to 24 in 2018

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With just over three months to go for the year-end, only 11 companies have hit the capital markets so far in 2019 garnering over Rs 10,000 crore through initial share sales, much lower than 24 firms raising Rs 30,959 crore in entire 2018.The initial public offering (IPO) market is expected to remain challenging for the next few months as well due to volatility in markets on account of global and domestic factors, marketmen said.“The IPO market will continue to remain tough during the year. There has been steep correction in…

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NATIONAL NEWS NEWS CATEGORIES 

82 ex-MPs still to vacate official bungalows despite Lok Sabha panel warning

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Over 80 former MPs are yet to vacate their official bungalows in Lutyens’ Delhi despite a stern warning by a Lok Sabha panel, sources said.They said the government is contemplating to take action against these ex-MPs under the Public Premises (Eviction of Unauthorised Occupants) Act for their speedy eviction.On August 19, the Lok Sabha Housing Committee headed by C R Patil had ordered around 200 ex-MPs, who did not vacate their bungalows, to give up the facility within a week and disconnect their power, water and cooking gas connections within…

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NEWS CATEGORIES WORLD NEWS 

Embattled Israeli PM fights for survival in do-over election

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A visibly frantic Prime Minister Benjamin Netanyahu is in the fight of his political life as the country heads to national elections for the second time this year.With Netanyahu locked in a razor tight race and facing the likelihood of criminal corruption charges, a decisive victory in Tuesday’s vote may be the only thing to keep him out of the courtroom. A repeat of the deadlock in April’s election, or a victory by challenger Benny Gantz, could spell the end of the career of the man who has led the…

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BUSINESS NEWS CATEGORIES 

China to lift punitive tariffs on US soybeans, pork

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China will lift punitive tariffs imposed on US soybeans and pork in a trade war with Washington, a state news agency said Friday, adding to conciliatory gestures by the two sides ahead of negotiations.China will suspend tariff hikes on soybeans, pork and some other farm goods, the Xinhua News Agency said, citing the Cabinet planning agency and the Commerce Ministry.Beijing “supports domestic companies in purchasing a certain amount of US farm produce,” it said, but it gave no details.The move follows President Donald Trump’s decision Wednesday to postpone a planned…

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NEWS CATEGORIES SPORTS 

Kohli on Dhoni’s future: He cares for Indian cricket and is on same page with us

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Mahendra Singh Dhoni has always put the interest of Indian cricket in mind and is “on same page” with the team management as far as his international future is concerned, skipper Virat Kohli said on Saturday.On the eve of the T20 International series against South Africa, Kohli maintained that the 38-year-old Dhoni will “remain valuable” as long as he continues playing the game even as team management grooms youngsters like Rishabh Pant.”One great thing about him (Dhoni) is that, he thinks for Indian cricket. And whatever we (team management) think,…

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NATIONAL NEWS NEWS CATEGORIES 

FM announces Rs 70,000 cr package for exports, real estate sectors to boost growth

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Finance Minister Nirmala Sitharaman on Saturday announced an over Rs 70,000 crore package for the exports and real estate sectors, including setting up of a stressed asset fund, as the government continued with firefighting measures to pull the economy out of a six-year low growth rate.A Rs 20,000 crore fund, with government putting in half of the amount, will be set up to provide last-mile funding for housing projects that are not in bankruptcy court or already tagged as bad debt, she said at a press conference here to announce…

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NEWS CATEGORIES WORLD NEWS 

Former PM Cameron ‘sorry’ for Brexit divisions

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The British prime minister who called the Brexit referendum and then saw the public vote to leave the European Union says he is sorry for the divisions it has caused.David Cameron said in an interview published Saturday that he thinks about the consequences of the Brexit referendum “every single day” and worries “desperately” about what will happen next.”I deeply regret the outcome and accept that my approach failed,” he said. “The decisions I took contributed to that failure. I failed.”He admitted that many people blame him for the Brexit divisions…

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