PM in UAE to strengthen ties; To be conferred highest civilian award

Agencies
August 24, 2019

Dubai, Aug 24: Prime Minister Narendra Modi on Friday arrived in the UAE where he will discuss bilateral and regional issues with the top leadership.

PM Modi reached UAE capital Abu Dhabi from Paris on the second leg of his three-nation tour to France, UAE and Bahrain.

During the visit, PM Modi will discuss bilateral, regional and international matters of mutual interest with the Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan, and also formally launch RuPay card to expand the network of cashless transactions abroad.

"Reached Abu Dhabi. Looking forward to holding talks with His Highness Crown Prince @MohamedBinZayed and discussing the full range of friendship between India and UAE. Deepening economic relations will also be on the agenda during this visit," PM Modi tweeted.

He will also receive the ''Order of Zayed'', the highest civilian decoration conferred by the UAE government.

From Abu Dhabi, PM Modi will visit Bahrain where he will hold talks with King Shaikh Hamad bin Isa Al Khalifa and also witness the formal beginning of the re-development of the temple of Shreenathji -- the oldest in the Gulf region before returning to France on Sunday to attend the G7 Summit meetings.

PM Modi's visit to Bahrain is significant as it will be the first visit of an Indian Prime Minister to the country. He would also meet and interact with the Indian diaspora during the visit.

Earlier in the day, PM Modi held bilateral meeting with his French counterpart Edouard Philippe and discussed issues of bilateral and mutual interests to further boost the comprehensive strategic partnership.

He also met UNESCO Director General Audrey Azoulay and addressed the Indian community at the UNESCO headquarters after inaugurating a memorial at the foothills of the Mont Blanc mountain in the honour of the victims of two Air India crashes in France in 1950s and 1960s in which several Indians, including Homi J Bhabha, regarded as the father of India's nuclear programme, were killed.

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News Network
May 22,2020

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them. 

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News Network
July 14,2020

Brasilia, Jul 14: Brazil has reported new 20,286 coronavirus cases in last 24 hours taking the country's total to 1.8 million, Sputnik reported citing the health ministry.

The country's death toll has increased by 733 in the same period of time. The death toll from the infection has touched 72,833.

Over 1.1 million people have recovered from COVID-19 in Brazil since the start of the epidemic in the country, according to the health ministry.

Brazil has the second-highest coronavirus death toll, it is surpassed only by the United States.

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News Network
March 6,2020

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.

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