CORONA VIRUS: Beijing authorities on Monday reported the Chinese capital’s first death from a new deadly virus that has rapidly spread across the country, killing more than 80 people and causing global alarm. The victim was a 50-year-old man who had visited the central city of Wuhan, the epicentre of the outbreak, on January 8 and developed a fever after returning to Beijing seven days later, the city’s health commission said.
LS SPEAKER: Ahead of the European Parliament taking up six resolutions on the Citizenship (Amendment) Act which the two largest groups of its members fear can potentially create a “statelessness crisis”, Lok Sabha Speaker Om Birla on Monday said it is “inappropriate for one legislature to pass judgement on another and the practice can be misused by vested interests”.
AP LEGISLATIVE COUNCIL: The Andhra Pradesh cabinet on Monday approved the draft bill to abolish the state’s Legislative Council. The cabinet meeting Monday felt that the opposition Telugu Desam Party (TDP) was misusing its majority in the Legislative Council to halt bills passed by the Legislative Assembly.
AIR DISINVESTMENT: The government on Monday announced sale of 100 per cent stake in debt-laden Air PRELIMINARY INFORMATION MEMORANDUM for the strategic disinvestment with the deadline for submitting expression of interest set as March 17. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per bid document issued on Monday. Management control of the airline would also be transferred to the successful bidder.
AIRCRAFT CRASHED: A US military aircraft crashed in eastern Afghanistan on Monday, a Taliban spokesman and Afghan journalist affiliated with the militant group said. A US Army spokeswoman declined to comment on the Taliban claim, but video from the crash site circulating on social media appeared to suggest the aircraft was a US Air Force electronic surveillance plane.
ASSAM ACCORD: The government on Monday signed an accord with one of the dreaded insurgent groups of Assam — the National Democratic Front of Boroland (NDFB) — providing political and economic bonanza. The All Bodo Students’ Union (ABSU), which has been spearheading a movement for a Bodoland state was also signatory to the accord. The tripartite agreement was signed by Assam Chief Minister Sarbananda Sonowal, top leadership of the four factions of the NDFB, ABSU, Joint Secretary in the Home Ministry Satyendra Garg and Assam Chief Secretary Kumar Sanjay Krishna in presence of Union Home Minister Amit Shah.
DHFL PROMOTER ARRESTED: The Enforcement Directorate (ED) on Monday arrested Dewan Housing Finance Corporation (DHFL) promoter Kapil Wadhawan in connection with the money laundering probe against late gangster Iqbal Mirchi under the Prevention of Money Laundering Act (PMLA), official said. DHFL came under the ED’s scanner when the agency was examining three properties linked to Mirchi who was an aide of fugitive underworld don Dawood Ibrahim. Earlier in the day, Wadhawan arrived at the ED’s office where he had been called for questioning.
AMAZON: Hundreds of Amazon employees Sunday openly criticised the online retail giant”s environmental record, in violation of the company”s communications policy. More than 300 signed a Medium blog post by Amazon Employees for Climate Justice (AECJ), which is pushing the company to go further in its climate change mitigation plan which was announced with great publicity in September.
BENGAL ANTI-CAA RESOLUTION: West Bengal Monday became the fourth state to pass a resolution against the contentious Citizenship Amendment Act. Moved by Parliamentary Affairs Minister Partha Chatterjee in the state Assembly, the resolution appeals to the Union government to repeal the amended citizenship law and also to revoke plans to implement NRC and update NPR, as per PTI.
INDIAN RAILWAYS: Indian Railways is expected to run 100% on electricity by 2024, according to Union minister Piyush Goyal. The government also aims to make the entire network ‘zero net emission’ by 2030. Goyal publicly stated the government’s targets at the India-Brazil Business Forum. The conclave was organised during Brazil President Jair Bolsonaro’s India visit. A day earlier, Bolsonaro had attended the 71st Republic Day Parade as the Chief Guest.
MARKET TODAY
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COMMODITY DERIVATIVES: Markets regulator Sebi on Monday rationalised margin framework for the commodity derivatives segment, wherein clearing corporations will have to categorise commodities as per their realised volatility. In addition, clearing corporations have been asked to prescribe floor values of initial margin as well as margin period of risk (MPOR) depending upon their categories, the Securities and Exchange Board of India (Sebi) said in a circular.