Brics Summit 2016: India, Russia sign 16 agreements across multiple sectors

Among the agreements signed were procurement of the S-400 air defence system and construction of 1135 series of frigates in India. (Source: Reuters) India and Russia on Saturday signed 16 agreements across multiple sectors following delegation-level talks co-chairedd by Prime Minister Narendra Modi and Russian President Vladimir Putin here. “New horizons in the #IndiaRussia partnership. PM Prez Putin witness exchange of 16 agreements and 3 announcements across fields,” External Affairs Ministry spokesperson Vikas Swarup tweeted following the 17th annual bilateral summit between the two countries. Among the agreements signed were procurement of the S-400 air defence system and construction of 1135 series of frigates in India. Another agreement was signed to set up a joint venture to manufacture helicopters. A memorandum of understanding (MoU) was signed for setting up…

US Chamber vows to work with Trump on wide array of key issues The nation’s largest business group on Monday vowed to work with Donald TrumpDonald TrumpBET founder: Trump ‘committed to reaching out’ to black Americans Argentine leader: Ivanka joined call with Trump Trump spokesman denounces racism amid 'alt-right' meeting MORE on a wide array of key issues they argue would grow the economy and create jobs. The U.S. Chamber of Commerce said in a letter sent to the president-elect that he must tackle everything from infrastructure to tax reform once in office. "The business community has been particularly encouraged by your comments concerning our country’s need to rebuild infrastructure, develop all forms of U.S. energy, reduce and reform taxes and remove unnecessary regulations and modernize the federal rulemaking system, the Chamber wrote is its final...

Setback for agriculture: Rabi sowing falls but officials say demonetisation not to blame Winter crops in the last two years were significantly below normal (2015-16 output was down 8% from 2013-14 level) and a bumper output was predicted for this year. (Reuters) Putting a serious question mark on the robustness of this year’s rabi production, wheat sowing was down 8.25% from normal until Friday. Also, with only two weeks to go before the sowing season ends, the area sown of all rabi crops was only two-thirds of the normal rabi area. Overall, sowing remained flattish till Friday, down 0.27% from the normal level, to be precise (see table). Winter crops in the last two years were significantly below normal (2015-16 output was down 8% from 2013-14 level) and a bumper output was predicted for this year. While analysts said the latest...

Demonetisation: Banks get about Rs 5.44 lakh cr worth of scrapped notes The banks also disbursed Rs 1,03,316 crore over the counter and via ATMs between November 10 and November 18, the Reserve Bank said in a statement. (PTI) People have exchanged and deposited over Rs 5.44 lakh crore worth of scrapped Rs 500/1,000 notes at different banks till November 18 following demonetisation of the higher denomination currency. The banks also disbursed Rs 1,03,316 crore over the counter and via ATMs between November 10 and November 18, the Reserve Bank said in a statement. Consequent to the announcement of withdrawal of legal tender status of banknotes of Rs 500 and Rs 1000 denominations from the midnight of November 8, 2016, the RBI had made arrangements for exchange and/or deposit of such notes. The facility was available at the counters of the Reserve Bank and commercial banks, Regional Rural banks and Urban...

Conventional and Islamic banks assets in Oman grow Muscat: Combined balance sheet of conventional and Islamic banks (other depository corporations) taken together, provides a complete overview of the financial intermediation taking place in the banking system in Oman.The total outstanding credit extended by the other depository corporations stood at OMR21.8 billion at the end of September 2016, a rise of 11 percent over the level witnessed a year ago. Credit to the private sector increased by 13.2 percent to OMR19.7 billion as at the end of September 2016 according to the bulletin published by the Central Bank of Oman (CBO).Of the total credit to the private sector, the household sector (mainly under personal loans) and the non-financial corporate sector got an equal share of 45.8 percent each, financial corporations at 5.1 percent and other sectors the remaining 3.2 percent...

Disney adding ‘Frozen’ land in $1.4b Hong Kong expansion Los Angeles: Walt Disney Co. is embarking on a $1.4 billion expansion of its Hong Kong Disneyland resort that will include the first “Frozen” and Marvel-themed lands in its parks. The six-year construction project, which will begin in 2018, will include two attractions based on the animated film “Frozen” and a related dining area, new rides tied to Marvel’s superheroes as well as entertainment additions to the existing Sleeping Beauty Castle. The expansion adds to planned growth at Disney’s parks division, its second-largest business after TV networks. The company opened its $5.5 billion Shanghai resort in June and announced on Saturday a summer 2017 opening date for its “Avatar” themed land in Orlando, Florida. Parks division revenue climbed 5 per cent to almost $17 billion last year...

Demonetisation: 7 new guidelines released by Modi government for exchange and withdrawal ... While encouraging families to incur wedding expenses through cheques or digital means, it has been decided to permit families celebrating weddings to draw up to Rs 2,50,000/- in cash. (PTI Photo) Demonetisation: Struggling to deal with growing anger among the public over cash crunch, the Modi government is issuing new guidelines every few days. These are based on public feedback and are aimed at reducing the problems that common man is facing, following the massive demonetisation drive. As per the fresh guidelines released today, the government has taken several decisions to facilitate farmers, small traders, Group ‘C’ Employees of Central Government including equivalent levels in the Defence and Para Military Forces, Railways and Central Public Sector Enterprises. To avoid misuse of the exchange facility, the government has reduced...

The God Algorithm Joey Camire, Strategist, Sylvain Labs What is the mechanism at play in the minds of the influenced? Over the past few years, our collective culture has been plunged time and time again into shock events that take us by complete surprise - unpredictable elections, Brexit, Arab Spring. Events where some influential individual, or a small group of them, affect a large swath of people in seemingly inexplicable ways. We’re desperate to understand influence, if for no other reason than to reduce the uncertainty in our lives. If we could see things coming, we tell ourselves, it wouldn’t be so jarring. However, one of the more interesting aspects of influence is that pundits are constantly focused on questions of process – the quiet machinations that happen behind the digital...