Chanda Kochhar to face ICICI Securities shareholders today at AGM

The resolution comes in the face of the conflict of interest for clearing loans to Videocon group which, in turn, invested in Nupower Renewables, a firm owned by Kochhar's husband

ICICI Securities shareholders will vote on ICICI Bank MD & CEO Chanda Kochhar's candidature as a director at the annual general meeting in Mumbai on Thursday. The resolution comes in the face of the conflict of interest for clearing loans to Videocon group which, in turn, invested in Nupower Renewables, a firm owned by Kochhar’s husband, Deepak Kochhar. The allegations are being investigated by Sebi, the CBI and the I-T department. Here are some proxy firms’ recommendations:

Glass Lewis: Vote: AGAINST

"There are significant legal and regulatory issues involving the company's non-executive chair nominee Chanda Kochhar. We believe shareholders should be concerned about the matters facing Kochhar, which includes her being forced to take a leave of absence from the ICICI Bank board, pending the outcome of the investigation into her conduct. While the issues pertain to the parent company, ICICI Bank, the mere fact that she has been forced to take leave may be representative of serious lapses of governance issues that carry reputational risk issues which may negatively impact the company.

 

Google may steal Amazon, Flipkart's Diwali bonus; set for e-commerce debut

The company is also going to offer consumers instant loans on its platforms and has partnered four banks

It’s official. Google will make its debut in India’s e-commerce and retail ecosystem this Diwali via its payments platform, Tez, rechristened Google Pay .

From tying up with more than 2,000 e-commerce companies, including big names such as cab aggregator Uber and movie ticketing platform BookMyShow, to adding about 1.2 million offline merchants, including the likes of Big Bazaar, Google is on a hyperdrive to create an ecosystem where everything will hinge on the payments app. The company is also going to offer consumers instant loans on its platforms and has partnered four banks — HDFC, ICICI, Kotak Mahindra and Federal Bank.

According to Google, a pre-approved loan limit for individuals, based on their bank account and Tez transaction history, will be set. The app’s users will get the money deposited directly into their bank accounts.

The technology giant rebranded its made-in-India Tez app, launched in September last year, as Google Pay, with an eye on expanding the platform to other markets. Read More

 

SpiceJet tests India's first biofuel-powered flight. Will it change flying?

Ajay Singh said: It has the potential to reduce our dependence on traditional aviation fuel by up to 50 per cent on every flight and bring down fares

No-frills airline SpiceJet on Monday operated India's first test flight powered by biojet fuel, marking a new chapter in the fast-growing domestic aviation sector.

The nearly 45-minute flight from Dehradun to the national capital was operated with a Bombardier Q400 aircraft, partially powered by biojet fuel made from Jatropha plant, according to an airline official. The flight landed at around 1150 hours here.

With the test flight, India has become one of the few countries and probably the first among the developing nations to use biofuel for flying planes.

SpiceJet on Monday said it has successfully operated "India's first ever biojet fuel flight".

It also comes at a time when the airline industry is grappling with spiralling fuel prices that are impacting their profitability. However, use of biofuel for regular flights would take some time.

For the test flight, which carried 28 people, including five crew members, the aircraft's right engine was filled with 75 per cent aviation turbine fuel (ATF) and 25 per cent of biojet fuel, made from Jatropha plant, the airline official said.

The fuel was prepared by the CSIR-Indian Institute of Petroleum (IIP), Dehradun. The institute's Director Anjan Ray said around 330 kg of biojet fuel was made for the little over 40-minute flight.

Noting that it was a "historic occasion" to operate the test flight, SpiceJet Chairman and Managing Director Ajay Singh said India is the first among developing countries to fly flight powered by biojet fuel. Read More

 

Akshay Kumar, Salman Khan among top-10 highest paid actors in Forbes list

Akshay, who was 10th last year, upped his game by $3 million. Khan stayed at his ninth rank, but with an increase of $1.5 million in his earnings for this year

Akshay Kumar has emerged as the seventh highest-paid actor in the world. He earned $40.5 million in 2018, according to Forbes magazine. The Gold actor is closely followed by his contemporary Salman Khan in the ninth place, who raked in $38.5 million. Akshay and Salman are the only two Bollywood actors to make it to the top 10 highest-paid actors’ list compiled by the publication.

Akshay, who was 10th last year, upped his game by $3 million. Khan stayed at his ninth rank, but with an increase of $1.5 million in his earnings for this year. Shah Rukh Khan, who was at the eighth spot in 2017, did not find a place in the list this year Read More

 

Veteran journalist, author and diplomat Kuldip Nayar passes away at 95

Nayar died at around 12.30 am at a private hospital, his elder son Sudhir Nayar said

Veteran journalist Kuldip Nayar passed away in New Delhi on Thursday, a member of his family said. He was 95.

Nayyar died at around 12.30 am at a private hospital, his elder son Sudhir Nayar said.

He is survived by his wife and two sons.

Nayar started his career as an Urdu press reporter. He was editor of Delhi edition of English newspaper The Statesman.

Nayar had served as High Commissioner of India to the United Kingdom (UK). He was also nominated as a member of the Upper House of Parliament in 1997.

He was also the author of more than 15 books including, Beyond the Lines, Distant Neighbours: A Tale of the Subcontinent, India after Nehru.

His last rites will be performed at Lodhi crematorium.

Read Full Story → Kuldeep Nayyar

 

WhatsApp to trace the origin of fake messages, set up servers in India

The instant messaging platform had earlier expressed inability in tracing the origin of messages citing privacy of consumers

With the government threatening action against WhatsApp over spread of fake news, the chief executive officer (CEO) of the American messaging platform, Chris Daniels, flew down to New Delhi to fix things.

Daniels, who took over as the boss of WhatsApp in May, on Tuesday told the government it would work out a technological solution to trace the origin of fake messages. The Facebook-owned firm, with more than 200 million active subscribers in India, also committed to complying with the Reserve Bank of India (RBI) rules relating to local storage of financial data by having servers in India.

Daniels, a Facebook insider known for running Internet.org at the California-based social media firm, has been firefighting with the Indian authorities over fake news soon after he was appointed as the WhatsApp boss. Following an exchange of letters with the Department of Information Technology on the steps to block fake news, the WhatsApp team decided to meet the authorities in person to list out the corrective measures planned by the company. In the country for three to four days, the team would meet other ministers and bureaucrats as well. It could not be confirmed if a meeting with Prime Minister Narendra Modi was scheduled.

Within hours of his interaction with Daniels, Electronics and Information Technology Minister Ravi Shankar Prasad was off to Argentina for an ICT conference. From there, he will travel to Silicon Valley, which houses several prominent tech companies including WhatsApp. The minister is scheduled to meet top executives of many tech companies including Google during his US trip. Read Full Story

 

Ind vs Eng 3rd Test Day 3 highlights:Kohli's 103 help Ind to set 521 target

Virat Kohli hit his 23rd century and put 119-runs stand for 3rd wicket with Cheteshwar Pujara (72) to put India in a commanding position in 3rd Test

On Day 3 of third Test of 5-match series, England were 23 for no loss in their second innings while chasing a mammoth 521 runs for victory against India at Trent Bridge in Nottingham on Monday. Courtesy skipper Virat Kohli's (103) 23rd century, his second ton of the series, India declared their second innings at 352 for seven, leaving the hosts an improbable victory target of 521 runs to chase with two full days play remaining in the match.

At stumps, Keaton Jennings was batting on 13, while Alastair Cook was unbeaten on 9. Earlier, Indian captain Virat Kohli hit his 23rd century in post Tea session to put India in a commanding position. At tea India were 270/3, taking their overall lead to 438 runs against England at Trent Bridge in Nottingham.

Kohli and Rahane (17) were at the crease when umpires dislodged the bails for the session. After missing the century by three runs in the first innings, Kohli is seven runs short of his 23rd Test ton. Cheteshwar Pujara (72) was the only batsman to be dismissed in the second session.

He was sent packing by pacer Ben Stokes when scorecard was reading 224. Kohli continued his impressive run while Cheteshwar Pujara finally found some form as India reached 194 for 2 at lunch, consolidating their lead to 362 against England at Trent Bridge in Nottingham. Kohli (56 batting) and Pujara (54 batting) put on 83 for the unbroken 3rd wicket stand slowly putting the visitors in an unassailable position. Starting from overnight 124-2, India had perfect conditions for batting on a humid and warm day in Nottingham.

The two batsmen looked to grind and play for time with no hurry whatsoever. It could be seen in the manner Pujara took his sweet time to get going, even as Kohli set off quickly for the day. They scored 70 runs during the wicketless session.

Video: India cricket Team led by captain Virat Kohli at Stumps

 

Oppo F9 Pro launch today: Watch livestream, know expected features, specs

The Oppo F9 Pro would features a water drop notch-based screen and gradient colour design. It would also feature the VOOC flash charge

Oppo, a Chinese smartphone manufacturer, is gearing up for the launch of the Oppo F9 Pro today i.e. August 21. The smartphone would feature a tiny notch-based screen and gradient colour design, similar to the Realme 1. The phone would also feature the VOOC flash charge, an enhanced version of Oppo’s proprietary fast charge technology that can provide up to two hours of talk time in five-minute charge, the company’s claimed.

OPPO F9 PRO FEATURES

First introduced in the Oppo Find X Lamborghini edition, the VOOC charge is a fast charging technology that uses a low voltage and high amp configuration to transfer more power from charger to the device. The charger uses a standard configuration of 5V/4A to achieve a charging speed that are 4 times faster than conventional 5V/1A charging technology. Read More

 

Kerala flood LIVE: 370 dead; 1st commercial plane lands at Kochi naval base

Commercial flight operations from Naval airport at Kochi commenced today with the first Air India flight from Bengaluru arriving this morning

Kerala floods : The situation in the flood-ravaged state was gradually improving, even as some rainfall was forecast for the coastal state from Monday onwards. According to the Indian Meteorological Department, “heavy rainfall” is expected only in Kozhikode, Kannur and Idduki districts over the next four days. However, even as water recedes from major areas, authorities are gearing up to deal with the possible outbreak of water-borne and air-borne diseases.

Commercial flight operations from the Naval airport at Kochi commenced today with the first Air India flight from Bengaluru arriving this morning. It is after 18 years that civilian flights are landing and taking off from the naval airport.

The Indian Railways said that two special trains will be run on Monday from Thiruvananthapuram and Ernakulam to Kolkata and that the train services are expected to be restored on all lines in Kerala by Monday evening. The Railways would also provide blankets and bedsheets to the affected people in Kerala.

In the worst ever torrential rains in Kerala in this monsoon season, 370 lives have been lost and 724,649 persons evacuated to 5,645 camps so far.

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Priyanka Chopra welcomes Nick Jonas, his parents in Mumbai

Actress Priyanka Chopra welcomed her American singer beau Nick Jonas and his parents, fuelling rumours that they will be reportedly formalising their relationship with an engagement party.

Nick, dressed in an all-black attire with a gold chain, stepped out of the Chhatrapati Shivaji International Airport here late on Thursday night, flanked by his parents -- mother Denise and father Kevin Jonas Sr -- and a security entourage as the paparazzi welcomed him with loud cheers of "Welcome to India, Nick".

Priyanka is reportedly going to host a party on Saturday when her family members, including her mother Madhu and brother Siddharth, will meet Nick's kin.

As they made their exit, the Jonas patriarch had a big Tiffany & Co. bag in his hand. Tiffany is the jeweller that closed down its London store for Nick to buy an engagement ring for Priyanka, according to PEOPLE.com | Celebrity News, Exclusives, Photos, and Videos.

According to international media reports, the two got engaged over Priyanka's birthday last month.

Read More On → priyanka chopra engagement