WILL DISCUSS COVID RECOVERY, CLIMATE CHANGE ISSUES AT G20, COP26: PM MODI

Ahead of his visit to Italy and the UK to attend the G20 and COP26 meetings, Prime Minister Narendra Modi Thursday said he will hold discussions on global economic and health recovery from the pandemic in Rome and highlight equitable distribution of carbon space in Glasgow.

In his departure statement, PM Modi said he will be visiting Rome and the Vatican City from October 29-31 at the invitation of Italian Prime Minister Mario Draghi, following which he will travel to Glasgow in the UK from November 1-2 at the invitation of UK Prime Minister Boris Johnson.

“In Rome, I will attend the 16th G20 Leaders’ Summit, where I will join other G20 leaders in discussions on global economic and health recovery from the pandemic, sustainable development, and climate change,” the PM said, noting that this will be the first in-person summit of the G20 since the outbreak of the pandemic.

“During my visit to Italy, I will also visit the Vatican City, to call on His Holiness Pope Francis and meet Secretary of State, His Eminence Cardinal Pietro Parolin,” Modi said.

NEW LAW WON’T AFFECT BOUNDARY PACTS: CHINA

Responding primarily to concerns flagged by India, China on Thursday said its new land boundary law would not affect the existing treaties on this issue with other countries.

“The law won’t also change China’s current mode of boundary management and cooperation with countries sharing land boundary with it. Nor will it alter China’s position and proposition on relevant boundary issues,” said Chinese Ministry of Foreign Affairs spokesperson Wang Wenbing at a briefing. Asked to respond specifically to Indian MEA’s concerns, Wang said, “I just shared China’s consideration behind promulgating the law. We hope relevant countries will abide by norms of international relations and refrain from wanton speculations on China’s normal domestic legislation.”

The law had clear provisions on conducting cooperation with countries sharing a national land boundary with China and handling boundary affairs on the basis of adhering to relevant treaties related to national land boundary affairs and the principle of equality and mutual benefit, said Wang on being asked the rationale for the National People’s Congress of China approving the National Land Boundary Law on October 23.

ATTACKS ON HINDUS: PLOY TO CREATE ANARCHY, SAYS BANGLADESH MINISTER

Holding Opposition Bangladesh Nationalist Party (BNP) and the Jamaat, among others, responsible for fomenting communal tension in the country, Bangladesh’s I&B Minister M Hasan Mahmud on Thursday said recent attacks on people from minority Hindu community there was a ploy by fundamentalists to destabilise the country and create anarchy.

Addressing the media at Kolkata Press Club, Mahmud said the Sheikh Hasina govt has taken “tough action” against perpetrators of these attacks and asserted that his govt aims to root out communalism and fundamentalism.

He said: “(In 1971), some people close to Pakistan had opposed our liberation war. Their descendants are still there…. Some parties such as BNP and Jamaat cash in on communalism; they believe in communalism…”

Asked about violence against people from Hindu community, Mahmud said: “One person put a Quran in a (Durga) puja mandap; some people videographed that and put it up on social media.”

Subsequently, he said, “some atrocities took place in different parts of Bangladesh — our govt has taken tough action against all culprits.”

MULLAPERIYAR DAM ISSUE: SC STEPS IN

On Thursday, the Supreme Court directed that the maximum water level in Mullaperiyar dam should be 139.50 ft until November 10. The dam is at the centre of a decades-old dispute: for Kerala, where it is situated, the dam presents a threat to lakhs living downstream; and for Tamil Nadu, which controls the dam, the water it provides is the lifeline of people in five districts.

The dam is located in the upper reaches of the river Periyar, which flows into Kerala after originating in Tamil Nadu. The water diverted from the reservoir is first used for power generation in lower Periyar ( by Tamil Nadu) before flowing into the Suruliyar, a tributary of Vaigai river, and then for irrigating nearly 2.08 lakh hectares in Theni and four other districts farther away.

The Supreme Court order on Thursday came after a court-appointed supervisory committee had suggested 139.50 ft as the permissible level. The court has directed both states to go by the committee’s recommendation. Tamil Nadu had wanted the level increased to 142 ft as fixed by the Supreme Court in 2014, while Kerala wanted it within 139 ft as per a rule curve fixed until the end of the month.

What has revived the dispute is the unusual rains in the last couple of weeks.

KEY COVID NUMBERS

Current Active Cases Countrywide: 1,55,180

New Cases in last 24 hours: 14,318

Recovered in last 24 hours: 13,223

Change in no. of Active cases in last 24 hours: +292

No. of deaths in last 24 hours (Total Covid Deaths so far): 803 (4,57,221)

Daily Tests (Wednesday): 12,90,900

Daily Positivity Rate (Proportion of Positives among total Tested): 1.1%

Percentage of Population Vaccinated (At Least One Dose / Two Doses): 54.3% / 23.8%

INTERNATIONAL AFFAIRS

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PAK PM CALLS NSC MEET TODAY TO CHECK TLP MARCH

Pakistan’s PM Imran Khan has called a meeting of the National Security Committee (NSC) on Friday to chalk out a strategy for tackling the ongoing protests by the Tehreek-i-Labbaik Pakistan (TLP), a far-right proscribed group. Continuing with its protest march, the TLP crossed Gujranwala on Thursday in an attempt to force the govt to release its incarcerated chief, Saad Hussain Rizvi.

Guarded by stick-wielding activists, more than 5,000 TLP workers are on the way to Islamabad in large trucks and buses. They also want the govt to snap diplomatic ties with France over comments by French President Macron last October that were interpreted by many as Islamophobic. Meanwhile, police and personnel from Pakistan Rangers took positions near the Chenab river to stop the procession. Pakistan’s minister for information and broadcasting, Fawad Chaudhry, said the NSC meeting has been summoned in light of the situation arising out of the illegal activities by the banned group.

CHINA SHUTS 3RD CITY AS COVID CASES SOAR; MOSCOW TOO SHUTS DOWN

China placed a third city under lockdown on Thursday to tackle Covid numbers, with around six million people now under orders to stay home.

The resurgence prompted officials this week to lock down Lanzhou city — with a population of over four million — and Ejin in Inner Mongolia region. After one new confirmed case, authorities in Heihe followed suit on Thursday. China reported 23 new cases on Thursday, less than half of the previous day’s number, in a sign that its tough disease controls may be working.

Moscow shut down non-essential services for 11 days on Thursday as Russia battles a record-breaking Covid surge driven by low vaccination rates. Russia on Thursday recorded 1,159 fatalities in a single day. An official tally also reported a record 40,096 new cases. Retail outlets, restaurants, and sporting and entertainment venues will all remain closed till Nov 7, along with schools. Only shops selling medicine and other essentials are allowed to be open.Only 32% of Russia’s population is fully vaccinated.

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SHAKTIKANTA DAS REAPPOINTED AS GOVERNOR OF RBI FOR THREE-YEAR TERM

The govt on Friday reappointed Shaktikanta Das as the RBI Governor for three years beyond December 10, 2021.

He had assumed charge as the 25th governor of RBI effective December 12, 2018. Prior to his assignment at RBI, he was served as a member of the 15th Finance Commission.

Earlier, he also served as secretary in the Department of Revenue and Department of Economic Affairs, Ministry of Finance. He was directly associated with the preparation of 8 Union Budgets.

SC: NOT AGAINST ANY FESTIVAL, STRICTLY FOLLOW CRACKER BAN

Ahead of Diwali, the Supreme Court on Thursday said the ban on polluting firecrackers must be strictly followed and also made it clear that the court’s order is to protect the right to life of people and it is not against any community or festival.

“We do not want to come in the way of enjoyment, but for enjoyment one cannot play with the fundamental right of others,” a bench of Justices M R Shah and A S Bopanna said.

The court said a ban order on polluting firecrackers was passed by the apex court after conducting extensive hearings and elaborate reasons were given for passing the order and ‘green crackers’ were allowed.

The bench said authorities must ensure implemention of its order while noting firecrackers were still being sold in violation of its order.

BJP’S PROMINENCE WILL STAY FOR DECADES: KISHOR

Poll strategist Prashant Kishor on Thursday predicted the electoral prominence of the BJP for “decades to come”, cautioning leaders against the trap that people would vote out the ruling party or the Prime Minister in a matter of time.

In a direct reference to former Congress president Rahul Gandhi’s perception of Indian politics, Kishor said the problem with Rahul was his belief that PM Narendra Modi would be thrown away by the electorate in a matter of time.

“That is where the problem lies with Rahul probably. He thinks it is just a matter of time when people will throw Modi away,” Kishor said, attending an interface with residents of Goa.

He said it was important to acknowledge the strengths of adversaries to defeat them, rather than just wait for the time when a fatigued electorate would vote out the party. “The BJP is going to be at the centre of Indian polity… whether they win, whether they lose …like it was for the first 40 years for the Congress,” Kishor said.

UP INVOKES SEDITION OVER CHEERING FOR PAK

Uttar Pradesh Chief Minister Yogi Adityanath announced on Thursday that the charge of sedition will be invoked against those celebrating Pakistan’s victory against India at the recent T20 World Cup match.

The three engineering students arrested in Agra have been sent to 14-day judicial custody.

The three belong to Kashmir and recipients of the Prime Minister’s Special Scholarship Scheme (PMSSS) for J&K students. Their institute, Raja Balwant Singh (RBS) Engineering Technical College, has rusticated them.

The families of the three students appealed to the UP govt to drop the case against them and “forgive them for their mistake”.

WANKHEDE WANTS CBI TO PROBE HIM, GETS STATE GOVT ASSURANCE ON ARREST

The Maharashtra govt Thursday told the Bombay High Court that it will not arrest NCB Mumbai Zonal Director Sameer Wankhede without giving him prior notice of three working days in connection with allegations of extortion and corruption levelled against him.

Wankhede had approached the High Court seeking transfer of the Mumbai Police’s probe into complaints of alleged extortion against NCB officers, including himself, to the CBI.

The officer has been in the eye of a political storm following allegations of extortion in the high-profile cruise drugs bust case in which actor Shah Rukh Khan’s son Aryan Khan was arrested. He had led the team that conducted the alleged drugs bust.

Appearing on behalf of the state govt, Chief Public Prosecutor Aruna Pai said Wankhede’s petition is premature and that no FIR has been filed yet. “We had received four applications against private individuals, including Kiran Gosavi (an NCB witness in the alleged drugs bust)… We are just doing a preliminary enquiry and have not registered any FIR,” Pai said.

FORMER CAG VINOD RAI APOLOGISES TO CONG’S SANJAY NIRUPAM

Former Comptroller and Auditor General Vinod Rai has tendered an unconditional apology to Congress leader Sanjay Nirupam for inadvertently mentioning the ex-MP’s name among those who had pressurised him not to make any reference to then PM Manmohan Singh in his report on 2G Spectrum allocation. “I made certain statements against Sanjay Nirupam particularly in 2014 subsequent to the launch of my book ‘Not just an Accountant: The Dairy of the Nation’s Conscience Keeper’. I have realised that I had inadvertently and wrongly mentioned the name of Sanjay Nirupam as one of the MPs who pressurised me to keep the then Prime Minister Manmohan Singh’s name out of the CAG report on 2-G Spectrum allocation during the meetings of the Public Accounts Committee and on the sidelines of the Joint Parliamentary Committee,” Rai said in an affidavit before the Metropolitan Magistrate’s court in Patiala House where Nirupam had filed a defamation case against the former CAG.

Rai also apologised for the agony his remarks caused to Nirupam and his well-wishers.

“Vinod Rai stands discharged in the case. His apology was accepted by Sanjay Nirupam and the matter was disposed of after recording Nirupam’s statement,” said RK Handoo, Nirupam’s lawyer.

Nirupam termed the development as a “big step” and added: “I have accepted the unconditional apology of Vinod Rai but I would like to state that the 2-G Spectrum and the coal allocation reports drafted by the ex-CAG were fake. Rai should apologise to the country for the sin of authoring fake reports.”

INDIA'S TOP LISTED COMPANIES REMAIN THE MOST EXPENSIVE GLOBALLY

India’s top listed companies remain the most expensive globally with a price-to-earnings (P/E) multiple that is nearly 50 per cent higher than the global average and 1.5 times more expensive than China’s top firms.

There are now 13 Indian firms among the world’s 500 biggest companies in terms of market capitalisation, up from nine last year. These 13 companies are now trading at a P/E multiple of 37X, against the top 500 average P/E multiple of 22.5X.

In comparison, 57 Chinese companies in the top 500 list account for 9.7 per cent of the global market capitalisation, well below their share in profits and revenues. These companies accounted for 14.1 per cent of the combined revenues of the top 500 companies and 14.3 per cent of net profit.

In contrast, Indian companies have a higher share of market capitalisation (1.82 per cent) than revenue (1.2 per cent) and profit (1.1 per cent) among the top 500.

GOVT EXTENDS NATIONWIDE CONTAINMENT MEASURES TILL NOVEMBER 30

The Centre on Thursday extended the nationwide Covid-19 containment measures till November 30 as there has been localised spread of the virus in a few states and the disease continues to be a public health challenge in the country.

In a communication to chief secretaries of all states and union territories, Union Home Secretary

Last month, he had said that there was a possibility that Covid-appropriate behaviour might not be adhered to strictly, especially during the festival season and hence it was critical to enforce guidelines which allowed regular festivities in a cautious, safe and Covid-appropriate manner.

FACEBOOK PARENT TO BE CALLED META, FIRM BETTING BIG ON VIRTUAL EXPERIENCES

Facebook CEO Mark Zuckerberg on Thursday announced that the company he founded is rebranding itself as Meta. The change comes with a new logo designed like an infinity-shaped symbol, slightly askew, almost like a pretzel.

Facebook, Instagram, Whatsapp and other apps will remain, but under the Meta umbrella.

Zuckerberg has been committed to building a metaverse, a composite universe melding online, virtual and augmented worlds that people can seamlessly traverse. He has said the metaverse can be the next major social platform and that several tech companies will build it over the next 10-plus years.

The name change comes as Facebook continues to face intense scrutiny.

That reorganisation is similar to what Google did in 2015 when it formed Alphabet.

ARYAN KHAN, 2 OTHERS GET BAIL IN DRUG CASE, BUT AWAIT RELEASE

Aryan Khan, son of Bollywood superstar Shah Rukh Khan, was on Thursday granted bail by the Bombay high court, 25 days after his arrest by the NCB in the case of seizure of banned drugs aboard a cruise ship off the Mumbai coast earlier this month, a drugs bust that triggered a series of controversies and put the central agency and its officials under the spotlight.

However, Aryan Khan awaits his release from Arthur Road jail as the court is yet to give its operative order on the conditions imposed while granting bail.

A single bench of Justice N W Sambre also granted bail to his co-accused Arbaaz Merchant and Munmun Dhamecha. They are all likely to be released today or tomorrow.

They had been denied bail twice by lower courts in a case that attracted huge media attention and saw a lot of drama outside the court with almost daily charges and counter-charges surrounding the NCB, its officials, witnesses and Maharashtra politicians.

The legal team of the 23-year-old Aryan Khan will now try to complete the formalities for his release by Friday or Saturday.

T20 WORLD CUP MATCH 22:  AUSTRALIA SCORE AN EASY WIN OVER SL

David Warner answered his critics with a sizzling 42-ball-65 as Australia cruised to a seven-wicket victory over Sri Lanka in the T20 World Cup Super 12s match, in Dubai, Thursday.

The dashing opener, who endured a lean patch before the ongoing tournament, was back in his element, scoring 10 fours as Australia easily overhauled Sri Lanka’s target of 155 in only 17 overs.

Australia's second victory in as many Super 12 games made them strong contenders, with England from the group, for a berth in the semi-finals.

Earlier, Sri Lanka, put in to bat, had scored a decent 154 for 6.

Today’s Matches: Bangladesh vs West Indies AND Pakistan vs Afghanistan

INDICATORS

Sensex 59,985 (-1159), Nifty 17,857 (-354), Trading Value NSE (Rs.crores) 76,363

Nasdaq 15,448 (+213) Dow 35,730 (+240), S&P 4,596 (+45)

US$-Rs. 74.80 GBP-Rs. 102.97, Euro-Rs. 87.03, UAE Dhm-Rs.20.36, Can$-Rs. 60.51, Aus$- Rs. 56.27

GBP 0.72 /US$, Euro 0.85 /US$, Jap.Yen 113.56 /US$, Aus$ 1.32 /US$, Sing 1.34 /US$, Bang Taka 84.10 /US$, Can$ 1.23 /US$, Mal Ring 4.14 /US$,

Pak Re 172.09 /US$, Phil Peso 50.60 /US$, Russian Rouble 70.38 /US$, NZ$ 1.39 /US$, Thai Baht 33.20 /US$, Ukraine Hryvnia 26.10 /US$

Bitcoin - USD 61,603

Dollar Index 93.39, Brent Crude 84.05 BDI 3,630

Gold world Spot Price USD/aoz 1,795 India (Rs. per gm 24k/22k) 4,805 / 4,705, Silver (Rs. Per KG) 69,100

THOUGHT FOR THE DAY

Hate destroys a man's sense of values and his objectivity. - Dr. Martin Luther King Jr.

OFF TRACK

A man wants to celebrate his wife's Birthday by throwing a party. So he goes to order a birthday cake. The salesman asks him what message he wants to put on the cake.

Well he thinks for a while and says: let's put, "you are not getting older!  You are getting

better".

The salesman asks "how do you want me to put it?"

The man says, Well put  "You are not getting older", at the top and "You are getting better" at the bottom.

The real fun didn't start until the cake was opened the entire party watched the message decorated on the cake:

"You are not getting older at the top, You are getting better at the bottom".