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Board meet today to finalise LIC deal


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News In Brief


    SC condemns mob lynching, asks Parliament to make law

    New Delhi: The Supreme Court on Tuesday condemned mob lynching incidents across the country and asked Parliament to make a law to curb this crime.


    Mexico's Damojh says steep take-off caused Cuba plane crash

    Mexico City: Mexican aviation company Damojh said on Monday a very steep take-off angle led one of its planes to crash in Cuba in May, killing 112 people, according to black boxes retrieved from the wreckage. 

    “The crew led the plane to take off with a very pronounced ascent, creating a lack of lift that caused the aircraft to plunge as a result,” the company said in a statement. The May 18 accident just outside Havana prompted Mexico’s civil aviation authority to suspend Damojh’s operations while it looked into the firm and investigated the causes of the crash.  The little-known company had leased the Boeing 737 that crashed to Cuba’s flagship carrier Cubana.


    China state planner approves $39 billion in fixed-asset investment projects in first-half

    Beijing: China’s state planner said on Tuesday it has approved 102 fixed-asset investment projects in the first half of this year, worth a combined 260.3 billion yuan ($39 billion). 

    Yan Pengcheng, spokesman for the National Development and Reform Commission (NDRC), did not give further details on the projects approved.  In a separate statement, the NDRC also said it approved a high-speed railway project in the north-central Ningxia region worth 12.87 billion yuan ($1.93 billion).


    UK junior defence minister resigns, votes against government: BBC

    London: British junior defence minister Guto Bebb resigned after voting against a government-backed amendment on the customs bill, part of plans for Britain’s exit from the European Union, BBC news reported on Monday. 

    Bebb, minister for defence procurement, voted against the amendment that will stop Britain collecting tariffs for the European Union after Brexit unless there is a reciprocal arrangement.  It was narrowly approved by parliament on Monday with the government’s support.


    UK government wins approval for customs bill in lower house of parliament

    London: British Prime Minister Theresa May won approval from the lower of house of parliament on Monday for a law designed to create an independent customs policy after Brexit.

    Lawmakers in the House of Commons voted 318 to 285 in favour of the customs legislation, known as the Taxation (Cross-Border Trade) Bill, which will allow the government to levy duties on goods after leaving the European Union.  The bill must also be passed by the House of Lords to become law.


    Amazon suffers glitch during summer marketing event Inc (AMZN.O) on Monday said it was working to fix a technical issue that had prevented some shoppers from placing orders during the company’s summer marketing event, Prime Day.

    The company’s shares were down more than 1 percent in after-hours trading. In a statement, the world’s largest online retailer said many shoppers were ordering items successfully despite the glitch.



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