Klips for 4th Sept

World 🌎| No-deal Brexit motion defeated, Boris to call snap elections

  • The motion was defeated 328-301
  • It is likely that Brexit will be delayed again, to Jan 31st 2020

Reuters: https://reut.rs/34l5ZFT

National 🇮🇳| Fire at ONGC’s Uran plant leaves 4 dead, CNG stations in Mumbai affected

  • The cause of the fire is unknown
  • MGL said gas supply to the city is ‘being normalized’
  • Earlier, several CNG pumps in the city were shut down

Livemint: http://bit.ly/34lN6mj

Economy & Business 💰| Sensex falls 800pts (2%), has worst day in 11 months; Rupee at 9 month low

  • The selloff follows weak GDP data and core sector growth slowdown
  • Also the realisation that the economic slowdown is not just a ‘cyclical issue’ and could be prolonged has led to the selloff
  • Even at these levels, Indian equity markets continue to be most expensive among peers

Livemint: http://bit.ly/34hHY2N

Govt comes to IDBI Bank rescue, hands out ₹9000cr

  • Half of this will come directly from the govt, while the other half will come from LIC
  • LIC owns 51% of the bank (a stake it recently bought from the govt)
  • IDBI is the lead lender to Anil Ambani’s Reliance Naval, which faces insolvency

Livemint: http://bit.ly/2UsPvqJ

Xiaomi announces $1.5bn share buyback

  • The move is expected to arrest its floundering stock
  • While the company struggles in its home market of China, its phones continue to be popular in India

Reuters: https://reut.rs/34gityN

Sport ⚽️| Steve Smith overtakes Kohli to become No 1 batsman in ICC rankings

🗣Interesting: In rapidly growing Bengaluru, temples and kattes are sanctuaries for biodiversity

Scroll: http://bit.ly/2ZRTiPK

🗣On ground: 30 days later, Kashmir remains closed and watchful

  • The emergency numbers to dial police, fire services and ambulances also remain out of reach
  • A stark indicator of the situation is the failure of the Passport office to deliver over 2,000 passports in Kashmir

Hindu: http://bit.ly/2LjTGSU

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