Trump sends Indian-American's name to Senate for 'IP czar'

 Indian-American Vishal J Amin's name has been sent by President Donald Trump to the Senate for confirmation as America's new 'IP czar' to coordinate the country's law-enforcement strategy around copyright, patents and trademarks. Indian-American Vishal J Amin's name has been sent by President Donald Trump to the Senate for confirmation as America's new 'IP czar' to coordinate the country's law-enforcement strategy around copyright, patents and trademarks. If confirmed by the Senate, Amin, who is currently Senior Counsel on House Judiciary Committee, would succeed Daniel Marti in the White House.

Imported smartphones may get costlier by 5-10% as govt plans to levy customs duty

 The move is aimed at giving teeth to local manufacturing and encourage companies like Apple to make phones in the country. However, this may lead to rise in prices of imported smartphones by 5-10 percent. In an effort to make manufacturing the engine of growth and employment, India is pushing for Make in India products. The government is now contemplating to levy customs duty on imported mobile phones after the roll-out of Goods and Services Tax (GST), The move is aimed at giving teeth to local manufacturing and encourage companies like Apple to make phones in the country. However, this may lead to rise in prices of imported smartphones by 5-10 percent. Domestic handset makers are already enjoying few exemptions like no countervailing duty on imported electronic components but they will not remain in the picture once GST is implemented.

China launches new aircraft carrier amid tensions 

The 50,000 tonne new carrier was transferred from a dry dock into the water at a launch ceremony in northeast Dalian shipyard of the China Shipbuilding Industry Corp (CSIC), state-run China today launched its first indigenously-built aircraft carrier which will join an existing one bought from Ukraine, boosting its military capabilities amid worries about Beijing's assertiveness in the South China Sea. The 50,000 tonne new carrier was transferred from a dry dock into the water at a launch ceremony in northeast Dalian shipyard of the China Shipbuilding Industry Corp (CSIC), state-run Xinhua news agency reported. The carrier is touted to be a significant upgrade from the Liaoning, which was built more than 25 years ago and is a refurbished Soviet ship bought from Ukraine. China began building its second carrier in November 2013. Dock construction started in March 2015. Putting the carrier into water marked progress in China's efforts to design and build a domestic aircraft carrier. After the launch, the new carrier will undergo equipment debugging, outfitting and comprehensive mooring trials, Xinhua said. 

J&K CM Mehbooba Mufti meets

 PM Modi Mehbooba, who is under mounting attack in the face of fresh spurt in violence in Kashmir, briefed Modi on the prevailing situation in the state and the way forward. Jammu and Kashmir Chief Minister Mehbooba Mufti today met Prime Minister Narendra Modi here and pressed for dialogue. Mehbooba, who is under mounting attack in the face of fresh spurt in violence in Kashmir, briefed Modi on the prevailing situation in the state and the way forward. She told the prime minister that the Centre should seriously think about the welfare of the state. "There is no option but to talk," Mehbooba said. The PDP and the BJP, which are running the coalition government in the troubled state, are not on the same page on the issue of dealing with the growing trend of stone-pelting and this has led to friction between them. A BJP minister Chander Prakash Ganga recently advocated strong action, saying "traitors and stone-pelters should be treated with bullets". This comment drew the ire of the PDP, which said there was a "conspiracy" to keep trouble brewing in the Valley

Death toll in Afghan base attack rises to 140, officials say

 As many as 10 Taliban fighters, dressed in Afghan army uniforms and driving military vehicles, talked their way onto the base and opened fire on soldiers eating dinner and leaving a mosque after Friday prayers. As many 140 Afghan soldiers were killed on Friday by Taliban attackers apparently disguised in military uniforms in what would be the deadliest attack ever on an Afghan military base, officials One official in the northern city of Mazar-i-Sharif, where the attack occurred, said on Saturday at least 140 soldiers were killed and many others wounded. Other officials said the toll was likely to be even higher. The officials spoke on the condition of anonymity because the government has yet to release official casualty figures. A U.S. official in Washington on Friday had put the toll at more than 50 killed and wounded.

US judge sentences Volkswagen to three years probation, oversight 

The plea agreement called for "organization probation" in which the company would be overseen by an independent monitor. A federal judge in Detroit on Friday sentenced Volkswagen AG to three years' probation and independent oversight for the German automaker's diesel emissions scandal as part of a $4.3 billion settlement announced in January. The plea agreement called for "organization probation" in which the company would be overseen by an independent monitor. The sentencing was one of the last major hurdles to VW moving past a scandal that led to the ouster of its chief executive and tarnished the company's reputation worldwide. "This is a case of deliberate and massive fraud," U.S. District Judge Sean Cox said in approving the settlement that required the automaker to make significant reforms. He also formally approved a $2.8 billion criminal fine as part of the sentence.

Sentence next for Volkswagen in US diesel emissions scandal 

Federal Judge Sean Cox is holding a hearing today in Detroit, six weeks after the German automaker pleaded guilty to conspiracy and obstruction of justice. The judge wanted more time to consider the plea deal and fine negotiated by VW and the US Justice Department. Volkswagen and the US government are asking a judge to approve a USD 2.8 billion criminal penalty against the automaker for cheating on diesel emissions tests Federal Judge Sean Cox is holding a hearing today in Detroit, six weeks after the German automaker pleaded guilty to conspiracy and obstruction of justice

CII signs MoUs with 3 Singapore Universities 

The memorandum of understandings (MoUs) will allow the universities and International Enterprise (IE) Singapore, a business promotion agency, to tap into CII's network of over 8,000 members to create overseas attachment opportunities for enrolled students. The Confederation of Indian Industry (CII) today signed agreements with three Singapore universities to provide training opportunities to students. The memorandum of understandings (MoUs) will allow the universities and International Enterprise (IE) Singapore, a business promotion agency, to tap into CII's network of over 8,000 members to create overseas attachment opportunities for enrolled students.IE Singapore, a statutory board under the Ministry of Trade and Industry and the lead MoU signatory, will be supporting these attachments under its Young Talent Programme.

RJio tops chart in 4G download speed in Mar:

 Trai The survey claimed to have collected information from 1.3 billion datapoints covering 93,464 users during the period between December 2016 and February 2017. in March, a report by telecom regulator Trai has showed. Average download speed on Reliance Jio network was 16.48 megabit per second (mbps) in March against 8.33 mbps on Idea Cellular's and 7.66 mbps on Bharti Airtel's network, the monthly report by Trai showed. Theoretically, a user can download one Bollywood movie in about 5 minutes at 16 mbps speed. Vodafone registered average download speed of 5.66 mbps, 2.64 mbps, Tata Docomo 2.52 mbps, state run BSNL 2.26 mbps and Aircel 2.01 mbps. Trai collects and computes data download speed with the help of its MySpeed application on real-time basis. Meanwhile, a survey on mobile network speed covering two metros of Delhi and Mumbai, and two states of Karnataka and Tamil Nadu by a private firm Open Signal has claimed that Bharti Airtel had the fastest network with average 4G download speed of 11.5 mbps while Reliance Jio was fourth with 3.92 mbps. The survey claimed to have collected information from 1.3 billion datapoints covering 93,464 users during the period between December 2016 and February 2017.

Worries over Trump policies cloud start of IMF, World Bank meetings

 The International Monetary Fund and World Bank spring meetings bring the two multilateral institutions' 189 members face-to-face with Trump's "America First" agenda for the first time, just two blocks from the White House. World finance leaders are gathering on US President Donald Trump's home turf on Thursday to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration. The International Monetary Fund and World Bank spring meetings bring the two multilateral institutions' 189 members face-to-face with Trump's "America First" agenda for the first time, just two blocks from the White House. "These meetings will all be about Trump and the implications of his policies for the international agenda," said Domenico Lombardi, a former IMF board official who is now with the Centre for International Governance Innovation, a Canadian think-tank. He added that IMF Managing Director Christine Lagarde is aiming to "socialize" the new administration to the IMF's agenda and influence its policy choices.

Bose accused of spying on users, selling their data 

The complaint filed by Kyle Zak in federal court in Chicago seeks an injunction to stop Bose's "wholesale disregard" for the privacy of customers who download its free Bose Connect app from Apple Inc or Google Play stores to their smartphones. Bose Corp has been accused of spying on its users via an app that tracks music podcasts by collecting their data, which is allegedly sent to third-party firms It violates the privacy rights of consumers by selling the information without permission, a lawsuit charged. The complaint filed by Kyle Zak in federal court in Chicago seeks an injunction to stop Bose's "wholesale disregard" for the privacy of customers who download its free Bose Connect app from Apple Inc or Google Play stores to their smartphones. "People should be uncomfortable with it," Christopher Dore, a lawyer representing Zak, said in an interview. "People put headphones on their head because they think it's private, but they can be giving out information they don't want to share." Bose did not respond on Wednesday to requests for comment on the proposed class action case. The Framingham, Massachusetts-based company has said annual sales top $3.5 billion. Zak's lawsuit was the latest to accuse companies of trying to boost profit by quietly amassing customer information, and then selling it or using it to solicit more business

Deadline for deposits under income declaration scheme extended till April 30 

The PMGKY, which opened on December 17, 2016, provided a last chance to holders of undisclosed income to come clean by paying tax and penalty. The scheme closed on March 31. The government and the Reserve Bank of India on Wednesday gave time till April 30 for "commensurate deposits" by people who have declared their unaccounted income under the Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) that allowed parking money in non-interest bearing deposits for four years. The extension of time till April 30 has also been given to banks for uploading details into the RBI's E-Kuber system. The PMGKY, which opened on December 17, 2016, provided a last chance to holders of undisclosed income to come clean by paying tax and penalty. The scheme closed on March 31. 

United CEO says no one will be fired for dragging incident 

CEO Oscar Munoz said yesterday that he takes full responsibility "for making this right," and he promised more details later this month after United finishes a review of its policies on overbooked flights. The CEO of United Airlines says no one will be fired over the dragging of a man off a plane including himself. CEO Oscar Munoz said yesterday that he takes full responsibility "for making this right," and he promised more details later this month after United finishes a review of its policies on overbooked flights. Company executives said it's too soon to know if the incident is hurting ticket sales. United has been pummeled on social media #BoycottUnited is a popular hashtag and late-night television. 

Apple just made a bunch of apps free for everyone 

Those applications have already been free for folks who purchased a new iOS or macOS device in the past several years. That means you may already have a free version installed or available to you through the App Store. Apple just made iMovie, the entire iWork suite and GarageBand free for everyone. Those applications have already been free for folks who purchased a new iOS or macOS device in the past several years. That means you may already have a free version installed or available to you through the App Store

Taj group to manage Godrej Properties' Mumbai hotel project 

Godrej Properties said it has "partnered with Taj Hotels Palaces Resorts Safaris to develop a world-class Taj brand hotel at its flagship project, The Trees, at Vikhroli". Realty Godrej Properti has tied up with the Taj group to develop a luxury hotel project in Mumbai. Godrej Properties said it has "partnered with Taj Hotels Palaces Resorts Safaris to develop a world-class Taj brand hotel at its flagship project, The Trees, at Vikhroli". The Taj hotel will manage this property offering about 150 guest rooms and suites. This is a 35-acre mixed-use project comprising housing, office, retail and hospitality, the company said in a statement. On the tie-up with the Taj group, Godrej Properties Executive Chairman Pirojsha Godrej said: "Our endeavour is to make The Trees India's most exciting mixed-use development and this partnership is an important milestone towards that goal." Rakesh Sarna, MD and CEO, Taj Hotels Palaces Resorts Safaris, said, 

I, Robot: How Tatas' bet on automation is a sign of technological breakthrought 

This off-beat project is one of several that Tata Group company TAL Manufacturing, a 100 percent subsidiary of Mumbai-based Tata Motors is working on. The next time you see someone behind a bar counter juggling bottles with clockwork, machine-like precision or making that perfect single malt, the chances are you would be staring at a robot instead of the regular bartender. This off-beat project is one of several that Tata Group company TAL Manufacturing, a 100 percent subsidiary of Mumbai-based Tata Motors is working on. “You can tell the machine what you would like to have, swipe your card and pay for it on the machine itself and enjoy your drink.  That’s the kind of proposal we have sent to a customer who said he was interested in a robot who can do the job of a bartender,” said a senior executive of TAL Manufacturing. TAL, which has a facility in Pune that can make 3,000 robots a year, recently launched Brabo, a highly indigenized robot priced in the range of Rs 5-7 lakh. Brabo, which is 30-40 percent cheaper than a foreign counterpart, weighs 68-95 kg with a payload capacity of 2-10 kg. After an investment of Rs 10 crore and three years spent in development the Brabo is used in small foundaries, for machining, by auto comp vendors, for sealant application, packing and end-of-line inspection. 

I don’t want to expand into poor countries like India and Spain: 

Snapchat CEO The details of the poor remarks were revealed in a lawsuit by filed by an ex-employee named Anthony Pompliano At a time when most international tech companies are looking to get a pie of the Indian market, Snapchat CEO Evan Spiegel believes that his app is only for ‘rich people’. The details of the poor remarks were revealed in a lawsuit by filed by an ex-employee named Anthony Pompliano, According to the lawsuit, the incident happened 2015 when Pompliano was expressing his concerns that the app was not making a mark in the overseas market. Abruptly cutting him off, Spiegel said “this app is only for rich people. I don’t want to expand into poor countries like India and Spain.

Govt to take feedback from companies for ease of biz ranking of states 

The DIPP, with the help of the World Bank, ranks states in terms of ease of doing business. The exercise was started in 2015. Andhra Pradesh and Telangana jointly topped the chart last year. The Commerce Ministry on Thursday said it will take feedback from businesses on implementation of reforms carried out by states while ranking them on ease of doing business this year. The ministry said the Department of Industrial Policy and Promotion (DIPP) will carry out a comprehensive business-to- government feedback exercise this year. As part of the exercise, "feedback will be taken from businesses on the quality of implementation of the reforms claimed by the states and UTs," it said. It added that the feedback scores will be used to generate a ranking of states/UTs in terms of reform implementation.

Fewer launches, pricing pressures in US to affect pharma's 

Q4 show Analysts predict the March quarter will be tough with revenue growth moderating to 5-6 percent owing to the absence of any significant launches and pricing pressure in US, which accounts for half their sales As Indian drug makers brace for fourth quarter earnings in the days ahead, analysts predict the March quarter will be tough with revenue growth moderating to 5-6 percent owing to the absence of any significant launches and pricing pressure in US, which accounts for half their sales. Here are some key factors that may influence earnings of Indian drug makers:Pricing pressure and rupee strengthening in US market: One of the key factors to look out for in the fourth quarter is the extent of price deflation of generic drugs that has eaten into the base business. Analysts say the base business erosion ranges anywhere between high single digit to low double digits. The worrying aspect is that it is accelerating on account of consolidation of the distribution channel and rising competition. Another concerning aspect is the unexpected sharp appreciation of the rupee since the Uttar Pradesh poll results. 

After years of soaring growth, Asia's fuel demand falters

Gobbling up over a third of global supplies, Asia is the world's biggest and fastest growing region for oil consumption, and its seemingly insatiable fuel thirst has long been a core support for prices. After years of often explosive growth, fuel consumption in Asia's biggest economies is stuttering, undermining efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to end a global supply glut and lift prices. Gobbling up over a third of global supplies, Asia is the world's biggest and fastest growing region for oil consumption, and its seemingly insatiable fuel thirst has long been a core support for prices. Now, some say that picture of buoyant growth in demand is crumbling. "The signs of growing demand aren't quite what they seem. Chinese fuel growth is at a three year low, Japanese fuel demand is down," said Matt Stanley, a fuel broker at Freight Investor Services (FIS) in Dubai. "Considering the sheer volume of product available... sooner or later I think we could see some distressed sellers. Brent crude oil futures have risen by around 5.5 percent this month to $55.75 per barrel as traders bet on a broader commodity market recovery and price in a Middle East risk premium after the U.S. missile attack on Syria last week.But in a sign that there remains an abundance of oil available to buyers and that the more opaque physical oil market is not as convinced by the rally in financial markets, top exporter Saudi Arabia this month lowered the price for its May crude for Asian customers by 30 cents versus April, and to a discount of 45 cents compared with the benchmark Oman/Dubai average.

IDFC Alternatives eyes First Solar's assets in India for $200 million: 

 Two sources privy to this development have told the newspaper that IDFC Alternatives is interested in acquiring First Solar's power generation assets. IDFC Alternatives is looking to buy First Solar's 200 MW worth of renewable power assets in India at a price valued at around Rs 200 million, Two sources privy to this development have told the newspaper that IDFC Alternatives is interested in acquiring First Solar's power generation assets. First Solar, an American photovoltaic (PV) manufacturer of solar panels, was among the first solar companies to enter the Indian market and in terms of total shipment counts India as its second largest market after the US. This news comes against the backdrop of falling solar tariffs. During the auction of a 250 MW project at Kadapa in Andhra Pradesh, the levelised solar power tariff dropped to an all-time low of Rs 3.15 per unit. The constant drop in tariff is due to the government's liberal policy interventions, such as waiver of transmission and wheeling costs along with other various subsidies. 

Overhauled software system on cards to guard individuals’ tax data 

Trial runs are currently on; new system to protect millions of tax payers’ confidential financial data from falling into wrong hands The Income Tax (I-T) department is overhauling its technology backbone and software system to protect individual information, plug potential leakages, and guard tax payers' confidential data through a highly encrypted security architecture. Trial runs are currently on before the new system, which will store and process several terabytes of data, is rolled out fully. The decision to revamp the I-T department's data handling system has been taken to protect "confidential financial data filed by millions of tax payers from falling into wrong hands," a source, who did not wish to be identified, "The new module is undergoing trials at the moment. The new software would secure individual assessees' data," the source said. There have been instances where third parties have been able to secure individual tax information, raising questions about weaknesses in the I-T department's data protection system that may compromise personal and confidential information. The new tech backbone will also be compatible with "Project Insight", launched recently to enable "voluntary compliance and deter non- compliance," to impart confidence that all eligible persons pay appropriate tax and to "promote fair and judicious tax administration". 

Cisco to make India hub for global hardware export Networking giant 

Cisco today said it plans to make India a global export hub for its products, after recently having started manufacturing access points and routers at a facility in Pune. Networking giant Cisco today said it plans to make India a global export hub for its products, after recently having started manufacturing access points and routers at a facility in Pune. The US-based company also expects to complete 50 digitisation projects by the end of the year across India, which is part of its USD 100 million investment announced last year. "Our roadmap is very clear. Our first intention was to start with 5 or 6 products that we wanted to make in India for domestic market such as access points, routers etc. "The second stage is to make that centre (Pune) a global export hub. That is the next stage we are working on right now," Cisco President India and SAARC Dinesh Malkani said at the Cisco India Summit 2017. 

Nabard plans to enter affordable housing segment

 It is targeting to disburse up to Rs 10,000 crore under this in the current financial year, a Nabard is planning a foray into rural housing segment by facilitating finance for the homes built under the Prime Minister's Awas Yojana (PMAY). It is targeting to disburse up to Rs 10,000 crore under this in the current financial year, a senior Nabard official said. "There are discussions in the government to have a special purpose vehicle to achieve the PMAY targets. We will finance the SPV," the official told reporters. The official said rural housing is a major challenge and we have to find newer ways of financing it, which makes Nabard get into the segment. Till now, the development finance institution has been refinancing lenders' loans given to rural affordable housing, but this will be a more direct approach, he said. Shelter repairs and construction of newer units have been identified as a specific need 

Duty-free imports unlikely to bring down sugar prices

 "Duty-free import is unlikely to have any significant negative impact on the prices or profitability of sugar mills in the near-term. While raw sugar imports are unlikely to negatively impact domestic sugar prices, this may dampen prospects of a further price rise," Duty-free import of raw sugar till June is unlikely to bring down retail prices in the near-term, Recently government allowed duty-free import of raw sugar to the tune of 0.5 million tonne till June 12. "Duty-free import is unlikely to have any significant negative impact on the prices or profitability of sugar mills in the near-term. While raw sugar imports are unlikely to negatively impact domestic sugar prices, this may dampen prospects of a further price rise," Icra But import beyond June may lead to pressure on stock position and may lead to a price correction in the forthcoming sugar year, it added.

Cairn Energy gets Rs 10,000 crore notice from Income-Tax Department 

ITAT in its March 9 order held that Cairn Energy was liable to pay tax on the 2006 transfer of India assets to newly created Cairn India, prior to its listing. It, however, held that interest cannot be charged on it as the demand was raised using retrospective tax legislation. prior to its listing. It, however, held that interest cannot be charged on it as the demand was raised using retrospective tax legislation. The Income Tax Department had raised a tax demand of Rs 10,247 crore and another Rs 18,800 crore in interest for 10 years. "Following the ruling of the ITAT, an amended tax demand, received on March 31, 2017, noted that late payment interest would now be charged from February 2016, i.e. from 30 days following the date of the original 2016 final assessment order," Cairn said in a notice to shareholders.

Cairn Energy gets Rs 10,000 crore notice from Income-Tax Department

 ITAT in its March 9 order held that Cairn Energy was liable to pay tax on the 2006 transfer of India assets to newly created Cairn India, prior to its listing. It, however, held that interest cannot be charged on it as the demand was raised using retrospective tax legislation. Within weeks of tax tribunal ITAT upholding levy of retrospective tax, the Income Tax Department has slapped a fresh demand note of Rs 10,247 crore on British explorer Cairn Energy Plc. prior to its listing. It, however, held that interest cannot be charged on it as the demand was raised using retrospective tax legislation. The Income Tax Department had raised a tax demand of Rs 10,247 crore and another Rs 18,800 crore in interest for 10 years. "Following the ruling of the ITAT, an amended tax demand, received on March 31, 2017, noted that late payment interest would now be charged from February 2016, i.e. from 30 days following the date of the original 2016 final assessment order," Cairn said in a notice to shareholders. Cairn said the decision of the ITAT is "potentially subject to appeal."

US Fed could end reinvestment policy this year:

Fed's Bullard Talking to reporters in Australia, St. Louis Federal Reserve President James Bullard said opinions differed within the Fed on ending its balance sheet reinvestment policy and it would take some time to agree on, but he felt it could start later in the year. The US Federal Reserve could begin winding down its massive balance sheet sometime later this year in a shift that would make it less necessary to raise the official funds rate, a central banker said on Monday. Talking to reporters in Australia, St. Louis Federal Reserve President James Bullard said opinions differed within the Fed on ending its balance sheet reinvestment policy and it would take some time to agree on, but he felt it could start later in the year. Bullard, considered a policy dove by markets, said he favoured only one more interest rate hike this year. He noted the March payroll report last Friday was relatively weak and fitted in with his view that inflation would not stray far from 2 percent. 

Read more for HNI Stock Tips-http://bit.ly/ace_services

US, Russia clash in Security Council over Syria missile strike 

US Ambassador to the UN Nikki Haley, who is President of the Council for this month, said Washington was "fully justified" in carrying out the missile strikes and was prepared to take further action. The US and Russia clashed in the UN Security Council over the missile attack on a Syrian airfield, with Washington warning it is "prepared to do more" as Moscow accused it of flagrantly violating international law with its "act of aggression." The 15-nation Security Council met for an emergency meeting yesterday on the situation in Syria following the launch of 59 Tomahawk cruise missiles by US into the Shayrat Airbase as a response to the Syrian government's use of chemical weapons from the base. US Ambassador to the UN Nikki Haley, who is President of the Council for this month, said Washington was "fully justified" in carrying out the missile strikes and was prepared to take further action. "Our military destroyed the airfield from which this week's chemical strike took place. We were fully justified in doing so," Haley said.

Uber smartphone apps provisionally banned in Italy

 An Italian court has banned the use of smartphone apps for the ride-hailing group Uber, saying they contribute to traditional taxis facing unfair competition. An Italian court has banned the use of smartphone apps for the ride-hailing group Uber, saying they contribute to traditional taxis facing unfair competition, local media reported. In a ruling that is subject to appeal, a court in Rome yesterday upheld a complaint filed by taxi unions and gave Uber ten days to end the use of various phone applications on Italian territory, along with the promotion and advertising of them.

Iran retaliates to Indian oil cut plans Iran

 India's third biggest oil supplier, used to give a 90-day credit period to refiners like Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) to pay for the oil they would buy from it Iran has cut by one-third the time it gives to Indian refiners to pay for oil they buy from it and has also raised ship freight rates as a retaliatory measure to New Delhi's decision to reduce Iranian oil Now, Tehran has reduced this to 60 days, essentially means that IOC and MRPL would have to pay for the oil they buy from Iran in 60 days instead of previous liberal term of 90 days, sources privy to the development said. Iran oil sale terms were the most attractive for Indian refiners. Besides a liberal credit period, it also shipped the oil to India for a nominal 20 per cent of normal ocean freight. Other Middle-East sellers offer not more than 15-day credit period. Sources said National Iranian Oil Co (NIOC) has also decided to cut the discount it offers to Indian buyers on freight from 80 percent to about 60 per cent. IOC and MRPL -- largest state buyers of Iranian crude -- will cut imports from Tehran to 4 million tonnes in 2017-18 from 5 million tonnes in the previous year.

Donald Trump explains why he launched missile attack on Syria 

The US military has launched about 59 missiles aimed at Syria, and President Donald Trump said he was targeting the Syrian airfield from which an earlier chemical attack had been launched. The US military has launched about 59 missiles aimed at Syria, and President Donald Trump said he was targeting the Syrian airfield from which an earlier chemical attack had been launched. Here's what the president had to say in a Thursday evening address On Tuesday, Syrian dictator Bashar al-Assad launched a horrible chemical weapons attack on innocent civilians. Using a deadly nerve agent, Assad choked out the lives of helpless men, women and children. It was a slow and brutal death for so many. Even beautiful babies were cruelly murdered in this very barbaric attack.

Adidas to mass-produce 3D-printed shoe with Silicon Valley startup

 Adidas already lets people customise the colour and pattern of shoes ordered online but new 3D printing methods will make small production runs, limited edition shoes and even soles designed to fit an individual's weight and gait economical. < Adidas launched a new sneaker on Friday with a 3D-printed sole that it plans to mass-produce next year, part of a broader push by the German sportswear firm to react faster to changing fashions and create more customised products. Adidas already lets people customise the colour and pattern of shoes ordered online but new 3D printing methods will make small production runs, limited edition shoes and even soles designed to fit an individual's weight and gait economical. Rivals Nike, Under Armour and New Balance have also been experimenting with 3D printing but have so far only used the technique to make prototypes, soles tailored for sponsored athletes and a handful of high-priced novelty shoes. That's because traditional 3D printers are slower, more expensive and often create an inferior product than the injection moulds for plastic that are currently used to produce hundreds of millions of shoes each year, mostly in Asia. However, Adidas says its new partnership with Silicon Valley start-up Carbon allows it to overcome many of those difficulties to produce a sole that can rival one made by an injection mould, and at a speed and price that allow for mass production.

Australia takes Apple to court over 'refusing service' claims 

The tech giant "made false, misleading, or deceptive representations about consumers' rights under the Australian Consumer Law," the Australian Competition and Consumer Commission (ACCC) charged. Apple was today taken to court by Australia's consumer watchdog for violating laws by allegedly refusing to look at or repair some iPads and iPhones previously serviced by a third party The tech giant "made false, misleading, or deceptive representations about consumers' rights under the Australian Consumer Law," the Australian Competition and Consumer Commission (ACCC) charged. The proceedings, against Apple Pty Limited and its US-based parent Apple Inc, were brought on behalf of 275 consumers. Under Australian law, each breach can attract a fine of up to Aus$1.1 million (US$830 million), although it is up to the court to determine the size of the penalty. 

China March data seen showing solid growth but all eyes on

 Trump-Xi meeting Trump has foreshadowed the risk of talks being tense, tweeting on Thursday that the United States could no longer tolerate massive trade deficits and job losses. A flurry of data in coming weeks is expected to show China posted solid economic growth in March, as President Xi Jinping and President Donald Trump meet for the first time this week with China's trade surplus expected to be high on the agenda. Trump has foreshadowed the risk of talks being tense, tweeting on Thursday that the United States could no longer tolerate massive trade deficits and job losses. While Trump has not followed through yet on campaign threats to label China a currency manipulator or impose punitive tariffs on Chinese goods, many analysts reckon the new administration is just beginning to flex its trade muscles. 

Most Fed policymakers see change to balance sheet policy 'later this year':
 
 Minutes The minutes released on Wednesday of the March 14-15 policy discussion, at which the Fed voted 9-1 to raise interest rates, also showed that the rate-setting committee had a broad discussion about whether to phase out or halt reinvestments all at once. Most Federal Reserve policymakers think the central bank should take steps to begin trimming its USD 4.5 trillion balance sheet later this year as long as the economic data holds up, minutes from their last meeting showed. The minutes released on Wednesday of the March 14-15 policy discussion, at which the Fed voted 9-1 to raise interest rates, also showed that the rate-setting committee had a broad discussion about whether to phase out or halt reinvestments all at once. "Provided that the economy continued to perform about as expected, most participants anticipated that gradual increases in the federal funds rate would continue and judged that a change to the Committee's reinvestment policy would likely be appropriate later this year," the Fed said in the minutes.

Sugarcane may be used to power future cars'

 The modified sugarcane plants also produce more sugar, which could be used for ethanol production, researchers said. Sugarcane can be genetically engineered to produce oil in its leaves and stems for biodiesel production, scientists, including one of Indian origin, have found. The modified sugarcane plants also produce more sugar, which could be used for ethanol production, researchers said. The dual-purpose bio energy crops are predicted to be more than five times more profitable per acre than soybeans and two times more profitable than corn, they said. Using a juicer, researchers led by the University of Illinois in the US extracted about 90 per cent of the sugar and 60 per cent of the oil from the plant. The juice was fermented to produce ethanol and later treated with organic solvents to recover the oil.

Hyundai Motor, Kia Motors cut China output amid diplomatic tensions:

 South Korea's Hyundai Motor Co and Kia Motors Corp have slashed vehicle production in China, people familiar with the matter told Reuters, amid diplomatic tensions and competition from local brands. South Korea's Hyundai Motor Co and Kia Motors Corp have slashed vehicle production in China, people familiar with the matter told Reuters, amid diplomatic tensions and competition from local brands. China, the world's biggest auto market, accounted for over a quarter of the pair's 2016 overseas sales but their March sales there were hit by anti-Korean sentiment and competition from local automakers like Geely Automobile Holdings Ltd. Kia Motors has cut production shifts at its China factories, two of the sources said. One of them said Hyundai also had eliminated a second shift from its three factories in Beijing starting mid-March.

North Korea fires missile into Sea of Japan South Korea's

  Defence ministry said the missile had flown some 60 kilometres (about 40 miles). Nuclear-armed North Korea fired a ballistic missile into the Sea of Japan, South Korea and the US military said, days after Pyongyang warned of retaliation if the global community ramps up sanctions. South Korea's defence ministry said the missile had flown some 60 kilometres (about 40 miles). "The military is keeping a close watch over North Korea's provocative moves and maintaining a high defence posture", it said. The US military said it was a KN-15 medium-range ballistic missile which they had determined posed no threat to America. "US Pacific Command is fully committed to working closely with our Republic of Korea and Japanese allies to maintain security," the military command in the Indo-Asia-Pacific region said. US Secretary of State Rex Tillerson confirmed Pyongyang had launched "yet another" intermediate range ballistic missile.

India factory activity at five-month high in March on strong demand: 

PMI The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 52.5 in March, from 50.7 in February, the third month in a row that is has been above the 50 mark that separates growth from contraction. Activity in India's manufacturing sector expanded at the fastest pace in five months in March as output and new orders accelerated, according to a private survey that also showed price pressures eased. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 52.5 in March, from 50.7 in February, the third month in a row that is has been above the 50 mark that separates growth from contraction. Output and new orders sub-indexes rose to their highest since October 2016, suggesting the world's fastest growing major economy has largely recovered from Prime Minister Narendra Modi's shock decision in November to ban high-value currency notes.

RBI to keep rates unchanged, next move likely a cut: 

Poll In February, India's central bank was expected to cut rates but surprised markets by leaving them on hold and changed its stance to neutral from accommodative, ending its longest easing cycle since the global financial crisis. The Reserve Bank of India (RBI) will keep interest rates unchanged at its meeting on Thursday and as inflation is below target while borrowing costs are more likely to fall than rise, a Reuters poll found. In February, India's central bank was expected to cut rates but surprised markets by leaving them on hold and changed its stance to neutral from accommodative, ending its longest easing cycle since the global financial crisis. The RBI will keep the repo rate at 6.25 percent on April 6, according to all 60 economists polled, which would mean the Monetary Policy Committee (MPC) has not changed rates at three straight meetings. 

How states are trying to steer clear of the highway liquor ban 

With the Supreme Court ban on liquor sales within 500 metres of national and state highways coming into force from April 1, several states are staring at a huge revenue loss and are looking at ways to minimise the impact on revenue. With the Supreme Court's ban on liquor sales within 500 metres of national and state highways coming into force from April 1, several states are staring at a huge revenue loss and are looking at ways to minimise the impact on revenu Many states are considering denotifying state highways within cities and towns and turning them into urban roads. States have also approached the Centre to find out if it can convert national highways into city roads to steer clear the Supreme Court order to shut down liquor vends and bars along highways. According to officials, a state can denotify the state highways within cities and towns in the state. For national highways, states need to approach the Centre. To counter the ban, the state administrations of Rajasthan, Madhya Pradesh, Uttar Pradesh and the Union Territory of Chandigarh have reportedly begun denotifying state highways to circumvent the ruling, an excise official

Canada wants to keep free trade with US:

PM Trudeau US President Donald Trump is threatening to target countries, including Canada, that contribute to America's substantial trade deficit, a move being taken as a protectionist warning shot. Prime Minister Justin Trudeau promised to explain to the Trump administration the importance of free trade between Canada and the United States, particularly for jobs. US President Donald Trump is threatening to target countries, including Canada, that contribute to America's substantial trade deficit, a move being taken as a protectionist warning shot. The United States is Canada's biggest trading partner, with a trade surplus on merchandise alone last year of 32.5 billion Canadian dollars (USD 24.4 billion). Trudeau said it was "extremely important" to work with the Trump administration on the issue, without dramatising the US decision to target Canada along with more than a dozen other countries. "The United States regularly assess their trade partners, there is nothing particularly new about this," Trudeau told a press conference. "We know the conversations we will be having on how we can improve trade, freedom to send goods of services people across the border. It's good for both of our countries," 

The Japan International Cooperation Agency (Jica) today said signed an

 Agreement with the MMRDA to provide 144,795 million yen, or around Rs 8,600 crore, official development assistance (ODA) loan for the ambitious trans-harbour link project in the city (MTHL). "The financial assistance would be utilised to develop an expressway link comprising a dual three-lane main- carriageway bridge connecting Sewri on the northeastern periphery of Mumbai to Chirle in Navi Mumbai," Jica said in a statement. The loan is offered at concessional rate of yen-London inter-bank offered rate plus 0.1 per cent for the project activities and 0.01 per cent for consulting services with a 30-year repayment period, including 10 years of grace period.