Article 370 fallout: Pakistan suspends bilateral trade with India, expels envoy
day after Indian government scrapped Article 370, which gave special
status to Jammu and Kashmir, Pakistan on Wednesday said that it will be
downgrading diplomatic relations with India. It has said that it will be
expelling the Indian High Commissioner and suspending bilateral trade
with New Delhi.
Auto firms seek tax cuts, easier finance access to revive sales
auto industry demanded tax cuts and easier access to finance for
dealers and buyers at a meeting with Indian government officials on
Wednesday to discuss the sector's woes, sources said, in an effort to
revive sales that have slumped. Executives from across the sector also
asked the government to provide incentives to scrap old vehicles, which
they said would help boost sales, and urged officials to reconsider a
proposal to hike registration fees for automobiles as it would hurt
demand, the two sources said.
Uday Kotak calls for investments in J&K; Amul, Lemon Tree confirm intent
Article 370 out of the way, veteran banker Uday Kotak has called for
initiatives to drive growth and create job opportunities in Jammu and
Kashmir. With the economy of Jammu and Kashmir open for all, companies
have started to come forward with the intent to invest. So far, dairy
major Amul India has expressed interest towards investing in the region.
Meanwhile, helmet maker Steelbird has offered to set up a plant in
Jammu and Kashmir.
Pakistan closes a corridor of its air space
has closed a corridor in its airspace, which will result in an
additional up to12 minutes of flying time for overseas flights, an Air
India official said on Wednesday. The flights will have to be diverted
to other routes due to the closure, the official said. Air India
operates around 50 flights daily through Pakistani airspace. These are
flights to the US, Europe and the Middle East. Following the Balakot air
strikes, Pakistan had closed its airspace on February 26 and it was
fully reopened on July 16. The Indian government on Monday abolished
provisions of Article 370 of the Constitution that gave special status
to Jammu and Kashmir and bifurcated the state into two Union Territories
-- Jammu and Kashmir, and Ladakh.
Mallya makes another offer of 100 per cent loan payback
liquor tycoon Vijay Mallya, whose social media interventions against
the Indian government are a regular occurrence, took to Twitter once
again to repeat his 100 per cent loan payback offer to the public sector
banks in India. The 63-year-old former Kingfisher Airlines boss,
fighting extradition to India in relation of fraud and money laundering
allegations arising out of the debt acquired from the banks, quoted
finance minister Nirmala Sitharaman's Lok Sabha statement from last week
in his latest offer.
2019 Hyundai Grand i10 unveiled in India
second largest carmaker Hyundai Motor India Ltd on Wednesday unveiled
the first glimpse of the third generation of its hatchback Grand i10
that is set to be launched in India on August 20.The company has
christened the car--Grand i10 Nios, to differentiate it with the
existing Grand i10, which will continue to be offered in the market
largely for smaller towns and cities.