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Wall Street returns to positive stance after brief post-Fed wobble
Wall Street’s main indexes returned to positive territory in mid-afternoon trading on Wednesday after a brief wobble in the immediate aftermath of the Federal Reserve’s rate announcement which had also forecast rates remaining higher for longer. At the end of its two-day meeting, the Fed lifted its policy rate by 75 basis points for the third time to a 3.00-3.25% range. Most market participants had expected such an increase, with only a 21% chance of a 100 bps rate hike seen prior to the announcement.
Fed raises key interest rate 0.75 point amid red-hot inflation
The Federal Reserve raised the key US interest rate again Wednesday and said more hikes are coming as it battles soaring prices. It was the third consecutive increase of 0.75 percentage point by the Fed’s policy-setting Federal Open Market Committee (FOMC), continuing the aggressive action to tamp down inflation that has soared to the highest in 40 years.
The increase takes the policy rate to 3.0-3.25 percent, and the FOMC said it “anticipates that ongoing increases… will be appropriate.”
Centre asks Punjab, Haryana to strive for achieving zero stubble burning
Union Minister for Agriculture and Farmers Welfare Narendra Singh Tomar on Wednesday called upon the state governments of Punjab, Haryana, Uttar Pradesh and NCT of Delhi to strive for achieving zero stubble burning in the very near future. He promised all central help to achieve this mission and added that this is a kind of curse on these states, as they receive a lot of public ire due to negative media publicity. Tomar said, Rs 600 crore was already provided to the States this financial year and they have the unspent amount of Rs 300 Crore, which should be utilized properly. Moreover, about 2 lakh machines have been made available to the States.
Citigroup to wind down UK retail bank
Citigroup Inc is planning to shutter its retail bank in the UK, the Financial Times reported on Wednesday, citing a statement from the bank.
NY attorney general sues Donald Trump and his company
New York’s attorney general sued former President Donald Trump and his company for fraud on Wednesday, alleging they padded his net worth by billions of dollars by manipulating the value of prized assets including golf courses, hotels and his homes at Trump Tower and Mar-a-Lago. Attorney General Letitia James dubbed it: “The art of the steal.” James’ lawsuit, filed in state court in New York, is the culmination of the Democrat’s three-year civil investigation of Trump and the Trump Organization. Trump’s three eldest children, Donald Jr., Ivanka and Eric Trump, were also named as defendants, along with two longtime company executives, Allen Weisselberg and Jeffrey McConney.
Iran says it’s ready for new nuclear deal
Iran’s president insisted Wednesday that his country is serious about reviving a deal meant to prevent it from acquiring a nuclear bomb but questioned whether Tehran could trust America’s commitment to any eventual accord.
The US had already “trampled” on a previous deal, President Ebrahim Raisi told the UN General Assembly, referring to America’s decision to pull out of the accord in 2018.
Ever since Iran’s 1979 revolution that overthrew its Western-backed shah, Tehran has been at odds with the United States and has sought to project itself as a counterweight to American power.
NSCN holds talks with government on Naga issue, requests for meet with PM
Naga insurgent group NSCN-IM on Wednesday held a meeting with a government representative in an effort to find a permanent solution to the decades-old vexed problem, officials said. The NSCN-IM delegation, led by senior leader V S Atem, met interlocutor A K Mishra at an undisclosed location in the national capital.
The participants discussed the rebel group’s core demands, including a separate flag for the Nagas.
Amnesty says Egypt trying to cover up rights violations
Amnesty International accused Egypt on Wednesday of attempting to cover up a decade of “unrelenting violations of human rights” in order to improve its international standing ahead of hosting the world climate summit. Egypt’s human rights record has come under intensified scrutiny ahead of the November global COP27 summit in the Red Sea resort of Sharm el-Sheikh. Dozens of international rights groups have called on Egypt to end its crackdown on civil society and protect freedom of expression.
Bloomberg to spend $85 million against U.S. plastic, petrochem buildout
Former New York City Mayor Michael Bloomberg launched an $85 million campaign to block the planned construction of plastic and petrochemical plants across the U.S. on Wednesday, modeled on his decade-long effort to shutter coal plants. Bloomberg, the billionaire businessman who currently serves as a United Nations Special Envoy on climate ambition, announced his philanthropic organization’s Beyond Petrochemicals campaign will “turbocharge” efforts by local communities in places like Louisiana’s Cancer Alley, Texas and Appalachia to block the permitting and construction of heavy emitting plants.
Russia ‘shamelessly violated’ UN Charter in Ukraine, says Biden
President Joe Biden declared at the United Nations Wednesday that Russia has “shamelessly violated the core tenets” of the UN with its “brutal, needless war” in Ukraine. He said the war is an affront to the heart of what the international body stands for as he looked to rally allies to stand firm in backing the Ukrainian resistance.
Delivering a forceful condemnation of Russia’s seven-month invasion, Biden said reports of Russian abuses against civilians in Ukraine “should make your blood run cold.” And he said President Vladimir Putin’s new nuclear threats against Europe showed “reckless disregard” for Russia’s responsibilities as a signer of the Treaty on the Non-Proliferation of Nuclear Weapons.
Growing cholera outbreak in Syria infects hundreds, 39 dead
A deadly cholera outbreak in Syria has killed at least 39 people and infected hundreds more this past month, health officials said Wednesday, raising concerns about whether the war-torn country can put a stop to its spread. The U.N. and Syria’s Health Ministry have said the source of the outbreak is believed to be linked to people drinking unsafe water from the Euphrates River and using contaminated water to irrigate crops, resulting in food contamination. The outbreak hit government-held parts of the country as well as the areas in the northeast. Syria’s health services have suffered heavily from its yearslong war and much of the country is short on cleaning water supplies.
UK government caps energy bills for businesses for 6 months
Britain’s government said Wednesday it will cap wholesale energy bills for businesses this winter to ensure companies don’t go bust amid soaring energy prices. Authorities said the government will pick up nearly half of all business energy bills for six months starting Oct. 1 to ensure companies “are able to get through this winter.”
“We’re going to review it after six months. We’ll make sure that the most vulnerable businesses like pubs, like shops, continue to be supported after that,” said Prime Minister Liz Truss, who is in New York to attend the U.N. General Assembly.
U.S. CDC expects Omicron COVID boosters for kids by mid-October
The U.S. Centers for Disease Control and Prevention expects COVID-19 vaccine boosters targeting circulating variants of the virus to be available for children aged 5-11 years by mid-October.
The CDC said in a document released on Tuesday that it expects to make a recommendation in early- to mid-October on the use of the new bivalent vaccines in the group, if they are authorized by the U.S. Food and Drug Administration (FDA
Instagram disrupted across Iran amid protests
Iranians saw their access to Instagram, one of the few Western social media platforms still available in the country, disrupted on Wednesday following days of mass protests over the death of a woman who was detained by the morality police. NetBlocks, a London-based group that monitors internet access, reported widespread disruptions. Witnesses inside Iran, who spoke on condition of anonymity out of security concerns, said they were unable to log on using mobile phones or home connections. There was no immediate comment from Iranian authorities on the disruption to Instagram, which would limit the ability of protesters to organize and share information.
Pakistan gets debt relief of $160 million from Japan
Japan has agreed to defer around USD 160 million debt for cash-strapped Pakistan as the last phase of the G20 Debt Service Suspension Initiative (DSSI), according to an official statement on Wednesday. Prior to this, both governments agreed on the first debt deferral amounting to around USD 370 million on April 27, 2021 and the second debt deferral amounting to about USD 200 million on October 22, 2021, under the same initiative.
The total amount of deferred debt has reached around USD 730 million, which will widen the fiscal space for the Pakistan government to restore its economy affected by the COVID-19 pandemic and the flood disaster.
BJP president J P Nadda on 2-day visit to Tamil Nadu
BJP president J P Nadda will be on a two- day visit to Tamil Nadu from Thursday where he will address a public meeting besides holding several party meetings.
BJP chief spokesperson Anil Baluni said Nadda will address a rally at Karaikudi on Thursday and meet eminent personalities from various fields in Madurai.
Sebi takes measures to strengthen firewall between CRAs, non-rating entities
Markets regulator Sebi on Wednesday asked credit rating agencies (CRAs) to formulate a policy on firewall practices with the non-rating entities and document the same in their internal operational manuals. Such a policy will have to be ratified by the board of directors of the CRAs, the Securities and Exchange Board of India (Sebi) said in a circular. In addition, a CRA will have to disclose on its website, details of any common director or chief executive officer or managing director between the CRA and the non-rating entity.
Future gets a breather
Registrar Of Companies grants Future Ent extension for a period of 3 months to hold #AGM before Dec 31, 2022
“Kerala Governor’s press conference at Raj Bhavan unprecedented”
Kerala Chief Minister Pinarayi Vijayan on Wednesday lashed out at Governor Arif Mohammed Khan for his recent press conference convened against the state government terming it as “unprecedented” and accused him of turning Raj Bhavan into a centre of “political conspiracy”.
Vijayan said there are formal channels and established norms for the communication between the government and the Governor. The press conference held at Raj Bhavan was unprecedented not only in Kerala but even in the country itself, the Chief Minister said.
Biden to announce $2.9 bln in food security funding during U.N. speech
President Joe Biden will announce $2.9 billion in additional U.S. funding to address global food insecurity during an address on Wednesday to the United Nations General Assembly, the White House said.
The announcement builds on $6.9 billion in U.S. food security funding already committed this year, the White House said. During his speech on Wednesday morning, Biden is also expected to deliver a rebuke of Russia’s war in Ukraine.
Smriti Mandhana becomes fastest Indian woman to complete 3000 runs in ODI
India’s star batter Smriti Mandhana on Wednesday crossed the 3000 runs milestone in the One Day International format, becoming the third Indian player to achieve the landmark in women’s ODIs. Mandhana reached the feat in her 76th ODI innings, surpassing India legend Mithali Raj who crossed the mark in 88 innings.
Punjab Governor Banwarilal Purohit withdraws order summoning special Assembly session on Thursday for AAP government’s confidence motion
UN awards India’s large-scale initiative against hypertension
In a significant achievement and recognition of the country’s efforts against hypertension, India has won a UN award for its “India Hypertension Control Initiative (IHCI)”, a large-scale hypertension intervention under National Health Mission. In an official release, the Government of India (GOI) said IHCI has been recognized for its exceptional work within India’s existing primary healthcare system.A collaborative initiative of the Ministry of Health and Family Welfare, the Indian Council of Medical Research (ICMR), State Governments and the World Health Organization-India, IHCI has won the ‘2022 UN Interagency Task Force, and WHO Special Programme on Primary Health Care Award’ at the UN General Assembly side event held on September 21 in New York, US.
Manipur Cabinet gives nod to partially lift prohibition
The Manipur government has decided to partially lift prohibition from all the district headquarters, tourist destinations, and camps of security forces, as part of a new policy which will help generate Rs 600 crore as annual revenue. The state Cabinet took the decision to partially lift the ban on brewing, consumption and sale of liquor at a meeting on Tuesday, Tribal Affairs and Hills Development Minister Letpao Haokip told reporters. However, those transporting liquor from one place to another would require possessing a permit, Haokip said.
Iran targeted by apparent cyberattack amid protests
The website of Iran’s Central Bank was briefly taken down on Wednesday as the anonymous hacking group claimed it had targeted the websites of several Iranian state agencies. The apparent cyberattack came amid days of protests over the death of a woman who was detained by the country’s morality police for allegedly wearing her Islamic headscarf too loosely. It also came hours before Iran’s President Ebrahim Raisi was to address the United Nations General Assembly.
Delhi Disaster Management Authority meet on Sep 22 to review Covid situation
The Delhi Disaster Management Authority (DDMA) will meet on Thursday to review the Covid situation here and conduct an assessment of dedicated resources deployed at hospitals to tackle the infection, officials said. In its last meeting in April, the DDMA had made it mandatory for people to wear face masks at public places and prescribed a fine of Rs 500 against defaulters.
Arrest in ABG Shipyard fraud case
CBI arrests former chairman of ABG Shipyard Rishi Kamlesh Agrawal in Rs₹22,842 crore bank fraud
Anil Khanna quits as IOA acting president, takes dig at IOC
Senior sports administrator Anil Khanna on Wednesday quit as acting president of the Indian Olympic Association (IOA), almost two weeks after IOC refused to recognise any “acting/interim president”. The International Olympic Committee (IOC) had, on September 8, issued a suspension threat, saying the IOA must hold elections by December this year. Khanna took charge of IOA after a court ruling ended Narinder Batra’s reign as chief of the apex sports body in the country.
Charge sheets filed in Gujarat riots evidence fabrication case
Charge sheet filed against Teesta Setalvad, R B Sreekumar and Sanjiv Bhatt in Ahmedabad magistrate’s court in case of alleged fabrication of evidence in connection with Gujarat riots cases.
Adani Group to invest $3 billion in West Bengal port
The Adani Group will develop a $3 billion port in West Bengal as the conglomerate tightens its grip over the local infrastructure and logistics sectors, reports Bloomberg
Reliance Retail in talks to get India rights for beauty retailer Sephora
China calls for ‘ceasefire through dialogue’ following Putin address on Ukraine
China on Wednesday called for a “ceasefire through dialogue and consultation”, following Russian President Vladimir Putin’s address on Ukraine in which he announced a partial military mobilisation.
Anti-conversion bill passed in Karnataka assembly
Amid opposition Congress’ protest and walkout, Karnataka Legislative Assembly on Wednesday passed the “anti-conversion bill”, passed by the Legislative Council last week with minor amendments, seeking to replace the ordinance that was in place to give effect to the bill.
The ‘Karnataka Protection of Right to Freedom of Religion Bill’ was earlier passed by the Legislative Assembly in December last. As the bill was pending for passage in the Legislative Council, where the ruling BJP was short of majority then, the government had subsequently promulgated an ordinance in May this year to give effect to the bill.
Odisha civil services’ exam on Oct 16
The Odisha Public Service Commission announced on Wednesday that the preliminary examination of the civil services would be held on October 16. In a notice, the OPSC said it decided to conduct the exam in five zones — Bhubaneswar, Cuttack, Balasore, Berhampur and Sambalpur — on the specified date, which falls on Sunday. The timings for the two papers of general studies are 10 am and 1.30 pm respectively and the duration is 2 hours for each exam. The persons with disabilities will be given 40 minutes extra for each sitting, it said.
Odisha to witness heavy rainfall in next 24 hrs: IMD
In next 24 hrs heavy rainfall is expected in 7 districts incl Sundargarh, Jharsuguda, Cuttack, Khordha, Puri & Sambalpur, along with thunderstorms & lightning in a few districts. Thereafter rainfall is expected to reduce, informed IMD Umashankar Das, Senior Scientist.
India examining allowing some rice export cargoes trapped at ports: Govt
India is examining allowing the export of some rice cargoes stuck at ports after a ban was imposed earlier this month, a government official said on Wednesday on the condition of anonymity. Indian exporters have requested the government to allow them to ship out 100% broken rice that has piled up at ports.
‘Bharat Jodo Yatra’ update: Savarkar pic being covered by Gandhi in campaign poster
Picture of VD Savarkar being covered by a picture of Mahatma Gandhi on the campaign poster of ‘Bharat Jodo Yatra’ that was put up in Kochi earlier today
Raju Srivastava Death News Live: AIIMS doctor on comedian post-mortem
Raju Srivastav’s post-mortem has been done with a new technique called Virtual Autopsy. It does not require any dissection. The whole process took 15 to 20 minutes, after which the body was handed over to his family, said Dr Sudhir Gupta, Head, Department of Forensic Medicine, AIIMS.
Bhubaneswar sky turns dark
Sky turns dark in Bhubaneswar, Odisha as the region receives heavy rainfall. Under the influence of low pressure over the north-west area adjoining west-central Bay of Bay, Odisha to witness heavy to heavy rainfall in seven districts.
Amid Cong presidential polls buzz, Rajasthan CM Ashok Gehlot meets party chief Sonia Gandhi in Delhi
Another aide of AAP MLA Amanatullah Khan, Kausar Imam Siddiqui alias Laddan apprehended from Telangana, said Delhi Police
SpiceJet to operate on 50% capacity till Oct 29
Aviation Regulator Directorate General of Civil Aviation (DGCA) extends restrictions on SpiceJet to operate only 50% of departures till October 29, 2022.
Raju Srivastav’s nephew on comedian demise
Raju Srivastav’s nephew Mridul Srivastav said, “he was our family’s pillar…All big leaders, including PM called, CM Yogi is in touch daily. Postmortem being conducted as he was unconscious when brought in (at AIIMS Delhi) & no one was there by his side, MLC was made at that time.”
Market closing bell
Sensex falls 262.96 points to end at 59,456.78; Nifty declines 97.90 points to 17,718.35.
Rupee falls 26 paise to close at 80.00 (provisional) against US dollar
Cabinet brief Update:
Cabinet approved modifications in scheme for development of semiconductors, display manufacturing ecosystem, said Union Minister Anurag Thakur.
Cabinet brief: Cabinet approves National Logistics Policy
Cabinet approved National Logistics Policy. It’ll introduce ULIP, standardization, monitoring framework & skill development for greater efficiency in logistics services. Target is to improve Logistics Performance Index ranking,be among top 25 countries by 2030, said Union Min A Thakur.
World Test Championship 2023 Final to be hosted by The Oval in June 2023
The World Test Championship 2023 Final will be hosted by The Oval in June 2023 while the 2025 Final will be played at Lord’s. The two venues in London will succeed Southampton, which hosted the inaugural final b/w New Zealand and India in 202, announced International Cricket Council (ICC).
Cabinet approves PLI scheme for Solar PV modules
Cabinet has approved Production Linked Incentive (PLI) Scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in High Efficiency Solar PV Modules, said Union Minister Anurag Thakur.
One-way flights out of Russia sell out fast after President Vladimir Putin ordered the immediate call-up of 300,000 reservists
Raju Srivastava Death News Live: Funeral to be held tomorrow
Funeral of comedian Raju Srivastav to be held tomorrow, September 22, at Nigambodh Ghat in Delhi, confirms his family.
Yasin Malik to physically present in next hearing on Oct 20
Yasin Malik will be physically present to cross-examine in the next hearing on October 20th (as he is his own lawyer), said CBI lawyer Monika Kohli.
Hijab row: Matter is simple case of discipline in edu institutions
ASG KM Nataraj said, all religious rights must be balanced and no one can say that they have an absolute right. The matter doesn’t require referring to a larger bench as the matter is a simple case of discipline in educational institutions.
PM Modi allots Rs 2,700 cr for retaining glory of Nalanda University: Nadda
Educational institutes are on the path to revival. Rs 2,700 crores has been allotted by PM Modi for retaining the glory of Nalanda University, announced BJP national president JP Nadda at the Professors Summit.
Raju Srivastava Death News Live: Mortal remains taken by family members
Mortal remains of comedian Raju Srivastava being taken out of AIIMS, where he passed away after being admitted there for over a month.
Assam CM meets Mizoram CM; discuss various border issue
Assam CM Himanta Biswa Sarma said, he met Mizoram CM and discussed various issues concerning both the states, especially regarding the border issue. A team recently visited Aizawl to inspect the same. Both minister met at Assam House in Delhi today to resolve the long-standing border issues. Assam CM said, “We’re also in the process of forming a regional committee to discuss & resolve the border issues between the two states.”
Cabinet briefing preponed to 3:15 pm
Special PMLA Court takes cognizance filed by ED against Pankaj Mishra
Special PMLA Court, Ranchi took cognizance of the prosecution complaint filed by ED against Pankaj Mishra, the MLA representative of CM Hemant Soren, Prem Prakash and Bachchu Yadav. ED had filed a prosecution complaint against these persons in illegal mining case on September 16.
Businessman Robert Vadra apologies
Robert Vadra apologised over his Dubai stay for a medical emergency in August this year and as Delhi High Court had issued a showcause notice asking him why his fixed deposit (FD) submitted with the court should not be forfeited. The court noted that the itinerary and the travel tickets for his UK trip indicated that Robert Vadra all along intended to stay in Dubai from August 25 to 29.
Actor Mahesh Thakur files fraud case in Amboli police
Actor Mahesh Thakur filed a fraud case at Amboli police station in Mumbai against a person named Mayank Goyal, alleging that Mayank has cheated him of about Rs 5.43 crores. Case filed u/s 420 & 406; investigation underway, informed Mumbai Police.