Union Commerce and Industry Minister Piyush Goyal has hailed the Cabinet decision to liberalise sourcing norms for single-brand retail.

"The big companies of single-brand retail have put up small factories in India. They are not able to get economies of scale. They cannot get contract manufacturing done from third parties. Their domestic sourcing too remains limited," he said.

India has integrated itself to the laws prevailing at an international level. The new norms will give India a certain place in the global value chain, he said.

"Going forward, this holistic and comprehensive approach will encourage exports, Foreign Direct Investment (FDI) will come in bigger numbers, and big manufacturing opportunities which is the need of the hour will come," said Goyal on Wednesday.

The new norms will give a boost to the Make in India initiative. "For that, this is an important decision," he said.

The Union Cabinet liberalised sourcing norms for single-brand retail and allowed 26 per cent FDI in the digital media. It also decided that single-brand retail trading entities can do retail online trade prior to the opening of brick-and-mortar stores.

Goyal had said the decisions have been taken to make the country an attractive destination for FDI. Referring to the decision to ease local sourcing norms for FDI in Single Brand Retail Trading (SBRT), he said that it had been announced in the Union Budget.

"This will lead to greater flexibility and ease of operations for SBRT entities besides creating a level-playing field for companies with higher exports in a base year," he had said.

The minister said that extant FDI Policy provides that 30 per cent of the value of goods has to be procured from India if SBRT entity has FDI more than 51 per cent. As regards local sourcing requirement, the same can be met as an average during the first five years and thereafter annually towards its India operations.

"It has been decided that all procurements made from India by the SBRT entity for that single brand shall be counted towards local sourcing, irrespective of whether the goods procured are sold in India or exported. The current cap of considering exports for five years only is proposed to be removed, to give an impetus to exports."

Union Commerce and Industry Minister Piyush Goyal has hailed the Cabinet decision to liberalise sourcing norms for single-brand retail. "The big companies of single-brand retail have put up small factories in India.

Union Commerce and Industry Minister Piyush Goyal has hailed the Cabinet decision to liberalise sourcing norms for single-brand retail. "The big companies of single-brand retail have put up small factories in India. They are not able to get economies of scale. They cannot get contract manufacturing done from third parties. Their domestic sourcing too remains limited," he said. India has integrated itself to the laws prevailing at an international level. The new norms will give India a certain place in the global value chain, he said. "Going forward, this holistic and comprehensive approach will encourage exports, Foreign Direct Investment (FDI) will come in bigger numbers, and big manufacturing opportunities which is the need of the hour will come," said Goyal on Wednesday. The new norms will give a boost to the Make in India initiative. "For that, this is an important decision," he said. The Union Cabinet liberalised sourcing norms for single-brand retail and allowed 26 per cent FDI in the digital media. It also decided that single-brand retail trading entities can do retail online trade prior to the opening of brick-and-mortar stores. Goyal had said the decisions have been taken to make the country an attractive destination for FDI. Referring to the decision to ease local sourcing norms for FDI in Single Brand Retail Trading (SBRT), he said that it had been announced in the Union Budget. "This will lead to greater flexibility and ease of operations for SBRT entities besides creating a level-playing field for companies with higher exports in a base year," he had said. The minister said that extant FDI Policy provides that 30 per cent of the value of goods has to be procured from India if SBRT entity has FDI more than 51 per cent. As regards local sourcing requirement, the same can be met as an average during the first five years and thereafter annually towards its India operations. "It has been decided that all procurements made from India by the SBRT entity for that single brand shall be counted towards local sourcing, irrespective of whether the goods procured are sold in India or exported. The current cap of considering exports for five years only is proposed to be removed, to give an impetus to exports."

India integrated itself to laws prevailing at international level, new norms to give certain place in global value chain: Piyush Goyal

The Amazon forest fires in distant Brazil matter very much to India too. India is the world's biggest importer of edible oils -- like palm, soybean, canola and sunflower oil. Bulk of these oils are imported from Argentina, Brazil, Malaysia, Indonesia, Ukraine and Canada. Any impact on the production of these edible oils will hurt India. This is the immediate economic impact. Then there is the long-term environmental impact which has far-reaching consequences.

It's clear that the world is staring at a climate emergency. The fires in the Amazon rainforests have brought several issues to the fore. Some of these issues, like rising deforestation and the need to preserve forest cover, are disconcerting. Across the world, the forest cover is getting destroyed with each passing year. In the last three decades, except in 1992, forest area has decreased in size every year. The Indian government has consciously attempted to increase the forest cover in the country. Since 2015, India has added nearly 7000 square kilometres of forest cover. According to official data, most states have seen an increase in forest cover. This is a welcome change.

India and Brazil have a common interest. Like Brazil, India is also home to tropical forests and has the knowledge and technology to save biodiversity. India is the one of few countries that has managed to increase the forest cover and could share its knowledge with Brazil. Besides, BRICS should come up with some plans to help Brazil. The grouping – in which B stands for Brazil -- was formed for better co-operation between the four developing countries. BRICS has a bank, and as countries like Brazil and Bolivia struggle to contain the fires in the Amazon basin, BRICS could intervene to help in a big. And, lead the way for the rest of the world. 
 
(Disclaimer: WION Edit is the channel's take on the big events of the world)

The Amazon forest fires in distant Brazil matter very much to India too. India is the world's biggest importer of edible oils -- like palm, soybean, canola and sunflower oil.

The Amazon forest fires in distant Brazil matter very much to India too. India is the world's biggest importer of edible oils -- like palm, soybean, canola and sunflower oil. Bulk of these oils are imported from Argentina, Brazil, Malaysia, Indonesia, Ukraine and Canada. Any impact on the production of these edible oils will hurt India. This is the immediate economic impact. Then there is the long-term environmental impact which has far-reaching consequences. It's clear that the world is staring at a climate emergency. The fires in the Amazon rainforests have brought several issues to the fore. Some of these issues, like rising deforestation and the need to preserve forest cover, are disconcerting. Across the world, the forest cover is getting destroyed with each passing year. In the last three decades, except in 1992, forest area has decreased in size every year. The Indian government has consciously attempted to increase the forest cover in the country. Since 2015, India has added nearly 7000 square kilometres of forest cover. According to official data, most states have seen an increase in forest cover. This is a welcome change. India and Brazil have a common interest. Like Brazil, India is also home to tropical forests and has the knowledge and technology to save biodiversity. India is the one of few countries that has managed to increase the forest cover and could share its knowledge with Brazil. Besides, BRICS should come up with some plans to help Brazil. The grouping – in which B stands for Brazil -- was formed for better co-operation between the four developing countries. BRICS has a bank, and as countries like Brazil and Bolivia struggle to contain the fires in the Amazon basin, BRICS could intervene to help in a big. And, lead the way for the rest of the world. (Disclaimer: WION Edit is the channel's take on the big events of the world)

WION Edit: Amazon Fires - Challenge to India and Developing World

<a href="https://www.wionews.com/world/jaishankar-briefs-russian-foreign-minister-lavrov-on-kashmir-discusses-upcoming-visit-of-pm-modi-to-russia-246240">External Affairs Minister S Jaishankar</a> met Poland's Prime Minister Mateusz Morawiecki here on Wednesday and discussed ways in which mutual cooperation could benefit both the countries.

"A good meeting on arrival in Warsaw. Thank PM @MorawieckiM for receiving me. Discussed ways in which our mutual cooperation could benefit both countries and contribute to global security," Jaishankar tweeted.

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A good meeting on arrival in Warsaw. Thank PM <a href="https://twitter.com/MorawieckiM?ref_src=twsrc%5Etfw">@MorawieckiM</a> for receiving me. Discussed ways in which our mutual cooperation could benefit both countries and contribute to global security. <a href="https://t.co/Eno1n9cjLa">pic.twitter.com/Eno1n9cjLa</a>
— Dr. S. Jaishankar (@DrSJaishankar) <a href="https://twitter.com/DrSJaishankar/status/1166825047278804992?ref_src=twsrc%5Etfw">August 28, 2019</a></blockquote>
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Prior to this, he held a meeting with his Russian counterpart Sergey Lavrov in Moscow where a wide range of issues were discussed.

"A truly special and privileged strategic partnership. Discussed a wide range of issues in a very warm atmosphere with FM Lavrov. A meeting of minds on important questions of the day. Appreciated full understanding of India's core interests," Jaishankar had stated after the meeting.

They also reviewed preparations for Prime Minister Narendra Modi's visit to Vladivostok next week.

Modi will be the chief guest at the 5th Eastern Economic Forum (EEF) in Vladivostok which will be held from September 4 to 6.

The EEF is an international forum held each year since 2015 in September. The forum seeks to encourage foreign investment in the Russian Far East that is famous for the world's largest mineral and energy reserves.

External Affairs Minister S Jaishankar met Poland's Prime Minister Mateusz Morawiecki here on Wednesday and discussed ways in which mutual cooperation could benefit both the countries.

External Affairs Minister S Jaishankar met Poland's Prime Minister Mateusz Morawiecki here on Wednesday and discussed ways in which mutual cooperation could benefit both the countries. "A good meeting on arrival in Warsaw. Thank PM @MorawieckiM for receiving me. Discussed ways in which our mutual cooperation could benefit both countries and contribute to global security," Jaishankar tweeted. A good meeting on arrival in Warsaw. Thank PM @MorawieckiM for receiving me. Discussed ways in which our mutual cooperation could benefit both countries and contribute to global security. pic.twitter.com/Eno1n9cjLa — Dr. S. Jaishankar (@DrSJaishankar) August 28, 2019 × Prior to this, he held a meeting with his Russian counterpart Sergey Lavrov in Moscow where a wide range of issues were discussed. "A truly special and privileged strategic partnership. Discussed a wide range of issues in a very warm atmosphere with FM Lavrov. A meeting of minds on important questions of the day. Appreciated full understanding of India's core interests," Jaishankar had stated after the meeting. They also reviewed preparations for Prime Minister Narendra Modi's visit to Vladivostok next week. Modi will be the chief guest at the 5th Eastern Economic Forum (EEF) in Vladivostok which will be held from September 4 to 6. The EEF is an international forum held each year since 2015 in September. The forum seeks to encourage foreign investment in the Russian Far East that is famous for the world's largest mineral and energy reserves.

Foreign minister Jaishankar holds meeting with Poland Prime Minister, discusses mutual cooperation

Teenage climate campaigner Greta Thunberg said the "war on nature must end" and called on Donald Trump to listen to science after she sailed into New York on a zero-emissions yacht Wednesday.

The 16-year-old completed a 15-day journey across the Atlantic shortly after 4:00 pm, stepping off the boat onto a Manhattan dock to cheering crowds chanting her name.

"It is devastating and so horrible. It's hard to imagine. They are a clear sign that we need to stop destroying nature," she told waiting reporters when asked how she felt about raging fires in the Amazon, the world's largest rainforest.

The Swede also rebuked Trump, a notorious climate change sceptic.&nbsp;

"My message for him is listen to the science and he obviously doesn't do that," she said, as she brought her environmental message to the United States for the first time.

Thunberg poked fun at the president too by saying she was "pretty sure" windmills don't cause cancer, in reference to a comment Trump made at a Republican fundraising event in April.

The teenager has become a symbol for climate action with her stark warnings of catastrophe if the world does not act now to cut carbon emissions and curb global warming.

Thunberg, who was diagnosed with Asperger syndrome at the age of 12, began sitting outside the Swedish parliament in August 2018 to get members to act on climate change.

She was quickly joined by other students around the world, as word of her strike spread through the media, and the "Fridays for future" movement was born.

She will attend a summit on zero emissions at the United Nations next month but refused to fly because of the carbon emissions caused by planes.

The Swede was offered a ride on the Malizia II racing yacht skippered by Pierre Casiraghi, the son of Monaco's Princess Caroline, and German round-the-world sailor Boris Herrmann.

Thunberg has received criticism and abuse for her uncompromising attitude, however.

'Insane'

Her voyage sparked controversy after a spokesman for co-skipper Herrmann told Berlin newspaper TAZ that several people would fly into New York to help take the yacht back to Europe.

Hermann himself will also return by plane, according to the spokesman.

Team Malizia's manager insisted, though, that the young activist's journey would be climate neutral, as the flights would "be offset."

A few hundred well-wishers and activists clapped and chanted "Greta, Greta, Greta" as she completed her 3,000-nautical-mile (5,550 kilometers) trip under overcast skies.

She passed the Statue of Liberty and headed up the Hudson River before docking at North Cove Marina near the World Trade Center.

The United Nations sent a flotilla of 17 sailboats, one for each of its sustainable development goals for 2030, to welcome her.

Thunberg endured rough seas and cramped conditions but said she never felt seasick once. She ate freeze-dried food and used a bucket as a toilet.

"It's insane that a 16-year-old has to cross the Atlantic Ocean to make a stand. This, of course, is not something that I want everyone to do," she said, smiling.

Thunberg added that she planned to rest before joining youngsters striking outside the UN on Friday.

The Malizia II yacht left Plymouth in southern England on August 14, and the teenager marked the first anniversary of the start of her school strike on August 20.

The 18-meter yacht features state-of-the-art solar panels on its deck and sides, and two hydro-generators provide the vessel's electricity.

It can travel at speeds of around 35 knots (70 kilometers an hour).

Thunberg has said that she does not yet know how she will return to Europe.

Ahead of the UN summit on September 23, Thunberg will take part in youth demonstrations, before heading to Canada, Mexico and then to Chile for another UN conference in December.

Teenage climate campaigner Greta Thunberg said the "war on nature must end" and called on Donald Trump to listen to science after she sailed into New York on a zero-emissions yacht Wednesday.

Teenage climate campaigner Greta Thunberg said the "war on nature must end" and called on Donald Trump to listen to science after she sailed into New York on a zero-emissions yacht Wednesday. The 16-year-old completed a 15-day journey across the Atlantic shortly after 4:00 pm, stepping off the boat onto a Manhattan dock to cheering crowds chanting her name. "It is devastating and so horrible. It's hard to imagine. They are a clear sign that we need to stop destroying nature," she told waiting reporters when asked how she felt about raging fires in the Amazon, the world's largest rainforest. The Swede also rebuked Trump, a notorious climate change sceptic. "My message for him is listen to the science and he obviously doesn't do that," she said, as she brought her environmental message to the United States for the first time. Thunberg poked fun at the president too by saying she was "pretty sure" windmills don't cause cancer, in reference to a comment Trump made at a Republican fundraising event in April. The teenager has become a symbol for climate action with her stark warnings of catastrophe if the world does not act now to cut carbon emissions and curb global warming. Thunberg, who was diagnosed with Asperger syndrome at the age of 12, began sitting outside the Swedish parliament in August 2018 to get members to act on climate change. She was quickly joined by other students around the world, as word of her strike spread through the media, and the "Fridays for future" movement was born. She will attend a summit on zero emissions at the United Nations next month but refused to fly because of the carbon emissions caused by planes. The Swede was offered a ride on the Malizia II racing yacht skippered by Pierre Casiraghi, the son of Monaco's Princess Caroline, and German round-the-world sailor Boris Herrmann. Thunberg has received criticism and abuse for her uncompromising attitude, however. 'Insane' Her voyage sparked controversy after a spokesman for co-skipper Herrmann told Berlin newspaper TAZ that several people would fly into New York to help take the yacht back to Europe. Hermann himself will also return by plane, according to the spokesman. Team Malizia's manager insisted, though, that the young activist's journey would be climate neutral, as the flights would "be offset." A few hundred well-wishers and activists clapped and chanted "Greta, Greta, Greta" as she completed her 3,000-nautical-mile (5,550 kilometers) trip under overcast skies. She passed the Statue of Liberty and headed up the Hudson River before docking at North Cove Marina near the World Trade Center. The United Nations sent a flotilla of 17 sailboats, one for each of its sustainable development goals for 2030, to welcome her. Thunberg endured rough seas and cramped conditions but said she never felt seasick once. She ate freeze-dried food and used a bucket as a toilet. "It's insane that a 16-year-old has to cross the Atlantic Ocean to make a stand. This, of course, is not something that I want everyone to do," she said, smiling. Thunberg added that she planned to rest before joining youngsters striking outside the UN on Friday. The Malizia II yacht left Plymouth in southern England on August 14, and the teenager marked the first anniversary of the start of her school strike on August 20. The 18-meter yacht features state-of-the-art solar panels on its deck and sides, and two hydro-generators provide the vessel's electricity. It can travel at speeds of around 35 knots (70 kilometers an hour). Thunberg has said that she does not yet know how she will return to Europe. Ahead of the UN summit on September 23, Thunberg will take part in youth demonstrations, before heading to Canada, Mexico and then to Chile for another UN conference in December.

'War on nature must end,' says activist Greta Thunberg in New York

Prime Minister Narendra Modi on Thursday launched a nation-wide <a href="https://www.wionews.com/india-news/sports-minister-rijiju-expresses-happiness-over-fit-india-movements-launch-on-dhyan-chands-birth-anniversary-246358">'Fit India Movement'</a> at Indira Gandhi Stadium complex in the national capital.

The Prime Minister also administered a fitness pledge on the occasion.

'Fit India movement', was launched on the occasion of the National Sports Day -- the birth anniversary of Major Dhyan Chand, which aims to encourage people to inculcate physical activity and sports in their everyday lives.

"On this day a great sportsperson was born, Major Dhyan Chand. He amazed the world with his fitness, stamina, and hockey stick," Modi said at the event.

Ahead of the launch, students from different schools presented a stellar performance before the Prime Minister and other attendees.

All educational institutes have been instructed to prepare and implement a fitness plan incorporating sports, exercises or other physical activities for fitness, into the daily routine.

Ahead of the event launch, Union Minister of Youth Affairs and Sports, Kiren Rijiju tweeted, "As PM Narendra Modi ji is launching Fit India Movement, I'm extremely excited to see Chief Ministers making clarion call to citizens in their respective States for fitness. Here is the message of the CM of Tripura Biplab Deb Kumar ji."

Union Defence Minister Rajnath Singh also expressed his happiness over fitness movement launch. He tweeted, "I am also happy to know that the Prime Minister Shri @narendramodi himself is going to launch the #FitIndiaMovement today to mark the National Sports Day. I appeal to everyone to join this fitness movement and make a 'Fitter &amp; Better India'."

During his latest 'Mann Ki Baat' radio address, Modi had asked people to take part in the 'Fit India Movement'.

"During today's Mann Ki Baat, I have made some requests to my fellow Indians: Visit iconic places relating to Bapu as a part of his 150th Jayanti. Travel to places related to nature and wildlife. Strengthen Poshan Abhiyan. Be a part of Fit India movement," he had said.

This is not the first time that the Modi government has launched a fitness campaign. It was Prime Minister who, through the United Nations as a forum, urged the world to observe International Yoga Day on June 21 every year. The government last year had come up with #HumFitTohIndiaFit campaign in which people from all walks of life participated by sharing their exercise regimes.

Prime Minister Narendra Modi on Thursday launched a nation-wide 'Fit India Movement' at Indira Gandhi Stadium complex in the national capital. The Prime Minister also administered a fitness pledge on the occasion.

Prime Minister Narendra Modi on Thursday launched a nation-wide 'Fit India Movement' at Indira Gandhi Stadium complex in the national capital. The Prime Minister also administered a fitness pledge on the occasion. 'Fit India movement', was launched on the occasion of the National Sports Day -- the birth anniversary of Major Dhyan Chand, which aims to encourage people to inculcate physical activity and sports in their everyday lives. "On this day a great sportsperson was born, Major Dhyan Chand. He amazed the world with his fitness, stamina, and hockey stick," Modi said at the event. Ahead of the launch, students from different schools presented a stellar performance before the Prime Minister and other attendees. All educational institutes have been instructed to prepare and implement a fitness plan incorporating sports, exercises or other physical activities for fitness, into the daily routine. Ahead of the event launch, Union Minister of Youth Affairs and Sports, Kiren Rijiju tweeted, "As PM Narendra Modi ji is launching Fit India Movement, I'm extremely excited to see Chief Ministers making clarion call to citizens in their respective States for fitness. Here is the message of the CM of Tripura Biplab Deb Kumar ji." Union Defence Minister Rajnath Singh also expressed his happiness over fitness movement launch. He tweeted, "I am also happy to know that the Prime Minister Shri @narendramodi himself is going to launch the #FitIndiaMovement today to mark the National Sports Day. I appeal to everyone to join this fitness movement and make a 'Fitter & Better India'." During his latest 'Mann Ki Baat' radio address, Modi had asked people to take part in the 'Fit India Movement'. "During today's Mann Ki Baat, I have made some requests to my fellow Indians: Visit iconic places relating to Bapu as a part of his 150th Jayanti. Travel to places related to nature and wildlife. Strengthen Poshan Abhiyan. Be a part of Fit India movement," he had said. This is not the first time that the Modi government has launched a fitness campaign. It was Prime Minister who, through the United Nations as a forum, urged the world to observe International Yoga Day on June 21 every year. The government last year had come up with #HumFitTohIndiaFit campaign in which people from all walks of life participated by sharing their exercise regimes.

Prime Minister Narendra Modi launches 'Fit India Movement' on National Sports Day

Union Youth Affairs and Sports Minister Kiren Rijiju on Thursday expressed happiness over the launch of Fit India Movement on the 114th birth anniversary of Major Dhyan Chand, a legendary hockey player of India.

While addressing a gathering at Indira Gandhi International Stadium in New Delhi, Rijiju said, "I am happy that we are launching Fit India Movement on the birth anniversary of Major Dyan Chand. We will make efforts to take this programme to new heights. Every Indian should be mentally and physically fit in order to take the country forward."

"This is the first time a fitness movement is being launched with the participation of all the people, I want to thank all the people for this," he said in his concluding remark.

The Union Youth Affairs and Sports Minister also informed that President Ram Nath Kovind will confer the National Sports Awards, National Adventure Awards, Arjuna Award, Khel Ratna, Dronacharya Award and Dhyan Chand Award in the evening today to celebrate the exceptional achievements of Indian athlete.

Notably, each year, National Sports Day is observed on the birth anniversary of Major Dyan Chand. Across the country, several fitness programmes are conducted to spread awareness about the importance of sports and games in the lives of every individual.

Union Youth Affairs and Sports Minister Kiren Rijiju on Thursday expressed happiness over the launch of Fit India Movement on the 114th birth anniversary of Major Dhyan Chand, a legendary hockey player of India.

Union Youth Affairs and Sports Minister Kiren Rijiju on Thursday expressed happiness over the launch of Fit India Movement on the 114th birth anniversary of Major Dhyan Chand, a legendary hockey player of India. While addressing a gathering at Indira Gandhi International Stadium in New Delhi, Rijiju said, "I am happy that we are launching Fit India Movement on the birth anniversary of Major Dyan Chand. We will make efforts to take this programme to new heights. Every Indian should be mentally and physically fit in order to take the country forward." "This is the first time a fitness movement is being launched with the participation of all the people, I want to thank all the people for this," he said in his concluding remark. The Union Youth Affairs and Sports Minister also informed that President Ram Nath Kovind will confer the National Sports Awards, National Adventure Awards, Arjuna Award, Khel Ratna, Dronacharya Award and Dhyan Chand Award in the evening today to celebrate the exceptional achievements of Indian athlete. Notably, each year, National Sports Day is observed on the birth anniversary of Major Dyan Chand. Across the country, several fitness programmes are conducted to spread awareness about the importance of sports and games in the lives of every individual.

Sports minister Rijiju expresses happiness over Fit India Movement's launch on Dhyan Chand's birth anniversary

The Indonesian government is not abandoning Jakarta after announcing plans to move the country's capital, its planning minister said, pledging to spend $40 billion to save the slowly sinking city in the next decade.

The current Indonesian capital will undergo a $40.18 billion urban regeneration in the next 10 years, more than the $33 billion expected cost to build a new capital city on Borneo island, Bambang Brodjonegoro told Reuters in an interview.

"Jakarta is the centre of everything in Indonesia. What we are moving out of is the centre of administration, but finance (centres), businesses and trades will stay," Brodjonegoro said.

Jakarta is one of the world's most densely populated cities, home to more than 10 million people and three times that number when counting those who live in surrounding towns.

Brodjonegoro said the relocation decision was taken because the government knew the population concentration in Jakarta has to be reduced.

The government expects to begin moving to the new capital city in the East Kalimantan province in 2024.

"People assume Jakarta is doing fine. Jakarta is not doing fine at all. The water condition is a cause for concern, wastewater, air pollution," he added.

Only 60% of the city has pipe water infrastructure, forcing millions of people and businesses to dig wells to use up groundwater, hurting the environment, Brodjonegoro said.

The over-extraction makes Jakarta prone to floods and sinking due to subsidence. Rising sea levels aggravated the sinking with some part of the city dropping as much as 11 inches a year, making Jakarta the fastest sinking city of its size globally.

Part of the new project submitted by the city government is to extend water pipes to cover all of Jakarta so that people don't rely on groundwater, Brodjonegoro said.

The government will also build a new sewage system, he said.

The biggest chunk of the spending would be for mass transportation, such as lengthening the newly built track for its mass rapid transit (MRT) system, a new loopline railway, more commuter lines, bus-only lanes and flyovers, Brodjonegoro said.

Jakarta suffers from some of the world's worst traffic jams. The congestion, the current dry season, industrial pollution and the city's reliance on coal power plants had put Jakarta among the world's most polluted cities as well.

Heri Andreas, a geodesist who does research on subsidence for the Bandung Institute of Technology, said Jakarta may be saved if people stop sucking groundwater, even though he noted any construction could weigh on the city.

"If 100% of Jakartans stop using groundwater, we can build infrastructure massively and the ground will not subside," he told Reuters by telephone.

However, at the current-sinking rate, 95% of Jakarta will be underwater by 2050, Andreas warned.

The Indonesian government is not abandoning Jakarta after announcing plans to move the country's capital, its planning minister said, pledging to spend $40 billion to save the slowly sinking city in the next decade.

The Indonesian government is not abandoning Jakarta after announcing plans to move the country's capital, its planning minister said, pledging to spend $40 billion to save the slowly sinking city in the next decade. The current Indonesian capital will undergo a $40.18 billion urban regeneration in the next 10 years, more than the $33 billion expected cost to build a new capital city on Borneo island, Bambang Brodjonegoro told Reuters in an interview. "Jakarta is the centre of everything in Indonesia. What we are moving out of is the centre of administration, but finance (centres), businesses and trades will stay," Brodjonegoro said. Jakarta is one of the world's most densely populated cities, home to more than 10 million people and three times that number when counting those who live in surrounding towns. Brodjonegoro said the relocation decision was taken because the government knew the population concentration in Jakarta has to be reduced. The government expects to begin moving to the new capital city in the East Kalimantan province in 2024. "People assume Jakarta is doing fine. Jakarta is not doing fine at all. The water condition is a cause for concern, wastewater, air pollution," he added. Only 60% of the city has pipe water infrastructure, forcing millions of people and businesses to dig wells to use up groundwater, hurting the environment, Brodjonegoro said. The over-extraction makes Jakarta prone to floods and sinking due to subsidence. Rising sea levels aggravated the sinking with some part of the city dropping as much as 11 inches a year, making Jakarta the fastest sinking city of its size globally. Part of the new project submitted by the city government is to extend water pipes to cover all of Jakarta so that people don't rely on groundwater, Brodjonegoro said. The government will also build a new sewage system, he said. The biggest chunk of the spending would be for mass transportation, such as lengthening the newly built track for its mass rapid transit (MRT) system, a new loopline railway, more commuter lines, bus-only lanes and flyovers, Brodjonegoro said. Jakarta suffers from some of the world's worst traffic jams. The congestion, the current dry season, industrial pollution and the city's reliance on coal power plants had put Jakarta among the world's most polluted cities as well. Heri Andreas, a geodesist who does research on subsidence for the Bandung Institute of Technology, said Jakarta may be saved if people stop sucking groundwater, even though he noted any construction could weigh on the city. "If 100% of Jakartans stop using groundwater, we can build infrastructure massively and the ground will not subside," he told Reuters by telephone. However, at the current-sinking rate, 95% of Jakarta will be underwater by 2050, Andreas warned.

Indonesia pledges $40 billion to modernise Jakarta ahead of new capital

The US is ready and willing to help <a href="https://www.wionews.com/india-news/brazil-announces-south-american-meeting-on-amazon-accepts-chiles-help-246265">Brazil fight forest fires in the Amazon</a>, an aide to President Donald Trump said Wednesday, but only if it involves working with the Brazilian government.

On Monday the countries of the G7 -- Britain, Canada, France, Germany, Italy, Japan and the United States -- pledged $20 million&nbsp;to tackle blazes engulfing parts of the world's largest rainforest that is crucial for maintaining a stable global climate.&nbsp;

"The US stands ready to assist Brazil in efforts to combat fires in the Amazon," National Security Council spokesman Garrett Marquis tweeted late Wednesday.&nbsp;

But the Trump administration prefers a plan that includes discussion with Brazil's government, he said.&nbsp;

"We didn't agree to a G7 initiative that failed to include consultations w/ @jairbolsonaro. The most constructive way to assist w/ Brazil's ongoing efforts is in coordination w/ the Brazilian Gov."

Bolsonaro has repeatedly clashed with European leaders, especially France's President Emmanuel Macron, over Brazil's handling of the Amazon crisis.

Bolsonaro at first rejected the G7's offer, saying on Tuesday that he would be willing to accept the aid only if Macron withdrew his "insults," before changing his mind to say Brazil would accept foreign aid on the condition that it controlled the money.

Amazon Rainforest: Fires continue to burn unabated

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But later on Wednesday, the South American leader fired a fresh salvo, accusing France and Germany of "buying" Brazil's national sovereignty and throwing into doubt whether his country was still open to accepting the aid funds.

Trump, who met with Bolsonaro at the White House in March, tweeted his "full and complete support" for the Brazilian president Tuesday and praised him for his "very hard" work on the Amazon crisis.&nbsp;

Macron has accused Bolsonaro of lying to him about his commitments on climate change and vowed to block the EU-Mercosur trade deal involving Brazil that took decades to negotiate.

Although about 60 per cent of the Amazon is located in Brazil, the vast forest also spreads over parts of either other countries or territories in South America.&nbsp;

The US is ready and willing to help Brazil fight forest fires in the Amazon, an aide to President Donald Trump said Wednesday, but only if it involves working with the Brazilian government.

The US is ready and willing to help Brazil fight forest fires in the Amazon, an aide to President Donald Trump said Wednesday, but only if it involves working with the Brazilian government. On Monday the countries of the G7 -- Britain, Canada, France, Germany, Italy, Japan and the United States -- pledged $20 million to tackle blazes engulfing parts of the world's largest rainforest that is crucial for maintaining a stable global climate. "The US stands ready to assist Brazil in efforts to combat fires in the Amazon," National Security Council spokesman Garrett Marquis tweeted late Wednesday. But the Trump administration prefers a plan that includes discussion with Brazil's government, he said. "We didn't agree to a G7 initiative that failed to include consultations w/ @jairbolsonaro. The most constructive way to assist w/ Brazil's ongoing efforts is in coordination w/ the Brazilian Gov." Bolsonaro has repeatedly clashed with European leaders, especially France's President Emmanuel Macron, over Brazil's handling of the Amazon crisis. Bolsonaro at first rejected the G7's offer, saying on Tuesday that he would be willing to accept the aid only if Macron withdrew his "insults," before changing his mind to say Brazil would accept foreign aid on the condition that it controlled the money. Amazon Rainforest: Fires continue to burn unabated But later on Wednesday, the South American leader fired a fresh salvo, accusing France and Germany of "buying" Brazil's national sovereignty and throwing into doubt whether his country was still open to accepting the aid funds. Trump, who met with Bolsonaro at the White House in March, tweeted his "full and complete support" for the Brazilian president Tuesday and praised him for his "very hard" work on the Amazon crisis. Macron has accused Bolsonaro of lying to him about his commitments on climate change and vowed to block the EU-Mercosur trade deal involving Brazil that took decades to negotiate. Although about 60 per cent of the Amazon is located in Brazil, the vast forest also spreads over parts of either other countries or territories in South America.

US ready to fight Amazon fires only in cooperation with Brazil

Serena Williams survived a second-round scare at the US Open on Wednesday with a 5-7 6-3 6-1 win over American wildcard Catherine McNally to keep alive her hopes of securing a record-tying 24th Grand Slam title.

World number eight Williams, who captured the first of her six US Open titles two years before her 17-year-old opponent was born, spent the first half of the match trying to find her rhythm but when she did she was off to the races.

"She really came out and played really well, she showed no fear," a relieved Williams said in her on-court interview. "She had absolutely nothing to lose and she played like it."

McNally, competing in only her sixth tour-level event of her career and against the highest-ranked player she has ever faced, used an old-school serve-and-volley approach along with a lethal slice backhand to unsettle Williams.

So effective was McNally, who has tried to model parts of her game after Swiss great Roger Federer, that at one point in the match Williams screamed at her racquet "why are you missing?".

But Williams, whose earliest US Open exit came in her 1997 debut when she lost in the third round, turned the match around when she finally broke McNally's serve and then consolidated in a tight service game for a 5-2 lead in the second set.

Williams looked more like herself in the decider - both serving and returning better - as she went up a double break for a quick 3-0 lead before storming home and sealing the match when she broke to love.

"I survived tonight," said Williams. "I am not too pleased with the way I played at all," said Williams, whose 28 unforced errors were two fewer than McNally.

"But it's OK, I'm alive, I'm still here and happy to be on this court. I'll do better. I promise."

The match proved a far more gruelling affair for Williams than she had in her opener, where she dismantled Maria Sharapova with one of her most dominant performances since returning from maternity leave in 2018.

Up next for Williams will be either Taiwan's Hsieh Su-wei or Czech Karolina Muchova, who were unable to get their match in earlier due to rainy conditions.

Serena Williams survived a second-round scare at the US Open on Wednesday with a 5-7 6-3 6-1 win over American wildcard Catherine McNally to keep alive her hopes of securing a record-tying 24th Grand Slam title.

Serena Williams survived a second-round scare at the US Open on Wednesday with a 5-7 6-3 6-1 win over American wildcard Catherine McNally to keep alive her hopes of securing a record-tying 24th Grand Slam title. World number eight Williams, who captured the first of her six US Open titles two years before her 17-year-old opponent was born, spent the first half of the match trying to find her rhythm but when she did she was off to the races. "She really came out and played really well, she showed no fear," a relieved Williams said in her on-court interview. "She had absolutely nothing to lose and she played like it." McNally, competing in only her sixth tour-level event of her career and against the highest-ranked player she has ever faced, used an old-school serve-and-volley approach along with a lethal slice backhand to unsettle Williams. So effective was McNally, who has tried to model parts of her game after Swiss great Roger Federer, that at one point in the match Williams screamed at her racquet "why are you missing?". But Williams, whose earliest US Open exit came in her 1997 debut when she lost in the third round, turned the match around when she finally broke McNally's serve and then consolidated in a tight service game for a 5-2 lead in the second set. Williams looked more like herself in the decider - both serving and returning better - as she went up a double break for a quick 3-0 lead before storming home and sealing the match when she broke to love. "I survived tonight," said Williams. "I am not too pleased with the way I played at all," said Williams, whose 28 unforced errors were two fewer than McNally. "But it's OK, I'm alive, I'm still here and happy to be on this court. I'll do better. I promise." The match proved a far more gruelling affair for Williams than she had in her opener, where she dismantled Maria Sharapova with one of her most dominant performances since returning from maternity leave in 2018. Up next for Williams will be either Taiwan's Hsieh Su-wei or Czech Karolina Muchova, who were unable to get their match in earlier due to rainy conditions.

US Open 2019: Serena Williams survives scare to reach third round

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%.

On Wall Street, the S&amp;P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But US stock futures lost 0.4% in Asia.

Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday.

Inversion remains a prominent feature across the US yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions.

Italy's 10-year bond yield briefly fell below 1% for the first time ever. The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted.

In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016.

"Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on US-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo.

"Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said.

The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further.

The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of September 1 and December 15.

That means products such as smartwatches, Bluetooth headphones, flat-panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy.

The precious metal markets highlighted investors' quest to buy safer assets.

Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak.

Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far.

The 30-year US bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of US shares, which stood at 2.04%.

"Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo.

In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data.

The euro was steady at $1.1084.

The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown.

The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit.

The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election.

"From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London.

Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war.

Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in US crude stockpiles helped ease worries about weakening oil demand.

In Asia Brent crude futures fell 0.1% to $60.43 a barrel while US West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%. On Wall Street, the S&P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But US stock futures lost 0.4% in Asia. Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday. Inversion remains a prominent feature across the US yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions. Italy's 10-year bond yield briefly fell below 1% for the first time ever. The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted. In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016. "Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on US-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo. "Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said. The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further. The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of September 1 and December 15. That means products such as smartwatches, Bluetooth headphones, flat-panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy. The precious metal markets highlighted investors' quest to buy safer assets. Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak. Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far. The 30-year US bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of US shares, which stood at 2.04%. "Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo. In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data. The euro was steady at $1.1084. The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown. The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit. The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election. "From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London. Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war. Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in US crude stockpiles helped ease worries about weakening oil demand. In Asia Brent crude futures fell 0.1% to $60.43 a barrel while US West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Bonds reign supreme, equities struggle on recession, Brexit fears

Oil prices fell on Thursday for the first time in three days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of US economy.

Brent crude was down 30 cents, or 0.5%, at $60.19 a barrel by 0202 GMT while US crude was down 15 cents, or 0.3%, at $55.63 a barrel. Oil prices rose around 1.5 per cent in the previous session.

Concerns about a slowdown in economic growth due to the trade war raging between the United States and China, along with the potential hit to oil demand, are keeping prices in check.

Daly said on Thursday she believes the US economy has "strong" momentum, but uncertainty and a global growth slowdown are having an impact.

Daly was speaking to reporters after a speech in Wellington, New Zealand and said she was in "watch and see" mode in assessing the need for another US interest-rate cut.

US President Donald Trump said on Monday he believed China was sincere about wanting to reach a trade deal, but concerns arose on Tuesday after China's foreign ministry declined to confirm a telephone call between the two countries on trade.

"Trade tensions (are) hanging like a dark cloud threatening to rain over oil prices," said Jeffrey Halley, senior market analyst at OANDA.

The market shrugged of a big drop in US inventories, which fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, the Energy Information Administration said.

US gasoline stocks fell by 2.1 million barrels, compared with analysts' expectations in a Reuters poll for a 388,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2.1 million barrels, versus expectations for a 918,000-barrel increase, the EIA data showed.

The crude drawdown confirms "that OPEC supply cuts are effectively working by depleting US reserves," said Stephen Innes, managing partner at Valour Markets.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers have been restraining supply for most of the period since January 1, 2017. The alliance, known as "OPEC+", in July renewed the pact until March 2020.

US weekly crude production also rose 200,000 barrels per day to a new record at 12.5 million bpd in the week to August 23.

Oil prices fell on Thursday for the first time in three days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of US economy.

Oil prices fell on Thursday for the first time in three days after San Francisco Federal Reserve President Mary Daly sounded a note of concern about the strength of US economy. Brent crude was down 30 cents, or 0.5%, at $60.19 a barrel by 0202 GMT while US crude was down 15 cents, or 0.3%, at $55.63 a barrel. Oil prices rose around 1.5 per cent in the previous session. Concerns about a slowdown in economic growth due to the trade war raging between the United States and China, along with the potential hit to oil demand, are keeping prices in check. Daly said on Thursday she believes the US economy has "strong" momentum, but uncertainty and a global growth slowdown are having an impact. Daly was speaking to reporters after a speech in Wellington, New Zealand and said she was in "watch and see" mode in assessing the need for another US interest-rate cut. US President Donald Trump said on Monday he believed China was sincere about wanting to reach a trade deal, but concerns arose on Tuesday after China's foreign ministry declined to confirm a telephone call between the two countries on trade. "Trade tensions (are) hanging like a dark cloud threatening to rain over oil prices," said Jeffrey Halley, senior market analyst at OANDA. The market shrugged of a big drop in US inventories, which fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, the Energy Information Administration said. US gasoline stocks fell by 2.1 million barrels, compared with analysts' expectations in a Reuters poll for a 388,000-barrel drop. Distillate stockpiles, which include diesel and heating oil, fell by 2.1 million barrels, versus expectations for a 918,000-barrel increase, the EIA data showed. The crude drawdown confirms "that OPEC supply cuts are effectively working by depleting US reserves," said Stephen Innes, managing partner at Valour Markets. The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers have been restraining supply for most of the period since January 1, 2017. The alliance, known as "OPEC+", in July renewed the pact until March 2020. US weekly crude production also rose 200,000 barrels per day to a new record at 12.5 million bpd in the week to August 23.

Oil prices pegged back by mounting concern over US economy

Indian shares slipped on Thursday, led by declines in financials and metals, as fears of an impending global recession and worsening Sino-US trade relations marred investor sentiment.

The broader NSE Nifty fell 0.46% to 10,994.55 as of 0354 GMT, while the benchmark BSE Sensex inched down 0.44% to 37,293.80.

Meanwhile, stocks in regional markets across Asia struggled to recover with MSCI's broadest index of Asia-Pacific shares outside Japan trading flat.

Domestic investors also remained cautious ahead of GDP data for the April-June quarter due on Friday.

"Sentiment is a fair worry, consumer and business sentiment has to change," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai.

"The outcome of the trade war is also uncertain."

The weather office on Wednesday said monsoon rains in India were below average for the first time in five weeks in the week through Wednesday, further dampening spirits.

Monsoon rains are key to farm output and economic growth as the agricultural sector accounts for about 15% of India's $2.5 trillion economy.

Indian markets are likely to see some volatility ahead of August derivative contracts' expiry.

Shares of Indiabulls Housing Finance Ltd slipped as much as 7.97%, the stock will not be included on the Nifty 50 NSE Nifty from September 27.

The Nifty metals index inched 0.82% lower, with all 14 constituents trading in the red.

Only 10 of the 50 stocks on the NSE blue-chip index were trading in postive territory.

Meanwhile, sugar producers like EID-Parry (India) Ltd gained as much as 2.45% and Rana Sugars Ltd surged 6.98% after India's cabinet approved incentives of 62.68 billion rupees to help cash-strapped mills to export 6 million tonnes of sugar in the 2019/20 marketing year starting from October 1.

Shares of Sun Pharmaceutical Industries Ltd was the top gainer on the NSE index, rising as much as 4.49%. Media reports https://www.business-standard.com/article/markets/sebi-inquiry-clears-sun-pharma-finds-no-merit-in-allegations-of-fraud-119082801436_1.html on Thursday said an enquiry by the Securities and Exchange Board of India (SEBI) had found no merit in allegation of violation of securities laws by the firm.

On Wednesday late evening, India's federal cabinet approved further liberalizing of foreign direct investment (FDI) rules in digital media, coal mining, associated infrastructure and sales of fuels in an attempt to get economic growth back on track.

Indian shares slipped on Thursday, led by declines in financials and metals, as fears of an impending global recession and worsening Sino-US trade relations marred investor sentiment.

Indian shares slipped on Thursday, led by declines in financials and metals, as fears of an impending global recession and worsening Sino-US trade relations marred investor sentiment. The broader NSE Nifty fell 0.46% to 10,994.55 as of 0354 GMT, while the benchmark BSE Sensex inched down 0.44% to 37,293.80. Meanwhile, stocks in regional markets across Asia struggled to recover with MSCI's broadest index of Asia-Pacific shares outside Japan trading flat. Domestic investors also remained cautious ahead of GDP data for the April-June quarter due on Friday. "Sentiment is a fair worry, consumer and business sentiment has to change," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai. "The outcome of the trade war is also uncertain." The weather office on Wednesday said monsoon rains in India were below average for the first time in five weeks in the week through Wednesday, further dampening spirits. Monsoon rains are key to farm output and economic growth as the agricultural sector accounts for about 15% of India's $2.5 trillion economy. Indian markets are likely to see some volatility ahead of August derivative contracts' expiry. Shares of Indiabulls Housing Finance Ltd slipped as much as 7.97%, the stock will not be included on the Nifty 50 NSE Nifty from September 27. The Nifty metals index inched 0.82% lower, with all 14 constituents trading in the red. Only 10 of the 50 stocks on the NSE blue-chip index were trading in postive territory. Meanwhile, sugar producers like EID-Parry (India) Ltd gained as much as 2.45% and Rana Sugars Ltd surged 6.98% after India's cabinet approved incentives of 62.68 billion rupees to help cash-strapped mills to export 6 million tonnes of sugar in the 2019/20 marketing year starting from October 1. Shares of Sun Pharmaceutical Industries Ltd was the top gainer on the NSE index, rising as much as 4.49%. Media reports https://www.business-standard.com/article/markets/sebi-inquiry-clears-sun-pharma-finds-no-merit-in-allegations-of-fraud-119082801436_1.html on Thursday said an enquiry by the Securities and Exchange Board of India (SEBI) had found no merit in allegation of violation of securities laws by the firm. On Wednesday late evening, India's federal cabinet approved further liberalizing of foreign direct investment (FDI) rules in digital media, coal mining, associated infrastructure and sales of fuels in an attempt to get economic growth back on track.

Sensex and Nifty fall on recession worries; financials, metals drag

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