India's Press Information Bureau (PIB) on Tuesday (Mar 12) issued a fact-check rebuttal of claims made by international media outlet Al Jazeera that had labelled the <a href="https://www.wionews.com/india-news/citizenship-amendment-act-rules-narendra-modi-699019">Citizenship Amendment Act (CAA)</a> "anti-Muslim".&nbsp;

India on Monday (Mar 11) announced the implementation of the Citizenship (Amendment) Rules, 2024, which aims at granting citizenship to undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan.&nbsp;

In a post on X on the same, Al Jazeera wrote: "India implements 'anti-Muslim' 2019 citizenship law weeks before election."&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/what-is-caa-how-it-fastracks-citizenship-of-religious-minorities-from-parts-of-south-asia-699036">What is CAA? How it fast tracks citizenship of religious minorities from parts of South Asia</a>&nbsp;

The social media post linked to an article from the Qatar-based media group, headlined, "India implements 'anti-Muslim' 2019 citizenship law weeks before election".&nbsp;

PIB posted a screenshot of the Al Jazeera report, marking it as "MISLEADING".&nbsp;

The government agency wrote, "Misinformation is being spread by @AJEnglish regarding the Citizenship Amendment Act, calling the act 'anti-Muslim'".&nbsp;

It added that "CAA will not take away citizenship of any Indian citizen irrespective of religion. It's not against any single religion/ community."&nbsp;

"It's an enabling law only to provide citizenship to persecuted minorities from neighboring countries - Afghanistan, Pakistan &amp; Bangladesh," it added.&nbsp;

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Misinformation is being spread by <a href="https://twitter.com/AJEnglish?ref_src=twsrc%5Etfw">@AJEnglish</a> regarding the Citizenship Amendment Act, calling the act 'anti-Muslim'<a href="https://twitter.com/hashtag/PIBFactCheck?src=hash&amp;ref_src=twsrc%5Etfw">#PIBFactCheck</a> 
 
▶️This claim is misleading! 
 
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Earlier, India's Ministry of Home Affairs had emphasised that the Act "does not prevent any Muslim, who is persecuted in those Islamic countries (Pakistan, Bangladesh and Afghanistan) for practising their version of Islam, from applying for Indian citizenship under the existing laws".&nbsp;

"CAA does not cancel the naturalisation laws. Therefore, any person, including Muslim migrants from any foreign country, seeking to be an Indian citizen, can apply for the same under the existing laws," the ministry added.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/bjp-says-pm-modi-lived-up-to-his-promise-by-notifying-caa-rules-699073">BJP says PM Modi lived up to his promise by notifying CAA rules</a>&nbsp;

Watch this report:&nbsp;

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Such false claims and misleading headlines were carried by several international news sites.&nbsp;

For example, BBC's headline reads, "CAA: India to enforce migrant law that excludes Muslims".&nbsp;

The headline of The Guardian report reads, "India enacts citizenship law criticised as ‘discriminatory’ to Muslims".&nbsp;

The headline of the CNN report is "India moves to implement controversial citizenship bill that excludes Muslims".&nbsp;

<h2>Citizenship Amendment Act (CAA)&nbsp;</h2>

The Citizenship Amendment Act (CAA) was passed in December 2019, and it got the president's assent.&nbsp;

The law, however, could not come into effect so far as rules have to be notified for its implementation.&nbsp;

Enacted on December 11, 2019, CAA amended the Citizenship Act 1955 by offering a path towards Indian Citizenship for minority religions from Afghanistan, Bangladesh, and Pakistan: Hindus, Sikhs, Buddhists, Jains, Parsis, or Christians who arrived in India before the end of December 2014.&nbsp;

The home ministry said that the "Constitution of India grants us the right to provide religious persecuted refugees with fundamental rights and to grant citizenship from a humanitarian perspective".&nbsp;

The implementation of the Citizenship Amendment Act was delayed due to the coronavirus (COVID-19) pandemic. Earlier this month, the government went ahead with a notification for implementing CAA. 
 
(With inputs from agencies)

India's Press Information Bureau (PIB) on Tuesday (Mar 12) issued a fact-check rebuttal of claims made by international media outlet Al Jazeera that had labelled the Citizenship Amendment Act (CAA) "anti-Muslim".

India's Press Information Bureau (PIB) on Tuesday (Mar 12) issued a fact-check rebuttal of claims made by international media outlet Al Jazeera that had labelled the Citizenship Amendment Act (CAA) "anti-Muslim". India on Monday (Mar 11) announced the implementation of the Citizenship (Amendment) Rules, 2024, which aims at granting citizenship to undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan. In a post on X on the same, Al Jazeera wrote: "India implements 'anti-Muslim' 2019 citizenship law weeks before election." Also read: What is CAA? How it fast tracks citizenship of religious minorities from parts of South Asia The social media post linked to an article from the Qatar-based media group, headlined, "India implements 'anti-Muslim' 2019 citizenship law weeks before election". PIB posted a screenshot of the Al Jazeera report, marking it as "MISLEADING". The government agency wrote, "Misinformation is being spread by @AJEnglish regarding the Citizenship Amendment Act, calling the act 'anti-Muslim'". It added that "CAA will not take away citizenship of any Indian citizen irrespective of religion. It's not against any single religion/ community." "It's an enabling law only to provide citizenship to persecuted minorities from neighboring countries - Afghanistan, Pakistan & Bangladesh," it added. Misinformation is being spread by @AJEnglish regarding the Citizenship Amendment Act, calling the act 'anti-Muslim'#PIBFactCheck ▶️This claim is misleading! 1/2 pic.twitter.com/EkaV2sEr5X — PIB Fact Check (@PIBFactCheck) March 12, 2024 × Earlier, India's Ministry of Home Affairs had emphasised that the Act "does not prevent any Muslim, who is persecuted in those Islamic countries (Pakistan, Bangladesh and Afghanistan) for practising their version of Islam, from applying for Indian citizenship under the existing laws". "CAA does not cancel the naturalisation laws. Therefore, any person, including Muslim migrants from any foreign country, seeking to be an Indian citizen, can apply for the same under the existing laws," the ministry added. Also read: BJP says PM Modi lived up to his promise by notifying CAA rules Watch this report: × Such false claims and misleading headlines were carried by several international news sites. For example, BBC's headline reads, "CAA: India to enforce migrant law that excludes Muslims". The headline of The Guardian report reads, "India enacts citizenship law criticised as ‘discriminatory’ to Muslims". The headline of the CNN report is "India moves to implement controversial citizenship bill that excludes Muslims". Citizenship Amendment Act (CAA) The Citizenship Amendment Act (CAA) was passed in December 2019, and it got the president's assent. The law, however, could not come into effect so far as rules have to be notified for its implementation. Enacted on December 11, 2019, CAA amended the Citizenship Act 1955 by offering a path towards Indian Citizenship for minority religions from Afghanistan, Bangladesh, and Pakistan: Hindus, Sikhs, Buddhists, Jains, Parsis, or Christians who arrived in India before the end of December 2014. The home ministry said that the "Constitution of India grants us the right to provide religious persecuted refugees with fundamental rights and to grant citizenship from a humanitarian perspective". The implementation of the Citizenship Amendment Act was delayed due to the coronavirus (COVID-19) pandemic. Earlier this month, the government went ahead with a notification for implementing CAA. (With inputs from agencies)

India fact-checks international media report on CAA, labels it ‘misleading’

Moving on the Indian government has dismissed a Harvard University study which claims that at least 6.7 million children in India are without food. The report was first rejected by the Prime Minister's Economic Advisory Council and now the Union Ministry of Women and Child Development says the report is a deliberate and malicious attempt to sensationalize fake news.

Indian govt claims Harvard study ignores importance of breast milk, 'Harvard didn't use public data'

The United States is trying to help India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden's energy envoy said on Tuesday.

Is the US trying to help India get lower prices for Russian oil?

Haryana's Chief Minister&nbsp;Nayab Singh Saini&nbsp;won floor test in the state assembly's held on Wednesday (Mar&nbsp;13), a day after taking oath and assuming office as the CM. Saini garnered support from 48 MLAs, securing his government's position, as reported by ANI.

Saini's government presented a vote of confidence in the Assembly to demonstrate its majority. With favourable numbers on its side, the Saini government clinched a comfortable victory in the confidence vote, just a few weeks ahead of the Lok Sabha Elections.

"I come from a humble family background, no one is in politics in my family. I am just a party worker of the BJP and today I have been given such a big opportunity. I must say that this can be only possible in a party like the BJP," Saini said.&nbsp;

The 53-year-old Member of Parliament representing Kurukshetra in Haryana's Lok Sabha, officially met with Governor Bandaru Dattatreya on March 12 to stake his claim to form the government in Haryana.

Before this, former Haryana chief minister Manohar Lal Khattar and his cabinet resigned to Governor Bandaru Dattatreya, amidst reports of a BJP-JJP alliance rift on March 12.

Alongside the 41 MLAs from the ruling BJP, the government is supported by six Independent MLAs and Gopal Kanda of the Haryana Lokhit Party (HLP).

<a href="https://www.wionews.com/india-news/mukhtar-ansari-jailed-mafia-don-turned-politician-sentenced-to-life-imprisonment-699695">Also read |&nbsp;Mukhtar Ansari, jailed mafia don-turned-politician, sentenced to life imprisonment</a>

<h2>Khattar announces resignation from assembly</h2>

Former chief minister Manohar Lal Khattar declared his resignation as an MLA from the Karnal constituency. There's a strong possibility that the BJP will nominate him as a candidate for the Lok Sabha election, as per reports.

Also watch |&nbsp;CAA rules notified: Why states may not be able to stop CAA's implementation

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/caa-rules-notified-why-states-may-not-be-able-to-stop-caas-implementation-699709/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

“I announce today that I am resigning from the post of MLA from Karnal Assembly seat. Now from today, our CM Nayab Saini will take over the responsibility of Karnal Assembly,” the two-time former chief minister said.

(With inputs from agencies)

Haryana's Chief Minister Nayab Singh Saini won floor test in the state assembly's held on Wednesday (Mar 13), a day after taking oath and assuming office as the CM.

Haryana's Chief Minister Nayab Singh Saini won floor test in the state assembly's held on Wednesday (Mar 13), a day after taking oath and assuming office as the CM. Saini garnered support from 48 MLAs, securing his government's position, as reported by ANI. Saini's government presented a vote of confidence in the Assembly to demonstrate its majority. With favourable numbers on its side, the Saini government clinched a comfortable victory in the confidence vote, just a few weeks ahead of the Lok Sabha Elections. "I come from a humble family background, no one is in politics in my family. I am just a party worker of the BJP and today I have been given such a big opportunity. I must say that this can be only possible in a party like the BJP," Saini said. The 53-year-old Member of Parliament representing Kurukshetra in Haryana's Lok Sabha, officially met with Governor Bandaru Dattatreya on March 12 to stake his claim to form the government in Haryana. Before this, former Haryana chief minister Manohar Lal Khattar and his cabinet resigned to Governor Bandaru Dattatreya, amidst reports of a BJP-JJP alliance rift on March 12. Alongside the 41 MLAs from the ruling BJP, the government is supported by six Independent MLAs and Gopal Kanda of the Haryana Lokhit Party (HLP). Also read | Mukhtar Ansari, jailed mafia don-turned-politician, sentenced to life imprisonment Khattar announces resignation from assembly Former chief minister Manohar Lal Khattar declared his resignation as an MLA from the Karnal constituency. There's a strong possibility that the BJP will nominate him as a candidate for the Lok Sabha election, as per reports. Also watch | CAA rules notified: Why states may not be able to stop CAA's implementation “I announce today that I am resigning from the post of MLA from Karnal Assembly seat. Now from today, our CM Nayab Saini will take over the responsibility of Karnal Assembly,” the two-time former chief minister said. (With inputs from agencies)

India: CM Nayab Singh Saini-led Haryana govt wins floor test in state assembly

In a significant development, the National Investigation Agency (NIA)&nbsp;is questioning a suspect in the Rameshwaram cafe blast case. No arrest has been made so far.

The explosion in the popular Bengaluru cafe caused injuries to nine people on March 1.&nbsp;According to police sources, this man is suspected to be an associate of the main suspect captured on security camera leaving a bag at the cafe on the day of the explosion.

As per details from NIA sources reported by ANI, the suspect named Shabbir was detained in Bellary district, Karnataka.

“He is still being questioned in the case. It is yet to be ascertained whether he is the same man caught on CCTV camera,” ANI quoted the sources as saying.

This development comes two days after Karnataka Home Minister G Parameshwara hinted at progress in identifying the suspect linked to the March 1 blast at the cafe.&nbsp;

The NIA&nbsp;has offered a reward of ₹1 million ($13K)&nbsp;for any information regarding the perpetrator involved in the explosion.&nbsp;Additionally, the agency has guaranteed the protection of the identities of those providing information.

"NIA announces a cash reward of 10 lakh rupees for information about the bomber in Rameshwaram Cafe blast case of Bengaluru. Informants' identity will be kept confidential," the NIA said in a post on 'X'.

The counter-terrorism agency, which assumed control of the investigation on March 3, has appealed to the public for assistance in identifying the principal suspect believed to have planted an Improvised Explosive Device (IED) at the popular Bengaluru restaurant.

<a href="https://www.wionews.com/india-news/inside-bengalurus-rameshwaram-cafe-blast-man-orders-idli-flees-leaving-bag-with-explosives-watch-695702">Also read |&nbsp;Rameshwaram Cafe blast: Man orders idli, flees leaving bag with explosives at Bengaluru eatery. WATCH</a>

<h2>Cafe reopens&nbsp;amid tight security</h2>

The Rameshwaram Cafe resumed operations on Saturday (Mar 9), following a low-intensity blast.

The founders of the cafe, Divya Raghavendra Rao and Raghavendra Rao, resumed operations, reopening their fast-food eatery famous for its South Indian cuisine staples.

“The attack on the cafe did not dampen our spirits. It only united us and made us fight back harder. The reopening today is our response to the attack. It also sends a message — that Indians will not be deterred by such attacks,” the founder told the Indian Express.

Also watch |&nbsp;&nbsp;Bengaluru's Rameshwaram cafe reopens after 8 days with tight security

<iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/india-bengalurus-rameshwaram-cafe-reopens-after-8-days-with-tight-security-698356/embed" width="560"></iframe>

The cafe incurred damage from the attack, primarily affecting the handwashing area. Some damage was also caused to the roof, cash counter, and the cafe's logo. Security measures have since been enhanced at the establishment.

(With inputs from agencies)

In a significant development, the National Investigation Agency (NIA) is questioning a suspect in the Rameshwaram cafe blast case. No arrest has been made so far.

In a significant development, the National Investigation Agency (NIA) is questioning a suspect in the Rameshwaram cafe blast case. No arrest has been made so far. The explosion in the popular Bengaluru cafe caused injuries to nine people on March 1. According to police sources, this man is suspected to be an associate of the main suspect captured on security camera leaving a bag at the cafe on the day of the explosion. As per details from NIA sources reported by ANI, the suspect named Shabbir was detained in Bellary district, Karnataka. “He is still being questioned in the case. It is yet to be ascertained whether he is the same man caught on CCTV camera,” ANI quoted the sources as saying. This development comes two days after Karnataka Home Minister G Parameshwara hinted at progress in identifying the suspect linked to the March 1 blast at the cafe. The NIA has offered a reward of ₹1 million ($13K) for any information regarding the perpetrator involved in the explosion. Additionally, the agency has guaranteed the protection of the identities of those providing information. "NIA announces a cash reward of 10 lakh rupees for information about the bomber in Rameshwaram Cafe blast case of Bengaluru. Informants' identity will be kept confidential," the NIA said in a post on 'X'. The counter-terrorism agency, which assumed control of the investigation on March 3, has appealed to the public for assistance in identifying the principal suspect believed to have planted an Improvised Explosive Device (IED) at the popular Bengaluru restaurant. Also read | Rameshwaram Cafe blast: Man orders idli, flees leaving bag with explosives at Bengaluru eatery. WATCH Cafe reopens amid tight security The Rameshwaram Cafe resumed operations on Saturday (Mar 9), following a low-intensity blast. The founders of the cafe, Divya Raghavendra Rao and Raghavendra Rao, resumed operations, reopening their fast-food eatery famous for its South Indian cuisine staples. “The attack on the cafe did not dampen our spirits. It only united us and made us fight back harder. The reopening today is our response to the attack. It also sends a message — that Indians will not be deterred by such attacks,” the founder told the Indian Express. Also watch | Bengaluru's Rameshwaram cafe reopens after 8 days with tight security The cafe incurred damage from the attack, primarily affecting the handwashing area. Some damage was also caused to the roof, cash counter, and the cafe's logo. Security measures have since been enhanced at the establishment. (With inputs from agencies)

Bengaluru blast: India's NIA questions suspect in Bengaluru Rameshwaram Cafe blast case

English singer-songwriter Ed Sheeran is in India for his second concert in Mumbai. The singer visited a school in Mumbai and spent time with his young fans, as he played songs for them and sang along with them. The singer-songwriter is set to perform in Mumbai on March 16.

Ed Sheeran visits school in Mumbai, swaps performances with students

Elections are around the corner in India. Indian govt notifies CAA rules ahead of elections. Politics in India has heated up. Some states and central govt are at crossroads over CAA. Watch this video for all details.

CAA rules notified: Why states may not be able to stop CAA's implementation

In one of the biggest pre poll announcement from the Congress Camp, Party Chief Mallikarjun Kharge has indicated that he might not contest the upcoming Lok Sabha Elections. Watch to know more!

India Elections 2024: Congress Chief Mallikarjun Kharge hints not contesting Lok Sabha polls

BJP's newly appointed Haryana chief minister Nayab Singh's floor test currently underway in the State Assembly, 54-year-old Saini was sworn in as the new chief minister of Haryana at a rapidly assembled ceremony in Chandigarh on Tuesday evening and this development came off after former Chief Minister Manohar Lal Khattar resigned along with his cabinet ministers earlier in the day.

Haryana Crisis intensifies as Nayab Singh Saini Faces critical floor test

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector<o:p></o:p>

Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday.

<a href="https://www.wionews.com/business-economy/global-dividend-payouts-soar-to-record-high-of-166-tn-in-2023-led-by-banking-sector-699559">Read more here</a><o:p></o:p>

UK inks trade pact with Texas to drive green industry collaboration<o:p></o:p>

The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies.

<a href="https://www.wionews.com/business-economy/uk-inks-trade-pact-with-texas-to-drive-green-industry-collaboration-699563">Read more here</a><o:p></o:p>

Meta takes legal action against former executive for alleged document theft<o:p></o:p>

Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup.

<a href="https://www.wionews.com/business-economy/meta-takes-legal-action-against-former-executive-for-alleged-document-theft-699566">Read more here</a><o:p></o:p>

India's inflation holds steady in February at 5.09 pc, core inflation declines<o:p></o:p>

India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent.

<a href="https://www.wionews.com/business-economy/indias-inflation-holds-steady-in-february-at-509-pc-core-inflation-declines-699589">Read more here</a><o:p></o:p>

China's Country Garden defaults on yuan bond coupon payment for first time <o:p></o:p>

Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company.

<a href="https://www.wionews.com/business-economy/chinas-country-garden-defaults-on-yuan-bond-coupon-payment-for-first-time-699623">Read more here</a><o:p></o:p>

NCLAT upholds Jet Airways' transfer to Jalan Kalrock Consortium, revival in sight<o:p></o:p>

Jet Airways sees a glimmer of hope as the National Company Law Appellate Tribunal (NCLAT) directs the transfer of the bankrupt airline's ownership to the Jalan Kalrock Consortium (JKC) within 90 days.

<a href="https://www.wionews.com/business-economy/nclat-upholds-jet-airways-transfer-to-jalan-kalrock-consortium-revival-in-sight-699642">Read more here</a><o:p></o:p>

PwC Australia implements further job cuts amid restructuring following scandal<o:p></o:p>

PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal.

<a href="https://www.wionews.com/business-economy/pwc-australia-implements-further-job-cuts-amid-restructuring-following-scandal-699640">Read more here</a><o:p></o:p>

UNICEF warns of alarming rise in child poverty in Argentina<o:p></o:p>

UNICEF has issued a stark warning about the dire trajectory of child poverty in Argentina, cautioning that without a change in course, the country's child poverty rate could soar to 70 per cent in the first quarter of this year.

<a href="https://www.wionews.com/business-economy/unicef-warns-of-alarming-rise-in-child-poverty-in-argentina-699645">Read more here</a><o:p></o:p>

ITC shares surge after block trade, while BAT plans to reduce stake<o:p></o:p>

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday.

<a href="https://www.wionews.com/business-economy/itc-shares-surge-after-block-trade-after-bat-announces-plans-to-reduce-stake-699658">Read more here</a><o:p></o:p>

SBI complies with Supreme Court order, submits electoral bonds data to ECI<o:p></o:p>

Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI).

<a href="https://www.wionews.com/business-economy/sbi-complies-with-supreme-court-directive-submits-electoral-bonds-data-to-election-commission-699652">Read more here</a><o:p></o:p>

Global trade disrupted by Red Sea attacks and Panama Canal drought: IMF<o:p></o:p>

Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF.

<a href="https://www.wionews.com/business-economy/global-trade-disrupted-by-red-sea-attacks-and-panama-canal-drought-imf-699672">Read more here</a> <o:p></o:p>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector Corporate dividends worldwide reached an unprecedented high of $1.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday. Read more here UK inks trade pact with Texas to drive green industry collaboration The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies. Read more here Meta takes legal action against former executive for alleged document theft Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup. Read more here India's inflation holds steady in February at 5.09 pc, core inflation declines India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent. Read more here China's Country Garden defaults on yuan bond coupon payment for first time Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company. Read more here NCLAT upholds Jet Airways' transfer to Jalan Kalrock Consortium, revival in sight Jet Airways sees a glimmer of hope as the National Company Law Appellate Tribunal (NCLAT) directs the transfer of the bankrupt airline's ownership to the Jalan Kalrock Consortium (JKC) within 90 days. Read more here PwC Australia implements further job cuts amid restructuring following scandal PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal. Read more here UNICEF warns of alarming rise in child poverty in Argentina UNICEF has issued a stark warning about the dire trajectory of child poverty in Argentina, cautioning that without a change in course, the country's child poverty rate could soar to 70 per cent in the first quarter of this year. Read more here ITC shares surge after block trade, while BAT plans to reduce stake ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. Read more here SBI complies with Supreme Court order, submits electoral bonds data to ECI Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI). Read more here Global trade disrupted by Red Sea attacks and Panama Canal drought: IMF Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF. Read more here

WION Business Wrap | UK’s green industry collaboration, Meta sues former executive and more

Indian government says Harvard Study is an attempt to spread fake news

New Zealand's Deputy Prime Minister has questioned the lack of evidence on a potential Indian link as alleged by Justin Trudeau in the killing of a Canada-based Khalistani terrorist Hardeep Singh Nijjar.

Nijjar Killing | New Zealand deputy PM: Where's the evidence?

English singer-songwriter Ed Sheeran is in India for his second concert in Mumbai. He kicked off his Indian tour by visiting a school in the city.

Ed Sheeran visits school in Mumbai ahead of concert

In Bengaluru where the water crisis in Bengaluru continues to worsen. To cope with the current situation Civil Authorities in the Southern Indian city has prohibited the use of drinking water in swimming pools due to which several pools across the city face the threat of closure.

Bengaluru's water crisis: India's IT hub battles water shortage

Bengaluru's water crisis: Water Tankers taking advantage of the scarcity

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday.

This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake.

The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG.

The&nbsp;uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19.

This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent.

British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent.

In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes.

Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day.

Regardless of &nbsp;this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed.

While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive.

Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday.

Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue.

In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business.

(With inputs from Reuters)

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake. The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG. The uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19. This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent. British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent. In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes. Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day. Regardless of this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed. While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive. Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday. Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue. In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business. (With inputs from Reuters)

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