1. Fitch affirms India’s ratings; expects GDP to grow at 7.7 pc
India’s economic growth rate is expected to accelerate to 7.7 per cent in the current fiscal, Fitch said while affirming India’s sovereign ratings at BBB- with stable outlook.
The global rating agency also raised various concerns, including weak private investment and monetary policy transmission. "The affirmation of India’s sovereign ratings balances a strong medium-term growth outlook and favourable external balances against a weak fiscal position and still-difficult business environment.”
However, the latter is likely to gradually improve with implementation and continued broadening of the governments structural reform agenda," it said in a statement. Fitch said India exhibits one of the highest real GDP growth rates in the sovereign’s space.
Its five-year average growth is among the 10 highest of all rated sovereigns and the 7.6 per cent real GDP growth in the financial year ended March 2016 exceeds the BBB category median of 3.3 per cent.
2. Legendary playback singer Mubarak Begum no more
Famous Playback Singer Mubarak Begum passed away. She was 80.
Mubarak Begum is remembered for singing scores of songs, duets and ghazals for Bollywood, mainly during the 1950s-1970s.
Begum, who sang the evergreen song "Kabhi tanhaiyon mein hamari yaad ayegi" from the 1961 movie "Hamari Yaad Aayegi", has not been keeping well for the last few years.
3. Turnbull sworn in as Australia’s PM
Malcolm Turnbull sworn in as the new Prime Minister of Australia.
4. Aditya Birla firm registered as 6th player in health insurance
Aditya Birla Health Insurance has become the sixth company in India to be registered in the segment, regulator Irda said.
The newest health insurance is promoted as joint venture of Aditya Birla Financial Services Limited (ABFSL) of India and MMI Strategic Investments (Pty) Limited (MMI) of South Africa.
The company has been registered as a health insurer for conducting health insurance business, Insurance Regulatory and Development Authority of India (Irda) said, adding that the Certificate of Registration was issued on July 11.
With this registration, the total number of Health Insurers registered with the Authority has gone up to six.
This is the first health insurance company to be issued Certificate of Registration, after the amendment of the Insurance Act, 1938 which recognised the segment as a separate class of business.
The other health insurers, include Religare Health Insurance and Star Health and Allied Insurance.
5. Indian-origin ex Spore PM bestowed South Asian Diaspora award
Indian-origin former Singapore President S R Nathan has been conferred with the Outstanding Member of the South Asian Diaspora award for his dedicated and notable work in forging closer ties with India.
Nathan, whose 12-year term concluded in 2011, was awarded by the Institute of South Asian Studies (ISAS) at the 3rd South Asian Diaspora Convention (SADC).
He is also a recipient of Pravasi Bharatiya Samman, the highest honour accorded to the Indian-origins oversees by the Indian government in 2012.
Nathan is also credited for initiating SADC together with ISAS and remains one of the strongest voice for collaboration and dialogue with India, Chairman of ISAS and Ambassador-at-Large for the Ministry of Foreign Affairs Gopinath Pillai said.
SADC is a biennial event held in Singapore that attracts high net worth South Asian business, political, policy and academic leaders to exchange ideas on building a more collaborative and prosperous future for South Asia.
6. MP govt signs MoU with CII to attract investors
With an aim to promote Make in Madhya Pradesh as a brand to attract investment, an pact was signed between the state Trade and Investment Facilitation Corporation (MPTRIFAC) and Confederation of Indian Industry (CII).
7. Steve Elworthy appointed MD of ICC World Cup 2019
The International Cricket Council (ICC) and the England and Wales Cricket Board (ECB) jointly announced that Steve Elworthy had been appointed as Managing Director of the ICC Cricket World Cup, which will be held in England and Wales in 2019.
India’s economic growth rate is expected to accelerate to 7.7 per cent in the current fiscal, Fitch said while affirming India’s sovereign ratings at BBB- with stable outlook.
The global rating agency also raised various concerns, including weak private investment and monetary policy transmission. "The affirmation of India’s sovereign ratings balances a strong medium-term growth outlook and favourable external balances against a weak fiscal position and still-difficult business environment.”
However, the latter is likely to gradually improve with implementation and continued broadening of the governments structural reform agenda," it said in a statement. Fitch said India exhibits one of the highest real GDP growth rates in the sovereign’s space.
Its five-year average growth is among the 10 highest of all rated sovereigns and the 7.6 per cent real GDP growth in the financial year ended March 2016 exceeds the BBB category median of 3.3 per cent.
2. Legendary playback singer Mubarak Begum no more
Famous Playback Singer Mubarak Begum passed away. She was 80.
Mubarak Begum is remembered for singing scores of songs, duets and ghazals for Bollywood, mainly during the 1950s-1970s.
Begum, who sang the evergreen song "Kabhi tanhaiyon mein hamari yaad ayegi" from the 1961 movie "Hamari Yaad Aayegi", has not been keeping well for the last few years.
3. Turnbull sworn in as Australia’s PM
Malcolm Turnbull sworn in as the new Prime Minister of Australia.
4. Aditya Birla firm registered as 6th player in health insurance
Aditya Birla Health Insurance has become the sixth company in India to be registered in the segment, regulator Irda said.
The newest health insurance is promoted as joint venture of Aditya Birla Financial Services Limited (ABFSL) of India and MMI Strategic Investments (Pty) Limited (MMI) of South Africa.
The company has been registered as a health insurer for conducting health insurance business, Insurance Regulatory and Development Authority of India (Irda) said, adding that the Certificate of Registration was issued on July 11.
With this registration, the total number of Health Insurers registered with the Authority has gone up to six.
This is the first health insurance company to be issued Certificate of Registration, after the amendment of the Insurance Act, 1938 which recognised the segment as a separate class of business.
The other health insurers, include Religare Health Insurance and Star Health and Allied Insurance.
5. Indian-origin ex Spore PM bestowed South Asian Diaspora award
Indian-origin former Singapore President S R Nathan has been conferred with the Outstanding Member of the South Asian Diaspora award for his dedicated and notable work in forging closer ties with India.
Nathan, whose 12-year term concluded in 2011, was awarded by the Institute of South Asian Studies (ISAS) at the 3rd South Asian Diaspora Convention (SADC).
He is also a recipient of Pravasi Bharatiya Samman, the highest honour accorded to the Indian-origins oversees by the Indian government in 2012.
Nathan is also credited for initiating SADC together with ISAS and remains one of the strongest voice for collaboration and dialogue with India, Chairman of ISAS and Ambassador-at-Large for the Ministry of Foreign Affairs Gopinath Pillai said.
SADC is a biennial event held in Singapore that attracts high net worth South Asian business, political, policy and academic leaders to exchange ideas on building a more collaborative and prosperous future for South Asia.
6. MP govt signs MoU with CII to attract investors
With an aim to promote Make in Madhya Pradesh as a brand to attract investment, an pact was signed between the state Trade and Investment Facilitation Corporation (MPTRIFAC) and Confederation of Indian Industry (CII).
7. Steve Elworthy appointed MD of ICC World Cup 2019
The International Cricket Council (ICC) and the England and Wales Cricket Board (ECB) jointly announced that Steve Elworthy had been appointed as Managing Director of the ICC Cricket World Cup, which will be held in England and Wales in 2019.
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