1. China launches longest bullet train
China launched its longest bullet train "Shangri-la of the World" from Kunming, capital of southwest Chinas Yunnan Province to Beijing, expanding its high speed train network to about 20,000 kms connecting almost all provinces.
The train left Kunming at 11:05 am on a 2,760-km trip to Beijing, which takes about 13 hours.
The trains name highlights the world famous resort in Shangri-la of Yunnan, a name first appearing in British novelist James Hiltons "Lost Horizon."
A ticket for a second-class seat on the train from Kunming to Beijing costs 1,147.5 yuan (USD 166).
The line is also the longest east-west high-speed railway in China.
According to the government’s plan, the mileage will increase to 45,000 km by 2030.
The launch of the Shanghai-Kunming line means the country’s high-speed rail grid has taken shape, connecting almost all provinces on the Chinese mainland.
China is also aggressively marketing its bullet train technology in different countries including India effectively competing with Japan.
2. Om Puri, Dies of Heart Attack At 66
Om Puri, one of the most versatile and celebrated actors in India, has died at 66. The Padma Shri-winning actor died of a heart attack at his home in Mumbai.
The veteran actor starred in several award-winning Indian movies and also featured in crossover ventures.
Om Puri rose to fame with films like Ardh Satya, Aakrosh and Paar. His popularity later extended to mainstream cinema, with iconic roles in films like Jaane Bhi DoYaaron and Maachis.
3. India, Kazakhstan agree to amend tax treaty
India and Kazakhstan signed an agreement to amend the two-decade old bilateral tax treaty under which information exchanged between the two can be shared with other law enforcement agencies.
The protocol to amend the existing Double Taxation Avoidance Convention (DTAC) between the two countries provides internationally-accepted standards for effective exchange of information on tax matters, an official statement said.
The initial DTAC between India and Kazakhstan was signed on December 9, 1996, for avoidance of double taxation and prevention of evasion with respect to taxes on income.
The revised tax treaty will provide for a Limitation of Benefits clause to prevent misuse of DTAC. It would help allow application of domestic law and measures against tax avoidance or evasion.
The protocol inserts specific provisions to facilitate easing of economic double taxation in transfer pricing cases.
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