Good morning FEI – August 3rd, 2018

03 Aug 2018
Friday, August 3rd, 2018

 

We thank God for another day to make a positive impact on the world.

 

NATIONAL

➢ All 23 Indian Institutes of Technology (IITs) are likely to come together to recruit foreign faculty in order to give a fillip to their global rankings.

➢ The government will complete the task of giving LPG connections free of cost to five crore (50 Million) poor households across 715 districts under the ‘Ujjwala’ programme by Friday.

 

INTERNATIONAL

➢ US Congress has passed a defence spending bill that seeks to amend an existing law to provide waivers to America’s strategic partners like India from punitive sanctions against those doing business with Russia’s defence industry.

➢ The IIRG is preparing to hold a large-scale naval exercise in the Strait of Hormuz, which could block navigation in the strait, where about 20 percent of the global supply of oil transits from the Persian Gulf.

 

BUSINESS

➢ To avoid a tariff war with the US, India plans to put off implementation of retaliatory import duties of $241 million against 29 products.

➢ The government is set to approve a subsidy of around Rs 3,500 crore ($ 500 Million) for promoting electric vehicles over the next five years as part of the FAME 2 plan.

 

LOGISTICS

➢ NMPT (New Mangalore Port Trust) has begun the process of mechanizing two of its berths and it is likely to be ready by January 2019.

 

DID YOU KNOW

➢ The average ice berg weighs 20 Million Tonnes.

 

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