A $27.6 billion damages claim by magnate Clive Palmer could be avoided by new legislation, the state government hopes.…
In a major fillip to the indigenous aerospace and defence industry, the Ministry of Defence (MoD) on Tuesday approved the acquisition of ‘Make in India’ equipment worth Rs 8,722 crore.
“The Defence Acquisition Council (DAC), in its meeting held [with] Defence Minister Rajnath Singh, accorded approval for capital acquisitions of various platforms and equipment required by the Indian Armed Forces. Proposals for an approximate cost of Rs 8,722.38 crore were approved,” the MoD announced.
The bulk of this will go towards purchasing the first fixed wing aircraft that Hindustan Aeronautics (HAL) has designed and developed in decades: The Hindustan Turbo Trainer – 40 (HTT-40), on which rookie pilots of the Indian Air Force (IAF) and the navy will learn to fly.
“[With] prototypes and certification process underway, the DAC approved procurement of 106 basic trainer aircraft (BTA) from HAL to address the basic training requirements of the IAF. Post certification, 70 BTA will be initially procured from HAL and balance 36 after operationalisation of HTT-40 fleet in IAF,” stated the MoD.
MoD sources say
A panel on Business Responsibility Reporting (BRR) has proposed a new reporting framework for companies to better reflect the intent and scope of reporting on non-financial parameters.
The report was released on Tuesday.
“In its report, the committee recommended a new reporting framework called as ‘Business Responsibility and Sustainability Report (BRSR)’ to better reflect the intent and scope of reporting on non-financial parameters,” an official release said.
Further, the panel has recommended two formats for disclosures.
“The committee also recommended that the BRSR be integrated with the MCA 21 portal. As a long-term measure, the committee envisions that the information captured through BRSR filings be used to develop a Business Responsibility-Sustainability Index for companies,” the release said.
Filings under the Companies Act are submitted to the corporate affairs ministry through the portal.
As per the release, Corporate Affairs Secretary Rajesh Verma appreciated the efforts of the committee in proposing such a robust reporting framework and said the ministry will work closely with Sebi for its implementation.
Hong Kong pro-democracy media mogul Jimmy Lai walked free on bail Wednesday, over a day after he and other critics of China were rounded up by police as part of a widening crackdown on dissent.
When Lai left a police station he was swarmed by dozens of cheering supporters, some of whom waved copies of his Apple Daily in a show of support.
A clampdown has gathered pace in Hong Kong since China imposed a sweeping security law in June, with opposition politicians disqualified and activists arrested for social media posts.
The moves have provoked outrage in the West and fear for millions who last year took to the streets to protest communist China’s tightening grip on the semi-autonomous city.
“It’s now confirmed that Agnes Chow has been arrested for ‘inciting secession’ under the national security law,” her Facebook account said. A police source confirmed to AFP that Chow was among 10 people arrested on Monday in a national security investigation.
AFPTV / Daniel SUEN
In one of the most dramatic days of the crackdown, Lai was among 10 people detained under the new law