Cricketer-turned-politician Imran Khan has announced his third marriage to Bushra Maneka, a ‘pir’ or faith healer, in Lahore on Sunday, with his Pakistan Tehreek-e-Insaf (PTI) party releasing pictures of the ‘nikaah’ ceremony. Khan, 65, had been visiting Bushra, also known as Pinki Pir, to seek spiritual guidance after meeting her a couple of years ago, media reports have said. PTI spokesperson Fawad Chaudhary said Khan got married with Maneka in “a simple ceremony” held at the home of the bride’s brother. Khan’s sisters did not attend, media reports said. The PTI denied the report and Khan said he had only proposed marriage to Bushra.

February 19, 2018 03:00 UTC

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February 19, 2018 03:00 UTC

Both technical and derivatives data suggest the markets would continue to be volatile and can slide further towards 10,250 levels. For the day Nifty closed lower by 0.9 per cent at 10,452 levels and on weekly basis closed flat. In Nifty options significant amount of call writing was seen in strike price 10,500 and 10,600 which is likely to cap any upside in near term. This support comes around 10,400 levels suggesting as important level for the market.Breaking below 10,400 levels, index is likely to retest recent low of 10,276 level. Below that next support level for index is seen around 10,100-10,070 where 200 DMA and previous swing lows are seen.

February 19, 2018 02:48 UTC

Except you won’t see them do that.When India’s competition commission recently fined Google for abusing its dominant position, most of the ecosystem kept mum. And made to believe that no Indian startup can be as good as Google.The policy-maker, especially the bureaucracy, is the epitome of the ‘sepoy syndrome’. So basically, Indian founders are not going to get support but only derision when they fight the inherent bias in our ecosystem. But that would have sounded the death knell for the domestic startup ecosystem.Is Paytm vs WhatsApp a mere Aliababa vs Facebook issue? Can we celebrate the success of others in our ecosystem, and empathise with their struggles when they face challenges?

February 19, 2018 02:48 UTC

One disease that ails our health is the public healthcare system. Public healthcare in this country suffers from institutional defects. We ought to be angry with the corrupt and fraudulent medical education system which produces bad and unqualified doctors. For a start, the next generation of doctors must believe in public service and not see the entire public medical system as a physical and economic hazard. By attacking them, people are only sowing the seeds of mistrust and misgivings that will only do more damage to public healthcare in India.

February 19, 2018 02:48 UTC

NEW DELHI: Domestic market is likely to see a positive opening on Monday, tracking Nifty50 futures on the Singapore Stock Exchange (SGX Nifty) and cues from global markets. Nifty futures on the Singapore Stock Exchange were trading 31 points, or 0.30 per cent, higher at 10,494, indicating a positive opening start for the Nifty50 in India. Here is a list of top stocks that are likely to be in focus in today's trading session.The Reserve Bank of India (RBI) said it has not asked Punjab National Bank to pay counterparty banks against the letters of undertaking that the lender issued to jeweller Nirav Modi and others. The bank detected the transactions while reconciling accounts and about half the money has been retrieved, it said. The amount cited above would include bonafide credit to related firms that now risks being classified as bad debt given that the promoters have been accused of fraud.

February 19, 2018 02:44 UTC

These and other tech companies from US and EU are struggling to make an impact in the Chinese market. India though is a more attractive place for the big five tech giants with no State-mandated restrictions and a free market approach to competition. As this tussle plays out, it is important for policymakers and tech companies to remember the immense freedom of operations available in Indian markets. However, the constant attempts by tech companies to create and intensify their monopolistic presence should be met by a fierce response by policymakers and regulators. This is not the first instance of a tech giant trying to undermine the free market of India.

February 19, 2018 02:43 UTC

The Indian markets are likely to stabilise after the recent sharp fall and the Nifty could go as high as 12,338 by the first or second quarter of 2019, said, CEO at. There is some internal strength in the Indian market. We are at very low yields to start with. Throughout the 1940s, 1950s and early 1960s the US economy did very well with much higher yields. Throughout the 1990s, and even in 2004-2007 period, US economy did extremely well with much higher yields.

February 19, 2018 02:42 UTC

MUMBAI: Fake customers, exaggerated inventory, related party transactions and thousands of crores lost in fraud by jewellers. According to PNBs complaint to the CBI , the accused bank officials fraudulently issued LoUs without making entries into the banks system to avoid detection. Even the SWIFT messaging system was compromised by making changes manually. The banks including PMB had given credit to Winsome Diamonds and to two of its associate entities Forever Diamonds and Suraj Diamonds. In both the cases the consortium of banks had issued letter of credits to the company.In the case of Shree Ganesh Jewellers too, according to the forensic report, money were diverted to Hong Kong, Singapore and Dubai.

February 19, 2018 02:38 UTC

On 5 February, PNB informed India’s stock exchanges of a Rs280 crore fraud. A bank keeps a Nostro account in foreign currency in another bank overseas for use of foreign exchange and trade transactions. ## Indian banks overseas offered buyer’s credit by remitting funds through inter-bank transfer in the Nostro account of PNB. ## Modi continued to pay PNB till January 2018 and the lenders had received these funds from PNB. What was the basis of such repayments for PNB if buyer’s credit did not exist in their CBS?

February 19, 2018 02:37 UTC

NEW DELHI: Amazon has rolled out its own food retailing business in India with a pilot in Pune, becoming the first foreign ecommerce firm to stock and sell food items directly to consumers.“Amazon is now a vendor on and is currently operating in Pune,” said a person familiar with the development. The products are sold by Amazon Retail India Pvt. Ltd.Another person said it will take “at least a quarter” for the ecommerce major to roll out its food retailing business nationwide.Amazon had last year secured the government’s permission to invest $500 million in a wholly-owned venture to retail locally produced and packaged food products through offline and online channels. It is the only global entity to have applied for the food-only retailing business, an area where the government allowed 100% overseas investment in 2016 to help producers and generate employment.“We continue to be on track to launch our food retail business in India,” an Amazon India spokesperson said without giving details. Foreign-funded BigBasket, Grofers and Supr Daily have also received similar approval for food retailing.

February 19, 2018 02:26 UTC

Asian markets open higher on Monday. Photo: BloombergAsian stocks steady in morning tradeAsian stocks edged up on Monday morning tracking the recovery in the US stocks over the weekend. Dalmia Bharat, UltraTech make similar bids for Binani CementThe race for Binani Cement Ltd is headed for a photo finish with top two contenders—Dalmia Bharat Cement Ltd and UltraTech Cement Ltd—submitting nearly identical bids, reports Mint. Singapore’s GIC may buy 40% in Prestige rental unitGIC of Singapore has emerged as the frontrunner to buy stake in the tenanted office space unit of Prestige Estates Projects, reports The Times of India. According to the report, GIC is expected to buy a little over 40% in the rent-yielding office portfolio.

February 19, 2018 02:15 UTC

Barring a few companies, corporate earnings in the December quarter either exceeded analysts’ expectations or were in line with them. The key question is: has the trend of downward revisions in corporate earnings been reversed? Even so, the Nifty EPS estimate is still higher than where it was before the quarterly earnings were announced, a welcome change from the trend of downward earnings revisions. For long, the Street has been ignoring dismal earnings growth and continues to trade at rich valuations. Note that, although Nifty earnings estimates are now higher than they were at the beginning of the year, so are bond yields.

February 19, 2018 02:15 UTC

Under the leadership of Atalji (then Prime Minister Atal Bihari Vajpayee ), a successful experiment of taking all partners along, balancing regional aspirations and awakening a new hope was done. The prime minister also referred to the role of some political parties during the freedom struggle and those formed after the Independence. He hailed Jan Sangh for espousing an ideology and thought with clarity and facing all obstacles and challenges in its path. After Independence, all movements of national interest having a nationalist and patriotic hue were led by Jan Sangh and BJP. We are proud of that.Our party is steeped in nationalism,” PM Modi said.

February 19, 2018 02:14 UTC

All 66 people flying in an Iranian commercial plane were feared dead after it crashed into mountains. Investigators searched 45 properties liked to billionaire Nirav Modi, the central figure in the alleged Rs 11,400-crore fraud at Punjab National Bank. Commercial plane crashes in southern Iran, killing 66 peopleAn Iranian commercial plane crashedin a foggy, mountainous region of southern Iran, killing all 66 people on board, state media reported. The Enforcement Directorate, which fights financial crime, said as many as 200 shell companies linked to Modi that were used for the fraud have been detected. People strongly wish for a BJP government in Tripura,” said party leader Biplab Kumar Deb.

February 19, 2018 01:37 UTC