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- In Bhutan, Druk Nyamrup Tshogpa (DNT) has won National Assembly elections.
- According to provisional results, DNT has won 30 seats in 47 member National Assembly, the lower house of the parliament.
- Druk Phuensum Tshogpa (DPT) has got remaining 17 seats.
- The polling for third parliamentary election was held on 18 oct.
- A total 94 candidates, 47 each from DNT and DPT tried their luck in the final round of general elections.
- According to the constitution of Bhutan only two parties, who get highest votes in primary round, can participate in the final round.
- DNT and DPT had got maximum votes in the primary round election held last month, while ruling PDP came third and failed to qualify for the last round.
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- Akash Malik became India's first silver-medallist in archery at the Youth Olympic Games, providing a fitting finale to the country's best-ever campaign at the marquee event in Buenos Aires
- The 15-year-old son of a farmer lost a one-sided final to Trenton Cowles of the USA 0-6 as India concluded with three gold, nine silver, and one bronze at the event that was launched in 2010.
- Seeded fifth after qualification, the Haryana-boy was inconsistent in the summit clash against the 15th seed Cowles, who only shot in 10s and 9s to wrap it up easily on 17oct. night.
- In the three-setter, both the archers shot four perfect 10s, but Akash's two wayward 6s in the first and the third set proved to be the decisive factor.
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- Stock market regulator Sebi has determined the former owners of the India’s second-largest hospital chain defrauded the company of Rs 4 billion ($54.3 million) and ordered that they return it.
- The Securities and Exchange Board of India (Sebi) said on Wednesday it will continue to investigate the alleged fraud at Fortis Healthcare Ltd. to determine the role other parties may have played.
- In the meantime, it has given the founders and former majority owners Malvinder and Shivinder Singh, and their related corporate entities, three months to pay the money back.
- Sebi began investigating the matter in February after a Bloomberg report on the issue, according to the order.
- A spokesperson for the Singh brothers’ main holding company declined to comment on the regulatory order.
- The regulatory action adds to an already long list of liabilities facing the Singh brothers, who once controlled a business empire in India worth billions of dollars that is now largely lost.
- Sebi’s order details the results of its months-long investigation and alleges that the brothers used a complex web of shell companies and financial transactions to hide that they were the ultimate beneficiaries of loans made by Fortis.
- The regulator claims the Rs 4 billion was used to return money their holding company had borrowed from India Bulls Mutual Fund and HDFC Ltd, or routed to their financial-services company, where India’s central bank has found they diverted funds previously.
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- After Katrani rice, Jardalu mango and Magahi paan (betel vine), Bihars Shahi litchi has got the Geographical Indication (GI) tag and has become an exclusive brand in the national and international market, an official said on 18 oct.
- The famous Shahi litchi, which is famous for its sweet, juicy, unique flavour and aroma, is mostly grown in Muzaffarpur and neighbouring districts including East Champaran, Vaishali, Samastipur and Begusarai.
- It has officially become an exclusive brand with the GI tag. We were informed about this positive development on 16 oct.
- It was a much awaited news for Bihar's Shahi litchi, said Vishal Nath, Director of National Research Centre on Litchi (NRCL).
- The GI registration was done in the name of Litchi Growers Association of Bihar, which had applied for the tag, said Bachcha Prasad Singh, President of Litchi Growers Association of Bihar
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- Global body World Steel Association (worldsteel) on 18Oct said it has elected JSW Steel CMD Sajjan Jindal as its treasurer.
- The association has also appointed Tata SteelNSE 0.16 % MD T V Narendran and ArcelorMittal Chief L N Mittal as its members.
- "The Board of Directors 17Oct (Wednesday) elected new officers for 2018/2019 at the worldsteel General Assembly in Toyko, Japan. The new officers are elected for a one-year period," the global steel body said in a statement 18Oct
- The board has elected Andre Johannpeter, Executive VC of Gerdau S A, as the Chairman, the body said.
- YU Yong (Chairman HBIS Group) and Kosei Shindo (Representative Director, Nippon Steel and Sumitomo Metal Corporation) have been elected to the post of Vice-Chairman.
- CMD of Indian steel giant JSW Steel, Sajjan Jindal, has been elected as the Treasurer of worldsteel, the statement said.
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