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- The trade war between the US and China has intensified. US President Donald Trump has imposed an additional 10 per cent tariffs on about 200 billion dollar worth of Chinese imports.
- The higher import taxes will apply to almost 6,000 items, marking the biggest round of US tariffs so far.
- The tariffs will take effect from 24 September, starting at 10% and increasing to 25% from the start of next year unless the two countries agree on a deal.
- Trump said the latest round of tariffs was in response to China's unfair trade practices including subsidies and rules that require foreign companies in some sectors to bring on local partners
- Trump also warned that if China takes retaliatory action against US farmers or industries, Washington will immediately pursue phase three, which is tariffs on approximately 267 billion dollars of additional imports. If he does go ahead with a further 267 billion dollars worth of tariffs, it would mean virtually all of China's US exports would be subject to new duties.
- So far, the United States has imposed tariffs on 50 billion dollars worth of Chinese products to pressure China to make sweeping changes to its trade, technology transfer and high-tech industrial subsidy policies.
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- Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina will jointly flag off the construction of India-Bangladesh Friendship Product Pipeline Project through video conferencing on 18 September.
- Petroleum and Natural Gas Minister Dharmendra Pradhan said, the project will go a long way in strengthening Indo-Bangla ties.
- Both countries had entered into an agreement for the pipeline construction in April this year during Foreign Secretary Vijay Gokhale's visit to Dhaka.
- The 130-kilometre pipeline will connect Siliguri in West Bengal in India and Parbatipur in Dinajpur district of Bangladesh. The estimated project cost will be 346 crore rupees and it will be completed in 30 months time.
- The capacity of the pipeline will be 1 million metric tons per annum. The six-kilometre Indian leg of the pipeline project will be implemented by the Assam-based Numaligarh Refinery Limited and the remaining 124 kilometres of the pipeline project will be implemented by Bangladesh Petroleum Corporation.The project will replace the existing practice of sending diesel by rail covering a distance of 510 kilometers.
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- Kenyan Eliud Kipchoge set a new marathon world record in Berlin today, smashing the previous best as he clocked 2 hour 1 minute 39 second.
- The 33-year-old Olympic champion, aided by a string of pacemakers through to 25km of the 42.195 km race, took 1 minute 17 second off the previous best set four years ago by Dennis Kimetto.
- It was the largest single improvement on the marathon world record since Derek Clayton improved the mark by 2:23 in 1967.
- Acclaimed as the greatest marathon runner of the modern era, Kipchoge has dominated marathon racing since making his debut in Hamburg in 2013. Ethiopian Ruti Aga finished second and her compatriot Tirunesh Dibaba third.
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- The new amalgamated bank will have a total business of more than Rs 14.82 trillion. The alternative mechanism under Finance Minister Arun Jaitley has advised the boards of the three banks to consider the proposal.
- Consolidation of banking sector got yet another major booster dose as the government announced its intention to merge three public sector banks on 17 September
- The centre has proposed an amalgamation of state-owned Bank of Baroda, Dena Bank and Vijaya Bank to create India's third largest public sector bank.
- The alternative mechanism under Finance Minister Arun Jaitley has advised the boards of the three banks to consider the proposal. The new amalgamated bank will be a strong competitive bank with economies of scale. Jailtey said that the government has been careful in not merging weak banks.
- However, the centre has sought to allay any fear on part of employees, giving assurance that no one will face any adverse service conditions after the amalgamation.
- Taking yet another step in consolidation process, the government has also moved to offload its majority stake in IDBI Bank to Life Insurance Corporation of India.
- Finance minister also came down hard on the UPA regime on the issue of the bank NPAs. He said that the NPAs jumped manifold during UPA regime and were swept under the carpet by the then govt.
- He said that the bank lending before 2008 was Rs 18 lakh crore which jumped to Rs 55 lakh crore between 2008 and 2014. Citing the merger of SBI'e entities, jaitley said that it will benefit the working conditions of the employees of smaller banks.
- No time frame has been given for the completion of the process. The first big merger affected by the NDA was the merger of five associate banks of State Bank of India with itself.
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- By 2025, more than half of all workplace tasks that exist today will be performed by machines, yet in terms of overall numbers, the robot revolution will create 58 million net new jobs in the next five years, says a study.
- According to a new research by the World Economic Forum (WEF), adoption of automation and robotics will bring a "seismic shift" in the way humans work alongside machines and algorithms.However, in terms of overall numbers of new jobs, the outlook is positive.
- The surveyed companies report that at present, 71 per cent of total current task hours are performed by humans, compared to 29 per cent by machines. By 2022, this average is expected to shift to 58 per cent task hours performed by humans, 42 per cent by machines. By 2025, machines will perform 52 per cent of the total task hours.
- "Despite bringing widespread disruption, the advent of machine, robots and algorithm could actually have a positive impact on human employment. Our projection, based on a survey of executives representing 15 million employees in 20 economies, suggests globally 133 million jobs could be created by technologies of the Fourth Industrial Revolution compared while 75 million could be displaced," WEF said.
- While a net positive job growth is expected, there will be a significant shift in the "quality, location, format and permanency of new roles", WEF said. "Businesses are set to expand their use of contractors doing task-specialised work, engage workers in more flexible arrangements, utilise remote staffing, and modify the locations where their organisation operates to ensure access to talent," the research, titled 'The Future of Jobs 2018' said.
- Among the roles set to experience increasing demand across all industries are data analysts and scientists, software and applications developers, and e-commerce and social media specialists, all of which are significantly based on or enhanced by technology.
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- French researchers hoping to get an early warning on pollution in the ocean have found an unlikely ally in a mollusc more often destined for the dinner table.
- Their findings reveal that much like canaries in a coal mine, oysters stationed near offshore oil platforms can detect minute amounts of hydrocarbons as each one constantly filters dozens of gallons of water every day.
- That could alert scientists to tiny infrastructure cracks before they become catastrophic oil spills that threaten wildlife and coastal communities.
- Attached to rocks or other supports, oysters are ideal for nearly real-time analysis because "they have nothing to do except notice the surrounding noises and temperature and light variations," said Jean-Charles Massabuau, a researcher at France's CNRS scientific institute. The bivalve "is perfectly made for sampling the quality of the water it filters all day long" as it reacts almost instantly to the slightest amount of oil, Massabuau said.
- To study the reactions, he and his team have come up with an electrically isolated aquarium using concrete and plastic foam blocks, old bicycle tube tires and tennis balls at the world's second-oldest marine research station, on the Bay of Arcachon in southwest France.
- Electrodes are attached to about a dozen oysters in the tank, allowing researchers to measure how quickly each oyster's valves are opening and closing to filter the water for food. Spikes in valve cycles are the first alert that the mollusc has become stressed, with larger increases corresponding to higher hydrocarbon concentrations.
- The observations have been tested in areas including the Barents Sea off Norway and Russia, as well as canals built for a research facility operated by the French energy giant Total outside Pau in southwest France.
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- An arbitral tribunal has told Infosys to pay former chief financial officer Rajiv Bansal a severance amount of ₹ 12.17 crore with interest as it rejected the Bengaluru-based company’s counterclaim for a refund of a previously paid severance amount of ₹5.2 crore and damages.
- “The arbitral tribunal has communicated its decision in the arbitration proceedings in relation to the severance agreement between the company and its former CFO, Mr. Rajiv Bansal. Per the award, Infosys is required to pay Mr. Bansal the outstanding severance amount of ₹12.17 crores with interest,” according to a BSE filing.
- “While the award acknowledges that Infosys had bona fide disputes, its counterclaim for a refund of previously paid severance amount of ₹ 5.2 crores and damages, has been rejected. The arbitral award is confidential. Infosys will take legal advice for necessary actions to be undertaken in respect of the award.”
- Mr. Bansal quit the company in 2015 and was supposed to get ₹17.38 crore at that time. That amounted to 24 months of his pay. Infosys didn’t pay Mr. Bansal the rest of the amount.
- The co-founders of Infosys, led by N.R. Narayan Murthy, had objected to the severance pay package as more than acceptable. Mr. Bansal took Infosys to the tribunal last year to contest the severance pay. His contention was that it was less than what was agreed upon.
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- The government has set a target of producing a record 285.2 million tonnes of food grains in crop year 2018-19 beginning July, despite monsoon rainfall has been 9% below normal so far this year. The target is 0.53% higher than the initial forecast made in April, the agriculture ministry said on 18 september
- India harvested a record 284.8 million tonnes of food grains in 2017-18. For the current crop year, the government targets higher production of rice, wheat, oilseeds and cotton, while production of pulses, coarse cereals and sugarcane is expected to be lower than last year.
- Kharif production this year is expected to be better to last year’s owing to excellent crop condition, ministry officials said.
- They, however, did not explain the reasons for buoyant forecast for a year when rainfall has been below average and some parts of the country have been ravaged by floods.
- Parshottam Rupala, minister of state for agriculture, said rains have been less than normal in some parts of the country, and more than normal in some places. “Despite that we expect higher production in kharif,” he said. “Due to water availability in reservoirs, even the rabi planting will be very good.”
- The agriculture ministry has set kharif production target at 141.20 million tonnes, which is 0.71% higher than the target set in April.
- The ministry also said it expects rabi planting which begins by mid-October to be higher than last year since there were good soil moisture and higher water levels in reservoirs.
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- Canada and the US states of Alaska, Oregon and Washington would all reduce their catch of fragile salmon species under the terms of an updated international agreement that, if approved, will spell out the next decade of cooperation between the US and Canada to keep the migratory fish afloat in Pacific waters.
- Members of the Pacific Salmon Commission on Monday recommended a conservation plan that stretches to 2028 after two years of intense negotiations involving fishermen, tribes on both sides of the border and state and federal officials. It must be approved by both the US and Canadian governments.
- The international commission first met in 1985 to create more cooperation between Canada and the US on protecting salmon, which migrate thousands of miles from inland streams to the Pacific Ocean and then back to their spawning place.
- The agreement covers pink, Coho, sockeye, chum and chinook salmon and spans a territory from Cape Falcon, Oregon, in the south to southeast Alaska in the north. The current agreement expires Dec. 31.
- One of the most significant parts of the new treaty is reductions in the allowed harvest of chinook salmon, and particularly of chinook populations that are listed under the US Endangered Species Act, the Oregon Department of Fish and Wildlife said.
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- Automation arrived long back in India and the country is now driving Robotic Process Automation (RPA) and Artificial Intelligence (AI)-based technologies globally even ahead of the US and Japan a new study said on 18 Sep
- According to "Augmented Human Enterprise" an academic study conducted by Goldsmiths (University of London) and enterprise software provider Automation Anywhere 71 per cent of Indian respondents said their employees used RPA and AI-based augmentation to its full potential the highest proportion for any of the four markets surveyed.
- While 66 per cent Indians said that they are empowered to take risks, 77 per cent said that their organisation prioritised employee development.
- India also outscored other markets on employee engagement and (with an impressive 84 per cent) on employee listening.
- Think of the human body breathing. It's a complex and critical mechanism but automated so our brains are freed to power everything else we do. I think for many organisations, all they can do is 'breathe.' It's so important, it's all the employees can focus on," said Mihir Shukla, CEO at Automation Anywhere.
- When that breathing is automated within the organisation, then employees can focus on so many creative and strategic issues and opportunities.
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- Kerala Tourism’s efforts to get back to its feet after the floods got an impetus when its innovative marketing campaigns won the entity two prestigious gold awards of the Pacific Asia Travel Association (PATA).
- Sudeshna Ramkumar, assistant director, India Tourism, Singapore, received the award on behalf of Kerala Tourism at a function in Langkawi, Malaysia, on 21 September during PATA Travel Mart 2018. Kerala Tourism got the first gold for its ‘Yalla Kerala’ print media campaign in the Gulf countries.
- It showcased the State’s greenery and backwaters, a different world from the Gulf, just four hours away. With the punch line, ‘Yalla Kerala,’ the campaign triggered a lot of interest for God’s Own Country as a tourism destination in the Gulf countries.
- The second gold award came for an innovative poster Kerala Tourism had developed for the third edition of the Kochi-Muziris Biennale (KMB), the biggest contemporary art show in south Asia. The post titled ‘live-inspired’ featured a colourful boat and fishermen, and could be put up straight as well as upside down.
- The campaign and posters were developed and designed by Stark Communications.“Winning two sought-after gold medals of PATA will give a fillip to our ongoing efforts for a robust rejuvenation of tourism in the State,” said Tourism Minister Kadakampally Surendran. “Our efforts have already started paying off. Most of our tourist destinations are ready to welcome the tourists,” he said.
- The PATA gold awards were a testament to the undiminished charm of tourist destinations in the State, which were attracting visitors in droves, Secretary, Tourism, Rani George said. Our tourism campaigns were specimens of creative brilliance and always evoked international attention and admiration, he said.
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- Hindi film industry stars Varun Dhawan and Anushka Sharma have been signed on to promote and endorse the Skill India Mission, chaired by Prime Minister Narendra Modi.
- The actors will next be seen in "Sui Dhaaga - Made in India", a Yash Raj Films project, which salutes India's entrepreneurs and skilled workforce, including homegrown artisans, craftspeople and weavers. Varun plays a tailor named Mauji and Anushka essays the role of his wife and embroiderer Mamta.
- The duo will dedicate time to promote the skilled talent in the country. "Varun Dhawan and Anushka Sharma, through this unique film 'Sui Dhaaga - Made in India', are bringing to focus the incredible skills and talent of our homegrown artisan and craftsmen community.
- It is really heartening to see actors like them doing a film that has such a significant social message. India is one of the youngest countries in the world; and it is a matter of great pride for us to see such dedicated and passionate skilled youth with entrepreneurial skills in our country who are bringing name and fame to the nation with their work," Dharmendra Pradhan, Minister of Petroleum and Natural Gas and Minister of Skill Development and Entrepreneurship, said in a statement.
- Led by the Ministry of Skill Development and Entrepreneurship (MSDE), Skill India aims to standardise vocational training, which helps in creation of latest infrastructure, ensures industry partnerships to extend technology support to make the youth more employable.
- "Prime Minister Modi has displayed incredible vision and genuine foresight in aiming to organise, skill, train and give financial support and backing to our craftsmen, artisans and similar workmen. "We are proud to be promoting this campaign that we feel extremely close to like our movie 'Sui Dhaaga' that celebrates self-reliance and entrepreneurship," Varun said.
- Anushka added, "Skill India Campaign reflects the government's determination to include and support the talented skilled force of the country. While making 'Sui Dhaaga', we came across so many stories of talented, skilled crafts people and artisans who don't get a fair chance to showcase their talents."
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- Three infants die every two minutes on an average in India due to lack of access to water, sanitation, proper nutrition or basic health services, according to a report by the United Nations Inter-agency Group for Child Mortality Estimation (UNIGME).
- About 8,02,000 infant deaths were reported in India in 2017, the lowest in five years, but the infant death numbers still remained the highest in the world, followed by China at 3,30,000, according to the report.
- Dr Gagan Gupta, Chief of Health at the World Health Organization, however, said India is making good progress in combatting reasons leading to infant deaths through a number of government-led initiatives.
- "It has to be taken into consideration that India has a birth rate of 25 million every year and the number of infant deaths have come down and is lowest in five years. This is also the first time that the number of deaths under five is equal to a number of births. The next step would be reducing the number of deaths," he said."About 18 per cent of children born globally are from India," he added.
- The main reasons behind infant deaths remain to be lack of access to water, sanitation, proper nutrition or basic health services, Gupta said.
- Infant deaths were reported highest in the world in India, followed by Nigeria at 4,66,000, Pakistan 3,30,000 and Democratic Republic of Congo 2,33,000 (DRC), the report said.
- The UNIGME report said 6,05,000 neonatal deaths were reported in India in 2017, while the number of deaths among children aged 5-14 was 1,52,000.
- "India continues to show an impressive decline in child deaths, with its share of global under-five deaths for the first time equalling its share of childbirths," Yasmin Ali Haque, Representative, UNICEF India, said.
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- SpaceX, Elon Musk's space transportation company, on Monday named its first private passenger as Japanese businessman Yusaku Maezawa, the founder and chief executive of online fashion retailer Zozo.
- A former drummer in a punk band, billionaire Maezawa will take a trip around the moon planned for 2023 aboard its forthcoming Big Falcon Rocket spaceship, taking the race to commercialize space travel to new heights.
- The first person to travel to the moon since the United States' Apollo missions ended in 1972, Maezawa's identity was revealed at an event on Monday evening at the company's headquarters and rocket factory in the Los Angeles suburb of Hawthorne.
- Maezawa, who is most famous outside Japan for his record-breaking $110 million purchase of an untitled 1982 Jean-Michel Basquiat painting, said he would invite six to eight artists to join him on the lunar orbit mission.
- The billionaire chief executive of electric car maker Tesla Inc, Musk revealed more details of the Big Falcon Rocket, or BFR, the super heavy-lift launch vehicle that he promises will shuttle passengers to the moon and eventually fly humans and cargo to Mars. The BFR could be conducting its first orbital flights in about two to three years, he said.
- Musk had previously said he wanted the rocket to be ready for an unpiloted trip to Mars in 2022, with a crewed flight in 2024, though his ambitious production targets have been known to slip."It's not 100 percent certain we can bring this to flight," Musk said of the lunar mission.
- The amount Maezawa is paying for the trip was not disclosed, however, Musk said the businessman outlaid a significant deposit and will have a material impact on the cost of developing the BFR.
- The 42-year-old Maezawa is one of Japan's most colorful executives and is a regular fixture in the country's gossipy weeklies with his collection of foreign and Japanese art, fast cars and celebrity girlfriend.
- Maezawa made his fortune by founding the wildly popular shopping site Zozotown. His company Zozo, officially called Start Today Co Ltd, also offers a made-to-measure service using a polka dot bodysuit, the Zozosuit.
- With SpaceX, Amazon.com founder Jeff Bezos' Blue Origin and entrepreneur Richard Branson's Virgin Galactic battling it out to launch private-sector spacecraft, Maezawa will join a growing list of celebrities and the ultra-rich who have secured seats on flights offered on the under-development vessels.
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