NATIONAL NEWS

Amazon to launch specialised fulfilment centres in Patna, Guwahati; expand capacity in other cities

·    Amazon India is adding two new specialised warehouses in Patna and Guwahati, and expanding the capacity of its existing specialised fulfilment centres (FCs) in cities like Delhi and Mumbai, a move that will enable the e-commerce major further speed up its delivery capabilities.

·    Unlike traditional warehouses, the fulfilment centres are equipped with highly automated pick, pack and shipping processes to facilitate safe and timely processing of orders.

·    The network of specialised FCs enables the American e-commerce giant to handle delivery of large appliances and furniture.

FACTS

ASSAM CM-Sarbananda Sonowal

INTERNATIONAL NEWS

Iran abandons 2015 nuclear deal’s uranium enrichment cap

·     Iran said it would pursue nuclear talks with European nations in the coming days, while ratcheting up pressure on its partners to salvage the 2015 deal by announcing it had abandoned restrictions on uranium enrichment.

·     Deputy foreign minister Abbas Araghchi said Iran hasn’t closed the diplomatic pathway with Europe and that the US could join talks if it removes sanctions imposed since quitting the accord a year ago.

Deutsche Bank to cut 18,000 jobs in €7.

·    Deutsche Bank plans to cut 18,000 jobs in a sweeping, €7.4-billion overhaul designed to turn around Germany’s struggling flagship lender.

·    The plan represents a major retreat from trading by Deutsche Bank, which for years had tried to compete as a major force on Wall Street.

·    The bank will scrap its global equities business and scale back its investment bank. It expects a €2.8-billion ($3.1 billion) net loss in the second quarter as a result of restructuring charges.

·    Beyond the expected cutbacks to equities, Deutsche said it would also axe some of its fixed income operations, an area traditionally regarded

·   The bank will scrap its global equities business and scale back its investment banking operations.

Sitharaman to address RBI board today

·    Finance Minister Nirmala Sitharaman is scheduled to address the post-budget meeting of the Reserve Bank of India’s (RBI) central board on Monday and highlight the key points of the Budget, including the fiscal consolidation road map.

·     The Centre also came out with a road map to reduce the fiscal deficit—the gap between total expenditure and revenue—to 3% of the GDP by FY21, and eliminate the primary deficit.

Easing the way for taxpayers

·    E-assessments will expedite the compliance processes and minimise malpractices

·    In the Budget last week, the Finance Minister proposed that faceless e-assessments would be introduced in a phased manner. This bodes well for taxpayers who are questioned by the tax department based on the information in the tax return filed.

·    Tax assessment is a detailed review of the tax returns by the assessing officer to ensure that the income, taxes, deductions, exemptions and relief reflected in the tax return are in order and that the taxes and incomes are computed and reflected correctly.

GoAir launches seven international flights

·    Budget carrier GoAir on Sunday announced the launch of flight services on seven new international routes, including three new destinations Bangkok, Dubai and Kuwait, as part of India.

RESIGN

Jyotiraditya Scindia resigns as Congress general secretary

·      In charge of wester U.P Congress general secretary Jyotiraditya Scindia resigned from his post on July 7, taking responsibility for the party’s poor performance in the Lok Sabha polls.

Milind Deora resigns as Mumbai Congress president

·     Days after Rahul Gandhi resigned as Congress president, in the wake of the drubbing in the recent Lok Sabha election, party Mumbai president Milind Deora on Sunday announced his resignation from his post, hinting he may take up an important responsibility in Delhi. 

OBITUARY

Former AIADMK MP R. Ramakrishnan passes away

· Former AIADMK MP and chairman of the Madras Race Club R. Ramakrishnan died in Chennai on July 7. He was 73 and is survived by his son and daughter.

·         Mr. Ramakrishnan, who started his career in the Indian Express as the Officer on Special Duty (OSD), later joined the TVS Group and retired as its director.

·         He was nominated to the Rajya Sabha in 1981 by former Chief Minister M.G. Ramachandran and he was also the youngest Sheriff of Madras.

·         He also served as the chairman of the Madras Race Club, Bangalore Turf Club and Turf Authorities of India.

SPORTS

Indians bag four golds

· Mohammed Salahuddin took the triple jump gold, with a personal best 16.64m, ahead of compatriot Mohammed Zuber (16.21), in the G. Kosanov memorial international athletics meet here on Sunday.

· M. Sreeshankar won the long jump with a 7.78m effort.

· India had a one-two in men’s javelin thanks to Sahil Silwal (77.40m) and Rohit Yadav (75.36).

· Meanwhile, Saritaben Gayakwad won the women’s 400m gold in the Kutno international meet in Poland clocking a season-best 52.77s.

·  Soniya Baishya (53.73) and R. Vidhya (53.73) took silver and bronze while V.K. Shalini was sixth in 55.25.

MotoGP: Marquez Beats Vinales To Win German GP; Crutchlow finishes On Podium

· Repsol Honda racer Marc Marquez secured yet another win of the season in the 2019 MotoGP German Grand Prix.

· The reigning world champion took his tenth consecutive win at Sachsenring, beating Yamaha's Maverick Vinales to the top spot, while podium contender Alex Rins of Suzuki crashed in the final stages.

·      Coming in third on the podium was Cal Crutchlow of LCR Honda in a highly impressive finish, considering the rider is struggling to walk with a fractured right knee. With dominant win in the German GP, Marquez gains a 58 point advantage in the overall rider standings for the season.

Commonwealth chess championship: Fantastic fifth for Abhijeet Gupta

· Favourite Abhijeet Gupta claimed his fifth title as India swept medals in all 16 sections of the Commonwealth chess championship here on Sunday.

· After two other leaders, S. L. Narayanan and Aravindh Chithambaram, drew their top board battle in 32 moves, Abhijeet caught Arjun Erigaisi in a checkmating net in 39 moves to reach 7.5 points.

· Aravindh topped a three-way tie for the second spot with Swapnil Dhopade and Narayanan at seven points.