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Morning Digest | Presidential election today; Centre to convene all-party meeting on situation in Sri Lanka on DMK, AIADMK’s request, and more

A select list of stories to read before you start your day




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Privately issued but regulated digital currencies have benefits, say central bank chiefs

The benefits would hinge on how such private companies issuing digital assets are regulated




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TikTok’s global security chief to step down

Roland Cloutier said his move followed recent changes to the security teams at the video-sharing app




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Indiana mall shooting | Three dead; witness kills gunman: police




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Researchers say Thai pro-democracy activists hit by spyware

Cybersecurity researchers have outlined cases where Thai activists involved in the country’s pro-democracy protests had their devices attacked with spyware




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Regulating digital currencies

Some experts and central bankers point to regulation as the way forward. And supervising stablecoins and crypto exchanges would be a much easier affair than exercising controls over individual financial crypto products.




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The Pakistan and IMF talks: What lies ahead?

Why was the Extended Fund Facility (EFF) signed between the two? Why is IMF important for Pakistan’s economy?




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Twitter claims Musk is ‘slow-walking’ trial over $44 billion deal

The two sides will make their arguments about the trial's proposed start date to a Delaware Court of Chancery judge on Tuesday




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U.S. crypto exchange Coinbase wins regulatory nod in Italy

The European Union is working on new rules and controls that crypto companies will have to comply with




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SoftBank halts plans for Arm’s London IPO

SoftBank’s billionaire founder, Masayoshi Son, had told shareholders in June that he was in favour of a U.S. listing




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UK tribunal quashes Meta-Giphy deal block, regulator to reconsider ruling

The Competition Appeals Tribunal said it had quashed the CMA’s ruling and referred the matter back for a new decision




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Putin heads to Tehran for talks with leaders of Iran, Turkey

The gathering has symbolic meaning for Vladimir Putin’s domestic audience as well, showing off Russia’s international clout even as it grows increasingly isolated and plunges deeper into confrontation with the West




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Sri Lanka crisis live updates | Majority of Sri Lanka’s ruling SLPP party in favour of Dullas Alahapperuma as President, Sajith Premadasa as PM: G.L. Peiris

Acting Sri Lankan President Ranil Wickremesinghe and two others were proposed by lawmakers as the three candidates for the July 20 Presidential election




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Daily Quiz | On Nelson Mandela

July 18 is celebrated as Nelson Mandela International Day. A quiz on the legendary leader who was born on that date in 1918




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Crypto lender Celsius defends Bitcoin mining plans as bankruptcy kicks off

Celsius hopes that Bitcoin mining will help it repair its damaged relationship with customers, whose funds were frozen




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COVID-19 triples across Europe on past six weeks; hospitalisations double: World Health Organisation

WHO's Europe director Dr. Hans Kluge described COVID-19 as “a nasty and potentially deadly illness” that people should not underestimate.




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Delayed Asian Games rescheduled to start in September 2023

The Olympic Council of Asia on Tuesday confirmed the delayed games would be held from September 23 to October 8




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China summons U.S. envoy Nicholas Burns, warns America shall 'pay price' as Pelosi visits Taiwan

Chinese Vice-Foreign Minister Xie Feng “urgently summoned” the U.S. Ambassador to China Nicholas Burns late on August 2 night and lodged stern representations and strong protests over Nancy Pelosi’s visit




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U.S. bill strengthens digital news publishers’ right for revenue sharing with Big Tech

A revised version of the bill was tabled by bipartisan senators in the United States on Wednesday that strengthens the stance for digital news publishers to negotiate with Big Tech companies for sharing revenues that entail the use of their content.




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Brazil's Bolsonaro tells Supreme Court election 'is over'

After a private meeting with Mr. Bolsonaro, the Supreme Court Justice Luiz Edson Fachin said the conservative leader had said, "It is over. So, let’s look ahead.”




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Explained | Big tech firms swing the axe on talent

Why are tech companies freezing their hiring process and laying off their employees? How has the new app tracking feature by Apple led to the sacking of employees?




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Data Point | Understanding the goals and vision of COP27 

The Data Point is a bi-weekly newsletter in which The Hindu’s Data team decodes the numbers behind today’s biggest stories.  




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Defence Minister Rajnath Singh interacts with Indian diaspora in Nigeria

The Defence Minister represented India at the swearing-in ceremony of Nigerian President Bola Ahmed Tinubu during an unprecedented three-day visit to the African nation.




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‘Bengaluru is a fast-growing city, very diverse and has a big commitment to culture’

Bengaluru joins the league of 40 global cities including New York, London, Paris, and Tokyo among others at World Cities Culture Forum




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Keep calm, Doga is coming




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Shut up and watch TV




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Wholesale price rise at 4-month low of 1.3% in August

Vegetable prices down 10% from last August, but pulses, fruits, potatoes and onions remain in high inflation zone




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August’s record gold influx lifts import bill to all-time high

The trade deficit widened to a 10-month high of $29.65 billion, the second highest monthly shortfall in merchandise trade




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Sensex, Nifty hit fresh record closing high levels on rate cut hopes




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Windfall tax on crude petroleum slashed to zero

The last such revision took place effective August 31 when the windfall tax on crude petroleum was set at ₹1,850 per tonne




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West Bengal economy performs poorly over several decades: EAC-PM paper

West Bengal’s economic decline, southern States’ growth post-1991, and regional disparities in India’s economic performance analysed in a working paper by Economic Advisory Council to the PM




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U.S. Fed slashes lending rate by 50 bps in first cut since 2020

Policymakers voted 11-to-1 in favour of lowering the U.S. central bank's benchmark lending rate to between 4.75% and 5.00%, the Fed announced




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Prices of essentials unlikely to rise during festive season: Centre

The Food Secretary said the Centre is thinking of lifting the export ban on certain varieties of non-basmati rice




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India's logistics cost will reduce to single-digit in 5 years: Gadkari




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Post-1991, southern States emerged as leaders: EAC-PM

Punjab and West Bengal have recorded sharp declines in per capita income after a head start




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‘India not an ‘abuser’ of tariffs, Trump’s claims unfair,’ says think tank GTRI

The numbers demonstrate that the U.S. also protects specific products of its economy with high tariffs, GTRI said in a report.




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Is the spike in India’s trade deficit a worry?

What are the sectors in which exports have dropped? Is there any significant risk at this point?




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On the pitfalls of estimating GDP

The ongoing GDP series is due for revision. The official agency is considering using GST data to estimate value addition. However, the agency should be careful to not apply unverified datasets and shaky methodologies without adequate testing and validations for GDP estimation




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EPFO logs 20 lakh net new members in July

The latest data shows that nearly 6.25 lakh members between the ages 18 and 25 are first-time workers or new joiners




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U.S. Fed rate cuts will put money in pockets, but a mood shift may take time

Recent surveys suggest that while the pace of price increases has declined dramatically, the public’s mood is still marred by nearly two years of high inflation




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The racial divide in South Africa’s economy since the end of apartheid

South Africa has struggled for years with low economic growth and high unemployment. The official unemployment rate was 33.5% in April-June of this year.




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Rupee falls 11 paise to close at 83.65 against U.S. dollar

According to exchange data, FIIs were net buyers in the capital markets as they purchased shares worth ₹404.42 crore on September 23




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Unemployment rate stagnant, reveals government survey

It says there is minor increase in the distribution of workers in agriculture and the manufacturing sector shows no growth in giving jobs compared to past years




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ADB retains India's growth forecast at 7%; govt spending, agriculture to boost economy

The Indian economy grew 8.2% in the last fiscal (2023-24)




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India, Australia push forward on CECA talks




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Government retains borrowing target, to raise ₹6.61 lakh crore in H2 to fund revenue gap

The gross market borrowing of ₹6.61 lakh crore shall be completed through 21 weekly auctions.




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German economy to shrink further in 2024, think-tanks issue statement




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GST Council sets up GoM on compensation cess; panel to submit report by December 31

In the GST regime, compensation cess at varied rates is levied on luxury, sin and demerit goods over and above the 28% tax




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Export ban on non-basmati white rice removed

Exports to be permitted with immediate effect subject to a minimum export price of $490 per tonne; duty on parboiled rice cut from 20% to 10%; revival of trade to eastern and south east Asian markets expected




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FPIs inflow hit 9-month high of ₹57,359 cr in equities in September; surpasses ₹1 lakh cr mark

In the debt markets, FPIs infused ₹8,543 crore through the Voluntary Retention Route (VRR) and ₹22,023 crore via the Fully Accessible Route (FRR) in September