The seven members of the Senate Armed Services’ Readiness Subcommittee are asking Senate appropriators to provide defense officials more leeway in spending the department’s fiscal 2018 budget allocation, with the department likely to have less than six months to use the extra funds afforded by last month’s bipartisan budget agreement. The lawmakers propose waiving the one-year limitation on spending operation and maintenance funds and the “80/20 rule,” which restricts officials from obligating more than 20 percent of one-year appropriations during the last two months of the fiscal year, reports Defense News. “Either of these two exceptions will ensure that service secretaries will have the flexibility to obligate funds in an efficient manner to restore readiness and execute the National Security and Defense Strategy,” according to the readiness panel’s March 5 letter. The request echoes a similar proposal House appropriators are considering.Air Force photo by Sr. Airman Joshua Kleinholz Dan Cohen AUTHOR
State-owned telecom operators – Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) – are reportedly in talks with private players to share spectrum in a bid to reduce losses and improve their revenues.”We are talking to two-three private operators. We have unutilised spectrum in many locations, in different circles,” a senior BSNL official told Business Standard.While MTNL provides telecom services in Delhi and Mumbai, BSNL offers services in the rest of the country. Due to intense competition in the telecom space, both the public sector operators have been struggling, incurring huge losses for the past few years.BSNL had posted a loss of Rs 7,600 crore for the financial year ending 31st March 2015, while MTNL’s loss stood at Rs 745 crore in the first quarter of the current financial year.Sharing spectrum with the two government-owned telcos is expected to assist private operators to address rising call drop issues. It will enable them to use their spectrum efficiently.In a bid to address the growing furore over increasing call drops, the telecom regulator has recently recommended operators to provide compensation to users for each dropped call. The Telecom Regulatory Authority of India (TRAI) has asked the operators to offer a compensation of Re 1 for each call drop.With the government giving its green signal for spectrum sharing, many companies have intensified their talks for such an arrangement, said the BSNL official.Nevertheless, the government has to ease the spectrum cap limits in order to enable spectrum sharing between two major telecom operators.As per the existing rules, an operator is not permitted to have over 25% of the spectrum allotted to all operators “in a particular circle or more than 50% of spectrum assigned in a particular frequency band.”
Employees of Infosys Technologies Limited walk in the campus of the company’s headquarters in Bangalore on April 13, 2017.MANJUNATH KIRAN/AFP/Getty ImagesUpdate at 3.17 PM: Wipro recovered from its lows to trade at Rs 525.75, down 2.05 percent while Infosys was trading 1.47 percent higher at Rs 962.60, while Biocon gained 1.26 percent to trade at Rs 1,033 after the GST Council reduced the tax rate on insulin from 12 percent to 5 percent.The BSE Sensex was down 166 points to 31,095, dragged by Tata Motors, L&T, Wipro and ICICI Bank. Wipro shares go ex-bonus from Tuesday (June 13) while the record date for the 1:1 bonus shares is June 14, 2017.Update at 10.50 AM: Wipro shares crashed almost 3 percent to hit an intraday low of Rs 521.40 in response to the company flagging off Donald Trump’s victory in the US presidential elections as a factor affecting growth. Infosy was also down 0.81 percent to Rs 941.”On November 8, 2016, Donald J Trump was elected the next President of the United States. As a candidate, Trump expressed support for policies impacting existing trade agreements, like North America Free Trade Agreement. He also proposed trade agreements, thus, promoting greater restrictions on free trade generally and significant increases tariffs on goods imported into the United States,” Wipro said in a regulatory filing with the US Securities and Exchange Commission (SEC).”Social, political, regulatory and economic conditions or in laws and policies governing foreign trade, manufacturing, development and investment in the territories and countries where we currently operate could adversely affect our business,” the company added. Original story:Political uncertainty in Europe, especially in the UK after election results threw a hung parliament, led to weak opening on Asian stocks markets on Monday, impacting India. The BSE Sensex opened about 150 points lower to hit 31,106 but partially recovered later to trade at 31,140, down 122 points, at around 9.45 am. Top losers were Wipro (down 2.6 percent to Rs 522), TCS and Adani Ports while stocks bucking the trend included Sun Pharma, Maruti Suzuki India and GAIL (India).The bearish opening for Indian stock market was on predicted lines. “Indian markets are likely to open flat and may trade in positive zone tracking the SGX Nifty and Asian markets,” brokerage Angel Broking said in a note on Monday morning.The government will be releasing May retail inflation data and April factory output (IIP) after markets close for the day on Monday. Finance minister Arun Jaitley will be meeting chiefs of public sector banks to discuss a slew of developments and initiatives, including NPAs.Brokerage Nirmal Bang Institutional Equities has forecast retail (CPI) inflation to come at 2.3 percent, lower than the record low of 2.99 percent posted for April.”May 2017 Consumer Price Index or CPI inflation is likely to come in at 2.3 percent, lower than the 3 percent reading for the previous month,” Teresa John, economist at brokerage Nirmal Bang Institutional Equities, said in a note on Friday.”The decline in CPI inflation can be attributed to the fall in food inflation, particularly continuous disinflation in pulses, and soft vegetable prices combined with the base effect,” she added.GST updateAfter tweaking tax rates on 66 items such as cinema tickets, cashew, insulin, incense sticks and computer printers, at its meeting on Sunday, the Goods and Services Tax (GST) Council will be meeting on June 18 to review its preparedness for rolling out the GST rates from July 1 2017.Petrol, diesel prices for Monday, June 12(The daily price mechanism currently valid in five cities will be extended to the entire country from June 16). www.ioc.com A car enters an Indian Oil fuel station in New Delhi, August 29, 2016.Reuters file
President Abdul Hamid arrives in Astana on Saturday evening. Photo: BSSPresident Abdul Hamid arrived in Astana on Saturday evening to attend the First Summit of OIC on Science and Technology to be held in the capital of Kazakhstanon Sunday and Monday.The president arrived at Astana Nurshultan Nazarbayev International Airport at 8:25pm(local time) by a VVIP flight of Bangladesh Biman.Minister for justice of Kazakhstan Marat Beketayev, first deputy mayor of Astana Sergei Mikailovich and ambassador of Bangladesh to Uzbekistan Mosud Mannan received president Hamid at the airport.Hamid is leading a Bangladesh delegation to the OIC summit.The summit is expected to discuss and adopt the OIC Ten Year Action Plan on Science and Technology ‘OIC STI Agenda 2026’.President Hamid will make a statement at the summit calling for creating a new story of development for the wellbeing of the Muslim Ummah through active cooperation in science and technology.He will emphasise that the contributions of the member states individually, jointly or collectively to science and technology will enhance the image of Muslims, embolden their position in the world and give them due respect in global debate and discourse while improving the conditions of the Ummah.The president will also share the initiatives, programmes and success stories of Bangladesh government with the OIC member states in many areas of science and technology and give invaluable guidance to the OIC with his recommendations.During the visit, he is expected to have bilateral talks with his Kazakh counterpart and some of the counterparts from the participating member states.President Hamid is scheduled to return home on 12 September next.
dhakaA young man was killed as a private car hit him in the city’s Karwan Bazar area on Wednesday night, reports UNB.The identity of the deceased could not be traced immediately.Witnesses said the private car knocked the youth, aged around 25, around 8:45pm, leaving him severely injured.The injured was taken to Dhaka Medical College Hospital (DMCH) where the duty doctor declared him dead, said DMCH police camp in-charge inspector Bachchu Mia.The body was sent to the hospital morgue for autopsy, he added.
BALTIMORE (AP) — The FBI won’t take over an investigation into the homicide of a Baltimore city detective who was shot in the head the day before he was to testify before a federal grand jury about a group of indicted officers, the city’s top police official said Wednesday.Det. Sean Suiter, an 18-year veteran of the Baltimore Police Department, was shot in the head while investigating a murder in West Baltimore, Nov. 15. He died from his injuries about 24 hours after the shooting. (Courtesy photo)FBI officials have seen no evidence to suggest Detective Sean Suiter’s death was “directly connected” to the federal corruption investigation, therefore FBI officials believed it would be “prudent” for the police to continue leading the inquiry, Baltimore Police Commissioner Kevin Davis said, quoting a letter he said he received from FBI Assistant Director Stephen Richardson.“That means that they believe that at this moment there’s no conspiracy to murder Sean Suiter by someone else involved in that ongoing case,” Davis told reporters.Rumors about Suiter’s Nov. 15 shooting went into overdrive last month when Davis confirmed that the acting U.S. attorney and FBI informed him the detective was gunned down the day before he was to testify in an ongoing federal investigation of a disbanded gun-recovery unit. Eight Baltimore officers have been indicted on charges they defrauded their department, falsified evidence and shook down citizens. The same week Suiter was shot, a Philadelphia officer became the ninth officer indicted in the investigation of Baltimore’s Gun Trace Task Force.Suiter was attacked while investigating a 2016 triple homicide with his partner in a high-crime neighborhood. Davis said Suiter approached a “suspicious” man in a vacant lot between row houses, leading to a violent confrontation in which he was shot with his own gun. His partner can be seen on private surveillance video taking cover across the street, according to Davis.For weeks, Davis has repeatedly said his department had no reason to believe Suiter’s death was connected to his pending testimony, but he also has stressed that investigators are not ruling out anything.He sent a formal request on Dec. 1 asking the FBI to take over the investigation. In his request to the FBI director, Davis said the investigation was “significantly complicated by the fact that he was to appear before a grand jury the following day.”On Wednesday, he told reporters that he took the “unusual step” of asking the FBI to lead the investigation “primarily because of the extraordinary circumstances associated with the death” of Suiter and because he knows that many people “think there is corruption involved in this.”“It was out of an abundance of caution. I wanted the credibility to be at its very highest level,” said Davis, adding that he has full confidence in his department and Baltimore has “the best detectives” anywhere.There have been no arrests, despite a $215,000 reward.Davis said there is “zero evidence” to support some speculation that the homicide detective staged a suicide. And he stressed that the FBI does not think that Suiter’s death “has anything to do with that pending testimony.”“If they did I have no doubt in my mind that the FBI would have taken this case,” he said, adding that “what we have left before us is a murder committed by a yet-to-be-unidentified perpetrator.”He emphasized that the Suiter investigation was an active investigation.FBI agents and other federal authorities have been assisting Baltimore police in the high-profile homicide investigation for weeks.Suiter’s widow, Nicole, also wanted the FBI to lead the investigation into her husband’s death, according to Davis and Baltimore Mayor Catherine Pugh. Davis said she was aware of the FBI’s decision.___David McFadden on Twitter: https://twitter.com/dmcfadd