News Dabba 1 September: Five stories across the web for a balanced news diet
Here are the daily updates that the internet is talking about through various news websites.
Indie Journal brings you the daily updates that the internet is talking about through various news websites. Here's a glance through some of the National and International news updates, from IMF agreeing to extend funds to Sri Lanka, the former First Lady of Malaysia getting convicted, an increase in August GST revenue, impact of La Ninã conditions on India's monsoons, to Arvind Kejriwal winning trust vote.
The Hindu reports IMF provisionally agrees on $2.9 billion loan to Sri Lanka
The International Monetary Fund (IMF) has reached a staff-level agreement with crisis-hit Sri Lanka. A report by the Hindu says that this is the first step ahead of a possible $2.9 billion Extended Fund Facility that the Fund has made contingent on assurances from the island nation’s creditors. The report added that the IMF delegation, addressing a press conference in Colombo, said debt relief from Sri Lanka’s creditors and additional financing from multilateral partners “will be required” to help ensure debt sustainability and close financing gaps. Sri Lanka’s creditors include International Sovereign Bond holders, multilateral agencies, and bilateral lenders, including China, Japan and India. Read the full report on The Hindu.
Former First Lady of Malaysia Rosmah gets 10 years' jail, The Straits Times
Rosmah Mansor, the wife of former Malaysian prime minister Najib Razak, was sentenced to 10 years' jail and fined RM970 million for corruption on Thursday, the Straits Times reports. The action comes just over a week after her husband was jailed after Malaysia's highest court affirmed his corruption conviction. Rosmah, 70, was found guilty by Malaysia's High Court of soliciting a total of RM194 million in bribes to help solar energy firm Jepak Holdings secure an RM1.25 billion solar hybrid project for hundreds of schools in Sarawak in 2016. The sentence is suspended pending her appeal against conviction, the report adds. Read the full report on the Straits Times.
GST revenue increased 28% year-on-year in August, HT report
Hindustan Times reports that the Goods and Services Tax (GST) revenue increased 28% year-on-year in August to ₹1,43,612 crore, crossing the ₹1.40 lakh crore for the six consecutive months. The Union Finance Ministry said that the revenues for the month of August 2022 are 28% higher than the GST revenues in the same month last year of ₹1,12,020 crore. The report added that better reporting coupled with economic recovery has been having a positive impact on the GST revenues on a consistent basis. Read the full report on Hindustan Times.
Indian Express explainer piece on La Ninã conditions that are impacting India’s monsoon
The prevailing La Ninã conditions over the equatorial Pacific Ocean have entered the third consecutive year. Calling this an uncommon ocean phenomenon, Indian Express says that the current La Ninã phase has been prevailing since September 2020. Since the 1950s, La Ninã lasting for more than two years has been recorded only on six instances, as per the data by the India Meteorological Department (IMD). La Ninã conditions are expected to stay till the end of 2022. La Niña years, in the Indian context, are known to favour the Indian summer monsoon. The report quotes experts saying that the continuing La Niña is a good sign for the Indian monsoon. Read the full report on IE.
India Today: Arvind Kejriwal wins trust vote in Delhi Assembly
After levelling allegations of MLA-poaching against the BJP, Delhi Chief Minister Arvind Kejriwal won the trust vote in the assembly on Thursday. An India Today report says 58 MLAs voted in favour of Kejriwal’s Aam Aadmi Party (AAP) in the trust vote. The AAP has 62 MLAs in the 70-member Delhi Assembly, while the BJP has eight. Kejriwal had proposed a confidence motion in the Delhi Assembly after alleging that the opposition BJP’s 'Operation Lotus' to topple his government failed as it could not get any of the AAP MLAs to cross over, the report adds. Read the full report on India Today.