In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push.

Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on technology to boost growth.

Amid rising geopolitical tensions between the US and Iran, India’s aviation regulator DGCA on Saturday said Indian airlines have decided to avoid the affected part of the Iranian airspace and re-route their flight suitably.

On Friday, the American aviation regulator, the Federal Aviation Administration (FAA), issued a Notice to Airmen (NOTAM) prohibiting US-registered aircraft from operating in the overwater area of the Tehran Flight Information Region until further notice, due to heightened military activities and increased political tensions.

India skipper Virat Kohli will have the chance to add another feather to his cap by becoming the fastest batsman to score 20,000 international runs when he takes strike against Afghanistan in their World Cup tie at the Rose Bowl in Southampton on Saturday.

Kohli currently has 19, 896 runs to his name and is just 104 runs short of the record that legendary Indian batsman Sachin Tendulkar holds together with West Indies great Brian Lara.

Prime Minister Narendra Modi is likely to meet leading economists, experts ahead of the Union Budget which will be presented in Parliament on July 5. Modi's meeting with economists is expected to be held around 4:30 pm on Saturday at NITI Aayog.

The agenda of the meeting will be to discuss macro-economic issues, the current slowdown in the economy and Union Budget which will be tabled in the Parliament on July 5.

A state of emergency was extended by Sri Lanka's President on Saturday, going back on pledges to relax the tough laws introduced after the Easter Sunday attacks that killed 258 people.

Maithripala Sirisena said in a decree he believed there was a "public emergency" in the country, and was invoking provisions of the public security act extending the state of emergency.

Prime Minister Narendra Modi has been declared the winner of a reader’s poll for the world’s most powerful person 2019, conducted by a leading British magazine.

The poll was conducted by the British Herald magazine. The magazine said that PM Modi defeated several world leaders and politicians to be declared as the winner. He won with 30.9% of the vote.

The CBI has registered a case against unknown officials of Indian Air Force, Ministry of Defence and controversial arms dealer Sanjay Bhandari for alleged corruption in procurement of 75 Pilatus basic trainer aircraft in 2009, officials said Saturday.

The CBI also carried out out searches at the residence and office of Bhandari in connection with the deal, officials said.

India on Saturday said it expects Pakistan to take all necessary steps to effectively implement the FATF action plan fully by September and take credible, verifiable, and irreversible measures to address global concerns related to terrorism and terrorist financing emanating from its soil.

In response to a media query regarding the FATF report, Ministry of External Affairs Spokesperson Raveesh Kumar said the FATF has decided to continue to keep Pakistan on its compliance document (i.e. Grey List) for the International Cooperation Review Group (ICRG) monitoring for its failure to complete the action plan items due in January and May 2019.

The government has refused to relent on the deadlines it has given two- and three-wheelers for running on batteries.

The deadline for three-wheelers is 2023, and that for two-wheelers having up to a 150-cc engine is 2025.

In a major relief for diamond jewellery exporters, the government is planning to waive the three per cent Integrated Goods and Services Tax (IGST) levied on unsold precious ornaments brought back to India from overseas exhibitions.

As a practice, exporters carry large quantities of diamond jewellery for displaying in exhibitions abroad, for which they have to pay three per cent IGST levy. Since these ornaments are not carried based on pre-orders from foreign customers, some of them are sold in the exhibition itself, while the remaining are brought back to India.

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