MUMBAI: Maharashtra CM Prithviraj Chavan has tendered his resignation to state Governor Vidyasagar Rao. The CM met the Governor on Friday and announced that he is stepping down. This is an indication that Maharashtra is headed for President's rule. The state is going to polls on October 15 and results will be out on 19th. This process will happen now under President's rule. These developments happened after NCP which shared power with the Congress withdrew its support to the Congress led government.

Prime Minister Narendra Modi, who arrived in US for a five-day visit, said that he was 'deeply touched' by the warm welcome accorded to him.

"A big thank you for the warm welcome in New York! Deeply touched. Looking forward to a great trip ahead," Modi said in a tweet.

Global ratings agency Standard & Poor’s on Friday upped its outlook for Reliance Industries (RIL), Oil & Natural Gas Corp (ONGC), Tata Consultancy Services (TCS) and seven other Indian firms from negative to stable following similar action on India’s sovereign credit rating.

The rating agency — which revised its outlook on India from negative to stable — has revised the outlook for Reliance Industries to stable from negative while affirming the company's rating as BBB+, two notches higher than India's sovereign rating of BBB-.

Cuba will send nearly 300 more doctors and nurses to West Africa to help combat the Ebola virus, raising to 461 the number of its medical professionals joining world efforts to contain an outbreak that has killed more than 3,000 people.

A group of 165 healthcare workers is due to arrive in Sierra Leone in early October. The 62 doctors and 103 nurses have been training for their mission with international experts at a Havana hospital specializing in tropical diseases.

With a special court in Bangalore set to pronounce the verdict in the 18-year-old disproportionate assets case against her, Tamil Nadu Chief Minister Jayalalithaa is making preparations to present herself before it today.

Jayalalithaa has been charged with accumulating Rs 66 crore wealth disproportionate to known sources of her income from 1991-96 in her first term as Chief Minister in the case that has seen many political and legal twists and turns. Her close aide Sasikala Natarajan, her niece Ilavarasi and her nephew and Jayalalithaa's disowned foster son Sudhakaran are others listed as accused in the case.

Former State Bank of India (SBI) chairman OP Bhatt on Friday said while the investor sentiment would be impacted by the recent Supreme Court ruling on coal blocks, the move was aimed at cleansing the system.

“What was not fully right has now been cleansed to see such mistakes will not be there in the future,” he said.

Hyundai Motor Co and its two affiliates approved Asia’s biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul.

The Hyundai-led group — which includes Kia Motors Corp and Hyundai Mobis Co — agreed to the price, more than triple the appraised amount, prompting a sharp sell-off in the companies'’shares.

The Delhi High Court on Friday questioned why Facebook Inc is not paying any service tax when Google is doing so and directed the Centre to file a “better affidavit” on the issue.

How is Google paying (service tax), but not Facebook? How is Facebook exempted? We are finding it difficult to understand, a bench of justices Badar Durrez Ahmed and Siddharth Mridul said. The bench also asked whether the government was “alive” to the issues of sale of data by social media sites as well as the service of targeted advertisement provided by them.

Bharatiya Janata Party (BJP) vice-president and general secretary Ram Madhav said here today that the country's economic development, internal security and defence were the key issues in India-US relations.

Firstly, Prime Minister Narendra Modi is working overtime for grassroots economic development of India. He is trying to engage with the outside world in order to get support for his initiatives in India. So, I foresee some discussion and progress on economic relations front. Secondly, internal security, homeland security, India's concerns with regard to terrorism is another area in which both the countries can have greater cooperation.

The recent 1,000 point correction in the S&P BSE Sensex from its record high has seen 109 stocks from BSE-500 index hit their respective three-month low level.

Reliance Industries, Hindalco Industries, Tata Steel, Larsen and Toubro, BHEL, DLF, Tata Power Company, Reliance Infrastructure, Cairn India and Reliance Capital are among few notable shares touched three-month low on BSE during the current week.

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