Rumble in the cockpit as DGCA defers new duty and rest rules
Indian pilots, represented by FIP, oppose DGCA's delay in implementing new Rules on pilot duty citing safety concerns. Airlines push for individualized fatigue monitoring systems instead of uniform regulations for all carriers. Key Points
Economic TimesDGCA puts new Rules on pilot rest in abeyance
Airlines had raised concern saying that the new Rules force them to cancel up to 20% of flights which will inflate air fares during the peak summer travel season. Fares are already higher, according to online travel portals as almost 20% of the fleet of Indian airlines are grounded due to engine issues and financial crunch. Among the primary changes, the new Rules rewrite the definition of night period, extending it by an hour from 12 AM-5 AM to 12 AM- 6AM. Key Points
Economic TimesGovt proposes exempting certain M&A deals from Competition Comm approval requirement
Draft Rules to exempt certain categories of combinations from the Competition Commission of India (CCI) approval requirement have been issued by the corporate affairs ministry. Vaibhav Choukse, Partner & Head - Competition Law at JSA Advocates & Solicitors, said the draft Rules enlist certain kinds of M&A (Merger & Acquisition) transactions which will not require approval from the CCI. Key Points
Economic TimesMCA floats framework for public inputs in key rule changes; seeks public comments on Companies Act, LLP Ac
The Ministry of Corporate Affairs (MCA) has firmed up a policy framework for “pre-legislative consultation” relating to the framing of Rules and regulations under laws administered by it. It suggests the explanatory note and the proposed changes will have to be placed for stakeholder comments for at least 30 days. Key Points
Economic TimesIndia gets Rs 16.93 lakh cr investment in power, RE since 2014, Rs 17.05 lakh cr in pipeline
Rs 17.05 lakh crore investment in power and renewable energy sector; 80 GW thermal power generation capacity under construction; 99 GW renewable energy under construction; Rs 16.93 lakh crore invested in power and renewable energy sectors so far; Rs 7.4 lakh crore investment in power sector; India's power generation capacity to increase to over 800GW; new Rules allow consumers to establish transmission lines without license Key Points
Economic Times
India gets Rs 16.93 lakh crore investment in power, renewable energy since 2014, Rs 17.05 lakh crore in pipeline
India Business News: Discover how India has attracted a staggering investment of Rs 16.93 lakh crore in the power and renewable energy sectors since 2014, with an additional Rs 17.05 lakh crore in the pipeline. Learn about the significant increase in India's power generation capacity and the new Rules facilitating easy grid connectivity for bulk consumers and energy storage systems. Key Points
Times Of IndiaSweet pilot dreams may pinch fliers, says airline industry
New Rules by the Directorate General of Civil Aviation (DGCA), which come into effect from June 1, will need airlines to increase their pilot strength by 20% within three months or cut flights to conform to the rules. We all want to ensure safe flying, but the new Rules are incredibly limiting and an over-reaction. This will be disruptive as increasing the number of pilots in such a short time is practically impossible, the CEO of an airline said, asking not to be named. Key Points
Economic TimesAlign norms with Centre's labour codes: Govt to states
The Indian government is planning to encourage states to re-evaluate their Rules across four Labour Codes and align them with those notified by the union labour ministry to avoid legal issues and divergence. The move follows a study by the VV Giri National Labour Institute, which highlighted wide differences in Rules between central and state and union territories. Key Points
Economic TimesChina's LONGi jumps on probe into Hillhouse unit's stake transfer
Shares of LONGi Green Energy Technology (601012.SS) jumped on Thursday, after the company said an investment arm of Hillhouse was placed under regulatory probe for transferring shares of the company in violation of rules. Key Points
ReutersGovt tightens LLP rules; partners have to declare beneficial interests, intangible contributions
According to the Limited Liability Partnership (Third Amendment) Rules, 2023, notified by the Ministry of Corporate Affairs (MCA), even upcoming LLPs have to maintain such a register, at their registered offices, within 30 days of incorporation. The new Rules came into force on October 28. Key Points
Economic Times
The EU’s Threats to Elon Musk Are Empty, Sources Say
European commissioner Thierry Breton warned X it could be fined for failing to control disinformation and illegal content. But critics say his threats lack teeth. Key Points
WIREDUS lawmakers press White House for tougher enforcement of China chip rules
Two senior Republican lawmakers in the U.S. House of Representatives on Friday pressed the Biden administration for tougher enforcement of export controls on sending advanced computing chips and the tools to make them to China. Key Points
ReutersUS curbs on chip tools to China nearly finalized, government posting shows
An updated rule curbing exports of U.S. chipmaking equipment to China is in the final stages of review, according to a government posting and a source, a sign the Biden administration is poised to soon tighten restrictions on Beijing. Key Points
ReutersExclusive: US warned China to expect updated export curbs in October-US official
The Biden administration warned Beijing of its plans to update Rules that curb shipments of AI chips and chipmaking tools to China as soon as early October, a U.S. official said, a policy decision aimed at stabilizing relations between the superpowers. Key Points
ReutersNew disability pension rules: Congress mobilises defence veterans
The Congress party plans to mobilize defense veterans to protest against the Indian government's newly notified disability pension rules. The party's Ex-Servicemen Department is in contact with various ex-servicemen's organizations to take legal action against the rules, possibly by moving the Supreme Court. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/BJQLSV5ASZJKNP24Y2O5EXXBAY.jpg)
US FCC chair proposes to restore net neutrality rules
U.S. Federal Communications Commission chair Jessica Rosenworcel on Tuesday said she would move quickly to reinstate landmark net neutrality Rules rescinded under former President Donald Trump. Key Points
ReutersGoldman, HSBC join forces with other banks on client disclosures
Goldman Sachs and HSBC (HSBA.L) are among a group of five banks adopting a common global approach to disclosing clients' stock positions, a move which participants say could help cut costs and bolster transparency. Key Points
ReutersUS private funds industry sues securities regulator over new rules
Six private equity and hedge fund trade groups on Friday sued the U.S. Securities and Exchange Commission (SEC), arguing the agency overstepped its statutory authority when adopting sweeping new expense and disclosure Rules last week. Key Points
ReutersNCST chairman Chouhan resigns eight months before end of term
Harsh Chouhan, chairman of the National Commission for Scheduled Tribes (NCST), has resigned from his position with eight months remaining in his term. This has resulted in the tribal rights body being left with only one member. Chouhan's resignation comes after a disagreement with the environment ministry over the Forest Conservation Rules 2022, which he believed violated the Forest Rights Act. Key Points
Economic TimesSEBI should retrospectively tighten FPI disclosure norms it was ‘forced to dilute’ to benefit Adani, claims Cong
The real question, he said, is “who is the owner of the Rs 20,000 crore that have been invested via shell companies in the Adani group. Only a JPC can bring out the truth of the Modani scam. We will continue to demand it,” he said. Key Points
The Indian Express
The Fight to Expose Corporations’ Real Impact on the Climate
Most carbon emissions caused by businesses are hidden from sight. US and California regulators are pushing to require companies fully disclose them. Key Points
WIREDYou’re leaving your job. What can you take with you—and how do you do it?
Not everything is fair game legally. It’s important to know the rules. Key Points
mintCentre notifies CAA Rules in big pre-poll decision
Government issues Rules for Citizenship (Amendment) Act, fast-tracking citizenship to non-Muslims from 3 countries. Critics link timing to upcoming elections. | Latest News India Key Points
Hindustan TimesIndian airlines shouldn't gamble with stricter safety if they want more business
Indian airlines need to embrace new Rules mandating longer breaks and shorter work hours for pilots. Delaying implementation could have consequences, as seen in past accidents. Ensuring passenger safety and comfort is crucial for the growth of the aviation industry. Key Points
Economic TimesGlobal tax deal: Large Indian companies check readiness, assess impact
The Pillar Two model Rules under Global Anti-Base Erosion Regulation have been crafted to ensure that large multinationals pay a minimum level of tax. They apply to companies that are members of a multinational group and have had annual sales of ₹750 million or more in the ultimate parent entity's consolidated financial statements for at least two of the four fiscal years before the tested year. Key Points
Economic Times
Govt asks social media firms to identify, remove misinformation, deepfakes within 36 hrs
The Indian government has issued an advisory to major social media companies to identify and remove misinformation, deepfakes, and other rule-violating content within 36 hours after being reported. This move follows the circulation of a deepfake video featuring actress Rashmika Mandanna on social media, prompting criticism from politicians and celebrities. Key Points
Economic TimesGovt notifies Rules for online gaming, to appoint multiple SROs
As per the final rules, the government will appoint multiple self-regulatory organisations (SROs) comprising industry representatives, educationists, and other experts such as child experts, psychology experts, etc. To begin with, the government will notify three SROs, but can add more later. Key Points
Economic Times