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- The K.S. Valdiya committee in its report submitted to the Union Water Resources Ministry has concluded that Saraswati River so far considered mythical, existed. The committee comprising of geologists, archaeologists and hydrologists say that they have found evidence of the course of the river Saraswati. It was found that the Saraswati River originated in the Himalayas. It was approximately 4,000 km in length and flowed through India and Pakistan before meeting Arabian Sea through the Rann of Kutch.
- Russian consortium led energy giant Rosneft Oil Company has agreed to acquire India’s second biggest private oil firm Essar Oil in an all-cash deal valued at about US $13 billion.
- British Prime Minister Theresa May will lead a delegation of small and medium-size businesses to India in November as part of efforts to bolster trade with countries outside the European Union as Britain prepares to leave the bloc. The Nov. 6-8 trip, Ms. May’s first bilateral visit to a country outside Europe since she took office in July, will be in pursuit of her ambition of forging a new global role for Britain after it leaves the European Union.
- A village panchayat in Bihar’s Aurangabad district has banned the sale and purchase of Chinese goods in protest against China’s support to Pakistan after India carried out surgical strikes on terrorist launchpads across the Line of Control. The panchayat in the village of Obra has resolved to fine those who violate the order. The decision was taken a week back during a meeting attended by villagers and village committee members. There are over half-a-dozen villages with a total population of about 10,000 people in the panchayat.
- Chennai-based Basil Energetics is ready to launch an electric bicycle, iZip, in Hyderabad by the end of this month. iZip can travel at a top speed of 20 km per hour. The cycle, which weighs 35 kg, can travel for 25 km per each full charging. The batteries can be charged in 90 minutes using either solar energy or power from the gird.
- The authorities restored pre-paid cellular telephony in Kashmir Valley after a 98-day-long suspension in the wake of civilian unrest sparked by militant commander Burhan Wani’s killing on July 8.
- Prime Minister Narendra Modi and Chinese President Xi Jinping discussed India’s hopes for membership of the Nuclear Suppliers Group at a bilateral summit ahead of the eighth BRICS summit.
- India and Russia sealed a deal on ‘information security’ aimed at countering terrorism, drug trafficking and other illegal cross-border activities.
- ITC Ltd has sold its entire stake in its U.S. subsidiary, engaged mainly in cigarette distribution, for $24 million. The divestment is subject to regulatory approvals and customary closing conditions.The sale agreement was signed on October 8 and is expected to be completed by November 2016. The buyer is Premier Manufacturing Inc., U.S.
- The Centre will soon set up a Rs.2,000 crore credit guarantee fund to support start-ups. The announcement was made by the Secretary of the Department of Industrial Policy and Promotion (DIPP), Ramesh Abhishek.
- Uber has signed an agreement with the Ministry of Electronics and IT to use Common Services Centers (CSCs) to impart skills training to drivers.
- India suffered a loss of almost a billion dollars over the past year due to temporary Internet shutdowns in the country – more than any other country during the same period, according to a recent study by research firm Brookings. The study, which examined such shutdowns in 19 countries over the past year, found that in India there were 22 such disruptions, totalling to about 70 days.
- World No. 1 Novak Djokovic suffered a shock loss to Spaniard Roberto Bautista Agut, while Andy Murray beat France’s Gilles Simon in the Shanghai Masters semifinals.
- Yuki Bhambri made the semifinals of the $25,000 ITF men’s Futures tennis tournament at Houston, USA.