-PTI Employees of public sector banks have gone on two-day nationwide strike today opposing banking sector reforms and outsourcing of non-core activities, affecting operations. Several private sector banks, foreign banks and ATMs, however, continued to operate normally. The strike call was given by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks. They are protesting against banking sector reforms and unilateral implementation of...

-The Economic Times A change in the national accounts, slated to take place sometime in the next two years, will show that a resurgent farm sector is now the second biggest contributor to the economy, displacing manufacturing and financial services. The unexpected reversal is not just a statistical artefact. Instead it is an outcome of a change in the terms of trade, the price of agricultural produce compared to industrial output since...

-The United Nations The United Nations health agency today applauded the decision by Australia’s High Court to dismiss a legal challenge from the tobacco industry targeting the country’s new restrictive tobacco marketing laws. In a statement strongly welcoming what she called a “landmark” ruling, World Health Organization (WHO) Director-General Margaret Chan called on other countries to follow Australia’s example and adopt an equally tough stance on tobacco marketing. Australia is now on track...

-The Economic Times The government may ban wheat exports by private traders under open general licence despite having enough stocks to feed the country for two years due to concerns about high global prices and the drought-like situation back home that has triggered a 20% rise in wheat futures in a month. "There are chances that private traders may divert all the available wheat in the market -- released at subsidised rates...

-The Economic Times The Research and Analysis Wing (RAW), India's overseas intelligence agency, has told the Central Bureau of Investigation and the Enforcement Directorate that it has unearthed hawala transactions allegedly linked to former telecom minister A Raja.  RAW has written to the investigative agencies - the communication was sent at the end of July - asking them to take "necessary action", a top government official told ET on condition of anonymity.  The...