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7 Must Reads: Japan aims to double India investment; Narendra Modi visits school in Japan and more

Monday, 1 September 2014 - 9:37am IST | Agency: dna webdesk

#1 With Japan aiming to double India investment, here's why Japan needs India
Japanese Prime Minister Shinzo Abe will tell his Indian counterpart Narendra Modi at a summit on Monday that Japan aims to double its direct investment in India in five years from some $2 billion last year, the Nikkei business daily reported. Modi, on his first major foreign visit since a landslide election win in May, arrived on Saturday for a five-day trip aimed at capitalising on a personal affinity with Abe to bolster security and business ties in the face of an assertive China. Read more 

#2 Narendra Modi visits school in Japan, invites teachers to tech Japanese in India
Keen to upgrade the educational standards in India, Prime Minister Narendra Modi today visited a 136-year-old school here as a "student" to understand the academic system of Japan which could be replicated back home. He also invited teachers from here to teach Japanese language in India and proposed online courses amid his pitch for enhanced cooperation in languages and social values among the Asian countries to make the 21st Century truly that of Asia. Read more

#3 Justice Mudgal Committee to recommend expulsion of Chennai Super Kings from IPL?

Two-time champions Chennai Super Kings (CSK) is likely to be out of the Indian Premier League (IPL) circuit. dna learns that the Justice Mukul Mudgal committee, set up to look into IPL betting and match-fixing allegations, will so recommend to the Supreme Court on Monday (today). "How can one believe Srinivasan had no idea of what was going on inside the team dressing room and at the dug-out?" – A source close to Justice Mukul Mudgal committee probing betting allegations. Read more

#4 Policy Watch: In the realm of the unregulated, there's tremendous scope for misuse
India's legislators, often in connivance with self-serving bureaucrats, have a tremendous capacity for introducing businesses which are not covered by any legislation. With the benefit of hindsight, it is as if the legislators and bureaucrats actually permit scams. This was evident when India's regulators allowed money managers to take loans against government securities using the route of Bankers' Receipts (BRs). The only entry that existed was in the Subsidiary General Ledger (SGL) form in the Public Debt Office(PDO), with no provision for ensuring that the same instrument had not been offered as a security twice over, or even if the security offered for mortgage was genuine in the first place. The result: fake BRs flooded the market during the Harshad Mehta era, allowing more money to be lent out than the actual securities would have warranted. Read more 

#5 Why is it getting difficult to defeat the Islamic State fighters
After their lightning takeover in June, flag-waving Islamic State militants paraded through the captured Iraqi city of Mosul in looted US-built Humvees, armored cars and pickup trucks mounted with heavy machine guns. Today, many have ditched military-type vehicles that could make them easy targets of US air strikes, and try to blend in with residents, say witnesses. While still terrifying, they are now a far more discreet force. Read more 

#6 Pakistan protests escalate as Nawaz Sharif remains surrounded by protesters; army chiefs hold emergency meeting
Pakistan's powerful army said on Sunday any further use of force to resolve an escalating political crisis would only worsen the situation, after weeks of protests demanding Prime Minister Nawaz Sharif's resignation turned violent. Peaceful anti-government demonstrations spilled over into deadly confrontation overnight after thousands of protesters tried to storm Sharif's residence. Police responded with teargas and rubber bullets. At least three people were killed and more than 200 wounded, further angering protest leaders. Read more 

#7 'Guardians of the Galaxy' becomes top-grossing US film of 2014
The "Guardians of the Galaxy" misfits reached a new box office stratosphere over the United States Labor Day weekend, soaring past fellow Marvel hero "Captain America" to become the highest-grossing domestic movie of 2014. "Guardians" rang up $16.3 million in US and Canadian ticket sales from Friday through Sunday, topping weekend charts for the third time since its August 1 debut, according to estimates from tracking firm Rentrak. Total domestic sales climbed to $274.6 million, surpassing the $259.8 million earned by April release, "Captain America: The Winter Soldier." Read more

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