Morning Digest | Japan PM Kishida's coalition keeps majority in election; PM Modi describes G20 summit as "fruitful", and more

A select list of stories to read before you start your day

Japan PM Kishida’s coalition keeps majority with fewer seats

Japanese Prime Minister Fumio Kishida’s coalition kept a comfortable majority in the October 31 parliamentary election despite losing some seats as his weeks-old government grapples with a coronavirus-battered economy and regional security challenges.

Prime Minister Kishida’s Liberal Democratic Party and its junior coalition partner Komeito together won 293 seats, well above the majority of 233.

G20 Summit ‘fruitful’: PM Modi

Prime Minister Narendra Modi on Sunday described the just-concluded G20 Summit in Rome as "fruitful" and said world leaders had elaborate deliberations on issues of global importance such as fighting the pandemic, improving health infrastructure, boosting economic cooperation and furthering innovation.

U.N. chief says G20 didn’t meet his climate hopes

U.N. Secretary-General Antonio Guterres has given a mixed verdict on the climate change agreements reached at the Group of 20 summit, saying he hopes for more ambitious commitments to be made at the United Nations climate conference in Glasgow.

Tensions rise over caste split of MGNREGA wages

For poor villagers in Rajasthan’s Ajmer district, a good Diwali depends on their wages from the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme, so tensions were high when some got paid faster than others for work done over the last six months.

Similar concerns have been raised by grassroots activists and union leaders in a number of States including Jharkhand, West Bengal, Bihar, Karnataka, Telangana and Tamil Nadu after a Central directive to split MGNREGA budget for wage payments along caste lines was issued on March 2.

Informal sector shrank sharply in 2020-21: SBI report

Signalling a greater shift towards formalisation of the economy, the share of the large informal sector in overall economic activity dipped sharply in 2020-21 even as informal workers continue to bear the brunt of the pandemic’s adverse effects, the SBI said in a research report.

Three women Naxals killed in Dantewada encounter

Three women Naxals, collectively carrying ₹15 lakh reward on their heads, were killed in an encounter with security forces in Chhattisgarh’s Dantewada district on Sunday, a police official said.

Navy takes delivery of guided missile destroyer Visakhapatnam

The first ship of the four Project-15B state-of-the-art stealth guided missile destroyers, Visakhapatnam, being built at the Mazgaon Docks Limited (MDL), was delivered to the Navy last Friday. Delayed by three years, the ships will be commissioned very soon.

U.K.-France spat deepens despite Macron and Johnson talk

French President Emmanuel Macron and British Prime Minister Boris Johnson stuck to rival positions Sunday in their countries’ post-Brexit dispute over fishing in the English Channel, with France maintaining its threat to impose sanctions starting Tuesday that could include a blockade of British boats.

China grapples with challenges of slowing economy, outbreaks

China’s government is grappling with twin challenges of weaker-than-expected economic growth and fresh COVID-19 outbreaks, just as the country’s leadership prepares for a key Communist Party conclave next week.

After months of a strong recovery, China’s factory activity in October slowed, the second straight monthly contraction, as the economy reels from a power crisis, the fallout from troubles plaguing a highly leveraged real sector, and increasing costs of raw materials.

T20 World Cup | Indian batters fail to fire again, surrender to New Zealand

India went from bad to worse as another batting display saw it suffer a humiliating defeat against New Zealand in its ICC T20 World Cup match at the Dubai International Stadium on Sunday.

After the Men in Blue finished with a sub-par total — 110 for seven — the Black Caps eased to an eight-wicket win with 33 balls to spare.

T20 World Cup | All-round Afghanistan beat Namibia by 62 runs

Pacers Hamid Hassan and Naveen-ul-Haq shared six wickets between them in impressive bowling spells as Afghanistan crushed Namibia by 62 runs in their Super 12 match of the T20 World Cup here on Sunday.

Opting to bat, Afghanistan posted 160 for five thanks to handy contributions from Hazratullah Zazai (33), Mohammad Shahzad (45), Asghar Afghan (31) — who was playing his last international match — and Mohammad Nabi (32 not out).

With the ball, the Afghans restricted Namibia to 98 for nine for their second win in the tournament.

It’s time to pay attention to ETFs

In these times, there’s one investment idea that is steadily gaining attention. That’s passive investing, where one invests in an index — such as the Sensex or the Nifty 50 — to earn the same return that the index does. Within passive investing, Exchange Traded Funds or ETFs are gaining so smartly so that it’s perfectly possible to build a good, diversified portfolio with just ETFs.

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