Newsmakers: NDA removes land bill changes, Greek stocks plunge and more

Modi govt does u-turn, to drop controversial amendments in land bill

The government will  withdraw  all the amendments it had made to the law passed in 2013 by the previous Congress-led government. That move  is based on the recommendations of  parliamentary committee which studied the proposal.

It will now be upto individual states to pass their own laws for business-friendly land reforms, a Plan B mooted earlier this month by Finance Minister Arun Jaitley.

Factory growth speeds to six-month high in July: Purchasing Managers' Index

The manufacturing activity expanded at its fastest pace in six months in July as new export orders accelerated, a business survey showed on Monday.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by Markit, rose to 52.7 in July from June's 51.3, bucking weakness seen across much of the rest of Asia. The 50-mark demarcates contraction from expansion.

IMD sees monsoon rains at 84% during Aug-Sept

The  India Meteorological Department (IMD)  retained its forecast for this year's monsoon rains at 88 per cent of the long-period average, the weather office said  on Monday, adding the El Nino weather pattern could strengthen during the rest of the season.

Monsoon rains are expected to be 84 per cent of the long average in the August-September period, IMD said.

Supreme Court pulls up Sahara Chief Subrata Roy

Jailed Sahara Group chief Subrata Roy's plea for his release on humanitarian grounds on Monday evoked a sharp reaction from the Supreme Court which said the Sahara chief was in are in jail by choice.

The judge also said, "You are in jail by choice" and referred to his earlier submissions when Roy had claimed that the group has sufficient assets to pay the investors.

Greek stock market plunges 23% after 5-wk shutdown

Greece's stock market fell sharply on Monday after being shut down for five weeks under capital controls imposed by the government in Athens to stop a flight of euros from the country.

The main index ATG was down nearly 23 per cent in early trading. National Bank of Greece, the country's largest commercial bank, was down 30 percent, the daily limit.