In The Headlines: EC cancels upcoming Anantnag bypoll

The Election Commission has cancelled the May 25 Anantnag Lok Sabha bypoll, citing poor law and order situation and lack of adequate central forces. Earlier, the EC had planned to hold the bypoll on April 12 but had postponed it to May 25, citing similar problems in the Kashmir Valley. The bypoll was necessitated following the resignation of Mehbooba Mufti in July last when she became the chief minister of Jammu and Kashmir. The EC said it had also considered postponing the polls to another date but it was not a feasible option.

India to Turkey: Kashmir is a bilateral issue between India and Pakistan

In a clear message to visiting Turkish President Recep Tayyip Erdogan, who had advocated a multilateral dialogue to resolve Kashmir issue, India asserted that it is a Indo-Pak bilateral matter, essentially due to cross-border terrorism. The virtual rejection of Erdogan's suggestion came in the course of his discussion with Prime Minister Narendra Modi, during which the two countries held that "no intent or goal or reason or rationale can validate terrorism" and decided to work together to deepen cooperation, both bilaterally and multilaterally, to effectively counter this menace.

Sensex reclaims 30,000-level

BSE benchmark Sensex recouped over 134 points to trade above the 30,000-mark in early trade on Tuesday on the back of widespread gains triggered by encouraging corporate earnings. The 30-share index rose by 134.33 points, or 0.44%, to 30,052.73. The gauge had lost 214.95 points in the previous two sessions. The Nifty also advanced 37.75 points, or 0.40%, to 9,341.85. Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong auto sales data in April month amid a mixed trend at other Asian bourses.

CORE INDUSTRIES GROW BY 5% IN MARCH

The eight core industries grew by 5% in March, fastest in three months, on the back of higher coal and steel production. The growth rate of eight infrastructure sectors—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity—was, however, lower than 9.3% recorded in March last year. As per the government data released on Monday, coal production increased by 10% in March as against 2.5% a year ago.

PETROL, DIESEL PRICES TO BE REVISED DAILY

Petrol and diesel prices will be revised on a daily basis from Tuesday in select towns in sync with international rates, much like it happens in most advanced markets. State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), which own more than 95% of the nearly 58,000 petrol pumps in the country, will launch a pilot for daily price revision in five select cities and gradually extend it to other parts of the country.

MACRON: EU MUST REFORM OR FACE 'FREXIT'

The front-runner in the French presidential election has told the BBC that either the European Union should reform or face “Frexit”. Pro-EU centrist Emmanuel Macron made the comments as he and his far-right rival Marine Le Pen entered the last week of campaigning. French voters go to the polls on Sunday to decide between the pair.

$1-TRILLION BUDGET DEAL IN US, NO MONEY FOR BORDER WALL

The US Congress is expected to vote early this week on the $1-trillion budget agreement which is expected to include increases for defence spending and border security. No money will be allocated for Trump’s pet project of a border wall with Mexico after he bowed to Democratic resistance to the plan.