Cyclone Vayu Won’t Hit Gujarat, Changes Course Overnight

  • Cyclone Vayu will not hit Gujarat as it has changed its trajectory overnight and moved further into the sea, the weather department has said. 
  • Flight operations at airports in Porbandar, Diu, Bhavnagar, Keshod and Kandla have been suspended for 24 hours. 
  • However, the western coast continues to be on high alert as strong winds and rough seas are expected for the next 24 to 48 hours. 
  • Over three lakh people were evacuated from coastal Gujarat and the Union Terriroty of Diu on Wednesday. 

FDI flows to India grew 6% in 2018 to $42 bn: UN report

  • The World Investment Report 2019, released by the UN Conference on Trade and Development (UNCTAD) June 12, said global FDI flows slid by 13 per cent in 2018 – the third consecutive annual decline.
  • However, FDI to India grew by 6 per cent to $42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities, according report. 
  • The UN report ranked India among the top 20 host economies for FDI inflows in 2017-18. 

India’s industrial growth recovers, CPI inflation up

  • Industrial activity rebounded in April 2019 to grow to a six-month high of 3.4%, driven by a turnaround across all the sectors measured, according to official data released on Wednesday. 
  • Separate data release showed retail inflation in May 2019 accelerated marginally to 3.05% driven by a slight rise in food price inflation. 

Hong Kong shuts offices for the week after worst-ever violence over extradition bill

  • Hong Kong authorities were shutting government offices in the city’s financial district for the rest of the week after a day of violence over an extradition bill that would allow people to be sent to mainland China for trial.
  • Police fired rubber bullets, tear gas and pepper spray in a series of skirmishes on Wednesday to clear demonstrators from the city`s legislature.