Live news updates: After being deferred by over a fortnight, the National Stock Exchange International Financial Service Centre (IFSC) SGX Connect is set to be launched today by Prime Minister Narendra Modi. With this, the NSE and Singapore Exchange (SGX) are set to bring SGX Nifty trading at Gujarat International Finance Tec-City (GIFT City). The inauguration, which was supposed to happen on July 15, was postponed due to flood situation in Gujarat. The NSE IFSC-SGX Connect, which has been in the works for over four years, will route trading in Nifty derivatives contracts that take place in Singapore to India through the Gift City IFSC.
The Supreme Court has agreed to hear today a plea challenging the amended law allowing extension of tenure of the director of the Enforcement Directorate (ED) up to five years, and the Centre's decision to grant one year extension to Sanjay Kumar Mishra as head of the probe agency. A bench headed by Chief Justice N V Ramana took note of the submission of senior lawyer Basava Prabhu Patil that the plea of Saket Gokhale, a leader of the All India Trinamool Congress, needed to be listed for an urgent hearing.
Chinese state media said Xi told Biden that the US should abide by the 'one-China principle' and stressed that China firmly opposed Taiwanese independence and interference of external forces. US President Joe Biden and Chinese President Xi Jinping held a fifth call as leaders on Thursday, and Xi warned against "playing with fire" over Taiwan, as concerns mounted over a possible visit to Chinese-claimed island by U.S. House Speaker Nancy Pelosi.
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