Cricket’s debut at this year’s Asian Games suffered a severe setback with India pulling out of the event.
The Board of Control for Cricket in India on Tuesday decided against sending either the men’s or the women’s teams to the November 12-27 Games in the Chinese city of Guangzhou, citing international commitments.

The BSE Sensex briefly fell to 16,400 on Tuesday as the stock price of Reliance Industries — the biggest company on the index — plunged to Rs 840.55 a share or a fall of almost 20 per cent. RIL’s stock, and the index, recovered almost immediately. It turned out to be a ‘freak trade’. It seems that instead of Rs 1,040.55 a share, the trader punched in Rs 840.55. There is a possibility that the trader punched in the price for ICICI Bank by mistake.

The transfers of IPS officers in the state on Tuesday turned out to be an exercise in cleaning up the system of controversial officers as well.
Some officers who had come under a cloud recently have been shunted from executive postings to what is generally termed as “side postings” or “punishment postings” in the force.

The Sensex plunged nearly 400 points as the figures for manufacturing across the globe were down, denoting a global slowdown.
China’s official purchasing managers’ index, which indicates the health of the manufacturing sector, was also down to 53.9 in May from 55.7 in April. The rupee hit a one-week low of 47.12 against the dollar because of a combination of a weak euro and the fall

A week after the arrest of Abdul Samad Bhatkal from Mangalore, the Anti-Terrorism Squad has not managed to find any substantial evidence against him to nail him in the Pune blast case. Ironically, when he was arrested, he was touted as a “prize catch” in the Pune blast, but on Tuesday, the ATS in its remand application filed in court

A combination of international uncertainty, economic problems and strong demand from consumers has pushed gold prices to a new record. On Tuesday, gold prices in Delhi shot past Rs 19,000/10 gm. In Mumbai, gold prices closed at Rs 18,840/ 10 gm. Silver prices were also up in the day’s trade.

Tighter norms for offshore drilling — almost a certainty after the Gulf of Mexico disaster — may hit Chennai-based drilling major Aban Offshore.
This would be a double hit for the company which had lost Aban Pearl — a drilling ship — in Venezuela last month to an accident.

India A skipper Cheteshwar Pujara feels that the triangular series against England and the West Indies in UK will provide great exposure to his young side.
“It’s a great opportunity for the youngsters to travel and play matches in the UK. Whoever performs can get a chance to make it to the senior team. Playing away is always a challenge, as we are not used to such conditions. It will be an experience,” said Pujara at the pre-departure press conference here on Tuesday.

The city witnessed two different incidents of murder for relatively petty reasons on Monday.

Mumbai has a new commissioner of police, after the state appointed additional director-general (special operations) Sanjeev Dayal, a 1977 batch IPS officer, to the post on Monday.