Top News on August 8: Q1 results, Waqf Bill row, hockey team wins Olympic bronze, Bangladesh govt formation and more

Several leading companies — including LIC, Biocon and Rail Vikas Nigam Ltd — released their first quarter results on Thursday as politicians tussled over the Waqf Amendment Bill in Parliament. India remained optimistic about its Olympic chances on Thursday as the hockey team secured a bronze medal and Neeraj Chopra hoped to secure yet another gold. Meanwhile Bangladesh began a gradual return to normalcy as Nobel laureate Muhammad Yunus reached Dhaka to take over the reigns of government.

Here are the top stories of the day:

India wins hockey bronze, eyes javelin gold
The Indian men's hockey team clinched its second successive Olympic bronze medal after beating Spain 2-1 on Thursday. Skipper Harmanpreet Singh scored a brace for India, while Spain's only goal was scored by captain Marc Miralles through a penalty stroke.

Star javelin thrower Neeraj Chopra is also set to compete for another gold medal later on Thursday. The World Championships gold medalist is hoping to repeat his Tokyo 2020 heroics to retain his title at the ongoing Olympic Games.

Q1 results
The Life Insurance Corporation of India reported a 10% rise in its net profit to ₹10,461 crore during the June 2024 quarter. Meanwhile the state-owned Rail Vikas Nigam Ltd posted around 35% fall in consolidated net profit to ₹223.92 crore during the June quarter of FY25 — mainly on account of reduced income.

Introduction of Waqf Bill
The Waqf (Amendment) Bill, 2024 seeks to clearly define "waqf" as waqf by any person practising Islam for at least five years and having ownership of such property and ensure that creation of Waqf-alal-aulad does not lead to the denial of inheritance rights to women. It also seeks to omit the provisions relating to the "waqf by user", provide the functions of the Survey Commissioner to the Collector or any other officer not below the rank of Deputy Collector duly nominated by the Collector for the survey of waqf properties, provide for a broad-based composition of the Central Waqf Council and the State Waqf Boards and ensure representation of Muslim women and non-Muslims.

Bangladesh Turmoil
Muhammad Yunus took over the reigns of the Bangladesh government on Thursday evening alongside a 16-member Cabinet. The interim government will now work to restore peace and call for elections in the coming months. Bangladesh has been rocked by violence following protests led primarily by students demanding an end to a quota system for government jobs. Prime Minister Sheikh Hasina had resigned on Monday and fled to India where she currently remains.

(With inputs from agencies