A stake sale in LIC through a public offering of shares will help the govt bolster its finances after the pandemic stalled growth and threatens the fiscal deficit target of 3.5% of GDP set for the year ending March 2021 (Photo: Mint)
A stake sale in LIC through a public offering of shares will help the govt bolster its finances after the pandemic stalled growth and threatens the fiscal deficit target of 3.5% of GDP set for the year ending March 2021 (Photo: Mint)

Govt plans to sell 25% stake in LIC in phases

  • Govt is planning to seek cabinet’s approval to sell 25% stake in LIC to plug a widening budget gap
  • The timing of the insurer’s initial public offering will be depend on market conditions, and the sale is likely to be done in tranches

WPP handles clients such as fast-moving consumer goods firm ITC Ltd, telecom firm Vodafone, and Hero MotoCorp Ltd, among others.
WPP handles clients such as fast-moving consumer goods firm ITC Ltd, telecom firm Vodafone, and Hero MotoCorp Ltd, among others.

ITC’s FMCG biz outlook promising, but investors not biting into it yet

  • Lower profit margins of the FMCG segment means that on an overall basis, it doesn’t move the needle for ITC and this is a dissuading factor for investors. In FY20, FMCG Ebit margin was 3.3% compared with 67% for cigarettes business

Reliance Industries chairman Mukesh Ambani.mint (MINT_PRINT)

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Dr Balram Bhargava, Director General, ICMR (Indian Council of Medical Research) briefs media over COVID-19, in New Delhi on Tuesday. (ANI Photo)
Dr Balram Bhargava, Director General, ICMR (Indian Council of Medical Research) briefs media over COVID-19, in New Delhi on Tuesday. (ANI Photo)

One in every 15 exposed to Covid-19 by Aug: ICMR on second sero-survey result

  • The ministry says ICMR's second Sero Survey report reveals that a considerable population still vulnerable to Covid-19
  • However, the recovered cases of novel coronavirus in India today crossed 51 lakh-mark, the highest in the world, said government

Reliance Industries' Jio telecoms unit (REUTERS)
Foreign grants received by NGOs are regulated by the Foreign Contribution (Regulation) Act, 2010, or FCRA.
The company that makes Sonalika tractors has been in discussions with investment banks for the past few months and is currently in the process of hiring banks for handling the IPO process. Photo: Bloomberg
The company that makes Sonalika tractors has been in discussions with investment banks for the past few months and is currently in the process of hiring banks for handling the IPO process. Photo: Bloomberg

Sonalika Tractors founder at 164 on Hurun India Rich List

  • The manufacturer, with a net wealth of 7,700 crore is ranked 164th on Hurun India Rich List
  • The top spot on the list was retained by Chairman of Reliance Industries Limited Mukesh Ambani for the ninth consecutive year with 6,58,400 crore wealth

Mukesh Ambani tops he Hurun India Rich List for the ninth straight year (REUTERS)

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Cairn India is the erstwhile subsidiary of Cairn Energy which it sold to Vedanta in 2011. Photo: Bloomberg
Cairn India is the erstwhile subsidiary of Cairn Energy which it sold to Vedanta in 2011. Photo: Bloomberg

Cairn seeks nearly 10,300 crore in losses from retrospective tax demand

British oil explorer Cairn Energy Plc today said it is seeking from the Indian government $1.4 billion (about 10,300 crore) in losses arising from the expropriation of its investments to enforce a retrospective tax demand

These shell companies were reportedly using a front, We Purchase Apps, to buy legitimate apps, available on Google Play Store, from their developers to gain control over 125 apps with combined download of 115 million. Photo: Reuters
These shell companies were reportedly using a front, We Purchase Apps, to buy legitimate apps, available on Google Play Store, from their developers to gain control over 125 apps with combined download of 115 million. Photo: Reuters

Google makes Play Billings mandatory for in-app purchases from Sept 2021

Google on Tuesday said apps that choose to sell digital content through its Play Store have to use Google Play billing system and pay a percentage of the in-app purchase as fee

Serum Institute of India will mass produce the vaccine for low-income countries.reuters (MINT_PRINT)
Serum Institute of India will mass produce the vaccine for low-income countries.reuters (MINT_PRINT)

Serum Institute to produce additional 10 crore doses of covid vaccines

  • The expanded deal will accelerate manufacturing and delivery of safe and effective coronavirus vaccines, which has been priced at a maximum of $3 per dose
  • With an additional $150 mn funding, the total funding provided through this collaboration reached to $300 mn

Shriram Transport Finance expects that it would be able to collect repayments from 90% of its customers by the end of this month. (Mint)
Shriram Transport Finance expects that it would be able to collect repayments from 90% of its customers by the end of this month. (Mint)

Unlocking brings cheer for Shriram Transport investors, but some worries persist

  • The company is betting on its rural reach and exposure to help it overcome the impact of the pandemic and early signs of a pick-up in tractor sales and the improvement in other commercial vehicles sales point to a faster recovery

Between 1983 and 2010, Texan health authorities have attributed 28 deaths to the amoeba Naegleria fowleri - Representative image (REUTERS)
Between 1983 and 2010, Texan health authorities have attributed 28 deaths to the amoeba Naegleria fowleri - Representative image (REUTERS)

Texas on alert after brain-eating amoeba kills 6-year-old boy

The amoeba enters the body through the nasal membranes and penetrates to the brain, causing powerful migraine, hyperthermia, stiff neck and vomiting, then dizziness, extreme fatigue, confusion and hallucinations

Ashok Soota, executive chairman, Happiest Minds Technologies. (MINT_PRINT)
Prime Minister Narendra Modi (PTI)
This spyware is designed to steal SMS messages, contact lists, and device information along with silently signing up the victim for premium services. Photo: iStock
This spyware is designed to steal SMS messages, contact lists, and device information along with silently signing up the victim for premium services. Photo: iStock

Google Play Store removes 17 apps infected with malware: Check if you have any

  • Joker is one of the most prominent malware families that continually targets Android devices
  • Despite awareness of this particular malware, it keeps finding its way into Google’s official application market by employing changes in its code

The counting of the votes will be held on 10 November
Customers who are keen to enjoy the SIA in-flight dining experience in the comfort of their own home. They can choose from 10 menus featuring in exclusive First Class and Business Class meals.
Customers who are keen to enjoy the SIA in-flight dining experience in the comfort of their own home. They can choose from 10 menus featuring in exclusive First Class and Business Class meals.

Restaurant A380: Airline offers dining experience inside Airbus Superjumbo

  • Diners can chose to get a dining experience inside the Airbus A380, the world’s largest passenger aircraft
  • A tour of the aircraft will be available before lunch and customers will be able to watch the inflight entertainment channels during their meal

Ambala: Air display of the first batch of IAF�s Rafale fighter aircraft during its induction ceremony, in Ambala, Thursday, Sept. 10, 2020. (PTI Photo/Manvender Vashist)(PTI10-09-2020_000154B) (PTI)
Ambala: Air display of the first batch of IAF�s Rafale fighter aircraft during its induction ceremony, in Ambala, Thursday, Sept. 10, 2020. (PTI Photo/Manvender Vashist)(PTI10-09-2020_000154B) (PTI)

IAF chief says no war, no peace situation along India-China border in Ladakh

  • Tensions between New Delhi and Beijing have been simmering since May when India first detected multiple Chinese military intrusions into Ladakh. There was also major military buildup across the border inside Chinese territory

Amara Raja, which makes automotive and industrial batteries, said the growth was powered by demand for automobile battery replacements. Photo: Mint
Students stand in for U.S. President Donald Trump and Democratic U.S. presidential nominee and former Vice President Joe Biden as technicians prepare the stage for their first presidential debate on the campus of the Cleveland Clinic in Cleveland, Ohio, U.S. September 28, 2020.  REUTERS/Jonathan Ernst (REUTERS)
Students stand in for U.S. President Donald Trump and Democratic U.S. presidential nominee and former Vice President Joe Biden as technicians prepare the stage for their first presidential debate on the campus of the Cleveland Clinic in Cleveland, Ohio, U.S. September 28, 2020. REUTERS/Jonathan Ernst (REUTERS)

In presidential debate, a last chance for Doanld Trump to define Joe Biden

  • Sometimes Donald Trump paints Joe Biden as a far-left candidate; at other times he argues that while Biden is more moderate, he would be controlled by his party’s most liberal factions

The businessmen in Surat are facing difficulties due to shortage of workers in the city and so they have decided to call their employees back via flights. (ANI)
The businessmen in Surat are facing difficulties due to shortage of workers in the city and so they have decided to call their employees back via flights. (ANI)

No seats on bus, train; migrant workers return to Surat on flights

  • With unlock, the migrant workers, who had gone back to their native place have now started returning to Surat
  • But they are facing one problem - unavailability of train tickets from their states

SBI Card ELITE and SBI Card PRIME on American Express platform will come at a joining fee of  ₹4,999 and  ₹2,999 respectively.  (Photo: Aniruddha Chowdhury/Mint)
SBI Card ELITE and SBI Card PRIME on American Express platform will come at a joining fee of 4,999 and 2,999 respectively. (Photo: Aniruddha Chowdhury/Mint)

SBI Card joins hands with American Express to offer premium benefits, services

  • This alliance is another step in our efforts to bolster our premium portfolio, said Ashwini Kumar Tewari, MD & CEO, SBI Card
  • With this launch, SBI Card will have products across four networks

Most new housing projects are either unsold or delayed due to the coronavirus spreading in the country at the fastest rate in the world. (Mint)
Most new housing projects are either unsold or delayed due to the coronavirus spreading in the country at the fastest rate in the world. (Mint)

Property prices in Delhi, Mumbai set for bigger fall than in Chennai, Bengaluru

  • Most new housing projects are either unsold or delayed due to the coronavirus spreading in the country at the fastest rate in the world
  • Even before pandemic struck, house prices had declined nearly 1% during the January-March period from the previous quarter, according to RBI data

Ampoules containing a component of Russian covid-19 vaccine developed by the Gamaleya National Research Center for Epidemiology (Bloomberg)
Ampoules containing a component of Russian covid-19 vaccine developed by the Gamaleya National Research Center for Epidemiology (Bloomberg)

Covid vaccine: Russia may be the first to announce data from final trial

  • Russia has pushed ahead with its potential COVID-19 vaccine at top speed with mass public vaccinations alongside the main human trial
  • British drugmaker AstraZeneca launched a Phase III trial for its vaccine in May and has not yet disclosed any trends

Karnataka Education Minister S Suresh Kumar. (ANI)
REUTERS
SBI jobs: There are various vacancies for different posts. (PTI)
A heath worker draws the 'Gam-COVID-Vac', also known as 'Sputnik V', COVID-19 vaccine, developed by the Gamaleya National Research Center for Epidemiology and Microbiology and the Russian Direct Investment Fund (RDIF), from a vial during a post-registration phase trial at the City Clinic #46 in Moscow, Russia, on Wednesday, Sept. 23, 2020. The Russian Direct Investment Fund will sell 32 million doses of Sputnik V to Mexico, with deliveries starting in November, the sovereign wealth fund said in a statement. Photographer: Andrey Rudakov/Bloomberg (Bloomberg)
A heath worker draws the 'Gam-COVID-Vac', also known as 'Sputnik V', COVID-19 vaccine, developed by the Gamaleya National Research Center for Epidemiology and Microbiology and the Russian Direct Investment Fund (RDIF), from a vial during a post-registration phase trial at the City Clinic #46 in Moscow, Russia, on Wednesday, Sept. 23, 2020. The Russian Direct Investment Fund will sell 32 million doses of Sputnik V to Mexico, with deliveries starting in November, the sovereign wealth fund said in a statement. Photographer: Andrey Rudakov/Bloomberg (Bloomberg)

Russia to supply 2.5 crore doses of covid vaccines to Nepal

  • Russia will supply covid vaccines to Nepal via Trinity Pharmaceuticals, which it described as a private healthcare firm and key distributor there

Photo: Mint
Indian markets have run up by almost 50% since the March lows, in sync with global markets.
SBI: You can check the balance online through internet or mobile banking. (Mint)
Video streaming services like Netflix, Amazon Prime Video, Hotstar and many others still see their users facing problem in discovering content. Photo Imaging: Kishore Rawat
Video streaming services like Netflix, Amazon Prime Video, Hotstar and many others still see their users facing problem in discovering content. Photo Imaging: Kishore Rawat

Emerging platforms can help you choose what to watch on Netflix, Amazon

  • One VoD platform may throw up recommendations based on what you’ve watched on it, but the algorithm gets messed up when the same account is being mooched by multiple users, as is often the case in India

Congress General Secretary Priyanka Gandhi Vadra. (ANI)
A file photo of the Amnesty International India headquarters in Bangalore. (AP)
A file photo of the Amnesty International India headquarters in Bangalore. (AP)

Amnesty International halts India operations, says faces harassment

  • Human rights group Amnesty International said it is stopping its work in India because the government has frozen its bank accounts
  • 'The organisation has been compelled to let go of staff in India and pause all its ongoing campaign and research work,' the group said in a statement

The rupee today rose 34 paise to 69.43 against the US dollar. Photo: Mint
The rupee today rose 34 paise to 69.43 against the US dollar. Photo: Mint

Remittances lead to more robberies and thefts

Apart from lifting local incomes, remittances can also increase non-violent crime in a region, a study finds. Violent crimes come down, though

CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai. (REUTERS)
CCTV cameras are seen installed above the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai. (REUTERS)

RBI extends enhanced borrowing limit for banks under MSF till 31 March

The facility which was initially available up to June 30 was later extended up to September 30 due to economic disruptions caused by the COVID-19 pandemic and subsequent lockdown

VRL, which owns 50.1 per cent of Vedanta, offered to acquire all of the balance 49.9 per cent shareholding held by the public and delist the company.
VRL, which owns 50.1 per cent of Vedanta, offered to acquire all of the balance 49.9 per cent shareholding held by the public and delist the company.

Vedanta gets in-principle nod for delisting from BSE, NSE

  • Post approval, the company's parent Vedanta Resources (VRL) and its subsidiaries issued a public announcement with regard to the delisting offer

If the deal fructifies, it will be the country’s largest deal in the retail space ever, eclipsing Walmart’s own May 2018 purchase of a 66% stake in Flipkart for $16 billion.
If the deal fructifies, it will be the country’s largest deal in the retail space ever, eclipsing Walmart’s own May 2018 purchase of a 66% stake in Flipkart for $16 billion.

Walmart looks to join hands with Tata group in retail push

  • Walmart may buy a stake in Tata’s super app for up to $25 bn
  • The super app, which is likely to be launched in Dec-Jan, will bring together Tata’s consumer biz under one channel

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