(Photo: Sunit Arora/Mint)
(Photo: Sunit Arora/Mint)

Why business has its back to the wall

  • Steps are needed to get businesses to invest, banks to lend, consumers to spend, and taxman to be circumspect
  • While the problem of mounting unserviceable debt has dragged on for several years, a slew of steps announced by Modi govt, ostensibly to clean up the system, further added to the uncertainty

India is looking to achieve what Tesla has done at its Gigafactory in Nevada, US (Photo: Reuters)
Sensex was up around 300 points in noon trade (Reuters)
The bank is renovating its head office in Mumbai’s Bandra Kurla Complex to allow the seating makeover.mint
The bank is renovating its head office in Mumbai’s Bandra Kurla Complex to allow the seating makeover.mint

ICICI Bank moves to revamp its office culture, discards cabins, some grades

  • The bank has scrapped grades of employees above AGM rank, retaining grades only for executive directors and MD
  • The private sector lender has also allowed 500 employees access to its executive dining room, which was earlier open only to the top tier of the management

Cass R. Sunstein, the Robert Walmsley University Professor at Harvard
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'The mismatch between the right skills and jobs will always be there. But we need at least an economy equivalent to China’s since our population is almost the same,' says Naik (Photo: Reuters)
Info Edge, though, reported a loss of  ₹190 crore in the first quarter against  ₹22 crore in the year-ago quarter. (Mint)
Info Edge, though, reported a loss of 190 crore in the first quarter against 22 crore in the year-ago quarter. (Mint)

Info Edge’s investments drag Q1 performance, stock valuations remain lofty

  • In the first quarter ending June, Info Edge’s standalone revenue growth remained healthy at 20.5% yoy, much in line with analysts estimates
  • Its flagship portal, Naukri though has seen a decent growth, driven by IT and IT services

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SoftBank reported first-quarter profit that beat the highest analyst estimate
Long Reads
 (Naveen Kumar Saini/Mint )
Plain Facts
 (Santosh Kumar Sharma/Mint)
In rupee terms, gold prices touched a record high of  ₹37,799/10gm last week (Photo: Bloomberg)
In rupee terms, gold prices touched a record high of 37,799/10gm last week (Photo: Bloomberg)

Traders flock to gold as fears of recession in the US loom large

  • The World Gold Council’s outlook report showed that central banks bought 224.4 tonnes of gold in Q2 of 2019
  • In its latest survey of fund managers, BofAML points out that the proportion of fund managers expecting a global recession in the next 12 months was at its highest since 2011

Four-year-old RedDoorz has now raised about $140 million since its inception (Photo: https://blog.reddoorz.com)
Four-year-old RedDoorz has now raised about $140 million since its inception (Photo: https://blog.reddoorz.com)

How a former MakeMyTrip executive built a challenger to Oyo

  • Similar to Oyo, RedDoorz signs on budget hotel owners, provides them with software and standardized supplies, and trains their staff
  • Both Oyo and RedDoorzare riding a surge in independent travel as younger Asians grow more affluent

IDFC First Bank offers interest rate of 7.75-8.50% on FDs between 1 year and 2 years
Paytm is the single largest platform for banks, financial services, and insurance (BFSI) payments. (Bloomberg)
Paytm is the single largest platform for banks, financial services, and insurance (BFSI) payments. (Bloomberg)

Paytm promotes CFO Madhur Deora as President

  • Prior to joining Paytm in October 2016, Deora served as Managing Director in Citigroup's investment banking business
  • Paytm has tied-up with more than 30 major insurance companies and more than 45 finance companies

A still from the movie 'Mission Mangal'.
According to IMD, some districts have also received snowfall in the state. (PTI)
The Modi government in its previous term had set up an Expert Committee in 2017 to draft a new Direct Tax Code (DTC). (iStock)
The startup’s Series C investment follows shortly after RedDoorz announced its Series B funding of $45 million in April 2019. (Photo: RedDoorz)
A file photo of Union defence Minister Rajnath Singh (Photo: PTI)
State Bank of India has an exposure of  ₹11,500 crore to auto dealers.  ( Aniruddha Chowhdury/Mint)
Rajiv Kumar, vice chairman of NITI Aayog (Photo: Ramesh Pathania/Mint)
Rajiv Kumar, vice chairman of NITI Aayog (Photo: Ramesh Pathania/Mint)

NITI Aayog plans to review laws that hinder ease of living

  • The federal policy think tank will comb through all the laws in the country and make recommendations to the government, said NITI Aayog vice chairman Rajiv Kumar
  • As part of efforts to improve living standards, the Modi government had in its previous term sought to extend access to amenities

Investment, merger and acquisition (M&A) activity in the roads sector has picked up pace this year. (Reuters)
 (Naveen Kumar Saini/ Mint)
Spandana Sphoorty Financial Ltd is a rural-focused NBFC-MFI with a geographically diversified presence in India. (Photo: Hemant Mishra/Mint)
Spandana Sphoorty Financial Ltd is a rural-focused NBFC-MFI with a geographically diversified presence in India. (Photo: Hemant Mishra/Mint)

Spandana Sphoorty lists 3.7% lower than issue price

  • The stock touched a high and a low of 849 and 809.20 respectively
  • The IPO, open for subscription during 5-7 August, was subscribed 1.05 times

MPower has now raised an estimated $200 million in loan financing capital. (Photo: Bloomberg)
Though NCDs are fixed income instruments, there have been instances where investors have lost money (Photo: iStock)
A file photo of US President Donald Trump speaks alongside Apple CEO Tim Cook (L)  (AFP)
A file photo of US President Donald Trump speaks alongside Apple CEO Tim Cook (L) (AFP)

Trump said Cook 'made a good case' that trade war could hurt Apple more Samsung

  • Trump said Cook 'made a good case' that tariffs could hurt Apple, given that Samsung's products would not be subject to those same tariffs
  • Apple's MacBook laptops and iPhones would not face the additional tariffs until December 15

U.S. President Donald Trump. (Reuters)
(From left) Derick Jose, Krishnan Raman and Srikanth Muralidhara are trying to flip the usual model where data scientists solve engineering problems. (Photo: Jithendra/Mint)
(From left) Derick Jose, Krishnan Raman and Srikanth Muralidhara are trying to flip the usual model where data scientists solve engineering problems. (Photo: Jithendra/Mint)

An AI startup keeps mega-machines at peak performance

  • Bengaluru-based Flutura’s AI product helps global giants like Shell and Henkel move into the age of Industry 4.0
  • Flutura is also building a separate product to enable engineers to apply AI without being experts in data science

Alfred Hitchcock
Alfred Hitchcock

Opinion | The audience as a piano: the strange case of Alfred Hitchcock

In memory of the most famous director in cinema history on his 120th birth anniversary

Security personnel at a temporary checkpoint in Srinagar on Sunday. AP
Prime Minister Narendra Modi addresses (Photo: PTI)
Gold prices today:  Gold traded at around  ₹37,800 per 10 grams on MCX.
Prime Minister Narendra Modi at the Royal University of Bhutan, in Thimphu on Sunday.pti
Prime Minister Narendra Modi at the Royal University of Bhutan, in Thimphu on Sunday.pti

PM lists space, education as new areas of cooperation with Bhutan

  • The Prime Minister invited more students to visit India for studies in traditional areas such as Buddhism
  • One of the key outcomes of the visit was Modi and Bhutanese prime minister Lotay Tshering inaugurating the 720 megawatts Mangdechhu hydel power project on Saturday

At AMU, Kashmiri students are the largest students’ community after those from Uttar Pradesh and Bihar. ht
At AMU, Kashmiri students are the largest students’ community after those from Uttar Pradesh and Bihar. ht

Universities reach out to Kashmiri students to bridge trust deficit

  • University professors are organizing group lunches, holding counselling sessions for Kashmiri students
  • As the trust deficit widens between Kashmir and heartland India, several universities are making an extra effort to reach out to Kashmir students

Bhupinder Singh Hooda addressing 'Parivartan Maha rally' in Rohtak (Photo: ANI)
Afghan men hug each other as they mourn during the funeral of their relatives after a wedding suicide bomb blast in Kabul (Photo: Reuters)
Afghan men hug each other as they mourn during the funeral of their relatives after a wedding suicide bomb blast in Kabul (Photo: Reuters)

IS claims Afghanistan wedding suicide blast that killed 63 people

  • The attack came as the Taliban, the US are trying to negotiate an agreement on the withdrawal of US forces in exchange for a Taliban commitment on security, peace talks with the Afghanistan govt
  • Taliban denied responsibility for the blast at a west Kabul wedding hall

The appointment of the CDS will certainly change the civil-military balance, and, if done correctly, will address some of the grievances of the Armed Forces pertaining to their status vis-a-vis the civil services.
The appointment of the CDS will certainly change the civil-military balance, and, if done correctly, will address some of the grievances of the Armed Forces pertaining to their status vis-a-vis the civil services.

Opinion | Appointing a chief of defence staff would just be the first step

To take the logic of the CDS to its conclusion, the Armed Forces should be operationally restructured into theatre commands

Former US president Barack Obama (Photo: Reuters)
Former US president Barack Obama (Photo: Reuters)

Opinion | The beautiful loneliness of not believing in heroes

People who do not believe in heroes search harder for the meaning of an action that is heroic

 (Photo: AP)
It is also important to evaluate the demand for the project; stay away if the demand or sales are low. (Photo: iStock)
 (Photo: iStock)
Pakistan Prime Minister Imran Khan. (Reuters )
A view of the Yamuna river as the water level rises after the water gets released from Hathni Kund Barrage, in New Delhi (Photo: ANI)
A view of the Yamuna river as the water level rises after the water gets released from Hathni Kund Barrage, in New Delhi (Photo: ANI)

Flood alert for Delhi as Yamuna nears warning level

  • Yamuna was flowing at 203.37 metres on Sunday evening and its water level is expected to rise further on Monday
  • Delhi govt said preparations are being made to erect tents in nearby areas to accommodate the people living in the low-lying areas

Photo: AFP
Hyundai cars ready for shipment are parked at a port in Chennai.  (Reuters)
Hyundai cars ready for shipment are parked at a port in Chennai. (Reuters)

Hyundai announces 'No Production Days' to suit market conditions

  • The production downtime as and when they occur has been in line with the operational plans
  • Transmission-1 department was under no production day on August 10 in all its three shifts while transmission-2 on August 10 and 12

It is true that unhindered debt accumulation by the state is not a desirable objective, but these are extraordinary times which call for extraordinary measures. Photo: AFP
It is true that unhindered debt accumulation by the state is not a desirable objective, but these are extraordinary times which call for extraordinary measures. Photo: AFP

Opinion | All that the Indian economy needs is a ten-letter word

Restoring the confidence of businesses and consumers is key to reviving ‘animal spirits’ in the economy

Security personnel stand guard at a check point during restrictions, after Centre abrogated Article 370, in Srinagar, Sunday. (PTI)
Security personnel stand guard at a check point during restrictions, after Centre abrogated Article 370, in Srinagar, Sunday. (PTI)

J&K: Curbs reimposed on movement, phones in Srinagar

  • In the past 24 hours, there has been a series of protests against New Delhi's August 5 revocation of Jammu and Kashmir’s special status
  • At least two dozen people were admitted to hospitals with pellet injuries after violent clashes broke out in Srinagar on Saturday night