Digital wallets make a comeback in covid crisis

• The recent surge in digital wallet transactions is also a result of tailwinds in digital payments as customers opted for online methods to pay instead of cash

HDFC hits the street with ₹14,000 crore equity fundraise

The board has also approved raising up to ₹9,000 cr through an issue of non-convertible debentures

H-1B curbs extend wait for the  great American dream

H-1B visa holders have been under constant scrutiny in the US and 2020 has witnessed peak executive action against this group in light of high American unemployment. Mint takes a look at what is driving this anti-H-1B sentiment.

9 states termed ‘vulnerable’ as death toll crosses 40,000

• High population density, porous city and state borders blamed for spike in covid infections
• India saw a spike in cases after the lockdown was eased, public health experts claimed

Mumbai rains: Heavy shower to continue; possibility of floods, says official

• Prime Minister Narendra Modi spoke with Uddhav Thackeray about the prevailing situation in Mumbai and assured support
• The roof of the iconic DY Patil cricket stadium in Navi Mumbai was severely damaged by the rains and gusty winds, according to police

Covid-19 to make a dent in malls' revenues in FY21: Crisil

• Multiplexes, food courts, restaurants and gaming zones that contribute to roughly 22% of the total revenues at malls, are yet to open in malls across the country

India cancels Chinese smart meters contract, snap bids to be called shortly

• Order cancellation stamps exclusion of Chinese firms from world’s largest smart metering programme
• The NDA government plans to convert all electricity meters into smart prepaid meters by 2022

Setting the table for a safe food boom

• The pandemic has compelled many to focus on what goes into their food. Will the organics moment last?
• Unlike organic staples like rice, pulses and honey, which have seen an uptick lately, sourcing and supplying naturally-grown perishables is a harder segment to crack

Jack-of-all-trades BSE lags MCX’s value driven by commodity focus

The average daily turnover in the BSE’s equity cash segment rose on a y-o-y basis; MCX turnover fell

India bans more Chinese apps, including some from Xiaomi, Baidu: Report

• The bans are part of India's moves to counter China's dominant presence in the country's internet services market
• The govt in June banned 59 Chinese apps for threatening the country's 'sovereignty and integrity', including TikTok, UC Browser and Mi Community app

How much tax do you pay on your equity investment

• Capital gains tax is based on the period of holding
• Taxes reduce the overall returns that you can get from a product

Ajay Tyagi gets an extension of 18 months as Sebi chief

Tyagi, an IAS Officer of Himachal Pradesh cadre, will now head the regulator till at least 28 February 2022

Scrutiny of tax cases on the decline, shows data

The finance ministry has said the drastic reduction in the number of cases chosen for scrutiny was a reflection of the tax authority’s evolution from an enforcement agency to one focused on tax payer services

Mumbai: Heavy rain topples signage of Bombay Stock Exchange building

• Continues shower from last night, wreaked havoc in the financial capital
• IMD has issued a red alert for the Mumbai Metropolitan Region for today

Covid prompts FMCG firms to look at efficient processes

• While not all associations and learnings will stick, especially as markets gradually open up and stocks start moving, firms will look at imbibing some of these changes in the way they function

Investing in mid- and small-caps is risky

The investment case for these asset classes hinges on macroeconomic recovery, the risk you are willing to take and how long your time horizon is

BYJU's acquires code training app WhiteHat Jr for $300 million

Online education platform Byju’s has acquired Mumbai-based education technology (edtech) start-up WhiteHat Jr in an all-cash deal worth $300 million

Is Apple planning 4-1 stock split? Retail-trader bets on further gains rising

• Apple's quarterly report last week crushed Wall Street expectations amid pandemic demand for its products, and the company announced a four-for-one split for later this month
• The stock rose more than 17% over the previous days while there was a slump of 0.2% to $437.60

Covid-19: Maharashtra sees 10,309 new cases; recoveries cross 3 lakh-mark

The BMC reported 1,125 cases in Mumbai, taking the cumulative figure to 1,19,240, while Pune Municipal Corporation reported 1,282 cases, taking the total to 65,136

Samsung launches Galaxy Note 20, Galaxy Note 20 Ultra: Details here

The South Korean tech giant has revealed the Galaxy Tab S7 and Tab S7+ along with the smartphone series. Samsung also launched the Galaxy Watch3, Galaxy Buds Live and even the new Galaxy Z Fold2

Huge digital billboard of Ayodhya Ram temple shines in New York's Times Square

• In the US, various Hindu community groups would be organising virtual events to mark the importance of the occasion
• The groundbreaking ceremony for the construction of the temple took place on Wednesday in Ayodhya

Chinese side has no locus standi on this matter: MEA on China's comment on J&K

China is advised not to comment on internal affairs of other nations, says MEA

Covid-19 impact: DLF reports net loss of ₹71 cr in Q1

Consolidated revenue from operations declined 59% to ₹549 cr

With 5,619 new Covid-19 cases, Karnataka's overall tally crosses 1.5 lakh-mark

Karnataka is experiencing a sharp spike in new cases that places the state as the third most affected region in the country with nearly 74,000 active cases

COVID-19: Gyms, yoga institutes re-open today. Is it safe to go amid pandemic?

• The members should be allotted separate time slots to maintain adequate physical distance
• The gyms and yoga institutes in the containment areas will remain closed

ED summons Rhea Chakraborty for questioning on Aug 7

• As a part of a procedure based on complaint filed by Sushant's father, Rhea Chakraborty has been summoned by ED in investigation regarding money laundering case

DLF, Godrej Properties post losses in Q1 due to covid-led business disruption

DLF, India’s largest real estate developer, posted a net loss of ₹71.52 crore in the June quarter. It had posted a net profit of ₹413.94 crore in the corresponding year-ago quarter

SC asks Centre if it can urge insurance companies to pay medical dues promptly

The bench headed by Chief Justice SA Bobde said, 'When there's a pandemic, insurance companies cannot keep their hands off'

Moderna, whose covid vaccine is in final trial, says holding talks for supply

• Moderna's covid vaccine candidate is one of the few to be in the final stages of testing

Cadila’s Q1 cost savings impress, but the stock faces a bumpy ride

The company is starting phase II trials for its covid-19 vaccine, the results of which are expected by end-October

DMK MLA, suspended for praising PM Modi, visits BJP office in Chennai

• The DMK now functions as a family's party, says Ku Ka Selvam at BJP office
• On Tuesday, Selvam praised Modi for good governance and extended his best wishes to him for efforts to construct the Ram temple in Ayodhya

India conducts over 6 lakh COVID-19 tests for second consecutive day

• In January, India had only one laboratory testing for COVID-19
• India as a whole, the testing rates are much lower compared to some of the countries, WHO chief scientist earlier said

Flying to Goa? New quarantine rules make pre-booking of accommodation mandatory

Pre-booking of accommodation (hotels registered with Department of Tourism) is mandatory for tourists opting for home quarantine

Samsung Galaxy Unpacked event: How to stream live, other details

Samsung is expected to launch a wide range of products at the event apart from the Galaxy Note 20

Narendra Modi in Ayodhya: Ram Mandir will reflect rich Indian cultural heritage

'Ram Mandir will become the modern symbol of our traditions. It'll become a symbol of our devotion, our national sentiment,' said Modi.

How to reduce costs on your forex transfers from India

• Indian residents are allowed to transfer up to $250,000 per year for purposes such as investment in foreign stocks or funds, education, maintenance of relatives and tourism.

'COVID-19 vaccine likely by 2021,' Bill Gates answers when pandemic will end

• Microsoft founder Bill Gates said a vaccine may come by the the beginning of the next year
• Gates said he is optimistic that many therapies in development to treat the virus may help significantly reduce the death rate of the virus