Saudi Aramco has assured India that it will honour its supply contracts despite the production cuts. (Photo: Reuters)
Saudi Aramco has assured India that it will honour its supply contracts despite the production cuts. (Photo: Reuters)

Oil spike fuels fresh growth worries

  • Gulf tensions add to concerns over economy even as Aramco assures India it will honour supply contracts despite production cuts
  • India’s CAD and fiscal deficits could worsen if oil prices remain at the elevated level, Shaktikanta Das warned

Arundhati Bhattacharya and Sunil Mehta registered their company, Welmo Fintech, on 3 September. (Photo: Mint)
Photo: HT
A file photo of an NHPC project. The state-run company plans to leverage infra investment trusts to monetize 10 of its 22 projects.
A file photo of an NHPC project. The state-run company plans to leverage infra investment trusts to monetize 10 of its 22 projects.

NHPC to monetise 10 projects to help meet disinvestment target

  • NHPC will hire a consultant to assess feasibility of monetizing a few hydro assets via the limited tender route
  • NHPC posted a net profit of 2,631 crore on a revenue of 8,161 crore in 2018-19

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The banks will also be closed on 28 September, the fourth Saturday in September, making it a four-day break for banking services (Photo: PTI)
The banks will also be closed on 28 September, the fourth Saturday in September, making it a four-day break for banking services (Photo: PTI)

Bank unions declare two-day strike in September. What to expect?

  • Bank unions have announced a 2-day strike, starting at midnight on 25 Sept and continuing till 27 Sept, to protest the merger of 10 major PSBs announced by FM Sitharaman last month.
  • The 2-day bank strike, followed by 2 consecutive weekly offs will primarily impact cheque clearances, cash deposits/withdrawals and any other services availed at bank branches and ATMs

When the bank is held responsible: According to RBI’s guidelines, a customer has zero liability if unauthorized transaction occurs because of two reasons. (Photo: iStock)
When the bank is held responsible: According to RBI’s guidelines, a customer has zero liability if unauthorized transaction occurs because of two reasons. (Photo: iStock)

What to do if you lose money to a bank fraud

  • While you may be able to recover the money, the process takes time
  • People should avoid using unsecured WiFi and have the latest anti-virus software on their devices

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Air India’s net debt swelled from about  ₹55,000 crore at the end of March 2018 to  ₹58,351.93 crore at the end of March this year. (Mint)
Air India’s net debt swelled from about 55,000 crore at the end of March 2018 to 58,351.93 crore at the end of March this year. (Mint)

Air India Assets’ 7,000 cr bond issue fully subscribed

  • SPV created to park Air India debt set to raise 15,000 cr via fresh bond issue in 15 days
  • AIAHL receives bids worth 20,830 crore, the highest in yield-based bond market in the history of BSE

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Photo: Mint
Revenue pressures, profiteering fears prompt state governments to question union govt's move to cut GST rates (Photo: PTI)
The iPhone 11 will be available on 27 September, with the cheapest model available around  ₹65,000
The iPhone 11 will be available on 27 September, with the cheapest model available around 65,000

The new iPhone is cheaper. Should you EMI it?

  • Easy-to-get EMI options may lure you but opt for them to buy the new iPhone only if you are sure of future revenue streams, given the slowdown
  • It is a good idea to understand the full cost of the loan and the phone before you buy the new iPhone

Latest data shows that WPI- and CPI-based inflations are digressing further from each other
Latest data shows that WPI- and CPI-based inflations are digressing further from each other

Static wholesale prices offer little succour for RBI

  • Wholesale prices of manufactured products in August were at the same level as a year ago, signalling that producers lacked pricing power
  • RBI has been focusing only on CPI-based inflation after a 2015 monetary framework pact with the Centre

The firm has lined up 500,000 sellers on its platform in the run-up to festive season sale.
The firm has lined up 500,000 sellers on its platform in the run-up to festive season sale.

Ahead of annual sale, Amazon says we don’t see any signs of slump

  • The e-retailer is set to roll out better financing offers and back the event with print campaigns in local languages
  • The company has lined up 500,000 sellers on its platform in run-up to the festive sale, a sharp rise from the 380,000 sellers it had on-boarded last year

BSE Sensex fell 261.68 points, or 0.7% to 37,123.31 (Photo: Mint)
BSE Sensex fell 261.68 points, or 0.7% to 37,123.31 (Photo: Mint)

Stocks, rupee slip on Saudi oil slick

  • Crude prices rising by a dollar would increase India’s import bill by roughly $1.6 billion a year, according to an estimate
  • On Monday, the Indian rupee weakened 0.94% to close at 71.60 a dollar

PM Narendra Modi and US President Donald Trump will meet for the third time this year at the Houston event to be held next week.  (Photo: Reuters)
PM Narendra Modi and US President Donald Trump will meet for the third time this year at the Houston event to be held next week. (Photo: Reuters)

In major diplomatic coup, Trump set to join Modi at Houston event

  • White House’s confirmation comes as major boost for the Prime Minister and the Indian community in US
  • This may be the first time a sitting US President attends an event organized by Indians in the US

The drone attack Saturday on Saudi Arabia's Abqaiq plant and its Khurais oil field led to the interruption of an estimated 5.7 million barrels of the kingdom's crude oil production per day, equivalent to more than 5% of the world's daily supply. (AP)
The drone attack Saturday on Saudi Arabia's Abqaiq plant and its Khurais oil field led to the interruption of an estimated 5.7 million barrels of the kingdom's crude oil production per day, equivalent to more than 5% of the world's daily supply. (AP)

What Saudi Arabia's options are after unprecedented attack on its oil infra

  • While an open war between Saudi Arabia and Iran can never be ruled out, it’s highly unlikely
  • Negotiating a peace accord with the Shiite Houthi rebels remains the best long-term option for Prince Mohammed

Bernard Charlès, VC and CEO of Dassault Systèmes.
High oil prices will further hit business and consumer confidence that already are fragile amid the US-China trade dispute. Bloomberg
High oil prices will further hit business and consumer confidence that already are fragile amid the US-China trade dispute. Bloomberg

Spike in oil prices couldn’t come at worse time for a slowing world economy

  • While the severity will depend on how long the price spike endures, the development will further erode business and consumer confidence
  • The impact from the oil-price spike will vary around the world

Follow up meetings with both Swiggy and Zomato on the eight core issues were largely positive and talks have progressed well so far, the NRAI said (Photo: S Sudarshan/ Mint)
Follow up meetings with both Swiggy and Zomato on the eight core issues were largely positive and talks have progressed well so far, the NRAI said (Photo: S Sudarshan/ Mint)

NRAI meets with food aggregators amid ongoing discord

  • Zomato Gold continued to remain an issue of contention among the association and the food aggregator
  • NRAI’s managing committee is slated to meet this week in Mumbai to discuss the next course of action

The teaser for the special event showed a OnePlus device being suckered into a giant star.  (YouTube/OnePlus)
The teaser for the special event showed a OnePlus device being suckered into a giant star. (YouTube/OnePlus)

OnePlus TV may launch on 26 Sept special event

  • OnePlus will hold a special event on 26 September where the OnePlus TV might be unveiled
  • The company may also launch the OnePlus 7T and 7T Pro, although some media reports suggest a later launch date of 5 October for these smartphones

Trump attending the Texas event is expected to send a strong signal of personal support to Modi at a time. (Photo: ANI)
Many manufactured items saw negative inflation or deflation including vegetable and animal oils. Photo: Abhijit Bhatlekar/Mint
Many manufactured items saw negative inflation or deflation including vegetable and animal oils. Photo: Abhijit Bhatlekar/Mint

Why WPI inflation remains low?

  • Food inflation accelerated to 7.67% in August from 6.15% a month ago
  • Fuel inflation also fell into negative territory

The corridor will connect Darbar Sahib in Kartarpur with Dera Baba Nanak shrine in Gurdaspur district of Punjab and facilitate visa-free movement of Indian pilgrims. (. Photo: Twitter)
The corridor will connect Darbar Sahib in Kartarpur with Dera Baba Nanak shrine in Gurdaspur district of Punjab and facilitate visa-free movement of Indian pilgrims. (. Photo: Twitter)

Kartarpur corridor to be opened for Indian pilgrims on 9 November

  • Pakistani official says so far 86% of the work on the Kartarpur corridor has been completed and it will be opened to pilgrims on November 9
  • The official also says some 76 immigration counters have been set up to cater to 5,000 Sikh pilgrims from India every day

National Conference chairman Farooq Abdullah is the first Jammu and Kashmir chief minister to be booked under the Public Safety Act.
An increase in trust in the formal system will translate to more uptake and use of financial services that households are in dire need of.
The best case for you is to sell the property but getting a buyer in the current market is very difficult. (Photo: iStock)
The best case for you is to sell the property but getting a buyer in the current market is very difficult. (Photo: iStock)

EMI won’t stop if builder delays delivery

The investors who have taken a home loan or a subvention scheme have been hit the maximum as there is an interest cost to be serviced and if the investor has been staying on rent, it is a double blow for them

The RBI has said the views expressed in the article do not represent the regulator’s view. (Photo: Hemant Mishra/Mint)
The RBI has said the views expressed in the article do not represent the regulator’s view. (Photo: Hemant Mishra/Mint)

State-run banks net receivers in NEFT network

  • Payment flows are particularly strong within the public-to-public sector and private-to-private sector banks network, says RBI's economic and policy research department
  • During 2018-19, 2.3 billion NEFT transactions worth 227.93 trillion were recorded, according to RBI data

(Photo: iStock)
Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)
Sales of pre-owned cars are estimated to increase to as many as 4.4 mn units this fiscal from 4 mn in the previous fiscal, according to Mahindra First Choice Wheels (Photo: HT)

Amid a sharp auto slowdown, small towns drive up sales of used cars

  • Sales of used cars are estimated to rise to as many as 4.4 million units this fiscal from 4 million in the previous fiscal
  • Car resellers expect the surge in sales of used cars to continue due to new regulations and changing consumer tastes.

Das said the monetary policy committee would continue to focus on growth with inflation expected to stay within the medium term target. (Photo: Mint)
Das said the monetary policy committee would continue to focus on growth with inflation expected to stay within the medium term target. (Photo: Mint)

Current account under threat if oil surge continues, says Shaktikanta Das

  • Das says it was important to see whether alternative sources of oil supply come up and how soon the installations take to resume operation
  • A jump in oil prices is a negative for emerging markets such as India, which is the world's third-biggest importer of oil

Anjali Singh has joined the Indian Embassy in Russia as the Deputy Air Attache (@IndEmbMoscow)
The train will have eight stoppages including the originating and terminating stations.
New Delhi: Traffic policemen stop a motorist driving in the wrong lane as newly amended Motor Vehicles Act comes into force.  (PTI)
New Delhi: Traffic policemen stop a motorist driving in the wrong lane as newly amended Motor Vehicles Act comes into force. (PTI)

Motor Vehicle Act: Fines in different states on traffic rule violation

  • The new Motor Vehicles Act has enhanced the penalties for traffic violations and erring drivers
  • The Motor Vehicles (Amendment) Act, 2019 was passed by Parliament during the last session and it came into effect on 1September

Aramco had planned to debut in November (Photo:Reuters)
Aramco had planned to debut in November (Photo:Reuters)

Aramco considering delaying IPO: Report

Aramco had planned to debut in November on a local stock market before listing on an international one next year, sources had told AFP last week

NCP chief Sharad Pawar.
Of the analysts covering Bajaj Finance stock, 15 have a 'buy' rating, eight have a 'hold' rating, while three have a 'sell' rating: Bloomberg (Photo: Reuters)
Gautam Thapar, promoter of CG Power. (Photo: HT)
Gautam Thapar, promoter of CG Power. (Photo: HT)

PE firm KKR acquires 10% stake in CG Power

  • KKR India Debt Opportunities Fund II and KKR India Financial Services have acquired 62.6 mn shares in the firm
  • In March, CG Power had said creditors had invoked 67.6 million pledged equity shares, constituting 10.8% of the company’s share capital

The government said the funding will cover the entire cost of study, and living expenses for upto five years of a PhD program
The government said the funding will cover the entire cost of study, and living expenses for upto five years of a PhD program

India to fund 1,000 PhD fellowships for ASEAN students at IITs

  • The initiative will fund 250 scholars this year, 300 in 2020 and 450 the year after, higher education secretary R. Subrahmanyam said
  • The move comes after Prime Minister Narendra Modi had promised to enhance academic ties with the east Asian nations in 2018

There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters
There is speculation that US President Donald Trump could join Prime Minister Narendra Modi at the ‘Howdy Modi’ event to be organized in Houston, Texas on 22 September. Reuters

Energy deals, address to UNGA on PM’s agenda during US visit

  • Several meetings are lined up on the sidelines of the UN General Assembly, before he addresses it on 27 Sep
  • PM Modi is scheduled to meet top representatives of the US energy sector in Houston

Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai.  (REUTERS)
Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (REUTERS)

Jet Airways lenders make presentation to Synergy Group

  • The airline owes over 8,500 crore, excluding interest, and other penal charges, to a clutch of lenders led by the State Bank
  • The lenders consortium, which owns 51%, had on June 17 sent the airline to the NCLT as they could not find a buyer

Union IT minister Ravi Shankar Prasad on Monday held talks with senior officials of 34 smartphone and consumer electronics companies, including Apple, Samsung, Xiaomi and OPPO. (Photo: HT)
Union IT minister Ravi Shankar Prasad on Monday held talks with senior officials of 34 smartphone and consumer electronics companies, including Apple, Samsung, Xiaomi and OPPO. (Photo: HT)

Apple making phones, parts in India for export, says Ravi Shankar Prasad

  • This comes at a time when Apple is looking to shift its manufacturing from China amid trade war with US
  • Apple assembles its iPhone SE, iPhone 6S, and iPhone 7 models at a facility in Bengaluru

Photo: Mint
Photo: Mint

Piramal Enterprises to raise Rs690 crore via NCDs

  • Board approves allotment of 6,900 secured, unrated, unlisted redeemable NCDs each having a face value of Rs10 lakh aggregating to Rs690 crore
  • Shares of Piramal Enterprises settles at Rs1,900.80 apiece on the BSE, down 0.10%

A file photo of Piyush Goyal
While shares of ONGC may not have risen enough, shares of OMCs may not have fallen enough. (Photo: Reuters)
Over 1,300 employees of GMTC-I will transfer to TCS
Brent crude surged by 20% ($12) on Monday, while the West Texas Intermediate jumped 15% (over $8). (Reuters)
Brent crude surged by 20% ($12) on Monday, while the West Texas Intermediate jumped 15% (over $8). (Reuters)

Drone attack on Saudi oil facilities to hit India's fuel import bill: DBS

  • Saturday’s drone attack on Saudi oil plants leads to the biggest surge in crude oil prices since the Gulf War
  • A 10% rise in crude prices widens India's current account deficit by 0.4-0.5% of GDP, says DBS

During the arguments, Chidambaram's lawyer said ED cannot place documents in the court randomly and 'behind the back' for seeking his custody (MINT_PRINT)
During the arguments, Chidambaram's lawyer said ED cannot place documents in the court randomly and 'behind the back' for seeking his custody (MINT_PRINT)

ED wants arrest only to humiliate me: Chidambaram to Supreme Court

  • 'You are trying to paint a person as a kingpin when these alleged offences did not exist at that time,' Chidambaram's lawyer said
  • Solicitor General Tushar Mehta, appearing for ED, said he would respond to Chidambaram's plea seeking production of transcripts of his questioning on Wednesday

NCP chief Sharad Pawar said a decision on seats to be given to allies will be taken soon.  (Photo: HT)
NCP chief Sharad Pawar said a decision on seats to be given to allies will be taken soon. (Photo: HT)

Congress, NCP divide seats equally in Maharashtra

  • Maharashtra has 288 assembly seats. NCP and Cong will contest 125 seats each, and leave 38 for other friendly parties
  • While the Congress had won 42 seats in the 2014 assembly elections, the NCP had secured 41

The information about the steel imports provided by importers on the SIMS will be monitored by the Steel Ministry (Photo: Mint)
The information about the steel imports provided by importers on the SIMS will be monitored by the Steel Ministry (Photo: Mint)

Government launches steel import monitoring system

  • Minister of Commerce and Industry Piyush Goyal and his junior colleague Hardeep Singh Puri launched the system
  • Importers of specified steel products will register in advance on the web portal of SIMS providing the necessary information

A few days after Sitharaman's comments, Mahindra launched a subscription-based car ownership model, just like its global counterparts Ford, Volvo, Hyundai and Porsche (Photo: iStock)