Global trade tensions and continued uncertainty are sapping the strength of the world economy which faces a 'precarious' 2020, the IMF warned (Photo: Reuters)
Global trade tensions and continued uncertainty are sapping the strength of the world economy which faces a 'precarious' 2020, the IMF warned (Photo: Reuters)

IMF cuts India’s FY20 growth forecast by 30 bps to 7%

  • 'The downward revision of 0.3 percentage point for both years reflects a weaker-than-expected outlook for domestic demand,' says IMF
  • IMF cuts global growth to 3.2% in 2019, 3.5% in 2020; says India will grow 7.2% in FY21

Reliance’s shares closed 0.5% lower at  ₹1,273.55 after falling as much as 1.6% earlier (Photo: Reuters)
Reliance’s shares closed 0.5% lower at 1,273.55 after falling as much as 1.6% earlier (Photo: Reuters)

Saudi Aramco's talks to buy minority stake in RIL's refining assets stall

  • Aramco is concerned about Reliance’s proposal to shift some debt of the wider group to its refinery business ahead of the transaction
  • Reliance’s debt increased 20% over the past year as it spent $36 billion to disrupt India’s wireless market with cheap data and free calls

L&T's consolidated order book stood at  ₹2.94 trillion as of 30 June (Photo: Reuters)
Anand Piramal, executive director of Piramal Group, has invested in his personal capacity
Anand Piramal, executive director of Piramal Group, has invested in his personal capacity

Anand Piramal invests an undisclosed amount in Snapdeal

  • This investment also marks a new investment into Snapdeal after its last cash infusion in 2017 by existing investor Nexus Venture Partner
  • 'Since 2017, Snapdeal’s revenues have grown rapidly with profitable unit economics,' said Piramal

Boris Johnson speaks after being announced as Britain's next Prime Minister at The Queen Elizabeth II centre in London (Photo: Reuters)
Boris Johnson speaks after being announced as Britain's next Prime Minister at The Queen Elizabeth II centre in London (Photo: Reuters)

Boris Johnson wins race to be next British Prime Minister

  • Johnson defeated his rival Foreign Secretary Jeremy Hunt by a landslide in a ballot of the Conservative Party’s roughly 160,000 members
  • The incoming PM has just 100 days to negotiate a new divorce deal with the European Union before the UK is due to leave the bloc at the end of October

Shares of HUL today closed 0.9% higher at  ₹1,693.20 on the BSE. (Mint)
The Ministry of External Affairs has rejected Trump's remarks, made during his meeting with Pakistan Prime Minister Imran Khan (Photo: Reuters)
The Ministry of External Affairs has rejected Trump's remarks, made during his meeting with Pakistan Prime Minister Imran Khan (Photo: Reuters)

Diplomatic furore erupts in India over Donald Trump's Kashmir mediation remarks

  • If Trump's claim that Modi had asked him to mediate on Kashmir issue is true, then Modi betrayed interests of the country, said Congress leader Rahul Gandhi
  • With these remarks, Trump appeared to have reversed decades of US policy endorsed by a succession of Republican and Democratic administrations

A file photo of Viral Acharya. (Reuters)
A file photo of Viral Acharya. (Reuters)

Viral Acharya and the art of crowd management

  • The outgoing deputy governor of RBI in his last published speech highlighted yet again the problem of crowding out by govt’s rising market borrowings
  • The threat from rising fiscal deficit has been well argued by several policy watchers and even some policymakers

Supreme Court has appointed senior advocate R.Venkataramani as the court receiver.

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With the additional tax on dividends, companies had found share buybacks a more optimum route to distribute surplus cash to shareholders (Mint)
With the additional tax on dividends, companies had found share buybacks a more optimum route to distribute surplus cash to shareholders (Mint)

Companies seek clarity on buyback tax from finance ministry

  • Some companies have sought clarity on the applicability of the buyback tax on their offerings, which had been announced before the Budget proposal
  • In the past three years, publicly traded firms bought back shares worth 1.43 trillion

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Jet Airways has not flown since 18 April due to funding woes (Photo: Reuters)
Jet Airways has not flown since 18 April due to funding woes (Photo: Reuters)

NCLT to hear Jet Airways case on 8 August

  • The tribunal asked the court-appointed IRP for Jet Airways to discuss employee’s salary concerns with the Committee of Creditors
  • Employee associations of Jet Airways had earlier through their lawyers sought the court’s permission to release a month’s salary

APPLE satellite being tested in a bullock cart in 1981. (Photo: www.isro.gov.in)
India captain Virat Kohli (Photo: AFP)
India captain Virat Kohli (Photo: AFP)

India captain Virat Kohli remains number one ranked batsman in Test cricket

  • In the Test team rankings, India remained in top position followed by New Zealand (2) and South Africa (3) with England (4) and Australia (5)
  • Virat Kohli is on 922 points with New Zealand skipper Kane Williamson (913) just behind him and Cheteshwar Pujara (881) third in the rankings

(Photo: Priyanka Parashar/Mint)
(Photo: Priyanka Parashar/Mint)

Consumer confidence recovers marginally in July: Survey

  • The India Primary Consumer Sentiment Index has shown recovery in July 2019, and has moved up by 0.6 points
  • The recovery comes as the consumer confidence for the month of June fell by 2.9% as the high cost of living and general gloom around state of economy weighed heavy on Indian households

Donald Trump and Narendra Modi. Photo: Reuters
InterGlobe Aviation co-founder Rahul Bhatia (Photo: Pradeep Gaur/Mint)
The southwest monsoon has covered the entire country on 19 July, against its normal date of 15 July. (Photo: PTI )
 (Bloomberg file)
Small eateries account for 80% of Zomato’s orders in emerging cities. For Swiggy, 35% of its business comes from small outlets and stand-alone restaurants. (Mint)
Small eateries account for 80% of Zomato’s orders in emerging cities. For Swiggy, 35% of its business comes from small outlets and stand-alone restaurants. (Mint)

Small eateries log on to food delivery apps, discover new customer base

  • In small cities, the apps are helping outlets expand their business and in metros, iconic joints are getting new customers
  • India’s food services market is pegged at 4.2 tn, 65% of which comprises unorganized and unlicensed joints

Vetri Subramaniam, group president and head of equity, UTI Asset Management
Munish Varma, managing partner at SoftBank Vision Fund.
The court added that Noida and Greater Noida colluded with the realty group in allowing diversion of the home buyers' money and not acting as per the law. (HT)
The court added that Noida and Greater Noida colluded with the realty group in allowing diversion of the home buyers' money and not acting as per the law. (HT)

Supreme Court cancels registration, lease of Amrapali group

  • The court directed ED to investigate the alleged money laundering by Amrapali CMD Anil Sharma and other directors of the group
  • The apex court also directed Noida and Greater Noida to handover a completion certificate to the flat buyers who are already residing in various projects

Not just global cues, domestically as well odds seem to be in favour of the precious metal. (Photo: Reuters)
More than 1,976 stocks traded on BSE have dropped since January—that’s 86% of all traded stocks. (HT)
More than 1,976 stocks traded on BSE have dropped since January—that’s 86% of all traded stocks. (HT)

Mid-cap mayhem: Long road to recovery

  • Mid- and small-cap stocks have gone through a free fall. To make matters worse, large-caps are now in trouble
  • The large-cap-based BSE Sensex has been masking the pain. The bellwether gained 12% since Jan 2018, but within the large-cap universe, only a handful are driving the surge

Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)
Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)

Draft Act has little room for owner-tenant fights

  • Draft Model Tenancy Act tries to balance the rights and interests of owners, tenants
  • The draft Act proposes to cap security deposit to a maximum of two months’ of rent for residential houses

Kavita Kumble took a loan from IDFC First Bank for her solo trip to Antarctica
Vistara currently serves 24 domestic destinations with a fleet of 23 Airbus A320 and six Boeing 737-800NG aircraft.
According to the plan, eight of the 17 aircraft would be put back into operation by the end of August itself. (Photo: Reuters )
Of the total, Piramal has fully exited four projects and has partially exited one. (Photo: Mint)
Of the total, Piramal has fully exited four projects and has partially exited one. (Photo: Mint)

Piramal’s real estate fund seeks extension

  • Launched in 2013, the fund has a tenure of six years which is extendable by another two years
  • The group firm said cash flow in a residential project in Pune was hit due to liquidity issues and inability to carry out sales and development activities

The $1 billion investment goes to the for-profit arm OpenAI LP (Reuters)
Union Minister for Road Transport and Highway Nitin Gadkari. (PTI)
The death of Hidma, who carried a reward of  ₹1 lakh on his head, is now likely to drastically alter the operational mechanism of Naxalites in Chhattisgarh's Bastar. (ANI)
The death of Hidma, who carried a reward of 1 lakh on his head, is now likely to drastically alter the operational mechanism of Naxalites in Chhattisgarh's Bastar. (ANI)

Security forces kill top Naxal commander in Chhattisgarh

  • Madkam Hidma had allegedly masterminded the 2017 attack in the district that killed 25 CRPF personnel
  • With the Naxals operating under a new chief commander, officials said the cadres will now focus on inflicting greater casualty/damage on security forces

Sonia Gandhi went on to speak about how more than 60 lakh citizens of the country have used the RTI Act to “usher in a new culture” of transparency and accountability. (PTI)
Sonia Gandhi went on to speak about how more than 60 lakh citizens of the country have used the RTI Act to “usher in a new culture” of transparency and accountability. (PTI)

RTI stands at the brink of extinction: Sonia Gandhi

  • Her strong remarks come a day after the Lok Sabha passed the Right to Information (Amendment) Bill, 2019
  • The bill seeks to empower the central government on deciding the terms of chief information commissioners and information commissioners

Photo: Bloomberg.
Chief Minister of Karnataka and JD(S) leader H. D. Kumaraswamy. (ANI)
Chief Minister of Karnataka and JD(S) leader H. D. Kumaraswamy. (ANI)

Karnataka floor test may be concluded today

  • The situation threatening to escalate into a full blown constitutional crisis in Karnataka
  • Proceedings began on a fiery note on Tuesday, with only a handful of legislators from the coalition being present when the session began

Dubai is set to see retail space surge by 42% by the end of 2021, according to property adviser JLL
Dubai is set to see retail space surge by 42% by the end of 2021, according to property adviser JLL

Dubai's real estate slump catches up with the city's finance hub

  • Dubai’s financial district has also been impacted as global banks retreat to their home markets
  • Dubai's real-estate market has been hit by a slump brought on by oversupply and slower economic growth

The fares on this new route are starting at  ₹1999*, IndiGo noted.
Girls click a selfie after collecting water for Kanwar Yatra from Narmada river on the first day Sawan month in Jabalpur. (ANI)
Girls click a selfie after collecting water for Kanwar Yatra from Narmada river on the first day Sawan month in Jabalpur. (ANI)

Kanwar Yatra app for pilgrims in Meerut

  • Kanwar Yatra app provides all information about the routes, temples, hospitals, police and camps in Meerut zone
  • The app can be downloaded from Google play store

A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.
A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.

Streaming sites a haven for niche films while blockbusters take to TV

  • Video streaming services have become a haven for experimental films that are unlikely to find theatrical draw
  • Impressions, a term used by the viewership measurement agency BARC, refer to the number of individuals in thousands of a target audience who viewed an event, averaged across minutes

On MCX, gold prices were down below  ₹35,000 per 10 gram
Glitch in Delhi Metro's Magenta Line Photo: PTI
 (Photo: iStock)
(Photo: iStock)

No new changes in online ITR forms, says CBDT

  • Online ITR forms were changed and updated on 1 April itself, while utility forms meant for partial online filing were updated with the changes in May
  • Updating of utility does not hamper filing of ITR as taxpayers can use utility available at any given point, said CBDT

HDFC Bank has hiked interest rates on FDs with maturity between 5 years and 10 years (HT)
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)

Apex court stays NCLAT verdict in Essar Steel insolvency case

  • The top court put on hold the sale of Essar Steel and said the NCLAT order should not be given effect to as of now
  • The court said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case

Oil tankers pass through the Strait of Hormuz. (Reuters )
One needs to submit composite claims form along with bank details and IFSC code for PF account transfer. (Photo: iStock)
Greenko Energy Holdings raised $950 million on Monday
A sharp drop in moped volumes dragged sales, mirroring the weak rural sentiment (Mint file)
A sharp drop in moped volumes dragged sales, mirroring the weak rural sentiment (Mint file)

TVS Motors braves slowdown in Q1, but uncertainty in sales loom ahead

  • TVS Motor’s 7.2% year-on-year growth in Q1FY20 net sales to 4,468.6 crore is impressive
  • While the management is confident of some revival in the festive season, it is also said that the second half FY20 would be less impressive than the year-ago period

Amara Raja's net sales of  ₹1,815 crore, a fraction higher than the year-ago period, was about 6% higher than the average estimate of 12 brokers on Bloomberg (HT file)
Amara Raja's net sales of 1,815 crore, a fraction higher than the year-ago period, was about 6% higher than the average estimate of 12 brokers on Bloomberg (HT file)

Will changing dynamics crimp Amara Raja’s earnings growth?

  • There are also challenges in the near term, with a price war on in the replacement market for auto batteries
  • Exide and Amara Raja will have to fight for a larger share of the replacement market, when the original equipment segment is dull

Payment Bank cannot accept deposits higher than  ₹1 lakh. (Photo: Mint)
File photo of Warren Buffett, CEO of Berkshire Hathaway Inc
File photo of Warren Buffett, CEO of Berkshire Hathaway Inc

Buffett’s lunch with crypto investor, who paid $4.5 million, postponed

  • Justin Sun bid a record $4.57 million this year to win the chance to dine with Buffett
  • Sun, who launched Tronix in 2017, said in June that he was hoping to educate Buffett on the benefits of crypto and the underlying technology, blockchain

The central government has decided to fix MSPs at least 150% of the cost of production for all kharif crops for 2018-19. Photo: Bloomberg
The central government has decided to fix MSPs at least 150% of the cost of production for all kharif crops for 2018-19. Photo: Bloomberg

Weak kharif season ups earnings challenges for agrochemical companies

  • Insufficient rainfall in several parts of the country has delayed sowing, which was down 6.8% as of last week, as compared to this time last year
  • A monsoon failure can accentuate earnings challenges for agricultural input providers, notably Rallis India and Dhanuka Agritech

Mukesh Bansal, co-founder and chief executive, CureFit. (Photo: Mint)
In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)
In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)

Lack of 5G spectrum for commercial use may push up auction prices

  • Of 300MHz, Isro and defence department have sought 100 and 25MHz, respectively
  • In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available

The decision comes despite the slew of defaults by IL&FS group, which has more than  ₹90,000 crore in debt. (Photo: Aniruddha Chowdhury/Mint)