IndiGo says will respond to corporate affairs ministry soon

• IndiGo’s response comes days after Rakesh Gangwal wrote to Sebi in early July, seeking its intervention to curb alleged corporate governance violations by Rahul Bhatia
• Sebi has asked IndiGo to respond by 19 July

Foreign investors could register as companies to get tax relief: Sitharaman

• Finance minister Nirmala Sitharaman increased taxes on anyone earning an annual incomes of more than ₹2 crore that will also cover trusts
• The new rate will include 25% surcharge on income between ₹2 crore and ₹5 crore, and 37% on income exceeding ₹5 crore a year

Rana Kapoor loses $1 billion as Yes Bank shares slump 78% since August

• Kapoor owns just over 10% of Yes Bank shares, including through his two holding companies, Yes Capital (India) Pvt and Morgan Credits Pvt
• Last year, he pledged never to sell his shares, vowing to pass them on to his daughters

Sebi tweaks disclosure norms for listed banks

• The changes made in the disclosure norms are in line with the revised RBI requirements
• As per the circular, listed banks will have to disclose to the stock exchanges divergences in the asset classification

Investors cheer Wipro’s cash return policy, can they ignore capital loss risk?

• Hardly, anyone is hoping for company's growth revival in the second half of the year
• Wipro’s dividends and buybacks translate into a 6% yield for investors, which is nothing to sneeze at

Fifth CPSE ETF tranche set to open tomorrow

• The 2019 budget has proposed to include CPSE ETFs in the ELSS category that is eligible for tax deduction, but past returns have not been inspiring
• Since CPSE ETFs may now come in the ELSS category, investors may have to contend with a three-year lock-in

Seven indirect tax related laws being amended: Nirmala Sitharaman

• The government would also be bringing changes to seven laws related to direct taxation
• The GST alone has five different amendments that would make compliance easier for the MSME sector

It's hard to feel the love for 'The Lion King'

• This is a photorealistic remake of the 1994 animated Disney film
• Director Jon Favreau can’t capture the excitement of his 2016 ‘Jungle Book’ remake

MG Motor stops bookings for Hector to ensure customer satisfaction

• Morris Garages has a total capacity of 84000 units in its manufacturing plants in Halol
• According to the company, the top two variants – Smart & Sharp – have registered the highest demand, with over 50% reservations for the petrol variants

Are mobile phones a flight danger? They are on these Boeing jets

• Passenger cellphones could pose a crash threat to some models of Boeing 737 and 777 airplanes
• Many airlines now permit passengers to turn their phones to “airplane mode,' which allows Wi-Fi transmissions

Before filing your tax returns this year, calculate and pay self-assessed tax

• Taxpayers are required to pay tax on the consolidated income from all the five sources of income—income from salary, business and profession, house property, capital gains and other sources
• Tax can be paid either offline at designated branches of banks empanelled with the I-T department, by filling up challan 280 or online through Incometaxindia.gov.in

The rise and fall of 'Dosa King' Rajagopal

• P Rajagopal opened his first hotel in 1981 and the rest was history
• Hailing from Punnai Nagar village in Tuticorin, he started off as a grocer, like many from his Nadar community are known to

Indian warships to stay longer in Persian Gulf, but won't join US coalition

• Donald Trump has been putting pressure on European and Asian allies to shoulder security responsibilities and not depend on the United States alone
• India is the biggest buyer of Iranian oil after China

Dubai's big spenders tighten purse strings

• The introduction of a 5% value-added tax last year and weaker consumer confidence in an economy which grew 1.94% in 2018, the slowest since 2009, have hurt retailers
• The retail economy of one of the world's leading shopping capitals has suffered from lower oil and property prices

Rafale will provide IAF strategic deterrence: Defence Ministry

• IAF used the Mirage-2000 to struck a terror camp in Balakot in Pakistan in February this year
• The delivery of the aircraft, capable of delivering nuclear warheads, is likely to begin from September this year

Credit, deposit growth manage to remain in double- digits

• Personal loan growth slowed to 16.9% in May from 18.6 percent in the year ago period
• On a year-on-year basis as of May, non-food credit increased 11.4% from 11.1%

Power tariff regulator stays Andhra Pradesh's decision to slash Greenko's PPA

• Greenko had appealed against AP’s decision to slash tariff from Rs3.74 per kWh to Rs2.44 per kWh retrospectively from Oct. 27, 2017
• Aptel directs AP’s power distribution utility to continue making payments to Greenko at the earlier rate of Rs3.74 per kWh

InterGlobe Aviation board meet on Friday amid promoter spat

• Shares of the company have taken a beating since the promoters' spat became public on 9 July
• Rahul Bhatia and his IGE Group have about 38% shareholding in InterGlobe Aviation

Colgate-Palmolive Q1 results: No nasty surprises bring cheer

• The general consumption slowdown in the country had kept investor expectations for consumer companies under check
• Colgate’s domestic sales of toothpaste and other oral care products rose 6% in Q1, on the back of a 4% increase in volumes over the year-ago period

EU fines chipmaker Qualcomm for 'predatory pricing'

• Qualcomm said it plans to appeal Thursday's fine to an EU court and denied the charges
• The fine of 242 million euros represents 1.27% of Qualcomm's 2018 revenue

Netflix to roll out cheaper mobile-only subscription plan in India

• Netflix's new subscription plan is aimed at battling cheaper offerings from rivals such as Amazon Prime Video and Hotstar
• Netflix currently offers three monthly plans in India, priced between ₹500 rupees and ₹800

Asian Development Bank to give ₹1,540 crore for Tripura power projects

• Tripura, a power surplus state, is supplying 190 MW to Bangladesh and 40 MW to Nepal
• The Department of Economic Affairs under the Union Finance Ministry had communicated it to TSECL and given its green signal to the ADB for taking appropriate steps

New amendments to IBC will protect interest of homebuyers: Centre to SC

• The counsel appearing for the homebuyers had said they apprehend that JIL may be sent for liquidation which could hamper their interest
• The Centre told this to a bench comprising justices A M Khanwilkar and Dinesh Maheshwari, hearing the homebuyers matter of Jaypee Infratech Ltd

Telecom, retail to negate weakness in RIL’s refining, petchem business in Q1

• According to a Bloomberg poll of 11 brokers, RIL's consolidated net sales are expected to come in at ₹1.45 trillion and net profit is estimated at ₹9,706.20 crore by 13 brokers
• Analysts expect RIL's gross refining margin to be $8-$8.5 per barrel

eBay logs into Paytm Mall with 5.5% stake, eyes pie of online retail

• eBay is investing $165 million in Paytm Mall,
• The value of Paytm Mall has now risen to about $3 billion from $1.5-2 billion last year

Trevor Bayliss replaces Tom Moody as Sunrisers Hyderabad head coach

• Trevor Bayliss will step down from his current role with the England team after the Ashes beginning next month
• Former Australian all-rounder Moody was in charge of Sunrisers for the past seven years and guided them to the trophy in 2016

Monsoon rains 20% below average in past week, raising crop worries

• India has received 16% below average rain since the monsoon season began on June 1
• Monsoon rains turned patchy over the central, western and southern parts of the country, raising concerns over the progress of crop plantings

World Cup 2019: Withdrawal symptoms

• A fan looks back at ‘bits and pieces’ of the recently concluded Cricket World Cup in England
• To call it a bowler’s tournament would not be a stretch, and that can only be good for the game

Opinion | Bright sparks in a dismal market

Amidst flagging sales all around, customers are queuing up for two new launches — Kia Motors' Seltos SUV and MG Motor India's Hector SUV

India's current account balance deficit grew to $68bn in 2018-19: IMF

• India's overall international reserves, though stood at $411.9 billion at the end of March this year, down from March last year by $12.5 billion
• The IMF said that India has to attract more stable sources of financing to reduce vulnerabilities

When pregnant women don’t face bias at work

• Despite companies trying to create a gender-neutral image, pregnancy discrimination while hiring is still very real
• Here’s what happens when firms embrace expectant mothers

Bring Hafiz Saeed to justice, India urges Pakistan

• This is not the first time that Hafiz Saeed has been arrested or detained. This drama has taken place at least eight times since 2001: Indian foreign ministry spokesman Raveesh Kumar
• 'The question is whether this time Saeed will be tried and sentenced for his terrorist activities'

Saravana Bhavan founder P Rajagopal dies in Chennai

• Saravana Bhavan owner P Rajagopal died at a private hospital in Chennai
• He was sentenced to life imprisonment in a murder case

Flood fury forces Kaziranga tiger to take shelter in shop

• Several famed one-horned rhinoceros and other animals have reportedly died in the floods
• Over 95% of the Park is submerged, rendering animals shelterless and forcing them to look for refuge in human habitations

Indian bug hunter finds flaw in Instagram, wins $30,000

• The first bug could have zapped all your photos without knowing your password
• The second meant tricking you to install an innocent-looking mobile app that could riffle through all your Facebook pictures without being given access to your account

ADB cuts India GDP growth forecast to 7% for FY20

• Agriculture is expected to grow at a healthy rate in 2019-20 as current weather trends indicate a normal monsoon
• Growth is expected to inch up again to 7.2% in 2020-21, helped by recent reforms

For clues to Bitcoin price movement, the new place to go: Social media

• Hedge funds and asset managers seeking an edge are training computers to scrape social media sites
• Bitcoin, the biggest cryptocurrency has surged over 180% this year

Inclusive growth dividend - an alternative income transfer

Pegged at 1% of India's GDP, the Inclusive Growth Dividend would cut down targeting costs and boost consumption for the poor

Arun Jaitley slams Pakistan’s subversion of diplomatic norms in Kulbhushan case

• Jaitley, who had served as the Union defence minister in 2017, debunked claims by Pakistan of the judgment being a victory for the neighbor country
• External affairs minister Subrahmanyam Jaishankar has now pressed for repatriation and release of Kulbhushan Jadhav

Wipro’s struggle with growth will leave investors unimpressed

• Management is hopeful that healthy deal pipeline will strengthen growth in rest of the fiscal year
• Softness in BFSI, and delays in ramp-up of projects weighed on the revenue growth

Govt issues notice to Tiktok, Helo; asks to answer queries or face ban

• The government has sought reply from TikTok, Helo on allegation that these platforms have become 'a hub of anti-national activities'
• The government has sought assurance that the data of Indian users are not being transferred at present and will not be transferred in future

Chandrayaan-2 set for new launch on 22 July afternoon, announces Isro

• The agency had completed the filling of fuel into the cryogenic stage of the rocket
• The mission comes around 11 years after the space agency’s maiden journey to the moon