Finance minister Nirmala Sitharaman (Reuters file)
Videos
View All
 (Photo: Mint)
Vodafone Idea has made huge losses in the last three financial quarters (Bloomberg file)
Vodafone Idea has made huge losses in the last three financial quarters (Bloomberg file)

Vodafone Idea CEO Balesh Sharma resigns

  • Balesh Sharma will take up a new role with the Vodafone Group
  • Ravinder Takkar, currently Vodafone Group’s representative in India, has been appointed as his successor with immediate effect

The Indira Gandhi International Airport at New Delhi can currently handle upto 75 million passengers a year. (AP )
The Indira Gandhi International Airport at New Delhi can currently handle upto 75 million passengers a year. (AP )

IndiGo and SpiceJet to shift operations from Delhi's terminal 2 to terminal 3

  • IndiGo will shift a part of its operations to terminal 3 from terminal 2, SpiceJet will shift its entire operations to terminal 3 from terminal 2
  • GoAir, which also operates from terminal 2 in New Delhi, will not shift its operations to terminal 3

A file photo of former RBI Governor Raghuram Rajan (Bloomberg)
Finance minister Nirmala Sitharaman (PTI file)
As Trump continues his vocal campaign criticizing the Fed, the NABE survey found economists are concerned about the impact (Photo: Reuters)
As Trump continues his vocal campaign criticizing the Fed, the NABE survey found economists are concerned about the impact (Photo: Reuters)

US economists expect recession in the next 2 years

  • The survey came out after Donald Trump pushed back against talk of a looming recession as a raft of US data reports last week showed a mixed picture on the economy
  • The survey showed 38% economists expect a contraction of growth next year, while 34% don't see it until the following year

Saudi women enter the railway station in Dammam, Saudi Arabia.  (Reuters )
Saudi women enter the railway station in Dammam, Saudi Arabia. (Reuters )

Saudi women get a new right: Allowing their kids to travel

  • Crown Prince Mohammed bin Salman has put loosening social restrictions at the heart of his economic transformation plan for Saudi Arabia
  • Saudi women’s rights activists have campaigned for years against the kingdom’s guardianship system

Day’s most important news delivered to your inbox with our newsletters!

Subscribe for free
Huawei, China’s largest technology company by sales, has been at the heart of worsening tensions between Washington and Beijing. (Reuters)
Huawei, China’s largest technology company by sales, has been at the heart of worsening tensions between Washington and Beijing. (Reuters)

Wilbur Ross says US to ease Huawei sanctions for another 90 days

  • Some telecom companies in the US are 'dependent' on Huawei, and thus a 90-day reprieve was deemed appropriate, says Ross
  • The announcement follows an upbeat tweet from Trump indicating the US was ‘doing very well with China, and talking’

RBI governor Shaktikanta Das addresses a session at the FIBAC 2019, in Mumbai on Monday (PTI)
RBI governor Shaktikanta Das addresses a session at the FIBAC 2019, in Mumbai on Monday (PTI)

RBI governor's pill for the economy: Positive attitude

  • The mood today ranges from existential angst to a positive attitude: Shaktikanta Das
  • 'One does realise that there are challenges in the economy, severe external global headwinds and India cannot live in isolation'

 (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

RBI governor Shaktikanta Das (Reuters file)
RBI governor Shaktikanta Das (Reuters file)

RBI to 'formalise' linking of loans to external benchmark

  • I think the time has come to formalise the linking of the lending rates on new loans to external benchmarks like the repo rate: RBI governor Shaktikanta Das
  • 'We are monitoring the developments in this regard and whatever steps are required in the coming weeks, will be taken by the RBI'

The family’s Walmart stake paid out about $3 billion of dividends over the past year
The family’s Walmart stake paid out about $3 billion of dividends over the past year

How the world's richest family invests its wealth

  • For now, the Walton family’s holdings outside of Walmart are a fraction of their overall wealth
  • But that is shifting

Mint Views: Pre-filled mutual funds gains info may boost tax compliance

Capital gains tax dues to show up on a tax assesses's IT e filing interface. Revenue department is in talks with the Securities and Exchange Board of India (SEBI) to work out a mechanism on this front . This will help millions of retail investors file returns on their own without being having to relied upon the CA to do the calculation. The move is expected to ease up the procedure for tax payers . If this gets implemented then it will bring in further tax compliance and ensure ease and efficiency both for tax payers and tax authorities. Watch a daily dispatch from Mint's Views team sharing their views and decoding implications on key issue of the day.

Ikea India currently has more than 55 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain (AP)
Ikea India currently has more than 55 suppliers with 45,000 direct employees and 400,000 people in the extended supply chain (AP)

IKEA products can now be ordered online in Mumbai. Check out opening offers

  • Mumbai will see a multichannel offer including smaller format stores, and a big format store in Navi Mumbai, IKEA said in a statement
  • IKEA's online store is offering 1,000 products, including storage boxes and doormats, priced below 200

Long Reads
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

Plain Facts
A Pakistani post opposite the RAJOURI sector (J&K) has been hit in action by Indian Army .  (ANI )
A Pakistani post opposite the RAJOURI sector (J&K) has been hit in action by Indian Army . (ANI )

'Army was ready for conventional war with Pakistan in run up to Balakot strikes'

  • In the wake of Pakistan's sharp reaction to India's decisions on Jammu and Kashmir, the Army has been put on high alert along the Line of Control
  • The Indian Army was prepared for a conventional warfare with Pakistan which would have included going inside Pakistan

 (Photo: HT)
A chopper of the Indian Air Force. (PTI )
Hong Kong's economy clocked in at 2.8 trillion Hong Kong dollars ($363 billion) in 2018 but at a slower 3% growth rate
Hong Kong's economy clocked in at 2.8 trillion Hong Kong dollars ($363 billion) in 2018 but at a slower 3% growth rate

China plans to make Shenzhen a 'better place' than Hong Kong

  • Weeks of rallies, demonstrations have plunged Hong Kong into crisis — which Beijing is now framing as an opportunity for Shenzhen's development
  • By 2035, Shenzhen will 'lead the world' in overall economic competitiveness, the released by the Chinese govt said

Nestle India MD Suresh Narayanan. Photo: Bloomberg
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

 (Reuters)
A still from La La Land
India is looking to achieve what Tesla has done at its Gigafactory in Nevada, US (Photo: Reuters)
RailTel has now roped in Tata Trust for providing the facility at remaining stations in the country. (ANI )
RailTel has now roped in Tata Trust for providing the facility at remaining stations in the country. (ANI )

Railways landmark: 3000th station gets Wi-Fi, 1000 enabled in just 15 days

  • The railways' free Wi-Fi facility at stations began from Mumbai Central in January 2016 and within 16 months it was live at 1,600 stations across India
  • The railways plans to provide free Wi-Fi facility at all its stations, around 6,000

A still from the movie 'Mission Mangal'.
SoftBank reported first-quarter profit that beat the highest analyst estimate
Cass R. Sunstein, the Robert Walmsley University Professor at Harvard
 (Reuters)
Photo: Aniruddha Chowdhury/Mint
Photo: Aniruddha Chowdhury/Mint

FinMin mulls stress fund for infra sector: Housing Secretary

  • NAREDCO and real estate industry body CREDAI too have been demanding creation of stress fund to complete stuck projects
  • Home buyers of the national capital region are most affected with developers like Jaypee Infratech, Amrapali and Unitech defaulting in completing their housing projects on time

Japan, India and New Zealand will lose 10 per cent of their income, researchers said. (Mint)
Japan, India and New Zealand will lose 10 per cent of their income, researchers said. (Mint)

Climate change may shrink India's economy by 10%: Study

  • Prevailing economic research anticipates the burden of climate change falling on hot or poor nations, said researchers from the University of Cambridge in the UK
  • Some predict that cooler or wealthier economies will be unaffected or even see benefits from higher temperatures

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

Jammu and Kashmir Governor Satya Pal Malik with NSA Ajit Doval during a function on the occasion of 73rd Independence Day, at Sher-e-Kashmir Cricket Stadium, in Srinagar. (PTI )
Jammu and Kashmir Governor Satya Pal Malik with NSA Ajit Doval during a function on the occasion of 73rd Independence Day, at Sher-e-Kashmir Cricket Stadium, in Srinagar. (PTI )

NSA Ajit Doval briefs Amit Shah on Kashmir situation

  • Doval, who had recently spent around 11 days in the Valley amid the security lockdown, returned to Delhi recently
  • It was Doval's first direct briefing for the Home Minister at his office

Crypto behemoth Binance is planning a rival to Facebook’s Libra

  • Binance said it plans to create an independent 'regional version of Libra' —the digital coin being developed by Facebook and partners
  • Binance CEO Zhao 'CZ' Changpeng said its open blockchain project, Venus, is intended to 'empower developed and developing countries to spur new currencies'

Facebook Inc said that it cannot share the Aadhaar number with a third party as the content on its instant messaging Whatsapp was end-to-end encrypted and even they do not have access to it.. Photo: Mint
Facebook Inc said that it cannot share the Aadhaar number with a third party as the content on its instant messaging Whatsapp was end-to-end encrypted and even they do not have access to it.. Photo: Mint

Social media accounts need to be linked with Aadhaar to check fake news, SC told

  • The suggestion was made by the Tamil Nadu government which is facing resistance from Facebook Inc
  • Facebook claims that its Whatsapp messages are end-to-end encrypted

Photo: iStockphoto
 (Mint file)
FILE - In this Aug.9, 2018, file photo, Indian customers return after shopping at IKEA's first store in India as it opened in Hyderabad, India. (AP)
FILE - In this Aug.9, 2018, file photo, Indian customers return after shopping at IKEA's first store in India as it opened in Hyderabad, India. (AP)

IKEA enters Mumbai market with online store

  • Unlike most of its global markets, IKEA has adopted a multichannel strategy in Mumbai
  • Through IKEA’s online portal, customers in Mumbai can access to over 7,500 of its products

 (Reuters )
Jio is now hoping to repeat the feat in fixed line broadband space. (Reuters)