P. Chidambaram in a vehicle along with CBI officials in New Delhi (Photo: Ramesh Pathania/Mint)
'Esops worth $150 million were sold by Paytm’s employees to New York-based investors nearly three months ago, valuing the company at $15 billion,' says Vijay Shekhar Sharma, founder of Paytm (File photo: Bloomberg)
'Esops worth $150 million were sold by Paytm’s employees to New York-based investors nearly three months ago, valuing the company at $15 billion,' says Vijay Shekhar Sharma, founder of Paytm (File photo: Bloomberg)

Paytm says valuation rose 25% to $15 billion

  • There are about 14 million merchants using Paytm services and it plans to increase the base to 24 million by the end of this fiscal
  • Currently, Paytm sees 800-900 million transactions a month

CBI officials arrest Congress leader P. Chidambaram from his Jor Bagh residence in New Delhi on Wednesday (Photo: PTI)
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The changing behaviour indicates that Indian consumers are now considering smartphones a necessary expense rather than a discretionary one (Photo: Bloomberg)
The changing behaviour indicates that Indian consumers are now considering smartphones a necessary expense rather than a discretionary one (Photo: Bloomberg)

Smartphones remain a must-buy even in overall slowdown season

  • Indian consumers are cutting back on spending during the slowdown, but are loath to skimp on smartphones
  • The smartphone market saw the highest-ever Q2 shipment of 36.9 mn units, registering a 9.9% yearly increase

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Gadkari’s comment comes at a time when the Indian automobile sector is staring at a slowdown (Pradeep Gaur/Mint)
Sebi also tightened regulations for credit rating agencies (Photo: PTI)
Sebi also tightened regulations for credit rating agencies (Photo: PTI)

Sebi relaxes FPI rules, share buyback norms

  • New norms are outcome of the Sebi board meeting, which collapsed 57 circulars into a single one
  • Sebi has decided that FPIs may be re-categorized into two categories - Categories I and II - instead of the present requirement of three categories

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Long Reads
Maruti Suzuki MD and CEO Kenichi Ayukawa (left) and the firm’s executive director, marketing and sales, Shashank Srivastava, during the launch of XL6 on Wednesday.
Maruti Suzuki MD and CEO Kenichi Ayukawa (left) and the firm’s executive director, marketing and sales, Shashank Srivastava, during the launch of XL6 on Wednesday.

Maruti sees new launches, govt steps putting sales back on track

  • Rollback of government plan to raise registration charges of new vehicles will boost sector, says automaker
  • XL6 will be offered with BS-VI compliant petrol engines in the price range of 9.79 lakh to 11.45 lakh

Amazon’s new campus is spread over 9.5 acres, and is its largest tech base outside the Seattle headquarters. (AFP)
Amazon’s new campus is spread over 9.5 acres, and is its largest tech base outside the Seattle headquarters. (AFP)

Amazon opens its largest campus in the world in Hyderabad

  • The new campus is the only one owned by Amazon outside the US and will house more than 15,000 employees
  • The move is part of Amazon’s expansion plans in India, where retail markets are still to a large extent driven by traditional neighbourhood stores

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US President Donald Trump is expected to meet PM Narendra Modi on the sidelines of the G7 meeting in Biarritz, France, later this week.  (Photo: PTI)
Governor of Karnataka Vajubhai Vala and Chief Minister of Karnataka B.S. Yediyurappa with newly inducted ministers during the swearing ceremony at Raj Bhavan in Bengaluru (Photo: ANI)
Governor of Karnataka Vajubhai Vala and Chief Minister of Karnataka B.S. Yediyurappa with newly inducted ministers during the swearing ceremony at Raj Bhavan in Bengaluru (Photo: ANI)

Putting a lid on dissent first of Yediyurappa’s many challenges

  • Karnataka CM has to contain the simmering dissent emanating from the allocation of cabinet berths
  • Many in BJP fear that 12 of the 16 vacant berths could be reserved for JD(S) and Congress rebels

Plain Facts
Ratul Puri (left), Madhya Pradesh chief minister Kamal Nath’s nephew, leaves the ED office in New Delhi on Tuesday. (Photo: PTI)
Ratul Puri (left), Madhya Pradesh chief minister Kamal Nath’s nephew, leaves the ED office in New Delhi on Tuesday. (Photo: PTI)

Delhi Court rejects Ratul Puri’s petition to cancel NBW

  • The court had said that his custodial interrogation was 'required for an effective investigation' as he was evasive in his replies during questioning
  • Puri, in his application in Delhi high court had challenged the 6 August order of a special court that had dismissed his anticipatory bail application

R K Singh, Union minister for power and new and renewable energy
R K Singh, Union minister for power and new and renewable energy

State electricity discoms won’t get free power, says RK Singh

  • By the first of August, I put in place a system by which the power gets dispatched only when a letter of credit is given
  • I have already told my ministry that the objective is to utilise all the water in our share and whatever scheme needs to be set up to utilise our share of the water should be done

The French southwestern seaside resort of Biarritz will host the 45th G7 nations annual summit on 24-26 August
The French southwestern seaside resort of Biarritz will host the 45th G7 nations annual summit on 24-26 August

Donald Trump seen rallying G7 members against China at France meet

  • It remains to be seen how the EU will respond to overtures of US at G7 meet, as many of them have invested in China
  • Leaders from the group of seven industrialized countries will gather in Biarritz for their 45th annual meeting amid worsening fears of recession, trade frictions, and climate change

 (Photo: PTI)
(Photo: PTI)

Opinion | Where the Irish and Kashmiri stories converge and diverge

Creating the kind of openness that Northern Ireland enjoys needs imagination and magnanimity

The new fund managers will be the custodians of the EPFO corpus from October this year
The new fund managers will be the custodians of the EPFO corpus from October this year

EPFO board hires SBI MF, two other AMCs as fund managers

  • EPFO has reiterated its commitment to pay an interest rate of 8.65% for 2018-19 despite the reservations of the finance ministry
  • The fund managers invest 85% of the EPFO money in debt investments and the remaining 15% in equity through ETFs

The rate cut earlier this month was the fourth in succession adding up to a total of 110 bps (Reuters )
 (Photo: Bloomberg)
(Photo: Bloomberg)

Opinion | Did business leaders misjudge the current slowdown?

After years of insisting that they are okay, they have set upon the alarm bells with ferocity

Photo: Mint
In Rewa, MP, creditors take children of debtor families into bonded labour mostly by paying 4-5 bags of wheat or rice, finds a study. (Photo: Ramesh Pathania/Mint)
In Rewa, MP, creditors take children of debtor families into bonded labour mostly by paying 4-5 bags of wheat or rice, finds a study. (Photo: Ramesh Pathania/Mint)

Agri families borrow more, eat less to cope with kin’s suicide: study

  • Average income of farm suicide families was just 3,523 per month in 2016-17, below 4,561 estimated by NSSO: study
  • The study found that 92% of farm suicide families were not enrolled under the centre’s flagship crop insurance scheme

The four-year-old startup is looking to make housing affordable for students, working professionals, and freshers (Photo: Company website)
The four-year-old startup is looking to make housing affordable for students, working professionals, and freshers (Photo: Company website)

Co-living platform Zolostays in talks to raise up to $100 mn

  • Firm will use the capital to increase its inventory size and upscale furnishing options across its current inventory
  • Zolostays had last raised $30 million in its Series B round in January from investors including IDFC Alternatives, Mirae Asset, and Nexus Venture Partners

US President Donald Trump. (AP)
The average revenue per person increased to  ₹90.02 in 2018 from  ₹71.25 in 2014. Photo: Pradeep Gaur/Mint
The average revenue per person increased to 90.02 in 2018 from 71.25 in 2014. Photo: Pradeep Gaur/Mint

Mobile data price down by 95% but revenue up 2.5 times in 5 yrs: Trai

  • The average cost to subscriber for wireless data in the year 2014 was 269 per GB and 226 per GB in 2015
  • The data usage in the country increased by 56 folds to 46,404 million GB in 2018 from 828 million GB in 2014

Prime Minister Narendra Modi(Photo: PTI)
Prime Minister Narendra Modi(Photo: PTI)

'Howdy, Modi' event in Houston sold out, over 50,000 people register

  • The live audience will be the largest ever for an Indian Prime Minister in North America and also the largest for a foreign leader in the US other than Pope Francis
  • "Howdy", short for 'How do you do?', is a friendly greeting commonly used in southwestern United States

SBI chairman said increased use of digital platform will itself reduce the requirement of the debit cards (Reuters)
SBI chairman said increased use of digital platform will itself reduce the requirement of the debit cards (Reuters)

SBI says no plans to discontinue debit cards

  • SBI is planning to establish nearly 10 lakh YONO Cash Points in the country over 18 months
  • YONO is a digital banking platform of State Bank of India

Nifty hovers around 11,000-mark, Sensex continues to be volatile, (Photo: Aniruddha Chowdhury/Mint)
Depending on the food aggregator and what services restaurants avail from them, restaurants pay anywhere between 10-30% of the value of each order as commission to aggregators (Photo: Alamy)
Depending on the food aggregator and what services restaurants avail from them, restaurants pay anywhere between 10-30% of the value of each order as commission to aggregators (Photo: Alamy)

The revolt against food delivery apps

Ordering in is now an indispensable part of daily life. That’s why restaurants are getting that sinking feeling

Maruti Suzuki XL6
P.Chidambaram at a press conference in New Delhi at AICC headquarters (Photo: ANI)
Photo: Reuters
Coffee Day has about 1,700 outlets
Coffee Day has about 1,700 outlets

ITC looks at buying stake in Coffee Day: Report

  • Coffee Day is under pressure to pare borrowings
  • A successful bid for Coffee Day will help ITC further diversify its business

Sebi chairman Ajay Tyagi (File photo: Mint)
Sebi chairman Ajay Tyagi (File photo: Mint)

Sebi eases requirements for FPIs

  • FPIs to be recategorized into two categories from three currently
  • Sebi allows offshore funds of Indian mutual funds to invest as FPIs as it approves recommendations by H.R. Khan committee on FPI norms

A file photo of Zomato CEO Deepinder Goyal
 (Reuters)
Congress MP Karti Chidambaram (Photo: PTI)
Weeks of protests, which have morphed from opposing an extradition bill into a mass repudiation of China’s hold over Hong Kong, are starting to bite the city’s property market.
Weeks of protests, which have morphed from opposing an extradition bill into a mass repudiation of China’s hold over Hong Kong, are starting to bite the city’s property market.

Hong Kong rents set to fall as protests curb housing demand

  • Real estate professionals forecast rents on Hong Kong’s main island to fall 2% in the next year
  • Residential rents climbed almost 8% in the two years through June, to be near a record-high

In the last hearing, the court had dismissed the plea of Vadra to not take any coercive action against him in a case of money laundering
Hyderabad Public School (File photo Wikipedia)
US President Donald Trump. (AP)
Ookla co-founder and general manager Doug Suttles.

NMC: What it means for medical education system in India?

Touted as one of the biggest reforms in medical education in India, the National Medical Commission (NMC) Act, 2019, attempts to set up a regulatory body called the National Medical Commission in place of the scam tainted Medical Council of India (MCI). The video tries to attempt whether or not as claimed by the government, will this ambitious legislation provide for a medical education system that improves access to quality and affordable medical education, and ensures availability of adequate and high quality medical professionals in all parts of the country?

George Institute for Global Health analyzed more than 400,000 food and drink products from 12 countries and territories around the world. (HT)
George Institute for Global Health analyzed more than 400,000 food and drink products from 12 countries and territories around the world. (HT)

Indian packaged foods least healthy in world: survey

  • India’s packaged foods and drinks were found to be the most energy-dense (kilojoule content 1515 kJ/100 g) in a survey of 12 countries, according to George Institute for Global Health
  • According to the study, China’s drinks were some of the healthiest in the survey

Intel unveiled eight additional 10th Gen Intel Core processors for modern laptop computing. Photo: AP
Intel unveiled eight additional 10th Gen Intel Core processors for modern laptop computing. Photo: AP

Intel unveils 8 new 10th Gen mobile PC chips: Find out what's the difference

  • The new processors enable up to 16% overall performance gains and over 41% better productivity and multitasking on Microsoft Office 365 compared to the previous generation
  • The 10th processors range from Intel Core i3 to Intel Core i7 and feature up to 6 cores and 12 threads and up to 4.9 GHz max turbo frequency

 (Photo: Twitter)
(Photo: Twitter)

Gaming firm Nazara acquires Sportskeeda

  • Investments and acquisitions have been a key part of Nazara’s growth strategy, with bets in the past year or so including fantasy gaming platform HalaPlay, and real money quiz app Qunami
  • Nazara has invested 44 crore for a 67% stake in the popular sports content portal, valuing it at about 65 crore

(Photo: AP)
OYO says employees will be recruited across multiple functions, including business development, operations, service, sales and enterprise partnerships
OYO says employees will be recruited across multiple functions, including business development, operations, service, sales and enterprise partnerships

OYO to add over 3,000 employees in India over 6 months

  • OYO says the development is aligned with its commitment towards investing 1,400 crore by the end of 2019 in India, South Asia business
  • OYO is currently present across over 300 Indian cities and has over 2 lakh keys as part of its chain of more than 10,000 franchised, leased hotels in the country

 (Photo: iStock)
 (Photo: Mint)
Cristiano Ronaldo (Photo: Reuters)
Juventus coach Maurizio Sarri  (Photo: Reuters)
Juventus coach Maurizio Sarri (Photo: Reuters)

Juventus coach Maurizio Sarri has pneumonia

  • Juventus said that Sarri had been present at the club's training centre on Monday "where he coordinated the work of his staff" but did not conduct training on the pitch
  • Juventus did not say whether Sarri would be able to take charge of the team at Parma on Saturday

A file photo of Anil Kumble. (Photo: Hindustan Times)
 (Photo: Mint)
Former Union Minister P. Chidambaram (File photo: ANI)
AITA General Secretary Hironmoy Chatterjee (Photo: ANI)
Beautiful landscaping has been done along the Blue Line-Aqua Line Metro walkway to provide aesthetic appeal. (@OfficialDMRC)