Finance Minister Nirmala Sitharaman with Finance Secretary Rajeev Kumar at a press conference in New Delhi to announce growth measures for Indian economy (Photo: Pradeep Gaur/Mint)
Booster Dose for Economy
A worker places US and China flags. (Reuters)
A worker places US and China flags. (Reuters)

China hits back at US with tariffs on $75 billion of imports

  • An extra 5% tariff will be put on American soybeans starting next month, and a 25% duty on US cars will resume 15 Dec
  • China announced that it will impose additional tariffs on a total of $75 billion of US goods

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P Chidambaram (Mint file)
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Maruti will will inspect 40,618 vehicles of WagonR (1 litre)
Maruti will will inspect 40,618 vehicles of WagonR (1 litre)

Maruti Suzuki voluntarily recalls over 40,000 units of WagonR

  • Starting 24 August, 2019, owners of the suspected WagonR models will be contacted by Maruti Suzuki dealers for inspection and replacement of the faulty parts, free of cost
  • 40,618 WagonR vehicles (1 litre) will be inspected for a possible issue of 'fuel hose fouling with metal clamp'

Plain Facts
The logo of OYO.  (REUTERS)
The logo of OYO. (REUTERS)

Oyo buys Las Vegas Hooters Hotel in its first US purchase

  • Founded in 2013, OYO Hotels & Homes is the world’s third-largest chain of hotels, homes, managed living and workspaces
  • Valued at about $10 billion, Oyo now caters to an increasing number of corporate travellers

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Long Reads
Air India currently has a debt of over  ₹55,000 crore (Mint file)
Finance minister Nirmala Sitharaman during a press conference, in New Delhi on Friday (Pradeep Gaur/Mint)
Finance minister Nirmala Sitharaman during a press conference, in New Delhi on Friday (Pradeep Gaur/Mint)

Sitharaman reiterates efforts to deepen bond market

  • The Credit Guarantee Enhancement Corp will now be available for infrastructure and housing projects to enable debt flow
  • The government will work with the RBI and Sebi to enable stock exchanges to allow AA-rated bonds as collateral

Naresh Goyal. (PTI )
The move is likely to nudge additional lending of  ₹5 trillion (Mint file)
 (Mint file)
The logo of Union Bank of India is pictured on the wall of its branch in Kolkata. (Reuters)
The logo of Union Bank of India is pictured on the wall of its branch in Kolkata. (Reuters)

Union Bank too links home, auto loans to repo rates

  • State Bank and seven other state-run banks have announced that their new loans and deposits will be priced to the repo-rate
  • Vehicle loans will be offered at 8.60% to borrowers with good credit score

Union Finance minister Nirmala Sitharaman addresses a press conference in New Delhi on Friday. (Photo: ANI)
Union Finance minister Nirmala Sitharaman addresses a press conference in New Delhi on Friday. (Photo: ANI)

Opinion | Sitharaman’s credit nudge

Nirmala Sitharaman's message is clear: Lenders need not hold back on advancing loans to deserving borrowers

Acharya Balkrishna. (Ramesh Pathania/Mint)
Acharya Balkrishna. (Ramesh Pathania/Mint)

Ramdev's aide Balkrishna admitted to AIIMS

  • Balkrishna, who heads Patanjali Yogpeeth, was first taken to a hospital in Haridwar
  • Balkrishna was admitted in a state of 'altered consciousness'

 (iStock)
Finance Minister Nirmala Sitharaman said the government had decided to withdraw higher surcharge on FPIs
Finance Minister Nirmala Sitharaman said the government had decided to withdraw higher surcharge on FPIs

Income tax changes to 'cheaper' home, auto loans explained in 10 points

  • The government will withdraw enhanced surcharge on long-term/short-term capital gains arising from transfer of equity shares/units
  • Banks have agreed to effect timely rate cuts to pass on the benefits of RBI's repo rate cuts to borrowers: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman during a press conference in New Delhi (Photo: Pradeep Gaur/Mint)
Around 300 cameras have been installed at different spots at the 13 RFID toll plazas that will live stream videos to a control room set up in Mochi Bhag.
Around 300 cameras have been installed at different spots at the 13 RFID toll plazas that will live stream videos to a control room set up in Mochi Bhag.

RFID tags mandatory for commercial vehicles after three weeks: SDMC

  • Non-RFID vehicles will have to pay penalties in order to enter the city from Friday midnight
  • The SDMC has also come up with a mobile application, "MCD TOLL", to make recharge of RFID tags hassle-free

 (HT File)
Finance Minister Nirmala Sitharaman (ANI )
Future Group founder Kishore Biyani (Photo: Abhijit Bhatlekar/Mint)
Naresh Goyal (Reuters file)
 (Photo: Mint )
(Photo: Mint )

Opinion | Why doctors worry about locally made medical devices

The big question is: What is the quality of care we are offering our patients?

 (PTI)
Health Minister Harsh Vardhan at the inauguration of the state-of-the-art National Food Laboratory of FSSAI (Photo: @PIB_India)
Health Minister Harsh Vardhan at the inauguration of the state-of-the-art National Food Laboratory of FSSAI (Photo: @PIB_India)

Beleaguered FSSAI looks at PPP to tackle food adulteration

  • There is a shortage of manpower in government laboratories across India, which hampers food testing functions of the laboratories, says FSSAI CEO
  • To implement the PPP model in food safety sector, apex food regulator on Friday launched the National Food Laboratory in Ghaziabad

On Thursday, Yes Bank shares plummeted as much as 14% before closing 8.21% lower at  ₹56.30, a five-year low (MINT_PRINT)
Finance minister Nirmala Sitharaman (Reuters file)
Future Retail has a network of more than 1,500 stores across various formats including 293 BigBazaar stores. (Mint)
Future Retail has a network of more than 1,500 stores across various formats including 293 BigBazaar stores. (Mint)

Amazon, Future group deal to intensify competition in India's retail Industry

  • On Thursday, Kishore Biyani's group company Future Coupons said that Amazon is acquiring a 49% stake in Future Coupons
  • This is the third investment by Amazon in an Indian brick and mortar retail business following Shoppers Stop and More

 (Mint file)
Earlier this month, DHFL said that its draft resolution plan submitted to lenders spares creditors from having to take haircuts on principal payments (Photo: Pradeep Gaur/Mint)
Earlier this month, DHFL said that its draft resolution plan submitted to lenders spares creditors from having to take haircuts on principal payments (Photo: Pradeep Gaur/Mint)

Lenders of DHFL set to declare 65% of its debt as unsustainable

  • DHFL shares fell nearly 13% on Thursday over speculation that lenders may take a majority stake in it
  • Of the total unsustainable debt of DHFL, 760 crore will be converted into equity at 54 per share

The  ₹20,000 crore is in addition to  ₹10,000 crore support announced earlier by the housing sector regulator NHB.
The Hindi version of Angry Birds is being voiced by comedian Kapil Sharma and two other talents from his TV show
A SpiceJet aircraft. (AP)
P Chidambaram (Mint file)
Earlier this month, the RBI pared its growth projection for 2019-20 to 6.9% from its June forecast of 7%, while reducing policy rates by 35 basis points (Mint file)
Earlier this month, the RBI pared its growth projection for 2019-20 to 6.9% from its June forecast of 7%, while reducing policy rates by 35 basis points (Mint file)

Moody's cuts India GDP growth forecast to 6.2% for 2019

  • Moody’s said the RBI has been most active in cutting rates in support of growth
  • However, lingering financial sector issues may blunt the effectiveness of monetary stimulus, it added

Prime Minister Narendra Modi greets the Indian community in France at the UNESCO headquarters in Paris on Friday (PTI via Twitter/MEA)
Prime Minister Narendra Modi greets the Indian community in France at the UNESCO headquarters in Paris on Friday (PTI via Twitter/MEA)

There is no space for anything temporary in India anymore, says PM Modi

  • 'It took us 70 years to remove temporary. I do not know if I should laugh or cry about it'
  • 'There is no question of getting tired or stopping now... The government has taken many bold decisions in its first 75 days'

India wants its automobile industry to progressively shift to electric vehicles as part of its strategy to fulfil its climate change commitments (Mint file)
India wants its automobile industry to progressively shift to electric vehicles as part of its strategy to fulfil its climate change commitments (Mint file)

NDA house divided on electric mobility plan

  • Transport minister Nitin Gadkari who is of the view that the Centre will not set a specific deadline for automakers to switch to EVs
  • NITI Aayog on 21 June asked the automobile industry to submit a plan on banning ICE-fitted two-wheelers under 150 cc by 2025, and three wheelers by 2023

TDP chief N. Chandrababu Naidu (Photo: Mint)
Shapoorji Pallonji was founded in 1865. Photo: Reuters
Photo: iStockphoto
In the wake of the US-China trade war, the company has recently launched its own operating system. Photo; Reuters
In the wake of the US-China trade war, the company has recently launched its own operating system. Photo; Reuters

Huawei has no plan to launch Harmony OS phone this year

  • Huawei's senior VP said has no plans to launch a Harmony OS-powered smartphone in the coming months
  • Huawei recently launched its own operating system which is aimed to reduce the company's reliance on the Google-developed Android OS

Former cricketer Sunil Gavaskar with President Donald Trump at the Trump Bedminster Golf Course in New York (Photo: PTI) (PTI)
The company has also decided to update its logo and brand colour. (Company Photo)