During the last week, the Sensex advanced 403.22 points or 1.09%. (Photo: PTI)
Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia on Saturday,  (Photo: Reuters)
FM Sitharaman said the existing schemes for refund of duties and taxes to exporters will continue till the end of this year (Photo: Ramesh Pathania/Mint)
FM Sitharaman said the existing schemes for refund of duties and taxes to exporters will continue till the end of this year (Photo: Ramesh Pathania/Mint)

Modi govt seeks to lift housing market, exports to arrest economic downturn

  • Sitharaman announced a host of steps to support housing and export sectors in a bid to create more jobs and to reverse an economic downturn
  • The measures announced, include easing of foreign borrowing norms to facilitate low cost funds for affordable housing, overhaul of tax refund schemes for exporters, priority sector tag for export credit

Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia on Saturday. (Photo: Reuters)
Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia on Saturday. (Photo: Reuters)

Attacks on Saudi facilities threaten spare oil capacity, price hikes

  • The Iranian-backed Houthis group in Yemen claimed responsibility for attacks that shut two plants at the Abqaiq facility
  • Crude prices could spike by several dollars per barrel when markets open Sunday night

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In 2017, as many as 36 firms mopped-up a record amount of over  ₹68,000 crore through initial share-sales. (Photo: iStock)
In 2017, as many as 36 firms mopped-up a record amount of over 68,000 crore through initial share-sales. (Photo: iStock)

IPO market sees a dry spell this year, only 11 companies hit bourses

  • In 2018, 24 companies made a debut in the bourses raising 30,959 crore
  • A total of 23 companies have approached Sebi for raising funds through IPOs in this year so far

While affordable housing has been defined as under  ₹45 lakh homes, the government is yet to clarify mid-income housing price range. (Photo: Hindustan Times)
While affordable housing has been defined as under 45 lakh homes, the government is yet to clarify mid-income housing price range. (Photo: Hindustan Times)

What the government’s funding boost means for the housing sector

  • In choosing the 3 parameters for projects eligible to avail 20,000 cr special funding, the govt has cherry-picked the safest options among stressed projects, said experts
  • Several delayed, stalled projects in NCR, the worst impacted property market, are under NCLT and NPA and will not get the benefit of this stressed fund, said NAREDCO president

Facilities at Abqaiq and the nearby Khurais oil field were attacked at 4 am local time (Photo: Reuters)
Facilities at Abqaiq and the nearby Khurais oil field were attacked at 4 am local time (Photo: Reuters)

Saudi oil output cut in half after drones strike Aramco site

  • Saudi Aramco had to cut production by as much as 5 million barrels a day as a precautionary measure after the attack on the Abqaiq plant
  • Iran-backed Houthi rebels in Yemen, who have launched several drone attacks on Saudi targets, claimed responsibility

Sops for Housing, Export Sectors
A file photo of Hamza bin Laden (Photo: AP)

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The window will provide the much needed last mile funding for housing projects which are non-NPA and non-NCLT projects (Photo: Mint)
The window will provide the much needed last mile funding for housing projects which are non-NPA and non-NCLT projects (Photo: Mint)

Rs20000 cr last mile affordable housing package to benefit 3.5 lakh house owners

  • FM Sitharaman announced a last mile 20,000 cr affordable housing package to benefit around 3.5 lakh home owners
  • The govt will contribute around 10,000 cr to this fund on the lines of NIIF, while investors like LIC, private capital, sovereign funds, DFI will contribute the remaining 10,000 cr

FM Sitharaman said she will be meeting heads of public sector banks on 19 September (Photo: Ramesh Pathania/Mint)
FM Sitharaman said she will be meeting heads of public sector banks on 19 September (Photo: Ramesh Pathania/Mint)

Inflation under control, clear signs of revival in factory output: FM Sitharaman

  • Finance Minister Nirmala Sitharaman said inflation is under control and there is a clear sign of revival of industrial production
  • Sitharaman said the steps announced to increase credit flow to NBFCs, including the partial credit guarantee scheme, has started showing results

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InSeason Fish’s fish calendar for September

Monsoon catch

1 min read . 11:30 AM IST
Artist Pallavi Paul at her residence in Delhi (Photo: Ramesh Pathania/Mint)

Mrs Gandhi’s double and other stories

3 min read . 08:00 AM IST
Finance Minister Nirmala Sitharaman  (ANI)
CBI crime manual, which is currently being updated, will now factor in important changes (Mint)
CBI crime manual, which is currently being updated, will now factor in important changes (Mint)

This is what the CBI’s crime manual entails

  • CBI’s crime manual dictates the working of the investigative agency and lays down procedures
  • The current crime manual of the CBI was updated in 2005, prior to which it was updated in 1991

The shopfront of the Sienna store and café.  (Photo: Ankit Datta/Mint)
The shopfront of the Sienna store and café. (Photo: Ankit Datta/Mint)

How to make a boutique ‘paara’

  • Hindustan Park in Kolkata has transitioned from a middle class neighborhood to a buzzy area full of hipster cafes and boutiques
  • The transformation, though similar to that of Hauz Khas Village in Delhi, has its own charm and peculiarities

The aim is to reduce the resale of lost/stolen phones by blocking the IMEI number
Meeting of the Advisory council of 15th Finance Commission, including chairman N.K. Singh, having an informal chat in New Delhi (Photo: Ramesh Pathania/Mint)
Meeting of the Advisory council of 15th Finance Commission, including chairman N.K. Singh, having an informal chat in New Delhi (Photo: Ramesh Pathania/Mint)

Fund crunch likely for states as growth slows

  • Low growth assumption by 15th Finance Commission may lead to smaller share of tax revenues
  • India’s nominal Q1 GDP growth stood at a meagre 8% while the budget assumes nominal GDP growth at 11.5%

The six days The Big Billion Days sale of Flipkart starts from 29 September
The six days The Big Billion Days sale of Flipkart starts from 29 September

Ban Amazon and Flipkart's festival sales, traders body urges govt

  • Traders body CAIT has written to the govt seeking a 'blanket ban' on festive season sales conducted by e-commerce giant Flipkart, its rival Amazon and others
  • CAIT said the practice of deep discounts offered by various e-commerce platforms during the festive season goes against the FDI rules

The department is also mapping the entire flood plains of the river Ganga, up to 25 km on each side (Mint file)
The department is also mapping the entire flood plains of the river Ganga, up to 25 km on each side (Mint file)

Government set to digitally map India

  • The project is being undertaken by the Survey of India, with support from Department of Science and Technology for a period of 2 years
  • The work has already begun in three states — Maharashtra, Karnataka and Haryana

Most companies aim to reduce prices of movie tickets for small towns (Photo: HT)
Most companies aim to reduce prices of movie tickets for small towns (Photo: HT)

Small towns to star in multiplex growth story

  • India’s screen count is far lower than nations such as US and China, giving operators room to make deep inroads
  • India has around 3,000 multiplex screens; operators now plan to add 7,000 more over the next 10 years, mostly in small towns

Union Finance Minister Nirmala Sitharaman announced slew of measures to boost export (PTI)
The real estate sector, generator of millions of jobs, has been under major stress over the past five years
The real estate sector, generator of millions of jobs, has been under major stress over the past five years

FM Nirmala Sitharama announces 20,000 crore fund for stuck realty projects

  • Sitharaman said external commercial borrowing (ECB) guidelines will be relaxed for builders under Prime Minister’s affordable housing scheme
  • In major boost to stuck housing projects, the finance ministry announced a 10,000 crore special package to provide last-mile funding to such projects

Contributions towards NPS or Atal Pension Yojana (APY) only qualify for income tax benefits under Section 80CCD (1B)
Contributions towards NPS or Atal Pension Yojana (APY) only qualify for income tax benefits under Section 80CCD (1B)

How to use NPS to reduce your income tax this year

  • The government has increased the income tax exemption limit on withdrawal from NPS
  • An employee can deposit contribute towards NPS directly or route contribution through the employer

The government today announced a slew of measure on housing sector
There was no immediate impact on global oil prices as markets were closed for the weekend across the world. Photo: Reuters
There was no immediate impact on global oil prices as markets were closed for the weekend across the world. Photo: Reuters

Saudi Aramco fire: Drones attack world's largest oil processing factory in Saudi

  • Saudi Aramco describes its Abqaiq oil processing facility there as 'the largest crude oil stabilization plant in the world'
  • The Dubai-based satellite channel Al-Arabiya first acknowledged the blaze, citing its own correspondent in the area

The amalgamation process will take some time and the new entity will start functioning from April 1, 2020, MD and CEO of UBI, Ashok Kumar Pradhan, said
The amalgamation process will take some time and the new entity will start functioning from April 1, 2020, MD and CEO of UBI, Ashok Kumar Pradhan, said

Merged entity of UBI, PNB, OBC to become operational from 1 April next year

  • The lenders said that there will no retrenchment of staff in the merged entity, and also ruled out the possibility of bringing in VRS
  • The merged unit, likely to have a new name, will be the second largest bank in the country after SBI with a total business volume of 18 trillion

A file photo of Hyderabad traffic police
A file photo of Hyderabad traffic police

Hyderabad cops helping to get documents, helmets instead of challans

  • Instead of imposing fines, the traffic cops are facilitating the violators to buy the helmet or obtain necessary documents so that they don't repeat the next time
  • Those who were not having documents like pollution, insurance were assisted to get the same from authorities concerned on the spot

Gold and silver prices: On MCX, gold prices ended at  ₹37,503 per 10 gram while silver at  ₹45,830 a kg
(Photo: Bloomberg)
A photograph of Hamza bin Laden circulated by the US State Department’s Twitter account (Photo: AP)
A photograph of Hamza bin Laden circulated by the US State Department’s Twitter account (Photo: AP)

Osama bin Laden's son Hamza killed in US operation: Donald Trump

  • Donald Trump confirmed that Hamza bin Laden was killed in a counter-terrorism operation along the Afghanistan-Pakistan border
  • The 15th of Osama bin Laden's 20 children and a son of his 3rd wife, Hamza, thought to be about 30 years old, was 'emerging as a leader in the Al-Qaeda,' said the US

The announcements came as the Indian economy is grappling with a sharp slowdown
The announcements came as the Indian economy is grappling with a sharp slowdown

Inflation under control, clear sign of revival of industrial production: FM

  • Finance Minister Nirmala Sitharaman announced a slew of steps to boost housing and export sector. The announcements came as the Indian economy is grappling with a sharp slowdown. In the most recent quarter, GDP growth slowed to a six-year low of 5%. Many sectors like auto & real estate are grappling with a sharp slowdown in demand

As per the convention, standing committee of finance is normally headed by a senior leader of the opposition party but this time the post has been given to former union minister Jayant Sinha (Photo: Pradeep Gaur/Mint)
As per the convention, standing committee of finance is normally headed by a senior leader of the opposition party but this time the post has been given to former union minister Jayant Sinha (Photo: Pradeep Gaur/Mint)

BJP to head 14 of 24 Parliament standing committees, Jayant Sinha gets finance

  • The biggest setback has come for Congress which has lost the prestigious committees like finance and external affairs to BJP
  • The only ally of the BJP to have got chairmanship of a parliamentary committee is the Shiv Sena

If one language can unite the country today, it is the widely-spoken Hindi language, Amit Shah tweeted today (Photo: PTI)
If one language can unite the country today, it is the widely-spoken Hindi language, Amit Shah tweeted today (Photo: PTI)

One Nation, One Language: Protests seen across non-Hindi speaking states

  • Non-Hindi speaking states saw several leaders lead protests against the Amit Shah’s proposal made on the occasion of the ‘Hindi Diwas’, observed by the centre on Saturday
  • Union home minister Amit Shah had proposed to promote Hindi as the country’s common language

Rapid Metro was constructed by IL&FS Infrastructure in two phases
Rapid Metro was constructed by IL&FS Infrastructure in two phases

Gurugram Rapid Metro is in trouble, here's why nobody wants to run it

  • Rapid Metro Rail Gurgaon Ltd (RMGL) has already expressed its inability to run Gurugram Rapid Metro any further
  • HUDA will have to study the modalities of reviving the ridership, which is in disrepair, and extending the line to areas which actually require such a Rapid Metro

Hiring is currently in progress and the centre will move to its permanent location in the ASU Novus Innovation Corridor by 2020, Infosys said (Photo: Mint)
Hiring is currently in progress and the centre will move to its permanent location in the ASU Novus Innovation Corridor by 2020, Infosys said (Photo: Mint)

Infosys plans to hire 1,000 locals for its Arizona Technology Innovation Center

  • Infosys' Arizona center has a special focus on autonomous technologies, Internet of Things, full-stack engineering, data science, cybersecurity
  • Infosys says it has surpassed its Spring 2017 commitment to hire 10,000 American workers as part of its ongoing efforts to accelerate the pace of innovation for US enterprises

Nirmala Sitharaman said the government has been pressing banks to link borrowing rates to an external benchmark to speed up the transmission of rate cuts (Photo: Mint)
Nirmala Sitharaman said the government has been pressing banks to link borrowing rates to an external benchmark to speed up the transmission of rate cuts (Photo: Mint)

Clear signs of revival in industrial production, fixed investment: FM Sitharaman

  • FM Nirmala Sitharaman said there are clear signs of revival of industrial production, fixed investment after economic growth plunged to a 6-year low
  • Sitharaman announce the 3rd part of the stimulus package for the economy, she said measures are being taken to improve credit outflow from banks

(Photo: Mint)
A file photo of Satish Punia
Promoters shall hold a minimum of 40% of the paid-up voting equity capital of the bank for five years (Photo: Hemant Mishra/Mint)
The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong (Photo: Reuters) (REUTERS)
The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong (Photo: Reuters) (REUTERS)

Hong Kong exchange vows to press on with $39-bn LSE bid after rebuff

  • The Hong Kong exchange said it would now hold more talks with LSE investors as it considers its next step
  • LSE said earlier on Friday, as it rebuffed the Hong Kong approach, that it was sticking with its $27-bn acquisition of data and analytics company Refinitiv

Delhi-Lucknow Tejas Express trains will have advance reservation period of 60 days (HT)
As on March 31, 2019, the company had a loan portfolio of Rs.6,906 crore.
Finance Minister Nirmala Sitharaman (MINT_PRINT)
Picture for representation. The construction work on the Mumbai-Ahmedabad bullet train line will likely to begin by March 2020
Picture for representation. The construction work on the Mumbai-Ahmedabad bullet train line will likely to begin by March 2020

Mumbai-Ahmedabad bullet train to have 12 stations: Details here

  • The bullet train will run at a speed of 320 kmph and cover the Mumbai-Ahmedabad distance in an expected three hours
  • Upon completion, the Mumbai-Ahmedabad bullet train will make 70 trips, 35 on each side between 6 am till 12 am

The finance minister said that the Export Credit Guarantee Corp will expand scope of ECIS and offer higher insurance cover to banks lending working capital for exports.
The finance minister said that the Export Credit Guarantee Corp will expand scope of ECIS and offer higher insurance cover to banks lending working capital for exports.

Sitharaman announces expansion of ECIS to offer higher insurance cover to banks

Union Finance Minister Nirmala Sitharaman on Saturday announced a series of steps to boost export and revive growth. Sitharaman had announced the first set last month and promised to be back with another round of initiatives to address sector-specific solutions and targets. The finance minister said that the Export Credit Guarantee Corp will expand scope of ECIS and offer higher insurance cover to banks lending working capital for exports. The move will cost 1700 crore per annum to the government, Sitharaman added.

A Kashmiri family in Srinagar talks to relatives on a landline phone on 17 August.
A Kashmiri family in Srinagar talks to relatives on a landline phone on 17 August.

When Kashmir speaks: The other side of a lockdown

Amidst conflicting reports and a breakdown in communication, Kashmiris outside the valley are raising their voices on social media, helping each other and letting the world know what it is being unable to access—their own truth

. On an annual basis, the education inflation is about 10-12% (Photo: iStock)