Indian airlines will now not be allowed to operate any flights to Saudi Arabia
Photo: Mint
Photo: Mint

The missing middle aggravates India’s jobs conundrum

Any country sees genuine progress when it creates jobs. This happens as small and mid-sized firms grow, and create jobs alongside. India, over the years, has faced the problem of the missing middle. There aren’t enough mid-sized firms operating in the country. Mint explores.

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The new Urban Cruiser is a cross badged version of Vitara Brezza
'Karmo Bhumi' is an initiative of the West Bengal government to collaborate between job seekers and employers.  (PTI)
'Karmo Bhumi' is an initiative of the West Bengal government to collaborate between job seekers and employers. (PTI)

3,000 IT professionals who returned home get jobs under special scheme in Bengal

  • West Bengal government launched 'Karmo Bhumi' initiative as a skill registration platform for those who have returned to West Bengal from other states amid COVID-19
  • Over 37,000 people have registered in the job portal since its launch on June 8

The steps in the works include: transaction cost for investors who redeem their investments from schemes which have become illiquid, a so-called backstop facility to buy the illiquid paper and mandating a minimum amount of investment in highly liquid assets such as g-secs and t-bills
The steps in the works include: transaction cost for investors who redeem their investments from schemes which have become illiquid, a so-called backstop facility to buy the illiquid paper and mandating a minimum amount of investment in highly liquid assets such as g-secs and t-bills

Sebi's reform list to de-stress debt MFs welcome, but raises doubt

  • Sebi's proposed initiatives, especially the setting up of a special purpose clearing corporation for repo in corporate bonds and the setting up of a backstop facility will boost liquidity and deepen corporate bond markets in India, said G Pradeepkumar, CEO, Union AMC

Emergency certificate is a one-way travel document issued to Indians without a valid passport, to facilitate their return home (Photo: AP)
Emergency certificate is a one-way travel document issued to Indians without a valid passport, to facilitate their return home (Photo: AP)

Indian expat to travel home after 20 yrs, gets $204,195 waiver in overstay fines

Mathiazhaagan, who hails from Tamil Nadu, sought help from two social workers in the UAE to return home during the COVID-19 pandemic. The only documents he possessed was his employment visa entry permit and a copy of the last page of his passport

The TCS will be reflected as tax credit in your Form 26AS. So, the amount of TCS can be claimed as credit against tax payable while filing income tax returns. (AP)

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FILE PHOTO: A bird flies past a Reliance Industries sign in Ahmedabad, India, (REUTERS)
A file photo of Ex Bihar DGP Gupteshwar Pandey. (ANI)
Shares of Hexaware Technologies rose 2% to hit a record high of  ₹468.95 on Wednesday. Photo: Hemant Mishra/Mint (Hemant Mishra/Mint)
Jio’s new  ₹399 base plan is priced similar to Vodafone Idea and is 20% cheaper than Airtel’s existing entry level postpaid plan. (Mint)
Jio’s new 399 base plan is priced similar to Vodafone Idea and is 20% cheaper than Airtel’s existing entry level postpaid plan. (Mint)

Airtel, Vodafone Idea feel the heat of Jio’s new postpaid plans

  • Bharti Airtel Ltd and Vodafone Idea Ltd lost 5-6% in Wednesday trade after Reliance Jio Infocomm Ltd announced new tariff plans for postpaid customers
  • Vodafone Idea and Airtel together have a lion's share of postpaid subscribers in India-71% in FY20 data compiled by Jefferies India Pvt. Ltd show

People push a bus through a waterlogged road after heavy rainfall in Mumbai. (REUTERS)
Bollywood actress Rhea Chakraborty. (AFP)
Liquid funds on an average have delivered around 5% in the last one year. Savings bank fixed deposits have also come down steeply to around 5%.
You can set off your short term capital gains (STCG) and long term capital gains (LTCG) on equity investments; and LTCG on investments other than the equity investments, against the short fall in your basic exemption to reduce your income tax outgo.
You can set off your short term capital gains (STCG) and long term capital gains (LTCG) on equity investments; and LTCG on investments other than the equity investments, against the short fall in your basic exemption to reduce your income tax outgo.

Adjust capital gains against basic exemption limit to reduce income tax

If a tax payer has made both short term and long term gains during a financial year, she can utilise these gains in any order to be set off against shortfall in basic exemption.

Shot of a figurine bull and chess pieces (Photo: istock)
iPhones are displayed at the upcoming Apple Marina Bay Sands store in Singapore, September 8, 2020. REUTERS/Edgar Su/Files (REUTERS)
The Shapoorji Pallonji group’s decision came soon after the Tata group told the Supreme Court that it was ready to buy the Mistry family’s stake in Tata Sons at current market value. (Reuters)
The Shapoorji Pallonji group’s decision came soon after the Tata group told the Supreme Court that it was ready to buy the Mistry family’s stake in Tata Sons at current market value. (Reuters)

SP group cos surge after it announces separation from Tata group

  • Shares of Sterling & Wilson Solar hit 20% upper circuit, while Forbes & Co Ltd hit 5% upper circuit
  • Shapoorji Pallonji group owns 50.6% stake in Sterling & Wilson and 72.6% in Forbes

CAMS IPO closes today
Chemcon Speciality Chemicals IPO closes today
All vehicles registered after 1 April 2019, come equipped with colour-coded fuel stickers and HSRP. (PTI)
The Morgan Stanley fund fund is betting on HDFC Bank, ICICI Bank, and Kotak Mahindra Bank
FILE PHOTO: A smartphone displays a Klarna logo in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (REUTERS)
FILE PHOTO: A smartphone displays a Klarna logo in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (REUTERS)

Europe’s tech firms are hiring fewer US-based IT professionals

Just 33% of European tech firms surveyed started US operations before early, ‘series A’ fundraising rounds from 2015 to 2019 compared to about 59% that added offices there or relocated entirely between 2008 and 2014, according to a survey

Pune-based SII has partnered with British-Swedish pharma company AstraZeneca for manufacturing the COVID-19 vaccine candidate. (AP)
Bharat Biotech inks pact with WU's School of Medicine for COVID-19 intranasal vaccine (REUTERS)
Angel Broking IPO will close on September 24
All instruction at Harvard College is remote for the 2020-2021 academic year. (AP)
Maharashtra topped the list of credit/debit card and internet banking-related frauds in the fiscal 2016-17 with 380 cases involving Rs12.10 crore. Photo: iStockphoto
Maharashtra topped the list of credit/debit card and internet banking-related frauds in the fiscal 2016-17 with 380 cases involving Rs12.10 crore. Photo: iStockphoto

Billionaire Pallonji Shapoorji Mistry's daughter loses money in bank fraud

  • The bank account belongs to Laila Rustom Jehangir, one of the two daughters of businessman Pallonji Shapoorji Mistry
  • An offence has been registered in connection with the cyber fraud at the Colaba Police Station in South Mumbai, a police official said

Bharat Biotech inks pact with WU's School of Medicine for COVID-19 intranasal vaccine (REUTERS)
Dhotre said 38.16 lakh Aadhaar numbers stand deactivated as on August 31. Photo: Mint
The human trials of Covaxin has begun at the All India Institute of Medical Sciences, Patna
The human trials of Covaxin has begun at the All India Institute of Medical Sciences, Patna

Covaxin: Behind the scenes of the Covid-19 vaccine trials

  • A desire to help, nationalism and a sense of wanting to be part of history are among the reasons driving volunteers to participate in vaccine trials
  • About 80% of volunteers in the Phase I and II trials are men, says Dr. J.S. Kumar, professor of general medicine at SRM Institute, who’s part of the 15-doctor team for covaxin trials

Sebi chairman Ajay Tyagi; data from Value Research shows that three-fourths of multi-cap funds already have a higher allocation to mid- and small-cap stocks than the 23% weight they have in the top 500 stocks in the market.  (Photo: Mint)
Sebi chairman Ajay Tyagi; data from Value Research shows that three-fourths of multi-cap funds already have a higher allocation to mid- and small-cap stocks than the 23% weight they have in the top 500 stocks in the market. (Photo: Mint)

Why Sebi’s 9/11 strike on mutual funds has misfired

  • The regulator’s circular on multi-cap mutual funds hasn’t been well thought out. It needs to be quickly withdrawn
  • From Sebi’s perspective, better disclosures and investor education are areas it should focus on, rather than take upon itself the matter of asset allocation of a multi-cap fund

Photo: ANI
Photo: ANI
LIVE UPDATES

Market LIVE: Sensex, Nifty off day's low; Bharti Airtel, TCS top drags

  • After a firm opening, Indian benchmark share indices slipped into the red in the afternoon trade, dragged by losses in index heavyweights TCS, Bharti Airtel and ICICI Bank

FILE PHOTO: A bird flies past a Reliance Industries sign  (REUTERS)
Patients may harbor potentially infectious SARS-CoV-2 virus in their saliva (AP)
Patients may harbor potentially infectious SARS-CoV-2 virus in their saliva (AP)

How do people get infected by coronavirus? Here’s what experts say

  • Spending at least 15 minutes in close contact (less than 2 meters) with an infected person, or even briefer periods with someone who is coughing or sneezing, is associated with higher risk for covid transmission

Photo: Bloomberg
Photo: Bloomberg

Tatas may rope in a third party

  • Tata Sons has the first right of refusal for the 18.4% stake owned by two SP group investment companies
  • A recent bid by the debt-laden SP group to pledge its Tata Sons shares to raise money prompted the Tatas to move the Supreme Court

Picture for representation. (REUTERS)
Saroj with her mother (Hindustan)
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