Mindtree promoters do not want to relinquish control. The firm's board will meet on 20 March to consider a buyback of all equity shares to fend off a hostile takeover by L&T. (Sarvesh Kumar Sharma/Mint)
Mindtree promoters do not want to relinquish control. The firm's board will meet on 20 March to consider a buyback of all equity shares to fend off a hostile takeover by L&T. (Sarvesh Kumar Sharma/Mint)

Stage set for showdown in L&T-Mindtree takeover battle

  • Larsen and Toubro agrees to buy Cafe Coffee Day founder V.G. Siddhartha's 20.32% stake in Mindtree for 3,269 crore
  • L&T says will buy an additional 15% in Mindtree from open market and launch an open offer for 31% more, both at 980/share

Nirav Modi, who is said to be in London and started a new diamond business, is the prime accused in the $2 billion PNB fraud case. (Mint)
Nirav Modi, who is said to be in London and started a new diamond business, is the prime accused in the $2 billion PNB fraud case. (Mint)

Extradition warrant issued against Nirav Modi, arrest imminent

  • An arrest warrant against PNB fraud accused Nirav Modi has been issued on the basis of ED's extradition request
  • On 9 March, ED said the UK home secretary has referred India's request for Nirav Modi's extradition to a London court

Mukesh Ambani (left) and Anil Ambani. (HT)
Mukesh Ambani (left) and Anil Ambani. (HT)

RCom scraps telecom asset sale to Reliance Jio

  • RCom, Reliance Jio end deal for want of required regulatory approvals, RCom says
  • RCom had announced the telecom asset sale to Reliance Jio in December 2017

BJP MLA Pramod Sawant (right) has been a close confidant of former Goa chief minister Manohar Parrikar.  (Twitter)
BJP MLA Pramod Sawant (right) has been a close confidant of former Goa chief minister Manohar Parrikar. (Twitter)

Pramod Sawant to be new Goa Chief Minister

  • Pramod Sawant may have to work with two deputy CMs from allied parties supporting the BJP-led minority govt
  • Sawant, 44, is an Ayurvedic doctor and has been a close confidant of Parrikar

Reliance Communications (RCom) is part of Anil-Ambani-led Reliance Group. (Mint)
Reliance Communications (RCom) is part of Anil-Ambani-led Reliance Group. (Mint)

RCom pays 460 crore to settle Ericsson dues

  • RCom's payout to Ericsson potentially saves billionaire Anil Ambani and two RCom directors from a jail term
  • RCom owes a total 571 crore billion rupees to Ericsson, including a one-time settlement of 550 crore

ArcelorMittal’s resolution proposal provides financial creditors of Essar Steel  ₹41,987 crore out of their total dues of  ₹49,395 crore (Reuters)
ArcelorMittal’s resolution proposal provides financial creditors of Essar Steel 41,987 crore out of their total dues of 49,395 crore (Reuters)

NCLAT gives conditional nod to ArcelorMittal's 42000 cr plan for Essar Steel

  • The appellate tribunal will look into the issue of discriminatory distribution of funds between financial and operational creditors
  • NCLAT asked the Insolvency & Bankruptcy Board of India to submit a ratio of the distribution of funds

Emergency services attend the scene of a shooting in Utrecht, Netherlands, on Monday. (AP)
Emergency services attend the scene of a shooting in Utrecht, Netherlands, on Monday. (AP)

Gunman kills 3 on Dutch tram, mayor says terror likely

  • The suspected gunman is at large, authorities raise terrorism threat to its highest level in Utrecht province
  • Dutch radio says security has been increased at the seat of the government in The Hague following reports of the shooting

 (HT)
(HT)

DGCA calls meeting with airlines on Tuesday to discuss rising air fares

  • A significant number of cancellations by Jet Airways and SpiceJet in the last few weeks has led to an increase in air fares
  • Naresh Goyal-led Jet Airways on Monday said it has grounded four more planes and would delay paying interest on maturing debt 

Congress general secretary Priyanka Gandhi Vadra takes a boat ride to the Sangam in Prayagraj on Monday. (AP )
Congress general secretary Priyanka Gandhi Vadra takes a boat ride to the Sangam in Prayagraj on Monday. (AP )

Priyanka reaches out to voters in UP with three-day Ganga yatra

Pakistan Civil Aviation Authority on Monday extended its restriction on airspace for all overflying flights till Tuesday. (Reuters)
Pakistan Civil Aviation Authority on Monday extended its restriction on airspace for all overflying flights till Tuesday. (Reuters)

Pakistan’s airspace curbs keep Indian Forces on alert, push up airfares

  • Curbs have led airlines to cancel several flights and take longer routes, adding to their operating expenses
  • Budget airline SpiceJet Ltd has suspended its daily flight to Kabul due to the restrictions over Pakistan airspace

The government claims that in the nine months of FY19, peak demand grew at 7.9% as compared to 2.8% in the corresponding period in FY18
The government claims that in the nine months of FY19, peak demand grew at 7.9% as compared to 2.8% in the corresponding period in FY18

India may see demand for power, auto fuel surge this election season

  • Requisitioning of additional power by distribution companies has also led to a short-term hike in electricity price
  • The all-time high for electricity in the spot market was 18.2 per unit for 4 October delivery last year

Vinushitha B. works as a design contractor for Srikanth Iyer of HomeLane.
Vinushitha B. works as a design contractor for Srikanth Iyer of HomeLane.

To be a gig worker, you need to plan ahead

  • Following your passion takes commitment, patience and constant upskilling. The rewards, if you make it, are much higher
  • Breaks or downtime when you have no work and no income is a big challenge of working on your own

With cuts in its repo rate proving to be a blunt tool, RBI may now need to intervene through some infrequently used policy options. (Mint)
With cuts in its repo rate proving to be a blunt tool, RBI may now need to intervene through some infrequently used policy options. (Mint)

Opinion | Time to ease credit flows in effective ways

RBI may soon cut its key policy rate even as a foreign exchange swap scheme pumps more money into the Indian economy. But other tools need to play a role as well 

OPEC and its allies agreed in December to cut output by 1.2 million barrels per day (AP)
OPEC and its allies agreed in December to cut output by 1.2 million barrels per day (AP)

OPEC to scrap April meeting but keep oil cuts in place

  • The next regular talks set to be held on June 25-26
  • US sanctions on Iran and Venezuela key factors; US raises own oil exports while pressing sanctions  

Mario Draghi, the president of the European Central Bank (ECB) is due to retire by November 2019. (AFP)
Mario Draghi, the president of the European Central Bank (ECB) is due to retire by November 2019. (AFP)

Opinion | Hold those hagiographies of Mario Draghi as ECB chief

Journalists are in a hurry to bestow greatness on a central banker with a flawed monetary policy

Speaker of the House of Commons John Bercow.  (AFP )
Speaker of the House of Commons John Bercow. (AFP )

Brexit setback for May: Speaker rules she must change her plan

  • Bercow said his ruling should not be considered the last word on the matter and the government could bring forward a new proposition
  • May had earlier warned lawmakers that unless they approve her Brexit divorce pact, Britain's exit from the EU could face a long delay

 (iStock)
(iStock)

Opinion | When horror goes live on the web and fools fail the world

There exist AI tools to scan objectionable content but human decisions on intervention result in little or no action taken

Prime Minister Narendra Modi launched the 'Kisan Samman Nidhi Yojna' in Gorakhpur, Uttar Pradesh, on 24 February. (PTI)
Prime Minister Narendra Modi launched the 'Kisan Samman Nidhi Yojna' in Gorakhpur, Uttar Pradesh, on 24 February. (PTI)

Opinion | Look beyond unconditional transfers for social security

A binding national minimum wage is the first step in addressing hopes and aspirations

iStockphoto
iStockphoto

Sugary drinks may increase risk of death by heart disease: study

  • The risk of early death linked with drinking sugar-sweetened beverages was more pronounced among women, says the study
  • The study also finds that drinking one artificially sweetened beverage per day instead of a sugary one lowered the risk of premature death

Men unload a case containing the black boxes from the crashed Ethiopian Airlines Boeing 737 MAX 8 outside the headquarters of France's BEA air accident investigation agency in Le Bourget. (Reuters)
Men unload a case containing the black boxes from the crashed Ethiopian Airlines Boeing 737 MAX 8 outside the headquarters of France's BEA air accident investigation agency in Le Bourget. (Reuters)

BEA says data shows "clear similarities" between Boeing crashes

  • The data extraction was verified by the Ethiopian Accident Investigation Bureau, the BEA and the US National Transportation Safety Board
  • A computer's response to an apparently faulty angle of attack reading is at the centre of an ongoing probe into the Lion Air disaster

The government has been putting on a brave face on meeting the direct tax collection target (iStock)
The government has been putting on a brave face on meeting the direct tax collection target (iStock)

Net direct tax collection crosses 10 lakh crore mark

  • The entire advance tax data from across the country has not come yet
  • The net direct tax collection during April-January of this fiscal stood at 7.89 lakh crore

The appeal by the economists comes against the backdrop of controversy over revision of GDP data and withholding of employment data by NSSO.
The appeal by the economists comes against the backdrop of controversy over revision of GDP data and withholding of employment data by NSSO.

Data Debate: 131 CAs counter 108 economists on statistics concerns

  • India is poised to move on a higher growth trajectory, say 131 CAs, counteriing concerns expressed by 108 economists that India's statistical data is in shambles
  • The 131 CAs termed the concerns raised by the 108 economists as 'baseless allegations with political motivations'

Photo: Mint
Photo: Mint

Telangana govt, Ola sign MoU to strengthen Hyderabad’s traffic infrastructure

  • Under the MoU major roads in Hyderabad will be mapped
  • This data will be provided to respective departments of Telangana govt, which monitor road conditions and maintain their overall quality in Hyderabad

Manohar Parrikar(1955-2019)
Returns on REITs accrue from yield as well as appreciation in the unit price
Returns on REITs accrue from yield as well as appreciation in the unit price

Why Embassy Office Parks’ REIT offering is expected to get lapped up

  • The pertinent question for an investor is: will the good times in this segment continue and will investors get a steady return on investment
  • The REIT offering is a joint venture of two well-known companies, realty developer Embassy Group and US-based private equity firm Blackstone Group

Azim Premji is the first Indian to sign the Giving Pledge, which gets the wealthy to give back most of their fortune to charity. (Bloomberg)
Azim Premji is the first Indian to sign the Giving Pledge, which gets the wealthy to give back most of their fortune to charity. (Bloomberg)

Azim Premji’s charitable trusts grow richer on dividends, share sales

  • The two trusts earned 11,357 cr by way of dividends, share sales and buybacks in the last nine years
  • Azim Premji’s trusts received bonus shares issued by Wipro in June 2010, June 2017 and March 2019

Prime Minister Narendra Modi pays homage to Goa chief minister Manohar Parrikar in Panaji on Monday (PTI)
Prime Minister Narendra Modi pays homage to Goa chief minister Manohar Parrikar in Panaji on Monday (PTI)

PM Modi leads nation in paying last respects to Manohar Parrikar

  • Parrikar, a former defence minister, given a state funeral
  • It was attended by Modi, Amit Shah, Devendra Fadnavis, a host of senior BJP leaders and representatives from political parties

A Reserve Bank of India (RBI) logo. (Reuters)
A Reserve Bank of India (RBI) logo. (Reuters)

RBI officials meet bankers, seek feedback on new liquidity tool: Sources

  • There were some speculations that the RBI had timed the move to also absorb potential bunched-up forex inflows at March-end
  • The RBI will conduct a forward dollar/rupee buy-sell swap auction worth $5 billion on 26 March

The game industry’s current juggernauts are looking to fortify their positions from a possible shift to streaming (Reuters)
The game industry’s current juggernauts are looking to fortify their positions from a possible shift to streaming (Reuters)

Can Google Create the Netflix of Gaming?

  • More than 25,000 members of the video game industry are scheduled to descend on San Francisco for the geeky, and often sleepy, annual gathering known as the Game Developers Conference
  • Google has been privately testing Project Stream

An Apple logo. (Reuters)
An Apple logo. (Reuters)

Apple launches 10.5-inch iPad, updates Mini ahead of 25 March event

  • With the new launch, the iPad will come in four different screen sizes, ranging from 7.9 inch to 12.9 inch
  • The new iPad mini starts at $399 for the WiFi model and $529 for the WiFi plus cellular model

Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

Central Bank to raise up to 270 crore by issuing shares to employees

  • The bank's board on Monday approved a proposal to raise equity capital by issuance and allotment of up to 10 crore shares
  • The shares under the scheme will be allotted to eligible employees

 (HT)
(HT)

Hotel Leela Venture to sell hotels, property to Brookfield for $576 million

  • The company will sell four Leela hotels at Bengaluru, Chennai, Delhi and Udaipur and its property in Agra to Brookfield
  • Hotel Leela Venture sell four of its hotels and a property to a fund sponsored by Brookfield Asset Management for 39.50 billion

Jet Airways is one of the better paymasters in the industry. However, the recent salary delays have forced many pilots to explore job opportunities with other airlines. (Photo: Reuters)
Jet Airways is one of the better paymasters in the industry. However, the recent salary delays have forced many pilots to explore job opportunities with other airlines. (Photo: Reuters)

IndiGo lures Jet Airways’ pilots with better compensation

  • IndiGo is offering compensation for overdue salaries, on-the-spot job offers to senior Jet Airways pilots
  • Indigo will hire 120 expatriate pilots by June 2019, taking their total number to 160 

The solar engineering business could be an attractive prospect for investors given its global presence. (AFP)
The solar engineering business could be an attractive prospect for investors given its global presence. (AFP)

Shapoorji Pallonji gears up to list solar EPC biz

  • Group plans to raise 4,000 crore through share sale in a bid to reduce debt
  • Sterling and Wilson, which houses the group’s solar EPC business, is likely to file draft documents with Sebi by early April

Another factor driving savings down is an increase in household indebtedness (Mint)
Another factor driving savings down is an increase in household indebtedness (Mint)

How joblessness eats into household savings

  • The dent on India’s savings rate will eventually affect investments into areas the country needs badly
  • Given that consumption rates are estimated to have risen in FY19 to 59.5%, the savings rate may have fallen again this fiscal. 

Both companies have been making losses continuously since 2009-10 and have been declared ‘incipient sick’.mint
Both companies have been making losses continuously since 2009-10 and have been declared ‘incipient sick’.mint

BSNL, MTNL may leverage assets in their turnaround plan

  • The department of telecommunications (DoT) had to give MTNL 171 crore last week to pay salaries
  • Both have been making losses continuously since 2009-10 and have been declared “incipient sick”.

Prime Minister Narendra Modi and BJP Chief Amit Shah. Photo: ANI
Prime Minister Narendra Modi and BJP Chief Amit Shah. Photo: ANI

How Modi outwits Congress with ‘chowkidar’ poll slogans

  • Amit Shah, Piyush Goyal are among senior BJP leaders who added the word chowkidar to their username on Twitter after Modi did it
  • With the use of slogans like Main Bhi Chowkidar and Chowkidar Phir Se, BJP has started an outreach programme on social media to connect to the people on a mass scale

Over 1 billion feature phones to be sold in 3 years

  • In 2019, a little more than 400 million feature phones would be sold globally, according to a market report
  • The growth of feature phones is driven by the revival of the Nokia-branded features phones and the popularity of the Jio Phone

Jet Airways had a gross debt of  ₹8,411 crore as of September-end, including aircraft debt of  ₹1,851 crore. (Reuters)
Jet Airways had a gross debt of 8,411 crore as of September-end, including aircraft debt of 1,851 crore. (Reuters)

Jet Airways cancels flights as four more planes are grounded by lessors

  • About 60 Jet Airways planes—half of its pre-crisis fleet—are now grounded, even as a deadlock between Jet lenders and Etihad over a bailout continues
  • As a result, in yet another default, Jet Airways says it was delaying interest payment due on 19 March to debenture holders

Storing customer data exclusively in India without creating mirror sites overseas is risky. Photo: Bloomberg
Storing customer data exclusively in India without creating mirror sites overseas is risky. Photo: Bloomberg

RBI data localisation rule may compromise fraud detection in India: Mastercard 

  • Last year, RBI asked payment firms to ensure their data are stored exclusively on local servers
  • Mastercard’s Miebach said that Mastercard is still working on how to ensure the Indian data is protected

 (Reuters)
(Reuters)

Rupee strengthens past 69-mark; hits seven month high as trade deficit narrows

  • So far this year, the rupee has gained 1.2%
  • Traders were also cautious before the Federal Reserve’s Wednesday monetary policy decision

 (iStock)
(iStock)

Timeline for issuance of tax return intimation is 12 months

  • The timeline for issuance of intimation is 12 months from the end of the financial year in which the return is filed
  • You can also login to the income tax portal to check the status of the tax return or call the help desk of the CPC

Reserve Bank of India
Reserve Bank of India

Opinion | Reserve Bank of India is full of surprises these days

  • Now RBI is buying dollars to create domestic liquidity, will it continue to snap up as many government bonds?
  • The RBI’s new boss is stuck between a rock and a hard place

 (Reuters)
(Reuters)

Oil slips on economic slowdown, but OPEC-led cuts still support

  • Brent crude oil futures were at $67.03 per barrel, down 13 cents, or 0.2%, from their last close
  • Crude markets remain broadly supported by supply cuts led by producer group OPEC and US sanctions against Iran and Venezuela

 (Reuters)
(Reuters)

Jet Airways delays payment to debenture holder

  • Jet Airways will delay paying interest to its debenture holder, due March 19, owing to financial constraints
  • Jet Airways has been saddled with debt of over $1 billion 

While your son has been declared cancer free, insurers are likely to consider it as a pre-existing disease (iStock)
While your son has been declared cancer free, insurers are likely to consider it as a pre-existing disease (iStock)

Most health insurance plans exclude pre-existing diseases for four years

  • Do make full disclosure about the previous medical treatment to avoid disputes at the time of claim
  • An alternate way to enhance coverage for your son will be through a super top-up health insurance

Embassy REIT, backed by Blackstone Group and Embassy Group, plans to raise  ₹4,750 crore in India’s first REIT listing. (Mint)
Embassy REIT, backed by Blackstone Group and Embassy Group, plans to raise 4,750 crore in India’s first REIT listing. (Mint)

Blackstone-Embassy REIT game changer for India's real estate sector  

  • Embassy Office Parks REIT would be India’s first real estate investment trust
  • It plans to raise 4,750 crore (including the anchor allocation) from its 18-20 March IPO

 (iStock)
(iStock)

It is still too early to invest in ‘smart beta’ ETFs

  • While the ‘new age’ ETFs may provide niche exposure to your portfolio, tread carefully as it comes with the challenge of liquidity and rebalancing
  • Investors should know that liquidity is poor in many ETFs, pushing up the cost of buying and selling

What a personal loan costs you

  • As personal loans come with high interest rates, continuous default will put you on a downward spiral
  • Here are some of the lowest personal loan interest rates offered by various banks

 (iStock)
(iStock)

Term plan premiums: A ready reckoner

  • A look at premium rates for some insurance policies of a sum assured of 1 crore across three age categories for policy terms of 30, 25 and 20 years
  • The claims settlement rate is measured by the value of the policies as a lower settlement rate is indicative of high ticket-size policies being rejected