Drone strikes at world's largest oil processing facility in Saudi, Yemen rebels

The world's largest oil processing facility, located in Saudi Arabia, was attacked on Saturday. Yemen's Houthi rebels claimed responsibility for the attack. Drones were used to strikes the facility, and a major oilfield operated by Saudi Aramco. The attack caused a huge fire. Secretary of State of United States of America, Mike Pompeo, blamed Iran for the attack on the 'world's energy supply'.

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.

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

Sehwag gets candid on his resemblance to Sachin, Kohli vs Smith and Bumrah

Former cricketer Virender Sehwag attended the 2nd HT-MintAsia Leadership Summit in Singapore and discussed his journey from Delhi's Najafgarh to sports superstardom. He revealed how he began by emulating Sachin Tendulkar and then went on to develop his own style. He also reveals who's his favourite between Virat Kohli and Australia's Steve Smith. The formidable opening batsman also drops a few hints on tackling Jasprit Bumrah. Watch the full video for more.

Why Not Mint Money | How to make your passwords stronger?

Resorting to one password for all your apps and websites is not a good idea, especially if it's got to do with your financial transactions. Having simple passwords because you can remember them easily also doesn't work because hackers and hacking software are getting smarter by the day. Here are some tips that could help you build the perfect hack-proof password.

WeWork IPO: 'Greater Fool Theory' in play leaving deep-pocketed VCs stranded

Softbank is urging one of its most valuable portfolio companies, WeWork, to shelve its IPO plans. IPO underwriters of WeWork have slashed the valuation of the company to $15-20 billion, significantly over than the $47 billion valuation it received in January 2019 during the last round of venture funding. The WeWork IPO could have a much wider ramifications for the VC-startup landscape.

Mint Views: Should states hit the brakes on high traffic fines?

Some states have decided not to implement the steep fines prescribed by the Motor Vehicles (Amendment) Act recently approved by Parliament. Under the law, states have the right to formulate their own law given that the subject falls in the Concurrent list of the Constitution. But the broader objective of reducing road fatalities should not be lost sight of. The new rules should be tested for some time to see if they bring greater discipline among road users and lead to lower accidents. Prematurely diluting them would detrimental to the safety concerns of road users.

Explainer: Centre pitches mega clean energy parks by PSUs worth $2 bn each

The Centre wants PSUs to build massive clean energy parks. These parks are estimated to cost around $ 2 billion each. States and operators will be incentivised to ensure success of the projects.

Equity MF inflows up in August: What does it mean for retail investors?

Net inflow into equity mutual fund schemes touched a five-month high in August, showed data issued Monday by the Association of Mutual Funds in India (Amfi). Equity mutual fund schemes saw an inflow of ₹9,214.81 crore during the month, a 13.29% increase from July, and 10.02% more than August 2018. What does it mean for markets? Mahesh Patil, CIO-Equity, Aditya Birla Sun Life AMC speaks to Mint's Nasrin Sultana on the way forward.

Mark to Market | Yes Bank's quest for money

Yes Bank is in talks with a global technology company for stake sale and separately co-founder Rana Kapoor too is in dialogue with digital wallet Paytm's parent One97 Communications to sell his stake. Investors seem to view Kapoor's exit as positive but his deal with Paytm could make Yes Bank's capital raising plan tougher. The biggest hurdle is getting regulatory approval in the case of both the deals. Investors should wait and watch how successful Yes Bank is in raising more capital.

How to steer clear of OTP theft | Why Not Mint Money

From ordering food to booking a movie ticket, we use OTPs for various financial transactions. OTPs are so ubiquitous these days, you may not go more than 24 hours without using one. This frequent use of OTPs, often opens doors for frauds which could result in your bank account getting emptied. Watch to know how you can avoid falling prey to OTP thefts.

Long Story Capsule | Slowdown stories from India’s heartland

A ground report from Vidisha district in Madhya Pradesh, an hour-and-a-half away from Bhopal, shows rural households struggling to stay afloat and curtailing even essential consumption.

Policy 101 | How Andhra's move to review contracts impacts clean energy sector

In the latest edition of Policy 101, Amplus Energy Solutions' Chief Executive Officer and Managing Director, Sanjeev Aggarwal, helps decode how Andhra Pradesh government's move to review contracts has impacted the clean energy sector. Watch the full video for more.

Mint Views: Millennials shifting attitude towards car purchases

Finance Minister Nirmala Sitharaman said on Tuesday that one of the factors affecting the automobile industry is the change in “mindsets” of millennials who prefers to use Ola and Uber cabs rather than own a car. Interestingly, there is data emerging that shows about half of the millennials question the need to own a car. This can partly be explained by the increase in financial awareness that is encouraging them to use their money more judiciously. Another factor could be the jobs uncertainty. All this means the auto industry may have a new trend to adapt to.

Jack Ma steps down as Alibaba's chairman, employees gather to bid farewell

Alibaba chairman Jack Ma formally left the company on Tuesday. Alibaba's employees gathered to bid him farewell. Jack Ma stepped down as Alibaba's chairman on his 55th birthday. The company has been handed over to CEO Daniel Zhang.

Why Not Mint Money | How to close your credit card account the right way

Is the habit of compulsive spending making you swipe your credit cards frequently? Or are you looking for a better card? Whatever be the reason, cutting a credit card and throwing it away does not mean you've closed the credit card account for good. Here's what you really need to do.

Yes Bank shareholding churn: Founder Rana Kapoor may sell part of stake

The shareholding structure at Yes Bank may witness a churn with founder Rana Kapoor in talks to sell a part of his stake. Kapoor is discussing a stake sale with One97 Communications, the promoter of financial services firms Paytm and Paytm Payments Bank. In case such a deal does take place, it would require the Reserve Bank of India's approval since One97 holds a licence for a payments bank.

Rajasthan CM meets Finance Commission, seeks higher tax share for states

Rajasthan Chief Minister Ashok Gehlot met members of the 15th Finance Commission on Tuesday. He was accompanied by his deputy Sachin Pilot in the meeting. Gehlot sought an increase in states' share in the pool of central taxes. He said that states' share should be hiked from 42% to 50%. The Congress leader also sought a share for states in revenue from cesses and surcharges levied by the Centre. He also said that the Rajasthan government was managing finances efficiently despite increasing pressures, while seeking additional financial support and funds for the state.

Mint Views Daily Dispatch | India's dilemma in joining the RCEP

India has expressed reservations on joining the proposed Regional Comprehensive Economic Partnership (RCEP), which would include the ASEAN nations and six other countries, citing a widening trade deficit with China. India’s rival provides support to its industry, which makes it hard for our manufacturers to compete with their firms. Opening our markets further could hurt the interests of our companies. Also, India already has a free-trade arrangement with the ASEAN nations. In that light, it is unclear how significantly this fresh agreement would help. Therefore, policymakers must deliberate carefully before taking the plunge.

Mark To Market | Are commercial vehicle sales anywhere near a bottom yet?

The 59% cut in production of medium and heavy commercial vehicles in August shows the deepening crisis in auto sector- mirrors slowdown in the economy. Market leaders Tata Motors and Ashok Leyland continue to announce production cuts even with the festive season around the corner. Freight rates are falling at rates higher than even during the global crisis time 2008-09. With no signs of a stimulus from the government, and given the added complexity of BS-VI implementation, it may be early to call the bottom.