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Top 18 finance news of the day, July 27, 2020

·6-min read

Major finance stories today at a glance:

Gold ETFs vs. sovereign gold bonds: Which is a better investment tool?

Q: Hi, Adhil. Due to the recent spike in gold prices, I’m planning to start investing in the yellow metal. I’m particularly interested in Gold Exchange-Traded Funds and Sovereign Gold Bonds. Which one is the better investment avenue according to you? Kindly advise – Virendra. Read more

Global prospects dim for China's tech champions as great powers clash

Huawei Technologies' [HWT.UL] founder Ren Zhengfei's global ambitions are marked in bricks and mortar at a new company campus in southern China, where the buildings are replicas from European cities. Read more

BSE India INX achieves a new landmark

India INX which is promoted by BSE is India's first International Exchange ( India INX) at Gandhinagar Gift City. BSE reported that India INX has witnessed a new landmark with an all-time high daily turnover of more than USD 4.9 billion. Read more

HDFC Bank tanks 3% as MD Aditya Puri sells nearly all of his stake

On Monday, shares of HDFC Bank fell over 3 percent to Rs 1,081 apiece as the private lender's Managing Director Aditya Puri sold 74.2 lakh shares or 0.13 percent stake worth Rs 842.87 crore in the bank between 21 July and 23 July, according to stock exchange filings. Read more

The morning after: The OnePlus Nord verdict

There’s something alluring about a phone you can’t have. Whether it’s the high-spec gaming phones from ASUS and the like, or Huawei and its technically impressive devices, not everything makes it to the US. Read more

New Honda Africa twin owner takes delivery of bike by 'bashing' dealership stairs: Watch video

Getting a new vehicle whether it be a car or a bike is a special moment in one’s life. Many people plan to do a grand welcome of their latest set of wheels while some like to capture the moment at the showroom by clicking selfies etc. Read more

Huawei cuts India revenue target by up to 50%, laying off staff: ET

(Reuters) - Chinese telecom company Huawei Technologies Co has cut its India revenue target for 2020 by up to 50% and is laying off more than half of its staff in the country, the Economic Times reported on Monday, amid calls to boycott Chinese goods. Read more

This agritech startup by IIT and IIM alumni is bringing fresh produce to your doorstep

For 41-year old Atul Kumar, sourcing fruits and vegetables was always a challenge. The co-founder of Accel-backed edtech startup Edupristine often wondered why the grocery supply chain was always broken. Read more

How BHIVE aims to keep coworking spaces relevant in the time of COVID-19

The rapid spread of COVID-19 resulted in swift action from employers who allowed and encouraged their employees to work from home. However, this had a very damaging impact on the real-estate industry, especially for those who provide coworking spaces. Read more

Moderna gets further $472 million US award for coronavirus vaccine development

Moderna Inc said on Sunday it has received an additional $472 million from the U.S. government's Biomedical Advanced Research and Development Authority (BARDA) to support development of its novel coronavirus vaccine. Read more

China's industrial profit growth quickens, signals firming economic recovery

Profits at China's industrial firms rose for a second straight month and at the fastest pace in over a year, adding to signs the country's economic recovery from the coronavirus crisis is gaining momentum. Read more

Bitcoin rises above $10,000 for first time since early June

After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June. In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. Read more

Elon Musk, our Mars man, speaks about Tesla, SpaceX, romance and more

So how do the King of Mars, his Galactic Princess and their newborn son, X Æ A-XII, spend a Saturday night holed up in their Los Angeles pad? A little anime — lately it’s been “Death Note” and “Evangelion.” Lots of late-night debates about the potential and danger of artificial intelligence. And many audiobooks and podcasts, particularly ones about history. Read more

PUBG Mobile, AliExpress, Ludo World: are more Chinese apps set to be banned in India?

More Chinese owned apps seem to be under the scanner in India at a time when the geopolitical tensions between India and China are at an all-time high. Reports suggest that authorities are scanning as many as 275 more apps for potential user privacy violations and national security threats. This follows the ban on 59 Chinese-owned apps last month, a list that included the very popular social media app TikTok. It is believed that the latest list of apps under the scanner include the incredibly popular game PUBG Mobile, ecommerce platform AliExpress and another popular game Ludo World. Read more

Mukesh Ambani's Reliance Industries Ltd topples ExxonMobil Corporation to become world's number 2 energy company

Reliance Industries Ltd. on Monday became the world's second-largest energy company after Saudi Aramco, reported Bloomberg. Reliance Industries Ltd., controlled by Asia's richest man Mukesh Ambani toppled ExxonMobil Corporation, as investors piled into the conglomerate lured by its digital and retail forays. Read more

4 probable reasons why stock market in India is rallying?

Despite Indian equities ending in the red on July 24, 2020, it has been a sixth consecutive week of gains for the indice, with 50% gains since the market witnessed rout amid coronawoes in the last week of March. So, what is driving the rally even as economy is facing headwinds with most agencies forecasting a huge decline in GDP going forward for FY21. Though, recovery is anticipated by few next year. Read more

Gold prices hit new high as global rates near all time high price; silver hits Rs. 64594/Kg

Gold prices in India once again trended higher on surge in international rates. On the MCX, gold for August delivery was up 1.54% or Rs. 785 at Rs. 51820 per 10gm. Silver too jumps another 5.5% or Rs. 3371 to hit level of Rs. 64594 per kg. Read more

Ficci suggests reopening of foreign air services, cinemas, metro rail in Unlock 3.0

Industry body Ficci in its Unlock 3.0 roadmap has suggested the government to reopen multiplexes and cinemas and metro rail, and allow international flight services, among others, with adherence to all safety precautions. Read more