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Top 18 finance news today, July 16, 2020

·5-min read

Top financial updates today at a glance:

In first AGM address, Nita Ambani pledges support for COVID-19 fight

In her first address to Reliance Industries' 43rd annual general meeting (AGM) on Wednesday, 15 July, which happened virtually due to COVID-19 pandemic, Reliance Foundation Founder and Chairperson Nita Ambani promised unconditional support in COVID-19 fight. Read more

No international flights till global aviation industry normalises, focus on bilateral bubbles

Speaking at a press conference today, Hardeep Singh Puri, Civil Aviation Minister said that till the international civil aviation reclaim its pre-COVID numbers and normalize globally, India will rely on bilateral air bubbles for transporting international passengers. Read more

Indian pharma industry capable of producing COVID-19 vaccines for entire world, says Bill Gates

India's pharmaceutical industry will be able to produce Covid-19 vaccines not just for the country but also for the entire world, according to Microsoft co-founder and philanthropist Bill Gates. Read more

After $20 billion Jio frenzy, Ambani seeks money for retail

(Bloomberg) -- After raising more than $20 billion for his digital venture in three months, billionaire Mukesh Ambani is readying his retail unit for global partners, as his oil-to-petrochemicals conglomerate turns to India’s billion-plus consumers for growth. Read more

Gold price 16 July: gold price rises to Rs 49,068 per 10 gram

Domestic gold futures on Thursday, 16 July, fell by 0.19 percent with prices closing at Rs 49,068 per 10 gram. At the same time, silver prices declined by 0.46 percent to Rs 52,815 per kg.

As conditions in COVID-19 hotspots like the United States and India deteriorate, investors have been leaning towards the safe-haven of the yellow metal. Read more

10 longest bridges in the world: majority of them are in China

One of the most significant creations in the history of human kind is the concept of building bridges to provide passage, overcome obstacles, connect places and achieve progress as a society. Read more

Twitter hack: what happened and should I be worried?

Twitter has suffered a major hack which compromised several high-profile accounts as part of a cryptocurrency scam. The social network is currently investigating the security breach, but here is what we know so far. Read more

Uber picks new India and South Asia president

Uber has named Prabhjeet Singh as the new president of its India and South Asia business, filling a role vacated weeks ago after Pradeep Parameswaran was promoted to be the regional general manager in the Asia Pacific region. Read more

Your view: Can Nita Ambani's dream to bring 'Olympics to India' come true?

Speaking at the RIL AGM, 2020, Nita Ambani, Chairperson and founder of the Reliance Foundation, said that it is her ‘dream to see India host an Olympics’. Share your comments

Cybercriminals are ramping up attacks on routers by finding their loopholes, says report

Increase in attacks targeting and leveraging routers will continue as cybercriminals are able to easily monetise these infections in secondary attacks, warns a new report by global cybersecurity company Trend Micro. The research revealed an increase from October 2019 onwards in brute force log-in attempts against routers, in which attackers use automated software to try common password combinations. The number of attempts increased nearly tenfold, from around 23 million in September to nearly 249 million attempts in December 2019. As recently as March 2020, Trend Micro recorded almost 194 million brute force logins. Read more

IMF chief warns global economy 'not out of the woods,' dangers lurk

WASHINGTON (Reuters) - Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, the International Monetary Fund's top official said. Read more

India records trade surplus in over 10 years amid COVID-19

Even though both exports and imports were deep in the red due to the COVID-19 pandemic, official data showed that India emerged as a net exporter in June. As per the data, the country recorded a trade surplus of $0.79 billion in June as against a deficit of $15.28 billion during the like period of 2019. Read more

JC Penney says it will cut 1,000 jobs amid bankruptcy protection fight

JC Penney says it will cut 1,000 jobs as it tries to fight its way out from under bankruptcy protection.

The company last month said it had identified just over 150 stores for closure in the first phase of a restructuring in which it will become a smaller operator. Read more

BBC and Guardian announce job cuts as coronavirus pandemic hits British media

The BBC and the Guardian have both announced job cuts as the economic shock from the coronavirus pandemic continues to ripple through the British media industry. Read more

China's economy recovers from COVID-19, reports 3.2% growth for June qtr

On Thursday, China reported a 3.2 percent growth in GDP (gross domestic product) in the second quarter of 2020, when compared to the same period a year ago. The news comes as lockdown measures to contain the coronavirus outbreak in the country were eased during the April-June period and the Chinese government rolled out stimulus measures to prop up its economy. Read more

Bangkok auto show 2020 kicks off with strict COVID-19 rules

Thailand opened its twice-postponed annual auto show to the public in the country's first large-scale event since coronavirus restrictions eased, with nearly all attendees wearing masks and face shields. Read more

Ficci proposes financial aid, support centres for rehabilitation of migrant workers

To help rehabilitate migrant workers, industry body Ficci has proposed various measures, including mandatory registration requirement, financial support and creation of support centres. Besides, it has suggested making available smartphones to migrant workers that could also help in building a migration database, tracking movement of such workers and providing certain facilities like e-training activities. Read more

Bharat Bond ETF: Who and how should one invest?

Bond ETFs are favoured over other debt products because of low fees as well as high liquidity attribute. Once again investors interested in the investment option can park in their surplus funds into the offer which is open from July 14 to July 17. Read more