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Top 18 finance stories of the day, July 9, 2020

·7-min read
Financial growth of Indian economy
Financial growth of Indian economy

Top financial updates today at a glance:

Diksha App download: How to download, install and use Diksha App in PC & laptops

DIKSHA is a unique initiative taken by the Indian government to leverage existing flexible and highly scalable digital infrastructures with teachers at the forefront. Many teachers across the country are creating and using innovative tech-based solutions in the classrooms. And, even various state governments have encouraged the initiated programs to support teachers in a digital manner with the DIKSHA app. Read more

Shocking facts about how China controls its Internet

There’s been loud protest from China following the ban of 59 Chinese apps by India which has indubitably caused a dent in its economy. However, this retaliation by India to the border standoff issue with China, which is also an effort towards encouraging the ‘Make In India’ initiative and to keep Indian users’ data secure, is a drop in the ocean as compared to the array of options that China has made unavailable within its boundaries by blatantly censoring them. All in the pursuit of being self-reliant. Read more

After India, Australia to ban TikTok over fears of data security threat

Following India and the US, several Australian legislators are proposing to ban TikTok as they too fear the app was being used by the Chinese government to collect users' data, reported the South China Morning Post. Read more

Tata Sons in talks to buy out AirAsia India stake at steep discount - report

Indian conglomerate Tata Sons is in talks to buy out AirAsia Group Bhd's stake in their airline joint venture in India at a steep discount, the Business Standard newspaper reported on Thursday, citing banking sources. Read more

Free LPG cylinder can be availed until Sept under Pradhan Mantri Ujjwala Yojana

Under the Pradhan Mantri Ujjwala Yojana (PMUY), the Union cabinet on Wednesday took a decision to allow individuals to avail free LPG or liquefied petroleum gas until September. Read more

Rupee opens higher at 74.94 per US Dollar

Rupee in Thursday's trade (July 9, 2020) opens higher at 74.94 as dollar steadies to multi-week lows. In the previous session, rupee slipped to 75. 02 per US dollar. The gains are also led by upbeat equities. Read more

Twitter is reportedly considering to launch a paid subscription service to boost revenues

Twitter has hinted that it is planning a paid subscription platform that can be reused by other teams in the future. The news that the micro-blogging platform is building a subscription platform with a team codenamed "Gryphon" resulted in Twitter stock rose over 8 per cent on Wednesday. Read more

Sensex jumps 409 points to end at 36,738, Nifty settles at 10,813, After PM’s address

The Indian stock markets ended the day on a positive note backed by gains in the financial stocks. Investor sentiments further improved after PM Narendra Modi, at the India Global Week Summit, said India was seeing green shoots of economic recovery. "Story of global revival will have India playing a leading role," he said at the event. The Sensex zoomed 409 points or over 1 per cent to settle at 36,738. Nifty, on the other hand, ended at 10,813, up 108 points or 1 per cent. Read more

Yes Bank's FPO worth Rs 15,000 crore to open on July 15

On Thursday, Yes Bank in a stock exchange filing informed that it has filed a red herring prospectus in connection with its proposed follow-on public offer (FPO), through which the lender is aiming to raise Rs 15,000 crore. The lender said that the offer size of the issue is up to Rs 15,000 crore by way of a fresh issue of equity shares, including an employee reservation portion of up to Rs 200 crore. Read more

Samsung may not bundle chargers with its future phones to cut costs

Samsung will reportedly skip bundling a power adapter on its smartphones starting next year. As per the Korean news site, ETNews, the phone maker is considering the move to cut costs that are expected to further rise as new technologies such as folding screens and 5G connectivity make their way onto more phones. The expected timeline suggests Samsung’s next flagship set of Galaxy S phones could be the first to ditch in-box accessories and won’t affect the company’s upcoming new Galaxy Note phones. Read more

Flipkart buys minority stake in Arvind Youth

On Thursday, e-commerce giant Flipkart announced an investment of Rs 260 crore for a minority stake in Arvind Fashions' recently-formed subsidiary Arvind Youth Brands which owns the Flying Machine brand. Read more

What you need to know before investing in Senior Citizen Savings scheme

Everyone aspires to have relaxed and dignified retirement years. For this, it becomes important that you invest in schemes before and after your retirement that provide you assured income once your golden year sets in. The Senior Citizen Saving Scheme (SCSS) is one such government-backed scheme that provides a regular income to retirees. Read more

Samsung to manufacture smartwatches in India

Announcing that it will make the entire portfolio of its smartwatches in India, Samsung India on Thursday launched the first ‘Make in India' Galaxy Watch Active 2 4G (Aluminium edition) for Rs 28,490. The smartWatch will come in three colours - Cloud Silver, Aqua Black and Pink Gold - and will be available starting July 11 across retail stores and leading online portals. Read more

Exclusive: Chinese banks prepare contingency plans over threat of U.S. sanctions - sources

Chinese state lenders are revamping contingency plans in anticipation of U.S. legislation that could penalise banks for serving officials who implement the new national security law for Hong Kong, sources at five state financial institutions said. Read more

Debt reduction only way to end 'poverty trap' for some countries - World Bank chief

The Group of 20 major economies should extend a freeze on official bilateral debt payments by the world's poorest countries through 2021, and permanently reduce the debt load of some of the most heavily indebted ones, World Bank President David Malpass said on Wednesday. Read more

Warren Buffett biggest billionaire loser for 2020

Ace billionaire investor whose investment ideologies are being followed by many has toppled severely to emerge as the biggest loser among top billionaires in the world for calendar year 2020. Yes you guessed it right we are talking about none other than Berkshire Hathaway owner Warren Buffet. Read more

Honda Civic Diesel BS6 launched in India: Prices start at Rs 20.72 Lakh

Honda Cars India has launched the BS6-compliant diesel engine on its Civic sedan in the Indian market. The new Honda Civic diesel BS6 sedan is offered in two variants: VX and ZX, with the lower trim offered at a price tag of Rs 20.72 lakh. The higher-spec ZX trim, on the other hand, is priced at a slight premium of Rs 22.34 lakh. All prices are ex-showroom (Delhi). Read more

WhatsApp spam hack: How spammers are allegedly tricking WhatsApp's anti-spam filter

WhatsApp scammers have reportedly designed a new technique to avoid the anti-spam safety checks that WhatsApp introduced on its platform over the past year. According to a Reddit post, user TheSilentShadow15 alleges that the new technique involves the spammer sending a ‘code’ of some unknown kind to a random individual, and then stating that it was sent by mistake. The spammer then allegedly asks the target user to send it back, and then proceeds to do the same with multiple other people. While the direct intentions or implication of this may not be clear immediately, it appears that this technique may be designed to avoid WhatsApp’s spam detection methods, therefore being potentially serious in nature. Read more