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Top 18 finance stories today at a glance, July 8, 2020

·5-min read

Here are the top 18 finance stories of the day you might have missed:

Jio Platforms receives payment for 9.9% stake from Facebook-owned firm

Late on Tuesday, Reliance Industries Limited (RIL) in a stock exchange filing said that its digital arm Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, a wholly-owned subsidiary of Facebook Inc. Read more

Properties of Nirav Modi worth over Rs 329 crore attached under fugitive economic offenders act

The Enforcement Directorate on Wednesday said it has attached properties of diamond merchant Nirav Modi worth Rs 329.66 crore, which now stand confiscated to the central government under the Fugitive Economic Offenders Act 2018 (FEOA). Read more

Market breaks 5-day winning streak; IT shares drag

The market corrected on Wednesday, snapping a five-day rising streak. Mixed global cues triggered profit booking in domestic shares. IT stocks tumbled while metal shares bucked trend. Read more

Do the stock markets reflect economic reality?

The stock markets have been on a wild ride. After 1-2 month of severe volatility, they have been rallying for the past few weeks. Read more

3 gold investments that can generate superb returns

Gold for 22 grams has been on the rise since the start of the year. The precious metal which was around the Rs 37,000 mark has now galloped to Rs 47,000 for 10 grams. It's always advisable to keep at least 10 per cent of your portfolio in gold. We are suggesting 3 Gold ETFs as an investment and there is nothing to get worried, when you hear the word ETF, as we will explain, how simple investment this is and why you should be buying them. Read more

Facebook expands Instagram reels to India amid TikTok ban

As scores of startups look to cash in on the video content void that ban on TikTok and other Chinese apps has created in India, a big challenger is ready to try its hand. Read more

Over 60% smartphone users in India consider battery life as most important feature: report

With smartphones becoming the primary device for work, streaming and gaming, seven in every eight smartphone users in India feel innovation in the fast-charging technology is the key and long battery life is what matters the most, a new survey revealed on Wednesday. When it came to satisfaction with battery life, OPPO users scored the brand the highest (94 per cent), followed by Samsung (92 per cent) and Realme (91 per cent). Read more

Check the latest fixed deposit interest rates offered by foreign bank

Fixed deposits are popular as they are safe investment bets with assured returns. If you are looking to open a fixed deposit account, take a look at the interest rates offered by prominent foreign banks under Rs. 1 crore. Read more

Government to scale-up Capex of PSUs to revive economy

With a view to pump up expenditure and improve the investment climate in the country hit by COVID-19 pandemic, the government has asked public sector undertakings (PSUs) to become vehicles of growth and complete 50 per cent of their capital expenditure for FY21E before the end of Q2FY21. Read more

JioMeet: Can it overtake Zoom in India?

While most businesses are seeing their revenues shrink drastically because of the coronavirus pandemic, a few have bucked the trend. One such is Zoom, the video conferencing app. Read more

Your view: Would Rahul & Congress have handled the economy better than BJP?

Congress leader Rahul Gandhi tweeted accusing the Bharatiya Janata Party and the media of ridiculing him for warning the country months ahead of the ‘economic crisis’. Share your views

When investing via SIPs doesn’t make sense

A friend of mine called me the other day. He was curious to know if SIPs are a foolproof way to invest in equities? Is there any way they won't work well for me? I went on to explain. Read more

MG Hector Plus to be launched in India on July 13

MG Motor India will launch the MG Hector Plus on July 13. Bookings for the six-seater, three-row SUV have already begun for Rs 50,000. Read more

The curious case of the 250kph speed limiter

A quick dive into the spec sheets of most mainstream German cars will reveal a distinct similarity. An electronically limited top speed of 250kph. Be it a midrange Mercedes-Benz C-class or a full-fledged BMW M car, they all seem to come equipped with the same electronic speed muzzle. Upon initial viewing, it may seem like an attempt to minimise carbon emissions and while that was a factor, the limit’s formation and history is more complex. Read more

CBDT notifies tax exemption on investment from sovereign wealth funds in Indian infrastructure

The Income Tax Department has issued a notification to expand the scope of 'infrastructure' for the purpose of claiming income tax exemption under Section 10 (23FE) of the IT Act to attract more investments into the country. The change gives sovereign wealth funds and global pension funds the benefit of income tax exemption on their investment in Indian infrastructure. Read more

Tata Sons Foundation donates 20 Tata Winger ambulances, Rs 10 crore to Govt of Maharashtra

The Tata Sons Foundation has announced that it has donated 100 ventilators, 20 Tata Winger based ambulances, and an additional Rs 10 crore to the Brihanmumbai Municipal Corporation in order to help fight the Covid-19 virus in the State of Maharashtra. Read more

TikTok to stop operations in Hong Kong over China's new security law

Chinese short-video making app TikTok has said it will quit Hong Kong after China imposed a new national security law. TikTok's decision to stop operations in Hong Kong of its popular video app looks unusual but is strategic, reports BBC. "In light of recent events, we've decided to stop operations of the TikTok app in Hong Kong," a spokesperson was quoted as saying. The short-form video app was launched by China-based ByteDance for users outside mainland China. Read more

Top 5 myths about cloud storage

Have you heard of cloud storage off late? Do you want to store your business data over the cloud? Are you concerned over some myths that stop you from doing so? Hostgator cloud hosting busts the following myths. Watch video