Mukesh Ambani-led Reliance Industries Limited (RIL) on Friday reported a net profit of Rs 13,680 crore for the quarter ended September 30, beating street estimates. Economists remained divided on whether is India on the cusp of sustained 7 percent GDP growth on not. Former RBI governor Raghuram Rajan has warned against the impact of digital US dollars on poor nations. Meanwhile, India has been categorised among 11 nations "highly vulnerable" to climate change by US intelligence agencies. For all these stories and everything in between, here are some top news of the day
BUSINESS/ECONOMY
Is India on the cusp of sustained 7% GDP growth?
Morgan Stanley’s widely respected economist Chetan Ahya has forecasted India’s Gross Fixed Capital Formation or GFCF as a percentage of GDP will go up by six percentage points in the next five years, ensuring a sustained real GDP growth of 7 percent for four years.
Read moreDigital dollar may threaten monetary sovereignty of poor nations, says Raghuram Rajan
Former Reserve Bank of India (RBI) governor Raghuram Rajan has warned the use of digital US dollars may impact poorer nations adversely.
Read moreIndia can become world's edtech capital: Amitabh Kant
Niti Aayog CEO Amitabh Kant said India can become the edtech capital of the world, with both private and public sectors playing a key role.
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MARKETS
RIL Q2 Results: Rs 13,680 crore net profit beats Street estimate
Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) reported a net profit of Rs 13,680 crore for the quarter ended September 30.
That marked an increase of 11.5 percent sequentially.
Read more Nykaa to launch IPO on October 28
FSN E-commerce Ventures, an online domestic brand Nykaa will launch its initial public offer (IPO) on October 28. It aims to raise over Rs 5,000 crore.
Dig deeperSaurabh Mukherjea explains how one paint maker is crushing competition
Paint makers are bearing the brunt of higher input costs due to rising raw material prices. This is reflected in Asian Paints' Q2 numbers, where the profit fell short of Street estimates by a wide margin even though revenue exceeded expectations. But market guru Saurabh Mukherjea remains bullish on Asian Paints yet again.
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INDIA
Many Indians unlikely to be fully vaccinated by year-end despite ample COVID shots
Tens of millions of Indian adults are unlikely to be fully vaccinated against COVID-19 by the end of 2021, despite ample supplies, due to an unusually large gap between the doses of the most widely-used vaccine and growing complacency as cases fall. Read more Date for NEET phase 2 registration, correction in online form extended
The National Testing Agency (NTA) has extended the date for filing up the second phase of the application for the National Eligibility Entrance Test (NEET)-UG 2021.
Check details here Why India is among 11 'countries of concern' in US report on climate crisis
US intelligence agencies have categorised India and 10 other nations as being "highly vulnerable" to climate change, which could lead to more frequent droughts, heat waves, and water and power scarcity.
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INTERNATIONAL
Vaccine inequity can threaten sustainability of global economic recovery: WTO
World Trade Organization’s (WTO) new Director-General Ngozi Okonjo-Iweala is in New Delhi for talks ahead of the WTO ministerial meeting next month. Her biggest worry, she says, is vaccine inequity which can threaten the sustainability of global economic recovery.
Read more Yes, US will defend Taiwan against China, says Biden
The US is committed to defending Taiwan if China were to attack the island nation, US President Joe Biden said, breaking away from the long-held official policy.
Read more Turkey now in 'grey list' of terror funding watchdog; what it means for country
The Financial Action Task Force (FATF) added Turkey and two other countries to its ‘grey list.’ The international organisation deals with monitoring and the setting up of guidelines to combat money laundering and terrorism financing.
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YOU & I
Know about taxes before exchanging gifts this festive season
Whether cash, gold, or silver, exchanging gifts fosters stronger relationships, intimacy, and affection. But many are not aware of one fact related to gifting — receiving gifts attracts taxes too.
Find out more Not an iPhone fan? Try these Android versions
Flipkart is offering an 18 percent discount on Apple phones like iPhone 12, 64 GB and iPhone 12 Mini. But if you are not a fan, check out
these Android options.Google cuts Play Store fees for subscription apps
Technology giant Google on Thursday said it will lower the fee that the company charges developers for subscription-based apps on Play Store from 30 percent to 15 percent, starting January 1, 2022. Read more (Edited by : Kanishka Sarkar and Yashi Gupta)
