Here's a rundown of 11 significant news stories to keep you in the know:
#TopNews 🚨
India’s petroleum minister says he will push for a cut in petrol, diesel prices
In a determined move to alleviate the burden on the common citizen, union minister for petroleum and natural gas, Hardeep Singh Puri on Wednesday (August 30) announced his unwavering commitment to advocate for a reduction in petrol and diesel prices across India.
In an exclusive conversation with Shereen Bhan, Puri revealed that the central government is set to intensify efforts to encourage state governments to join in the effort to lower fuel prices.
PhonePe launches its own stockbroking platform, app to be called share(dot)market
PhonePe, a digital payment platform, on Wednesday announced its foray into stock broking with Share (dot) Market, under its subsidiary PhonePe Wealth Broking. The announcement is a significant milestone for PhonePe, marking the completion of offerings in its financial services bouquet, Sameer Nigam, the CEO and Co-Founder of the company said. "Earlier this year, the company had introduced innovative solutions such as PinCode, but this new offering is our biggest launch of the year," Nigam said.
Softbank sells 1.16% stake in Zomato for Rs 947 crore
The Japanese conglomerate Softbank on Wednesday (August 30) divested a 1.16 percent ownership stake in online food ordering company Zomato for Rs 947 crore. The transaction, executed through an open market operation, saw Softbank's affiliate — SVF Growth (Singapore) Pte — offload the shares of Zomato on the National Stock Exchange.
Following this strategic manoeuvre, Softbank's overall shareholding in the company has declined, settling at 2.19 percent from the previously held 3.35 percent stake at the conclusion of the June quarter, shareholding data showed with the bourse.
G20 summit Delhi: Lifesize langur cutouts placed by civic authorities to scare away monkeys
Lifesize cutouts of langurs at several places and a group of 30-40 men who can mimic sound of the distinctive black faced simian will be used by the New Delhi Municipal Council (NDMC) to keep monkeys away in the capital city as it hosts the G20 summit.
The NDMC along with the Forest Department of Delhi government have taken measures to prevent any mismanagement that monkeys could cause on September 9-10, when the G20 summit will be held.
#TechTalks
Apple tests using 3D printers to make devices in major manufacturing shift
Apple Inc. is testing the use of 3D printers to produce the steel chassis used by some of its upcoming smartwatches, according to people with knowledge of the matter, heralding a major change to how the company manufactures products.
The technique would obviate the need to cut large slabs of metal into the product’s shape. That would reduce the time it takes to build devices while also helping the environment by using less material, according to the people, who asked not to be identified because the plan is private.
#InDepth
#StockMarket
BSE revises expiry day of Bankex derivatives contracts to Monday from Friday - Details here
Based on the Feedback from market participants, the Bombay Stock Exchange has revised the expiry day of the derivatives contracts of the S&P BSE Bankex to Monday from Friday earlier. The changes will be effective starting October 16, 2023, the statement said.
The new contracts of the S&P BSE Bankex with an expiry on Monday will be generated on October 13, 2023 end of the day and will be available for trading on October 16, 2023.
#PersonalFinance
Is your income tax refund delayed? Know possible reasons and what you should do now
While receiving an income tax refund is a cause for celebration, others might find themselves still awaiting their refunds. In such cases, it's important to understand the potential reasons for these delays and the steps to address the situation.
Silver ETFs offer short-term challenge but long-term potential: Should investors dive in?
Silver exchange-traded funds (ETFs) have witnessed a diverse performance in recent months. Over a span of one month, these ETFs experienced losses of approximately 6.48 percent and, over a span of three months, 2.57 percent. However, the past year painted a brighter picture, with a gain of 20.60 percent. Despite recent fluctuations, silver ETFs have shown resilience in the market since their introduction in 2022.
#ExpertEdge
Leaders Speak | Know this HR trend that redefines recruitment process
In the dynamic world of talent acquisition, zero-touch Applicant Tracking Systems (ATS) are pioneering a new era. These systems are transforming the recruitment landscape, facilitating a process devoid of human intervention. Studies and research insights are substantiating this innovation, particularly highlighting the considerable cost savings it can bring.
Zoomed Out | Has RBI presented home loan borrowers the Hobson’s choice —explained
The Reserve Bank of India (RBI) on August 18, directed banks to allow individual home loan borrowers paying EMIs (equated monthly installments) under the flexi interest dispensation to opt for from a bouquet of options namely (1) fixed interest rate system or (2) increasing the loan amount or (3) extension of loan tenure —a move aimed at preventing loanees from falling into the trap of negative amortisation, in wake of rising interest rate as has been happening of late much to the chagrin of such borrowers. It has mandated banks and home loan companies to implement this diktat by December 31, 2023.
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First Published: Aug 31, 2023 12:55 PM IST
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