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Nandan Nilekani has a word of caution on Covid apps

Nandan Nilekani has a word of caution on Covid apps

Infosys Chairman Nandan Nilekani has cautioned that contact tracing apps run the risk of increasing state power and must be rolled back once normalcy returns.

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Facebook workers speak in one voice on Trump episode

Facebook workers speak in one voice on Trump episode

It’s rare for Facebook employees to speak publicly about internal activity unless they have permission from the communications team. The company in the past has punished and discouraged leaking. Now, Facebook has changed that approach.

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GST Council to discuss issue of late fee in next meet

GST Council to discuss issue of late fee in next meet

In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said, "Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting."

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China trolls U.S. over protests after Trump slams HK

China trolls U.S. over protests after Trump slams HK

Over the weekend, China’s foreign ministry and state media seized the opportunity to fire back at Trump. Chinese propaganda outlets played up scenes from the U.S. of violence, burning buildings, harsh police responses and protesters decrying government as part of a broader narrative.

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Wipro readies for covid impact on gross margins

Wipro readies for covid impact on gross margins

The Bengaluru-based firm noted that the conditions caused by the COVID-19 pandemic can affect the rate of customer spending, including through cancellations or ramp-downs of existing projects, increased requests for furloughs and price discounts.

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Data of over 7 million BHIM site users leaked: Report

Data of over 7 million BHIM site users leaked: Report

“There has been no data compromise at BHIM App ... NPCI follows a high level of security and an integrated approach to protect its infrastructure,” it said.

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PNB cuts repo-linked lending rate by 40 bps to 6.65%

PNB cuts repo-linked lending rate by 40 bps to 6.65%

For senior citizen, it is offering a higher interest rate of 75 bps over applicable card rate for all maturities on domestic deposits up to Rs 2 crore.

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Govt extends validity of scrips for exporters

Govt extends validity of scrips for exporters

Depending on the nature of services and product, the government gives duty credit scrips or certificates to exporters. These scrips can be transferred or used for payment of a number of duties including the basic customs duty.

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CNG price in Delhi hiked by Re 1 per kg

CNG price in Delhi hiked by Re 1 per kg

The company had last cut CNG price by Rs 3.2 per kg and piped natural gas rate by Rs 1.55 per unit from April 3.

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Are the bank lending targets unfeasible?

Are the bank lending targets unfeasible?

Gandhi, who used to handle the banking regulation function at the central bank, said all the banks put together gave out incremental loans of Rs 6 lakh crore in the entire fiscal year 2019-20, when the growth had not plummeted as it is expected to now.

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Cabinet Decisions: MSP raised for 14 kharif crops

Cabinet Decisions: MSP raised for 14 kharif crops

Street vendor loan scheme approved; Kharif minimum support prices raised.

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'Many factors to be addressed before starting int'l flights'

'Many factors to be addressed before starting int'l flights'

Within India, most international flights operate from the metro cities where travellers arrive from the neighbouring cities and states, he said.

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Ensure punctuality of Shramik Special trains: Goyal

Ensure punctuality of Shramik Special trains: Goyal

In the order issued to the general managers of its zones, the board said punctuality needs to be enforced in the operations of these trains.

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PV demand may drop by almost a quarter in FY21: ICRA

PV demand may drop by almost a quarter in FY21: ICRA

The rapid spread of COVID-19 across the region and consequent lockdown extension has wiped off volume during the first two months (April-May) of the current fiscal, ICRA said.

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Budget target breach signals more blowout this year

Budget target breach signals more blowout this year

The government racked up a budget deficit of 4.6% of GDP in the fiscal year that ended in March.

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'Biggest challenge to put financial sector back on feet'

'Biggest challenge to put financial sector back on feet'

Getting the financial sector back on its feet will remain the government's number one challenge, Panagariya said.

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AirAsia offers 50k seats without base fare to doctors

AirAsia offers 50k seats without base fare to doctors

Under the RedPass initiative, AirAsia India will give away 50,000 seats without any base fare on flights across its domestic sectors to doctors as a gesture of gratitude for their commendable efforts in support of the nation, the airline said in release.

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Hero MotoCorp sees 83% decline in sales during May

Hero MotoCorp sees 83% decline in sales during May

Total motorcycle sales stood at 1,06,038 units last month as against 6,06,216 units in May 2019, down 82.5 per cent.

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Covid to shave $25 bn off from top 100 brands' value

Covid to shave $25 bn off from top 100 brands' value

"As the new coronavirus pandemic wreaks havoc on the global and national economy, the country's top 100 most valuable brands could lose up to 15 per cent of brand value cumulatively, a potential drop of nearly USD 25 billion compared to the original valuation as of January 1, 2020," a report by Brand Finance said.

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Digital payment on NPCI channels rebounds in May

Digital payment on NPCI channels rebounds in May

Transaction volumes recorded on channels such as Unified Payments Interface (UPI), Immediate Payment System (IMPS), Bharat Bill Payment System and National Electronic Toll Collection (NETC) inched towards pre-covid levels signifying a slow revival in commercial activities and early signs of consumer appetite to spend.

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Trump took shelter in WH bunker as protests raged

Trump took shelter in WH bunker as protests raged

Trump spent nearly an hour in the bunker, which was designed for use in emergencies like terrorist attacks, according to a Republican close to the White House who was not authorized to publicly discuss private matters and spoke on the condition of anonymity.

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New Kia Seltos launched, prices start @Rs 9.89 lakh

New Kia Seltos launched, prices start @Rs 9.89 lakh

The refreshed Seltos now comes equipped with ten new features related to safety, convenience, connectivity and design, over and above other key enhancements, the company said in a statement. Moreover, many existing features in higher variants such as sunroof are now available in lower variants too, the statement added.

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Retail credit drops to record low: SBI economists

Retail credit drops to record low: SBI economists

Retail credit declined by 2.5 per cent, the lowest level since 2008, from when the data series started, it said, expecting that the decline will continue as Maharashtra has extended the lockdown till June 30.

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Rich world's jobs crisis jolts money flows to millions

Rich world's jobs crisis jolts money flows to millions

The World Bank has said it expects global remittances to low- and middle-income nations to fall by $109 billion, or almost a fifth, in 2020 to $445 billion. The bank projects the pandemic will cut into the wages and employment of migrant workers, who tend to be the most vulnerable when there is an economic downturn in host countries.

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Petrol sales down 36.5%, diesel down 31% in May

Petrol sales down 36.5%, diesel down 31% in May

Diesel sales fell 31% year on year in May compared with a 56% slump in April while petrol consumption declined 36.5% in May as against a 60% decline in April. May data is for sales by state companies, which control about 90% of the fuel market.

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Lockdown extension to have deep impact on economy

Lockdown extension to have deep impact on economy

The central government has been reopening parts of the economy, while continuing with the lockdown in COVID-19-affected parts of the economy, which contribute over 60 per cent of the GDP.

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Contact-tracing apps pose a huge danger to privacy

Contact-tracing apps pose a huge danger to privacy

These apps have garnered several million downloads already, but many lack a clear or strong privacy policy although they collect personal information such as location data, photos, media, camera, call information, WiFi connection information and device ID, privacy advocates said.

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Mahindra sales dip 79% in May, exports fall 80%

Mahindra sales dip 79% in May, exports fall 80%

In the domestic market, sales were down 79 per cent to 9,076 units last month compared to 43,056 units in May 2019. Exports during the period under consideration dropped by 80 per cent to 484 units as against 2,365 units in the year-ago month.

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Russian Covid drug to be delivered to hospitals in June

Russian Covid drug to be delivered to hospitals in June

Avifavir is Russia’s first COVID-19 drug and has shown high efficacy in treating patients with coronavirus during clinical trials. Avifavir has received a registration certificate from the Ministry of Health of the Russian Federation. Thus, Avifavir has become the first Favipiravir-based drug in the world approved for the treatment of COVID-19.

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Hyundai sales decline 79 per cent in May

Hyundai sales decline 79 per cent in May

"The company has made a humble beginning towards normalcy by registering cumulative sales of 12,583 for the month of May," HMIL Director (Sales, Marketing & Service) Tarun Garg said in a statement.

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Wajid Khan laid to rest after he succumbed to corona

Wajid Khan laid to rest after he succumbed to corona

The composer was admitted at a Chembur Hospital, where his condition deteriorated.

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Power consumption dips 14% in May due to lockdown

Power consumption dips 14% in May due to lockdown

However, the slump in power consumption has narrowed down in May to 14.16 per cent from 22.65 per cent recorded April in this year. The entire month of April had witnessed low power demand due to COVID-19 lockdown.

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View: The perils of an inward-looking India

View: The perils of an inward-looking India

Though the PM clarified that his call for self-reliance should not be mistaken for “self-centric arrangements”, this is cold comfort for those who remember the suffocating drabness of pre-liberalisation India.

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India asks internet providers to block WeTransfer

India asks internet providers to block WeTransfer

"At this moment in time, WeTransfer seems to be blocked and unavailable in India," WeTransfer said in a blog post. Founded in 2009 in the Netherlands, WeTransfer allows users to upload and share file of up to 2GB for free at one time. Paying users can share files of up to 20 GB per transfer. The DoT did not immediately respond to a request for comment.

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The future of the global economic order

The future of the global economic order

With the shifts in global economic order, political landscape and social behavior all taking place simultaneously, it is safe to say we have only begun to get a glimpse of what the other side of the pandemic has in store for humanity. While an industrial revolution was already in progress, the pandemic has accelerated the process and created even more complications.

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AGC to acquire Fujisoft for better reach in MEA region

AGC to acquire Fujisoft for better reach in MEA region

The proposed acquisition will also enhance the current solution portfolio of AGC and Black Box across cloud computing and virtualisation, cyber security, managed services, data centre and collaboration solutions, a statement said.

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ATF price up by 50%, LPG cylinder to cost Rs 11.5 more

ATF price up by 50%, LPG cylinder to cost Rs 11.5 more

Rates of subsidized gas have been rising following a government directive last year to hike prices by at least Rs 4 every month.

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India's May jobless rate at 23.48%, says CMIE

India's May jobless rate at 23.48%, says CMIE

India's infrastructure output, contributing nearly 40% in industrial production, contracted 38.1% in April from a year earlier, the worst performance in years, government data showed on Friday.

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Auto sector capex falls a staggering 18% in FY20

Auto sector capex falls a staggering 18% in FY20

Auto makers including TVS and Ceat have announced capex cuts. Ceat has announced a 33% or Rs 250-crore cut in capex to Rs 500 crore, while TVS Motor has announced a capex of Rs 300 crore down 58% from the Rs 719 crore spent last year. Others like Hero MotoCorp have announced they will defer capacity expansion and other investment plans.

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India's factory slump deepens in May

India's factory slump deepens in May

Demand was subdued despite both input and output prices declining for a second straight month, signaling easing in overall inflation, which would give the central bank room to ease policy further. The RBI has already taken a series of aggressive policy actions, including a cumulative rate cut of 115 basis points, since the lockdown was imposed on March 25.

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Engine deadline extended for IndiGo, GoAir

Engine deadline extended for IndiGo, GoAir

On Monday, the regulator said: "We took a call a couple of days back and instructed both the airlines. Both taken together about 60 engines are yet to be replaced and the obvious reason was COVID-19 impact and the resultant lockdowns."

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Wuhan’s mass testing may have eradicated coronavirus

Wuhan’s mass testing may have eradicated coronavirus

Of the 60,000 people tested on Sunday, no cases of asymptomatic infections were found, said the Wuhan municipal health commission on Monday. In an ambitious effort to guard against a resurgence of cases, Wuhan is testing its entire 11 million population for the virus and has found some 200 asymptomatic cases in the past two weeks.

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Indian-American doc lauds India's corona efforts

Indian-American doc lauds India's corona efforts

India currently has over 1,82,00 confirmed cases of the coronavirus and 5,164 deaths, according to the Union Health Ministry. According to the World Health Organisation's COVD-19 tracker, India is the seventh-most affected nation in terms of coronavirus cases after the US, Brazil, Russia, UK, Spain and Italy.

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Tea consumption falls 25-30% during lockdown period

Tea consumption falls 25-30% during lockdown period

Out-of-home tea consumption accounts for nearly 40% of the total domestic sales of the beverage, said Viren Shah, chairman of the Federation of All India Tea Traders Association (FAITTA). “The average monthly domestic consumption is 90 million kg. Of this, out-of-home consumption accounts for 36 million kg.

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Maruti sells 13,865 units in the local market in May

Maruti sells 13,865 units in the local market in May

The company exported 4,651 units following resumption of port operations at Mundra and Mumbai port, ensuring that all guidelines for safety were followed. The company also sold 23 units to alliance partner Toyota in this period.

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Covid impact: Retailers threaten to exit malls

Covid impact: Retailers threaten to exit malls

The move, which comes against the backdrop of the Centre allowing malls to reopen, is expected to help retailers — from Future Group and Arvind Brands to Lenskart and Bata — tide over nine to 12 months of less-thanusual footfalls.

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A bet on China consumers backfires for richest Czech

A bet on China consumers backfires for richest Czech

Kellner’s fortune, now at $10 billion, has dropped the most this year among the richest eastern Europeans outside of Russia, mostly because of a $1.5 billion plunge in the value of his stake in Home Credit. It’s now worth an estimated $2.8 billion, based on the performance of publicly traded peers, according to the Bloomberg Billionaires Index.

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Virus cases in India rise by 8,392 in past 24 hours

Virus cases in India rise by 8,392 in past 24 hours

As per the current trends, India has now overtaken Germany in total cases to become the eighth hardest-hit nation, and will soon pass France to become the seventh. Deaths, too, in India have been rapidly rising of late. But on the bright side, the mortality rate here (2.9%) is still way below other worst-affected countries.

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Post-Covid: Swoosh, pipe, Z, L..shape of our future

Post-Covid: Swoosh, pipe, Z, L..shape of our future

Predicting recovery graphs, economists add cool shapes to plain vanilla V or U trajectories. There’s the Swoosh, a recovery pattern that looks like Nike’s famous logo. There’s the smoking pipe graph. There’s a W, Z and an L. Entirely predictably, because they can never agree on anything that’s important, different economists are championing different shapes, including in India.

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A scheme with an excellent track record

A scheme with an excellent track record

This fund, earlier known as Kotak Select Focus, continues to maintain a large-cap tilt in its revised positioning as a multi-cap offering. The fund’s performance has slipped over the past 12-18 months but remains an outperformer over 3 and 5 years.

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