Business
Woman FM saying 'act of god' taken sacrastically: FM
aking on critics, Nirmala Sitharaman on Friday said a "simple woman finance minister saying Act of God is taken sarcastically" while latin word 'force majeure' is well accepted. Speaking in Lok Sabha, Sitharaman -- who is also the country's first woman finance minister -- said her remark is being criticised also because she "looks like a neighbourhood aunty" and asserted that twisting her comment is irresponsible.
Gold dealers bank on festivals for customers
Gold jewelers in India pinned hopes on an upcoming festival season, with dealers offering discounts for a fifth straight week to lure customers back to shops, as activity remained muted in Asian bullion hubs. In India, discounts eased to $23 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, from last week's $30.
India to ask foreign firms to source more local materials for govt projects
India will demand foreign firms use more locally produced materials when working on government-run projects, a government order said late on Friday. Indian authorities have been aggressively promoting Prime Minister Narendra Modi's flagship campaign of a self-reliant economy by urging domestic manufacturers to cut down on imports.
'Total govt liabilities rise to Rs 101.3L cr in Q1'
Total liabilities of the government increased to Rs 101.3 lakh crore at end-June 2020 from Rs 94.6 lakh crore at end-March 2020, according to the latest data on public debt. The total debt of the government stood at Rs 88.18 lakh crore at end-June 2019.
Paytm app restored on Google Play Store
Digital payments company Paytm's main app has been restored on Google Play Store hours after being taken down on allegations of policy violation. Earlier in the day, Paytm app -- which facilitates use of wallet and payments bank services -- was removed from the Google Play store for violation of policy on sport betting activities.
Trump to block US downloads of TikTok, WeChat
The US commerce department plans to issue an order on Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20, three officials told Reuters.
Eco heads for double-digit decline as virus spikes
India’s economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic with more than 5 million infections. Goldman Sachs now estimates a 14.8% contraction in GDP for the year through March 2021, while the ADB is forecasting -9%. OECD sees the economy shrinking by 10.2%.