Mint Morning Digest: RBI MPC results, steel export duty and more
PremiumRead the top business news, equity market precursors, and economic and banking news updates from India and across the world for 5 August, 2022.
RBI set to hike policy repo rates, third time in a row to tame inflation
The Reserve Bank of India (RBI) is likely to hike the policy repo rate by 25 to 50 basis points on 5 August in order to tame the inflationary pressure. Read More Here.
For India Inc, end of downgrade cycle in sight
Indian companies put out an impressive performance in the June quarter amid rising interest rates and inflationary pressures, prompting several analysts to conclude that the worst of earnings downgrades is over. Read More Here.
Centre mulls slashing steel export duty
The Union government may reduce or eliminate the export duty on steel products amid falling prices and rising domestic supply, two people familiar with the matter said, after a similar decline prompted a duty cut on petro products. Read More Here.
'Sarais' under religious or charitable trusts exempted from GST, says CBIC
'Sarais' run by religious or charitable trusts are exempt from the Goods and Services Tax (GST) irrespective of rent, the Union Finance Ministry said on 4 August. Read More Here.
The headwinds on Indigo’s profit path
One of the things that stands out in InterGlobe Aviation Ltd’s June quarter (Q1FY23) results is the strength in its yields, a measure of pricing. InterGlobe runs IndiGo, India’s largest domestic airline. IndiGo’s yields rose to ₹5.24 in the June quarter from ₹4.40 in the preceding three months and ₹3.48 in the year-earlier quarter. Read More Here.
How a celebrity CEO’s rule of fear helped bring down hot startup Zilingo
At first glance, the implosion of vaunted fashion startup Zilingo Pte looked jarringly sudden. Read More Here.
India saw highest net shutdowns globally in H1 2022
India accounted for as much as 85% of internet shutdowns in the first six months of 2022 out of the 10 countries where internet disruptions and restrictions were recorded, according to a new report. Read More Here.
Revealed: The little-talked about nepotism in south cinemas
In Telugu cinema, if it’s a Friday, it must be the family – specifically the four powerful clans of the film industry. Read More Here.
Commonwealth Games 2022 Day 8: India's full schedule and more
Indian players are all set to increase their medals tally across all categories on the eighth day of the Commonwealth Games 2022 in Birmingham on 5 August. Read More Here.
Do long Covid-19 symptoms affect people after getting recovered? Read here
One in eight Covid-19 infected person develops at least one symptom of long coronavirus infections that lasts 90 to 150 days after getting recovered, according to the most comprehensive studies on the condition to date suggested on Thursday. Read More Here.
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