Jet Airways’ worries are far from over, Bitcoin becomes legal tender in El Salvador and more

A serious countdown to the sale of Air India has begun as the government sets September 15 as the deadline for receiving the financial offers. Jet Airways won’t take off anytime soon, even two years after launch. El Salvador became the first country to introduce Bitcoin as legal tender on Tuesday. For all of these stories and everything in between, here’s some top news of the day.

COMPANIES

Government takes “balanced” approach to e-commerce rules: Consumer Affairs Sec

The government will take a “balanced” approach as it finalizes the proposed changes to consumer protection (e-commerce) legislation as it has received “broad and diverse” comments from stakeholders, a senior official said Tuesday. Continue reading

Reliance Aims to Generate 100 GW of Renewable Energy and Bring Green Hydrogen Costs Below $ 1 / kg by 2030: Mukesh Ambani

Amid the global quest for alternative energy sources, Reliance Chairman Mukesh Ambani said Reliance Industries will create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources by 2030. Continue reading

Government sees September 15th as the deadline for Air India bids

A serious countdown to the sale of Air India has begun as the government sets September 15th as the deadline for receiving Air India’s financial offers. Continue reading

MARKETS

Market at fair valuation, time to book profits in stocks, says Nilesh Shah of Kotak Mahindra AMC

Now is the time to start making profits, market veteran Nilesh Shah told CNBC-TV18 on Tuesday. “We have pointed out over the past few months that this is a fair market. This is a time when equity is balanced. Please don’t let the returns of the last year and a half tempt you to invest in stocks or equity funds. So if you are overinvested and leveraged, it is time to take profits and not be leveraged to get an equal weight, ”said Shah. See the interview here.

Jet Airways’ worries are far from over; why airline isn’t taking off anytime soon

Jet Airways won’t take off anytime soon, even two years after launch. Why? Because the Punjab National Bank asked NCLAT to suspend its bailout plan due to some financial irregularities. The state lender had already approved the plan in 2020. Here is what happens.

IRCTC Share Price Jumps 9% to Record High; Mcap rises above Rs 52,000 crore; Analysts urge caution

The Indian Railway Catering and Tourism Corporation (IRCTC) share price rose over nine percent, hitting a new record high of 3,297.90 rupees on Tuesday. The company’s market capitalization also exceeded Rs 52,000 crore at BSE. Should you buy the stock anyway?

YOU ME

Surf Excel, Rin, Lifebuoy now cost more as Hindustan Unilever increases detergent and soap prices by 3.5-14%

FMCG major Hindustan Unilever has again raised prices for products in the laundry and skin cleansing categories as input costs remain a concern for the fast-moving consumer goods sector. Continue reading

Income Tax Return Filing: Select this ITR form if you have income from capital gains

To the uninitiated, any gain or gain made on the sale of a “capital asset” is a capital gain. This profit or gain is taxed in the year in which the transfer of fixed assets occurs. Continue reading

WORLD

El Salvador is a world leader in adopting Bitcoin as its official currency

El Salvador became the first country to introduce Bitcoin as legal tender on Tuesday. Continue reading

Air strikes protesting in Panjshir, people crowd the streets of Kabul singing “Death to Pakistan”

Afghan protesters, including women, took to the streets of Kabul on Tuesday, shouting “Death to Pakistan”, alleging that Pakistani jets had carried out air strikes in Panjshir province. Continue reading

20 farm animals produce more greenhouse gases than Germany, Great Britain or France, but still receive funding: report

These companies have raised $ 478 billion in funding over the past five years, according to a report by environmental activists. Continue reading

INDIA

The third wave of COVID-19 is here, says Mumbai Mayor Kishori Pednekar

Mumbai Mayor Kishnori Pednekar said Tuesday the financial capital had been hit by the third wave of COVID-19. The surge in cases has worried BMC officials ahead of the Christmas season with Ganesh Chaturthi, which begins September 10. Continue reading

According to the survey, India Inc is set to pay a 9.4% raise in 2022

Indian companies have increased salaries an average of 8.8 percent in 2021 and are expected to pay an average salary increase of 9.4 percent over the next year. Continue reading

Supreme Court grants Center more time in Pegasus snooping case

The Supervisory Committee has given the Center more time to submit a further response to a series of submissions to request an independent investigation into alleged use of the Israeli spyware Pegasus by certain people in India and has scheduled the matter for further hearings in September 13. Read more

(Edited by: Yashi Gupta, Aditi Gautam)

First publication: 07.09.2021, 7.45 p.m.