In the news: Amazon drones, MI4 price cut and more

Though there is not a single business news story which can be termed less important, here are five developments that you must know today.

• Delivery by drone in 30 minutes? Amazon says it's coming  Online US retail firm Amazon says it is developing the technology to use drones to deliver packages in 30 minutes or less, a broad expansion of unmanned flight that is raising concerns about safety, security and privacy.
• Arvind Subramanian questions Rajan's monetary policy stance Making a strong case for reduction of policy rates by the Reserve Bank, Chief Economic Advisor Arvind Subramanian has said the real interest rates are whoppingly very high and have made it difficult for corporates to deal with the problem of high debt.
• Xiaomi slashes MI 4 price to Rs 14,999 Chinese smartphone maker Xiaomi on Wednesday slashed the price of MI 4 16 GB model by 16 per cent to Rs 14,999.
• PM launches 'Narendra Modi Mobile App' Stepping up his digital presence, the Prime Minister on Wednesday launched 'Narendra Modi Mobile App' to provide instant updates and an opportunity to receive messages and emails directly from him.
  
  OVL seeks financial autonomy to invest $1 bn ONGC Videsh has sought greater financial autonomy to decide on investments of up to $1 billion (about Rs 6,400 crore) without government nod to speed up acquisition of overseas oil and gas fields.