Yuan drops below 7 per dollar as US-China trade war escalates : Bulletin: Business Today
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Yuan drops below 7 per dollar as US-China trade war escalates

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BusinessToday.In | August 6, 2019

Flipkart to roll out free movies, videos and web series on its app in August

Walmart Inc's Indian unit Flipkart is set to roll out a free video service for all of its 160 million customers this month as the ecommerce company looks for new ways to increase its user base in smaller towns and cities, it said on Monday. Flipkart, based in the southern city of Bengaluru, said it would offer movies, short videos and web series on its app, but added it won't venture into original content right now.

Yuan drops below 7 per dollar as US-China trade war escalates

China let its yuan weaken below 7 to the dollar on Monday, an 11-year low, leading to broad risk aversion on concerns about the escalation of the US-China trade war. Fearful of the impact on global growth, investors dumped export-oriented Asian currencies and rushed into safe havens, with the Japanese yen surging to a seven-month high.

FM Sitharaman to meet representatives of various sectors amid slowdown

Finance Minister Nirmala Sitharaman on Monday said she will meet representatives of various sectors and "fairly quickly" come out with steps to help them. Sitharaman, who on Monday met the heads of public and private sector banks, is scheduled to hold similar meetings during the week with representatives of the micro, small and medium enterprises (MSME) and automobile sectors, industry chambers, markets, real estate and homebuyers.

Article 370 revoked: J&K's depressed property prices will shoot up 50%; locals to gain

The depressed property prices in Jammu and Kashmir will shoot up by up to 50 per cent because of the opening up of the realty market after the government's decision to revoke Article 370. In Srinagar's prime Pantha Chowk area, houses can be bought for as low as Rs 2,300 per sq ft. Besides local markets, the place has a stadium and Kendriya Vidyalaya, but property prices are among the lowest in India, even lower than in the outskirts of most tier 2 cities.

RBI slaps Rs 8.5 crore fine on eleven banks for not complying with fraud reporting

The Reserve Bank of India (RBI) on Monday said it has imposed a collective penalty of Rs 8.5 crore on eleven commercial banks for violating norms on fraud classification and reporting by commercial banks and selected financial institutions (FIs).

ISRO releases pictures of Earth captured by Chandrayaan 2

Space agency ISRO on Sunday released the first set of pictures of the earth captured by Chandrayaan 2, the country's second Moon mission launched a fortnight ago. The pictures were captured by L 14 camera on board Chandrayaan II. The pictures show the earth in different hues.
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