At least 28 people died in Uttarakhand on Tuesday as incessant rain continued to lash various parts of the state. GST Council is likely to consider one single tax rate for online gaming, racecourses, casinos and that could be as high as 28 percent. As food delivery platform Zomato faced backlash on social media over a customer service executive referring to Hindi as the national language, the company’s founder and CEO Deepinder Goyal called for a higher level of tolerance  For all these stories and everything in between, here are some top news of the day

BUSINESS/ECONOMY

GST council likely to consider single tax rate for online gaming, race courses & casinos 

GST Council is likely to consider one single tax rate for online gaming, racecourses, casinos and that could be as high as 28 percent. The industry, especially the online gaming world, has been pitching for 18 percent in a lot of submissions. Read more

Govt constitutes panel on future taxation policy for tobacco 

The government has constituted an expert panel on future taxation policy for tobacco. The committee is formed by the Ministry of Health & Family Welfare. The panel will suggest recommendations from Budget FY23 onwards. Read more

Moody’s upgrades banking system outlook to ‘stable’

Moody’s Investors Service on Tuesday raised the outlook for the Indian banking system to ‘stable’ from ‘negative’ citing moderate deterioration of asset quality since the onset of the pandemic and likely pick-up in credit growth with economic recovery. Read more

MARKETS

HUL Q2 result: Net profit rose 9% YoY 

Hindustan Unilever (HUL) reported a 9 percent rise in net profit to Rs 2,187 for the second quarter of this financial year as compared to Rs 2,009 crore reported a year ago. Check out key highlights here

ITC declines 5%, tobacco pack trades mixed

ITC share price declined nearly 5 percent after the government formed a committee for future taxation policy for tobacco. Different tobacco stocks reacted differently to the news. Dig deeper

Bitcoin Futures ETF set for debut

ProShares has is set to launch Bitcoin Futures ETF with the ticker symbol BITO Tuesday. It is the latest milestone for bitcoin and ETF industry. Dig deeper

INDIA

At least 28 dead as rains wreak havoc in Uttarakhand; Nainital cut off from rest of state

At least 28 people died in Uttarakhand on Tuesday as incessant rain continued to lash various parts of the state, especially Kumaon region, razing houses to the ground and leaving many trapped in the debris. Continue Reading

Maharashtra allows shops to remain open till 11 pm, eateries & restaurants till midnight

Citing the festive season and to avoid crowding at these places during the limited hours, the state government has allowed restaurants and eateries to remain open till midnight and other establishments like shops till 11 pm. Continue Reading 

India delays COVID-19 vaccine supplies to WHO-backed COVAX

India has delayed committing supplies of vaccine to the COVAX global sharing platform, two sources told Reuters on Tuesday, a day after one of its key backers, the WHO, said the agency could not “cut corners” to approve a domestically developed vaccine. Continue Reading

 

 

WORLD

Communal violence rocks Bangladesh; here’s what happened

Several incidents of communal violence, including attacks on places of worship of minority communities and torching of houses of Hindus, were reported across the country. Continue Reading

US bill would stop big tech companies like Amazon and Google favouring their own products

About a dozen US senators from both parties on Monday formally introduced a bill that would bar Big Tech platforms, like Amazon and Alphabet’s Google, from favoring their products and services. Continue Reading

Climate report: Africa’s rare glaciers soon to disappear

Africa’s rare glaciers will disappear in the next two decades because of climate change, a new report warned on Tuesday amid sweeping forecasts of pain for the continent that contributes least to global warming but will suffer from it most. Continue Reading

YOU & I

Smartphones may soon replace metro cards 

The Delhi Metro Railway Corporation (DMRC) is working on a new facility that will allow commuters to pay for their fares more easily. It will update near field communications (NFC) facilites so commuters can make payments via smartphones. For details, click here

After ‘Hindi national language’ row, Zomato’s Deepinder Goyal calls for more ‘tolerance, chill’

As food delivery platform Zomato faced backlash on social media over a customer service executive referring to Hindi as the national language, the company’s founder and CEO Deepinder Goyal called for a higher level of tolerance on Tuesday. Continue Reading

 

(Edited by : Aditi Gautam, Yashi Gupta)

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