Markets Watch
Reliance biggest gainer
Reliance (RIL), India's largest conglomerate, rose 145 percent from its March 23 low. This makes RIL the biggest gainer among Nifty stocks. A combination of its enduring oil business, as well as the increasing popularity of its digital services, helped them beat analyst estimates. Here are all the details.
Big Story
America in shambles
The US economy shrank at a 33 percent annual rate in the April-June quarter, which has been the worst quarterly plunge. The previous worst quarterly drop can be traced back to a 10 percent drop, which occurred in 1958 during Eisenhower's term. Here, are the circumstance that resulted in the current plunge.
Your Money
Not all that glitters...
Recently, gold made a new high in July. As a result, investors and speculators of the precious metals have also been accumulating silver citing high levels of gold-to-silver ratio. If seen from a trading perspective, silver has already jumped from $18 to $24 which is already a rate of return of over 30 percent. While all fingers point in the right direction, how high can silver really reach? Here are the details.
Global Watch
Passing the buck
Applauding President Trump for taking on "imbalance" to make the World Trade Organization (WTO) relevant, US Senator Chuck Grassley took to the floor. Grassley said, that China and India have gotten a lot richer over the last two decades, but have refused to take responsibility. Further, the Senator said that comparing either of the two to a country like Cameroon is "ridiculous". Here is why this the case.
Tech Tattle
Green marks the spot
Swedish streaming company Spotify touched 299 million monthly active users in the second quarter. This shows that they rebounded quickly from the lows brought on by the coronavirus pandemic. With paying subscribers reaching almost 138 million in total, here is how they beat analyst estimates.
Startup Tales
From seed to sprout
Ritesh Agarwal, Founder of OYO has floated the idea of a venture capital fund. "Aroa Ventures" will focus on early-stage startups the sectors of leisure, technology, infrastructure, and consumer. Here is what we know so far.
Tailpiece
It only takes a drop
Mecca which saw some 3 million white-clad pilgrims from across the world for haj for years, will now only receive a handful of visitors. This year, Saudis and foreign residents will be taking to these holy sites to pray for the eradication of the coronavirus. Read more to hear their story.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
