Have not shared any info of Indian users with Chinese govt: TikTok
on Tuesday said that it has not shared information on Indian users with China or other foreign governments. This came after New Delhi banned it along with 58 other apps with Chinese links. “We have been invited to meet with concerned government stakeholders for an opportunity to respond and submit clarifications,” said Tik Tok India head Nikhil Gandhi in a statement. “TikTok
has democratized the internet by making it available in 14 Indian languages, with hundreds of millions of users, artists, story tellers, educators and performers depending on it for their livelihood," the statement read. Read more here.
Corps Commander-level meeting between India, China underway in Chushul
To resolve the ongoing dispute over Chinese aggression along the Line of Actual Control in Eastern Ladakh area, Corps Commander-level meeting between armies of India and China has started in Chushul on Tuesday. According to sources, the modalities for disengagement from all friction areas in Eastern Ladakh were discussed and these will be taken forward by both sides. Read more.
Indian bond yields fall to over one-week low after special OMO announcement
India's benchmark 10-year bond yield dropped to its lowest level in over a week on Tuesday after the Reserve Bank of India announced a special open market operation to simultaneously buy and sell debt on July 2. The yield dropped to a low of 5.86%, its lowest level since June 22 and down 4 basis points versus its close on Monday. Traders expect the benchmark bond yield to remain in a tight 5.83% to 5.93% range in the near term in the absence of any fresh cues. Read more.
Global annual spend on PPE can hit $50-80bn; China key player: Jefferies
With most experts now fearing a second wave of the Covid-19 to hit the world, the global demand for PPEs such as masks, gowns and gloves could see a sharp spike. The annual spend on PPE may hit $50 – 80 billion, which is a five to eightfold increase from pre-pandemic levels, suggests a Jefferies report. While many other countries are ramping up production, Jefferies believes China will remain the key exporter for most PPE. Read more.
Elon Musk tells Tesla employees breaking even in Q2 will be tight
With one day left before the second quarter closes, Tesla CEO Elon Musk
is telling employees that prospects for the company breaking even for the three-month period are tight, and he's asking them to go all-out to make it happen. Tesla is expected to announce its quarterly deliveries on Thursday, but has not set a date to release its second-quarter financial numbers. Read more.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.