India emerges as 5th largest forex reserves holder globally
With USD 608.99 billion in foreign exchange reserves as of June 25, 2021, it forms the top 5 alongside China, Japan, Switzerland and Russia. The current account and capital account surpluses in India's balance of payments in 2020-21 contributed to a gain in foreign exchange reserves during the year.
Source - Republic World
Farmers reach Jantar Mantar to protest against farm laws
The Delhi Disaster Management Authority (DDMA) has granted permission to farmers, who have been protesting against the Centre’s farm laws to hold staggered protests at Jantar Mantar which started today. Farmers plan to protest against the government and hold ‘Kisan Sansads’ on each working day of the Parliament until the monsoon session ends. Farm leaders said that contingents of 200 farmers will reach Jantar Mantar for the protest each day.
Source - Indian Express
IT raids on Dainik Bhaskar group
The searches are being conducted across several locations in Madhya Pradesh, Maharashtra, Delhi, Rajasthan, and Gujarat. In a message posted on its website, Dainik Bhaskar said that the government raids have come against it as it put out the “true picture of the government’s inefficiency before the country during the second wave of COVID-19.”
Source - Indian Express
Sensex rallies 638 points, Nifty ends above 15,800
Broader markets closed in the green with small cap indices outperforming benchmark indices. India VIX closed 10% lower. Financials and IT stocks were among the top gainers on Sensex as Tech Mahindra zoomed 5.4% to end as top index gainer, followed by Bajaj Finance, Bharti Airtel, and Bajaj Finserv. Only HUL, Bajaj Auto, Asian Paints, and Mahindra & Mahindra closed with losses.
Source - Financial Express
Dubai creates fake rain to deal with extreme heat
Dubai is undergoing a sweltering summer. In fact, the temperatures in the place surpassed 50 degree Celsius at one point. In order to beat the heat, enhanced rain is created using drone technology known as cloud seeding. The innovative tech gives clouds an electric shock that makes them clump together to produce precipitation.
Source - Indian Times
Union cabinet approves Central University in Ladakh
Union Minister of Information and Broadcasting Anurag Thakur informed that the cabinet has approved the establishment of a Central University in the union territory of Ladakh, at a cost of INR 750 crore. The cabinet has also approved an integrated multi-purpose corporation in Ladakh. The corporation will help in infrastructure cooperation and will act as the main construction agency.
Source - Hindustan Times
Zomato shares to list tomorrow
The company is set to list its shares on July 23 ahead of its scheduled date of July 27. The issue price has been fixed at INR 76 per share. Zomato witnessed the highest subscription among the IPOs that raised more than INR 5,000 crore each in the last 13 years.
Source - Moneycontrol
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