Airtel’s Sunil Bharti Mittal called for a tariff hike as he said 35 percent of the revenue generated is given out as levies to the government. Maruti Suzuki India announced a hike across models, sending its shares higher. Zomato’s share price rallied over five percent after the global brokerages Goldman Sachs and Morgan Stanley initiated coverage on the stock. For all these stories and everything in between, here are some top news of the day.

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ECONOMY

Deflation a bigger risk than inflation, Fed may ease again: Macquarie’s Shvets

Viktor Shvets of Macquarie said that the chances of consumer inflation turning negative were quite high and that the US Federal Reserve was unlikely to tighten its monetary policy before late 2022-early 2023. Shvet’s basing his hypothesis on the construct that the financial economy is disconnected from the real economy. Click here to find out more

Sunil Bharti Mittal calls for tariff hike; says 5G will be a reality in 2nd half of 2022

Airtel’s Sunil Bharti Mittal called for a tariff hike as he said 35 percent of the revenue generated is given out as levies to the government. Talking about 5G in India, Mittal said it will be a reality in the second half of 2022. Click here to find out more

Tomato prices crash to Rs 4/kg amid supply glut in most growing states

Tomato prices in wholesale markets in most producing states have crashed to as low as Rs 4 per kg amid supply glut, government data showed. In fact, the wholesale prices of tomato in 23 growing centres out of 31 monitored by the government were down by 50 percent from the year-ago period or below three-year seasonal average. Click here to find out how much it costs your state

Property prices likely to rise by 4-5%; demand for ready-to-move houses robust: Lodha Developers

The demand for ready-to-move-in residential houses is strong and the property prices are expected to increase by 4-5 percent going ahead, said Prashant Bindal, chief sales officer (CSO), Macrotech Developers (formerly known as Lodha Developers). Click here to find out what he said about the demand trend and expansion plan of the company

MARKET

Expect gold to test $1900 per ounce by early next year: Metals Focus

Gold is trading above $1800 per ounce after it gained 2 percent in the previous week. Chirag Sheth of Metals Focus said even if tapering happens, we are not likely to see interest rate hikes till late 2022 or early 2023 and that is something that is supportive for gold. He expects gold to hit $1900 per ounce in the international markets by early next year. Click here to find out why

Morgan Stanley, Goldman Sachs, BofA initiate coverage on Zomato

Zomato’s share price rallied over five percent after the global brokerages Goldman Sachs and Morgan Stanley initiated coverage on the stock. Click here to find out what they said

OPEC+ likely to keep oil output policy from September unchanged

OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters. Click here to find out more about the September 1 meeting

INDIA

Taliban wants friendly ties with Delhi; says won't let Pakistan use Afghanistan against India

Sher Mohammad Abbas Stanikzai, who is tipped to be Afghanistan’s foreign minister, wants to establish a friendly relation with India, neighbouring countries and the whole world. Click to read his exclusive interview

Tokyo Paralympics 2021: Shooter Avani Lekhara, Javelin thrower Sumit Antil win gold

Indian athletes are continuing their dream run at the Tokyo Paralympics following the trend set by their comrades in the recently-held summer Olympics. Take a look at Indians who have secured medals

COVID-19 devastated many lives, heart-wrenching to see survival of children at stake, says SC

COVID-19 has devastated many lives and it is heart wrenching that the survival of children who lost either or both parents during the pandemic is at stake, the Supreme Court said but expressed satisfaction over schemes announced by the Centre and states to provide succour to them.