The department of telecommunications is pushing for a Rs 74,000-crore revival package for the loss-making BSNL and MTNL on the ground that closing them down would cost higher — around Rs 95,000 crore. The assumption behind the revival package, which involves an attractive VRS package to BSNL’s 1.65 lakh employees, reducing the retirement age from the current 60 years to 58 years, will cut the wage bill of the company which in FY19 was 77% of its revenues.

While Jeff Bezos’ Amazon got under fire last week with its workers launching a global protest, the same had a zero to microscopic effect on the company even with the backing of cause-driven millennials, Eric Schiffer, CEO, US-based Patriarch Organisation told Financial Express Online. “When a reported “15” employees show for the strike, and a small number online, even critics of Amazon know it was a tactical disaster in terms of influencing Amazon,” he said,

Even as the process for disinvestment of national carrier Air India is already set in motion, the government has asked the airline management to start new flights only if it is extremely necessary after due diligence of commercial interest.

The airline has also been asked to put a freeze on large-scale appointments and promotions.

Bankers may be forced to reduce the lending rates further, with Reserve Bank of India governor Shaktikanta Das stressing that the rates are not moving in tandem with cuts in the policy rate.

The central bank has slashed the repo rate by 0.75%, but banks have reduced rates only by 0.1% to 0.2% during the calendar year 2019, Das said in a pre-policy meeting with bank chiefs last week. The RBI's monetary policy is scheduled to be unveiled on August 7.

To reverse the decline in production of natural gas fields in KG-D6 block in Bay of Bengal, Reliance Industries (RIL) said it is likely to start production at the three new sets of discoveries in the block by mid-2020.

The production decline in the blocks over the years has brought it to 'late life stage' though it has not plummeted to an all-time low.

As many as 32 people were killed in Uttar Pradesh due to lightening on Sunday, said officials.

A day earlier, the lightening had claimed one life in the state, while two others had died of snake bites on July 18 and 20 respectively, the statement said.Thirteen 13 others were injured due to lightening, the statement added.

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world's biggest buyer.

Two and a half months after the White House banned the purchase of Iran's oil, the nation’s crude is continuing to be sent to China where it's being put into what's known as "bonded storage," say people familiar with operations at several Chinese ports.

At least nine people, including six policemen, were killed and around 40 others injured in northwest Pakistan on Sunday in a terror strike on a checkpost and a subsequent suicide blast by a burqa-clad woman at a hospital where the victims of the first attack were shifted.

Former chief minister Sheila Dikshit passed away on Saturday, hours after she was admitted to Fortis Escorts hospital in New Delhi.

Three-time Delhi chief minister from Congress, Dikshit was brought in the morning of July 20 to Fortis Escorts Heart Institute, Okhla, in a critical condition with a cardiac arrest," the hospital said in a statement.

Punjab Chief Minister Amarinder Singh on Saturday accepted the resignation of Navjot Singh Sidhu from the Cabinet.

“Captain Amarinder Singh has accepted Navjot Singh Sidhu’s one-line resignation and forwarded the same to the Governor,” said an official spokesperson.

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