Top headlines: Made in India iPhone, more defence import embargoes, & more

Here are the top headlines on Tuesday morning

SC seeks govt view on Reliance Jio's liability for RCom's AGR dues

The Supreme Court on Monday asked the Union government whether Reliance Jio could be held liable to pay the adjusted gross revenue (AGR) dues of Reliance Communications (RCom), a bankrupt firm, because the former was sharing spectrum with the latter and earning revenue from it. It sought the annual financial details of RCom because it would be crucial for the judgment on AGR dues. Read More

Apple plans to roll out Made-in-India iPhone 12 by middle of next year

Stepping up its thrust on manufacturing in India, American tech giant Apple is planning to roll out locally made models of its upcoming iPhone 12 by the middle of next year, sources close to the development have said. This will be the seventh iPhone model to be made in the country, giving a boost to Prime Minister Narendra Modi’s Atmanirbhar vision. Read More

Transporters mull surrendering vehicles as loan moratorium comes to an end

Transporters are on the verge of surrendering 50,000 vehicles to financiers, after being hit by sluggish economic activity, low freight availability, and end of the moratorium on August 31. This is based on the estimates of the Indian Foundation of Transport Research & Training (IFTRT), a New Delhi-based think-tank. Read More

Residential property launches back on track as consumer sentiment improves

In signs of green shoots in the real estate sector, several developers have lined up launches in the coming quarters, with consumer sentiment improving and construction activities getting back to normal. Bengaluru-based Prestige Estates, which had put all its launches on hold after the Covid-19 outbreak, plans to start seven residential projects across south India during the second and third quarters. Read More

WFH could mean higher tax for some, altering pay structure may give relief

If you think work from home due to Covid-19 has benefited you by cutting down expenses like daily commutes and eating out, think again. You may end up with a higher income-tax (I-T) bill for the current financial year (2020-21). The reimbursement components of your salary require you to furnish bills before they become tax-exempt. Producing them may be difficult this year. Read More

To make up for lost passengers, carriers bet big on cargo business

SpiceJet is inducting a wide-body Airbus A340 freighter, which will allow it to operate non-stop flights to Africa, Europe and the Commonwealth of Independent States (CIS) countries. While SpiceJet has been the most aggressive in the cargo business (the A340 is its ninth aircraft in the cargo fleet), other carriers, including Air India, IndiGo and Vistara, are growing their freight businesses. Read More

More defence import embargoes soon, industry asked to step up

Senior Army generals and Ministry of Defence (MoD) officials told defence industry executives on Monday that further curbs would be imposed on the import of defence equipment. To help deal with that, the defence industry was issued a list of items that needed to be developed in the country. Read More

Biocon chairperson Kiran Mazumdar-Shaw tests positive for Covid-19

Biopharmaceutical major Biocon’s executive chairperson Kiran Mazumdar-Shaw announced on Twitter on Monday that she has tested positive for Covid-19. “I have added to the Covid count by testing positive. Mild symptoms n I hope it stays that way,” she tweeted late on Monday night. Read More