Top headlines: PM announces Taxpayers' Charter, US relaxes H-1B visa rules

Here are the top headlines of the day

ByteDance in talks with Reliance for investment in TikTok: Report

China's ByteDance is in early talks with Reliance Industries Ltd for investment in its video-based app TikTok's business in India, TechCrunch reported on Thursday, citing sources. The two companies began conversations late last month and have not reached a deal yet, according to the report. Read more
 

PM Modi announces charter for 'fair, courteous' tax collection

Taxpayers won’t be harassed or treated with suspicion, said Prime Minister Narendra Modi on Thursday as he announced a charter listing their rights and responsibilities. The tax system will be "seamless, painless and faceless", said he in a televised speech. All interaction between the tax department and payers will be online to remove the scope of harassment and corruption. Read more

SC allows registration of BS-IV compliant vehicles sold before lockdown

The Supreme Court on Thursday allowed registration of BS-IV vehicles that were sold in March but couldn't complete the process due to the coronavirus-induced nationwide lockdown, reported The Times of India. The ruling applies to vehicles whose details were uploaded on the government’s Vahan portal. Read more

Trump admin relaxes rules for some H-1B visas, allows spouses to travel

The Trump administration has relaxed some rules for H-1B visas holders, allowing them to enter the United States if they are returning to the same jobs they had prior to the proclamation of the visa ban. "Travel by applicants seeking to resume ongoing employment in the United States in the same position with the same employer and visa classification," the state department advisory said. Read more

PE/VC investments drop 51% to $4.1 billion as big deals shrink in July

PE/VC investments in July 2020 stood at $4.1 billion, down by 51 per cent compared to $8.4 billion in July 2019. The decline was due to fewer large deals across segments. Nonetheless, if we exclude the investments in Jio Platforms, July 2020 has been the best month so far in 2020, recording investments worth $3.7 billion. Start-ups recorded $272 million in investments across 40 deals (80% decline y-o-y). Read more

Zydus launches cheapest remdesivir at Rs 2,800 per 100 mg vial in India

Pharma major Cadila Healthcare (Zydus Cadila) on Thursday announced launch of what is so far India's cheapest remdesivir brand - Remdac at Rs 2800 per 100 mg lyophilized injection vial. The drug will be made available across India through the group’s strong distribution chain reaching out to government and private hospitals treating Covid patients. Read more

India lags peers in heading back to the workplace amid coronavirus

Workplace visits are down by a third in India, and the country lags many other emerging market peers in people going back to their workplaces, shows a Business Standard analysis of Google data. Other countries with a large number of cases including Brazil, Russia, Spain and the United States of America, all have more people heading to work. Read more