Top of the Morning : Swiggy, Zomato hike fees | Ola stake Sale | Gold slips, Stocks Jump | India & Singapore Seal Big Deals
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Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
India–Singapore seal new pacts
PM Modi and Singapore’s Lawrence Wong signed five agreements spanning fintech, green shipping, aviation, space, and advanced manufacturing. Singapore pledged deeper investments in semiconductors and logistics, while both leaders pushed for supply chain “green lanes.” Trade pacts CECA and AITIGA will be reviewed, and security cooperation stepped up. With $170 bn invested and $35 bn in trade, Singapore remains India’s biggest Southeast Asian partner.
Food apps hike festive fees
Swiggy and Zomato (Eternal) raised platform fees to ₹15 and ₹12, adding surge and distance charges. With 18% GST on deliveries, festive food will cost more—but platforms bet demand won’t drop. Together, they handle 5 million orders daily, making even ₹2–3 hikes worth crores.
Afghan quake toll climbs
Twin quakes have killed 2,200+ and injured 3,600 in eastern Afghanistan. Entire villages lie flattened, with 98% of homes destroyed in some areas. Aid is running thin—WFP says food may last just four weeks. Survivors face aftershocks, harsh weather, and little shelter.
EU leans on India
EU chief Ursula von der Leyen urged India to press Russia toward peace in Ukraine. She also pushed to close the India–EU free trade pact this year, with talks resuming Sept 8. The EU calls India’s role critical for both diplomacy and global trade.
Gold cools as stocks rally
Gold slipped 0.46% to ₹1,06,704 per 10g and silver 0.81% to ₹1,24,850, as investors moved into equities after sweeping GST reforms boosted market optimism. Analysts advise booking profits and waiting for dips before re-entering.
SoftBank trims Ola stake
SoftBank cut its Ola Electric holding to 15.68%, even as the stock soared 61% in August. Bhavish Aggarwal’s EV roadmap and China easing r
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