Thursday, April 09, 2020
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Browing Category

Business

World food prices drop as Covid-19 clamps down on demand

Rome, April 3 (IANS): World food prices declined sharply in March, as every sub-index saw prices fall as demand fell amid the ongoing coronavirus pandemic, according to a study released by the UN Food and Agriculture Organization (FAO). The overall i...

03 Apr 2020

Indian economy to lose $4.64 bn daily during lockdown — Acuite

New Delhi, April 2 (IANS): The ongoing disruption caused by the spread of Covid-19 will have a significant economic consequence with estimates suggesting that every single day of the 21-day nationwide lockdown will cost the Indian economy almost $4.6...

02 Apr 2020

India’s fiscal deficit may shoot to 6.2% of GDP in FY21 — Fitch Solutions

New Delhi, April 1 (PTI): India’s fiscal deficit in 2020-21 may shoot up to 6.2 per cent of the GDP from 3.5 per cent government estimate as a fallout of the Covid-19 economic stimulus package, Fitch Solutions said on Wednesday. With businesses dis...

01 Apr 2020

Ford to make 50,000 ventilators in next 100 days

San Francisco, April 1 (IANS): US automaker Ford has said it will make 50,000 ventilators over the next 100 days, starting April 2, at its Rawsonville plant in Michigan in the US to meet the critical demand. Ford has partnered with GE Healthcare to p...

01 Apr 2020

Centre asks states to ensure normal functioning of banks, ATMs during lockdown

New Delhi, March 31 (PTI): The Centre has asked all states and Union Territories to ensure normal functioning of banks and ATMs during the lockdown period as the INR 27,500-crore financial package announced under the Prime Minister Garib Kalyan Yojan...

31 Mar 2020

Human testing for Johnson & Johnson coronavirus vaccine this fall

Washington, March 31 (PTI/AFP): Johnson & Johnson has said it had selected a lead candidate vaccine for the new coronavirus that would move to human trials by September and could be ready for emergency use by early next year. The pharmaceutical c...

31 Mar 2020

World Bank warns China growth could screech to a halt

Washington, March 31 (PTI/AFP): The coronavirus pandemic’s economic fallout could cause China’s growth to come to a virtual standstill and drive 11 million more people in East Asia into poverty, the World Bank has warned. The pandemic is ...

31 Mar 2020

Maruti Suzuki extends warranty validity till June 30

New Delhi, March 30 (IANS): Taking leaf from the government, country’s largest automobile company Maruti Suzuki has decided to extend the validity period of warranty and service of customer vehicle falling due during the period of lockdown. It ...

30 Mar 2020

Banks branches remain open, ATMs filled up — FM

New Delhi, March 30 (IANS): Banks are ensuring that their branches remain open and ATMs (automated teller machines) functional with adequate cash amid the nationwide lockdown, according to the Union Finance Minister, here on Monday. Taking to Twitter...

30 Mar 2020

Markets extend losses as Covid-19 cases spike; banking, finance stocks lead fall

Mumbai, March 30 (PTI): The BSE Sensex crashed over 1,375 points on Monday, pressured by heavy selling in banking, finance and auto counters, as sentiment remained grim amid a steady rise in coronavirus cases. The number of Covid-19 cases in India sh...

30 Mar 2020

Centre asks auto companies to manufacture ventilators for Covid-19 patients

New Delhi, March 30 (IANS): The Centre has asked automobile companies to manufacture ventilators to tide over any shortages in treating Covid-19 patients. The Ministry of Health and Family Welfare, in a tweet on Monday, that these companies are work...

30 Mar 2020

Oil prices at 17-year lows as virus ravages world

Singapore, March 30 (PTI/AFP): Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war. US benchmark West Texas Intermediate f...

30 Mar 2020

India to be fastest growing G20 economy on Covid-19 impact as global economy shrinks

New Delhi, March 29 (IANS): India will emerge as the fastest growing economy among the G20 countries even as Economist Intelligence Unit (EIU) has slashed Indias GDP growth forecast to 2.1 per cent from 6 per cent in the light of the coronavirus pand...

29 Mar 2020

Mega merger of state-run banks comes into force from April 1, says RBI

Mumbai, March 29 (PTI): The schemes for the merger of ten state-run banks into four lenders are coming into force from April 1, according to the Reserve Bank of India. The banking regulator in separate releases announced that the branches of merging ...

29 Mar 2020

EPF up to 3 months of basic pay and dearness allowance can be withdrawn

New Delhi ,March 29 (PTI): The labour ministry has allowed over 6 crore subscribers of retirement fund body EPFO to withdraw an amount not exceeding their three months basic pay and dearness allowance from their EPF account in view of the lockdown to...

29 Mar 2020

No fuel crisis in India; enough stock of petrol, diesel, LPG available to last lockdown — IOC

New Delhi, March 29 (PTI): India, the world’s third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operationa...

29 Mar 2020

World has entered recession, says IMF

Washington, March 28 (PTI): The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund said on Friday, but projected a recovery next year. “We have reass...

28 Mar 2020

Merger process of Allahabad Bank, Indian Bank might face slight delay — Official

Kolkata, March 28 (PTI): The merger process of Indian Bank and Allahabad Bank could face a slight delay in the wake of the 21-day nationwide lockdown, an official of the Kolkata-based lender said on Saturday. Basic banking transactions, however, will...

28 Mar 2020

Trump signs USD 2 trillion coronavirus stimulus bill

Washington, March 28 (PTI): US President Donald Trump has signed into law the historic USD 2 trillion rescue package, setting in motion a desperately needed financial relief for millions of Americans and secure the country’s economy ravaged by ...

28 Mar 2020

Intensity, duration of Covid-19 to determine impact on economy — RBI

Mumbai, March 27 (PTI): The RBI on Friday said the impact of coronavirus outbreak on the economy will depend on the intensity, spread and duration of the deadly virus even as the central bank refrained from projecting any numbers for growth and infla...

27 Mar 2020

Slashed interest rate needs quick transmission — FM

New Delhi, March 27 (PTI): Finance Minister Nirmala Sitharaman on Friday asked banks for “quick transmission” of slashed interest rate as the RBI cut the key lending rate sharply by 75 basis points to boost liquidity in financial system t...

27 Mar 2020

Intensity, duration of Covid-19 to determine impact on economy — RBI

Mumbai, March 27 (PTI): The RBI on Friday said the impact of coronavirus outbreak on the economy will depend on the intensity, spread and duration of the deadly virus even as the central bank refrained from projecting any numbers for growth and infla...

27 Mar 2020

Covid-19: Business leaders need to reimagine the new normal

New Delhi, March 27 (IANS): The Covid-19 hit sectors like commercial aerospace, air and travel, insurance carriers, oil and gas and automotive may not see restart until 2021 and business leaders need to create a multi-pronged strategy to overcome it...

27 Mar 2020

Airbnb, its hosts to provide free housing to healthcare workers

San Francisco, March 27 (IANS): Amid the global coronavirus pandemic, global tech hospitality platform Airbnb has announced it will work with its network of hosts to help provide temporary housing to 1,00,000 Covid-19 responders and healthcare profes...

27 Mar 2020

World Bank finalising $160 bn. Covid-19 relief program

Washington, March 27 (IANS): The World Bank Group President David Malpass said hat the multilateral lender was finalizing a package that could provide as much as $160 billion in financial support for the worst-hit countries by the coronavirus pandemi...

27 Mar 2020