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Sunday, May 31, 2020
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Forex reserves hit all-time high on FDI, FPI inflows, fall in import expenditure

May 31, 2020 2:06:27 am

The rise in foreign exchange reserves have resulted into strengthening in the value of the rupee against the US dollar.

Delhi-Moscow Air India flight returns midway after pilot found positive

May 31, 2020 1:58:59 am

According to airline sources, the pre-flight check personnel failed to scrutinise the said pilot’s report and deemed him fit to fly.

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Hit by coronavirus, online aggregators create new revenue streams

May 31, 2020 8:17:44 am

The COVID-19 pandemic and its after effects have hit online aggregators hard, particularly those depending on hospitality segments such as hotels, restaurants and air travel.

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Lockdown bites credit growth, outstandings to housing and priority sectors decline in April

May 31, 2020 1:30:33 am

While the overall non-food credit growth contracted by 1.2 per cent, or Rs 1.10 lakh crore to Rs 91 lakh crore, loan outstanding in the personal loan segment fell by 2.50 per cent to Rs 24.90 lakh crore, a decline of around Rs 63,000 crore.

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DGCA says locusts are a threat to aircraft, issues guidelines for safe flight

May 30, 2020 10:24:15 am

According to the circular, flying through a swarm can cause problems for aircraft at the time of landing and takeoff with all the air inlets of an aircraft, including engines, air conditioning packs, etc, prone to being damaged by the insects.

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GST hike on non-essential items unlikely despite falling revenues

May 30, 2020 1:52:14 am

Sources indicated that as of now there is no proposal to reduce GST rate on essential items, even as it is ultimately GST Council which will take any decision on changing the tax rates and not just the central government.

Fiscal deficit widens to 4.6% of GDP in FY20

May 30, 2020 1:58:33 am

This was the highest level of deficit for the Centre since FY13.

Modi govt second term, first year: Already struggling, Covid adds to govt’s challenges

May 30, 2020 8:24:56 am

The downward spiral has been accentuated by the lockdown that was enforced since late March to tackle the spread of Covid-19 pandemic, with most economists projecting that the Indian economy will record a contraction in GDP this year, while any recovery is expected to be long drawn process.

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GST Council to meet next month; FinMin not for raising rates on non-essential items

May 29, 2020 8:59:14 pm

If goods and services tax (GST) rates are increased on non-essential items, sources said it will further bring down their demand and impede the overall economic recovery.

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SC issues notice to Tata Sons on cross-appeal of Mistry group firm against NCLAT order

May 29, 2020 8:44:18 pm

The top court had on January 10 granted relief to Tata group by staying the National Company Law Appellate Tribunal (NCLAT) order of December 18 last year, by which Mistry was restored as the executive chairman of the salt-to-software conglomerate.

GDP growth slows to 3.1% in Q4; fiscal deficit widens to 4.59% of GDP in 2019-20

May 29, 2020 8:41:51 pm

Gross Domestic Product (GDP) 4th Quarter Data: The growth in GDP during 2019-20 is estimated at 4.2 per cent, slowing to an 11-year low, as compared to 6.1 per cent in 2018-19.

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Gold price flat ahead of Trump’s Hong Kong response

May 29, 2020 3:20:43 pm

Spot gold was unchanged at $1,718.60 per ounce by 0616 GMT. US gold futures rose 0.2% to $1,716.50.

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Oil falls but set to post biggest monthly rise in years on output cuts

May 29, 2020 2:38:12 pm

Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and US West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7%.

Who is Wipro’s new MD and CEO?

May 29, 2020 1:33:59 pm

Wipro’s new MD and CEO Thierry Delaporte: Wipro named Thierry Delaporte as its new chief executive officer (CEO) and managing director (MD). He will be replacing Abidali Neemuchwala who relinquishes his position on June 1.

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Scrapping of 7.75% savings bonds to hit savers, pensioners

May 29, 2020 1:16:11 pm

According to fund managers and analysts, the 7.75 per cent Savings (Taxable) Bonds, 2018 was the favourite investment option for savers and pensioners who considered these bonds as safe and generating adequate returns.

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Rupee rises 11 paise to 75.65 against US dollar in early trade

May 29, 2020 11:14:08 am

The rupee opened at 75.71 at the interbank forex market and then gained further to 75.65, up 11 paise over its last close.

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Stocks slip as markets await Trump’s HK response

May 29, 2020 10:50:45 am

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%. The Nikkei retreated from a three-month high and, though moves were slight, riskier currencies were under pressure against the US dollar.

China, India soak up oil from floating storage as demand recovers

China, India soak up oil from floating storage as demand recovers

May 29, 2020 10:26:01 am

A total of 3.4 million tonnes of crude oil was discharged from floating storage into Asian markets in the past seven days, with China the top destination at 1.8 million tonnes and India second at 842,679 tonnes.

Renault poised to announce 15,000 layoffs worldwide

Renault poised to announce 15,000 layoffs worldwide

May 29, 2020 10:05:51 am

The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France.

Sensex rises 224 points, Nifty ends above 9,500-mark lead by pharma, FMCG stocks

May 29, 2020 4:03:36 pm

The S&P BSE Sensex rose 223.51 points (0.69 per cent) to settle at 32,424.10, while the Nifty 50 ended at 9,580.30, up 90.20 points (0.95 per cent).

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