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Friday, April 03, 2020

‘In warlike economy, money needs to be directed to fight, deal with pandemic consequences’

April 1, 2020 8:53:32 pm

In an interview to P Vaidyanathan Iyer, Director at the National Institute of Public Finance and Policy Rathin Roy talks about the priorities, pain points, and fiscal needs of what he calls a "warlike economy".

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All you need to know about HDFC Bank’s EMI moratorium

April 2, 2020 9:49:21 am

A look at HDFC Bank's note on term loan moratorium and the details of the moratorium provided to its customers according to details furnished on its website.

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All the tax changes that take effect with the start of new fiscal year 2020-21

April 1, 2020 3:25:53 pm

From new tax regimes to abolition of dividend distribution tax (DDT) and merger of public sector banks, we take a look at all the changes which come into effect from today with the start of the new fiscal year.

Gold rises 1% on flight to safety driven by pandemic fears

April 1, 2020 12:21:30 pm

Gold is considered an attractive investment during times of political or economic uncertainty. It is highly sensitive to interest rates, as lower rates reduce the opportunity cost of holding the non-yielding bullion.

Asia’s factory activity plunges as coronavirus shock deepens

April 1, 2020 12:01:50 pm

While factories in China gradually restarted operations after lengthy shutdowns and a fall in virus cases allowed the country to start relaxing travel restrictions, activity in South Korea shrank at its fastest pace in 11 years as many of its trading partners imposed dramatic measures to curb the virus' spread.

Maruti Suzuki reports 47% drop in March sales

April 1, 2020 11:51:10 am

Sales of mini cars comprising Alto and WagonR stood at 15,988 units as compared to 16,826 units in the same month last year, down 5 per cent.

Coronavirus outbreak: Crude oil prices rises as OPEC, allies work on big cut as demand slumps

Oil prices fall as US inventory build-up heightens oversupply concerns

April 1, 2020 11:33:46 am

As of 0345 GMT, Brent crude was down by 47 cents, or 1.8%, at $25.88 a barrel. US West Texas Intermediate crude was up 12 cents, or 0.6%, at $20.6 a barrel, an uptick analysts said was driven by position building at the start of a the new quarter.

India’s budget under strain on Day One of new fiscal year

India’s budget under strain on Day One of new fiscal year

April 1, 2020 2:16:55 pm

As India now conducts the world’s biggest lockdown, budget pressures are set to worsen.

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Asian shares hold on to gains but virus keeps markets on edge

April 1, 2020 11:11:38 am

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.23%. Australian shares jumped by 2.87%, reversing a 2% decline on Tuesday, as a slowdown in new coronavirus cases and rising iron ore prices lifted the market.

SpiceJet says some employees will get salaries in two parts

April 1, 2020 10:20:39 am

According to a senior official in SpiceJet, there were some employees who had got just a few thousand rupees in their bank accounts from the company as salary till now.

Shutdowns weigh heavy on sentiment, Sensex tanks 13% in biggest daily crash

Indices kickoff FY 2020-21 with a loss; Sensex drops 1,203 points, Nifty ends at 8,254

April 1, 2020 4:13:48 pm

The S&P BSE Sensex declined 1,203.18 points (4.08 per cent) to end at 28,265.31. the broader Nifty 50 ended at 8,253.80, down 343.95 points (4.00 per cent). Both the indices had opened around 1 per cent lower each and traded lower throughout the day.

Stocks fall, capping Wall Street's worst quarter since 2008

Stocks fall, capping Wall Street’s worst quarter since 2008

April 1, 2020 7:03:52 am

The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year.

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PPF, senior citizens savings see deep cut in interest rates

April 1, 2020 7:28:52 am

The interest rate for Senior Citizens Savings Scheme has been slashed to 7.4 per cent from 8.6 per cent, while that for National Savings Certificate has been cut to 6.8 per cent from 7.9 per cent.

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Ordinance to give full deduction for donation to PM-CARES promulgated

April 1, 2020 3:24:44 am

The Ordinance, which got presidential assent Tuesday, also amended the provisions of the Income-tax Act to provide the same tax treatment to the PM-CARES Fund as available to the Prime Minister’s National Relief Fund.

Shutdowns weigh heavy on sentiment, Sensex tanks 13% in biggest daily crash

Sensex gains 1,028 pts, ends FY20 31.23% lower

April 1, 2020 3:22:45 am

The Sensex rose 1,028.17 points, or 3.62 per cent, to 29,468.49, while the NSE Nifty gained 3.82 per cent, or 317 points, at 8,597.75.

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Naushad Forbes interview: ‘Income support scheme runs risk of leaving some needy out’

April 1, 2020 3:15:40 am

My sense is that the lockdown was the right thing to do and it does seem like that was the only way of preventing and delay the rise in number of cases and, in the meantime, prepare the facilities, medical equipments and infrastructure to fight it out, says Naushad Forbes.

A week into lockdown: Disruption in supply of essential medicines, dearth of staff at drug stores

April 1, 2020 3:03:19 am

For instance, hydroxychloroquine and chloroquine medicines like Ipca Laboratories’ HCQS and Lariago are still stocked out in several pharmacies in Delhi.

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Govt hikes WMA limit with RBI by 60%; frontloads borrowing

April 1, 2020 3:00:25 am

Out of gross borrowings of Rs 7.8 lakh crore in FY21, the Centre has proposed to borrow Rs 4.88 lakh crore, or 62.56 per cent, in the first half of the fiscal, as against 62.25 per cent done in the previous fiscal.

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FinMin extends validity of lower withholding tax orders by three months

April 1, 2020 2:32:05 am

The move is expected to ensure continuity of payments amid a cash crunch being faced by companies.

RIL once again overtakes TCS to become the most valued firm

April 1, 2020 10:40:46 am

At close of trade, the market capitalisation (m-cap) of RIL was Rs 7,05,211.81 crore, which was Rs 21,133.32 crore more than that of Tata Consultancy Services' Rs 6,84,078.49 crore valuation on the BSE.