Business

Saudi Arabia, the Arab world’s largest economy, announced a surprise tripling of value-added-taxes and trimmed allowances for government workers.

Following a pandemic-driven plunge, non-oil private sector activity improved in Saudi, Arabia, Egypt and the United Arab Emirates, according to Purchasing Managers’ Index surveys compiled by IHS Markit.

The IHS Markit India Services Business Activity Index stood at 12.6 in May.

The rupee opened on a strong note at 75.04 at the interbank forex market, up 32 paise over its last close.

The S&P BSE Sensex settled at 34,109.54, up 284.01 points (0.84 per cent), while the broader Nifty 50 reclaimed the 10,000-mark, ending at 10,061.55, up 82.45 points (0.83 per cent).

The Prime Minister said the world’s expectations from India has increased, and the corporate sector must take advantage of the trust that India has gained across the world during the coronavirus crisis.

The court has sought responses from the central government, the Telecom Regulatory Authority of India, and telcos, in the matter.

With the global markets also making strong gains on the back of easing of lockdown curbs, the Sensex rose by another 522 points to 33,825.53 and the NSE Nifty Index gained 153 points at 9,979.10

In its petition before the SC, the MRAI has also sought an extension of waiver of penal charges for the entire lockdown period.

Moody’s said the economic disruption caused by the coronavirus pandemic and the downgrade of the sovereign rating are the key drivers for Tuesday’s rating actions.

Bhargava also said that while sales of Maruti Suzuki cars would be lower this year than in the previous fiscal, it was impossible to realistically forecast the performance of Maruti Suzuki or the auto industry

The company posted a net loss of Rs 870.8 crore for the March-quarter, compared with a Rs 595.8-crore profit after tax same period last year.

Sectors already identified by the Department of Promotion for Industry and Internal Trade (DPIIT) in consultation with other ministries include capital goods and machinery, mobile and electronics, gems and jewellery, pharmaceuticals, textiles and garments.

'Voice of Pax', a survey conducted by BIAL to understand passenger perception and expectation towards air travel amid the coronavirus pandemic, revealed that 90 per cent of passengers considered air travel much safer compared to

Indian carriers operated a total of 4,062 flights till June 1 -- 428 on May 25, 445 on May 26, 460 on May 27, 494 on May 28, 513 on May 29, 529 on May

Moody's said the economic disruption caused by the coronavirus pandemic and the downgrade of the sovereign rating are the key drivers for Tuesday's rating actions.

Coronavirus Health Insurance Policy and Plans: There are a plethora of key investment lessons that can be learned and if we decide to take them on board, we could come out of the lockdown with

In May, with zone-based relaxations, sourcing of new accounts has gradually increased, and new cards run rate has reached approximately 2,500 cards per day, SBI Card said.

Total domestic sales declined by 83 per cent to 40,074 units last month as compared to 2,35,824 units in May 2019, Bajaj Auto said.

Prime Minister Narendra Modi gave a speech at Confederation of Indian Industry's (CII) Annual Session 2020- “Getting Growth Back”.

The rupee opened weak at 75.57 at the interbank forex market and then fell further to 75.60, down 6 paise over its last close.

After hitting a high of 33,866.63 during the day, the 30-share index settled 522.01 points or 1.57 per cent higher at 33,825.53.

Moody's expects India's real GDP growth rate to contract by 4 per cent in 2020-21 due to the shock from the coronavirus pandemic and related lockdown measures.

According to numbers collated by insurance companies, only 5,600 claims have come to insurers for settlement involving a cumulative amount of Rs 70 crore — this works out to an incurred expenditure of Rs 1.25

While 35 per cent of Micro, Small and Medium Enterprises (MSMEs) and 37 per cent of the self-employed respondents said their enterprises were beyond recovery, 32 per cent of MSMEs said recovery would take six months.