Business News Updates

New Delhi: With the COVID-10 pandemic ravaging several industries amid poor consumer spending, global retail sales in 2020 will decline by an average of 9.6 per cent, resulting in a loss of $2.1 trillion and it will take four years for retailers to overtake pre-pandemic levels, a new Forrester report said on Tuesday. The impact […]

New Delhi: The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices. Retail prices […]

New Delhi: Motorcycle brand Royal Enfield has resumed operations at its manufacturing facilities from Wednesday. According to the company, manufacturing activity was commenced first at the Oragadam unit, near Chennai, in a staggered manner, with minimal staff over a single shift. “Employees and shop floor staff residing in and around plant locations will be aligned […]

New Delhi: Markets regulator, the Securities and Exchange Board of India (SEBI) has advised Franklin Templeton Mutual fund to focus on returning money to investors, in the context of winding up six of their debt schemes. In a probable swipe at the fund without taking names, SEBI said despite the regulations being clear, some mutual […]

New Delhi: US-based private equity firm Vista Equity Partners will buy a 2.32 per cent stake in billionaire Mukesh Ambani’s digital unit, Jio Platforms, for Rs 11,367 crore, the company announced on Friday. “This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh […]

New Delhi: The Asian Infrastructure Investment Bank’s (The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a loan of $500 million to support India’s fight against the coronavirus pandemic by strengthening the country’s health system. Titled ‘India COVID-19 Emergency Response and Health Systems Preparedness Project’, it is funded by AIIB’s COVID-19 Crisis Recovery […]

New Delhi: After more than five-year wait, the government may finally throw open the doors of the regulated coal sector for commercial mining by the private sector comprising both Indian and overseas miners in July. Government sources said that draft rules, bid documents and agreements for commercial mining has been prepared and finalised and it […]

New Delhi: As the restrictions are being gradually eased in some zones to bring the economy back on track, the Centre has issued fresh “guidelines for restarting manufacturing industries after lockdown”, advising them not to try to achieve high production targets. In order to minimize the risk and to encourage a successful restart of industrial […]

New Delhi: Insurance regulator IRDAI has again extended the grace period for premium payment or renewal of life insurance policies, which were due in March, till May 31. “As the lockdown has been extended up to May 17, keeping in view the difficulty faced by some policyholders in renewing their policies in time, the IRDAI […]

Mumbai: The key Indian equity indices opened on a positive note on Monday, with the BSE Sensex increasing over 500 points, to trade over the psychological 32,000-mark. The surge in the domestic market was in line with the Asian indices. Market sentiments have been boosted on hopes of reopening of the global economies. At 10.09 […]

Bengaluru: Amazon Business on Monday introduced its “COVID-19 Supplies Store” to provide easy access for businesses to buy COVID related supplies on the e-commerce platform in the country. The initiative is designed to help institutional buyers like nursing homes, hospitals, healthcare NGOs, government agencies and other businesses purchase COVID-19 related items in bulk with GST […]

New Delhi: The Indian Railways, which started the booking for the 15 pairs of Special trains almost two months after suspending the passenger, mail and express train services, have earned Rs 16.15 crore from over 45,500 tickets booked on Monday, officials said. The railways have started taking booking for the 15 pair of Special air […]

New Delhi: Announcing an economic package to tide over the coronavirus crisis, Prime Minister Narendra Modi on Tuesday said the Indian economy should take a quantum jump, and not in incremental manner. Addressing the nation on Tuesday evening, Modi said that economy, infrastructure, demography and demand would be among the major features of India in […]

New Delhi: Vedanta Resources and promoter group companies have moved a proposal to delist Vedanta Ltd from the Indian stock exchanges in a bid to simplify the group structure. In a stock exchange filing, Vedanta has made a delisting offer for Vedanta Ltd (VEDL), where it holds 50.1 per cent effective stake, by acquiring the […]

New Delhi: Working backwards from the Rs 20 lakh crore economic package indicated on Tuesday economists estimate that it could be around 10.71 lakh crore. After sounding out several economists, policy mavens and financial experts, the surmise is that the working of the Rs 10 lakh crore will play out on these lines. When one […]