Business
Recovery is Underway After Worst Global Recession Since World War II: IMF MD
IMF A day after the International Monetary Fund forecast a global growth of six per cent for this year, IMF Managing Director Christine Georgieva has said that after the worst global recession since the Second World War, the recovery is underway. The outlook, she asserted, is brighter because millions...
Top Stocks for Investors on April 8
The stock market on Wednesday, April 7, gave a positive ending after the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 percent in its monetary policy announcement. The indices on Thursday, April 8, are expected to give a higher opening as the SGX Nifty was...
Petrol, Diesel Prices Remain Unchanged for 9th Day; Check Today’s Rates in Metro Cities
A worker holds a nozzle to pump petrol into a vehicle at a fuel station. (File photo/Reuters) Petrol price in the national capital stands at Rs 90.56 per litre, Rs 90.77 in Kolkata, Rs 92.58 in Chennai, while its highest in Mumbai among metros at Rs 96.98. Petrol and...
Rate Rises by Rs 10 Per Gram, Silver Too Gains Marginally
The gold rates on Thursday, April 8, increased by Rs 10 as the price of one gram of 22-carat gold stood at Rs 4,430 from Rs 4,420 on the previous day. The price of 10 grams of 22-carat-gold jumped by Rs 100 to stand at Rs 44,300 from the...
Sensex Surges Over 300 Points in Early Trade; Nifty Tops 14,900
Equity benchmark Sensex surged over 300 points in early trade on Thursday, tracking gains in index heavyweights HDFC twins, ICICI Bank and Infosys amid a positive trend in global markets. The 30-share BSE index was trading 343.32 points or 0.69 per cent higher at 50,005.08, and the broader NSE...
Sensex Ends 84 Pts Higher After Choppy Trade; IT Stocks Rally
Equity benchmark Sensex ended 84 points higher after a volatile session on Thursday as concerns over rising coronavirus infections and resultant restrictions across the country kept investors on the edge. The 30-share BSE index settled 84.45 points or 0.17 per cent higher at 49,746.21. The broader NSE Nifty advanced...
Alibaba Fined $2.8 Billion for Violating Anti-Monopoly Rules in China
Chinese regulators have fined giant e-commerce giant Alibaba USD 2.8 billion on charges of violating anti-monopoly rules. The ruling Communist Party is tightening control over China’s biggest e-commerce and other internet companies and has warned them not to use their industry dominance to stifle competition. The State Administration for...
USTR Discusses TRIPS Waiver Proposal for Covid-19 Vaccines with GAVI’s CEO
US Trade Representative Katherine Tai, in a virtual meeting with GAVI’s CEO Dr. Seth Berkley, discussed, among other things, the proposed waiver of certain provisions of the WTO’s agreement on intellectual property rules for the manufacture of coronavirus vaccines. In the virtual meeting with Berkley on Friday, Tai discussed...
Abu Dhabi Crown Prince Honours Indian Business Tycoon Yusuffali with Top Civilian Award
Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed Bin Zayed Al Nahyan has honoured Indian-origin businessman Yusuffali MA and 11 other individuals with Abu Dhabi’s top civilian award for their noble and charitable contributions to the community. Yusuffali, 65, the Chairman...
Mumbai Court Rejects Bail Pleas of Viva Group Managing Director, Chartered Accountant
A special PMLA court in Mumbai has denied bail to Mehul Thakur, managing director of Viva group, and chartered accountant Madan Chaturvedi in connection with the Rs 4300-crore PMC Bank fraud case. Their plea for default bail was rejected by special judge Abhijeet Nandgoankar on April 8, and a...
US Lawmakers Welcome India’s Move to Increase FDI in Insurance Sector to 74 Percent
Two influential US lawmakers have applauded the Indian government’s move to increase foreign direct investment in the insurance sector from the existing 49 per cent to 74 per cent, saying it will further deepen bilateral trade and investment. India’s Parliament last month passed the Insurance Amendment Bill 2021 to...
Govt May Hike FDI Limit in Pension Sector to 74%, Bill Likely in Monsoon Session
The government may hike foreign direct investment (FDI) limit in the pension sector to 74 per cent and a Bill in this regard is expected to come in the next Parliament session, according to sources. Last month, Parliament approved a Bill to increase FDI limit in the insurance sector...
SBI, Private Banks Rush in Race for Citi’s Card Business After Bank’s Decision to Quit Indian Market
Citi Bank’s decision to quit the Indian market has thrown up an opportunity for domestic private banks that are looking to scale up their credit card business. Amid this, the subsidiary of State Bank of India- SBI cards witnessed its share price jump 7.5% by the close of trade...
Record Penalty for Alibaba Marks Tumultuous Stretch for Founder Jack Ma
Once seemingly untouchable, Alibaba founder Jack Ma has endured a tumultuous run that saw his Chinese e-commerce giant hit with a record 18 billion yuan ($2.75 billion) antitrust fine on Saturday, resolving one key uncertainty even as others persist for himself and his business empire. The reversal of fortune...
SBI Collects Rs 300 Crore from Zero Balance Accounts for Certain Services in 5 Years: Study
Several banks, including State Bank of India (SBI), have been imposing excessive charges on certain services provided to poor persons having zero-balance or Basic Savings Bank Deposit Accounts (BSBDA), a study by the IIT-Bombay has revealed. The study observed that the SBI’s decision to levy a charge of Rs...
FATF May Evaluate India’s Mechanism to Deal with Financial Crimes this Year
The FATF, the global body against money laundering and terror financing, is likely to carry out an evaluation of India’s established mechanism to deal with such financial crimes later this year. The mutual evaluation of country specific anti-money laundering and terror-financing mechanism by the Financial Action Task Force (FATF)...
Infosys to Consider Share Buyback This Week, Markets Respond in Green
IT services major Infosys on Sunday said its board will consider a buyback proposal at its meeting on Wednesday. “The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, 2021, in...
RTGS Facility To Be Unavailable For 14 Hours On April 18; How It Will Affect You
The Reserve Bank of India (RBI) on Monday announced that the money transfer facility, Real Time Gross Settlement System (RTGS), will be unavailable for 14 hours from 00:00 to 14:00 hours on Sunday, April 18, in lieu of a technical upgrade to enhance the resilience of the system. The...
