Economy News

EPFO witnesses huge withdrawal in lockdown months, highlights grim economic picture

In line with the latest trend, EPFO estimates that nearly 10 million would withdraw from their saving in coming days.

Jul 28, 2020

India, US closing in on limited trade deal: Piyush Goyal

India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to clinch a new trade accord, three sources told Reuters.

Jul 22, 2020

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Sensex, Nifty gain as HDFC Bank adds to earnings momentum; financials shine

Indian shares climbed on Monday as HDFC Bank added to last week's strong earnings releases from IT companies, countering the impact of the surge in domestic coronavirus cases past one million.

Jul 20, 2020

EC Ashok Lavasa appointed as Vice President of Asian Development Bank

Election Commissioner Ashok Lavasa will be looking after the Private Sector Operations and Public-Private Partnerships.

Jul 15, 2020

Covid-19 pandemic knocks Singapore into recession with record 41.2% GDP plunge

Gross domestic product (GDP) dived by a record 41.2 per cent in the three months ended March, on a quarter-on-quarter annualised basis, the Ministry of Trade and Industry said.

Jul 14, 2020

Annual IMF, World Bank meetings to be held virtually

The 2020 annual meetings of the International Monetary Fund (IMF) and the World Bank Group will likely be held in a primarily virtual format due to the ongoing COVID-19 pandemic, the leaders of the two institutions announced.

Jul 10, 2020

Punjab National Bank reports Rs 3,688 crore DHFL loans as fraud

In a regulatory filing, the State-run Punjab National Bank said that it has already made provisions amounting to Rs 1,246.58 crore.

Jul 10, 2020

Yes Bank case: ED attaches Rs 2,203 cr assets of Rana Kapoor, others

The ED had earlier filed a charge-sheet in the case against Kapoor, his daughter Roshni Kapoor - promoter of DoIt Urban Ventures (India), DHFL's Kapil R. Wadhawan, Dheeraj R. Wadhawan, and other entities, like Belief Realtors and RKW Developers.

Jul 9, 2020

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Sensex, Nifty rise as focus shifts to corporate earnings

The NSE Nifty 50 index rose 0.64% to 10,774.50 by 0511 GMT, while the benchmark S&P BSE Sensex climbed 0.67% to 36,570.32.

Jul 9, 2020

ICICI Bank announces 8% pay hike for 80,000 employees during coronavirus pandemic

As many as 80,000 employees form more than 80 per cent of its overall workforce and the decision has been taken in recognition of the services rendered during the novel coronavirus pandemic, the sources told.

Jul 8, 2020

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Nifty, Sensex end higher for fifth day, lenders soar

Indian shares closed higher for a fifth straight session on Tuesday, as gains in IT and beaten down financial companies helped Mumbai's main indexes outperform other stock markets after a week-long rally.

Jul 7, 2020

Asia shares climb as China blue chips hit five-year peak

Asian shares scaled four-month peaks on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-openings across the United States.

Jul 6, 2020

'Small businesses may not survive prolonged crisis': Khatabook CEO predicts

During the lockdown, retail businesses have been worst hit across all regions and categories. The two worst-hit sectors automobiles and textiles have seen a noted increase in transactions by 73% and 76% respectively, post relaxation in lockdown. Culling more insights from Ravish Naresh, CEO of Khatabook here...

Jul 3, 2020

India's factory activity contracts for third straight month in June

The virus has infected over half a million people in the world's second-most populous nation, stalling economic activity, but Wednesday's survey suggested the worst may be over for the economy, at least for now.

Jul 2, 2020

NDMC extends property tax deposit date till July 31

MCD takes property tax on buildings and vacant land. There are three ways of computing taxes -- annual rental value, capital value and unit area system.

Jun 30, 2020

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