Oil prices fall as doubts grow over output cut deal

Oil prices fell sharply on Monday (April 6) after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of...

COVID impact: Indian economy loses $4.64 billion on each lockdown day

On the whole, a likely contraction in Q1, even if followed by a modest growth in Q2 will clearly have a severe impact on India’s economic trajectory that has already been under the effect of a prolonged slowdown.

FPIs pull out record ₹1.1 lakh crore in March amidst COVID-19 mayhem

New Delhi: Foreign portfolio investo...

COVID-19: India’s tourism sector may lose ₹5 lakh cr, 5 cr jobs to be cut

New Delhi: The coronavirus outbreak is impacting every sector of the country, including India’s tourism industry which can incur an overall loss of ₹5 lakh crore and affect jobs of about 4 to 5 crore people.

Markets retreat as coronavirus woes mount; bank stocks hammered

As the number of COVID-19 cases crossed the one-million mark worldwide, fuelling uncertainty over the economic impact of the pandemic, equity indices spiralled lower for yet another session on Friday (April 3). Unabated foreign fund outflows and a depreciating rupee, which skidded below the 76-mark against the dollar, further kept investors on t...

PM Modi’s address fails to offer markets relief ahead of long weekend

Mumbai: Amid the 21-day countrywide lockdown, traders in India have another challenge to face in the form of a long weekend as Prime Minister Narendra Modi’s address to the nation on Friday (April 3) morning could not offer specific measures being taken to curb the spread of the coronavirus.

ADB expects India’s economic growth to slow down to 4% in FY21 on global pandem...

New Delhi: India's economic growth is likely to slow down to 4 per cent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for financial year 2020-21 on Friday (April 3). Growth in India will remain subdued after the country suffered a sharp slowdown last year, from 6.1 per cent in fiscal 2019 to 5 pe...

Boeing announces voluntary layoff plan as aviation industry suffers

New York: Boeing unveiled a voluntary worker layoff programme on Thursday (April 2), telling employees that it hoped to avoid "other workforce actions" as the aviation industry reels from the coronavirus crisis.

Centre gives time till Sept 30 to re-label new retail price on unsold stock

In a relief to manufacturers, packers and importers, the Central government has allowed them tore-label new retail prices on their unsold pre-packaged products by September 30, 2020. In the wake of revision in Goods and Services Tax (GST), the Union consumer affairs ministry issued an order. It allows stamping, putting stickers and online printi...


COVID-19 is changing consumer behaviour and how

The coronavirus pandemic and subsequent lockdown is changing consumption patterns of people and may have a long-lasting impact on certain industries.

‘Time travel’ to a post-COVID-19 society may hold many surprises

The aim of this piece is not to scare you but to contemplate the possible future scenarios of COVID-19. I am sure, scientists will find a cure for COVID-19 and we will back to our regular lives – get the jobs and housemaids back and give a break to our beloved family members by going to the office.

Withdrawal hits tipplers in Telangana as lockdown keeps booze out

Hyderabad: Tipplers in Telangana are on the edge. With all wine shops and toddy outlets being closed since March 22, following a shutdown announced by the state government, the habitual boozers are going through severe withdrawal symptoms.

Tele counselling center in Chennai checks on home quarantined

A COVID-19 Tele Counselling Center set up by the Greater Chennai Corporation in association with social workers from Loyola College has been offering support to those home quarantined since the lockdown.



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Acuite Ratings sees Q1 growth contracting 5-6% on coronavirus woes

Mumbai: Domestic ratings agency Acuite Ratings has forecast a massive 5-6 per cent contraction in growth in the first quarter of the new fiscal due to the coronavirus-driven lockdown. The agency estimates the daily loss to the economy from the lockdown at around USD 4.6 billion and fears that if at all the countrywide shutdown is lifted on April 14, the...

Global economy could shrink by almost 1% in 2020 due to COVID-19: UN

United Nations: The global economy could shrink by up to one per cent in 2020 due to the COVID-19 pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

Govt may further extend deadline to bid for Air India due to COVID

In what would be the second extension in the deadline to submit bids for Air India, the government is likely to extend the April 30 deadline as the COVID-19 fallout has disrupted economic activities globally, an official has said.

COVID-19: Wipro, Azim Premji Foundation commit ₹1,125 crore

New Delhi: Adding to the many monetary contributions being made by Indian business tycoons towards the country's fight against coronavirus, Wipro Ltd, Wipro Enterprises Ltd, and Azim Premji Foundation have together committed ₹1,125 crore.

PSU banks mega merger comes into effect from April 1

The central government’s plan to combine 10 state-run banks into four came into effect from Wednesday (April 1) on the seventh day of countrywide lockdown. The announcement for the same was made in August 2019. The consolidation resulted in the merger of the Oriental Bank of Commerce and the United Bank into Punjab National Bank while Syndicate ...

COVID-19: E-commerce cos resume ops, need a week to clear backlog

New Delhi: E-commerce companies such as Amazon and Grofers have resumed their operations in various cities. However, according to industry executives, it will take at least a week or more to clear the pending orders.

Housing companies rely on technology to hook customers after lockdown hits sales

New Delhi: With housing sales almost coming to a standstill due to the 21-day lockdown imposed to curb the spread of COVID-19, real estate developers and brokers are offering freebies and taking the help of technology, like digital walk-through of projects, to reach out to prospective customers for online bookings of properties.

India, China may not be affected by COVID-19 recession: UN report

The report, however, did not give a detailed explanation as to why and how India and China will be the exceptions as the world faces a recession and loss in global income that will impact developing countries.

COVID-19: Govt extends validity of lower withholding taxes till June 30

New Delhi: The Finance Ministry on Tuesday (March 31) extended the validity of all lower withholding tax orders by three months till June 30 in view of hardships caused due to COVID-19 pandemic.

India’s demand for 6.2 million coveralls to be met by eight suppliers

Chennai: At least 6.2 million surgical coveralls for healthcare workers — better known as Personal Protective Equipment — which are needed in India to curb the spread of COVID-19, would be manufactured by only eight suppliers across the country as of now.

Time for a reset: Airlines in India face their moment of truth

The domestic airline industry never had a good year for a long time and now faces the added pressure from the outbreak of the coronavirus, which threatens its existence.

Rupee rallies 81 paise to 74.35 against USD after RBI announced measures to support e...

Mumbai: The Indian rupee appreciated by 81 paise to 74.35 against the US dollar in intra-day trade on Friday (March 27), after the Reserve Bank announced various measures including a 75 basis point cut in repo rate to support the economy amid the coronavirus-induced crisis. The Reserve Bank of India (RBI) on Friday cut benchmark interest rate by 75 basi...

India Inc has stepped up, but Indian billionaires must pledge large funds in COVID fi...

The world is grappling with the unprecedented COVID-19 pandemic and everyone is expected to pitch in with whatever help possible. Some of the world’s billionaires are leading the fight against this pandemic by creating large funds to help the needy and also getting their businesses to come forward with measures.

Sensex trades 1,000 points higher after FM announces ₹1.70-lakh-cr stimulus

Mumbai: Equity benchmark Sensex was trading over 1,000 points higher in afternoon session on Thursday after Finance Minister Nirmala Sitharaman announced a stimulus package worth ₹1.70 lakh crore to cushion the impact of the lockdown in wake of COVID-19 pandemic.

Flipkart, Amazon India’s Pantry suspend operations temporarily due to COVID-19

New Delhi: Walmart-owned Flipkart and Amazon India's Pantry have been suspended temporarily as India entered a 21-day lockdown to contain the spread of the coronavirus pandemic.

Data alert: Be judicious as critical services need bandwidth, says COAI

New Delhi: With the government imposing 21-day lockdown to tackle coronavirus spread, industry body COAI on Wednesday urged mobile consumers to use data networks responsibly, so that critical services can run smoothly on communications infrastructure.

COVID-19: Air India to incur ₹30-35 cr loss per day following suspension of operation...

Mumbai: Flag carrier Air India is expected to incur losses to the tune of ₹30-35 crore per day following the suspension of operations in the wake of coronavirus pandemic, according to a source. With stringent border controls across the countries to restrict movement of people, many countries have barred international flights in their territory amid COVI...

Entrepreneurs trying hard to keep India running amid lockdown

Entrepreneurs in India are trying their best to continue providing essential services and at the same time support their staff amid the nationwide lockdown due to the coronavirus pandemic that has claimed 10 lives in the country so far.

Asia markets surge as US agrees blockbuster stimulus package

Hong Kong: Asian equities soared again on Wednesday after US lawmakers finally agreed a mammoth stimulus package to support the world's top economy against the impact of the coronavirus pandemic. While the deadly disease continues to spread, traders have a rare semblance of optimism after weeks of carnage across global markets, with eyes fixed on Washingto...

Coronavirus: GoAir says all employees will have pay cut in March

New Delhi: As the coronavirus pandemic has drastically impacted revenues of the aviation sector, GoAir CEO Vinay Dube stated on Wednesday (March 25) that all employees will be taking a pay cut in March. During the last few weeks, GoAir has already taken some cost cutting measures — it has laid off its expat pilots, asked its employees to go on leave withou...