Billionaire Gautam Adani’s roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money.
The Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to US investors and escalating tensions with Beijing weeks before President-elect Joe Biden takes office.
Union minister Nitin Gadkari on Monday expressed confidence that India will get a Covid-19 vaccine “as early as possible” and overcome the pandemic to win the economic war.
Gold fell on Monday en route to its worst month in four years, as optimism over a coronavirus vaccine-led economic revival prompted investors to buy into traditional risk assets. Spot gold declined about 1% to $1,771.22 per ounce by 0452 GMT, shedding 5.7% so far this month – its biggest since November 2016.
Forecasters are revising upwards their projection for the current fiscal’s GDP growth after better-than-expected numbers for the second quarter. Most economists expect India’s GDP to shrink between 6% and 8% in FY21. Until last month, international agencies like the IMF were expecting the economy to shrink by 10%. The RBI is widely expected to continue … Continue reading Forecasters raise GDP projections after Q2 rebound
India Inc has quietly progressed on the gender diversity front in spite of the pandemic. Engineering firm ABB, Hindustan Zinc (HZL), Sun Life Asia Service Center (ASC) and leading direct selling FMCG major Amway have improved upon their gender diversity numbers significantly this year through proactive hiring of women candidates.
With Jan Dhan accounts and the government’s direct benefit transfers (DBT), ATM usage has gone up in rural areas. This is most clearly seen by the trend of increased usage of ‘white-label operators’ ATMs, which are used only in rural and remote parts of the country. From just 2% of total ATM transactions in India … Continue reading Jan Dhan, cash transfers boost ATMs in Bharat
Two pilots’ unions on Monday wrote to Union minister of civil aviation Hardeep Singh Puri seeking an urgent meeting with him to discuss the “indefinite and unilateral” salary deductions faced by the pilots of Air India.
5G connections across the globe are estimated to be 3.5 billion and India will account for 350 million subscriptions by 2026. Globally, more than 1 billion people, 15 per cent of the world’s population, are expected to live in an area that has 5G coverage rolled out. India may get its first 5G connection in … Continue reading ‘5G connection to reach 350m in India by 2026’
Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in a deal worth $44 billion that will be 2020’s biggest merger, creating a heavyweight in the increasingly competitive market in financial information.
Moody’s Investors Service on Monday said the bank capital will moderately fall in emerging Asia over the next two years, with India seeing larger capital decline without further infusion.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank (LVB), which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary … Continue reading LVB customers can access all services: DBS
After a COVID-19 pandemic-led contraction in consumer spending in 2020, household spending will return to growth in 2021, expanding by as much as 6.6 per cent, Fitch Solutions said on Monday.
S&P Global Ratings on Monday retained its forecast of 9 per cent contraction in the Indian economy for the current fiscal, saying even though there are now upside risks to growth but it will wait for more signs that Covid infections have stabilised or fallen.
Foreign direct inflows went up almost 15% during the first half the current financial year. The period also saw Mauritius slip to the fourth spot as the preferred source to route funds into India with the US and tax haven Cayman Islands overtaking it.
The six-member Monetary Policy Committee (MPC) headed by RBI Governor is scheduled to meet for two days starting December 2. The resolution of the sixth bi-monthly MPC meeting would be announced on December 4.
Air India is currently operating non-stop flights to London from Delhi (seven flights a week), Mumbai (four flights a week), Kochi (three flights a week), Ahmedabad (two flights a week), Bengaluru (two flights a week), Goa (two flights a week), Kolkata (one flight a week) and Amritsar (one flight a week), an airline spokesperson told … Continue reading Air India plans to operate non-stop flights on Chennai-London route
The economist listed out a host of factors for his “cautiously optimistic” outlook and said that the sustainability of the recovery process depended on the spread of Covid-19, and added that some sectors, particularly services, will remain impacted till the highly contagious infection does not go away and people observe social-distancing protocols.
According to the ‘million-dollar CEO club’ study by EMA Partners, commissioned by TOI, the average salaries of professional CEOs rose 6.5% to Rs 13 crore in 2019-20 and that of their promoter counterparts declined by about 9% to Rs 21 crore. The study is based on BSE 200 companies and no stock options. CXOs earning … Continue reading Professional CEOs see avg pay rise by 7% to Rs 13cr
Prime Minister Narendra Modi on Saturday began his three-city visit to review coronavirus vaccine development work by going to pharma major Zydus Cadila’s manufacturing facility near Ahmedabad.
A deadly heat wave could burn the economy. In just another decade, India would be among the first places where extreme heat would make working outdoors dangerous, says a report released by global management consulting firm McKinsey.
Shareholders of Lakshmi Vilas Bank (LVB) drew some consolation on Friday at the Madras high court. The HC refused to stay LVB’s merger with DSB Bank India (DBIL), but directed DBIL not to take any further actions prejudicial to LVB shareholders.
You may not have heard of it previously, but ‘hearables’ have emerged as the next big thing in the consumer tech industry, becoming more than a fad and fast turning out into a serious business category.
Petrol price on Saturday crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days. Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a vaccine development led to a rally in international oil prices.
The CBI on Saturday started a massive search operation at 45 locations across four states after registering a case against an alleged coal pilferer who acted in collusion with two general managers and three security personnel of the Eastern Coalfields Ltd (ECL), officials said.
Yoga guru Ramdev, his younger brother Ram Bharat and close aide Acharya Balkrishna will be on the board of soya food brand Nutrela-maker Ruchi Soya that was recently acquired by Patanjali Ayurved.
Increase in foreign direct investment (FDI) into India in July-September 2020 to $28.1 billion indicates global investors’ preference for the country’s enabling environment, commerce and industry minister Piyush Goyal said on Saturday.