NEW DELHI : Finance minister Nirmala Sitharaman on Wednesday offered struggling small businesses, the country’s dominant job creator, a rescue package that includes credit guarantees, equity support and a better chance to win government contracts as part of the ₹20 trillion package to revive the economy. Sitharaman sought to tackle the problems faced by micro, small and […]
Oil retreated from a five-week high on concern that relaxing virus lockdowns too early will lead to a resurgence in cases and derail a nascent recovery in energy demand. Futures in New York followed equities lower, dropping 0.9% from the highest settlement since early April. Anthony Fauci, America’s top infectious disease official, said US states […]
NEW DELHI : Maruti Suzuki India Ltd will have shorter shifts at its factories and strict safety plans for office workers, vendors and dealerships as the country’s largest carmaker prepares to restart operations on Tuesday after more than a month’s halt due to the covid-19 pandemic. While Maruti offices would not have more than half of […]
The Union government sharply raised its gross borrowing programme for this fiscal from the budgeted Rs 7.8 lakh crore to Rs 12 lakh crore, signalling a major slippage in fiscal deficit amid rising pressures on both revenue and expenditure because of the Covid-19 pandemic. The “revision in borrowings has been necessitated on account of the […]
The topline equity indices on the BSE and National Stock Exchange opened over 4 per cent lower on Monday tracking losses in the broader Asian markets which fell as a US-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions. At 9:15 am, the […]
New Delhi: The Punjab government Saturday appointed a high-level committee under economist Montek Singh Ahluwalia to develop a medium- to long-term recovery strategy for the state in light of the economic impact of the Covid-19 lockdown. Ahluwalia, who served as chief of the erstwhile Planning Commission, will be one of 20 members of the group. Other members […]
It is a grim situation playing out in the oil markets, grabbing the eyeballs of the entire investor fraternity and defying logic. The absolute collapse of West Texas Intermediate (WTI) prices is primarily owing to the expiry of May WTI futures contracts on New York Mercantile Exchange. In overnight trade, May futures for US crude […]
US oil prices rebounded above zero Tuesday, a day after futures ended in negative territory for the first time as a coronavirus-triggered collapse in demand leaves the world awash in crude. US benchmark West Texas Intermediate for May delivery was changing hands at $1.10 a barrel after closing at -$37.63 in New York. The May futures contract […]
Mumbai: Following in the large footsteps of the recently announced contribution by Tata Trusts and Tata group towards the management of COVID-19 pandemic in India, Tata AIA Life Insurance today announced additional benefits for its Policyholders and Agents. As part of Tata AIA Life’s initiative, its individual policyholders will get COVID-19 related additional benefit up to […]
OPEC, Russia and other oil-producing nations agreed on Sunday to cut output by a record amount, representing around 10 percent of global supply, to support oil prices amid the coronavirus pandemic. The group, known as OPEC+, agreed to reduce output by 9.7 million barrels per day (bpd) for May-June, after four days of marathon talks and following pressure […]