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Equity benchmarks marched higher for the second day on Thursday, helped by IT and banking stocks, as hopes of another stimulus package from the government bolstered investor sentiment amid the coronavirus overhang. The 30-share BSE Sensex surged 483.53 points or 1.54 percent to close at 31,863.08, a six-week high. The broader NSE Nifty advanced 126.60 […]
Equity benchmark Sensex ended 59 points higher after a highly volatile session on Monday amid tepid cues from global markets as concerns over COVID-19 kept investors on edge. After swinging over 566 points during the day, the 30-share index ended 59.28 points or 0.19 percent higher at 31,648. On the other hand, the NSE Nifty […]
Expecting a major global recession due to the coronavirus pandemic, the World Bank on Friday said that its estimates suggest a much deeper economic downturn than the 2007-09 Great Recession. World Bank President David Malpass said while the tragic impacts of the COVID-19 pandemic are being felt globally, this crisis will likely hit the poorest […]
The foreign exchange reserves gained by a healthy USD 1.815 billion to USD 476.475 billion for the week to April 10, as per the latest weekly data from the Reserve Bank released on Friday. The forex reserves had declined by USD 902 million to USD 474.660 billion in the week to April 3, due to […]
Finance Minister Nirmala Sitharaman on Friday said India will soon announce fresh relief measures and economic stimulus to help the poor and industry fight the impact of the COVID-19 pandemic. Participating in the 101st meeting of the Development Committee Plenary of the World Bank through video conference, Sitharaman also assured the global community that India […]
The RBI on Friday further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points, as it unveiled a second set of measures to support the economy hit hard by a coronavirus-led slowdown. In his second televised address since the nationwide […]
New York City could lose 475,000 jobs over the 12 months, the worst it has faced since the early 1970s, and experience a shortfall of USD 9.7 billion in tax revenue due to the COVID-19 pandemic, a report by New York City Independent Budget Office (IBO) said. In a fiscal brief issued Wednesday, the budget […]
Saudi Arabia hosted virtual talks between G20 finance ministers and central bankers Wednesday amid warnings of a deep coronavirus-triggered recession and growing calls for debt relief for poor countries including in Africa. The meeting comes a day after the Group of Seven (G7) nations expressed support for a temporary halt to debt payments from the […]
Vistara chief Leslie Thng on Wednesday announced that senior employees will be going on compulsory leave without pay for up to three days between April 15 and 30 as a measure to further conserve the airline’s cash flow amid lockdown to combat the COVID-19 threat. On March 27, the airline had also introduced compulsory leave […]
The Indian rupee pared early gains and settled for the day 17 paise lower at an all-time low of 76.44 (provisional) against the US dollar on Wednesday, tracking weak domestic equities and strengthening of the American currency overseas. Forex traders said firm US dollar index weighed on the local unit. Besides, investor sentiments remain fragile […]
Tech lovers have often witnessed some absolutely diverse kind of cross connections of apps and gadgets and technology. They come together to bring about awesome new techs for the world. We are indeed indebted to the resultant technology of their effort. This time, to set the news on the top of the notch, the German […]
