Economy News - Page 20

Coronaviorus Outbreak: US Fed's economic rescue plan may shape global economy for decades to come

US Federal Reserve officials launched an economic rescue plan in record time last month as the coronavirus pandemic spread, reaching decisions that may shape the global economy for decades to come in the space of a few frantic weeks

Coronavirus Outbreak: Wobbly US fiscal response, tech glitches could deepen crisis, lengthen recession

The US government’s massive effort to nurse the economy through the coronavirus crisis was billed as a send-money-and-don’t-sweat-the-details flood of cash to people and businesses in a $22 trillion system that has ground to a halt

Coronavirus pandemic may take a toll on domestic steel players' expansion plans, say experts

The outbreak and spread of the COVID-19 pandemic may adversely impact the expansion plans of domestic steelmakers, according to experts

Corporates appeal to unite CSR efforts to protect vulnerable from coronavirus outbreak

A section of India Inc on Tuesday appealed all corporate social responsibility initiatives to unite and focus efforts towards protecting the vulnerable sections of the society from the COVID-19 pandemic

Exporters to meet Piyush Goyal today; opening factories with 50% workforce, wage issues to be discussed

Exporters will seek immediate roll out of support measures and permission for opening up their factories with 50 percent of workforce during a video conference meeting called by Commerce and Industry Minister Piyush Goyal on Wednesday

India takes US to WTO's safeguard committee for hiking duties on steel, aluminium derivatives

India has sought consultations with the US, under the WTO's safeguard agreement, against American authorities'' decision to increase import duties on derivatives of steel and aluminium products

Coronavirus pandemic set to tip Japan into deep recession this year; Bank of Japan seen easing again

Japan is expected to slip into a deep recession this year with the economy set to contract for a third straight quarter in April-June, a <em>Reuters</em> poll showed on Wednesday, as the coronavirus outbreak wreaks havoc on businesses and daily life

Rupee slips 21 paise to 75.85 in early trade; investors concern over uncertainty as coronavirus cases rise

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Coronavirus Outbreak: JSW Steel says preparing to recommence operations once lockdown is over

As the 21-day lockdown period is nearing end, private steel maker JSW Steel has started preparing to scale up its production

Investors' wealth jumps Rs 7.71 lakh cr as stock markets recover on global cues after two days of fall

Investor wealth on Tuesday jumped Rs 7,71,377 crore as markets bounced back after two days of fall, tracking a broad-based rally in global equities

Centre may require additional Rs 5 lakh cr to support economy hit hard by coronavirus: Former finance secy

The Centre may need to borrow 2-2.5 percent of GDP or about Rs 4-5 lakh crore additionally for supporting people and businesses hit hard by the coronavirus outbreak and nationwide lockdown, according to former finance secretary Subhash Chandra Garg

SBI cuts savings bank deposits interest rate by 25 bps to 2.75%; reduces lending rate by 35 bps

The country's largest lender SBI on Tuesday said it has cut savings rate by 0.25 percent to 2.75 percent on all deposits

Coronavirus Outbreak: Taking steps to help dealers, customers, says Honda Cars India

Honda Cars India Ltd (HCIL) on Monday said it is releasing advance payments to its dealer partners in order to help them with cash flow to remain afloat in the difficult business environment due to COVID-19 forced nationwide lockdown

Coronavirus Outbreak: Reserve Bank relaxes overdraft facility norms for states, UTs

The Reserve Bank on Tuesday relaxed norms for state governments to avail overdraft facilities for a longer period until 30 September as they are facing cashflow mismatches amid coronavirus outbreak leading to countrywide lockdown

Coronavirus Outbreak: Bank of Baroda will provide financial support to women SHGs, FPOs

State-run Bank of Baroda on Tuesday said it will provide financial assistance of up to Rs 1 lakh to women self-help groups (SHGs) to help meet their funding demand amid the COVID-19 crisis

Coronavirus Outbreak: India's renewables installation could fall by a fifth due to lockdown, says report

India could face over 21.6 percent of 3 gigawatts (GW) of solar power and wind energy projects being delayed due to the nationwide lockdown imposed to check the spread of coronavirus, Wood Mackenzie said in a report

Coronavirus Outbreak: Allow liquor sale; illicit trade burden on exchequer, industry body tells 10 states

The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages saying that a blanket ban during the lockdown to contain coronavirus has resulted in sale of illicit and spurious liquor while causing burden on exchequer

Coronavirus Outbreak: MRPL reduces production of diesel, petrol by half on lower demand

With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and Petrochemicals Limited (MRPL) has cut down production of petrol and diesel by half

Investors' wealth jumps Rs 4.65 lakh cr in morning trade; stock markets bounced back after two days of fall

Investor wealth on Tuesday jumped Rs 4,65,715.85 crore in the morning trade as markets bounced back after two days of fall

Rupee spurts 49 paise to close at 75.64; RBI reduces currency market trading timings from today

The Indian rupee surged by 49 paise to 75.64 (provisional) against the US dollar on Tuesday, taking cues from positive equity market sentiment

Coronavirus Outbreak: Production at SAIL, Tata Steel plants down by 50% due to lockdown

Facing reduction in demand due to the lockdown in the country, steel makers SAIL and Tata Steel have reduced their output by about 50 percent, according to sources

States scramble for funds as coronavirus takes toll on coffers; seek central government and RBI support

A three-week nationwide lockdown is testing the resilience of state governments, with analysts warning that essential public services and health care for millions of Indians will be in jeopardy without further central government and RBI support

Commerce ministry creates online platform for issuance of 'certificate of origin' for exporters

The commerce ministry has designed an online platform for the issuance of a key document required for exports to those countries with which India has trade agreements, with a view to facilitate shipments during the COVID-19 crisis

Coronavirus Outbreak: Housing sales drop 29% in Jan-Mar; Bengaluru registers highest fall of 52%

Housing sales fell 29 percent during January-March period across seven major cities to 27,451 units while the value of unsold inventories swelled to Rs 3.65 lakh crore as buyers postponed their buying decisions amid COVID-19 outbreak, according to JLL

Coronavirus Outbreak: Reverse-migration and labour shortage likely to be long-term impact, says report

Labour shortage, it is being feared, can hinder economic recovery

Coronavirus Outbreak: Impact on auto sector to be clear once lockdown is lifted, says Nissan Motor India

The impact of the COVID-19 pandemic on India's automobile industry will be clear once the ongoing lockdown is lifted and there is clarity on the time taken by the supply chain to resume optimal production, according to a top Nissan Motor India official

Coronavirus Outbreak: CRISIL deploys its corporate kitchen to serve 10,000 daily meals for community in Mumbai

CRISIL has opened up its corporate kitchen facility at its Mumbai headquarters to prepare hygienically cooked, nutritious meals on a daily basis to the economically weaker sections of the society

Coronavirus Outbreak: RBI announces reduced trading timings for government bond, forex markets from 7 April

The coronavirus outbreak has led to the central bank of India, the RBI to change market timings for the government bond, forex markets, while maintaining the duration of other key banking-related activities

Investors' wealth tumbles by Rs 4.82 lakh cr in two days of stock market fall on coronavirus concern

Investor wealth tumbled by Rs 4,82,033.63 crore in two days of market fall as rise in COVID-19 cases further triggered selling in equities

Coronavirus Outbreak: Fitch slashes India's GDP growth forecast to 30-year low of 2% for FY21

Fitch Ratings on Friday said it has slashed India''s growth forecast for the current fiscal to a 30-year low of 2 percent, from 5.1 percent projected earlier, as economic recession gripped global economy following the lockdown due to COVID-19 pandemic