Economy News - Page 26

Coronavirus Outbreak: Govt monitoring availability of essential commodities, says Ram Vilas Paswan

Union Food Minister Ram Vilas Paswan on Wednesday said the government is monitoring the availability of essential commodities in the market amid nationwide lockdown for next 21 days to check the spread of coronavirus outbreak

Coronavirus Outbreak: Experts peg India's cost of lockdown at Rs 9 lakh cr or 4% of GDP

Pegging the cost of the COVID-19 lockdown at $120 billion (approximately Rs 9 lakh crore) or 4 percent of the GDP, analysts on Wednesday sharply cut their growth estimates and stressed on the need to announce an economic package

Coronavirus Outbreak: Brokers body urges SEBI to close stock markets for two days

Stock brokers association ANMI on Tuesday asked market regulator SEBI to close stock exchanges for at least two days, which will give brokerage firms time to close their entire outstanding positions, in case all states do not declare stock broking as an essential service, exempted from lockdown

Reserve Bank's US treasury holdings touch an all-time high at $164.3 bn in January

The Reserve Bank, which has been snapping up greenbacks in the past two years, has also been lapping up US treasury bills and the holdings touched a record high in January

Coronavirus Outbreak: Mother Dairy says milk demand up 5-10%, facing no major supply disruptions amid lockdowns

Mother Dairy, which supplies over 30 lakh litres of milk everyday in the national capital region, said it is not facing any major supply disruptions in spite of 5-10 percent increase in demand on Tuesday, amid lockdowns in the wake of coronavirus spread

Coronavirus Outbreak: Nestle suspends operations, in talks with authorities over food products

FMCG major Nestle India has suspended and scaled-down operations, except for essential items, at its manufacturing units in compliance with the directives issued by the government, the company said on Tuesday

Don't cancel train tickets booked online, you will get refund automatically: IRCTC to Passengers

The IRCTC has asked people not to cancel the tickets they have booked online for those trains that have been cancelled and assured them that they will get a full refund automatically

Rupee settles 26 paise higher at 75.94 after govt says working on economic package to deal with coronavirus crisis

Snapping its four-session losing run, the rupee on Tuesday gained 26 paise to settled at 75.94 (provisional) against the US dollar after Finance Minister Nirmala Sitharaman said the government is working on an economic package to deal with the coronavirus crisis

Coronavirus Outbreak: Govt bans export of sanitisers, all types of ventilators with immediate effect

The government on Tuesday banned export of all sanitisers and ventilators with immediate effect in wake of the coronavirus outbreak

Coronavirus Outbreak: India needs stimulus plan or it risks crippling small businesses, say industry bodies

India’s small and mid-sized enterprises (SMEs) will struggle for survival if the government does not follow international counterparts in offering financial support to those acutely impacted by the coronavirus outbreak, industry bodies said

P Chidambaram flays delay in setting up of economic task force to battle coronavirus pandemic

Former Union Finance Minister P Chidambaram on Tuesday attacked the Modi government for the delay in setting up a Special Economic Task Force to analyse the effects of coronavirus pandemic on Indian economy and to create a road map to reduce the financial strain

Coronavirus Outbreak: IndiGo confirms no deduction of salaries or leaves of employees during domestic flight suspension

Budget carrier IndiGo has assured its employees that it will not make any deduction in their salaries or leaves due to the suspension of domestic flights till 31 March

Coronavirus Outbreak: Railways to release full salary to lakhs of contractual workers during suspension of service

In a huge relief to lakhs of contractual employees, the railways has decided to release their full salaries even as it suspended all its passenger services till 31 March

Coronavirus Outbreak: Domestic flight services likely to remain suspended after 31 March, says CAPA

Domestic air services are likely to remain suspended beyond 31 March in the wake of the coronavirus pandemic, according to aviation consultancy CAPA

Coronavirus Outbreak: Mideast airlines lose over Rs 50,000 crore as airports shut, says IATA

Seven Middle Eastern countries have suspended all commercial flights due to a fast-spreading new virus as the aviation industry's largest trade association announced on Thursday that airlines in the region have already lost more than $7 billion in revenue

Govt says its contractual employees will be paid during period of absence due to coronavirus lockdown

The Finance Ministry on Monday said contractual employees will be paid even if they are unable to report on duty due to lockdown imposed by authorities

State Bank of India commits 0.25% of FY20 annual profit to help fight coronavirus outbreak

The country's biggest lender State Bank of India on Monday said it will provide 0.25 percent of its annual profit for 2019-20 to fight the coronavirus outbreak in India

Coronavirus Outbreak: Experts urge corporate India to avoid layoffs, pay cuts for faster recovery

With the coronavirus pandemic threatening a sharp economic slowdown, experts are suggesting companies to adopt a humane approach in rationalising their expenses without going for across-the-board pay cuts or freezing of hikes to ensure a faster recovery from the slump

IMF warns coronavirus recession could be worse than 2009 financial crisis; says will require unprecedented response

The world economy is facing "severe" economic damage from the coronavirus pandemic that could be even more costly than in 2009 and will require an unprecedented response, International Monetary Fund(IMF) chief Kristalina Georgieva said Monday

Coronavirus Outbreak: E-commerce players flag delivery disruption as lockdowns being imposed in various parts of country

With lockdowns being imposed in various parts of the country to contain the spread of coronavirus, e-commerce players, including Amazon India, on Monday faced disruption in the delivery of even essential products to their customers

Rupee witnesses marginal recovery, rises 18 paise to 76.02 in early trade tracking positive opening in domestic equities

The Indian rupee witnessed a marginal recovery in early trade and appreciated by 18 paise to 76.02 against the US dollar on Tuesday tracking positive opening in domestic equities

Coronavirus Outbreak: Narendra Modi asks corporates to maintain production lines of essential commodities, prevent black marketing

Prime Minister Narendra Modi on Monday asked Indian companies to maintain production lines of essential commodities and ensure there is no hoarding as well as black marketing in the wake of the country fighting the coronavirus outbreak

Coronavirus Outbreak: Exempt stock market entities and their workforce from lockdown, Centre tells states

The Centre has requested chief secretaries of all states to exempt services of SEBI-regulated stock market entities as well as related workforce from the purview of lockdown imposed to curb spreading of coronavirus infections

Kia Motors India suspends operations with immediate effect amid coronavirus concerns

Kia Motors India indefinitely suspended all its operations with immediate effect and the company's manufacturing facility in Andhra Pradesh and company office premises will stop functioning until further notice in view of the coronavirus concerns, the Korean automaker said in a statement on Monday

Companies' expenditure to tackle coronavirus to be considered as CSR activity, says govt

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