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Business News
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Mukesh Ambani is world’s 11th richest billionaire. Check who else is on the list
By hindustantimes.com | Edited by Kanishka Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 24, 2021 07:27 AM IST
Mukesh Ambani's bet on consumer services -- telecom and retail -- seems to be paying off despite the pandemic
Fee waiver, road tax discount key features of Centre’s draft scrappage policy
By HT Correspondent, New Delhi
PUBLISHED ON JAN 24, 2021 05:17 AM IST
Features of the draft policy, one of whose caveats is that the vehicles that are sent to the scrapyard must be dismantled in an environment friendly way, were discussed by the ministry at the 40th meeting of the transport development council chaired by Union transport minister Nitin Gadkari on Tuesday.
UK PM Boris Johnson presses US Prez Joe Biden for new trade deal
AP, Washington
PUBLISHED ON JAN 24, 2021 05:01 AM IST
The push for a new deal came in a broad-ranging call between the two leaders that touched on the global response to the coronavirus pandemic as well as the Biden administration announcing this week that the U.S. would rejoin the Paris climate accord and the World Health Organization, according to a statement from Downing Street.
India’s domestic aviation operations nearing pre-pandemic levels
Bloomberg
UPDATED ON JAN 23, 2021 10:54 PM IST
As many as 257,613 passengers flew locally as on Jan. 22, compared with 30,000 passengers that traveled by air when such flights were restarted on May 25, Puri said in a Twitter post on Saturday.
Oil industry reels as Joe Biden targets fossil fuels in first days
Bloomberg
PUBLISHED ON JAN 23, 2021 06:25 PM IST
- Officials are worried that technical permitting decisions are being placed in the hands of political appointees, rather than expert regulators in the field. And they’re concerned permits -- or simply changes to them -- will be delayed for existing drilling operations.
IT giants Apple, Google welcome Joe Biden's new immigration reforms
PTI, Washington
PUBLISHED ON JAN 23, 2021 05:14 PM IST
On the day one of his presidency on Wednesday, Biden sent a comprehensive immigration bill to Congress which proposes major overhauls to the system.
PMC Bank fraud: ED arrests Viva group MD, consultant
By Vijay Kumar Yadav | Edited by Abhinav Sahay, Mumbai
PUBLISHED ON JAN 23, 2021 03:31 PM IST
- ED's money laundering probe in the PMC Bank case began after the Mumbai police registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan among others.
Gold prices start the week at ₹48,332 per 10 gram, fall to ₹48,861
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 23, 2021 11:19 AM IST
Gold price was up in the national capital on Monday with a recovery in international prices and rupee depreciation, according to HDFC Securities.
Fuel prices surge once more. Check what people will have to pay in major cities
By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 23, 2021 11:11 AM IST
Petrol prices in Delhi rose to ₹85.70 and diesel prices were up by 15 paise to rise to ₹75.88 per litre.
RBI proposes stricter norms for non-banks
By Gopika Gopakumar, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:39 AM IST
The regulator proposed to classify the shadow banks into four categories, depending on their systemic importance and potential risk to the stability of financial system stability.
Markets skid amid weak global cues
By Nasrin Sultana, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:37 AM IST
Stocks in the Asia-Pacific also traded lower, with Hong Kong’s Hang Seng falling 1.6%, China’s Shanghai Composite 0.4%, Japan’s Nikkei 0.44% and South Korea’s Kospi 0.64%.
CSR offences by firms now a ‘civil wrong’, not a crime
By Rajeev Jayaswal
PUBLISHED ON JAN 23, 2021 05:25 AM IST
In line with a commitment made by the finance minister, the government formally notified that non-compliance with CSR provisions would be a “civil wrong,” not a crime, and shifted such violations to a penalty regime, two officials said, requesting anonymity.
Intel tumbles after new CEO recommits to chip manufacturing
Bloomberg
PUBLISHED ON JAN 22, 2021 08:00 PM IST
- Keeping chip production in-house may be bad for Intel because its manufacturing technology has fallen behind Taiwan Semiconductor Manufacturing Co., which makes chips for many of Intel’s rivals. If the US company can’t catch up, its products will become less competitive, lose sales and market share.
Indigo Paints IPO garners robust response; subscribed 117 times on final day
PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:34 PM IST
The price band was fixed at ₹1,488-1,490 a share for the initial share-sale, which was open for public subscription during January 20-22.
India will be role model on how to vaccinate billion people at scale: Nilekani
PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:02 PM IST
Speaking at Redseer's Ground Zero 4.0 event, Nilekani spoke on how to build for scale in India that presents a massive opportunity with a booming internet penetration and rising adoption of digital services.
Govt has pledged strict foreign investment rules for e-commerce, says CAIT
Reuters, New Delhi
PUBLISHED ON JAN 22, 2021 05:34 PM IST
India's e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019.
Iran starts ramping up oil production to pre-sanctions levels
Bloomberg, Tehran
PUBLISHED ON JAN 22, 2021 04:47 PM IST
- Iran has been subject to tough US sanctions since 2018, when the administration of then-President Donald Trump unilaterally withdrew from an international deal that restricted the Middle Eastern country’s nuclear activities. Its crude production was below 2 million barrels a day for most of 2020.
Elon Musk targets telecom for next disruption with Starlink internet
Bloomberg
PUBLISHED ON JAN 22, 2021 04:40 PM IST
SpaceX has told investors that Starlink is angling for a piece of a $1 trillion market made up of in-flight internet, maritime services, and demand in China and India.
Sensex tanks 746 points; Nifty ends below 14,375
PTI, Mumbai
PUBLISHED ON JAN 22, 2021 04:15 PM IST
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance.
Google parent-company shutting Loon, balloon-based alternative to cell towers
Reuters
PUBLISHED ON JAN 22, 2021 04:01 PM IST
Loon aimed to bring connectivity to areas of the world where building cell towers are too expensive or treacherous.
How traditional finance management methods by women continue to be relevant now
By HT Brand Studio
PUBLISHED ON JAN 22, 2021 02:40 PM IST
As the role of women in shaping the finances of the household continues to evolve, it is important to know that the traditional investment tactics employed by women has also catalysed the remodeling of women’s relationship with finance because those methods continue to be relevant even today.
Airbus slows production ramp-up, cites virus hit to demand
Bloomberg
PUBLISHED ON JAN 22, 2021 02:36 PM IST
Output of the A320, its best-selling model, will now rise gradually to 45 per month through the fourth quarter, Airbus said in a statement.
Invest in mutual funds but steer clear of ‘Herd Mentality’!
By HT Brand Studio
PUBLISHED ON JAN 22, 2021 02:30 PM IST
‘Herd mentality’ impacts not only the investors, who do not have the educational background or interest, but even many educated people who get impacted from the one-way wave.
Bajaj Finance can absorb a surge in provisions, says S&P Global Ratings
ANI, Singapore
PUBLISHED ON JAN 22, 2021 01:29 PM IST
BFL's performance in the third quarter of fiscal 2021 (ending March 31, 2021) was broadly in line with expectations.
Biocon Q3 net profit falls 19% to ₹186.6 cr
PTI, Mumbai
PUBLISHED ON JAN 22, 2021 12:19 PM IST
The company had posted a profit of ₹230.3 crore for the corresponding period of the previous fiscal.
Charting Sensex’ journey: How India’s benchmark index rose from 1,000 to 50,000
By Vineet Sachdev, Hindustan Times, New Delhi
UPDATED ON JAN 22, 2021 11:37 AM IST
- The Sensex has nearly doubled from its lows in March and has risen nearly 50 times in three decades — the benchmark was on 999 on January 1, 1991.
Rupee edges 4 paise lower to 73.03 against USD in early trade
PTI, Mumbai
PUBLISHED ON JAN 22, 2021 10:50 AM IST
The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.03 per cent to 90.10.
Sensex, Nifty inch lower; all eyes on Reliance ahead of results
Reuters
UPDATED ON JAN 22, 2021 09:44 AM IST
The blue-chip NSE Nifty 50 index fell 0.2% to 14,569 and the benchmark S&P BSE Sensex was down 0.2% at 49,528.03.
Intel probes potential early unauthorized access to earnings report
Bloomberg
PUBLISHED ON JAN 22, 2021 07:43 AM IST
The stock fell almost 5% in extended trading after the company’s new CEO committed to in-house manufacturing during a conference call with analysts.
‘Economic recovery seeing phoenix-like rise’
By Gopika Gopakumar, Livemint, Mumbai
PUBLISHED ON JAN 22, 2021 06:13 AM IST
The Indian economy shrank 23.9% in the first quarter and 7.5% in the second quarter on account of the Covid-19 pandemic. RBI expects the economy to contract by 7.5% in the current fiscal to March.