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Work from home to save fuel, Pakistan’s Central Bank tells staff

In a Twitter message Thursday, State Bank of Pakistan told its staff to opt for virtual meetings, car pooling and cutting down on air conditioning. It also suspended purchases of furniture and restricted travel.
State Bank of Pakistan told its staff to opt for virtual meetings, car pooling and cutting down on air conditioning.(Representative image)
State Bank of Pakistan told its staff to opt for virtual meetings, car pooling and cutting down on air conditioning.(Representative image)
Published on Jun 23, 2022 02:15 PM IST
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Bloomberg |

India’s RBI seen raising rates twice before weighing a pause: Report

“The question of a pause is unlikely to be widely raised in the next few policy meetings,” Nomura economists Sonal Varma and Aurodeep Nandi wrote in a report to clients.
 (REPRESENTATIVE PHOTO)
 (REPRESENTATIVE PHOTO)
Published on Jun 23, 2022 01:58 PM IST
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Bloomberg |

4-day work week, major change in take-home salary: New labour codes in 5 points

New wage code from July 1? Even if the 4-day work week gets implemented, Indian companies registered under the Factories Act may not be able to reduce the number of working days increasing the number of per-day working hours. 
Can Indian companies adopt a 4-day work week once the 4 new labour codes get implemented? (Representative Image)
Can Indian companies adopt a 4-day work week once the 4 new labour codes get implemented? (Representative Image)
Published on Jun 23, 2022 01:42 PM IST
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By | Written by Poulomi Ghosh

Markets bounce back in opening session after sharp fall in previous trade

The 30-share BSE Sensex was trading with a gain of 238.73 points at 52,061.26. The NSE Nifty went up by 78.1 points to 15,491.40.
From the Sensex pack, Bharti Airtel, Wipro, Maruti, TCS, Larsen & Toubro and IndusInd Bank were the major gainers in early trade.(Reuters)
From the Sensex pack, Bharti Airtel, Wipro, Maruti, TCS, Larsen & Toubro and IndusInd Bank were the major gainers in early trade.(Reuters)
Published on Jun 23, 2022 09:20 AM IST
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PTI |

CEO Elon Musk says new Tesla plants are ‘money furnaces’ losing billions

Musk also said in the May 31 interview that Tesla has struggled to quickly increase production in Austin of Model Y SUVs that use the company’s new 4680 cells and structurally integrated battery pack.
Tesla CEO Elon Musk.(file image)
Tesla CEO Elon Musk.(file image)
Published on Jun 23, 2022 05:43 AM IST
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Bloomberg |

Chinese banks to give $2.3 bn to Pakistan 'within days' to aid economy

In a latest update on the agreement, on Wednesday, Pakistan's finance minister Miftah Ismail said that cash inflow under the loan agreement is expected within days, reported Pakistan's local media outlet Dawn.
Pakistan enters a new loan agreement with Chinese banks to aid dwindling cash reserves.(Reuters file photo)
Pakistan enters a new loan agreement with Chinese banks to aid dwindling cash reserves.(Reuters file photo)
Published on Jun 23, 2022 04:22 AM IST
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ANI | , Islamabad

I-T dept notifies investors to disclose TDS for cryptos, virtual digital assets

From July 1, tax deducted at source (TDS) of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyond 10,000 in a year, as the Finance Act 2022 has introduced Section 194S in the I-T Act.
TDS to be deducted on cryptocurrency, other virtual digital assets from July 1. (REPRESENTATIVE PHOTO)
TDS to be deducted on cryptocurrency, other virtual digital assets from July 1. (REPRESENTATIVE PHOTO)
Published on Jun 23, 2022 04:14 AM IST
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PTI |

Sri Lanka, deep in debt, sued by bondholder in US over historic default

Sri Lanka was sued in the US by a bondholder after the South Asian nation defaulted on its debt for the first time in history while struggling to stop an economic meltdown.
Sri Lankan prime minister Ranil Wickremesinghe(Reuters File Photo)
Sri Lankan prime minister Ranil Wickremesinghe(Reuters File Photo)
Published on Jun 23, 2022 01:49 AM IST
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Bloomberg |

NFRA penalises Maharashtra firm’s CA for professional misconduct

NFRA issued notice to the chartered accountant (CA) in respect of his professional misconduct as statutory auditor of a Maharashtra-based steel firm in March this year
NFRA’s order debarring a chartered accountant (CA) for professional misconduct is the first such case, the regulator’s external spokesperson said. (Representative Image)
NFRA’s order debarring a chartered accountant (CA) for professional misconduct is the first such case, the regulator’s external spokesperson said. (Representative Image)
Published on Jun 22, 2022 09:22 PM IST
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‘At 7.5%, India to be fastest-growing major economy this year’: PM Modi

The Brics Business Forum meeting was scheduled a day ahead of the virtual Brics Summit on Thursday that is likely to focus on trade, counter-terrorism, health and environment
Prime Minister Narendra Modi addressed ‘Brics Business Forum 2022’, through a video conference, in New Delhi (PIB via PTI)
Prime Minister Narendra Modi addressed ‘Brics Business Forum 2022’, through a video conference, in New Delhi (PIB via PTI)
Updated on Jun 22, 2022 07:36 PM IST
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India will need to invest $223 billion to meet its 2030 climate goals: Study

Corporate commitments from Indian power companies could help India achieve 86% of its 2030 goals of building 500GW of cumulative renewable energy generation capacity, the BloombergNEF report said
Photovoltaic panels at a solar farm in Karnataka’s Pavagada. India plans to expand its solar capacity to 280 gigawatts by the end of this decade. (Bloomberg File)
Photovoltaic panels at a solar farm in Karnataka’s Pavagada. India plans to expand its solar capacity to 280 gigawatts by the end of this decade. (Bloomberg File)
Updated on Jun 23, 2022 08:19 AM IST
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ByJayashree Nandi

Sensex crashes 710 pts to end day at 51,823; Nifty closes session below 15,500

  • Tata Steel was the biggest laggard in the Sensex pack, shedding 5.24 per cent, followed by Wipro, Reliance Industries, IndusInd Bank, HCL Technologies, Bajaj Finserv, Titan and Bajaj Finance.
In the broader market, the BSE midcap gauge lost 1.53 per cent and the smallcap index declined by 1.11 per cent.(MINT_PRINT)
In the broader market, the BSE midcap gauge lost 1.53 per cent and the smallcap index declined by 1.11 per cent.(MINT_PRINT)
Updated on Jun 22, 2022 05:25 PM IST
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PTI |

Delhi airport becomes India’s first to run entirely on hydro and solar energy

Since June 1, around 6 per cent of the airport’s electricity requirement is being met from on-site solar power plants, while the remaining 94 per cent energy is coming from a hydropower plant
Delhi's Indira Gandhi International airport. (ANI Photo)
Delhi's Indira Gandhi International airport. (ANI Photo)
Updated on Jun 22, 2022 03:21 PM IST
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In opening session, Sensex falls 418 points to 52,114; Nifty trades at 15,508

From the Sensex pack, Bajaj Finserv, Tata Steel, Bajaj Finance, Axis Bank, IndusInd Bank, Tech Mahindra and Bharti Airtel were the major laggards in early trade.
Sensex opens in the red, trades at 52,080; Nifty trades below 15,500(Reuters File)
Sensex opens in the red, trades at 52,080; Nifty trades below 15,500(Reuters File)
Published on Jun 22, 2022 09:30 AM IST
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PTI |

Blockchain payment company Roxe Holdings nears $3.65 billion SPAC deal: report

The deal bucks an unfavorable market environment with cryptocurrencies plunging in value and investors largely losing interest in special purpose acquisition companies (SPACs) of this sort partly because of disappointing returns.
A deal could be announced later on Tuesday, the sources said, requesting anonymity ahead of an official announcement.(REUTERS file image)
A deal could be announced later on Tuesday, the sources said, requesting anonymity ahead of an official announcement.(REUTERS file image)
Published on Jun 22, 2022 06:46 AM IST
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Reuters |

Pornhub-owner MindGeek CEO, COO resign

  • The executives stepping down was planned since early 2022, MindGeek said, adding that both Antoon and Tassillo will remain shareholders of the company.
Representational image(AFP)
Representational image(AFP)
Published on Jun 22, 2022 05:51 AM IST
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Reuters |

Sensex leaps over 900 points to end day at 52,532; Nifty closes below 16,000

  • Barring Nestle India, all Sensex components closed in the green. Titan rallied 5.92 per cent, followed by SBI, TCS, HCL Technologies, Dr Reddy's, Tata Steel, Wipro, Infosys, ITC and Tech Mahindra.
In the broader market, the BSE smallcap gauge rallied 2.99 per cent and the midcap index jumped 2.42 per cent.(Reuters File)
In the broader market, the BSE smallcap gauge rallied 2.99 per cent and the midcap index jumped 2.42 per cent.(Reuters File)
Updated on Jun 21, 2022 05:36 PM IST
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PTI |

Sensex jumps 438 points in early trade; Nifty tops 15,400

  • The BSE benchmark was trading with a gain of 438.48 points to 52,036.32. The NSE Nifty climbed 139.35 points to 15,489.50.
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
Published on Jun 21, 2022 09:22 AM IST
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PTI |

Reliance fined for violating disclosure rules in 2020 Facebook deal

The Securities and Exchange Board of India (SEBI) said Reliance did not disclose the deal even after newspaper reports in March 2020 published price-sensitive details about the imminent investment that led to a spike in its shares.
Reliance Industries(Reuters representative image)
Reliance Industries(Reuters representative image)
Published on Jun 21, 2022 01:46 AM IST
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Reuters |

VR headsets need more than 8K for full human field of view: Mark Zuckerberg

Meta, formerly Facebook, hopes the varifocal technology will underline improvements in its next-generation VR headsets
The resolution that the virtual reality headset supports by default allows wearers to read to read the 20/20 vision line on an eye chart, via the headset.
The resolution that the virtual reality headset supports by default allows wearers to read to read the 20/20 vision line on an eye chart, via the headset.
Published on Jun 20, 2022 07:35 PM IST
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Markets end in green as Sensex surges by 237.42 points; Nifty up by 56.65 pts

From the Sensex pack, Hindustan Unilever, HDFC, Wipro, UltraTech Cement, Asian Paints and HDFC Bank were among the biggest gainers. On the other hand, Tata Steel, IndusInd Bank, Reliance Industries, M&M, NTPC and State Bank of India were among the major laggards.
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)
Published on Jun 20, 2022 03:39 PM IST
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PTI |

Air India to consider order for 300 narrow-body planes: Report

The carrier is mulling an order of as many as 300 Airbus SE A320neo family jets or Boeing Co. 737 Max planes or a mix of both, the people said, asking not to be identified because the discussions are confidential.
Tata Sons took control of Air India from the government in January this year. (File Photo)
Tata Sons took control of Air India from the government in January this year. (File Photo)
Published on Jun 20, 2022 10:29 AM IST
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Bloomberg |

Sensex opens in green at 51,450; Nifty begins session at 15,314

Sensex opens in green at 51,450; Nifty begins session at 15,314.
Sensex 
Sensex 
Published on Jun 20, 2022 09:21 AM IST
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Not easy for airline to turn profit in India: IATA official

Philip Goh, Regional Vice President for Asia Pacific of International Air Transport Association (IATA), made the remarks during a press conference at the 78th annual general meeting of the global airlines body.
Not easy for airline to turn profit in India: IATA official(AP file photo)
Not easy for airline to turn profit in India: IATA official(AP file photo)
Published on Jun 19, 2022 10:04 PM IST
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PTI |

Bitcoin slides below $20,000 to lowest since December 2020

Bitcoin, the biggest cryptocurrency was last down 7.79% at $18,848, having earlier touched $18,732, its lowest since December 2020.
The slide is hitting retail investors that bought into the asset.
The slide is hitting retail investors that bought into the asset.
Updated on Jun 19, 2022 05:03 AM IST
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Reuters |

India, EU set to resume free trade talks after 9-year gap

  • India has already signed two important free trade agreements this year – with the United Arab Emirates (UAE) and Australia – and is negotiating a comprehensive trade deal with the United Kingdom, the breakaway partner of the EU.
Commerce minister Piyush Goyal. (REUTERS File photo)
Commerce minister Piyush Goyal. (REUTERS File photo)
Updated on Jun 19, 2022 01:51 AM IST
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ByRajeev Jayaswal

Tesla welcome in India but...: Union minister on Elon Musk's plan for EV imports

Tesla has been eyeing the Indian auto market for the past few years but has been unwilling to comply with the Centre's conditions to sell the popular EV range.
Tesla and SpaceX founder Elon Musk(Reuters / File)
Tesla and SpaceX founder Elon Musk(Reuters / File)
Published on Jun 18, 2022 10:55 PM IST
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By, New Delhi

India's Russian coal purchase spikes as traders offer heavy discounts: Report

Russia, facing severe Western sanctions over its invasion of Ukraine, warned the European Union in April against sweeping sanctions on coal, saying they would backfire as the fuel would be redirected to other markets.
Representative image(AFP file)
Representative image(AFP file)
Updated on Jun 18, 2022 06:18 PM IST
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Reuters | , New Delhi

Bitcoin breaches $20,000 for the first time since 2020

Bitcoin fell as much as 6% to $19,377.08 at 2:54 pm Hong Kong on Saturday. The largest token by market value has fallen for 12 straight days.
A higher-rate environment has been deleterious to riskier assets like crypto, contributing to a roughly 70% slide in Bitcoin from its all-time high in November.
A higher-rate environment has been deleterious to riskier assets like crypto, contributing to a roughly 70% slide in Bitcoin from its all-time high in November.
Published on Jun 18, 2022 01:24 PM IST
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Bloomberg |
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