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Bitcoin is struggling to maintain its momentum from the end of 2020.(File photo)

Bitcoin falters for a second day, slides below technical level

Bloomberg
PUBLISHED ON JAN 21, 2021 12:19 PM IST
Bitcoin’s latest gyrations have seen it touch a record of almost $42,000 earlier this month before quickly dropping about 17%.
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A shopper walks through an aisle displaying personal care goods at a Big Bazaar hypermarket, operated by Future Retail Ltd. in Mumbai(Bloomberg File Photo)
A shopper walks through an aisle displaying personal care goods at a Big Bazaar hypermarket, operated by Future Retail Ltd. in Mumbai(Bloomberg File Photo)

Future Retail, Enterprises hit upper circuit after Sebi clears deal with RIL

PTI, New Delhi
PUBLISHED ON JAN 21, 2021 12:15 PM IST
Meanwhile, Reliance Industries Ltd (RIL) was trading at 2,114.8 during the late morning trade, rising 2.91 per cent.
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Union minister Gadkari said PSUs will soon settle dues of MSMEs within 45 days of sale.(Mohd Zakir/ Hindustan Times)
Union minister Gadkari said PSUs will soon settle dues of MSMEs within 45 days of sale.(Mohd Zakir/ Hindustan Times)

Gadkari says govt to bring law to ensure MSME dues are paid within 45 days

ANI, New Delhi
PUBLISHED ON JAN 21, 2021 11:16 AM IST
Union Minister of Micro, Small and Medium Enterprises Nitin Gadkari on Wednesday highlighted that delayed payments are hurting the sector.
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On Friday, the rupee had settled at 73.11 against the American currency. Representational image.(Getty Images/iStockphoto)
On Friday, the rupee had settled at 73.11 against the American currency. Representational image.(Getty Images/iStockphoto)

Rupee gains 7 paise to trade near 5-month high of 72.98 vs USD

PTI, Mumbai
PUBLISHED ON JAN 21, 2021 10:50 AM IST
Brent crude futures, the global oil benchmark, rose 0.36 per cent to USD 55.89 per barrel.
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The <span class='webrupee'>₹</span>4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday.(Mint Archive)
The 4,633 crore IPO of Indian Railway Finance Corporation (IRFC) was subscribed 3.49 times on the final day of bidding on Wednesday.(Mint Archive)

Govt to earn 1,544 cr from Indian Railway Finance Corporation IPO

PTI, New Delhi
UPDATED ON JAN 21, 2021 09:48 AM IST
The IPO of IRFC closed on Wednesday with an enthusiastic response from investors in all the categories
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People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI File Photo)
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI File Photo)

Sensex scales 50,000; Reliance gains on nod for Future deal

Reuters, Bengaluru
UPDATED ON JAN 21, 2021 10:34 AM IST
Investor sentiment was also boosted with global equity benchmarks hitting record highs on Wednesday on expectations of further US stimulus from newly inaugurated US President Joe Biden's administration.
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Union minister for finance and corporate affairs Nirmala Sitharaman. (File photo)
Union minister for finance and corporate affairs Nirmala Sitharaman. (File photo)

Govt considering Customs amnesty scheme to resolve legacy disputes

By Rajeev Jayaswal
UPDATED ON JAN 21, 2021 09:10 AM IST
It is one of the demands of the industry to give businesses a chance to resolve past disputes related to customs in line with other two schemes, Sabka Vishwas and Vivad se Vishwas
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In August 2020, Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, announced that it is acquiring the retail and wholesale business and the logistics and warehousing business from the Future Group. (REUTERS)
In August 2020, Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, announced that it is acquiring the retail and wholesale business and the logistics and warehousing business from the Future Group. (REUTERS)

SEBI approves Future Group-Reliance Retail deal

ANI, Mumbai
PUBLISHED ON JAN 21, 2021 09:06 AM IST
SEBI listed a number of conditions in accordance with the Composite Scheme of Arrangement.
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Vegetable shops at Bhandup market in Mumbai. (Satish Bate/Hindustan Times)
Vegetable shops at Bhandup market in Mumbai. (Satish Bate/Hindustan Times)

Inflation based on CPI for farm, rural labourers eases in December

ANI, New Delhi
PUBLISHED ON JAN 21, 2021 07:55 AM IST
The release said amongst states, the maximum decrease in the Consumer Price Index Numbers for agricultural labourers and rural labourers was experienced by Gujarat and West Bengal
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Finance minister Nirmala Sitharaman had proposed the first legacy dispute resolution mechanism for central excise and service tax in her first budget, presented on July 5, 2019, for smoother functioning of the newly introduced Goods and Services Tax (GST) regime.
Finance minister Nirmala Sitharaman had proposed the first legacy dispute resolution mechanism for central excise and service tax in her first budget, presented on July 5, 2019, for smoother functioning of the newly introduced Goods and Services Tax (GST) regime.

Govt considering a customs amnesty scheme to resolve legacy disputes

By Rajeev Jayaswal
UPDATED ON JAN 21, 2021 11:40 AM IST
Industry has been demanding that they be given a chance to resolve past disputes related to customs in line with the two schemes. The government is actively considering the demand, the people cited above added.
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In 2021, Jalan predicted a reverse of 2020 — still a tale of two halves, but with the first half seeing the bulk of capital markets activity.(Anshuman Poyrekar/HT Photo)
In 2021, Jalan predicted a reverse of 2020 — still a tale of two halves, but with the first half seeing the bulk of capital markets activity.(Anshuman Poyrekar/HT Photo)

‘Govt spending, private sector incentives crucial’

PUBLISHED ON JAN 21, 2021 07:48 AM IST
Sumit Jalan, an investment banker, and managing director and co-head of India investment banking and capital markets at Credit Suisse Securities (India), assessed that 30% to 40% of existing business models were deeply impacted by the Covid-19 pandemic.
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Union power minister RK Singh said the surging demand also shows the success of Subhagya, under which the Centre provided electricity to the homes of poor(Representative Image/Reuters Photo )
Union power minister RK Singh said the surging demand also shows the success of Subhagya, under which the Centre provided electricity to the homes of poor(Representative Image/Reuters Photo )

India's power demand surges to record high

ANI, New Delhi
PUBLISHED ON JAN 21, 2021 07:08 AM IST
The demand (and supply) of power in January (upto January 19, 2021) has grown by 8 per cent as compared to the corresponding period last year, Union power minister RK Singh said.
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Chairman of Alibaba Group Jack Ma.(AP File Photo )
Chairman of Alibaba Group Jack Ma.(AP File Photo )

Analysis: Jack Ma's reappearance fails to soothe all investor concerns

Reuters, New York/boston
PUBLISHED ON JAN 21, 2021 06:44 AM IST
Uncertainty about Alibaba has hurt the stock, which remains below levels prior to the cancellation of the Ant IPO.
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MSMEs employ about 110 million workers and contribute to about 40% of exports (MSME census, 2006-07), and have a huge role to play in creating quality jobs, improving export competitiveness, and increasing aggregate productivity.(Sunil Ghosh/HT file photo. Representative image)
MSMEs employ about 110 million workers and contribute to about 40% of exports (MSME census, 2006-07), and have a huge role to play in creating quality jobs, improving export competitiveness, and increasing aggregate productivity.(Sunil Ghosh/HT file photo. Representative image)

Need focus on removing obstacles to ‘good’ jobs

By hindustantimes.com
PUBLISHED ON JAN 21, 2021 04:25 AM IST
As businesses struggled to stay afloat, the government announced a number of measures targeted towards the so-called Micro, Small and Medium Enterprises (MSMEs). Many of these measures, part of the Atmanirbhar Bharat Abhiyan package, are aimed at easing financial constraints faced by businesses.
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A better-than-expected start to earnings reporting season also helped lift the market Wednesday.(REUTERS)
A better-than-expected start to earnings reporting season also helped lift the market Wednesday.(REUTERS)

Wall Street hits records as hopes build for more stimulus

AP
UPDATED ON JAN 21, 2021 04:13 AM IST
The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched record highs, powered by gains in technology, communications, health care and most other sectors.
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US stocks are rising again climbing toward records on stronger-than-expected earnings reports and continued optimism that an economic recovery is on the way. (AP)
US stocks are rising again climbing toward records on stronger-than-expected earnings reports and continued optimism that an economic recovery is on the way. (AP)

US stocks near records ahead of Biden inauguration

AP
PUBLISHED ON JAN 20, 2021 08:34 PM IST
Joe Biden will take the oath of office to become US president later in the day, and he has a flurry of executive actions at the ready.
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According to the data, around 6.41 lakh new members joined EPFO in November 2020.(HT Photo)
According to the data, around 6.41 lakh new members joined EPFO in November 2020.(HT Photo)

Latest payroll data says new enrollments to EPFO slips to 10.11 lakh in Nov 2020

PTI, New Delhi
PUBLISHED ON JAN 20, 2021 08:13 PM IST
Provisional payroll data released by the Employees' Provident Fund Organisation (EPFO) last month had shown that net new enrolments were at 11.54 lakh in October 2020.
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Sensex ends at record high of 49,792, Nifty at 14,645(PTI)
Sensex ends at record high of 49,792, Nifty at 14,645(PTI)

Sensex ends at record high of 49,792, Nifty at 14,644

PTI, Mumbai
UPDATED ON JAN 20, 2021 04:22 PM IST
World stocks advanced on Wednesday after US Treasury Secretary nominee Janet Yellen called for a hefty stimulus to protect the US economy.
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Saudi shipments to China in 2020 were rose 1.9% from a year earlier to 84.92 million tonnes. In picture - Saudi Aramco's Ras Tanura oil refinery and oil terminal.(Reuters)
Saudi shipments to China in 2020 were rose 1.9% from a year earlier to 84.92 million tonnes. In picture - Saudi Aramco's Ras Tanura oil refinery and oil terminal.(Reuters)

Saudi Arabia edges past Russia to become China's biggest oil supplier in 2020

Reuters, Beijing/singapore
PUBLISHED ON JAN 20, 2021 03:07 PM IST
Russia was a close second with shipments of 83.57 million tonnes, or 1.67 million bpd, up 7.6% from 2019.
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Tesla shares, which were included in the S&P 500 index this week, have surged eightfold this year ahead of the addition to the benchmark index’s measure.(AP)
Tesla shares, which were included in the S&P 500 index this week, have surged eightfold this year ahead of the addition to the benchmark index’s measure.(AP)

Tesla faces bumpier ride breaking into India after China success

Bloomberg
PUBLISHED ON JAN 20, 2021 02:35 PM IST
PM Modi’s administration is planning to offer about 1.7 trillion rupees in incentives to attract global companies to set up manufacturing, people with knowledge of the matter said in September.
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Amazon Great Republic Day Sale 2021 begins(Reuters image)
Amazon Great Republic Day Sale 2021 begins(Reuters image)

Amazon Great Republic Day Sale 2021 begins: All you need to know

By hindustantimes.com | Edited by Karan Manral
UPDATED ON JAN 20, 2021 11:10 AM IST
Here's everything you need to know about Amazon’s latest offering to its customers.
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The assault on Ma’s trillion-dollar corporate empire encapsulates a broader campaign to rein in a generation of Chinese tech giants that Beijing now views as wielding too much control over the world’s No. 2 economy.(AP file photo)
The assault on Ma’s trillion-dollar corporate empire encapsulates a broader campaign to rein in a generation of Chinese tech giants that Beijing now views as wielding too much control over the world’s No. 2 economy.(AP file photo)

Jack Ma emerges for first time since crackdown on Ant, Alibaba

Bloomberg
UPDATED ON JAN 20, 2021 12:07 PM IST
China’s most recognizable entrepreneur addressed scores of teachers on an online conference Wednesday, part of an annual event the billionaire hosts to recognize the achievements of rural educators.
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After opening on a negative note, the 30-share BSE Sensex was up by 17.84 points or 0.04 per cent at 47,764.06 in morning session.(PTI)
After opening on a negative note, the 30-share BSE Sensex was up by 17.84 points or 0.04 per cent at 47,764.06 in morning session.(PTI)

Sensex rallies over 170 points in early trade; Nifty tops 14,590

PTI
UPDATED ON JAN 20, 2021 10:01 AM IST
Analysts said Indian stocks took cues from global equities which rose to record highs after US Treasury Secretary nominee Janet Yellen called for a hefty fiscal relief package.
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The price range for the IPO has been fixed at <span class='webrupee'>₹</span>25-26 per share.(Representative photo.)
The price range for the IPO has been fixed at 25-26 per share.(Representative photo.)

IRFC IPO closes today, was oversubscribed 1.22 times on Tuesday

By hindustantimes.com | Edited by Amit Chaturvedi
PUBLISHED ON JAN 20, 2021 08:07 AM IST
The IRFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.
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A bankrupt company and its assets cannot face criminal proceedings once it is sold to new owners," the apex court said.(Biplov Bhuyan/HT File Photo)
A bankrupt company and its assets cannot face criminal proceedings once it is sold to new owners," the apex court said.(Biplov Bhuyan/HT File Photo)

Supreme Court upholds laws protecting new owners of bankrupt companies

ANI, New Delhi
PUBLISHED ON JAN 20, 2021 07:58 AM IST
The top court upheld the Section 32A of the Insolvency and Bankruptcy Code (IBC) granting statutory immunity to successful resolution applicant from prosecution.
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Siddhartha Mohanty will replace TC Susheel Kumar as the managing director of Life Insurance Corp (Ramesh Pathania/Mint.)
Siddhartha Mohanty will replace TC Susheel Kumar as the managing director of Life Insurance Corp (Ramesh Pathania/Mint.)

Siddhartha Mohanty appointed as new LIC MD

By Gopika Gopakumar, Mumbai
PUBLISHED ON JAN 20, 2021 04:48 AM IST
In a notification issued on Tuesday, the appointments committee of the cabinet (ACC) has approved the appointment of Siddhartha Mohanty till his superannuation on June 30, 2023.
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Joe Biden has already outlined a $1.9 trillion stimulus package proposal last week, saying bold investments were needed to jump-start the US economy.(Reuters)
Joe Biden has already outlined a $1.9 trillion stimulus package proposal last week, saying bold investments were needed to jump-start the US economy.(Reuters)

Hopes of new US stimulus, liquidity drive up markets

By Nasrin Sultana, Mumbai
PUBLISHED ON JAN 20, 2021 04:37 AM IST
Shares across global markets climbed on Tuesday ahead of Janet Yellen’s confirmation speech as US Treasury secretary. Yellen is expected to tell the senate finance committee that the government must “act big” with its next coronavirus relief package.
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In the public sector, major areas of new spending were roads, water supply, community services, and irrigation
In the public sector, major areas of new spending were roads, water supply, community services, and irrigation

Govt’s infra push drives up project tenders in Q3

By Tanya Thomas, Mumbai
UPDATED ON JAN 20, 2021 06:10 AM IST
Rising spending on productive assets such as roads, ports and factories support economic growth but the slow pace of growth in the December quarter indicates that recovery may still be on shaky ground and state governments have not fully recovered from the economic disruption caused by the pandemic.
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Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)
Petrol and diesel became costlier by 25 paise per litre on Tuesday in the Capital(Reuters)

Govt may not reduce excise duty on fuel soon: Official

By Rajeev Jayaswal, New Delhi
PUBLISHED ON JAN 20, 2021 12:21 AM IST
The retail inflation, as measured by the Consumer Price Index (CPI), was at a 77-month high at 7.6% in October. Although it softened a bit to 6.9% in November, it was still above the Reserve Bank of India’s medium-term target of 4%, with a band of plus or minus 2%.
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Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)
Investment bankers and traders have carried the load for their firms this year as consumer divisions came under pressure from the Covid-19 outbreak that shut down businesses and put millions out of work.(REUTERS)

Bank of America’s trading unit falls short of rivals during bumper year

Bloomberg
PUBLISHED ON JAN 19, 2021 08:03 PM IST
Revenue from sales and trading rose 7% to $3.06 billion in the fourth quarter, missing analysts’ $3.15 billion forecast.
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