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October 15, 2020 8:34 AM
The International Monetary Fund (IMF) has revised its estimate to a somewhat less severe recession than it predicted in June. From contraction of 5.2 per cent, the latest IMF report revised its prediction saying global growth to contract to 4.4 per cent this year. IMF Chief Economist Gita Gopinath w...
October 14, 2020 10:00 PM
The Cabinet Committee on Economic Affairs has given ex facto approval to Rs. 3,874 crore spending on stocking low priced oil in India's three strategic underground crude oil storages. It also allowed Abu Dhabi National Oil Co, which has hired a part of the strategic storage, to trade the ...
October 14, 2020 6:27 PM
The Cabinet Committee on Economic Affairs has given its in-principle approval to the demerger of Nagarnar Steel Plant (NSP) from National Minerals Development Corporation (NMDC) Limited and strategic disinvestment of the demerged company (NSP) by selling entire Government of India stake in it to a s...
October 13, 2020 6:46 PM
Oil prices today rebounded amid robust Chinese economic data although concerns about waning demand and supply resumptions in Norway, the Gulf of Mexico and Libya weighed on the crude prices. In intra-day trade, Brent crude prices were trading around 42 dollars and 30 cents per barrel while WTI crude...
October 13, 2020 1:31 PM
The multi-national food and beverage major PepsiCo is setting up a greenfield potato chips production unit in Uttar Pradesh with an investment of Rs. 814 crore. The unit is being set up in Kosi - Mathura on 35 acres of land provided by UP State Industrial Development Authority (UPSIDA). The unit...
October 13, 2020 10:32 AM
Reserve Bank of India has reallocated portfolios of deputy governors, with the department of regulation entrusted to the newly-appointed M Rajeshwar Rao. Mr Rao was executive director of the Reserve Bank before being elevated to the post of deputy governor. He took the new charge last week. B...
October 13, 2020 8:14 AM
Finance Minister Nirmala Sitharaman has said that the Centre will facilitate borrowings for the States which want to go ahead with its proposed borrowing options against the future GST collections. The move which aims at compensating the States for their GST revenue shortfall amid the global pande...
October 12, 2020 9:38 PM
October 12, 2020 8:24 PM
October 11, 2020 5:15 PM
Foreign funds have invested a net of Rs. 1,086 crore in the domestic capital markets, so far in October. According to the depositories data, foreign investors pumped-in a net of Rs. 5,245 crore into equities; but withdrew Rs. 4,159 crore from the debt market, between October 1 and 9. This translate...
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