2020 could see worst global economic fallout since Great Depression: IMF
Following the outbreak of the COVID-19 pandemic, which has claimed thousands of lives around the world, International Monetary Fund (IMF) Managing Director Kristalina Georgieva Thursday said that due to the pandemic, the year 2020 could see the worst global economic fallout since the Great Depression in the 1930s with over 170 countries likely to experience negative per […]
India’s fuel consumption shrank by 18% in March, biggest decline in over a decade
India’s fuel consumption in March shrank by 18 per cent, the biggest decline in more than a decade, as a nationwide lockdown halted economic activity and travel. India’s petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March as diesel, petrol and aviation turbine fuel (ATF) demand fell, according to official data […]
iPhone maker to manufacture ventilators in US
Foxconn, the company responsible for assembling most of the world’s Apple Inc. iPhones, will aid the fight against the coronavirus pandemic by developing and making ventilators in the U.S. The Wisconsin plant owned by Foxconn, also known as Hon Hai Precision Industry Co., will be used to manufacture ventilators, Medtronic Plc Chief Executive Officer Omar Ishrak told […]
Hiring declines 18% in March, Delhi-NCR worst in job market
Overall hiring activity in India declined by 18 per cent in March, with travel and airlines, hospitality and retail industries witnessing a massive 56 per cent drop in offering jobs as compared to March last year, leading job portal Naukri.com said on Tuesday. The retail sector saw 50 per cent drop in hiring, followed by […]
Coronavirus impact: Mukesh Ambani’s net worth drops 28% to $48 billion in two months
The net worth of India’s richest man Mukesh Ambani dropped 28 per cent or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his […]
How Drop In Crude Oil Price Due To Coronavirus Pandemic Benefits India
Coronavirus has created havoc in the stock markets across the world. It has impacted adversely the movement of people from one place to another. However, one good thing that has happened is these travel restrictions (both by air and by road) have led to a drastic fall in demand for crude oil across the globe. […]
Amazon working on a new game streaming platform: Report
San Francisco: Amazon is reportedly working on a full-fledged cloud gaming platform under the code name Project Tempo, similar to Google’s Stadia and Nvidia’s GeForce Now. The retail giant has been working on a game called Crucible ever since 2014 and along with that game, the company is going to bring another game called New World, which will be […]
India Inc awaits fiscal push from Centre to keep afloat
As businesses around the country reel under the impact of the Covid-19 pandemic and the lockdown it has necessitated, business owners, executives and experts are looking to the government to do enough to keep companies afloat and healthy and, more importantly, to ensure that they do not engage in mass retrenchments. The government has hinted […]
New direct tax regime kicks in from today
NEW DELHI : Big changes in India’s direct tax regime will come into force on Wednesday, covering a host of stakeholders, including non-resident Indians (NRIs), company shareholders, digital firms and individual income taxpayers, with provisions of the Finance Act taking effect on 1 April. One of the key changes that take effect applies to non-residents. NRIs […]
Coronavirus: Oil prices rise on hopes of a price war truce
Global oil prices have risen after Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their price war. The cost of crude had fallen to 18-year lows as the two countries slashed prices and ramped up production. At the same time demand has been hit hard by shutdowns […]