The contraction of the Indian economy eased off in the three months to September amid signs of a pick up in manufacturing, and economists expect a steady recovery next year if progress on coronavirus vaccines feeds consumer demand.
HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business, the Financial Times reported on Saturday.
Increase in foreign direct investment (FDI) into India in July-September 2020 to $28.1 billion indicates global investors' preference for the country's enabling environment, commerce and industry minister Piyush Goyal said on Saturday.
The CBI on Saturday started a massive search operation at 45 locations across four states after registering a case against an alleged coal pilferer who acted in collusion with two general managers and three security personnel of the Eastern Coalfields Ltd (ECL), officials said.
Petrol price on Saturday crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days. Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a vaccine development led to a rally in international oil prices.
Prime Minister Narendra Modi on Saturday visited Zydus Biotech Park of pharma major Zydus Cadila in Ahmedabad to review the vaccine development. The visit is the first of PM Modi's three-city tour to personally review the vaccine development and manufacturing process in the country.
A deadly heat wave could burn the economy. In just another decade, India would be among the first places where extreme heat would make working outdoors dangerous, says a report released by global management consulting firm McKinsey.
Shareholders of Lakshmi Vilas Bank (LVB) drew some consolation on Friday at the Madras high court. The HC refused to stay LVBs merger with DSB Bank India (DBIL), but directed DBIL not to take any further actions prejudicial to LVB shareholders.
The economist listed out a host of factors for his cautiously optimistic outlook and said that the sustainability of the recovery process depended on the spread of Covid-19, and added that some sectors, particularly services, will remain impacted till the highly contagious infection does not go away and people observe social-distancing protocols.
From June 1, no non-BIS two-wheeler helmet can be manufactured or sold in the country and any violation of this would be treated as an offence. The road transport ministry on Thursday notified the quality control order for two-wheeler helmets to ensure that only safe headgears, which are also termed as helmet vaccine for head injuries, are made and sold in India.
Confederation of All India Traders (CAIT) said it is highly dejected with the penalty of Rs 25,000 levied on Amazon India by the ministry of consumer affairs, and called for exemplary punishment for sending out a clear message to foreign e-commerce players disobeying the law of the land.
Non-food credit growth decelerated to 5.6 per cent in October 2020 compared to a growth of 8.3 per cent in the same month of the previous year, RBI data showed. Growth in loans to agriculture and allied activities accelerated to 7.4 per cent in the reporting month from a growth of 7.1 per cent last year, the data on Sectoral Deployment of Bank Credit - September 2020, released by the Reserve Bank of India, showed.
Jeff Bezos and Mukesh Ambani, two of the worlds richest men, face a turning point in a battle for pre-eminence in Indias booming, nearly trillion-dollar retail market. The outcome of a legal dispute which has embroiled the billionaires Amazon.com and Reliance Industries Ltd empires - where a court ruling is imminent - may shape Indias retail landscape for years to come.
With England relaxing quarantine norms for overseas visitors from some countries, including India, from December 15, Vistara will starting flights thrice-weekly on Mumbai-London Heathrow (LHR) route from January 16, 2021. In all, Vistara will at that time have six weekly flight to LHR thee each from Delhi and Mumbai.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit.
Chief economic adviser (CEA) K V Subramanian on Friday said there is an upside potential in the estimates about the economy during the current financial year as recovery is taking faster than expected.
India's gross domestic product (GDP) for the second quarter ended September 30 contracted by 7.5 per cent, government data showed on Friday. However, this pace of contraction is considerably slower than the slump of 23.9 per cent in the previous quarter.
India's e-commerce festive sale season from October 15-November 15 this year delivered $8.3 billion (about Rs 58,000 crore) worth of gross sales for brands and sellers, up 65 per cent from $5 billion (Rs 35,000 crore) last year, research firm RedSeer said on Friday.
The Union road transport and highways ministry on Friday issued fresh guidelines for cab aggregators (such as Ola and Uber) to bring them under a regulatory framework. According to the new guidelines, surge price by cab aggregators should not be more than 1.5 times and they can't offer discounts that is more than 50 per cent of the base fare.
Mobility restrictions due to the coronavirus and emergence of trends around home/remote office, education and entertainment have decluttered Indian cities that have seen a sharp reduction in travel in the months since the lockdown.
Demand for new credit cards has fully recovered and monthly applications in October have exceeded levels in the same month of the previous year. According to credit information company TransUnion Cibil, last month saw inquiries that were 106% of the queries in October 2019.
Universal access to electricity, the governments commitment and conviction to fight climate change along with plans to rapidly expand renewable energy capacity will generate business prospects worth $20 billion, or Rs 1.5 lakh crore, every year, prime minister Narendra Modi said on Wednesday urging investors to join Indias renewable energy programme.
A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date of merger notified by the Reserve Bank of India (RBI) on Wednesday, LVB will lose its identity on Friday as it amalgamates with DBS Bank India Ltd.
Niti Aayog CEO Amitabh Kant on Thursday said digital infrastructure has become indispensable to the functioning of society and India can create $1 trillion of economic value using digital technology by 2025.
While 70% of HR executives believe that the sector needs to be redefined through HR 3.0 which deals with personalisaiton, skills and data-driven decision making only 10% companies have achieved it globally, says a study by IBM along with Josh Bersin Academy.
India, he said, is uniquely positioned to move ahead in this era as the governments Digital India mission has ceased to be another regular initiative but a way of life that has impacted people directly. He referred to the direct benefit transfer scheme, the rapid growth of online payments, and Ayushman Bharat.
Tech giant Google saw its India revenues grow 34.8 per cent to about Rs 5,593.8 crore in 2019-20 over the previous financial year, as per regulatory documents. Google India's total income was at Rs 4,147 crore in the financial year ended March 31, 2019, according to Registrar of Companies filing shared by market intelligence firm Tofler.
Flipkart Wholesale on Thursday said it is in final stages of consolidating Walmart India within its operations, and has extended offers to all employees of Walmart India's home office to join the digital business-to-business (B2B) marketplace.
Veteran industrialist Ratan Tata, who headed Tata group and whose iconic hotel in Mumbai was one of the sites of the 26/11 terror attacks, on Thursday penned a heartfelt tribute saying the wanton destruction that took place 12 years ago will never be forgotten. The wanton destruction that took place 12 years ago today will never be forgotten, he wrote.
Air India is a one-time free rescheduling offer to its passengers who could not reach Delhi airport on Thursday to catch their flights, due to closure of the capital's border in wake of the farmers' protest march.
Indias fast moving consumer goods (FMCG) industry displayed signs of recovery in the third quarter of 2020 with a 1.6% growth (versus Q3 19), after an unprecedented decline of -19% in the January-March (Q120) quarter.
Equity indices finished higher on Thursday with the benchmark BSE sensex rising over 400 points led by gains in metal and banking stocks amid sustained foreign fund inflows. The 30-share BSE index surged 432 points or 0.98 per cent to close at 44,260; while the broader NSE Nifty settled 129 points or 1 per cent higher at 12,987.
Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India governor Shaktikanta Das on Thursday. Addressing the 4th Annual Day of Foreign Exchange Dealers' Association of India (FEDAI), he cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction in GDP by 23.9 per cent in Q1FY21.