Saturday, June 06, 2020


Masks, social distancing and no large gatherings: SOPs for malls

NEW DELHI:With malls being allowed to open from next week, the Union Health and Family Welfare Ministry on Thursday issued the SOP on preventive measures there to contain spread of Covid-19, saying only asymptomatic customers will be allowed with masks and entrances will have sanitiser dispensers and thermal screening.

Business correspondents seek financial support, insurance cover

NEW DELHI:The Business Correspondents Federation of India has sought financial support from the Centre amid the COVID-19 crisis.
During a recent webinar, it has demanded Rs 5,000 per month per business correspondent from the Central government with effect from April 2020, along with health and life insurance cover for their uninterrupted services during the inconvenient times and most uncertain times for the next six months.

ReNew Power commits INR 20 Cr. in fight against COVID-19

BHOPAL: ReNew Power today announced that it will contribute to the central and state governments’ efforts to combat the COVID-19 pandemic in India. ReNew is initially committing Rs.20 Cr. to this initiative. Out of this, Rs. 10 Cr. will be contributed to the PM CARES fund, and Rs. 5 Cr. will go towards the Chief Minister’s relief fund in various states. The rest will be spent on several activities targeted to directly help communities impacted by the lockdown and to bolster the health infrastructure to tackle the pandemic.

Salve advocates land law reforms to boost investment

NEW DELHI:Senior advocate Harish Salve has said India's land laws should be reformed and have more clarity.
Addressing a webinar organised by realty body CREDAI on Wednesday, he said public policies must be stable and less susceptible to politics. The Indian land acquisition laws, he said were one of the most regressive sets of laws, which the government must reconsider.

Govt transfers Rs 53,000 Cr under PMGKP till June 2

NEW DELHI:Around 42 crore beneficiaries have been directly given cash support through Direct Benefit Transfer (DBT) amounting to Rs 53,248 crores under the Pradhan Mantri Garib Kalyan Package (PMGKP) till June 2, the Finance Ministry said in a statement on Wednesday.

10,000 restaurants sign up for new contactless dining suite

NEW DELHI: As restaurants prepare to resume operation in Unlock 1.0, over 10,000 restaurants, casual dining or quick-service chains including Subway, Hard Rock Cafe, Mad Over Donuts, Mainland China and The Great Kabab Factory among others, have partnered with Dineout app to provide contactless and safe dining-out experience to their customers.

Japanese business panel to visit UP in November

LUCKNOW:A delegation of Japanese business and industrial representatives have sought time from the Yogi Adityanath government to visit Uttar Pradesh in November this year to assess the possibility of starting projects here.

Will land based casinos survive corona lockdown?

Coronavirus has put all industries to a tough position. Land based casinos are no different, although one may consider them having almost endless money supply to support themselves throughout this period. Although no one is sure what is going to happen to land based casinos, some factors are ought to be crucial in terms of survival.

Apple could achieve $2 trillion market cap in 4 years: Report

SAN FRANCISCO:Riding on its growing services and wearables business, Apple may become the first company ever to touch the $2-trillion valuation mark in next four years, a top analyst has forecast.

Entities with up to Rs 250 cr turnover, excluding exports, to be medium enterprises

NEW DELHI: Further widening the definition of micro, small and medium enterprises (MSME), the Union Cabinet on Monday announced that entities with turnover up to Rs 250 crore or investment up to Rs 50 crore will qualify as medium enterprises.

Non-subsidised LPG rate hiked, aviation fuel ups by Rs 11,000/kl

 NEW DELHI:Oil marketing companies have hiked the prices of non-subsidised cooking gas and aviation turbine fuel with effect from Monday.
The price of the 14.2 kilogram cylinder of non-subsidised LPG gas in Delhi has been raised by Rs 11.50 from May to Rs 593 per cylinder.

Fuel prices hike by Rs 2/L in Mumbai

MUMBAI:Petrol and Diesel prices in the economic capital of the country have been increased by Rs 2 per litre on Monday. Now, petrol will cost Rs 78.32 per litre to Mumbaikars while diesel will be available at Rs 68.21 in the city.

Punjab CM invites companies looking to leave China, says huge opportunities await them

CHANDIGARH: days, pointing to the huge opportunity they had to grow in view of the increasing number of companies looking to shift from China.

India oil import bill falls 10% to $101 bn in FY20

NEW DELHI:At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country's advantage.
India's oil import bill has fallen close to 10 per cent in FY20 as the increasing spread of coronavirus and demand squeeze globally has depressed the crude oil prices to about 30 a barrel now against a high of over $ 70 a barrel in September and again in January this year.

India-based firms spoofing WHO to hack global business leaders: Google

SAN FRANCISCO:Several India-based firms are spoofing the World Health Organisation (WHO) by creating fake Gmail accounts and luring business leaders in disguise of informing them of latest Covid-19 announcements and hack their personal and financial information, Google has warned.

Haryana firm, 3 directors booked over Rs 100 cr loss to SBI

NEW DELHI:The Central Bureau of Investigation (CBI), here on Wednesday, said it had registered a fresh case against Haryana-based Shakti Basmati Rice and its three directors for allegedly causing over Rs 100 crore loss to the State Bank of India (SBI).

Sensex up 995 points as banking, finance stocks soar

MUMBAI:The Indian equity markets surged on Wednesday after a choppy initial trade with the BSE Sensex closing 995 points higher at 31,605.22 on the back of healthy buying in banking and finance stocks.
The Nifty50 rose 285.90 points or 3.17 per cent to close at 9,314.95.

NCLT approves IL&FS stake sale in GIFT City to Guj Govt

NEW DELHI:The Principal Bench of National Company Law Tribunal (NCLT) has approved the stake sale of IL&FS in Gujarat International Finance Tec-City Company Limited (GIFTCL) to the Government of Gujarat.
The crisis-ridden IL&FS holds 50 per cent stake in GIFTCL. Notwithstanding the liability of GIFTCL, the Gujarat Government has agreed to pay positive equity value of 100 per cent of the IL&FS stake in GIFTCL, by which, the positive equity value of over Rs 32.70 crore will come to IL&FS.

Google to reopen offices from July 6, gives workers $1,000 each

SAN FRANCISCO:Google has set July 6 the date for its employees to return to office in a gradual, phased manner and has announced to give $1,000 (around Rs 75,000) to each of its workers globally for expenses on necessary equipment and office furniture as they work from home.

Markets open on positive note

MUMBAI:The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note.
The Sensex of the BSE opened at 30,793.11 points and touched a high of 30,825.18 points. The Sensex touched a low of 30,643.41 points.

37% Indian women never bought gold jewellery, but want to'

NEW DELHI:A World Gold Council (WGC) report on Wednesday said that there is an ample scope for retail demand of gold jewellery in the country as around 37 per cent of Indian women have never bought gold but would consider purchasing in the future.

The COVID-19 Pandemic Impact On Various Insurance Plans

Financial advisers have been expecting an increase in the demand for health insurance plans, keeping the current coronavirus pandemic in mind. Yet there are no ways of measuring the impact this disease might have on the premium rates for specialized medical plans.

Google wins prestigious US govt Cloud project

SAN FRANCISCO:Google which was dropped out of the $10 billion Pentagon Cloud project which was eventually won by Microsoft in a bitter fight with Amazon Web Services (AWS), has bagged a Cloud project with the US Department of Defense (DoD).

Amid COVID19, Young Entrepreneurs Decide To Be ‘Atmanirbhar’

MUMBAI: At a time when businesses are witnessing downfall and scores of people are losing their jobs due to global pandemic Corona Virus, popularly known as COVID-19, a team of young entrepreneurs are all set to launch their own Public Relations and content platform called Connect360, to help brands tell their stories.

Disney's streaming chief appointed as TikTok CEO

SAN FRANCISCO:Long-time Disneys head of streaming Kevin Mayer is going to be the CEO of short-video making platform TikTok and chief operating officer of ByteDance which is the owner of TikTok.

SC seeks RBI, Centre's reply on CREDAI plea for clarity on loan moratorium

NEW DELHI:The Supreme Court on Friday issued notices to Centre and the RBI on a plea filed by the Confederation of Real Estate Developers' Associations of India (CREDAI) seeking clarification whether real estate firms are eligible for loan moratorium.

Mallya pleads Indian govt to accept loan repayment, close case

NEW DELHI:Fugitive Indian businessman Vijay Mallya again urged the central government on Thursday to unconditionally accept his offer of bank loan repayment and close the case against him.

TDS/TCS rate cut by 25% to let Rs 50,000 cr in taxpayers' hands

NEW DELHI:To provide more money into the taxpayers' hands, the government, here on Wednesday, reduced the TDS (tax deduction at source) rates for non-salaried specified payments made to residents, and the TCS (tax collection at source) rates by 25 per cent for the specified receipts.

Should You Invest in SIP Amidst COVID-19 Pandemic?

Coronavirus, also known asCOVID-19, has made a global impact, and its ripples can be felt on the Indian economy. Mutual fund investors are fighting their battle against the strong, disruptive force of this global pandemic. The current meltdown of the Indian market on account of Coronavirus outbreak is making investors think twice about their investment strategies. But as the old saying goes, ‘every cloud has a silver lining,’There are also many investment lessonsthat we can take from these uncertain times. 

India’s Digital Revolution and the State of Online Gaming

Tax now forms 70% of petrol, diesel prices

NEW DELHI:The Tuesday evening decision of the Government to raise excise duty levels on petrol and diesel by historic high levels has taken up tax component on retail price of auto fuels closer to 70 per cent level.

Shopkeepers confused over re-opening, CAIT complains of police hindrance

NEW DELHI:Retail shops and stores in the country were scheduled to reopen on Monday with the government's relaxation guidelines coming into effect, but, on the ground, there was utter confusion among retailers regarding resumption of business activities.

Why Estimating EMI is Essential Before Taking Home Loan?

You can explore the best of places in the world, but you won’t find a place as comforting and sweet as your home. After all, it’s that place where your family creates and sharesmany moments. While a home is a home, whether you live in a flat, an apartment or a villa, what matters is whether you own it or you’ve taken it on rent. Those living on rent aspire to buy a house to be free from the burden of paying rent each month.

RBI employees donate Rs 7.3 cr to PM-CARES Fund

MUMBAI: Coming forward to help a noble cause, employees of the Reserve Bank of India (RBI) have donated a total of Rs 7.30 crore to the PM-CARES Fund, an official said here on Tuesday.

How to choose debt funds

Debt funds are ideal for those investors that are looking for a regular income stream but unwilling for risks. Being less volatile, debt funds assure returns on investment, but not as much as mid and small-cap mutual equity funds. So debt mutual funds are a preferred alternative to fixed deposits given the assured returns, exposure to lower market variables hence lower risk, tax efficiency, and safety of capital.

M'rashtra's 1.40 mn traders raring to do business

MUMBAI: Over 1.40 million shops and establishments in Maharashtra are raring to get down to business after the Centre has relaxed the norms, a top official said here on Saturday.

Texas businesses partially reopen

HOUSTON:Retail businesses in the US state of Texas have reopened for the first time in weeks, as a slow reopening process have started amid the COVID-19 pandemic.

India's Largest Study to Understand the Impact of the Pandemic on Industry Launched by IET

BENGALURU: As India completes close to a month of lockdown major challenges across industries – both at individual and enterprise levels are now becoming clearer.

ISHRAE's COVID-19 Task Force guidelines to prevent spread of Virus in residential, commercial and hospital buildings

NEW DELHI: The Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE) on Monday said it had set up a “COVID-19 Task Force” comprising of “Thought Leaders & Experts”, from among its members, to help carve out guidelines as an aid to the humanity, at large and to help fight the pandemic in the buildings and complexes, in particular. For over a month now, the task force mapped thorough studies and rolled out the guidelines for safe use of HVAC (heating, ventilation and air conditioning) systems in the residential houses, commercial buildings and hospitals on 13 Apr 20.

A bank that keeps ashes of the dead for immersion later

KANPUR:It is a bank with a difference and its lockers do not contain precious jewels or documents.