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Tuesday, September 22, 2020

BUSINESS

Investor wealth surges by Rs 2 lakh crore as markets rally

NEW DELHI: Investor wealth surged by Rs 2,01,549.38 crore on Wednesday following a rally in the broader market. The 30-share BSE sensex settled 995.92 points or 3.25 per cent higher at 31,605.22. During the day, it gained 1,051.3 points to 31,660.60. Led by the rally in equity market, the market capitalisation of BSE-listed companies soared…

Four recruitment firms join hands to help India Inc return to work

MUMBAI: Four global HR services companies -- Randstad, The Adecco Group, ManpowerGroup and Gi Group -- have formed an alliance to “help India get back to work safely”. In this non-commercial alliance, the four organizations combine their knowledge and strengths to jointly tackle the key challenges facing the labour market following the COVID-19 pandemic. According…

Cognizant will ask 400 more executives to leave

BENGALURU: The churn at Cognizant will continue. Around 400 executives holding the title of directors, senior directors, associate vice-presidents (AVPs), VPs and SVPs, would be asked to leave the firm, sources said. This, they said, would be done in a staggered manner. Two years ago, Cognizant laid off about 200 senior employees at the director…

RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in India | Regulation

India’s central bank, the Reserve Bank of India (RBI), has confirmed that there is no longer any banking ban on crypto exchanges, companies, or traders. This follows the supreme court decision to quash the RBI circular prohibiting banks from providing services to any customers dealing in cryptocurrencies. The ban lasted for almost two years.RBI Finally…

India looks to store cheap oil in United States: Dharmendra Pradhan

NEW DELHI: India is looking at storing some low priced US oil in facilities there as its local storage is full, oil minister Dharmendra Pradhan said. India’s plan could be similar to a move by Australia, which last month said it would build up an emergency oil stockpile initially by buying crude to store in…

LIC launches modified PMVVY pension scheme, to be available for sale from Tuesday

Representational Image. MUMBAI: National insurer LIC on Monday said the modified centrally-subsidised pension scheme, PM Vaya Vandana Yojana (PMVVY), for those over 60 years of age will be available for sale from Tuesday. The government introduced the PMVVY (modified-2020), with the modified rate of pension for those over 60 years and above, and LIC is…

Govt pushes PSU banks to provide cheaper loans to small businesses

The govt is pushing public sector banks to ease lending rates to small scale industries (Representative image)NEW DELHI: The government is pushing public sector banks to provide additional working capital to small businesses at 7.5% interest under the loan guarantee scheme that proposes to provide up to Rs 3 lakh crore, while also asking them…

Pradhan sees fuel demand reaching pre-Corona level next month as India gets back to work

NEW DELHI: India has regained 65% of its appetite for fuel and demand will reach nearly pre-pandemic levels next month as economic activities pick up pace after the government’s announcement of a stimulus package and staggered easing of Corona restrictions, oil minister Dharmendra Pradhan told TOI on Saturday. “The world has seen an unprecedented erosion…

Air travel bookings open, not too many takers on day one

MUMBAI: Day one of opening of domestic air travel bookings from May 25 saw a tepid response from passengers, and tickets for most routes were available throughout the day at reasonable fares. The fares are capped and so there won’t be any exorbitantly high rates for the next three months till August 24. But, it…

How one Indian company could be world’s door to a Covid-19 vaccine

PUNE: If the world is to gain access to a vaccine for Covid-19, there's a good chance it will pass through the doors of Serum Institute of India. Serum Institute, the world's largest manufacturer of vaccines by volume, is working on several candidates for the novel coronavirus - including potentially mass-producing the AstraZeneca/Oxford university one…

Latest News

As the U.S. hits 200,000 COVID-19 deaths, Trump tells an Ohio rally the coronavirus 'affects virtually nobody'

The U.S. passed yet another "grim milestone" in its COVID-19 pandemic Monday night, Reuters notes, with at least 200,000 Americans dead from the new coronavirus and an average of nearly 1,000 more dying each day. As "the country blew past estimate after estimate" of COVID-19 deaths, Politico's pandemic newsletter said Monday night, "the term 'grim…

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