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Tuesday, July 7, 2020

BUSINESS

AAI issues SOP for domestic flights’ resumption; Aarogya Setu not mandatory for children below 14

NEW DELHI: The Airports Authority of India (AAI) issued a standard operating procedure (SOP) to airport operators on Wednesday for recommencement of domestic flights from May 25 onwards, saying Aarogya Setu app is not mandatory for children below 14 years of age. "Passengers shall compulsorily walk through screening zone for thermal screening at a designated…

Franklin Templeton appoints Kotak Mahindra Bank to assist in monetising assets of 6 wind-up funds

NEW DELHI: Franklin Templeton Trustee Services has appointed Kotak Mahindra Bank to work together with Franklin Templeton Asset Management (India) to assist the trustees in monetising portfolios of the six schemes that are being wound up. Kotak Mahindra Bank, through its debt capital markets team, will work closely with the Franklin Templeton Trustees, to assist…

Cabinet approves Rs 3 lakh crore emergency credit line for MSME; loans at 9.25% rate

NEW DELHI: The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive…

Foreign investors pull out $26 billion from Asian economies; $16 billion from India

WASHINGTON: Amidst the global economic recession due to the coronavirus pandemic, foreign investors have pulled out an estimated $26 billion from developing Asian economies and over $16 billion out of India, according to a Congressional report. “Foreign investors have pulled an estimated $26 billion out of developing Asian economies and more than $16 billion out…

German footwear maker to shift production to India from China

NEW DELHI: Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd. A new manufacturing…

Government implements cut in EPF contribution to 10% for May, June, July

NEW DELHI: The ministry of labour & employment has implemented the decision to cut employees' provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July. This would increase 4.3 crore organised sector employees' take home pay and reduce the liability of 6.5 lakh employees reeling under…

Airtel Q4 loss at Rs 5,237 crore; ARPU improves on tariff hikes

NEW DELHI: Bharti Airtel on Monday reported a net loss of Rs 5,237 crore in the quarter ended March 31, 2020, as stiff competition from Reliance Jio and inclusion of certain 'exceptional items' kept the company deep in the red. The Sunil Mittal-run company, however, said that revenues in the period were up 15% at…

Goldman sees worst India recession with 45% second quarter slump

The government has extended its nationwide lockdown until May 31, while further easing restrictions in certain...Read MoreNEW DELHI: Goldman Sachs expects India will experience its deepest recession ever after a poor run of data underscored the damaging economic impact of lockdowns in the world’s second-most populous nation. Gross domestic product (GDP) will contract by an…

Paying loans, EMIs? This good moratorium news may come soon

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Permanent work from home damaging for workers’ well-being: Satya Nadella

SAN FRANCISCO: As certain tech companies like Twitter prefer their employees to work from home forever, Microsoft CEO Satya Nadella has warned that making remote work permanent could have serious consequences for social interaction and mental health for workers as virtual video calls cannot replace in-person meetings. Nadella said that an all-remote setup would be…

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This is what Abhishek Bachchan has to say when asked about working with his wife Aishwarya Rai Bachchan again

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