Sensex opened 457 points higher despite coronavirus continuing to affect businesses and investments across global markets. Nifty has also opened 1% higher as global benchmarks continued amidst volatile trading. Rupee has opened 22 paise higher. It is currently at Rs 74.77 versus the US dollar. It closed 22 paise lower […]
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EPFO may struggle to meet 8.5% interest rate commitment amid market bloodbath
The Employees’ Provident Fund Organisation (EPFO), the retirement savings manager, may fail to keep its commitment to pay an 8.5% return to its 60 million subscribers in 2019-20 because of the bloodbath on the stock market sparked by investor worries over the impact of the novel coronavirus. EPFO could not […]
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In historic first, Ferrari to present its ‘pure blood’ SUV with speed genetics
When Enzo Ferrari launched the Italian luxury carmaker back in 1939, he could have never thought that his sports cars will have an SUV variant. As recently as 2016, former Ferrari boss Sergio Marchionne had said, “You have to shoot me first.” But the world has moved beyond their times. And […]
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Google appoints Karan Bajwa to lead its Cloud business in India
Google on Wednesday appointed long-time industry veteran Karan Bajwa as Managing Director of Google Cloud in India. A senior leader with over three decades of leadership experience, Bajwa will be responsible for driving all revenue and go-to-market operations for Google Cloud’s extensive solution portfolio that includes Google Cloud Platform and G […]
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HCL employee in Noida tests positive for Covid-19, cases in UP reach 19
Another case of coronavirus positive case – an employee at HCL Technologies – emerged in Uttar Pradesh on Thursday, taking the total number of cases in the state to 17. “One employee from our Noida office has tested positive for coronavirus while he was in self-isolation after his return from international travel. […]
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Sensex down 1000 points at 29,000, Nifty trades at 8,700
The equity indices on Wednesday erased early gains extending the sell-off as global markets failed to hold on to gains and resumed their downward spiral amid coronavirus fears. The BSE Sensex plunged over 1000 points and the broader NSE Nifty 50 was down over 200 points. At 12:40 pm, Sensex […]
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2021 Hyundai Elantra sedan launched, to take on Toyota Corolla Altis
In 2019, the Hyundai Elantra was given a ‘controversial’ facelift model, but on Tuesday (local time), the Korean automaker officially introduced a completely new model of the popular sedan in the United States. Touted as the ‘daily four-door coupe’ model, the latest Hyundai Elantra (also referred to as the Hyundai i30 Sedan in some markets such as Australia) adopted the company’s latest design language ‘Sensuous Sportiness’. The new […]
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Shortly after opening in green, Sensex slips 400 points, Nifty below 8,900
Shortly after opening in green, the domestic equity indices erased gains on Wednesday with BSE Sensex slipping over 500 points and the broader NSE Nifty dropping below 8,900-level. At 10:10 am, the 30-share BSE Sensex traded at 30,174.13 down by 413.92 points in early trade while Nifty slumped 128.75 points […]
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Bikes vs coronavirus: Why this city is promoting cycles to beat Covid-19
Wash your hands. Try to stay home. But if you have to go out, consider taking a bike. That’s the message the mayor of one of Latin America’s most populous cities is sending residents in a novel bid to halt the spread of the new coronavirus. Bogota opened nearly 72 […]
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IMF says coordinated fiscal stimulus needed to limit coronavirus’ damage
IMF Managing Director Kristalina Georgieva on Monday said over 20 additional countries have asked about receiving aid from the global lender as the coronavirus pandemic halts economic activity, and she called for strong, coordinated fiscal stimulus to limit the damage. In a blog post on the International Monetary Fund’s website, […]
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Moody’s lowers India’s GDP growth forecast to 5.3 pc in 2020
Moody’s Investors Service on Tuesday lowered India’s GDP growth forecast for 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy. Moody’s had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier […]
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Bengaluru IT hubs look empty as executives work from home amid coronavirus outbreak
RMZ Ecospace, a business park that houses many technology firms such as Accenture and Intel, wore a deserted look on Monday morning. Traffic movement in perhaps Bengaluru’s most congested stretch was seamless, most shops were closed or empty and the usual bustling crowds were missing. Embassy Golf Links (EGL), another […]
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Air India pilots talk about Covid-19 duties, seek urgent financial aid in letter to govt
Air India pilots have sought urgent financial aid from the government citing their Covid-19 duties. In a letter to Civil Aviation Minister Hardeep Puri, the two Air India pilots’ unions – Indian Aviation Guild and the Indian Commercial Pilots Association – said that coronavirus has wreaked havoc across the globe. “During this time, Air […]
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Yes Bank founder Rana Kapoor’s ED custody extended till March 20; agency probes money laundering charges
The Enforcement Directorate (ED) has extended the custody of Yes Bank founder Rana Kapoor till March 20. Kapoor has been held by the probe agency on the charges of money laundering. Kapoor, 62, former MD and CEO of the private bank, was arrested by the ED in Mumbai on March […]
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Rupee plunges 45 paise to 74.20 against US dollar in early trade
The Indian rupee plunged 45 paise to 74.20 against US dollar in early trade on Monday tracking weak opening in domestic equities and sustained foreign fund outflows. Forex traders said investors are on tenterhooks amid mounting fears of a coronavirus-led economic slowdown, even after the Reserve Bank stepped in to […]