Market benchmark Sensex dropped over 200 points on Tuesday led by losses in index-heavyweights HDFC twins, Kotak Bank and ITC amid weak global cues. After hitting an intra-day low of 41,301.63, the 30-share BSE index pared losses to trade 86.90 points or 0.21 per cent lower at 41,442.01. Similarly, the […]
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India’s growth slowdown is a drag on the world, says IMF chief economist Gita Gopinath
The International Monetary Fund (IMF) on Monday slashed India’s growth forecast by 1.3 percentage points to 4.8% for 2019-20, prompting the agency to also trim its global growth estimates as a result. IMF chief economist Gita Gopinath said growth in India slowed sharply “owing to stress in the non-bank financial […]
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Domestic air passenger traffic growth plummets to 3.7% in 2019
India’s domestic air passenger traffic growth slowed to 3.74% in 2019 from 18.60% in 2018, amid a subdued economy and the grounding of Jet Airways (India) Ltd. Domestic scheduled carriers carried 144.17 million passengers during 2019, against 138.98 million passengers in 2018, data issued by the Directorate General of Civil […]
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Non-compliance in GST payments maybe burning a Rs 5 tn hole in revenues
The government may be losing Rs 5 trillion in indirect tax revenue a year, amounting to 40% of its goods and services tax (GST) collection target, because of defaults and evasion, according to the Fifteenth Finance Commission’s (FFC), confirming policymakers’ fears that businesses are not paying their fair share of taxes. […]
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Nifty, Sensex slip from record highs; refiners, IT weigh
Indian shares backed down from record highs hit in early trade on Monday, as earnings from top valued companies failed to impress investors, and refiner Indian Oil Corp Ltd slumped to a 15-month low. The NSE Nifty 50 index fell 0.39% to 12,304.5 by 0503 GMT, while the benchmark S&P […]
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Petrol, diesel prices slashed for 5th consecutive day
Fuel prices were further cut on fifth consecutive day across all major cities on Monday. The price of petrol was cut by 10-12 paise and that of diesel by 19-20 paise on Monday bringing relief to the consumers. Petrol now costs Rs 74.98 a litre in Delhi, Rs 80.58 a […]
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After Seltos and Carnival, Kia Motors plans compact SUV to rival Brezza
South Korean automaker Kia Motors plans to keep rolling out new models at regular intervals in India as it aims to fully utilise its current installed production capacity of 3 lakh units by March 2022, a senior company official said. The company, which has got to a flying start in […]
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2,153 billionaires richer than 4.6 billion people, says Oxfam study
The world’s richest 1% have more than twice the wealth of the rest of humanity combined, according to Oxfam, which called on governments to adopt “inequality-busting policies.” In a report published ahead of the World Economic Forum’s annual meeting in Davos, the U.K.-based charity said governments are “massively under-taxing” rich […]
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Boeing finds ‘minor’ new 737 MAX software glitch
Boeing said Friday it discovered a new flaw in the software on the grounded 737 MAX aircraft, but hopes to resolve the matter shortly so that it does not further delay the plane’s expected return to service. “We are making necessary updates and working with the FAA on submission of […]
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Tata Nexon EV certified with 312km range
One of the most important new launches from Tata Motors’ vast stable will be the Nexon EV. Slated to see a price announcement later this month, the Nexon EV has been certified for a 312km range by ARAI. The company had earlier announced that the Nexon EV will have a range […]
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Flying taxis are real but not quite ready for take-off yet
Once a part of comic book and movie folklore, flying taxis are expected to be a reality soon. However, commercial take-off may take longer than we think. In most big cities, commuters waste hours on the road because of traffic. Metro rails may be faster than driving to your destination, […]
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Amid trade war with US, China GDP grew 6.1% in 2019, slowest in three decades
China’s economy weakened to its slowest pace in three decades in 2019 as weaker domestic demand and trade tensions with the United States took their toll, official data showed Friday. The world’s second-largest economy grew by 6.1 per cent last year, its worst performance since 1990, according to the National […]
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‘Not charity, defying stereotypes’: Starbucks, home of $4 latte, moving to poor areas
Starbucks has a point to prove: There’s more to the company than selling $4 lattes to rich people. The Seattle-based coffee giant that has cultivated a reputation for being socially responsible said Thursday it is expanding its effort to put more coffee shops — and create more jobs — in […]
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Amazon chief Jeff Bezos says doubling down on investments in India
Amazon chief Jeff Bezos on Thursday said Prime Video is doing better than expectations in India and he has decided to double down the investment for the streaming service in the country. Bezos met a Bollywood gathering as he sat down for a chat with superstar Shah Rukh Khan and […]
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Volvo XC 40 petrol review: New wine in the same stylish compact SUV bottle
The XC 40 from Volvo was first launched in India in 2018 and managed to turn several heads with its typically Scandinavian looks and an exhaustive feature list. That it was offered 2.0-litre, four-cylinder diesel engine, however, may have been a folly, as the move away from diesel had already […]