Page 1962 - Coronavirus

Covid-19: Average card spend falls 25% as shopping, travel take back seat

With malls and shops closed, spending avenues are practically non-existent.

Hit by Covid-19, India's FMCG market to see slowest growth in 4 years

Nielsen estimates 5-6% full-year growth, down from 9-10 %

Modi meets 3 cabinet ministers to get investments, lift economy in lockdown

Modi held a meeting with Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Commerce & Industry Minister Piyush Goyal and officials to discuss strategies to woo investors

Reliance Retail posts 33% rise in Ebitda, revenue grows at 4.2% in Q4 FY20

Its revenues for FY20 grew by 24.8 per cent on a yearly basis to Rs 62,936 crore. Ebitda for FY20 grew by 56 per cent y-o-y to Rs 9,654 crore.

The lingering effect of Covid on services trade

The International Monetary Fund and the World Trade Organization have predicted massive losses in economic growth and international trade

Another looming threat

Govt should prepare to protect farms from locust invasion

Say no to banks

Suspending IBC for an extended period would destroy it

National Infra Pipeline final report doesn't account for Covid-19 slowdown

Copy-pastes optimistic statements from interim report but removes GDP projections

Rs 65,000 cr package needed for poor, target is doable: Raghuram Rajan

Former RBI Governor responds to Rahul Gandhi's question, says GDP is Rs 200 trillion, and out of that 65,000 crore is not a huge amount

Govt may extend 'Vivad se Vishwaas' tax settlement deadline to September

Hopes for bettwe results post Covid-19 as revenue dept has not seen a single deposit owing to the disease outbreak

State refiners fill up India's strategic reserves with spare crude oil

Buying more crude to fill strategic capacity will benefit India as international crude oil prices are falling

Making WFH work

Despite their reservations, companies must frame clear guidelines for the new normal

Russian PM Mikhail Mishustin reveals testing positive for Covid-19

First Deputy Prime Minister Andrei Belousov will temporarily perform Mishustin's duties

Tech Mahindra Q4 net falls 29%; recommends final dividend of Rs 5/share

The Pune-headquartered company reported Rs 804 crore in consolidated net profit for the March quarter (Q4FY20), a decline of 29.1 per cent on year-on-year (YoY) basis

India Inc may see 15% fall in profits in FY21, 10% revenue decline: Crisil

At present, the country is under a 40-day lockdown till May 3, and there are indications of it being gradually withdrawn.

Letter to BS: RBI should take Monetary Policy Committee into confidence

RBI has to not only take MPC into confidence but has to see if ultimately the purpose of providing relief to the ailing sectors is served

Letter to BS: Any delay in unshackling the economy could be harmful

The situation demands side-pocketing of the provisions of the Fiscal Responsibility and Budget Management Act, urgent clearance of goods and services tax dues to the states

After a month of zero sales auto dealers gear up to get back into business

Manufacturers have sent out SOPs and norms dealers must follow before starting operations; Maruti and Hyundai have already opened a few outlets, others are awaiting permission

Letter to BS: Amendments proposed in the Electricity Act are ill-timed

The Union Ministry of Power is­­sued a public notice on April 17, detailing drastic changes in the Electricity Act, 2003

Company offers free hair care services for Covid fighters, journalists

It has offered 300 free hair care services to frontline professionals, including those who donate above a certain amount to the PM-Cares fund