Page 2103 - Coronavirus

Wall Street indices slip; Dow sees biggest quarterly drop in over 3 decades

S&P 500 suffering its deepest quarterly drop since the financial crisis

IDBI Bank grants moratorium on term loans amid Covid-19 disruption

The lender has sent a communication to its customers that they were being offered a moratorium.

Downgrades due to Covid-19 to keep Bharat Forge stock under pressure

Stock down 5% on weak truck and oil and gas outlook

Coronavirus cases near 1,400 in India amid lockdown; toll rises to 35

The death toll in India has risen to 35 from 10 at the time lockdown was announced on March 24.

Clinical trial norms may be eased for developing coronavirus vaccine

Sources said no fresh approvals would be given for clinical trials, except for those related to Covid-19.

Covid-19: Sensex posts biggest quarterly fall, Nifty's worst in 28 years

Meanwhile, foreign portfolio investors (FPIs) have pulled out net of Rs 55,007 crore (approx. $7.4 billion) from Indian equities in March 2020

IMD predicts warmer summer; experts unclear on whether it halts Covid-19

If there is any inverse relation between the spread of Covid-19 and high temperature, India might be in for a better spot

Covid-19: Centre allows 100% tax rebate for contributions to PM CARES

This brings its tax treatment on a par with the Prime Minister National Relief Fund.

Develop innovative methods to fund requirements: FM Sitharaman at G20

She was speaking at the 2nd Extraordinary G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, held in a virtual manner.

Banks extending emergency loans to salaried, entrepreneurs after rate cut

However, most are extending it to their existing customers only

Gold imports in FY20 fell to a decade low, March saw 75% decline

Demand slowdown seen next year as well; no immediate uptick seen post lifting of lockdown

Coronavirus impact: India and China may escape global recession, says UN

With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the Covid-19 crisis, the UN is calling for a $2.5 trillion a rescue package

Apparel industry could lose Rs 1 trn due to lockdown, say manufacturers

It has requested the government to consider both wage subsidies and working capital support

Follow-up distress calls of workers strictly: Chief Labour Commissioner

CLC says workers have complained of job losses and non-payment of wages

Nearly 600,000 workers migrated on foot during lockdown, govt tells SC

The government expressed concern, saying that the migration had the potential to spread the deadly virus to the rural population "which has remained untouched so far"

Govt extends foreign trade policy, other export benefits for one year

Currently, tax benefits are provided under the Merchandise Export from India Scheme for goods and the Services Export from India Scheme).

RBI Moratorium: NBFCs stare at asset liability management challenges

Managing liability outflows will be a tightrope walk for NBFCs in the near term

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Covid-19 lockdown: MF equity flows could see a 10-15% dip in March

Participants say flows have shown resilience despite shutting of offline channels

Coronavirus: ITC repurposes Himachal perfume plant to produce sanitisers

The move follows ITC temporarily stopping manufacture of cigarettes - its main revenue earner - as well as production of non essential items