The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
Fitch Ratings on Monday said the shock to economic activity from the latest wave of COVID-19 pandemic will be less severe than the one in 2020, but recovery is likely to be delayed as economic activity dropped in April-May. The global rating agency said there are growing indications that the latest wave of COVID-19 infections will add to risks among financial institutions (FIs) and anticipates that the Reserve Bank of India (RBI) may introduce additional measures to support the financial sector if indications of economic stress mount.
Organisers are still considering whether alcohol will be served in venues, Tokyo 2020 President Seiko Hashimoto said late on Monday.
How long will the RBI allow the government to borrow cheaply? A change in policy direction will see rates climb and bond values fall. Investors in debt funds are therefore at risk, as are people invested in the heated stock market, warns T N Ninan.
The skies were clear of the bushfire smoke that has shrouded the city on several occasions over the last few months and has organisers prepared for delays during the match.
They alleged that while the salaries and perks of other employees are paid in full albeit with a delay, the same for the pilots and cabin crew are ignored
The expulsion, which would have to be approved by the World Athletics Congress, would lead to Russian athletes being sidelined from international competitions, including those who had previously been authorised to compete as neutrals.
Pakistan Prime Minister Nawaz Sharif on Monday approved in principle the financing plan of the much-delayed 4500 megawatt Diamer-Basha Dam project on the Indus river in Pakistan-occupied Kashmir and asked officials to expediate its construction.
China is acutely conscious of the need for the next Dalai Lama to be under its control. It was for this reason that China recently stressed their claim on Arunachal Pradesh. There were rumours that the next Dalai Lama may be found in Tawang. If that happens, India-China relations will become tense and there may be demands for the child to be handed over to the Chinese, points out Ambassador T P Sreenivasan.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
'Gold could benefit from the resulting risk aversion, as happened last year.'
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
IIM-Ahmedabad has written to Flipkart co-founder Binny Bansal on the issue, saying the students felt cheated for no fault of theirs for choosing the company over other brands and will suffer as they have to re-pay their education loans.
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
Of 1,400 pilots the airline has, 200 have quit in the past few months because of salary delays.
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
The organisers took the unprecedented step of postponing the Olympics in March because of the pandemic and the government of Prime Minister Yoshihide Suga, who has declared he will host the Olympics "at any cost", is pressing ahead with the preparations.
The Congress, Left parties, Trinamool Congress and some others were in the forefront of this attack on the government, which is set to garner around Rs 7,900 crore through the decision.
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
The government is looking at a new timeline for Air India disinvestment and financial bids will be invited in the coming days, Union minister Hardeep Singh Puri said on Friday. Noting that there is no choice but to either "privatise or close" Air India, he said the government will have to keep the airline running till it gets divested. "We are looking at another timeline now, what is called data room for prospective bidders to look at... that is opened up, 64 days for the financial bids to come in. "After that it is the question of taking a decision and handing over the airline," the Minister of State for Civil Aviation said.
Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), on Wednesday said it had tried to facilitate a possible deal between Reliance and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL chief Punit Goenka told the company's board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group (Strategic Group) with inflated valuation "by at least Rs 10,000 crore". In a statement on Wednesday, Invesco mentioned that Reliance was the large Indian group.
Cricket has been suspended since March and the ECB approved an additional financial package of 35.7 million pounds ($44.71 million)
Time was when you turned on your car's ignition, all that happened was that the mechanical system fired up your engine and made it run. Today, the moment you do so, your stereo system probably lights up, connects to the Bluetooth on your smartphone, and lets you make calls through an audio assistant or play music from your phone, which you can hear on the car's speakers. All these smart features in a car are powered by semiconductors, or chips, as they are commonly called.
This payment of Rs 962 crore is inclusive of the Rs 500 crore DHFL received from exiting its entire stake in subsidiary firm Aadhar Housing Finance Ltd.
Kapoor told the ED that he was told by the then petroleum minister Murli Deora that the refusal to buy the MF Husain painting will not only prevent him from building a relationship with the Gandhi family but also prevent him from getting the Padma Bhushan award.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
On September 6, the airline informed senior employees that their salaries would be paid in two instalments till November.
Mumbai metropolitan region, comprising Mumbai city, Navi Mumbai and Thane, leads the pack (in delayed projects) with 210,000 units at an approximate valuation of Rs 2.34 trillion.
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
The new offer is part of its strategy to turn India to an exclusively 4G market.
'We will likely be buffeted by tailwinds from the global economy, geopolitical shifts and robust domestic demand.'
Experts say this is a good time to buy a house for self-use, points out Sanjay Kumar Singh.
Several opposition members, including from the Dravida Munnetra Kazagham and the Communist Party of India-Marxist, also pointed out that the government took almost two months to impose the lockdown after the first case came to light in January, and claimed the delay had proved costly.
Australia will join the United States in a diplomatic boycott of the Winter Olympic Games in Beijing, Prime Minister Scott Morrison said on Wednesday, as other allies weighed similar moves to protest China's human rights record.
Modi highlighted the fact that normal rules and procedures have been set aside in view of the emergency nature of requirement in Kerala.
The three points on which clarifications are sought include widening of powers of special designated courts and that no court could grant anticipatory bail and a suggestion by the Centre for adding a new provision for compounding offences.
