Tuesday, Oct 27, 2020 | Last Update : 11:56 PM IST
Columns
It must be asked if we cannot further reform the process and also learn from practices that other nations follow that might help us.
With the People’s Liberation Army of China menacing India’s northern borders it is quite natural for India to look for military allies.
So far, dear reader, this whole puja season I have not had to use my ear plugs at all
Economy
Centre writes to states on options of borrowing money to meet GST revenue shortfall
Compensation payment has been an issue since August 2019 with GST collections faltering. I
Engineering exports once gain down in August after growth in July
Subdued industrial activity is still pulling down shipment of value-added products
World Bank says global economy to shrink 5.2%, worst recession since WWI
Per capita incomes are expected to decline by 3.6 per cent, which will tip millions of people into extreme poverty this year
Home prices across India fall 2.3 per cent in six months
As on Q2 2020, prices declined by 1.9 per cent for the 12-month period
Raghuram Rajan warns against 'unprecedented' rise in NPA levels in next 6 months
He said one positive factor for Indian economy is that the agriculture sector is doing well
Market
Oil prices tumble $1 per barrel after Saudi price cuts
The recovery in oil prices has also encouraged some US drillers to return to the wells
Gold prices hit record high, crosses Rs 50,000-mark for first time
Silver was also in huge demand as its prices zoomed Rs 2,550 to Rs 60,400 per kg
Oil prices slip after OPEC, allies agree to loosen supply curbs
OPEC+ agreed on Wednesday to scale back oil production cuts from August as the global economy slowly recovers from the coronavirus pandemic
Rupee slips below 74/USD amid Coronavirus fears
Brent crude futures, the global oil benchmark, tanked 30 per cent to USD 31.69 per barrel
Companies
Reliance Retail gets Rs 7,500 crore investment from Silver Lake
The investment values Reliance Retail at Rs 4.21 lakh crore
When things go back to normal, pharma may come down to earth
The healthy performance in Q1FY21 is attributed to strong revenue growth in the API business
SC orders telcos to clear AGR dues in 10 years, 10% to be paid by March 31
Failure to pay the instalments of the dues would incur penalty, interest and contempt of court, the bench cautioned the telecom firms
Centre may allow companies with over 300 workers to fire staff without its nod
The proposal, which was the bone of contention between the ministry and trade unions, is part of the Industrial Relation Code Bill 2020.
India's manufacturing activity gains momentum despite job losses
On the price front, the survey also observed that there was a softer and historically weak rise in input costs
Autos
TVS Motor cuts staff salaries by up to 20% as sales plummet
There will be 5 per cent salary reduction at the junior executive level and about 15 to 20 per cent at the senior management level
Ducati India open bookings for 2020 Panigale V2 ahead of launch
Unlike the outgoing model, the Panigale V2 features a single-sided X and a moulded around refined monocoque frame, the company said
Maruti Suzuki India records 86% slump in May sales
Domestic sales declined by 88.93 percent to 13,888 units last month
Daimler Q2 loss widens on weak demand
CEO Ola Kallenius said it had worked to preserve cash reserves during a difficult time and was seeing “the first signs of a sales recovery”
In Other News
DGCA extends ban on international passenger flights till September 30
The circular said suspension does not affect the operation of international all-cargo operations and flights specifically approved by DGCA
ED raids firms running Chinese betting apps, freezes bank accounts
The federal probe agency said it has frozen four HSBC bank accounts containing Rs 46.96 crore after conducting raids at multiple premises
States may cut FY21 capex by Rs 3 lakh crore, says ICRA
ICRA has projected that the gap between the GST compensation requirement and the cess collections for FY21 will be Rs 2.9 lakh crore
ASEAN countries, 8 others including India to strengthen regional supply chains
The ministers have finalized an ASEAN Digital Integration Index, which maps readiness for an integrated digital economy among ASEAN members
SC asks Centre, RBI to file Kamath panel suggestions, decisions on loan moratorium
Kapil Sibal said that he wanted to file a detailed affidavit to the Centre's reply as there are certain facts which need to be dealt with