Tuesday, Oct 27, 2020 | Last Update : 11:56 PM IST

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Economy

 Union Finance Minister Nirmala Sitharaman chairs the 41st GST Council meeting via video conferencing, in New Delhi, Thursday, Aug 27, 2020. MoS for Finance Anurag Thakur and Finance Secretary Ajay Bhushan Pandey are also seen.

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

India's engineering exports dipped 8 per cent in August, 2020.

Engineering exports once gain down in August after growth in July

Subdued industrial activity is still pulling down shipment of value-added products

 Global economy to plunge into worst recession since WW-II, says World Bank. (AFP Photo)

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

Mainstream residential prices across 56 countries and territories rose at an annual rate change of 4.7 per cent on an average, compared to Q1 2020 at 4.4 per cent

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

 Former RBI governor Raghuram Rajan. (PTI Photo)

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 drops more than $1 after Saudi price cuts. (AFP Photo)

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

 India gold prices hit all-time high, dampens retail demand. (AFP Photo)

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

 Representative Image. (AFP)

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

Coronavirus has already had its toll on the Indian indices and the recent RBI's crackdown on Yes Bank has done further damage to the Indian stock market, say experts. PTI photo

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

 Chairman of India's Reliance Industries Mukesh Ambani (L) looks at rows of produce during a visit to a Reliance Fresh supermarket in Hyderabad. (AFP Photo)

Reliance Retail gets Rs 7,500 crore investment from Silver Lake

The investment values Reliance Retail at Rs 4.21 lakh crore

Representational image (AFP)

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 grants 10 yrs to telcos to pay AGR-related dues to DoT. (PTI Photo)

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

Representational image.

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.

 Despite the significant rebound, firms cut staff for the sixth month in a row (PTI photo)

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 implements pay cuts for employees. (PTI Photo)

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 Panigale V2 bookings open in India. ( Photo- ducati.com)

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. (PTI Photo)

Maruti Suzuki India records 86% slump in May sales

Domestic sales declined by 88.93 percent to 13,888 units last month

 Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, lost 1.91 billion euros in the second quarter. (AFP Photo)

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

 Suspension of scheduled international passenger flights extended till Sept 30. (PTI Photo)

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 freezes 4 bank accounts containing Rs 46.96 cr after raids on firms running Chinese betting apps. (Representative Image)

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

 Capex of states may have to cut by Rs 1- 3.4 lakh crore, finds ICRA. (AFP Photo)

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, 8 other countries call for strengthening regional supply chains. (Representative Image- AFP)

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

PTI representational image

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