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Tuesday, Oct 27, 2020 | Last Update : 12:37 PM IST

Business

India receives $35 billion FDI in first five months of the fiscal

From an average growth of 8 per cent during FY17-19, urban consumption declined 0.6 per cent for the first time in two decades in FY20 before collapsing by more than a quarter during April-August 2020. (Representational Image: AFP)

Urban consumption sees worst decline in two decades

Easing of lockdown- related restrictions and increase in festive season orders has supported the rough diamond import growth in September.

Rough diamond imports grow after seven months as order come in

The amount so borrowed will be passed on to the states as a back-to-back loan in lieu of GST Compensation Cess releases. (PTI)

Centre to borrow Rs 1.1 lakh cr GST compensation for states

The IRDAI committee has also suggested that a Risk-based capital (RBC) approach should be adopted to enable the progressive growth of the microinsurance business while maintaining the highest prudential standards.

IRDAI panel bats for lower capital, liberal norms for floating microinsurance companies

Apollo Hospitals Executive Vice-Chairperson Shobana Kamineni briefs media about Apollo Hospitals Group gearing up to administer 1 million COVID-19 vaccines per day, to augment the government's battle against COVID-19, at Apollo Hospitals, in Hyderabad. (PTI)

Apollo ready to administer 1 million COVID-19 vaccines a day

Microsoft will allow employees to work from home freely for less than 50 per cent of their working week, and managers will be able to approve permanent remote work. (Representational Image)

Microsoft to expand work from home policy, make it permanent for some staff

Volumes declined 4 per cent, but were compensated by prices that grew by 4.6 per cent and new launches which grew by 3.8 per cent. (Representational Image)

Pharma market reports growth in September

Reserve Bank of India (RBI) governor Shaktikanta Das. — PTI photo

Further extension of loan moratorium will vitiate credit discipline: RBI

Until now, the risk weight of home loans was determined on the basis of loan amounts and LTV ratios

RBI gives relief to big ticket loans of above Rs 75 lakh

Software giant Microsoft will let employees work from home permanently if they choose to, US media reported on Friday.

Microsoft to let employees work from home permanently: Report

Reserve Bank of India (RBI) governor Shaktikanta Das addresses via livestream as he announces the central bank’s monetary policy decisions, in Mumbai. — PTI photo

RBI keeps key rates unchanged; signals more easing to protect India's economy

Centre's interest waiver policy is manageable, say analysts

Lockdown impact: GDP likely to contract by 9.6 per cent this year, says World Bank

Uday Shankar to step down as Star and Disney India chairman

Columns

Kushal Gulab

Kushal Gulab | A woke Navratri, and a Happy Dussehra

So far, dear reader, this whole puja season I have not had to use my ear plugs at all

Anand K Sahay

Anand K Sahay | Far & Near

Will the BJP use Nitish to get own CM in Patna?

Saeed Naqvi

Only Walter Mitty can dream Afghan troop withdrawal before US election

The US involvement in Afghanistan has been a great tragedy

Parsa Venkateshwar Rao Jr

Hindutva a stumbling block for BJP in Bihar

There is a political vacuum in Bihar, and there is room for some of the existing players to grab the opportunity and fill it up.

Economy

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

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

Seen any lately? RBI says the number of Rs 2,000 currency notes in circulation has come down from 33,632 lakh pieces at the end of March 2018 to 27,398 lakh pieces at end of March 2020. (PTI file photo)

Don't jump, Rs 2000 currency notes slowly being phased out

As per RBI's latest annual report, the big note was not printed at all during 2019-20

Low manufacturing figures contributed to the decline.

COVID-19 lockdown effect: Industrial production declines by over 16 per cent in June

Govt: It may not be appropriate to compare the IIP in the post-pandemic months with the IIP for months preceding the COVID-19 pandemic

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

Market

Sensex tanks 667 pts; Nifty ends below 10,900. (PTI Photo)

Indices extend loses for 4th day, Sensex plunges 667 points, Nifty below 10,900

Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent

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

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

Companies

In this 2012 file photo, a visitor walks into a Vodafone store in Bangalore. British telecom giant Vodafone Group plc on Sept. 25, 2020 won an arbitration against the Indian government over a demand for Rs 22,100 crore in taxes using retrospective legislation. (PTI)

India loses case on Vodafone retro tax

Rs 22,100 crore demand dismissed in global court

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

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

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.

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

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)

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