Economy news - NewsLocker

RFL case: ED arrests Malvinder Singh, Sunil Godhwani

14-11-2019 13:09 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

The Enforcement Directorate (ED) on Thursday arrested former Fortis Healthcare promoter Malvinder Singh and ex-CMD of Religare Enterprises Ltd (REL) Sunil Godhwani in money laundering case. The central probe agency has arrested them for allegedly misappropriating funds of Religare Finvest Ltd (RFL) and causing it losses to the tune of Rs 2,397 crore.

Govt report recommends Rs 2,904cr compensation for Marathwada farmers

14-11-2019 13:05 via Moneycontrol Economy News

A report prepared by the Aurangabad divisional commissioner#39;s office said that unseasonal rains affected 44,33,549 farmers, ruining crops over 41,49,175 hectares of land in eight districts.

Bharti Airtel posts mega loss of Rs 23,045 cr in Q2

14-11-2019 13:03 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Telecom operator Bharti Airtel, which has been hit hard by the Supreme Court ruling on statutory dues, on Thursday posted highest ever loss of Rs 23,045 crore during the second quarter ended September 30. The company has recorded net income of Rs 119 crore in the same quarter a year ago, although it said that amount are not comparable due to adoption of new accounting system.

China's economy shows further signs of weakness

14-11-2019 12:44 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

China's economy showed further signs of strain on Thursday with data showing a sharp slowdown in consumer spending and factory production, while investment growth hit a record low as the trade war with the US takes its toll.

Nitin Gadkari suggests leather export industry to develop clusters in backward areas

14-11-2019 12:29 via Moneycontrol Economy News

The road transport and highways and MSME minister said the government can think of giving incentives to such clusters, which will have all the facilities like labs and design centres, for the leather industry.

Relief for taxpayers as govt extends due dates for filing GST annual returns

14-11-2019 12:23 via Moneycontrol Economy News

In another relief, it has also decided to simplify the two GST forms by making various fields of these forms as optional, the Central Board of Indirect Taxes and Customs (CBIC) said in a statement.

Deadline for filing GST annual returns extended; forms simplified

14-11-2019 12:23 via Moneycontrol Economy News

In another relief, it has also decided to simplify the two GST forms by making various fields of these forms as optional, the Central Board of Indirect Taxes and Customs (CBIC) said in a statement.

Wholesale inflation slows to 0.16% in October

14-11-2019 12:13 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Wholesale inflation slipped to about three-and-a-half-year low of 0.16 per cent in October on account of a decline in prices of manufactured goods though food products remained dearer, government data showed on Thursday. The previous low was in June 2016 when the Wholesale Price Index-based inflation was a negative 0.1 per cent.

Editor#39;s Take | October CPI inflation climbs to 16-month high

14-11-2019 12:07 via Moneycontrol Economy News

Food prices grew 7.89 percent in October, against 5.11 percent in September. Vegetables inflation for October stood at 26 percent against 15.4 percent in September

GSTR-9, GSTR-9C forms simplified; deadline extended

14-11-2019 11:50 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

GSTR-9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). And, GSTR-9C is filed by those whose annual turnover exceeds Rs 2 crore. It is a statement of reconciliation between GSTR-9 and the audited annual financial statement.

Agitation soon if no relief to rain-hit farmers: Kisan Sabha

14-11-2019 11:38 via Moneycontrol Economy News

It also condemned the detention of Prahar Janshakti Party#39;s newly-elected MLA Bachchu Kadu and several farmers in Mumbai on Thursday while they were taking out a protest march to Raj Bhawan over their various demands, including non- payment of crop insurance and loan waiver.

Sensex closes 170 point up at 40286.48, Nifty ends above 11,850; Infosys, ICICI Bank top gainers

14-11-2019 11:18 via Zee News :Business

The BSE Sensex on Thursday closes 170.42 points higher or 0.42 percent at 40286.48, and the Nifty was up 30 points or 0.25 percent at 11870.50. The top gainers were ICICI bank, Infosys and Bajaj Finance while Bharti Infratel, and IndusInd Bank were the top losers.

India resumes buying Malaysian palm oil as Kuala Lumpur offers discount: Traders

14-11-2019 11:11 via Moneycontrol Economy News

The resumption in purchases by India, the biggest buyer of Malaysian palm oil this year, could support Malaysian palm oil prices, which are trading near their highest level in two years.

RBI to cut rates by 40 bps by February despite high inflation: Report

14-11-2019 11:07 via Moneycontrol Economy News

The consumer price inflation fastened to 4.62 per cent for October in official data released on Wednesday, resulting in concerns over RBI#39;s rate stance, given that the central bank is mandated to keep the number at 4 per cent.

Retail inflation may average at 4% in FY20: SBI report

14-11-2019 10:45 via Moneycontrol Economy News

In October, inflation based on the Consumer Price Index (CPI) spiked to a 16-month high of 4.62 per cent on costlier food items.

Wholesale inflation slows to 0.16% in October; lowest in three-and-a-half years

14-11-2019 10:15 via Moneycontrol Economy News

The rate of price rise for food articles was at 9.80 percent during the month, while for non-food articles it stood at 2.35 percent, showed the data released by the Ministry of Commerce and Industry.

4 govt-run kiosks in Bhopal to sell onion at Rs 50/kg

14-11-2019 09:22 via Moneycontrol Economy News

The retail price of onion has gone up to Rs 80 per kg in the Madhya Pradesh capital and many other places.

Wholesale inflation eases to 0.16% in October from 0.33% in September: Report

14-11-2019 08:41 via Zee News :Business

The annual inflation, based on monthly wholesale price index (WPI), was at 5.54 per cent in October 2018.

Moody's cuts India's GDP growth forecast to 5.6% for 2019

14-11-2019 08:33 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Moody's Investors Service on Thursday cut India's economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier, saying GDP slowdown is lasting longer than previously expected. "We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 per cent in 2019, from 7.4 per cent in 2018," it said.

Moody's cuts India's GDP growth forecast for 2019

14-11-2019 08:33 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Moody's Investors Service on Thursday cut India's economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier, saying GDP slowdown is lasting longer than previously expected. "We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 per cent in 2019, from 7.4 per cent in 2018," it said.

Moody#39;s slashes India#39;s economic growth forecast to 5.6% for 2019

14-11-2019 08:25 via Moneycontrol Economy News

It also added "We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 percent in 2019, from 7.4 percent in 2018". "India#39;s economic slowdown is lasting longer than previously expected."

Moody#39;s cuts India#39;s GDP growth forecast to 5.6% for 2019

14-11-2019 08:25 via Moneycontrol Economy News

It expected economic activity to pick up in 2020 and 2021 to 6.6 percent and 6.7 percent, respectively, but the pace to remain lower than in the recent past.

WPI inflation eases to 0.16% in October

14-11-2019 08:15 via Moneycontrol Economy News

The rate of price rise for food articles was at 9.80 percent during the month, while for non-food articles it stood at 2.35 percent, showed the data released by the Ministry of Commerce and Industry.

Iraq's protests raise question: Where does the oil money go?

14-11-2019 07:51 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Waves of violent protests have engulfed Baghdad and Iraq's southern provinces, with demonstrators chanting for the downfall of a political establishment that they say doesn't prioritise them.

Iraq protests raise question: Where's oil money?

14-11-2019 07:51 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Waves of violent protests have engulfed Baghdad and Iraq's southern provinces, with demonstrators chanting for the downfall of a political establishment that they say doesn't prioritise them.

Japan#39;s economy nearly stalls in Q3, growth at one-year low as trade war bites

14-11-2019 07:30 via Moneycontrol Economy News

Private consumption also cooled from the previous quarter, casting doubt on the Bank of Japan#39;s view that robust domestic demand will offset the impact from intensifying global risks.

In Focus with Udayan Mukherjee | Can the stock market rally despite weakening economy?

14-11-2019 07:05 via Moneycontrol Economy News

CNBC-TV18 Consulting Editor Udayan Mukherjee digs deeper into whether or not the market will be able climb higher from current levels in the face of a struggling economy.

BRICS Summit: Jair Bolsonaro says China part of Brazil’s future

14-11-2019 06:33 via The Financial ExpressEconomy – The Financial Express

Standing alongside Chinese President Xi Jinping in the Brazilian capital of Brasilia, Bolsonaro said on Wednesday he hoped the two countries could not only increase but also "diversify our trade relations."

Trade war: Jobs at risk in China as services sector feels heat

14-11-2019 06:25 via The Financial ExpressEconomy – The Financial Express

The simultaneous downturn in the services and manufacturing industries poses a daunting challenge for authorities seeking to keep a lid on unemployment and prevent social unrest as economic growth slumps to near three-decade lows.

AdWise: '2 bosses give conflicting orders'

14-11-2019 06:06 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Are you dealing with a tough boss? Are your colleagues being mean to you? Talk to us. Our panel of experts will assist you in resolving your workplace related matters. ‘AdWise’ will appear on these pages every Thursday to help you with your workplace matters. Write to us at adwise@timesgroup.com

Vision document soon to ensure 50 per cent value addition to metals produced in Odisha: CM Naveen Patnaik

14-11-2019 05:09 via The Financial ExpressEconomy – The Financial Express

The chief minister said Odisha is marching ahead on the path of industrial development as it has promulgated several progressive and sector-specific policies.

Sensex opens 90 points up at 40,208.46, Nifty nears 11,868.50 in pre-open; Vodaphone Idea shares decline

14-11-2019 05:00 via Zee News :Business

Around 9:07 am, the Sensex was up 63.18 points - or 0.16 per cent - at 40,179.24, while the broader NSE Nifty benchmark was at 11,868.50, up 28.05 points - from the previous close.

India world's most open, investment-friendly economy: PM Modi at Brics business forum

14-11-2019 03:45 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

"India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires $1.5 trillion investment," PM Modi said while addressing the Brics Business Forum.

India world's most investment-friendly economy: PM

14-11-2019 03:45 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

"India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires $1.5 trillion investment," PM Modi said while addressing the Brics Business Forum.

India world#39;s most open, investment friendly economy: PM Modi at BRICS

14-11-2019 03:32 via Moneycontrol Economy News

PM Modi said simplifying intra-BRICS business will increase mutual trade and investment.

PM Modi says wants to make India a $5 trillion economy by 2024

14-11-2019 01:58 via The Financial ExpressEconomy – The Financial Express

PM Modi said that BRICS targets for investment and trade must be more ambitious and that he welcomes suggestions to further reduce trade costs.

DoT to telcos: Pay Rs 93k cr in line with SC order

14-11-2019 01:21 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

The department of telecom (DoT) on Wednesday shot off notices to financially crippled mobile operators, including Bharti Airtel and the joint venture Vodafone Idea, seeking recovery of nearly Rs 93,000-crore outstanding.

Tribunal posting: Amended Finance Act rules struck down

14-11-2019 01:16 via The Financial ExpressEconomy – The Financial Express

A five-judge Constitution Bench led by Chief Justice Ranjan Gogoi directed the law ministry to conductan impact study and submit a report to the apex court.

Retail inflation hits 16-month high in October

14-11-2019 01:15 via The Financial ExpressEconomy – The Financial Express

CPI inflation hit a 16-month peak of 4.62% in October, as food inflation jumped to 7.89% — the highest since July 2016.

Piyush Goyal seeks complete restoration of GSP benefits

14-11-2019 01:15 via The Financial ExpressEconomy – The Financial Express

Commerce and industry minister Piyush Goyal is in the US to hold talks with US Trade Representative Robert E. Lighthizer later on Wednesday (Washington time).

Narayana Murthy’s son Rohan to marry Aparna

14-11-2019 00:00 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

It’s wedding bells for Rohan Murty. Infosys co-founder NR Narayana Murthy’s son is marrying Aparna Krishnan, daughter of Kochi-based Savithri Krishnan, a retired SBI employee, and Commander KR Krishnan. The two met through a common friend in Mumbai about three years ago.

Narayana Murthy’s son Rohan Murty to marry Aparna Krishnan

14-11-2019 00:00 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

It’s wedding bells for Rohan Murty. Infosys co-founder NR Narayana Murthy’s son is marrying Aparna Krishnan, daughter of Kochi-based Savithri Krishnan, a retired SBI employee, and Commander KR Krishnan. The two met through a common friend in Mumbai about three years ago.

Gujarat announces Rs 700 crore relief for farmers

13-11-2019 23:44 via The Financial ExpressEconomy – The Financial Express

Gujarat Cabinet on Wednesday announced Rs. 700-crore relief package for more than four lakh farmers who suffered heavy losses due to unseasonal rain in the state.

Femina launches Flaunt beauty salon

13-11-2019 23:30 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

Bennett, Coleman & Co Ltd (The Times of India Group) has forayed into beauty services with the launch of its first Femina Flaunt Studio Salon, spread over 3,000 sqft on Linking Road in Mumbai’s Khar.

Will stay invested in India growth story: Vodafone CEO

13-11-2019 20:46 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

A day after complaining that its India operations are on the brink of collapse over high taxes and spectrum dues demand, British telecom major Vodafone’s Global CEO Nick Read did a u-turn on Wednesday, claiming he was quoted out of context and re-affirmed the company’s commitment to the market.

Voda CEO says ‘sorry’ to govt, vows to stay on

13-11-2019 20:46 via Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

A day after complaining that its India operations are on the brink of collapse over high taxes and spectrum dues demand, British telecom major Vodafone’s Global CEO Nick Read did a u-turn on Wednesday, claiming he was quoted out of context and re-affirmed the company’s commitment to the market.

Nike says bye to selling on Amazon

13-11-2019 18:59 via Zee News :Business

Big brands have quit Amazon's platform due to sales of counterfeit products and unauthorised sellers which undermines the value of the original brands.

RTI activist files complaint against JM Baxi company, SCI officials

13-11-2019 18:30 via Zee News :Business

RTI activist Asad Patel has filed a complaint against the officials of Shipping Corporation of India (SCI) and JM Baxi and Company, which is one of the biggest firms in the shipping services sector. The complaint was sent to the Shipping Corporation's Director of Grievances on November 11, accusing the SCI of misappropriation of money and lack of transparency in its conduct.

Alibaba launches $13.4 billion Hong Kong listing to fund expansion

13-11-2019 18:30 via Zee News :Business

A 661-page draft prospectus for what looks set to be the world`s biggest cross-border secondary listing shows Alibaba plans to use the money to invest in online delivery and local services platform Ele.me, as well as online travel group Fliggy.

PM Modi’s mega push for solar power gets big boost; 3 firms bid for projects of 10 GW

13-11-2019 18:03 via The Financial ExpressEconomy – The Financial Express

Renewable Energy: The solar power equipment manufacturing linked scheme received good response from private power producers.