Economy news

• US-based Indian claims big stake in Paytm parent

  23-02-2021 05:39 via timesofindia.indiatimes.com
  
  A US-based Indian national has demanded a significant stake in One97 Communications, Paytm’s parent entity, along with a board seat and recognition as a co-founder, while accusing the company’s founder and CEO Vijay Shekhar Sharma of going back on his promise and allegedly misappropriating his investments.
  
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• Bengaluru tops list of cities in ease of living

  04-03-2021 09:07 via timesofindia.indiatimes.com
  
  Bengaluru has emerged as the best city on ease of living parameters among 49 million-plus cities in 2020, pushing the earlier top ranker Pune to number two. Among 62 cities having less than one million population, Shimla has topped the list followed by Bhubaneswar, according to the Union housing and urban development ministry.
  
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• Step Up Your Videography Game in Style and Flaunt Your Nights with the Upcoming OPPO F19 Pro+ 5G

  04-03-2021 08:54 via zeenews.india.com
  
   OPPO’s focus on video-centric smartphone innovations, the F19 Pro+ 5G comes with an AI Highlight Portrait Video feature that is great for overexposed or underexposed videos. It strikes a balance between the background and the subject to make videos look natural, and replete with details.
  
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• Petrol price may come down to Rs 75 if brought under GST, says SBI Economist

  04-03-2021 07:22 via zeenews.india.com
  
  Petrol prices have touched Rs 100 per litre in some pockets of the country and concerns are being expressed about the high taxation which is making the fuels dearer. The SBI economists said bringing petrol and diesel under the goods and services tax is an unfinished agenda of the GST framework and getting the prices under the new indirect taxes framework can help. 
  
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• Sensex falls over 600 points in opening trade

  04-03-2021 07:03 via timesofindia.indiatimes.com
  
  Equity indices slipped in opening trade on Thursday with the benchmark BSE index falling nearly 650 points, dragged by banking and financial stocks. The 30-share BSE index was trading 645 points or 1.25 per cent lower at 50,799; while the broader NSE Nifty was 190 points or 1.25 per cent lower at 15,055.
  
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• Big Update: Airbags for front passenger seats mandatory from April 1, know more

  04-03-2021 06:38 via zeenews.india.com
  
  The Ministry of road transport has proposed to make the front airbags (driver and passenger) mandatory in India. The law ministry has accepted this proposal and has given a green signal for front airbags as a standard fitment. As of now, only driver's seat airbags is compulsory for all passenger vehicles in India. 
  
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• Sensex tumbles 726.29 points in opening trade, Nifty at 15,048.55

  04-03-2021 06:07 via zeenews.india.com
  
  The domestic indices opened with a fall on Thursday (March 4). The US markets ended lower on Wednesday and this is reflected in the Indian markets. The Sensex tumbles 726.29 points to 50,718.36 in opening trade; Nifty drops 197.05 points to 15,048.55.
  
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• SpaceX's Starship SN-10 prototype explodes after safe landing

  04-03-2021 06:06 via zeenews.india.com
  
  This was SpaceX's third such attempt which has witnessed similar results. The Starship SN-10 was launched from the company's launch pad in Boca Chica in Texas on Wednesday (March 3) at about 5.15 PM. SpaceX has developed the Starship to carry humans and 100 tons of cargo on future missions to the moon and Mars.
  
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• Sensex tumbles 726.29 points in opening trade, Nifty down 15,048.55

  04-03-2021 05:45 via zeenews.india.com
  
  The domestic indices opened with a fall on Thursday (March 4). The US markets ended lower on Wednesday and this is reflected in the Indian markets. The Sensex tumbles 726.29 points to 50,718.36 in opening trade; Nifty drops 197.05 points to 15,048.55.
  
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• UK to hike corporate tax to 25% from 19% in 2023

  04-03-2021 05:34 via timesofindia.indiatimes.com
  
  Britain will raise its corporation tax on the biggest and most profitable companies to 25% from 19% from 2023, the first hike in nearly half a century, but it will temper the burden with a “super deduction” to spur investment.
  
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• Legislation on H-1B introduced in US Congress

  04-03-2021 05:34 via timesofindia.indiatimes.com
  
  Three American lawmakers have introduced a legislation in the House of Representatives that stops employers from hiring foreign H-1B workers if they have recently, or plan to, furlough their US workers and requires employers to pay their H-1B workers more than their American workers.
  
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• Sensex tumbles 726.29 points to 50,718.36, Nifty drops 197.05 points in opening trade

  04-03-2021 05:29 via zeenews.india.com
  
  The domestic indices opened with a fall on Thursday (March 4). The US markets ended lower on Wednesday and this is reflected in the Indian markets. The Sensex tumbles 726.29 points to 50,718.36 in opening trade; Nifty drops 197.05 points to 15,048.55.
  
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• Sensex falls over 600 points in opening trade; Nifty below 15,550

  04-03-2021 05:19 via timesofindia.indiatimes.com
  
  Equity indices slipped in opening trade on Thursday with the benchmark BSE index falling nearly 650 points, dragged by banking and financial stocks. The 30-share BSE index was trading 645 points or 1.25 per cent lower at 50,799; while the broader NSE Nifty was 190 points or 1.25 per cent lower at 15,055.
  
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• Distributors urge Bezos not to block Future-RIL deal

  04-03-2021 05:06 via timesofindia.indiatimes.com
  
  At a time when two of the world’s richest men, Mukesh Ambani of Reliance Industries (RIL) and Amazon founder Jeff Bezos are fighting over India’s booming retail industry, local distributors of soaps, shampoos and hair oil have written to Bezos and Amazon’s India head Amit Agarwal not to block the Future Group-RIL deal.
  
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• Paytm Money sees Rs 1,500cr MF inflows amid Covid

  04-03-2021 05:00 via timesofindia.indiatimes.com
  
  Mutual fund investments through Paytm’s investment arm, which was launched in September 2018, have crossed the Rs 5,000-crore mark with over Rs 1,500 crore coming in during the pandemic.
  
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• 39% Indian companies have women CXOs

  04-03-2021 05:00 via timesofindia.indiatimes.com
  
  ​​​The percentage of women in senior management for India stood at 39%, as against the global average of 31%, which signals the changing outlook of Indian businesses towards working women, the Women in Business 2021 report said.
  
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• Companies to cover vaccine cost for staff & family

  04-03-2021 04:47 via timesofindia.indiatimes.com
  
  With the Covid vaccination opening for the general public, SBI, Accenture, Infosys, TCS and RPG Group have announced mass inoculation for their employees. Indian Banks Association, the umbrella body of all banks, has issued an advisory for its member banks to consider bearing the cost of vaccination to its employees.
  
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• Startups tap new investors amid uncertainty on China FDI

  04-03-2021 04:13 via timesofindia.indiatimes.com
  
  Amid scrutiny of Chinese capital, Indian startups which have raised funds from Chinese investors in the past are now tapping new investors that do not pose immediate geo-political risks.
  
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• Legislation on H-1B visas introduced in US Congress

  04-03-2021 04:13 via timesofindia.indiatimes.com
  
  Three American lawmakers have introduced a legislation in the House of Representatives that stops employers from hiring foreign H-1B workers if they have recently, or plan to, furlough their US workers and requires employers to pay their H-1B workers more than their American workers.
  
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• HDFC cuts PLR by 5bps, home loans now at 6.75%

  04-03-2021 04:13 via timesofindia.indiatimes.com
  
  The country’s largest housing finance company HDFC has cut interest rate on its home loans to 6.75% from 6.8%. HDFC has cut its retail prime lending rate (PLR) by 5 basis points (100bps = 1 percentage point), which will bring down interest rates for existing borrowers too.
  
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• Run-up to polls: Private gencos want Tamil Nadu to clear dues

  04-03-2021 00:00 via financialexpress.com
  
  However, since the scheme is designed to disburse loans in two tranches, private power producers want the state to avail the second tranche of the loan at the earliest so that the balance dues can be cleared as soon as possible.
  
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• ED probe into Kerala govt body causes a flutter: state FM Thomas Isaac

  03-03-2021 23:00 via financialexpress.com
  
  Kerala is a state with a high revenue deficit, gets revenue deficit grants from the Centre. KIIFB has had a pivotal role in mobilising funds for infrastructure development from avenues outside the state's revenue and central transfers.
  
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• Private power plants seek Odisha govt’s help to cut water charges

  03-03-2021 22:45 via financialexpress.com
  
  The industry body also objected against the state’s norm to increase water charges by 10% every year.
  
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• ‘Software tax’: SC ruling to force tax dept to cough up a tidy sum

  03-03-2021 22:15 via financialexpress.com
  
  Foreign software suppliers will breathe a sigh of relief with the long uncertainty finally reaching a well-founded outcome in their favour,” said Ravi Mahajan, partner at Ernst & Young LLP.
  
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• Infosys, Accenture to cover Covid jab costs for staff

  03-03-2021 20:22 via timesofindia.indiatimes.com
  
  Information Technology major Infosys Ltd and consulting and outsourcing services provider Accenture Plc said on Wednesday they would cover Covid-19 vaccination costs for their employees in India, as the country expands its massive vaccination drive.
  
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• Inflation targeting: Current target band should be extended for 5 more years, says Niti Aayog vice-chairman Rajiv Kumar

  03-03-2021 20:00 via financialexpress.com
  
  India’s economy regained quite a lot of lost steam in the December quarter, to register a flat growth of 0.4% after two consecutive quarters of deep contraction caused by the pandemic, according to official data.
  
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• Infosys, Accenture to cover Covid jab costs for Indian workers

  03-03-2021 19:04 via timesofindia.indiatimes.com
  
  Information Technology major Infosys Ltd and consulting and outsourcing services provider Accenture Plc said on Wednesday they would cover Covid-19 vaccination costs for their employees in India, as the country expands its massive vaccination drive.
  
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• Google vows to stop individual user tracking

  03-03-2021 19:04 via timesofindia.indiatimes.com
  
  Alphabet Inc's Google on Wednesday pledged to steer clear of tracking individual online activity when it begins implementing a new system for targeting advertisements without the use of so-called "cookies." Google's widely used Chrome browser this month will begin testing an alternative to the tracking practice. Google believes that it can improve privacy while enabling advertisers.
  
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• Jet Airways deal will put country's airports at risk, read this exclusive report from Zee News

  03-03-2021 15:33 via zeenews.india.com
  
  Murari Lal Jalan of Jalan-Kalrock consortium, which won the bid for Jet Airways, has links with the infamous Gupta brothers of South Africa.
  
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• Trains to have AC general second-class coaches

  03-03-2021 15:08 via timesofindia.indiatimes.com
  
  New general class coach! The prototype of a new air-conditioned general second class coach will be rolled out soon.
  
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