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Saturday, March 06, 2021

economy

Oil prices remain under pressure after record plunge

Oil prices came under renewed pressure on Wednesday following a historic two-day price plunge, as markets struggle with an enormous glut amid the cor...

RBI bans banks, cooperatives from paying dividends

The Reserve Bank debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the C...

Wholesale price inflation cools to 1% in March

The inflation based on wholesale price index (WPI) eased to 1 per cent in March from 2.26 per cent in February on sharp fall in food prices in the co...

Coronavirus could see U.K GDP fall 13% in 2020

Britain's economy could shrink by 13 per cent in 2020 in the case of a three-month coronavirus lockdown, according to a scenario published by fiscal ...

ADB assures $2.2 bn support package to India

Asian Development Bank (ADB) President Masatsugu Asakawa assured Finance Minister Nirmala Sitharaman of $2.2 billion (about Rs 16,500 crore) support ...

India’s fuel consumption shrank by 18% in March

India's fuel consumption in March shrank by 18 per cent, the biggest decline in more than a decade, as a nationwide lockdown halted economic activity...

Centre to release another Rs 34,000 cr compensation to states soon

In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry is planning to soon release another about Rs 34,000 ...

SBI cuts savings rate to 2.75%

Country's largest lender SBI said it has cut savings rate by 0.25 per cent to 2.75 per cent on all deposits.The new rate will come into effect from A...

Italy injects record 400 bn euros into pandemic-hit economy

Italy has unveiled a record 400 billion euro ( USD 430 billion) stimulus to help businesses hurt by a month-long national lockdown that is like to ru...

U.S employment plunges in March amid worsening COVID-19 damage

As the U.S economy craters, crippled by coronavirus shutdowns, businesses jettisoned jobs at an alarming rate last month, government data showed Frid...

World Bank approves $1 bn emergency funds for India

The World Bank approved USD 1-billion emergency financing for India to tackle the coronavirus outbreak.The World Bank's first set of aid projects, am...

Current recession 'way worse' than financial crisis of 2008: IMF

The coronavirus pandemic has created an economic crisis 'like no other' — one that is 'way worse' than the 2008 global financial crisis, the In...

Global economy could shrink by almost 1% in 2020: UN

The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent ...

GST mop-up in March at Rs 97,597 cr

Goods and Services Tax (GST) revenue in March stood at Rs 97,597 crore, lower than over Rs 1.05 lakh crore collected in February. Of the total Rs 97,...

Coronavirus could push 11 mn people to poverty: World Bank

The coronavirus pandemic's economic fallout could cause China's growth to come to a standstill while driving 11 million more people in East Asia into...

China pumps $7 bn into market to counter COVID-19

China's central bank cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (USD 7 billion) into the...

Indian banking system is safe, says RBI Governor

Allaying depositors' concerns, RBI Governor Shaktikanta Das asserted there Indian banking system is safe, and termed linking banks' share prices to s...

Moody's slashes India's GDP growth in 2020 to 2.5%

Moody's Investors Service slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per c...

Sensex crashes 1,709 pts; Nifty tanks below 8,500

Equity benchmark Sensex plunged over 1,709 points on Wednesday as talks of stimulus measures to cushion the economic blow of the Covid-19 pandemic fa...

Japan's imports from China plunged in February

Japan's imports from China almost halved last month from a year earlier to log the steepest fall since 1986 as the new coronavirus outbreak disrupted...