Author: Finance Khabar
New Delhi: The world today, lives in fear of the coronavirus. People and healthcare workers are overwhelmed with the stress of infection. But there is a more potent killer out there. Something no vaccine can protect you from, no mask can save you from- Heart Disease. People would do almost anything to avoid going to the hospital during the COVID-19 pandemic. Unfortunately, that has resulted in many people ignoring the signs of a heart attack. Research shows that people are 17 times more likely to die from a heart attack than from COVID-19. In our endeavour to create an awareness…
New Delhi: The fresh infusion will provide more ammunition to Amazon to compete aggressively against Walmart-owned Flipkart and billionaire Mukesh Ambani-run Reliance Industries’ JioMart in the upcoming festive season. Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius have pumped in Rs 1,125 crore into Amazon Seller Services, regulatory documents sourced by business intelligence platform Tofler, showed. Amazon Seller Services allotted equity shares to these entities for the said transaction on September 17, 2020. Amazon did not respond to queries. In June this year, Amazon had pumped in fresh capital to the tune of Rs 2,310 crore into…
Chennai: The expansion will contribute to the economic growth in the state while creating thousands of work opportunities for locals, Amazon India said. The new centre will offer close to seven lakh cubic feet of storage space, housing lakhs of products in the large appliance and furniture category. With this infrastructure expansion, Amazon.in will now offer storage capacity of close to three million cubic feet across five fulfilment centres to its more than 43,000 sellers in Tamil Nadu. “Tamil Nadu is an important market for us and we are delighted to further invest and expand our infrastructure in the state.…
Domestic stock market started today with better global cues, but later the market dominated selling. Bank and FMCG shares increased the pressure the most. All indices except metal, IT and auto weakened. At the end of trading, the Sensex weakened by about 8 points and closed at 37,973.22. At the same time, there was a weakness of about 5 points in the Nifty and it closed at the level of 11222. Earlier on Monday, there was a strong boom in the stock market. In today’s business, UntraTech is the cement top gainer and ONGC is the top loser. Talking about…
India’s Tata Group is in talks with potential investors for a stake in its new digital platform. People associated with the case said that the company wants to modernize its consumer business as big retail companies like Amazon Inc and billionaire Mukesh Ambani are entering the country’s e-commerce market. Tata Sons Private is a $ 113 billion holding company that is a conglomerate ranging from coffee to cars, working with advisors to bring in financial or strategic investors, including global technology companies. According to people, the group plans to bring different digital assets of Tata businesses together to form a…
The Australian consumer products company is asking for people around the globe to join their movement to flip consumerism and change the world Today, Australia-based social enterprise Thankyou announced an invitation to P&G and Unilever – two of the world’s largest and most influential consumer goods companies – to make and distribute Thankyou products globally to help end extreme poverty. To convince these companies to take this bold move, Thankyou is asking people around the world to get involved and show the collective power of the many who believe in this change, through its campaign aptly named “No Small Plan.”…
New Delhi: The RBI, as a temporary measure, had increased the borrowing limit for scheduled banks under the marginal standing facility (MSF) scheme from 2 per cent to 3 per cent of their Net Demand and Time Liabilities (NDTL) with effect from March 27, 2020. The facility, which was initially available up to June 30, 2020 was later extended up to September 30, 2020 in view of the disruptions caused by the COVID-19 pandemic. “With a view to providing comfort to banks on their liquidity requirements as also to enable to continue to meet LCR requirements, it has been decided…
The Turkish lira skidded to record lows against the US dollar, euro and pound on Monday amid concerns Turkey could get more involved in a fast-escalating conflict in the Caucasus, despite last week’s surprise rate increase meant to support the currency. The Turkish lira slid 2 percent against the dollar and was on track for its worst day since early August when the latest bout of selling began hitting the currency that has shed half its value in less than three years. The selloff erased the gains made during a rally late last week after Turkey’s central bank unexpectedly raised…
New Delhi: Domestic rating agency Icra (ICRA) on Monday further downgraded the country’s GDP projections, saying that the Indian economy could decline by 11 per cent during the financial year 2020-21. The rating agency had earlier predicted a 9.5 percent contraction. Icra revised its estimates and said that the rate of Kovid-19 infection in the country remains high. Significantly, after the official figures of growth for the first quarter of the current financial year, some analysts have said that the economy will fall by 14 per cent during the financial year 2020-21. There has been a 23.9 percent decline in…
Deadly clashes between Armenia and Azerbaijan are unlikely to result in major disruptions to energy production and supplies, analysts say, despite the region being a critical corridor for pipelines transporting oil and gas to the global markets. “There is not really much anticipation that this will boil over into something more serious for oil and commodity markets,” Edward Bell, a senior director at Dubai-based Emirates NBD bank, told CNBC. “If the geopolitical premium is not already in the price, I don’t think we’re going to see much reaction here on in,” Bell added, despite a worry that recent clashes could…
Mumbai: Speaking at the JP Morgan India Summit – Future in Focus, the Adani Group chairman said the AatmaNirbhar Bharat programme will be a game-changer. “I will state without any hesitation – that – in my view – over the next three decades, India is the world’s greatest business opportunity,” he said. India’s geostrategic position and massive market size give it an edge over its global peers amid the fundamental political realignment of nations taking shape, he said adding opportunities for India are likely to accelerate on the other side of the pandemic. “For the sake of the fans of…
New Delhi: Now, users can collect stickers of their favourite cricket stars as they pay digitally for their mobile bills, recharges, buying groceries or money transfers, Paytm said. Once they complete a set, they can redeem it for cashback up to Rs 1,000, it added. Every sticker collected by the user is automatically added to the cricket album. There are three different milestones to be achieved for getting cashback — 11 unique cricket players, 11 unique bowlers or 11 unique batsmen. Whenever a milestone is achieved, the users get a scratch card with an assured cashback. “We are excited to…
New Delhi: This year’s event will feature “incredible savings and deep discounts” on more than one million deals across every category, Amazon said on Sunday. Last year, the sales holiday was conducted in mid-July, but the pandemic this year disrupted its schedule. While traditionally the event is held simultaneously for all participating markets, this year Prime Day in India took place last month, ahead of the other markets. Amazon said it is designing this year’s Prime Day to support small business. “From now until October 12, we will offer Prime members a $10 credit to use on Prime Day when…
Today has been a great day for investors in the stock market. In a day’s business, the wealth of investors has increased by about Rs 3 lakh crore. LORGECAP, MIDCAP all witnessed great boom. In today’s trade, the Sensex gained 593 points and the Nifty gained 177 points. Large-scale action was seen in largecap stocks. 27 stocks of Sensex 30 closed in the green mark. There are 3 biggest reasons behind this. Expect better global signs, vigorous action in PSU bank shares and another relief package. There were reports that soon the government can give big capital support to the…
Mumbai: The Reserve Bank of India (RBI) on Monday said that it has decided to postpone the meeting of the Monetary Policy Committee (MPC) to be held this week and new dates will be announced soon. The central bank, however, did not give any reason for postponing the meeting. RBI’s bi-monthly monetary policy review was to begin on Tuesday, which would last for three days. During this period, mainly interest rates were to be decided. “MPC meeting scheduled to be held on September 29, 30 and October 1, 2020 is now being deferred,” RBI said in a press release. The…
Mumbai: In a statement on Sunday, the company said that it has substantially enhanced 4G capacity by consolidating the Vodafone and Idea networks and deployment of latest technologies enabling it to upgrade large chunks of 3G spectrum to 4G. “VIL will now be able to offer faster 4G data speeds to its 3G users on the Vi GIGAnet network. The company’s enterprise customers currently using 3G based services will be upgraded to 4G and 4G based IoT applications and services, in a phased manner,” it said. While the company will continue to offer basic voice services to its 2G users,…
The Confederation of All India Traders (CAIT) which is an apex body of trading community of the Country and known for its pro-India approach in domestic trade of India has called upon Union Commerce Minister Shri Piyush Goyal to roll out E Commerce policy of the Government at an early date to put curbs on mal-practices of large e-commerce players in India. While appreciating the call of Prime Minister Narendra Modi for vocal on local and Atmnirbhar Bharat, the CAIT said that Indian e commerce ecosystem has been greatly vitiated by large e-commerce companies and in the wake of steep…
New Delhi: Ministry of Finance may provide capital support to public sector banks in the third quarter of the current financial year. In the recently concluded session of Parliament, funds worth Rs 20,000 crore have been approved for public sector banks. Parliament has approved Rs 20,000 crore for public sector banks under the first batch of supplementary demand for grants for 2020-21. Sources said that banks may be provided with capital in the October-December quarter to meet the regulatory capital requirements, if required. Sources said that the second quarter results of banks will give an idea of which bank needs…
Chennai: Stating that the small private sector bank Dhanlaxmi Bank which had turned around is back to old ways C.H. Venkatachalam, General Secretary, All India Bank Employees’ Association (AIBEA) said: “We strongly believe that RBI’s role in the Board of Directors of the Bank should be reviewed as otherwise RBI would become answerable if things go bad.” In a letter to Shaktikanta Das, Governor, RBI on Saturday Venkatachalam said: “If Reserve Bank of India does not effectively intervene in the affairs of this Bank now, once again the Bank will run into problems. Slowly, the people and the customers of…
New Delhi: In his message to the shareholders, in the company’s Annual Report, Managing Director Dilip Shanghvi said that R&D is imperative for any pharmaceutical company’s future and its focus is to continue investing in R&D to develop differentiated generics and innovative specialty products. “Our global generic business requires a constant flow of new products, and hence R&D capabilities to develop such products and meet the individual requirements of each market are very important,” he said. He also noted that R&D is also vital for strengthening the company’s global specialty pipeline. “It is a key determinant of the future growth…