Business

Online payments slowly gathered pace from May, with staggered opening of the economy. In May, the number of UPI transactions stood at 1.23 billion valued at Rs 2.18 lakh crore, showed the NPCI data.

There have been growing calls from India for a boycott of Chinese products, after a border clash between the neighbours last month killed 20 Indian soldiers.

Nearly 75 per cent of the telecom equipment is sourced from and provided by two major players — ZTE and Huawei, both Chinese companies.

Sebi has eased compliance requirement with regard to processing of the demat request form by issuer or registrar of share transfer agent and depository participants.

Stressing that PPE has export potential, he said that people are getting orders for PPE kits from Dubai, Canada, the US and European countries.

Palaniswami, after chairing official meetings to review anti-COVID-19 measures and other projects said the government would help people to the maximum possible extent.

The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around $490 million.

The IMF said while banks entered the crisis with higher liquidity and capital buffers, insolvencies will test the resilience of the sector.

Already loss making, the outbreak shut the door on a rebound as sales plunged after restaurants were forced to close as lockdowns were put in place.

According to a price notification of state oil marketing companies, petrol price was unchanged after 17 consecutive increases, while diesel rates were hiked by 48 paise per litre, the 18th daily increase in a row across the country.

The IMF predicts that the global economy will shrink 4.9% this year, significantly worse than the 3% drop it had estimated in its previous report in April. It would be the worst annual contraction since immediately after World War II.

In April, Facebook announced an investment of $5.7 billion (Rs 43,574 crore) in Jio Platforms. The acquisition was to be done through Jaadhu Holdings LLC.

The Union Cabinet approved the scheme for interest subvention of 2% to Shishu loan category borrowers under PMMY, outstanding as on March 31, 2020, for a period of 12 months to eligible borrowers, Information and Broadcasting Minister Prakash Javadekar sa...

Gold has gained nearly 16% this year supported by global stimulus measures since the non-yielding metal is considered a hedge against inflation and currency debasement.

In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed.

The comments came after US President Donald Trump issued a proclamation to suspend issuing of H-1B visas along with other foreign work visas for the rest of the year.