The Times of India - Business

Foreign inflows into Asian bonds more than double

Mon, 19 Oct 2020 21:47:25 GMT

Foreign investors poured over $1 billion into Asian government and corporate bonds in September, more than doubling their investment in local currency debt from the previous month, attracted by higher yields and some signs of economic recovery.

Meet 75% of capex target by Dec: FM to large CPSEs

Mon, 19 Oct 2020 20:31:55 GMT

Finance minister Nirmala Sitharaman on Monday exhorted large central public sector enterprises (CPSEs) to achieve by December 75 per cent of their planned capital expenditure (capex) target for 2020-21, to support economic growth hit by the Covid-19 crisis.

Haven't ruled out possibility for another stimulus: FM

Mon, 19 Oct 2020 19:23:21 GMT

Finance minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP (gross domestic product), even as she did not rule out the possibility of another stimulus to boost growth.

Nokia to build mobile network on the moon

Mon, 19 Oct 2020 19:12:22 GMT

Struggling to get a phone signal at home on planet Earth? Perhaps you'll have better luck on the moon. Nokia has been selected by NASA to build the first cellular network on the moon, the Finnish company said on Monday, as the US space agency plans for a future where humans return there and establish lunar settlements.

'All-India 5G rollout may cost over Rs 1L cr'

Mon, 19 Oct 2020 18:42:10 GMT

Investment in key components of 5G network on mid or low-band spectrum with pan-India coverage is estimated to be about Rs 1.3-2.3 lakh crore, according to a report by Motilal Oswal Financial Services. The total capital expenditure or capex requirement when it comes to 5G rollout for Mumbai alone is seen at Rs 10,000 crore, and Rs 8,700 crore for Delhi, it said.

India second largest source of new migrants to Oecd countries

Mon, 19 Oct 2020 16:39:27 GMT

India has emerged as the second largest source country both in terms of the ‘total’ inflow of new migrants to Organisation for Economic Co-operation and Development (Oecd) countries during 2018 and also as regards the number of Indians acquiring citizenship of these countries.

'Govt must not neglect bank recap despite pandemic'

Mon, 19 Oct 2020 15:57:26 GMT

India is neglecting bank recapitalisation as it focuses on debt moratoriums and interest waivers for borrowers amid the Covid-19 pandemic, a former central bank official told Reuters on Monday. Banks are saddled with over $120 billion in bad debt, and in severely stressed conditions the bad-loan ratio could nearly double by March, according to Reserve Bank of India (RBI) projections.

AI bid deadline may be extended till December 15

Mon, 19 Oct 2020 14:56:57 GMT

To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15.

Sensex settles 449 points higher at 40,432; Nifty ends above 11,850

Mon, 19 Oct 2020 13:45:42 GMT

Equity indices finished higher on Monday with the benchmark BSE sensex rising nearly 450 points led by gains in banking stocks amid positive global cues. The 30-share BSE index surged 449 points or 1.12 per cent to close at 40,432; while the broader NSE Nifty finished 111 points or 0.94 per cent higher at 11,873.

'Covid-19 accelerating innovation in mobility'

Mon, 19 Oct 2020 12:54:50 GMT

The Covid-19 pandemic is accelerating innovations in the urban mobility and transportation business with a push towards electric vehicles and subscription-based ownership models, said Bhavish Aggarwal, CEO and co-founder of ride-hailing major Ola.

BoB completes tech integration of Vijaya Bank

Mon, 19 Oct 2020 12:45:01 GMT

Customers of the erstwhile Vijaya Bank, which along with Dena Bank had merged into Bank of Baroda last year, can now avail all the products and services of Bank of Baroda with the technology integration being completed.

'Govt asks 8 state-run cos to consider buybacks'

Mon, 19 Oct 2020 12:27:04 GMT

The government has asked at least eight state-run companies to consider share buybacks in the current fiscal year that runs through March, 2021, two government officials said.

Changes being made in all sectors for country's growth: PM Modi

Mon, 19 Oct 2020 10:34:26 GMT

Prime Minister Narendra Modi on Monday said necessary changes are being made in every sector to ensure growth and to make this decade India's. "In the last 6-7 months you might have seen the speed and the ambit of reforms are increasing. Whether it is agriculture, space, defence, aviation or labour. In every sector necessary changes are being made for growth," Modi said.

IT companies hiring plunges, but recovery expected in H2

Mon, 19 Oct 2020 09:51:27 GMT

The top four IT services companies hired just 12,258 people in the first half of the fiscal, down from 54,002 in the same period last year, as the pandemic hit demand and companies took measures to rein in costs.

Festive e-sales get electronics, non-metro push

Mon, 19 Oct 2020 02:00:00 GMT

Festive sales on e-commerce platforms have made a strong start with the first 48-hour sales trends in line with record number estimates for this year’s season, according to Forrester. Flipkart and Amazon India saw most new shoppers coming from non-metros and wider adoption of consumer-financing products like EMIs to make these purchases.

FDI with even the smallest Chinese holding will need govt nod

Sun, 18 Oct 2020 22:41:03 GMT

Foreign direct investment (FDI) proposals with even minuscule Chinese holding will need government approval, with the Centre abandoning its earlier plan to set a floor for “significant beneficial ownership”.

Go 'swadeshi', end imports and increase exports: Gadkari

Sun, 18 Oct 2020 20:40:57 GMT

Union minister Nitin Gadkari on Sunday made a pitch for 'swadeshi' (indigenous) production and said imports need to end, while exports should increase.

India set to lose Farzad-B gas field in Iran: Sources

Sun, 18 Oct 2020 19:23:58 GMT

India has all but lost the ONGC Videsh Ltd-discovered Farzad-B gas field in the Persian Gulf after Iran decided to prefer domestic companies over foreign firms for development of the field, sources said.ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), had in 2008 discovered a giant gas field in the Farsi offshore exploration block.

Government open to more steps to boost economy: Anurag Thakur

Sun, 18 Oct 2020 19:18:46 GMT

Sellers from tier II towns see jump in orders in festive sale

Sun, 18 Oct 2020 18:20:33 GMT