Business

 VoV Web Desk

Economy bears burden as goods trains travel light

Economy bears burden as goods trains travel light

Railway freight statistics are a good indicator of the overall state of an economy. In April, the amount of freight moved by Indian Railways was 65.4 million tonnes, down 35.3% from a year ago. Mint explains India’s economic story in a world battered by the covid-19 pandemic. What’s rail freight got to do with economy? Indian Railways […]

 VoV Web Desk

IndiGo to cut salaries of senior employees from May

IndiGo to cut salaries of senior employees from May

New Delhi: IndiGo will be cutting the salaries of senior employees from May onwards and also implement a “limited, graded leave without pay program” for the months of May, June and July, its CEO Ronojoy Dutta said on Friday. India has been under lockdown since 25 March to curb the coronavirus pandemic. The aviation industry is […]

 VoV Web Desk

WhatsApp Pay to finally launch in India by May-end: Report

WhatsApp Pay to finally launch in India by May-end: Report

WhatsApp Pay has been running in India in beta testing for over two years now. The payments method hasn’t been able to launch officially in India due to some roadblocks. It is now reported that WhatsApp Pay will be official in India by May-end. According to a report by Money Control, WhatsApp Pay will be available […]

 VoV Web Desk

After Facebook, Silver Lake invests Rs 5,656 crore in Jio Platforms

After Facebook, Silver Lake invests Rs 5,656 crore in Jio Platforms

Within days of Facebook’s Rs 43,574 crore deal, Silver Lake – one of the world’s largest tech investors – on Monday agreed to invest Rs 5,655.75 crore to buy a 1.15 per cent stake in billionaire Mukesh Ambani’s digital unit that houses India’s youngest but biggest telecom firm. The investment in Jio Platforms is at a […]

 VoV Web Desk

11 crore jobs, 30% of GDP: Small enterprises pushed to brink amid looming distress, despair

11 crore jobs, 30% of GDP: Small enterprises pushed to brink amid looming distress, despair

From a Delhi-based machine-part manufacturing enterprise which can’t pay its 24 workers to a paint-maker in Pune fresh out of insolvency but facing a funds crunch, a start-up which got a Rs 90-lakh order to make masks but is waiting for banks to give credit, to a Ludhiana export unit whose bills haven’t been cleared […]

 VoV Web Desk

Slowdown in Hindustan Unilever’s volume growth pre-lockdown a big worry

Slowdown in Hindustan Unilever’s volume growth pre-lockdown a big worry

Hindustan Unilever Ltd’s (HUL’s) March quarter results were supposed to provide clues about the impact of the country-wide lockdown on the country’s largest consumer staples firm. But as far as investors go, a bigger worry has surfaced in the company’s results announcement. The company announced a massive 7% drop in underlying volume growth in the […]

 VoV Web Desk

Franklin Templeton shuts 6 Indian debt funds as lockdown hurts liquidity

Franklin Templeton shuts 6 Indian debt funds as lockdown hurts liquidity

Mumbai: One of the first global financial firms to launch asset management operations in India more than two decades ago is taking unprecedented steps to lock in investor money as the coronavirus pandemic worsens credit market strains. Franklin Templeton is shutting six fixed-income and credit-risk funds run by its Indian unit, locking in 308 billion rupees […]

 VoV Web Desk

World Bank Says Remittances To India Likely To Drop By 23% Due To COVID-19

World Bank Says Remittances To India Likely To Drop By 23% Due To COVID-19

Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due […]

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RBI Launches Sovereign Gold Bond Scheme FY 2021 Amid COVID-19 Pandemic

RBI Launches Sovereign Gold Bond Scheme FY 2021 Amid COVID-19 Pandemic

The first tranche of Sovereign Gold Bond (SGB) scheme FY 2021, launched by the Reserve Bank of India (RBI) on Monday is expected to get good response in these uncertain times due to the COVID-19 pandemic. The pandemic has brought the economic activities at a standstill across the globe as 90 per cent of the […]

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Explained: What explains crude oil prices falling below the $0 mark

Explained: What explains crude oil prices falling below the $0 mark

US oil markets created history on Monday when prices of West Texas Intermediate (WTI), the best quality of crude oil in the world, fell to “minus” $40.32 a barrel in New York. Not only is this the lowest crude oil price ever known — according to Bloomberg, the previous lowest was immediately after World War […]