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 […]
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 […]
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 […]
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 […]
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 […]
Sensex rises 400 points to 31,700 in opening session; Nifty advances 32 points to 9,299
Equity benchmark Sensex surged over 400 points in opening trade on Monday led by gains in index heavyweights HDFC twins and Infosys amid positive cues from global markets. After hitting a high of 32,056.47, the 30-share index pared some gains to trade 113.59 points or 0.36 per cent higher at 31,702.31. Similarly, the NSE Nifty […]
Netflix adds $50 million to relief fund for production workers
Netflix Inc has increased the amount of money in its coronavirus emergency relief fund by $50 million, bringing the total for displaced production workers to $150 million, a company spokeswoman said on Friday. Film and TV production has been shut down around the world as people shelter at home to help slow the spread of […]
Facebook launches online resource guide for educational communities
Facebook on Monday launched an online resource guide for educational communities on how to collaborate and continue the learning process using Facebook products, tools and programmes while also providing information related to COVID-19 from authentic sources. Currently, the guide is available in English, Hindi, Marathi, Gujarati and Kannada. In its first phase, Facebook has partnered […]
Record deal to cut oil output ends price war
Opec producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns. The deal, agreed on Sunday via video conference, is the largest cut in oil production ever to have been agreed. Opec+, made up of oil producers and allies […]
Covid-19 crisis is choking India’s MSME sector. Business won’t pick up even after lockdown
Finance minister Nirmala Sitharaman recently announced a series of measures for India’s industry as part of the Narendra Modi government’s effort to address the economic impacts of the coronavirus crisis and the resultant three-week nationwide lockdown. While the government’s package of Rs 1.7 lakh crore promises some relief for companies under various sectors, none of the measures specifically addressed […]
