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 […]
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 […]
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 […]
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 […]
