iPhone supplier Foxconn has halted production at its China headquarters and Shenzhen sites following COVID-19 lockdown in the region imposed and consequent closure of all non-essential businesses till March 20, media reports said.
Monetary expansion or printing of money: Uday Kotak on ways to revive COVID-19-hit economy
Mumbai/New Delhi/IBNS:Kotak Mahindra Bank CEO, Uday Kotak, has proposed a few ways to the central government to carve a path out of the economic downslide caused by COVID-19 pandemic and subsequent lockdown.
India's crude oil imports to drop in May as lockdown restrictions hit oil demand: Report
New Delhi/IBNS: Indian refiners are likely to reduce crude imports in May amid the second wave of coronavirus infection in contrast to April when refiners met all their import commitments but the the full impact of the crisis will get reflected only in May numbers, according to S&P Global Platts Analytics.
India's power consumption rose 19 pc in first fortnight of May compared to 2020
New Delhi/IBNS: India's power consumption rose by nearly 19 per cent in the first fortnight of May to 51.67 billion units (BU) compared to the same period previous year, reflecting recovery in industrial and commercial demand of electricity, power ministry data showed.
India in 'technical recession' as RBI predicts GDP contraction of 8.6% for July-Sept quarter
New Delhi/IBNS: India's central bank on Thursday said the country has likely entered into a technical recession besides predicting a contraction in Gross Domestic Product (GDP) of 8.6% in the July-September quarter, media reports said.
Electric two-wheeler industry on path of recovery: SMEV
Mumbai/UNI: Electric two-wheeler industry is showing signs of revival, says Society of Manufacturers of Electric Vehicles.
Petrol, diesel demand nosedives in first half of July: Report
New Delhi/IBNS: State-run oil refineries registered a sharp decline in petrol, diesel sales in the first of half of July as rise in retail prices and renewed coronavirus triggered lockdown in several parts of the country hit demand, said a Reuters report.
Passenger vehicle sales drop by 50 pc in June amid coronavirus lockdown
Mumbai/IBNS: Car and sports utility vehicle (SUV) sales in the country dropped 49.59 per cent last month compared to the same period last year, said Society of Indian Automobile Manufacturers (SIAM) as coronavirus induced lockdown worsened the prevailing weak demand, said a media report.
Housing sales crash 66% in India in Q2 due to COVID: Study
Kolkata/UNI: In a report released by PropEquity, India’s leading real estate data, research and analytics firm, sales or absorption of housing units dropped by 66% across top 9 cities in India in the second quarter of 2020 to 21,294 units versus 62,851 units in Q1 2020.
-1591795647.jpg "ParleG records unprecedented sales during the lockdown period; Twitter applauds with #BharatKaApnaBiscuit")
Mumbai/IBNS: Parle G, the biscuit brand which has been a favourite of the masses since decades, recorded unprecedented sales during the lockdown period, said a senior company official, according to media reports.
Tata Sons is not looking to monetise its investments to raise capital: N .ChandrasekaranÂ
Mumbai/IBNS: Tata Sons chairman N .Chandrasekaran on Friday said the company is not looking to monetise its investments to raise capital.
Global oil supply to fall to 9-year-low in May as OPEC+ deal takes effect - IEA
Moscow/ Sputnik: Global oil supply will fall in May to a nine-year-low of 88 million barrels per day, as the new OPEC+ oil production cuts deal will take effect, the International Energy Agency (IEA) said on Thursday.
What to expect from Centre's Rs. 20 lakh crore economic package: Report
New Delhi/IBNS: Union Finance Minister Nirmala Sitharaman at 4 pm on Wednesday will share the details of the mega stimulus economic package worth Rs. 20 lakh crore announced by Prime Minister Narendra Modi last night.
Lockdown Impact: IIP for March shrinks by record margin of 16.7%
New Delhi/ IBNS: India's factory output shrank by a record 16.7 per cent in March 2020 as a result of minimal economic activity due to nationwide lockdown imposed to contain the spread of coronavirus.
COVID-19 economic impact: CII bats for an immediate stimulus package of Rs 15 lakh crore
New Delhi/IBNS: Top industry body The Confederation of Indian Industry (CII) on Friday said a stimulus package of Rs 15 lakh crore is needed to tackle the impact of a prolonged lockdown on the country's economy.