Monday, Mar 01, 2021 | Last Update : 07:38 PM IST

  Business
ADVERTISEMENT
ADVERTISEMENT

Economy

GST collections improve in Oct. 2020

GST collections cross Rs 1L crore for the first time after COVID-19 hit India

The revenues collected for the month are 10 per cent higher than the GST revenues in the same month last year

 Union Finance Minister Nirmala Sitharaman chairs the 41st GST Council meeting via video conferencing, in New Delhi, Thursday, Aug 27, 2020. MoS for Finance Anurag Thakur and Finance Secretary Ajay Bhushan Pandey are also seen.

Centre writes to states on options of borrowing money to meet GST revenue shortfall

Compensation payment has been an issue since August 2019 with GST collections faltering. I

Representational image. (PTI)

Manufacturing PMI expands to 13-year high in October, signals economic recovery

The survey, however, showed that the Asia’s third-largest economy was signalling a fast recovery

Hospitality sector coming back on track?

Hospitality industry sees signs of revival in September

Revenue per available rooms grew 12 to 14 per cent month-on-month to Rs 815 – Rs 935, as per the data from HVS and Anarock.

 IMF chief Kristalina Georgieva. (AFP Photo)

Not out of the woods yet: IMF chief warns second wave of virus could disrupt economies

Activity has started to gradually strengthen, but we are not out of the woods yet, Georgieva said in a message to G20 finance ministers

Market

 Gold rises by Rs 97, silver almost flat . (AFP Photo)

Gold price rises to Rs 54,830, silver falls to Rs 66,855 per kg

In the international market, gold was quoting marginally lower at USD 1,975.4 per ounce, while silver was flat at USD 24.31 per ounce

 Six of 10 most valued companies lose Rs 1.38 lakh cr in market valuation. (PTI Photo)

Six of 10 most valued companies lose Rs 1.38 lakh crore in m-cap; RIL top loser

The market valuation of Reliance Industries Limited (RIL) plunged by Rs 50,239.78 crore to Rs 13,10,323.21 crore

 Sebi proposes to relax minimum public shareholding norms for firms under insolvency. (PTI Photo)

Sebi to relax public shareholding norms for firms under insolvency

Sebi has sought views of public and market intermediaries till September 18 in this regard

 Oil prices struggle to hold five-month high amid pandemic worries. (AFP Photo)

Oil prices struggle to hold five-month high amid growing demand fears

Investors remained wary of rising refined product inventories at a time when US bankers said rise in cases was slowing the economic recovery

Companies

  Reliance Retail runs more than 10,000 stores selling apparel, groceries and electronics across India. (AFP Photo)

Amazon may buy 40% stake In Reliance Retail for $20 billion

Amazon has held talks about investing in Reliance Retail and expressed interest in negotiating deals but has made no decision, report said

 Reliance to buy Future Group's retail arm for $3.38 billion. (PTI Photo)

Reliance to acquire Future Group's retail business for Rs 24,713 crore

Reliance’s retail operation runs close to 12,000 stores, including a cash-and-carry wholesale business, in over 6,700 towns and cities

Representational image (AFP)

When things go back to normal, pharma may come down to earth

The healthy performance in Q1FY21 is attributed to strong revenue growth in the API business

SAIL ferro alloy plant in Chandrapur (Image credit: www.sail.co.in)

SAIL planning to set up India's first gas-to-ethanol plant in Chandrapur

It would cost around Rs 400 crore for to set up the plant, of which 20 per cent 'viable gas funding' will be provided by the government

 Walmart's Flipkart eyes alcohol delivery foray with Indian startup, letters show. (PTI Photo)

After Amazon, Flipkart partners with Diageo-backed HipBar for alcohol delivery

Flipkart and Amazon’s interest in delivering alcohol in India marks a bold move to make inroads into alcohol market worth $27.2 billion

Autos

 Ducati Panigale V2 bookings open in India. ( Photo- ducati.com)

Ducati India open bookings for 2020 Panigale V2 ahead of launch

Unlike the outgoing model, the Panigale V2 features a single-sided X and a moulded around refined monocoque frame, the company said

FCA is now present in the country only through its Jeep brand and Maserati, and PSA has made an announcement to enter the market with a mid-sized Citroen SUV next year, and its DS brand.

Fiat Chrysler, PSA merger to impact Indian car ops

Auto analysts said there would certainly be leveraging of synergies between the two in this promising but highly competitive automobile market.

 India’s auto sales volume will take another 3-4 years to reach 2018 levels. (PTI Photo)

India's auto sales volume will take 3-4 years to recover: SIAM

“Production has been slow to pick up due to supply chain disruption and weak demand,” said Rajan Wadhera, president, SIAM

 Bajaj is facing supply chain issues at its plants in India due to lockdowns imposed by local governments. (PTI Photo)

Bajaj Auto focuses on exports as India battles COVID-19 pandemic

Between January and June, it exported 6,64,000 motorcycles while selling 5,89,000 in India, company data showed

In Other News

 Callers will soon be required to add '0' prefix for making calls from landlines to mobile phones in the country.

Landline to mobile calls get zero prefix

DoT accepts Trai’s recommendation; Decision will come into force from January 1

 Suspension of scheduled international passenger flights extended till Sept 30. (PTI Photo)

DGCA extends ban on international passenger flights till September 30

The circular said suspension does not affect the operation of international all-cargo operations and flights specifically approved by DGCA

 New office space supply down 93pc, demand falls 73pc during Jan-Jun due to COVID-19. (Representative Image)

Demand for office space leasing falls 73% in first six months amid cramped supply

Vacancy levels rose to 20 per cent during the first half of 2020

 Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar. (PTI Photo)

ICICI Bank-Videocon case: Deepak Kochhar sent to ED custody till September 19

Officials said Deepak Kochhar was placed under arrest as agency wants to put him under custodial interrogation to obtain more details

 Indian telecom operators revenue grows strongly defying coronavirus, says Fitch. (ANI Photo)

Telecom operators' buck COVID-19 slowdown, reports strong revenue: Fitch

Data traffic surged by 20 to 30 per cent as the lockdown increased demand for data connectivity