Wednesday, Dec 02, 2020 | Last Update : 03:34 AM IST
Columns
India’s economy has contracted for six months since Prime Minister Narendra Modi called for the harshest lockdown in the world
The hardnosed men and women of the soil are not going to be overwhelmed by the PM’s rhetoric and sweet talk
Brics summits are rarely noticed by any international observer outside those from the member countries
Multiple events with geopolitical impact are compelling diplomats to scurry for meetings
Economy
UK economy slips into recession with record 20.4% contraction, job loss fears mount
Today’s figures confirm that hard times are here, finance minister Rishi Sunak said
Raghuram Rajan warns against 'unprecedented' rise in NPA levels in next 6 months
He said one positive factor for Indian economy is that the agriculture sector is doing well
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
Don't jump, Rs 2000 currency notes slowly being phased out
As per RBI's latest annual report, the big note was not printed at all during 2019-20
Government debt-to GDP ratio to be at 80% by FY30: Report
The report also finds that the government support to real GDP growth in the 2020s decade would be lower than in the past few years
Market
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
Indices extend loses for 4th day, Sensex plunges 667 points, Nifty below 10,900
Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent
Oil prices slip after OPEC, allies agree to loosen supply curbs
OPEC+ agreed on Wednesday to scale back oil production cuts from August as the global economy slowly recovers from the coronavirus pandemic
Merchandise exports continues to decline in August, trade deficit widens sequentially
In the month of August, merchandise exports stood at $22.70 billion as compared to $25.99 billion in August 2019
Companies
India's manufacturing activity gains momentum despite job losses
On the price front, the survey also observed that there was a softer and historically weak rise in input costs
Samsung heir's troubles multiply, charged with fraud in taking over reins of company
Lee Jae-yong, vice chairman of Samsung Electronics, committed stock manipulation, breach of trust and other offences, prosecutors said.
Anand Mahindra invests in Kerala startup making manhole cleaning robots
In addition to Anand Mahindra, the startup has two more investors, Unicorn Ventures which made the initial investment in 2018 and Sea Fund
6 of top 10 firms add Rs 1.6 lakh crore in m-cap; ICICI, Kotak Bank top gainers
The market valuation of ICICI Bank jumped by Rs 26,620.32 crore to Rs 2,82,550.05 crore, becoming the biggest gainer
Vodafone Idea rebrand as 'Vi' in fight for telecom market share
Vodafone Idea lost 4.7 million customers in May alone, while market leader Reliance Jio added 3.7 million
Autos
Maruti Suzuki India records 86% slump in May sales
Domestic sales declined by 88.93 percent to 13,888 units last month
Daimler Q2 loss widens on weak demand
CEO Ola Kallenius said it had worked to preserve cash reserves during a difficult time and was seeing “the first signs of a sales recovery”
Mylan Pharma to launch remdesivir in India at Rs 4,800 per 100 mg vial
The drug will be launched under the brand name Desrem in India and will be available to patients later this month
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
In Other News
IRDAI panel bats for lower capital, liberal norms for floating microinsurance companies
The changes would require amendments to the Insurance Act, 1938 to bring the standalone microinsurance business under its purview
IndiGo slashes pay up to 35% for senior employees
From May onwards, IndiGo had implemented pay cuts of up to 25 per cent for its senior employees
SC asks Centre, RBI to file Kamath panel suggestions, decisions on loan moratorium
Kapil Sibal said that he wanted to file a detailed affidavit to the Centre's reply as there are certain facts which need to be dealt with
Services activity falls for sixth month in August as COVID restrictions hurt business
Hoping to avert more economic damage, government said it planned to reopen underground train networks and allow sports and religious events
States may cut FY21 capex by Rs 3 lakh crore, says ICRA
ICRA has projected that the gap between the GST compensation requirement and the cess collections for FY21 will be Rs 2.9 lakh crore