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Economy

Mukesh Ambani

Mukesh Ambani’s net worth drops 28% in 2 months as Covid-19 disrupts economy

The Indian market was corrected by 25% in the last two months as the economic costs and impact of the pandemic on companies led to a sell off across the world.
New York Stock Exchange

It could take three years for US economy to recover from Covid-19

According to a new report from McKinsey & Company, the economic impact in the US could exceed anything experienced since the end of World War II.
Representational image. An employee holds a Samsung Electronics Co. Galaxy Fold smartphone at the company's D'light flagship store in Seoul, South Korea | Photo: SeongJoon Cho | Bloomberg

Samsung will offer the first clue on how badly Covid-19 will hurt global tech firms

Samsung unveils preliminary earnings Tuesday & paint a picture of how the pandemic impacted the global tech industry in 2020’s first three months.
A man stands outside the Bombay Stock Exchange building in Mumbai | Dhiraj Singh/Bloomberg

Foreign portfolio investors withdraw record Rs 1.1 lakh crore from Indian markets in March

The outflow of funds in March amid the Covid-19 pandemic comes after 6 consecutive months of investment by FPIs.
FM Nirmala Sitharaman

Centre credits Rs 500 to Jan Dhan accounts of over 4 crore women as lockdown relief

Finance Minister Nirmala Sitharaman had earlier said that ex-gratia payment of Rs 500 would be credited to female Jan Dhan account holders for the next three months.
A screen displays a broadcast of the Reserve Bank of India (RBI) Governor Shakitanka Das inside the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. The RBI cut interest rates and announced steps to boost liquidity in a stimulus worth 3.2% of gross domestic product to counter the economic impact of the coronavirus outbreak | Dhiraj Singh/Bloomberg

Modi govt is seeking $6 billion of loans to fight coronavirus

The World Bank has already committed $1 billion and Modi govt is in talks with Asian Infrastructure Investment Bank and ADB for more.
The Bombay Stock Exchange

Sensex falls 674 pts as banking stocks slide, Nifty tumbles below 8,100

Axis Bank was the top loser in the Sensex pack, cracking over 9%, followed by IndusInd Bank, ICICI Bank, Titan, SBI, Maruti, HDFC and Asian Paints.
Representational image | Pixabay

Airbnb may become obsolete depending on recovery of tourism after Covid-19 crisis

Bookings on Airbnb slumped from 96% to 41% this year due travel restrictions imposed by many countries in view of the pandemic.
(Photo for Representation)

This is what you need to do if you want to pay, or not pay, your loan EMI for 3 months

Processes vary from bank to bank with some asking customers to write to them to avail the moratorium, while others asking borrowers to inform them to opt out.
Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

States want Modi govt to release grants and GST dues, raise borrowing limits to fight crisis

A sharp increase in health and social welfare expenditures to battle Covid-19 and protect the poor and vulnerable has adversely affected state finances.

On Camera

A pedestrian crosses a nearly empty street in the Times Square neighborhood of New York, US | Bloomberg

We must not return to work for now. Covid’s not over yet, says a virologist in letter to son

If everyone goes back to work as soon as the ‘curve bends downwards’, it's guaranteed you'll get a second wave of infections in Europe.

Is forcing private labs to make Covid-19 tests free the only way to stop spread of infection?

The Supreme Court directed the central government to make Covid-19 testing by private laboratories free of charge Wednesday.

Defence

Col Navjot Singh Bal | special arrangement

Col Navjot Singh Bal, Shaurya Chakra awardee and icon for many, loses battle with cancer

Despite losing an arm to cancer, Col Navjot Singh Bal continued to serve in 2 Para as the commanding officer and even learnt to fire with his left hand.

Poke fun at taali, thaali, diya and mombatti all you want. Modi couldn’t care less

Modi knows who he needs to speak to, who he should toss, who he can address in kind. People accuse him of infantilising his voters, but it’s a winning strategy.