Thursday, 19 May, 2022
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Economy

RBI discovers over Rs 32 billion-worth bad loans at Yes Bank

The RBI assessed that Yes Bank’s non-performing assets stood at Rs 111.6 billion as of March 31, more than the Rs 78.8 billion the bank had disclosed for the year.

Why the sun stopped shining for Shapoorji Pallonji Group after its solar firm IPO

Listing the solar business was part of Shapoorji Pallonji Group’s deleveraging plan. That it has gone so badly may affect the next attempt to slim down.

India is clearly heading for GDP growth below 5%

Economists at SBI, Nomura & Capital Economics have lowered their growth forecasts for quarter ended September to between 4.2% and 4.7%.

Mukesh Ambani’s Reliance overtakes BP, breaks into club of 6 global oil supermajors

Reliance’s market value has surpassed BP and it’s also narrowing the gap with PetroChina Co., currently Asia’s biggest oil company by market cap.

Boeing 737 Max gets a boost with orders for 50 planes at Dubai Airshow

Kazakhstan’s Air Astana signed a letter of intent for 30 Max jets, Boeing announced, while an undisclosed customer bought 20.

No festive cheer for auto sector, data shows 2% contraction in vehicle registrations

Vehicle registrations contracted by 2 per cent to 24.17 lakh units this festive season. Contraction also seen in two-wheeler segment.

How shutting down of 1 plant turned India from copper exporter to importer in under 2 years

Sterlite Copper’s Thoothukudi plant was shut down by Tamil Nadu govt after resident protests in May 2018. India has since become a net importer.

Delhi’s toxic air is also silently hurting India’s slowing economy

Pollution is now being counted among the hidden costs like repelling top corporate talent for India’s economy already hit by a sharp slowdown.

Tata Steel will axe 3,000 jobs across Europe to cut costs

Tata Steel’s European operations are facing unprecedented severe market conditions & other steps will also be taken to cut costs.

Common sense wins in Essar Steel bankruptcy case, eases private equity fears

Essar verdict will rekindle hope in integrity of India’s bankruptcy process, but it will take a lot more work to allay concerns about its effectiveness.

On Camera

YourTurn

PT Pertamina Balongan refinery in Indramayu, Indonesia | Representational image | Bloomberg

Asian refiners to ramp up gasoline exports to US as sky-high prices beckon

In Asia, gasoline margins have doubled to more than $33 a barrel since the end of March and have edged above those for diesel, which have eased from a peak in early May.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

India to ink ‘repeat order’ deal for 73,000 SiG 716 rifles from the US

In February 2019, 72,400 SiG 716 rifles of 7.62 x 51mm calibre were contracted from SIG Sauer Inc, USA, under government's 'Buy (Global) category', through fast track procedure.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.
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