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Economy

A worker stands in front of steel tubes at the Steel Authority of India Ltd in Rourkela, Odisha | Dhiraj Singh | Bloomberg File photo

Output of 8 core industries contracts by 23.4% in May, negative growth in 7 sectors

Ministry of Commerce and Industry said coal, cement, steel, natural gas, refinery, crude oil industries experienced substantial loss of production due to Covid.
Boris Johnson | Twitter | @BorisJohnson

Boris Johnson vows ‘new deal’ to rebuild post-virus UK economy

According to extracts of his speech, the UK PM will compare his program to Roosevelt’s 'New Deal', which used govt spending to help US out of the Great Depression.

After lockdown punch, Indian companies are hit by Chinese shipments stuck at ports

Stopping Chinese imports will hurt businesses that placed orders before the border clashes, but the govt is working on resolving this, Union minister Nitin Gadkari had said.
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

Why hedge fund managers aren’t buying the rally in Indian stocks

The Sensex has rebounded 34% from its March low but the jury is still out with the IMF cutting India’s growth outlook by the most among all major economies.

Locust swarms spare Delhi but threaten Rs 40,000-crore sugarcane economy in UP

The swarms have hit various districts of western UP and the Bundelkhand region in the last 48 hours, prompting alerts in several places like Agra, Kasganj, Azamgarh, Chitrakoot and Jhansi.
Sunil Bharti Mittal

Sunil Mittal bids for bankrupt UK satellite firm OneWeb PM Johnson is trying to save

OneWeb makes low-Earth orbit satellites that provide high-speed communications. UK hopes it'll help build a new national navigation system.
Pedestrians

All products sold via any channel must state country of origin, demands traders’ body

In a letter to Commerce Minister Piyush Goyal, CAIT says details about the composition of products must be inscribed and violations must invite penalty.
Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

Tough times begin to recede, India’s rupee seen back at 75/dollar by end of year

The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.The prospect of a rare current-account surplus following robust foreign inflows & global oil-price collapse will help nudge the rupee higher, analysts say.
Corn grows in a field of a farm outside of Phulambri in Maharashtra (representational image) | Karen Dias/Bloomberg

Farmers unhappy as govt decides to lower maize & milk import duty amid falling local prices

The government has allowed import of 5 lakh MT of maize and 10,000 MT of milk under reduced duties, cites commitment to WTO. 

E-mobility is the best solution for both climate and economic crises

Transport accounts for 23 per cent of global energy-related greenhouse emissions. But existing electrification technology could cut down these emissions by 2050.

On Camera

Representational image | Beef steak | Pixabay

Meat-lover who wants to save the planet? 3D printed steaks are your solution

It can take up to 15,000 litres of water to produce a single kilogram of beef. But there is now a growing amount of interest in meat alternatives.
Representational image of Union finance ministry | ANI

This is what Modi govt wants 3 loss-making insurance firms to do to turn profitable

The Modi govt has attached conditions for its capital infusion into OlCL, NICL and UIICL, focussing on profitability and improving customer service.

Defence

Sig Sauer

Indian Army to order second batch of 72,000 Sig 716 assault rifles from US

The new rifles will replace the existing Indian Small Arms System (Insas) rifles used by the forces and manufactured locally by the Ordnance Factories Board.
Illustration by Soham Sen | ThePrint

Uttar Pradesh is India’s broken heartland, break it into 4 or 5 states

Uttar Pradesh, our largest state by population and most powerful, is also the worst governed. A state with 1-in-6 Indians has no hope because of its size.