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Some economic indicators showing signs of stabilisation, but recovery not ‘fully entrenched’: RBI Governor

The fragility and vulnerability of the NBFC sector is the main concern here and they are still not at par with banks in the matter of regulation. “We don’t want a repeat of the crisis in another N

Das added that while some economic indicators are showing signs of stabilisation, the recovery is not yet “fully entrenched”.

Unlikely buyer: Tenfold jump in iron and steel exports to China

Iron and steel exports defied the Covid-19 impact to post a double-digit rise from April to July, but over a fourth of the metals were despatched to an unlikely buyer — China, the biggest steel prod

Jet Airways CoC meets today to discuss bids

FE had reported earlier that two bidders had submitted “revised” resolution plans, as lenders were unhappy with the earlier proposals.

Jet Airways had earlier attracted 12 expressions of interest (EoIs) from suitors, which was further narrowed down to two prospective applicants.

70,000 jobs in Flipkart: E-commerce giant to go on hiring spree ahead of Big Billion Days sale

“The expansion and strengthening of the supply chain will help create a robust system enabling millions of new e-commerce users to shop online seamlessly,” Flipkart said.

Flipkart, which received a fresh $1.2-billion investment from Walmart in July, said its delivery network covers 100% serviceable PIN codes ranging from Nagaon in Assam to Kannur in Kerala.

Investments in start-ups: House panel proposes removal of LTCG tax for two years

Domestic start-ups witnessed 40 Series A deals worth $156 million during the period, sharply lower than the 66 worth $421 million between December and March, according to Venture Intelligence data.

The angel tax is typically an impost on the extra capital raised by an unlisted firm through the issue of shares over and above their fair market value.

Be self-reliant, ease curbs on AIFs to boost start-up funding: Parliamentary Standing Committee

Large financial institutions in India should also be encouraged to channelise a proportion of their investible surplus into domestic funds, which would bring in additional local capital for startup in

Banks should also be allowed to invest in Category-III alterate investment funds (AIF).

Serum CEO: Not enough Covid vaccines till 2024

Poonawalla told FT that if the vaccine, like the one for measles or the rotavirus, was a two-shot one, 15 billion shots will be required.

In an interview to Financial Times, Adar Poonawalla, chief executive of Serum Institute, the world’s largest vaccine producer, has said it will take till the end of 2024 for everyone in the world to be inoculated.

EPS overhaul: Personal pension accounts on the cards

The plan requires roughly a third of the total Employees’ Provident Fund (EPF) contribution on behalf of new employees with a monthly salary above Rs 15,000, to go to their personal pension accounts

Currently, the government is believed to be sanctioning about Rs 6,000 crore annually to the EPS pool.

Netflix, Facebook, WhatsApp don’t need regulation, says Trai; does not rule out future intervention

In its recommendations submitted to the department of telecommunication (DoT) on Monday, the regulator also rejected the need for any regulatory interventions in respect of issues related with privacy

However, Trai has earlier brought in regulation in some other aspects which touches OTT services like maintenance of net neutrality and stopping discriminatory tariffs.

Covid-19: Several cities are running out of hospital space

In a suo-motu statement in Parliament on Monday, Union health minister Harsh Vardhan said the number of dedicated isolation beds in the country had increased 36.3 times since March 2020 while the numb

Nirmala Sitharaman goes for extra spending of Rs 2.36 lakh crore amid calls for stimulus

This implies the government may look at expanding the budget size for the year from the estimated Rs 30.4 lakh crore, though a precise estimate of the expansion will be clear only later.

Dream11 raises fresh $225 million in funding led by Tiger Global, TPG, ChrysCapital

The capital will come in handy to sponsor the 13th edition of the Indian Premier League(IPL) for which Dream11 had a bid of Rs 222 crore.

Clipping wings: Cap on airport ownership likely

After Adani won all 6 airports in previous round, new rules may be enforced before next round of privatisation

In the last round of airport privatisation in 2019, the Adani Group had bagged all the six airports and recently the government completed the exercise of awarding all of them on lease to it.

Unsteady economy: With demand outlook still hazy, firms are hesitant to hire permanent workers

With the economy contracting, Payoneer says 135 million jobs may have been lost leading to a 35% rise in unemployment and that has prompted many more to take up gig jobs.

Also, companies want to bring in specialised skill sets for a variety of roles,” Moraje explained.

Highs and lows: More listeners tune in to radio but advertisers switch off

Calling the recovery, “tentative”, Entertainment Network India CEO, Prashant Panday points out that “even in August industry revenues were down between 30-50% y-o-y.”

While radio did experience a surge in listenership during the intense lockdown months — up nearly 30% according to an industry body — monetising this has been a challenge.

Covid-19 tally in India: Are some states hiding death numbers despite rising cases?

Coronavirus deaths in India: On Friday, as India added 95,735 cases and registered 1,172 deaths, the country’s case fatality rate dipped to 1.68%. Another reason for the dip in case fatality rate ma

At the start of the pandemic, hospitals were overflowing and there was no cure but, over time, management has gotten better.

Relook: Telecom panel may reduce spectrum prices for auction

Sources indicated to FE that though the Telecom Regulatory Authority of India has not lowered the reserve price despite the DoT’s request for a review, the government’s inter-ministerial panel may

There are two reasons due to which the panel may look at reducing the reserve price.

Covering dues: Special loans for discoms raised to Rs 1.2 lakh crore

The Centre had announced the scheme to clear the dues owed by discoms to the power generating companies till March, but several states, citing the discoms’ additional stress due to the coronavirus l

Overdues — receivables pending for more than 60 days — to gencos by discoms stood at `1.16 lakh crore on June-end.

Covid-19 continues to surge in Maharashtra; Here’s why the state is recording more Coronavirus infections

Coronavirus cases in Maharashtra: Globally, Maharashtra is the province with highest number of infections. In terms of deaths, it would rank tenth in the world.

On September 13, the daily growth rate in infections in Maharashtra at 2.3% was higher than Tamil Nadu’s 1.3%.

Gujarat’s success against Covid-19! Ahmedabad’s Coronavirus positivity rate dips below 1%

Coronavirus cases in Ahmedabad: Ideally, more testing should lead to more infections—in Tamil Nadu, the positivity rate or new infections upon new tests has stayed constant in the 10-11% range—in

My appointment will bring about much-needed diversity: Valli Arunachalam 

In an e-mail interaction, Arunachalam said if given a board representation she would exercise her duties with due and reasonable care, skill, and diligence.

Covid-19 vaccine trials resuming, says AstraZeneca

The late-stage trials of the experimental vaccine, one of the most advanced in development, were suspended this week after an illness in a study subject in Britain.

“The UK committee has concluded its investigations and recommended to the MHRA that trials in the UK are safe to resume.”

5G spectrum: Chinese vendors like Huwaei and ZTE out, but trials still not on

The government had in July decided to bar companies based in countries sharing land border with India from any government procurement and contract.

The industry was agreeable to the government's decision and had expected that the permissions would be granted soon, but more than a month has passed and no approval has come.

Start-up ecosystem ranking: Gujarat tops the list, Karnataka No. 2

Gujarat was the "best performer" among states for its robust start-up eco-system, follwed by "top performers" Karnataka and Kerala in 2019.

start up, start up ecosystem ranking, gujarat, karnataka, start up best performers

Covid fallout: More eateries could shut shop as customers continue to stay away

“Delivery cannot be the mainstay. We did contemplate shutting a few more outlets but so far our landlords have been supportive,” says Mukherjee. However, the company has had to let go of some empl

In the organised sector, it is the dine-in segment that brings home the bacon.

Capex crawls: Despite lower tax revenue, states give timely leg-up to public spend

Despite tax revenue falling by a fifth, 10 states reviewed by FE reported 7% expenditure growth in Apri-July

In recent years, public capex has been roughly in the 5:5.5:3.5 ratio among the CPSEs, states (budget) and the Centre (budget).

Mild recovery: IIP drops 10.4% in July; bumpy road ahead

Manufacturing contracted 11.1% in July, against a 19.6% fall in the previous month, while mining dropped by 13%, against a 16% decline in the previous month.

However, while the contraction in output narrowed from a record 57.3% in April, the relative recovery since June was milder than expected and pointed to a bumpy road to a sustained and strong recovery.
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