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India likely to experience above-normal rainfall this monsoon: IMD
Climate scientists say the number of rainy days is declining while...
Sensex tanks over 900 points on concerns over Middle East conflict weak global trends
"There are many headwinds that will weigh on markets today: the...
Buoyant Indian stock markets to correct: RBI governor
“There is so much liquidity in the system, in the global economy, that’s why the stock market is very buoyant and it is definitely disconnected with the real economy,” Reserve Bank of India (RBI) Governor Shaktikanta Das said
ICICI Gen acquiers Bharti AXA Gen in an all- stock deal valued at Rs 4,200 crore
AXA and Bharti to combine their non-life operations in India into ICICI Lombard, in exchange of shares, said Axa.
Under the terms of the agreement, AXA and Bharti will receive a total of 35.8 million shares of ICICI Lombard on closing, which would represent Euro 521 million at current market value, and an implied HY 2020 P/BV4 multiple of more than five times. The transactionis expected to result in a one-time positive net income of approximately Euro 0.2 billion in AXA Group’s FY 2021 consolidated financial statements,said AXA..
Nine killed in major fire in Telangana’s Srisailam hydel power plant
“The accident happened when a sudden fire broke out in the electric panels. Employees, who sensed danger made all efforts to extinguish the fire. The entrapped employees tried to save the plant from catching fire without even caring for their lives”
India’s COVID-19 caseload crosses 28-lakh mark
There are 6,86,395 active cases of coronavirus infection in the country which is 24.20 per cent of the total caseload, the data stated.
India’s COVID-19 tally had crossed the 20-lakh mark on August 7
India faces protracted slowdown as virus clouds rural revival
“The economic situation has in fact worsened since April and May, and we are likely moving towards a longer economic slowdown than earlier expected,” a finance ministry official said.
The official pointed to sluggish consumer demand and a slowdown in rural lending as causes for concern.
“The situation on the economy front is very serious and the government’s hands are tied on the fiscal front,” a government adviser with direct knowledge of India’s budget plans said.
India coronavirus cases surge to 2.9 million
India for the first time conducted a record number of more than 9 lakh Covid tests in a span of 24-hours on Wednesday and it is poised to see an exponential increase towards its resolve of testing 10 lakh samples daily.
14 hospitalised after ammonia gas leak in Andhra Pradesh
“We got the information that Ammonia gas was leaked at Hatson company milk process unit near Putalapattu at around 5 PM. 14 labourers who were working in that shift are brought to the hospital here in Chittoor. Among them, 3 people are serious and probably will be shifted to SVIMS or Ruia hospital in Tirupati,” Dr Narayan Bharat Gupta, Chittoor District Collector said.
“All are stable. All of them are women. It is to yet be ascertained whether this incident is a result of the negligence of management or the negligence of the workers. Industries department General Manager and fire department officials will review the ground-level situation on Friday,” he said.
India’s COVID-19 tally climbs to 27,67,273,death toll at 52,889
There are 6,76,514 active cases of coronavirus infection in the country which is 24.45 per cent of the total caseload, while the number of recoveries has surged to 20,37,870.
Reliance buys majority stake in online pharmacy Netmeds for $83 million
The COVID-19 crisis, which spurred a wave of online shopping, has led to increased competition between Amazon, Walmart-owned Flipkart, Reliance’s upstart online grocery service, JioMart and a range of other smaller players for a share in the world’s second most populous country.
18.9 mn salaried people lost jobs since April, 5 mn in July, says CMIE
The loss of around 5 million jobs in July comes after around 3.9 million jobs were gained in June, as per the data. In April, 17.7 million salaried jobs were lost, followed by 100,000 job losses of salaried employees in May.
“While salaried jobs are not lost easily, once lost, they are also far more difficult to retrieve. Therefore, their ballooning numbers are a source of worry,” the centre’s CEO Mahesh Vyas said.