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FPIs take out Rs 58,711 cr from equities in Oct, DIIs come to the rescue of stock market
The major trend in foreign portfolio flows in October, so far, has...
All 140 aboard Trichy-Sharjah Air India Express flight safe; DGCA orders probe
The aircraft, after experiencing a technical snag, circled for more...
FM Sitharaman said the economy is facing an extraordinary ‘Act of God’ situation
As per the Centre’s calculation, the compensation requirement by the states in the current fiscal would be Rs 3 lakh crore, of which Rs 65,000 crore is expected to be met from the cess levied in the GST regime. Hence, the total shortfall is estimated at Rs 2.35 lakh crore.
Hurricane Laura slams Louisiana, kills six, but less damage than forecast
Laura was downgraded to a tropical depression by the NHC at 10 p.m., and the forecaster said it will move to the mid-Mississippi Valley later on Friday and then to the mid-Atlantic states on Saturday.
Laura caused less mayhem than forecasts predicted – but officials said it remained a dangerous storm and that it would take days to assess the damage. At least 867,000 homes and businesses in Louisiana, Texas and Arkansas remained without power on Thursday afternoon.
“This was the most powerful storm to ever make landfall in Louisiana,” Governor John Bel Edwards told a news conference. “It’s continuing to cause damage and life-threatening conditions.”
SC asks Centre to clarify stand on interest waiver during moratorium
A bench headed by Justice Ashok Bhushan said the Centre had not made its stand clear on the issue despite the fact that ample powers were available with it under the Disaster Management Act and was “hiding behind the RBI”.
Govt debt set to hit historic high of 91% of GDP in FY21: Report
A surge in public debt will restrict the government’s ability to spend significantly in the current decade, as it has done in the past few years, it said.The report says unless private spending picks up strongly, real GDP growth over the next decade will be slower, averaging at 5-6 per cent as against 7 per cent in the 2010s.
9 evacuated after fire at govt hospital in Jamnagar; no injuries
“All the nine patients in the ICU were rescued in time and shifted to other wards. Three of them were on ventilator while six were on oxygen support,” said Dr Deepak Tiwari ,Medical Superintendent of the hospital .
Political Risk Map 2020: Mid-Year Update for Asia-Pacific
While states such as China, South Korea, and Vietnam have received praise for their domestic handling of COVID-19, others have struggled to bring it under control. Despite an early lockdown, cases in India continue to rise, contributing to one of the largest increases in economic risk in the region.
Bears are going extinct in US stock market’s $13 trillion rebound
“It looks like all those fund managers over the past quarter went from being bearish and expecting a stock market crash to now bullish,” Shawn Cruz, senior market strategist at TD Ameritrade, said in an interview. “Sentiment’s turned positive about equities in general but also sentiment is turning positive for a return to growth.”
The tide is getting harder to fight with retail investors flocking to unprofitable companies such as Nikola Corp. and Moderna Inc. More money managers are forced to embrace the rally, ignoring this year’s profit contraction and banking on fiscal and monetary stimulus. At 26 times forecast earnings, the S&P 500 was trading at the highest multiple since the dot-com era.
Porsche launches investigation into suspected engine manipulation
Porsche has informed Germany’s automotive watchdog KBA, the Stuttgart prosecutor’s office, as well as U.S. authorities of suspected illegal changes to hardware and software that could affect exhaust systems and engine components
412 infra projects show cost overruns of Rs 4.11 lakh crore
“Total original cost of implementation of the 1,683 projects was Rs 20,65,336.20 crore and their anticipated completion cost is likely to be Rs 24,77,167.67 crore, which reflects overall cost overruns of Rs 4,11,831.47 crore (19.94 per cent of original cost),” the ministry”s latest report for June 2020 said.
Iran says black boxes from downed Ukraine jet show missiles hit 25 seconds apart
Iran’s investigation is being carried out under United Nations aviation rules calling for probes aimed solely at preventing future accidents, separately from any judicial process. But the probe has been swept up in regional and domestic tensions.