Indian

National Asset Reconstruction Company to acquire stressed assets of about Rs 2 lakh crore in phases

Sep 16, 2021

Explaining the benefits that banks will get from this new structure, the Finance Ministry said the new structure will incentivize quicker action on resolving stressed assets thereby helping in better value realization.

World Bank discontinues business climate report after ethics review

Sep 16, 2021

In a statement, the World Bank said that after the irregularities raised ethical matters involving former bank staff and board officials, the development lender will work on a new approach to assessing countries’ business and investment climates.

Sold electric scooters worth over Rs 600 cr in a day: Ola co-founder

Sep 16, 2021

Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.

Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu with an investment of Rs 2,400 crore.

The company had stated that it would initially start with 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.

Fresh cyclonic circulation to bring heavy rainfall over east India from Sep 18-19

Sep 16, 2021

”A cyclonic circulation (is) likely to develop over north Bay of Bengal on September 17. It is likely to move west-northwestwards towards Odisha-West Bengal coast during the subsequent three days,” the IMD said.

”Rainfall activity is likely to increase over Odisha and Gangetic West Bengal with fairly widespread to widespread rainfall and isolated heavy falls over above areas on September 18-19,” it added.

Earlier this week, a deep depression brought heavy rainfall over Odisha and Chhattisgarh.

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International

Trump ‘going big’ with $1 trillion stimulus as U.S. coronavirus deaths top 100

Mar 17, 2020

The Trump administration is also considering a plan to send checks to individual Americans of $1,000 to help them weather the crisis, though details remain unclear.

Global powers throw cash at spiralling coronavirus crisis

Mar 17, 2020

But while the main aim is to avoid deaths – currently at nearly 7,500 – global powers were also focussing their attention on how to limit the inevitably devastating economic impact.

Global stocks drop as investors shun risk on coronavirus fears

Mar 17, 2020

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3%, led by a 4.9% fall in Australia while Japan’s Nikkei gained 1.6%.

Most airlines may go bankrupt by May without govt action on Coronavirus

Mar 16, 2020

“As the impact of the coronavirus and multiple government travel reactions sweep through our world, many airlines have probably already been driven into technical bankruptcy, or are at least substantially in breach of debt covenants,” said global aviation consultancy firm CAPA

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