- PTI
HFCL Ltd posts Rs 9.68 crore profit for Mar quarter
New Delhi, Jun 5 (PTI) Domestic telecom gear maker HFCL Ltd on Friday reported a consolidated profit of Rs 9.68 crore for the March 2020 quarter, about 86 per cent fall over the year-ago period due to lower revenue.
ReutersExclusive: Angola cuts oil shipments to China as it seeks debt relief
Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms to deal with the crippling impact of the coronavirus, three sources familiar with the matter said. Angola said this week it had asked for G20 debt relief and was in advanced talks with some countries importing its oil on adjusting financing facilities, but expects no further debt overhaul to be needed beyond this. The sharp global economic slowdown due to the novel coronavirus pandemic pushed Brent oil prices to their lowest levels since the late 1990s and U.S. oil futures to negative territory for the first time in history.
The QuintIndia’s Forex Reserves Rise By Over $3.4 Billion
The country’s reserve position with the IMF increased by $31 million to $4.158 billion.
- PTI
Jagan launches India's first online waste exchange
Amaravati, Jun 5 (PTI) Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Friday launched the country's first online waste exchange for safe disposal of toxic wastes and promoting recycling and reuse.
- PTI
NSDL e-Gov terminates tie-up with Alankit for PAN, e-TDS statement filing services
New Delhi, Jun 5 (PTI) NSDL e-Governance Infrastructure on Friday said it has terminated its tie-up with Alankit Ltd as a Tax Information Network facilitator (TIN FC)/PAN Centre on account of non-remittance of fees.
- PTI
Post offices deliver USD 54 mn in rural, unbanked areas during lockdown: Kant
New Delhi, Jun 5 (PTI) India was able to bridge the last mile outreach challenge with the door-step financial service delivery of India Post Payments Bank (IPPB) during coronavirus-induced lockdown, Niti Aayog CEO Amitabh Kant said on Friday.
- PTI
Govt wants credit flow at lower interest rate: Thakur
Kolkata, Jun 5 (PTI) The government is negotiating with banks to give loans to small businesses at a lower interest rate of around 7.5-8 per cent, Minister of State for Finance & Corporate Affairs Anurag Singh Thakur said on Friday.
- PTI
ECGC to clear all pending claims of exporters in four months
New Delhi, Jun 5 (PTI) The Export Credit Guarantee Corporation of India (ECGC) on Friday said it will clear all pending claims of apparel exporters in the next four months, even as it faces an exposure of Rs 100 crore in UK's Laura Ashley and USA's JC Penney, two large retail store chains that have gone bankrupt. We are working under pandemic-related restrictions. But we are trying our best and we plan to clear all pending claims in four months' time, M Senthilnathan, chairman and managing director, ECGC, said in a webinar organised by the Apparel Export Promotion Council (AEPC) on 'Managing Trade Credit under the Covid-19 Pandemic Situation'.
News18Covid-19 Pandemic: US Development Bank Makes $1 Billion Investment in Indian Companies
A statement issued by the US embassy in New Delhi said that the US International Development Finance Corporation (USIDFC) has approved $1 billion of investments that will advance development in many other countries across the globe.
- PTI
Bank credit grows 6.25 pc, deposits rise 10.64 pc: RBI
Mumbai, Jun 5 (PTI) Bank credit and deposits grew 6.25 per cent and 10.64 per cent year-on-year to Rs 102.23 lakh crore and Rs 138.30 lakh crore, respectively, in the fortnight ended May 22, according to the latest data from the Reserve Bank of India.
- PTI
Auction of mineral blocks with pre-embedded clearances to attract huge investments: Ficci
New Delhi, Jun 5 (PTI) Industry body Ficci on Friday welcomed the Centre's guidelines to auction mineral blocks with pre-embedded clearances and said the move will attract huge investments.
- PTI
Gold bond issue price fixed at Rs 4,677/gm of gold
Mumbai, June 5 (PTI) The issue price for Sovereign Gold Bond has been fixed at Rs 4,677 per gram of gold, the Reserve Bank of India said in a statement on Friday.
- PTI
Govt invites applications for Trai chief's post
New Delhi, Jun 5 (PTI) The government has begun the search for filling up the post of chairperson, Telecom Regulatory Authority of India (Trai), which is due to fall vacant on October 1.
- PTI
Govt notifies 2 ordinances to kick in agri reforms, help farmers trade freely
New Delhi, Jun 5 (PTI) The government on Friday notified two key ordinances to kick in agriculture reforms and help farmers trade freely and fetch better prices.
- PTI
Greaves Cotton's net profit declines to Rs 55 lakh in Mar quarter
New Delhi, Jun 5 (PTI) Greaves Cotton Ltd on Friday reported a 98.28 per cent decline in its consolidated net profit to Rs 55 lakh in the fourth quarter ended March 2020.
- PTI
GDR manipulation: Sebi bans Lyka Labs for 3 yrs
New Delhi, Jun 5 (PTI) Markets regulator Sebi on Friday restrained Lyka Labs Ltd from accessing the securities market for three years in a matter pertaining to manipulation in issuance of global depository receipts (GDR).
News18Air India Opens Booking for International Flights to US, Canada; Around 1,700 Tickets Booked
Air India will operate 75 outbound passenger flights to select destinations in the US and Canada between June 9 and June 30.
- PTI
L&T Q4 consolidated net profit down 4%; FY'20 profit rises 6% at Rs 10,240 cr
New Delhi, Jun 5 (PTI) Engineering major Larsen & Toubro (L&T;) on Friday posted a 4.36 per cent drop in its consolidated net profit at Rs 3,430 crore for the January-March quarter of FY20.
- PTI
Sebi bans Capital True Financial's proprietor from acting as investment adviser
New Delhi, June 5 (PTI) Market regulator Sebi on Friday barred Narendra Singh Tanwar, proprietor of Capital True Financial Services, from acting as an investment adviser (IA) for producing false and fabricated documents to prove his eligibility to work as an IA.
Yahoo FinanceDon't miss the top 12 finance stories of the day
India's forex reserves surge to all-time high of $ 493.48 billion, says RBI.
News18COVID-19 Lockdown Has Helped Indians Improve Their Heart Health: Fitbit
On average, resting heart rate dropped by 2.56 beats per minute in female users aged 18-29 and 2.35 beats per minute in male users aged 18-29 from January to April.
- PTI
RBI Rs 500 cr fund to promote digital payments in small towns, NE states
Mumbai, Jun 5 (PTI) The Reserve Bank on Friday announced a Rs 500 crore payments infrastructure development fund (PIDF) for promoting digital payments and deployment of points of sale (PoS) equipment in small towns and north-eastern states.
News18Post-IBC Amendment, Lenders Can't Drag Defaulters to Bankruptcy Court for Insolvency Proceedings
The government an ordinance to amend the Insolvency and Bankruptcy Code (IBC) wherein fresh insolvency proceedings will not be initiated for defaults on account of the pandemic.
- PTI
Infibeam Q4 net profit dips 25 pc to Rs 19.1 cr
New Delhi, Jun 5 (PTI) Infibeam Avenues on Friday reported a 25 per cent decline in consolidated net profit at Rs 19.1 crore for March 2020 quarter.
ReutersLVMH refrains from renegotiating Tiffany deal, sources say
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday. LVMH CEO Bernard Arnault has been in talks with his advisers this week to identify ways to pressure Tiffany to lower the agreed price of $135 per share in cash, Reuters reported on Wednesday. LVMH also said on Thursday that its board had discussed the impact of the COVID-19 pandemic on its deal with Tiffany.
