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Business, markets, economy & more: Finance highlights today

Here are all the critical updates from the world of finance today at a glance:

Big announcements

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates

Finance Minister Nirmala Sitharaman on Wednesday poured cold water over expectations of any more economic relief measures in the near future and said the Centre has no more announcements to make. Read more

Aviation Ministry to cap air fares, will bring a low and high price limit

The Civil Aviation Ministry has directed all air carriers to adhere to the lower and upper limits of fares prescribed by it during the period of COVID- 19 pandemic. Read more

Domestic flights to run on one-third capacity of regular schedule from May 25

In a recently held press conference, Civil Aviation Minister Hardeep Singh Puri has laid out detailed plan for resuming domestic flight services in India. As per Minister Puri, airlines will operate one-third of its summer capacity on metro cities. He said, we will start with 1/3rd capacity and based on our experience it would be increased. Read more

Swiggy starts home delivery service for liquor bottles: how to order?

On Thursday, online food delivery platform Swiggy started alcohol home delivery service in Jharkhand and said that it is in advanced stages of discussions with multiple state governments for providing similar service. Read more

GlaxoSmithKline to discontinue Zinetac tablets in India

GlaxoSmithKline Pharmaceuticals on Thursday said it has decided to discontinue production and sale of Zinetac tablets, used to treat and prevent heartburn, in the country. Read more

Strides Pharma to conduct trials in India for potential COVID-19 drug Favipiravir

Indian pharmaceutical company Strides Pharma Science Ltd said on Thursday it has got regulatory approval to conduct clinical trials of antiviral drug favipiravir, considered a potential treatment for COVID-19. Read more

Ticket bookings to open at physical facilities across country, more trains to be announced: Rail Min Railway Minister Piyush Goyal on Thursday said booking of train tickets will resume at around 1.7 lakh common service centres across the country from Friday. Common Service Centres are physical facilities for delivering e-services of the government at rural and remote locations where availability of computers and internet is negligible or absent. Read more

ISRO files patents for lunar stimulant; to benefit Chandryaan-3 mission, future lunar exploration

Exploring the Moon is going to get much more interesting. ISRO has filed a patent for its method of manufacturing highland lunar soil simulant. The stimulant is the key component here and the procedure has ticked all the boxes like mineralogy, bulk chemistry, grain size distribution, and geo-mechanical properties.

Read more

Markets

Sensex rises 114 points; FMCG, auto stocks rally

Equity benchmark Sensex rose 114 points on Thursday as investors accumulated FMCG, auto and IT stocks amid gradual reopening of the economy. After rising to an intra-day high of 31,188.79, the 30-share index settled 114.29 points or 0.37 per cent up at 30,932.90. The broader NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25. Read more

FPIs net buyers in Indian markets so far in May

Foreign Portfolio Investors have been net buyers in the Indian markets so far in the month of May. Data until May 20, shows that FPIs have made gross purchases to the tune of Rs 93,454 crores, while their fross sales number was at Rs 86,123 crores, which has resulted in a net purchase to the tune of Rs 7,330 crores in the cash market. Read more

Gold prices in India decline for the first time in 3 days on softness in global rates

Gold prices In India today (May 21, 2020) declined for the first time in three days in tandem with softness in global rates. In the futures market, gold contract for June delivery shed 0.49% to trade down by Rs. 230 at Rs. 46901 per 10 gm. Silver also slumped in line by 1.55% or Rs. 759 to Rs. 48299 per kg. Read more

Trending

10 most expensive teas in the world: Would you dare to buy?

International Tea Day is observed annually on May 21, according to the United Nations. The International Tea Day aims to raise awareness of the long history and the deep cultural and economic significance of tea around the world. On this occasion, here a look at some of the most expensive tea types around the world. Would you pay so much for it? We recommend this as a topic for ‘chai pe charcha’ (tea-time discussions). Share your comments below. Gallery

Why the Indian banking sector will continue to face problems

The banking and the non-banking sectors have seen some tough times in the recent past. Even before the COVID-19 pandemic they were constantly in the news for all the wrong reasons. Read more

Personal Finance

COVID-19: Guidelines to keep your workplace safe

Here are some recommended tips for workplace safety to contain the spread of COVID-19. Read more

These are the lessons to build your wealth in your 20s

There’s much to be said about being in one’s 20s – those glorious years when the world is yours for the asking. But it’s also safe to say that saving money and building wealth isn’t high on one’s priority during those years. Terabytes of data has been spent on offering advice to 20-somethings on how to build wealth during the most crucial decade of one’s life. As it happens, we realised that several of these lessons happen to hold true not just for those in their 20s but for everyone living in the midst of this global pandemic. Hear us out: Read more

Autos

Mahindra introduces special financial schemes on its SUVs for COVID-19 frontline warriors

Mahindra & Mahindra Ltd, has announced a wide variety of innovative, new finance schemes to ease the burden on its customers during these challenging times. Read more

Tech

Apple iOS 13.5 brings faster iPhone unlock if you are wearing a mask & gets new contact tracing API

iOS 13.5 update for iPhones is here for users across the world, bringing a much needed update that makes it easier for iPhone users to unlock their devices while wearing masks. The update takes into account the prevailing healthcare regulations across the world, which suggests individuals to wear masks at all times in public. Alongside the update to Face ID to accommodate masks on faces, Apple’s iOS 13.5 update also brings the Exposure Notification API, which Apple built in collaboration with Google to enable seamless integration of Covid-19 contact tracing apps by national or regional healthcare departments. Read more

Coronavirus: This IIT-Delhi alumni startup develops camera to detect face masks, social distancing in crowded places

The Indian startup ecosystem has stood up in the fight against the coronavirus pandemic by providing various technological solutions. One of them is Noida-based Vehant Technologies which has developed a solution to ensure individuals are following social distancing norms, including wearing face masks in public during the pandemic. Read more

World

World Bank names financial crisis expert Carmen Reinhart as Chief Economist

The World Bank on Wednesday named former Bear Stearns executive Carmen Reinhart as its chief economist, tapping a financial crisis expert who also currently serves on advisory boards of the IMF and the New York Federal Reserve. Read more

Etihad operates 1st known commercial flight between UAE and Israel with unmarked plane

An unmarked Etihad Airways cargo plane flew aid to help the Palestinians fight the coronavirus pandemic from the capital of the United Arab Emirates into Israel on Tuesday, marking the first known direct commercial flight between the two nations. Read more