Sensex up1,100 points, Nifty above 8,500
Mumbai, March 26 (SocialNews.XYZ) Indian equity indices surged on Thursday morning with the BSE Sensex gaining over 1,100 points. The rise in the stock market was in line with the gains in the Asian indices….
Business
Facebook, Google may lose over $44bn in ad revenue in 2020
San Francisco, March 26 (SocialNews.XYZ) The novel coronavirus pandemic can wipe out more than $44 billion in global ad revenue for the tech giants Facebook and Google in 2020 as digital advertising runs dry, a…
COVID-19: WTO sees sharp fall in trade, calls for solutions
Geneva, March 26 (SocialNews.XYZ) Seeing a very sharp decline in global trade, Roberto Azevedo, director-general of the World Trade Organization (WTO), has said a global solution is needed to address the global challenge brought about…
US stocks end mixed amid anticipation of stimulus package
New York, March 26 (SocialNews.XYZ) US stocks ended mixed on Wednesday in anticipation of the approval of a massive coronavirus stimulus package. The Dow Jones Industrial Average increased 495.64 points, or 2.39 per cent, to…
US dollar dips amid spread of coronavirus
New York, March 26 (SocialNews.XYZ) The US dollar declined on Wednesday amid the rapid spread of the coronavirus across the country. The dollar index, which measures the greenback against six major peers, decreased 0.95 per…
Lockdown: Stock market services declared essential
Mumbai, March 26 (SocialNews.XYZ) The Centre has declared services provided by stock markets as essential. According to Sebi, the Home Ministry has issued guidelines to this effect. “The Order inter alia provides that commercial and…
WB-IMF ask creditors to suspend debt of poor countries amid Covid-19 pandemic
Washington, March 26 (SocialNews.XYZ) Washington-based World Bank Group together with the International Monetary Fund (IMF) has called on all its official bilateral creditors to suspend debt repayments of poor countries that receive loans from its…
India likely to go in for a $18bn recovery package
New Delhi, March 25 (SocialNews.XYZ) India is said to be preparing a more than $18 billion recovery and sustainability package for its industries and large workforce in the unorganised sector, industry sources in the know…
Stanza Living sets up employee contingency fund for corona crisis
New Delhi, March 25 (SocialNews.XYZ) Student housing company Stanza Living said on Wednesday that is has set up an employee contingency fund to cover the basic medical expenses for of its employees in case they…
All India Manufacturers’ Organisation seeks relief for MSMEs
New Delhi, March 25 (SocialNews.XYZ) The All India Manufacturers’ Organisation (AIMO) on Wednesday urged the government to support the MSME sector with incentives in view of the ongoing nationwide lockdown. In a statement, the trade…
21-day lockdown to derail India’s economic juggernaut: Report
New Delhi, March 25 (SocialNews.XYZ) As the Indian economy eagerly awaits a financial package to prevent the COVID-19 pandemic from causing major harm, a new report said on Wednesday that the 21-day nationwide lockdown will…
Covid-19-linked demand squeeze pushes IOC to cut crude processing
New Delhi, March 25 (SocialNews.XYZ) In the wake of substantial reduction in demand for petroleum products post the Covid-19 outbreak in the country, country’s largest public sector refiner Indian Oil Corporation has reduced crude processing…
NTPC’s installed capacity touches 58,816 MW
New Delhi, March 25 (SocialNews.XYZ) With the commissioning of second unit of 660 MW at Khargone Super Thermal Power Project in Madhya Pradesh, the total installed capacity of NTPC Ltd increased to 58,816 MW, India’s…
Flipkart resumes operations, Amazon in talks with govt
New Delhi, March 25 (SocialNews.XYZ) After temporarily suspending all of its operations and services during the COVID-19 lockdown, etailer Flipkart on Wednesday said it will resume its grocery and essentials services post assurance from the…
Rebate in taxes on garments exports extended
New Delhi, March 25 (SocialNews.XYZ) The Union cabinet on Wednesday gave its approval for the continuation of “Rebate of State and Central Taxes and Levies” (RoSCTL) scheme for the apparel industry. According to an official…
OYO steps in to help govt fight COVID-19
New Delhi, March 25 (SocialNews.XYZ) Indian hospitality giant OYO has stepped in to offer support in the fight against the outbreak of novel Coronaviurs (COVID-19). In the US, the company is offering free stay to…
Covid-19: GoAir decides to reduce pay across board
Mumbai, March 25 (SocialNews.XYZ) GoAir on Wednesday decided to institute a limited pay reduction measure across the board to deal with the economic fallout of Covid-19 and the lockdown. The company communicated this decision, which…
Relief rally in markets, Sensex up 1,861 points
Mumbai, March 25 (SocialNews.XYZ) Amid a rebound in the global markets, Indian equity indices surged on Wednesday with the BSE Sensex gaining over 1,800 points to close above the 28,000-mark. The Nifty50 on the National…
Hundreds of Zomato employees take deep salary cuts: CEO
New Delhi, March 25 (SocialNews.XYZ) Zomato CEO Deepinder Goyal on Wednesday announced that several employees have taken deep voluntary salary cuts as the business has been hit owing to the COVID-19 lockdown. In a series…
How Indian SMBs are adopting new work culture amid lockdown
By Gokul Bhagabati New Delhi, March 25 (SocialNews.XYZ) With the 21-day lockdown period beginning from Wednesday, there is no choice for most companies in India other than adopting work from home mode, if they do…