Business

Global markets under pressure over fear of coronavirus spread

Post Date: January 29, 2020

Mumbai: Fears that the outbreak of coronavirus in China may disrupt economic activity and global growth has sent the stock markets tumbling. Chinese health authorities on Friday said that 830 cases of pneumonia caused by coronavirus were confirmed in 29 provincial-level regions in the country. The pneumonia has so far claimed 25 lives. A sharp adverse...

India may raise import duties on over 50 items in budget


New Delhi: India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere, Reuters reported, citing officials and industry sources. Finance Minister Nirmala Sitharaman could make the announcement when she presents her annual budget on February 1,...

US witnessing economic boom never seen before: Trump at Davos


Davos: Addressing the World Economic Forum (WEF) summit here, US President Donald Trump said on Tuesday that America is in the midst of an economic boom that has never been seen before anywhere in the world. According to President Trump, 11 million jobs have been gained by America since his election and the average unemployment...

IMF cuts India’s growth rate to 4.8% in ‘negative surprise’


United Nations: Calling it one of the "negative surprises", the International Monetary Fund (IMF) on Monday sharply cut India's growth estimate for the current fiscal to 4.8 per cent, darkening the economic picture from the rosy 7.5 per cent made this time last year. The latest cut follows a downward trend that reduced India's growth...

Bezos says fall in love with India every time he returns


New Delhi: After facing snub from the Indian government, Amazon Founder and CEO Jeff Bezos on Friday posted a note on the company's e-commerce website Amazon India, saying “he falls in love with India every time he returns here”. "I fall in love with India every time I return here. The boundless energy, innovation and...

Amazon investment not doing India a great favor: Goyal


In a scathing attack on the visiting Amazon Founder and CEO Jeff Bezos, Union Commerce Minister Piyush Goyal has said that e-commerce firm Amazon was not doing "India a great favor" by investing $1 billion in the country. Speaking at the Raisina Dialogue, which is a multilateral conference held annually in New Delhi, he said...

Walmart India sacks 56 senior executives, denies more layoffs


New Delhi: As Amazon Founder and CEO Jeff Bezos begins his India visit this week, its arch rival Walmart India on Monday said it has asked 56 senior executives to leave as part of its corporate restructuring process, shrugging off reports about the second round of layoffs coming in April. In a statement, the company...

Group of Ministers to meet today to discuss Air India disinvestment


A Group of Ministers (GoM) will meet today in New Delhi to discuss the disinvestment of Air India. The ministers are likely to decide the contours of the Expression of Interest (EoI) which is expected to be issued in mid-January. According to an Air India official, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Railway...

Nasscom ‘Accelerate 10X’ initiative to nurture 100 AI start-ups each year


New Delhi, Sep 18: To empower desi tech start-ups working in the field of Artificial Intelligence (AI) and other emerging technologies, IT industry's apex body Nasscom on Tuesday announced to double up on its efforts and mentor 100 such mature-stage start-ups every year.Building on the success of its 10,000 Start-ups initiative, Nasscom...