Business

In big relief, govt to withdraw 96% of AGR dues of PSUs

Post Date: June 18, 2020

New Delhi: The Indian government on Thursday informed the Supreme Court it is willing to withdraw 96 per cent of the Rs 4 Lakh crore dues pending against various PSUs in the adjusted gross revenue (AGR) matter. Solicitor General Tushar Mehta, representing the Center, told a bench headed by Justice Arun Mishra that the Center...

Nassau-Coliseum

Nassau Coliseum to be shuttered indefinitely


The Nassau Coliseum, NYCB Live will close its doors indefinitely as the operator billionaire Mikhail Prokhorov is seeking investors to take over the lease and assume the $ 100 million remaining debt. The decision of Prokhorov raises questions about the future development of the Nassau Hub of $ 1.5 billion and is expected to return...

155 Indian companies create nearly 125K jobs in US: CII report

Post Date: June 18, 2020

Washington, DC: As many as 155 Indian companies have invested $22 billion in the US, thus creating nearly 125,000 jobs in the country, according to a report issued by the Confederation of Indian Industries (CII) on Monday. The report, “Indian Roots, American Soil 2020,” is a state-by-state breakdown of tangible investments made and jobs created by...

AT&T

AT&T plans to cut 3,400 jobs, shuts down 250 stores


San Francisco: AT&T plans to cut over 3,400 technician and clerical jobs across the country over the next few weeks, the US wireless carrier has informed its main labour union, the Communications Workers of America. In addition, the company plans to permanently shutter over 250 AT&T Mobility and Cricket Wireless stores, impacting 1,300 retail jobs,...

Chief Economist of IMF, Gita Gopinath.

IMF may further slash global economic outlook


New Delhi: The International Monetary Fund (IMF) is likely to further revise economic growth forecasts downwards in its upcoming outlook update due to the severe impact of the coronavirus pandemic and the resultant lockdowns across the world. In a blog post, the Chief Economist of IMF, Gita Gopinath, said that although many countries begin to...

Prime Minister Narendra Modi.

Modi urges India Inc to turn corona crisis into opportunity


Kolkata: Prime Minister Narendra Modi on Thursday urged India Inc to come forward and convert the ongoing COVID-19 crisis into a turning point for the industries to make India a self-reliant nation. Addressing the inaugural speech on the 95th annual plenary session of the Indian Chamber of Commerce (ICC) via video conferencing, the Prime Minister...

india

Half of India can’t survive more than a month sans income


New Delhi: Almost half of India's population will not be able to survive more than a month without any job or income, just with the help of savings or family support. With a protracted lockdown and dismal economy, job losses are mounting and concerns are going up for families as to how long they can...

US economy officially entered recession in February

Post Date: June 11, 2020

Washington: The US economy officially entered a recession in February, ending the longest expansion in the country's history, the National Bureau of Economic Research (NBER) said. The Business Cycle Dating Committee of the NBER, which maintains a chronology of the peaks and troughs of American business cycles, "has determined that a peak in monthly economic activity...

Oil giant BP to lay off 10,000 employees globally

Post Date: June 11, 2020

New Delhi: Amid the coronavirus pandemic and its severe impact on the oil market, British Petroleum has decided to lay off 10,000 employees from its workforce globally by the end of the year. The total people to be laid off represent 15 per cent of the 70,000 strong global workforce of the oil giant. BP's CEO...