Business

The Union Minister of Road and Transport said the government is working to attract foreign investment and is confident India will receive a positive response from countries across the world.

As a result of the deadly coronavirus pandemic, which has resulted in a global recession, remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year, the World Bank has said.

The deal values Jio Platforms at Rs 4.62 lakh crore and will make Facebook the largest minority shareholder in the telecom company.

ICICI Bank is asking for authorities to impound two vessels operated by Ocean Tankers (Pte) Ltd, a unit HLT, an ICICI source said on Monday.

Forex traders said rupee is trading in a narrow range as positive domestic equities is supporting the local unit, while strengthening of the US dollar is weighing on the rupee.

Between April 1 to 17, FPIs pulled out a net sum of Rs 3,808 crore from equities and Rs 8,842 crore from the debt segment.

The insurer told policyholders that death claims arising due to COVID-19 will be treated at par with other causes of death and payments shall be made urgently.

As the coronavirus outbreak forced the central government to impose nationwide lockdown, people across the country resorted to panic buying.

Last month, India outlined a 1.7-trillion rupee economic stimulus plan providing direct cash transfers and food security measures to give relief to millions of poor hit by an ongoing 21-day nationwide lockdown.

State-owned Steel Authority of India Ltd (SAIL) and private player Tata Steel both contribute about 20 per cent to India's total steel production.

A holiday court on Friday had granted temporary bail for 75 days to Hari Sankran, former vice chairman of crisis-hit IL&FS and Ramesh Bawa, former managing director and CEO of the firm.

Irdai informed that the 29 companies allowed to market this health insurance product include Bharti Axa, Chola MS, Max Bupa, Bajaj Allianz, United India, HDFC ERGO, Star Health, Oriental Insurance, SBI General Insurance, National Insurance among others.

Stating that asset quality will deteriorate, Moody's said a sharp decline in economic activity and a rise in unemployment will lead to a deterioration of household and corporate finances, which in turn will result in increases in delinquencies.

For the April-June 2020 quarter, 15-year Public Provident Fund scheme will fetch an annual interest rate of 7.1% (compounded annually) as compared to 7.9% earlier.

Trump on Monday said Saudi Arabia and Russia "both went crazy" in their oil-price war and added that "I never thought I'd be saying that maybe we have to have an oil (price) increase, because we do."

With two-thirds of the world's population living in developing countries amid the Covid-19 economic crisis, the UN is calling for a $2.5 trillion rescue package for these nations.