Business

After Purvanchal and Bundelkhand expressways, Uttar Pradesh Chief Minister Yogi Adityanath directed officials on Friday to start work on the Rs 36,410-crore Ganga Expressway from Meerut to Allahabad by next year, according to a statement. Reviewing the...

British finance minister Rishi Sunak will announce the heaviest public borrowing since World War Two when he spells out his spending plans next week after the biggest economic crash in over 300 years.

The European Union and Britain remain at odds in lastditch trade talks over fishing rights, guarantees of fair competition and ways to solve future disputes, even though they are very close to agreement on other issues, EU diplomats said on Friday.

Investors stormed into riskier assets last week, pumping $27 billion into equity funds as positive COVID19 vaccine updates led to euphoric buying of shares in worsthit sectors such as banks, travel and leisure, and oil, BofA said on Friday.

Similarly, the broader NSE Nifty rose 78.45 points or 0.61 per cent to 12,850.15. Bajaj Finserv was the top gainer in the Sensex pack, advancing over 2 per cent, followed by Tata Steel, Titan, Bajaj Finance, HDFC twins and Kotak Bank.

The BSE Sensex tanked 580.09 points on Thursday, closing at 43,599.96. On the other hand, the Nifty50 fell 166.60 points, reaching 12,771.70. Most of the sectoral indices plunged on Thursday.

Following a historic contraction in the first quarter of 2020, China's economy has rebounded rapidly, with industrial production and retail sales increasing strongly last month.

Stocks shook off a weak start to end higher Thursday, nearly erasing the S&P 500s losses for the week.

Regarding Muthoot Finance, the central bank said the statutory inspection of the company with reference to its financial position as on March 31, 2018 and March 31, 2019, revealed non-compliance with the directions issued by it.

Wall Street's main indexes edged lower on Thursday as soaring coronavirus cases and an unexpected rise in weekly jobless claims raised fears of stalling growth in the world's largest economy.

World stocks eased for the third day in a row and oil fell on Thursday tracking overnight weakness in Asia and Wall Street as widening COVID19 restrictions weighed on market sentiment.

US West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.9%, to $41.43 a barrel by 0039 GMT, after gaining nearly 1% on Wednesday. Brent crude was yet to trade, having risen 1.4% on Wednesday.

A gauge of global shares climbed to a record for a third straight day and the dollar continued to slump on Wednesday as further upbeat COVID19 vaccine news helped alleviate concerns about rising infection rates and related economic damage.

Oil prices firmed by about 2% on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID19 vaccine was more effective than previously reported.

Leasing firm AerCap Holdings has cut its ownership stake in crisishit carrier Norwegian Air to 9%, it said on Wednesday, as the company's staff demonstrated in front of parliament against the government's decision to deny more aid.

Global debt is expected to soar to a record $277 trillion by the end of the year as governments and companies continue to spend in response to the COVID19 pandemic, the Institute of International Finance said in a report on Wednesday.