Discoms’ dues to generators rise 34% to Rs 1.26 lakh crore
NEW DELHI:The Covid-19 pandemic continues to have a wider impact on the country’s power sector in the current financial year with the acute slowdown witnessed in the first quarter period carrying on further, albeit at a lot lower levels, affecting both demand and supply, and hiking the stress levels of state discoms. According to analysts, […]
Demand for holiday homes gains traction amid Covid-19 pandemic
NEW DELHI: As the pandemic has significantly impacted operations of businesses and people’s working model, housing preferences also have changed and the demand for holiday homes or second homes has increased in the past few months. According to Aditya Kushwaha, CEO & Director Axis Ecorp, the need for a perfect balance between work and personal […]
No need for vaccines, COVID-19 pandemic effectively over: Pfizer Ex-Vice President
NEW DELHI: While pharmaceutical major Pfizer had made headlines on the release of their Covid-19 vaccine, its former Vice President and Chief Scientist has said that there is no need for any vaccines to bring the pandemic to an end. According to a report from lifesitenews.com, Dr Michael Yeadon, there is absolutely no need for […]
Middle East to require nearly 3,000 new airplanes worth $685 billion by 2039
NEW DELHI: Boeing anticipates demand for 2,945 new airplanes in the Middle East valued at $685 billion over the next two decades, as the industry recovers from the COVID-19 pandemic in the medium and long term. The projection is part of Boeing’s 2020 Commercial Market Outlook (CMO), an annual forecast of 20-year demand for commercial […]
Cement to remain strong in 2HFY21 on expected pricing strength
NEW DELHI: The Covid-19 pandemic changed the trend in cement pricing this year. Contrary to historical trends of the lower cement prices QoQ in the third quarter of the calendar year due to softness in the demand owing to the festive season (Diwali) as well as the lower exit prices in Q2 on account of […]
Covid-19 pandemic: India rejects lockdown possibilities, issues 19 Standard Operating Procedure
NEW DELHI: In the wake of ongoing Covid-19 cases in India, the Ministry of Home Affairs (MHA) on Wednesday issued a 19-point Standard Operating Procedure (SOP) giving nod to states and UTs to impose local restrictions if necessary. The SOPs, part of a month-long guidelines issued by the MHA, will be effective from December 1 […]
Resume mining to overcome jobs, economy issues: CII to Goa government
PANAJI: The Confederation of Indian Industry (CII) Goa chapter has emphasised the need for prompt resumption of mining activities in the coastal state to overcome disruption in economy and unemployment caused by the Covid-19 pandemic. Alterations to the National Mineral Policy, phasing out of mining activities from eco-sensitive areas, setting up of a comprehensive regulatory […]
KCR promises all help to Telugu film industry
HYDERABAD: Telangana Chief Minister K. Chandrasekhar Rao on Sunday assured the Telugu film industry that the state government will take all the measures needed to protect and support it in the wake of the Covid-19 pandemic. He promised concessions and exemptions to support the film industry and the workers as they suffered losses due to […]
Odisha minister presents Rs 11,200 crore supplementary budget for FY21
BHUBANESWAR: Odisha Finance Minister Niranjan Pujari on Friday presented the first supplementary statement of expenditure of Rs 11,200 crore for the 2020-21 fiscal. The approach in this year”s supplementary budget is “re-prioritisation” of allocations, with the COVID-19 pandemic at the centre of focused efforts, Pujari said. The supplementary provision of Rs 11,200 crore comprises Rs […]
Narendra Modi bets on urban transformation amid covid-19 pandemic, invites global investors
NEW DELHI: Emphasising on the transformation of urban landscapes in the post-Covid era, Prime Minister Narendra Modi on Tuesday invited global investors to invest in India’s urbanisation plans, mobility among other sustainable solutions. Speaking at the Bloomberg New Economic Forum, Modi said that the pandemic has brought about a need to redesign the urban centres […]
Covid-19 pandemic hits Airbnb hard as company loses millions in revenue
NEW DELHI: Hit hard by the Covid-19 pandemic, the home-rental service Airbnb saw its gross booking revenue (GBV) nosediving by 39 per cent to reach 18 billion, while generating sales worth $2.5 billion (down 32 per cent year-on-year) in the nine months that ended in September 30. The company which filed for an initial public […]
India loses 21% of brand value to $2 trillion due to Covid-19 pandemic: Report
NEW DELHI: Despite losing 20.8 per cent of its value to the disruptions caused by the pandemic, the country could hang to be the seventh most-valuable nation with a brand value of USD 2 trillion, according to a report. The US continues to lead the brand value league with USD 23.73 trillion after losing 14.5 […]
SBI Card’s bad loans surge amid Covid-19 pandemic
NEW DELHI: Amid financial stress among borrowers in view of the ongoing coronavirus pandemic, SBI Cards and Payments reported a rise in its gross non-performing assets (NPA) during the quarter ended September. The company’s gross NPA (GNPA), during the July-September quarter, was at 4.29 per cent, against 2.33 per cent from the same period of […]
Despite pandemic IL&FS expects to address over Rs 50,000 crore debt in FY21
NEW DELHI: IL&FS Board is hopeful that it will be able to address the targetted debt of over Rs 50,000 crore in the current financial year despite the impact of the pandemic. It is hopeful of achieving the targeted debt resolution of over 50 per cent of the overall debt. In a statement on Saturday, […]
Donald Trump’s pandemic record in spotlight as Kamala Harris, Mike Pence trade blows at VP debate
By Michael Martina, Joseph Ax SALT LAKE CITY: Vice President Mike Pence and Democratic challenger Kamala Harris clashed over the Trump administration’s handling of the coronavirus pandemic during their debate on Wednesday, as the White House struggled to contain an outbreak that has infected President Donald Trump and dozens of others. The policy-heavy, relatively sedate […]
Maldives thanks India for $250 million support amid COVID-19 pandemic
By Yoshita Singh UNITED NATIONS: The Maldives has thanked India for the financial assistance of USD 250 million — “the single largest financial assistance from a donor” — to support the island nation amid the COVID-19 pandemic. “The pandemic has also highlighted the importance of global cooperation. In the Maldives, without the support of our […]