Economy News

Tamil Nadu CM seeks Rs 4,000 crores to combat Coronavirus

Tamil Nadu CM seeks Rs 4,000 crores to combat Coronavirus

Chennai: Tamil Nadu Chief Minister K. Palaniswami on Wednesday asked the Central government for Rs 4,000 crore to combat the coronavirus pandemic in the state.In a letter to Prime Minister Narendra Modi, the text of which was released to the media here, Palaniswami requested special assistance of Rs...

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Lockdown Impact: How Infosys' 1.7 lakh techies network is working

Lockdown Impact: How Infosys' 1.7 lakh techies network is working

Bengaluru: A lockdown in many countries the world over has forced 1.7 lakh Infosys techies to work from home to ensure business continuity, a senior executive said on Wednesday."About 70 per cent of our 2.4 lakh global workforce is working from home to avoid being affected by coronavirus," Infosys C...

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Soft loan for MSMEs, cash transfers expected amid corona crisis

Soft loan for MSMEs, cash transfers expected amid corona crisis

New Delhi: As the country went into a 21-day lockdown starting Wednesday in view of the coronavirus crisis, Emkay Global Financial Services expects that the government would offer soft loans for Micro, Small and Medium Entreprises (MSMEs), cash transfers and restructuring of loans to provide to the ...

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After lock-down, Flipkart resumes but Amazon still in talks with govt

After lock-down, Flipkart resumes but Amazon still in talks with govt

New Delhi: After temporarily suspending all of its operations and services during the COVID-19 lockdown, etailer Flipkart on Wednesday said it will resume its grocery and essentials services post assurance from the government.There were massive disruptions on Day 1 of the 21-day lockdown as loc...

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Covid-19-linked demand squeeze pushes IOC to cut crude processing

Covid-19-linked demand squeeze pushes IOC to cut crude processing

New Delhi: In the wake of substantial reduction in demand for petroleum products post the Covid-19 outbreak in the country, country's largest public sector refiner Indian Oil Corporation has reduced crude processing at most of its refineries by 25 per cent to 30 per cent."In the wake of the COV...

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US Senate, White House agree on $2tn Covid-19 spending bill

US Senate, White House agree on $2tn Covid-19 spending bill

Washington: The White House and the US Senate leaders on Wednesday are reported as having reached an agreement on the $2 trillion coronavirus spending bill aimed at alleviating the economic impact of the outbreak, the top Republican lawmaker said.Under the plan, people making up to $75,000 a ye...

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21-day lockdown will derail India's economic juggernaut: Report

21-day lockdown will derail India's economic juggernaut: Report

New Delhi: As the Indian economy eagerly awaits a financial package to prevent the COVID-19 pandemic from causing major harm, a new report said on Wednesday that the 21-day nationwide lockdown will result in a direct output loss of nearly 4.5 per cent, with further indirect effects.Finance Minister ...

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FM extends crucial taxation dates, economic package still work in progress

FM extends crucial taxation dates, economic package still work in progress

New Delhi: Hours before Prime Minister Narendra Modi's second announcement in a Covid-19 marred month, the Finance Ministry has announced extension in several crucial taxation dates. The dates for filing of GST, TDS deposits, Income Tax filings, Aadhar-PAN card linkage, Customs and Excise related de...

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TN Chief Minister announces cash assistance and free ration to poor

TN Chief Minister announces cash assistance and free ration to poor

Chennai: Free supplies of ration, cash assistance of Rs 1,000 are some of the measures that have been announced by Tamil Nadu Chief Minister K. Palaniswami on Tuesday for the benefit of poor to tide over their livelihood problems owing to the lockdown of the state till March 31 to contain the spread...

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Germany announces biggest financial aid since second World War

Germany announces biggest financial aid since second World War

Berlin: Germany has approved a massive and unprecedented financial aid package of 156 billion euro ($166.5 bn), the largest in the country since the Second World War, to offset the socio-economic damage caused by the coronavirus pandemic.The stimulus package is designed to ease the burden on hospita...

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