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Jharkhand attracts Rs 62k crore investment at Make in India Week

The state has signed MoU worth Rs 50,000 crore with Adani Group




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IRB Infra to sign concession agreement on Zozila pass by March

The scope of the project includes constructing approaches on NH-1 (Srinagar-Sonmarg-Gumri Road) on design, build, finance, operate and transfer (annuity) basis




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Karnataka gets Rs 9,700-cr investment commitment at Make in India Week

Solar cell manufacturer First Solar is looking to setup a manufacturing unit with an investment of Rs 6,000 cr




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Volkswagen used defeat device in India too: Geete

Emission nine times more than cap; firm denies claim




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Govt sees 67% increase in disbursal through textile fund in 6 years

Eyes disbursal of Rs 30,000 crore under the Amended Technology Funds Scheme




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Make in India Week nets Rs 15.2 lakh crore investment commitments

Of the total commitments, 30% have come from foreign players




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CIDCO inks MoUs worth Rs 30,000 crore during Make in India Week

CIDCO also inked an MoU with Transparency International India to combat corruption and for effective governance




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Make in India: 1,500 workers and a week to clear the junk

They'll be dismantling 27 pavilions spread over 2,30,000 sq mt of land owned by MMRDA




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Make In India Week: Odisha bags Rs 70,959 cr investment commitments

Around Rs 30,000 crore investments are from the mineral sector while the rest are from areas like food processing, electronics, textiles and renewable energy




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Maha forms panel to track MoUs signed at Make in India week

Event through Feb 13-18 at BKC in Mumbai brought in 2,594 MoUs entailing Rs 7.94 lakh cr investments




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Rupee extends losing streak

At 71.3125/3150 per dollar




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Rupee closes higher

At 76.3875/76.3900 per dollar




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Government Of India Announces Sale Of Three Dated Securities For Rs 19,000 crore

The government of India (GoI) has announced the sale (re-issue) of three dated securities for Rs 19000 crore. These include 6.18% GS 2024 9,000, 7.57% GS 2033 4,000 and 7.16% GS 2050 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be price based (for all securities), using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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RBI Employees contribute ₹7.30 crore to PM CARES Fund

The employees of the Reserve Bank have decided to contribute one or more day's salary to the PM CARES Fund, in response to the call to support during the emergency situation. The total contribution from the employees amounting to ₹7.30 crore is being remitted to the PM CARES Fund. The COVID-19 pandemic and the related dislocation in normal economic activity has severely affected the economically weaker sections of the society and their means of livelihood. To help the people affected by any kind of emergency or distress situation, like the one posed by the COVID-19 pandemic, Government of India has set up a public charitable trust named Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) to receive contributions from various sources.




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Post-Covid era will see perceptible change in global supply-chains and India should capture significant share in the world trade: Piyush Goyal

Minister of Commerce and Industry & Railways Shri Piyush Goyal held discussions with the Export Promotion Councils(EPCs) of the country. He called upon the Exporters to identify their strengths, potentials and competitive advantages in specific sectors, and focus on harnessing them in the world markets. Goyal said that in the post-Covid era, there is going to be perceptible change in the global supply-chains, and Indian industrialists and exporters should be looking to capture significant share in the world trade. He assured them that the Government will be a pro-active supporter and facilitator in their efforts, and the Indian Missions abroad can play an important role in that. The Minister said that Incentives can be given, but they have to be justified, reasonable, and WTO-compliant.




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Currency In Circulation Rises 0.7% On Week

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RBI Governor meets MD & CEOs of Public and Private Sector Banks over Video Conference

In his opening remarks, the Governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.




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Employees of EPFO contribute Rs 2.5 crore to PM CARES fund

The employees of Employees Provident Fund Organization (EPFO) have come forward to support the Government's initiative in combating national crisis of COVID-19 pandemic and voluntarily contributed one day's salary- amounting to around Rs. 2.5 crore to the PM CARES Fund. EPFO, as one of World's largest Social Security Organizations, stands committed in the service of the nation in every possible way. The COVID-19, declared as a pandemic by the World Health Organization, has posed serious challenges for the health and economic security of millions of Indians. Government of India has set up a public charitable trust under the name of 'Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund' (PM CARES Fund) with the primary objective of dealing with any kind of emergency or distress situation. Officers and staff of EPFO are also contributing by putting in extra efforts for providing relief by expeditiously processing EPF withdrawal claims including COVID claims under




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Country-Wide Lockdown Was Necessary But Has Had Deep Ramifications On Economic Activity: CII Survey

The country-wide lockdown imposed on 23rd March, while necessary, has had deep ramifications on economic activity. According to the CII CEOs Snap Poll on Impact of COVID-19 on Economy and Industry, while a majority of the firms continue to anticipate a significant decline in their topline, they now foresee a delay in economic revival and demand recovery. The survey saw the participation of more than 300 CEOs, of which nearly two-thirds belonged to MSMEs. The lockdown brought economic activity to a grinding halt and the survey findings indicate that a significant majority of the firms (65%) expect revenues to fall more than 40% in the current quarter (Apr-Jun 2020). For financial year 2020-21, the expectations of a fall in revenue are staggered, with 33% of the firms anticipating a revenue fall of more than 40%, closely followed by 32% of firms expecting a revenue contraction ranging between 20% to 40%.




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Government of India announces the sale of three dated securities for Rs 19,000 crore

The government of India (GoI) has announced the sale (issue /re-issue) of three dated securities for Rs 19000 crore. These include 5.09% GS 2022 3,000 May 08, 2020, New GS 2030 (maturing on May 11, 2030) 10,000 and 7.19% GS 2060 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be Yield based for New GS 2030 and price based for remaining securities using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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Reserve Money Rises 1.5% On Week

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Gold sees steady gains

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Heirs Fight Over An Inheritance, Advisers Referee

Inheritance battles can bring out the worst in heirs and advisers can help smooth the waters. Dow Jones' Arden Dale explains.




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K C P resumes operations at engineering unit and cement production unit

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Shree Cement consolidated net profit rises 57.60% in the March 2020 quarter

Sales decline 2.13% to Rs 3415.14 crore




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Uttam Galva Steels reports consolidated net loss of Rs 536.04 crore in the March 2020 quarter

Sales decline 57.18% to Rs 118.66 crore




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Post win, Jayalalithaa meets TN Governor, stakes claim to form govt

This is for the first time since MGR's death in 1987 that a party will return to power for a second straight term in Tamil Nadu




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Jayalalithaa keeps five poll promises on Day 1

AIADMK chief becomes Tamil Nadu CM for the sixth time




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Power sector does not need 'crutches' of tax breaks: Goyal

Minister says UDAY scheme will itself help save Rs 1.8 lakh crore annually within next three years




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Steel sector seeks govt support on lines of textiles, sugar

Apart from duty safeguards, industry also seeks year-long moratorium on payment of interest and principle




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If others are moving Titanic, we're moving a speedboat: Kunal Bahl

Bahl's company has been in the middle of some firefighting over reports on how there are efforts to downsize as cash is depleting




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Dr Reddy's Labs hits 52-week high after Srikakulam facility gets EIR from USFDA

Dr. Reddy's Laboratories jumped 4.84% to Rs 4020 after the company said its manufacturing plant at Srikakulam in Andhra Pradesh received the Establishment Inspection Report (EIR) from US drug regulator.




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Sensex up 430 pts; Europe opens in green

At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 433.52 points or 1.38% at 31,876.29. The Nifty 50 index rose 120 points or 1.3% at 9,319.05




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Shree Cement Q4 PAT jumps 58% YoY to Rs 535 cr

On a consolidated basis, Shree Cement's net profit jumped 57.6% to Rs 535.93 crore on 2.1% decline in net sales to Rs 3,415.14 crore in Q4 March 2020 over Q4 March 2019.




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COVID-19 deaths in Italy exceed 30,000

The number of people in Italy who've died with COVID-19 infections has topped 30,000. The Health Ministry registered 243 deaths on Friday, bringing the total of those who died in the country to 30,201. Italy was the first country in Europe with a major outbreak of the coronavirus. Authorities say many more likely died with the infection at home or in nursing homes without being diagnosed. With 1,327 more cases registered in the 24-hour period ending Friday evening, Italy now tallies 217,185 confirmed coronavirus infections. Some 11,000 more people have recovered from the illness than are currently positive for the infection. Lombardy in the north continues to be the hardest-hit region, accounting for nearly one-half of the latest cases registered on Friday. Health and government authorities are concerned that partial easing earlier in the week of some lockdown measures, such as re-opening of public parks and gardens, could see an uptick in contagion if people ignore safety-distance ...




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Legislation introduced in Congress to give Green Cards to foreign nurses and doctors

US lawmakers have introduced a legislation in Congress to give unused green cards or permanent legal residency status to thousands of foreign nurses and doctors to meet the urgent needs of the overstretched healthcare sector in the country. The Healthcare Workforce Resilience Act would allow for recapturing green cards that were approved by Congress but unused in past years, allowing thousands of additional medical professionals to serve permanently in the United States. The legislation would send green cards to 25,000 nurses and 15,000 doctors during the COVID-19 pandemic and ensure that places like Iowa have the professionals they need to serve patients for years to come, a media release said. The move is likely to benefit a large number of Indian nurses and doctors, who are either on H-1B or J2 visas. In the House of Representatives, it has been introduced by lawmakers Abby Finkenauer, Brad Schneider, Tom Cole and Don Bacon. The bipartisan Senate companion bill is led by Senators ..




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NASCAR's empty-oval return means lost races at three tracks

American stock car auto racing's comeback later this month from the coronavirus pandemic will cost three tracks their 2020 season races with more schedule adjustments coming soon. That was the word Friday from the National Association for Stock Car Auto Racing (NASCAR), the closed-cockpit series that is the most popular form of US auto racing. Races at Sonoma, California; Joliet, Illinois and Richmond, Virginia were named those moved to ovals without spectators this month to jumpstart the US revival of sport in the wake of the coronavirus pandemic shutdown. Sonoma Raceway officials said the road course tried to find a new date to replace June 14 but couldn't "given the ongoing uncertainty around large events in California." It will be staged instead on May 27 at Charlotte Motor Speedway, which will host a regularly scheduled race three days earlier in what will essentially be made-for-television events. A planned June 21 race at Chicagoland will be the May 17 comeback event at ...




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Nadal: Djokovic will need vaccine if required by the tour

Rafael Nadal says Novak Djokovic will need to be vaccinated to keep playing if the governing bodies of tennis make coronavirus shots obligatory once they become available. Nadal told the Spanish newspaper La Voz de Galicia this week that Djokovic and all players will have to follow the rules when tennis eventually returns to action. Nadal said no one can be forced to take the vaccine and everyone should be free to make their choices, but all players will have to comply if tennis officials require vaccination to travel and to protect everyone on the tour. Then Djokovic will have to be vaccinated if he wants to keep playing tennis at the top level, Nadal said. The same for me. Everyone will have to follow the rules, just like now we have to stay at home. Djokovic recently said he was against taking a vaccine for the coronavirus even if it became mandatory to travel. He later said he was open to changing his mind. If the ATP or the International Tennis Federation obligates us to take the




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Real's Jovic suffers heel break

Real Madrid attacker Luka Jovic has fracture his right heel, the La Liga giants have announced. In a statement, Real said the 22-year-old's injury had been diagnosed during tests at the club's medical centre, but didn't say how long they expect him to be out of action. According to Spanish media, Serbia's Jovic picked up the injury while training at home shortly after returning to Spain from his home country at the start of the week. Jovic caused controversy in March when he left for Serbia while Real were in quarantine after some of the club's basketball players tested positive for coronavirus. He subsequently explained his test for the virus was negative. He arrived at Real last summer from Eintracht Frankfurt for a reported fee of 60 million euros ($65.1 million). Before the season was suspended due to the COVID-19 pandemic, he had played 22 times for the capital city club in all competitions, scoring twice.




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COVID-19: Legislation introduced in Congress to give Green Card to 40,000 foreign nurses, doctors

Several American lawmakers have introduced a legislation in Congress to offer the 40,000 unused green cards to thousands of foreign nurses and doctors to meet the urgent needs of the overstretched healthcare sector in the US, the worst hit nation by the coronavirus pandemic. The US has nearly 1,284,000 cases of confirmed COVID-19 cases and over 77,000 people have died due to the highly contagious disease. The Healthcare Workforce Resilience Act would allow for recapturing green cards that were approved by Congress but unused in past years, allowing thousands of additional medical professionals to serve permanently in the United States. The legislation would send green cards to 25,000 nurses and 15,000 doctors during the COVID-19 pandemic and ensure that states like Iowa have the professionals they need to serve patients for years to come, a media release said. The move is likely to benefit a large number of Indian nurses and doctors in the US, who are either on H-1B or J2 visas. The ..




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Singapore sees drop in new coronavirus cases

Singapore on Saturday saw a drop in its daily tally of new coronavirus cases as the city-state reported 753 new COVID-19 cases, taking the country's total to 22,460, majority of them foreign nationals, including Indians, living in dormitories. On Friday, Singapore reported 768 new cases of coronavirus. The Health Ministry said the vast majority of the 753 new cases reported on Saturday are work permit holders (foreigners) residing in worker dormitories. Nine cases are Singapore citizens or permanent residents (foreigners). As of Friday, 19,232 of the 323,000 foreign workers living in dormitories, or nearly six per cent, have tested positive for COVID-19, reported The Straits Times. Singapore had placed 18,402 coronavirus patients in isolation while 1,245 are hospitalised by Friday, according to a data from the Health Ministry. The Ministry said 1,245 cases were still in hospital while 20 people have died of the disease. Singapore currently has the highest number of coronavirus cases ..




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Luke Greenfield to direct action-thriller 'We Are Untouchable'

Luke Greenfield, the director of films such as "The Girl Next Door" and "Something Borrowed", will helm STXfilms' upcoming movie "We Are Untouchable". The director will also co-write the action-thriller in collaboration with Captain Mauzner, reported Deadline. The screenplay has been penned by Oritte Bendory and Aaron Feldman with revisions by Michael Diliberti and by Anthony Drazan. The story is about a group of international college grads working in Mexico City at their respective diplomatic embassies. "By day, they're slaving away as mailroom assistants getting abused by their bosses. But when they find out they have diplomatic immunity and they can't get arrested for anything they do they go wild with it and live out their fantasies. "Soon they're living double lives in the ultimate wish-fulfillment...until it isn't. They gradually fall into serious danger when they get entangled with a violent and savage group who extort them for their 'get out of jail free' cards," the ...




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Russian volunteers search for fallen World War II soldiers

Crouching over the sun-drenched soil, Alfred Abayev picks up a charred fragment of a Soviet warplane downed in a World War II battle with advancing Nazi forces. You can see it was burning, he says, pointing at the weathered trace of a red star. Abayev and members of his search team rummage the steppe for remains of the Red Army soldiers who fell in the autumn of 1942 in fierce fighting with Nazi troops pushing toward the Caspian Sea south of Stalingrad. Stiff resistance by the Red Army stopped the Wehrmacht onslaught in the steppes of Kalmykia, and months later the enemy's forces were encircled in Stalingrad and surrendered, a major defeat for the Nazis that marked a turning point in World War II. The search for remains of fallen Red Army soldiers near Khulkhuta, in Kalmykia, a southern province that lies between the Volga River and the Caspian Sea, is part of a broad effort by myriad volunteer groups across Russia to pay tribute to fallen World War II soldiers. Russia's losses stood .




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The Equalizer', Silence of the Lambs' TV reboots greenlit at CBS

CBS network has given straight-to-season orders to TV spin-offs based on movies The Equalizer and Silence of the Lambs. The Silence of the Lambs series, titled Clarice, features Pretty Little Liars actor Rebecca Breeds as FBI agent Clarice Starling, the character portrayed by Jodie Foster and later Julianne Moore on the big screen. In The Equalizer reboot, Queen Latifah will play the role of a retired special-ops agent, the part previously essayed on TV and film by Edward Woodward and Denzel Washington. Chris Noth, Lorraine Toussaint, Tory Kittles, Liza Lapira, and Laya DeLeon Hayes also star. According to Entertainment Weekly, CBS also greenlit to series a new comedy from Chuck Lorre along with Marco Pennette titled B Positive. The network is planning to premiere the shows sometime later this year or in 2021.




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6-week-old baby dies of coronavirus in England

A six-week-old baby has become the youngest victim of coronavirus in England as the official death toll across hospitals and the wider community linked to COVID-19 hit 31,241 in the UK. The baby's death on Friday comes as Britain prepares for some easing in the strict lockdown measures in place to curb the spread of the deadly virus as it is believed that Britain is past the peak of the pandemic. British Prime Minister Boris Johnson is to make a televised address on Sunday, during which he will lay out a comprehensive plan to start unlocking the economy. However, Cabinet ministers have been warning against raising expectations beyond a modest easing of the social distancing rules in place to manage the pressure on the state-funded National Health Service (NHS). There are some concerns that people would start flouting the stay-at-home message during a long Bank Holiday weekend to mark the 75th anniversary of the World War II Victory in Europe (VE) Day on Friday. I'm conscious that ...




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Maldives sees rapid spike in coronavirus patients

The Maldives, an Indian Ocean archipelago nation with one of the world's most congested capitals, has seen a rapid rise in coronavirus cases over the past few weeks. Health officials predict that more than 77,000 people or a fourth of those currently living in the country could become infected, with more than 5,000 possibly needing intensive care treatment. Official figures updated Saturday showed 766 cases, including 743 that are still active. A vast majority of the patients are residents of Male, the capital. Three people have died so far. The Maldives, known for its luxury tourist resorts, reported its first case of COVID-19 in March, and until mid-April appeared to have contained the virus within the isolated resort islands that had been converted into quarantine centers. Male is highly congested, housing more than 150,000 people in a 5.8-square-kilometer (2.3-square-mile) area. The government had taken precautions to stop the virus from entering the capital by suspending ...




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Kohima COVID-19 test lab to be functional by May 12, Dimapur unit within 2 weeks: Govt in HC

The Nagaland government has assured the high court that the laboratory in Kohima for conducting COVID-19 detection tests will be functional by May 12. The state government informed the Kohima bench of the Gauhati High Court that finishing works for the lab have been completed and it would be functional by May 12. Additional Advocate General T B Jamir, however, told the bench comprising of Justice Songkhupchung Serto and Justice Hukato Swu that since the same technicians would be setting up the lab in Dimapur, at least two weeks are required to make that unit functional. The state government made the submission through an interim application filed on Thursday, praying for extension of time after the court on April 27 directed it to make the two labs functional within 10 days. The court on Friday directed the state government to make all efforts to make the lab at Kohima functional within five days and the one at Dimapur within two weeks. After two weeks, the state ...




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ZEE5 to release Nawazuddin's 'Ghoomketu' on May 22

Nawazuddin Siddiqui-starrer "Ghoomketu" will finally see the light of the day as the movie is set to premiere on ZEE5 on May 22. The film, directed Pushpendra Nath Mishraand produced by Phantom Films and Sony Pictures Networks (SPN), also features filmmaker Anurag Kashyap and actors Ila Arun, Raghubir Yadav, Swanand Kirkire and Ragini Khanna. Amitabh Bachchan, Ranveer Singh, Sonakshi Sinha, Chitrangada Singh,Lauren Gottlieb and filmmaker Nikhil Advani have made special appearances. "Ghoomkety" is a comedy- drama told from the viewpoint of an inexperienced writer (Nawazuddin) struggling to make it big in the film industry in Mumbai. "On his quest to come up with a great story, he is inspired by day to day mundane life activities. Will his ambition and determination exceed his talents? Or will a corrupt cop (Kashyap), who is on a mission to find Ghoomketu, put a brake on his 30-day escapade?" the official plotline of the movie read. Nawazuddin described 'Ghoomketu' as a quirky and ...




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SBI complains to CBI after Rs 411 crore loan defaulter flee country

Three promoters of Ram Dev International, recently booked by the CBI for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint, officials said on Saturday. The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said. The company had three rice milling plants, besides eight sorting and grading units in Karnal district with offices in Saudi Arabia and Dubai for trading purposes, the SBI complaint said. Besides SBI, other members of consortium are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank, they said. The Central Bureau of Investigation (CBI) did not carry out any searches in the matter because of the




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Providing adequate ration to Rohingya refugees during COVID-19 lockdown: AAP govt to HC

The AAP government has told the Delhi High Court that adequate ration was being provided to Rohingya families at three camps in south and north east parts of the city during the coronavirus-induced lockdown. The submission was made by the Delhi government before a bench of Justices Manmohan and Sanjeev Narula, which was hearing a plea seeking immediate relief for the Rohingya families at settlements in Khajuri Khas in north east Delhi and Shram Vihar and Madanpur Khadar in south Delhi. Delhi government additional standing counsel Sanjoy Ghose and advocate Urvi Mohan also told the court that four hunger centres were being run near the settlements mentioned in the plea. The petitioner, Fazal Abdali, claimed that the Rohingyas at these three camps were being denied relief under the various schemes announced by the Delhi government to combat the coronavirus pandemic. The bench, however, noted that the petitioner had not given any specific particulars of the neglect faced by these families