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China faces second bond default amid world’s biggest debt overload

Huatong Road & Bridge Group Co, based in the northern province of Shanxi, said it may miss a 400 million yuan ($64.5 million) note payment due July 23.




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China shares surge on cross-border trading hopes, solid factory survey

China shares rose sharply as investors plowed into blue chips, cheered by progress of a trading plan that will soon make it much easier for foreigners to buy Shanghai stocks.




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Wall Street's brightest minds reveal the most important charts in the world

We asked dozens of our favorite analysts, economists, strategists, and portfolio managers on Wall Street and around the world to send us their most important charts.




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China shares edge higher on strong July exports, Hong Kong trims losses

The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.6 per cent. They are now down 0.8 and 1.5 per cent this week, respectively.




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Morgan Stanley warns not to buy Chinese stocks as prices could plunge a further 20 per cent

China's stock market got wrecked with the Shanghai Composite index crashing by 7.4 per cent. The market now down 19 per cent from its high.




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Jim Rogers, legendary investor, thinks US stocks are going to fall

In an interview, Rogers said that instead of buying US stocks, he is investing in Asian markets - Japan, Russia, and China.




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The cloud is an effective way to deliver IT to customers: George Kurian, Netapp

George Kurian, the newly minted CEO of Netapp talks about the opportunities in India and the large trends changing the storage industry




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How liquor giant Diageo is changing and being changed by United Spirits

"We want it to be a fusion of the best of the two cultures, rather than a Diageo-sation of USL."




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The auditor is much maligned, but essential to protect the organisation

Rules are created to protect organisations. Some rules create efficiency while others de-risk the company.




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Consequence of digital transformation is the human transformation of customer relations

Smart companies automate the operational part of the business - to create time for their people to connect with customers




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In a startup environment, there is no clear structure or process, says Faasos's Revant Bhate

Management at Faasos are not people from food industry but mostly entrepreneurs who wanted to build something different on their own, says Revant Bhate.




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Work done in the first five months gave Paytm a strong foundation, says founder Vijay Shekhar Sharma

The team was super capable in their verticals, even though they hadn't previously worked in a startup environment, says Paytm's Vijay Shekhar Sharma.




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Global mergers and acquisitions hit all-time high in 2015 at $4.86 trillion: Dealogic report

Global M&A volume at USD 4.86 trillion in 2015 was the highest on record for any year, surpassing the previous record of USD 4.61 trillion in 2007.




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Kalyan Jewellers to spend Rs 20 crore to build 2000 homes for poor

Kalyan Jewellers has committed Rs 20 crore towards the initiative as part of its endeavour to support the communities with which it operates its business, it said.




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Mutually discuss Interconnection issue and sort it out: Manoj Sinha to telcos

Interconnection enables mobile users to make calls to customers of other networks and is, therefore, crucial for smooth functioning of mobile services.




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Indian Oil Corporation plan to cut debt hinges on demand revival

Gross debt at Indian Oil, the nation’s largest refiner and fossil fuel retailer, has risen from ₹86,400 crore at the beginning of 2019-20 to ₹1,16,000 crore at the start of 2020-21. About 50% jump in debt in the January-March quarter came following the weakening of demand due to the Covid-19 pandemic, dividend outflow and delay in fuel subsidy transfer by the government.




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Numaligarh Refinery to import 21TMT of crude oil from Petronas Malaysia

Managing Director of NRL S K Barua tweeted, “NRL is importing 21TMT crude oil from Petronas through Haldia port to be rail freighted to Numaligarh for future processing. A step towards ensuring energy security.”




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Excise duty raised on petrol and diesel: What it means for you

On Tuesday, Centre hiked excise duties on petrol by Rs 10 per litre and on diesel by Rs 13 per litre.




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Petrol, diesel to cost more in Rajasthan with hike in VAT rates

Before lockdown, the VAT rate on petrol was 30 per cent and on diesel was 22 per cent.




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Adani Gas invokes ‘force majeure’ amidst Covid-19 lockdown

The Gautam Adani-led utility firm that sells piped natural gas (PNG) to households and compressed natural gas (CNG) for vehicles hopes to make up for the lost time on new projects once the lockdown is over and is sticking to its capital expenditure plan of Rs 1,500 crore for the current fiscal, its CEO Suresh Manglani has said.




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Huge provisioning at NBFCs likely for Jan-Feb bad loans

Auditors and company executives told that higher provisioning may be necessary as the pandemic-induced sharp dip would have increased difficulties for these businesses already hit by the ongoing slowdown. In many cases, auditors have asked companies to provide up to 50%.




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RBI’s call to form payments entity catches India Inc fancy

Reliance, Paytm & BSE are among those interested in securing licences to run an entity with powers like NPCI.




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Liquidity position strong, can cater to liabilities for 6-7 months amid COVID-19 crisis: SCNL

In addition to the Rs 1,600 crore liquidity position, the company said it has undrawn sanctions of Rs 900 crore as on March 31, 2020. The Gurugram-headquartered micro lender also said that it will offer moratorium to all the existing borrowers across India.




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Disaster planning top priority for India Inc

For India Inc, disaster planning for business continuity and survival has emerged as the top priority.




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Contactless payments, digital loans make kiranas open doors to fintech

Top fintech companies are, therefore, rushing to tap into this new consumer trend, with several of them offering digital solutions to small merchants. These range from instant loans to digital billing to even geotagging, as companies believe the merchant digitisation business will boom when the lockdown eases.




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Rush for gold loans seen as Indians seek refuge from slowdown

Indians may borrow more against their stash of gold as the world’s biggest lockdown raises financial stress .




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MFIs, NBFCs to resume full operations in green and orange zones

Microfinance institutions and non-bank lenders are set to resume full-fledged operations in green and orange zones, or areas designated as safe from the Covid-19 virus outbreak, after the government announced lifting of several restrictions.




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Small businesses will opt for gold loans to restart business

Gold loans for business purposes are mostly used by small businesses as short-term working capital for stocking. With gold prices hovering around Rs 47,000 per 10 gm, small businesses will need to take loans to resume operations, said industry executives.




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MFIs set to resume operations in orange, green zones

The lenders have also agreed to extend the three-month moratorium provided by the RBI on term loans to borrowers, the statement said, adding, collections will be made only from customers who have opted out of it.




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NBFCs ask RBI for one-time restructuring of all loans till Mar 2021

​ NBFCs have also demanded for extension of the Reserve Bank of India's moratorium to them, relaxation on provisioning norms and additional funding from Small industrial Development Bank of India (SIDBI) and National Bank for Agriculture and Rural Development (NABARD) through refinance mechanism.




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Power Finance Corporation may institutionalize work-from-home

The company has already has the IT setup and provisions for employees to be allowed to work form home in future as well, said PK Singh, director (commercial) in-charge of HR. Edited excerpts of an interview with ET’s Rica Bhattacharyya.




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Failed CKP Co-operative Bank depositors among first beneficiaries of higher deposit cover

The bank which was under RBI's administration since 2014, failed to come up with a satisfactory revival plan, after which the banking regulator cancelled its license. Majority of the bank's depositors now get 100 per cent of their money back. The government hiked the minimum deposit insurance cover from Rs 1 lakh to Rs 5 lakh in its budget announcement in February.




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Working capital loan sanctions doubled in 2 days: Nirmala Sitharaman

A day after suggesting that Indian economy is "poised to recover" as indicated by high levels of loan sanctions by banks over last two months, Finance Minister Nirmala Sitharaman on Saturday pointed out that banks are leaving no stone unturned to ensure that the current coronavirus situation does not result in liquidity crisis for businesses.




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Skymet estimates record 113.66 million tonnes of wheat output

There is slight difference in Skymet’s estimation and the government’s second advance estimates, which was released in February this year. According to government’s second advance estimate, the out of wheat is likely to be 106.21 million tonnes while that of gram would be 11.22 million tonnes.




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Punjab announces 50 per cent subsidy on machinery for paddy, maize cultivation

Punjab Agriculture Secretary Kahan Singh Pannu said that 50% subsidy would be provided to women, scheduled castes and 40% to other farmers. The secretary further said that farmers had been asked to submit their applications to avail the benefit of subsidy on machinery required for paddy and maize cultivation till 10 May.




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India exports 33.5 lakh tonnes sugar so far in 2019-20 marketing year

The government has allowed export of 60 lakh tonnes of sugar under Maximum Admissible Export Quota (MAEQ) during 2019-20 marketing year to liquidate surplus sugar in global markets. The country had exported 38 lakh tonnes of sugar during 2018-19 marketing year.




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Under lockdown, Ramjan brings in breathable air for Pineapple

With around 6 lakh ton annual production in almost 20,000 ha land, Bidhannagar in the foothills of northern West Bengal contributes around 80% to the state output that is near half of India's total 20 lakh Metric Ton (MT) yield. India is the fifth largest contributor to the global production of around 275 lakh MT.




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Govt to roll out regulatory guidelines for biostimulants

“Framing of rules is in final stages. As per the proposed guidelines, biostimulants will have to be first registered with government and have to prove efficacy before hitting in the market. Proper labelling will have to be done including name of manufacturers, ingredients and expiry date,” said a senior agriculture ministry official.




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Mumbai’s APMC to keep market shut for a week

There was growing pressure from local corporators and the mayor of Navi Mumbai for closure of the market. A meeting of all the stakeholders was held on Friday, which was attended by Anoop Kumar, principal secretary (marketing).




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As China stumbles, India plans big exports push in bulk drugs

The government is mulling incentives for reviving old pharmaceutical ingredient units.




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Govt may extend interest equalisation scheme for export sector

"We are ensuring that exports come back on the track. The export data for March is an indicator; the impact of the present crisis could be seen from the export data of March and that for April would also be similar," a Ficci statement said.




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India open to mutually benefitting collaborations with interested countries: Goyal

The minister said India gives the most importance to "the fair dealing and the reciprocity" while signing any multilateral agreements. He said it was not there because of which India did not participate in the Regional Comprehensive Economic Partnership (RCEP).




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Covid-19 crisis has highlighted e-commerce importance,cooperation in cross-border goods, services movement: WTO

Highlighting that network capacity and higher bandwidth services have proved to be crucial, not only during the pandemic itself, but also for e-commerce and economic inclusion in general, it said in an information note: “What can WTO members do to improve communications networks and services?”




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Govt mulling introduction of import substitution policy: Gadkari

The Minister for MSME and Road Transport and Highways said a policy on import substitution is being thought of in the wake of the economic situation created by the COVID-19 pandemic. Gadkari said the industry may not be shut for a long time, and several relaxations could be given by the end of May.




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Export sops likely to continue till March 2021

The commerce and industry ministry is considering a plan to extend the Merchandise Exports from India Scheme (MEIS) till March 31, 2021. The proposal was mentioned in a letter to development commissioners of special economic zones from the Department of Commerce. ET has reviewed the letter.




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Brazil’s coffee harvest brews trouble for Indian exporters

Italy, the largest buyer of Indian coffee, started relaxing the restrictions from Monday much to the relief of the Indian coffee industry. However, the exporters fear intense price pressure from Brazil which is expecting a normal crop.




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India looks to lure more than 1,000 American companies out of China

Trump’s move to blame China for the Covid-19 outbreak is expected to worsen global trade ties.




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SEZ units want customs duty waiver for domestic sale as exports plummet

At present, SEZs are also not able to sell their products in the domestic market, as payment of customs duty as per Section 30 of SEZ Act, 2005, is making their products uncompetitive, the Export Promotion Council for EOUs and SEZs (EPCES) said in a letter to commerce and industry minister Piyush Goyal.




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Rice exports to Bangladesh via West Bengal likely to commence soon

Rice exports to Bangladesh through West Bengal will likely begin soon as the ministry of home affairs (MHA) has taken a tough stand against the state government for not allowing border trade with India's eastern neighbour.




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RBI announces Rs 50,000-crore Special Liquidity Facility for mutual funds

The scheme is available from today, that is, April 27. It will be available until May 11 or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.