BUSINESS
Global business activity constrained by Covid pandemic in many regions
Global business activity in many regions continues to be constrained by the ongoing Covid-19 pandemic, despite the success of the roll-out of vaccines in the advanced economies in cutting deaths, a report by Dun and Bradstreet said. However, the difficulties of accessing sufficient doses and rolling them out in most countries will ensure that world remains vulnerable to new cases and variants, it added.
Banks move NCLT to invoke personal guarantee of promoters
According to banking sources, leading banks, including State Bank of India (SBI), Bank of Baroda (BOB), and Union Bank of India (UBI) have approached different benches of NCLT to invoke the personal guarantee of 17 big defaulters including Atul Punj of Punj Lloyd (Rs 3,000 crore), Sanjay Singal of Bhushan Power and Steel (Rs 47,150 crore), and Wadhawans of DHFL (Rs 79,000 crore).
Stock Talk: Top 5 two and three wheeler companies stocks on Sensex today
The two-wheeler industry in India has grown rapidly since the announcement of the process of liberalization in 1991. Previously, there were only a handful of two-wheeler models available in the country.
Equity indices in green, Sensex up 230 points
The Indian stock market traded on a positive note on Tuesday morning with the BSE Sensex gaining over 230 points. The Nifty50 was above the 15,750 mark. Buying was witnessed in banking and finance stocks while IT and telecom stocks fell. Around 10.15 a.m., Sensex was trading at 52,609.36, higher by 236.67 points or 0.45 per cent from its previous close of 52,372.69.
Relief for consumers as fuel rates remain static on Tuesday
After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts and demand concerns over rising Covid cases in several European countries. The oil marketing companies kept the retail price of petrol and diesel unchanged on Tuesday to analyse the global oil price movement before making further revisions.
Numerous instances of delay in payment by Zomato, Swiggy: NRAI
It said Zomato and Swiggy are forcing restaurant partners to give discounts on their platforms to maintain good visibility on the platform. They have shifted the entire cost burden to the restaurants. On July 1, the National Restaurant Association of India (NRAI) filed information with the Competition Commission of India highlighting the inherently anti-competitive practices of Zomato and Swiggy.
RBI comes up with scheme for retail investment into govt securities
The scheme, to help retail investors or individuals open and maintain the 'Retail Direct Gilt Account' (RDG Account) with the central bank, will be commenced in a later date, said an RBI statement. RDG Account can be opened through an online portal provided for the purpose of the scheme. The portal will also give the registered users facilities to access to primary issuance of Government securities and access to NDS-OM.
Jio tops subscriber race in April, Vodafone Idea user base erodes
With this addition, Jio's subscriber base has increased to over 42.76 crore users, showed data released by the Telecom Regulatory Authority of India (TRAI). Bharti Airtel added over 5.17 lakh users during the month under review, taking its subscriber base to over 35.29 crore. Vodafone Idea, on the other hand, eroded its subscriber base by over 18.10 lakh users to more than 28.19 crore.
Framework for International Trade Finance Services Platforms issued
This framework will provide an opportunity to the participants to avail trade finance facilities for trade transactions such as export invoice trade financing, reverse trade financing, bill discounting under Letter of Credit, Supply Chain Finance for Exporters, Export Credit (Packing Credit), Insurance/Credit Guarantee, Factoring and any other eligible product, on the ITFS platform.
India's June retail inflation eases sequentially, but still over 6%
According to the data furnished by the National Statistical Office (NSO), the Consumer Price Index (CPI) slipped to 6.26 per cent last month from 6.30 per cent in May. Region wise, the CPI Urban rose to 6.37 per cent last month from 5.91 per cent in May, and the CPI Rural climbed to 6.16 per cent in June from 6.55 per cent in May. The CFPI readings measure the changes in retail prices of food products.
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