BUSINESS
Uber announces $250mn stimulus for drivers
"After a year of shutdowns and staying in, Americans are getting vaccinated and cities are opening up -- and, as they do, Uber is starting to come back. As we recover, we want to reinvest in drivers," Dennis Cinelli, Vice President, US and Canada Mobility at Uber, wrote in a blog post on Wednesday.
Vi Business unveils Integrated IoT Solutions
"With this industry-first initiative, VIL has become the only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security and support," the company said in a regulatory filing.
NBFCs to face asset quality, liquidity risk due to Covid 2.0
The credit rating agency said it had revised India's gross domestic product (GDP) forecast for the fiscal year ending March 2022 (FY22) to 12.8 per cent in its March 2021 Global Economic Outlook, from 11 per cent in the previous forecast in December 2020 due to the unexpectedly strong rebound in economic activity in late 2020 and early 2021.
RBI asks banks to put in place policy to refund 'interest on interest'
In a major relief to big borrowers, the Supreme Court last month ruled that no penal or compound interest would be charged on any loans, including those above Rs 2 crore, during the six-month moratorium announced by the government against the backdrop of the Covid-19 pandemic.
IMF chief urges policymakers to foster fair recovery
"The good news is that there is light at the end of the tunnel. After the worst global recession since the second world war, the recovery is underway," Georgieva said in her opening remarks at a virtual press conference during the IMF/World Bank Spring Meetings on Wednesday, Xinhua news agency reported.
Rise in prices of pulses, veggies and eatables upsets kitchen budgets
With the import of edible oil becoming more expensive and diesel prices rising in the country, items of everyday consumption have become even more expensive. The problems of the common man have been further compounded by the resurgence of Covid-19 cases in the country.
Resurgent Covid: Rising infections to subdue growth
Besides, economy watchers cite partial restrictions as well as localised lockdowns as real "demand killers".However, the shock of the initial lockdown in 2020 is not expected to be repeated this time around due to excessive liquidity, low-interest rates, combined with the experience gained by India Inc in handling the situation last year.
Rupee slips on RBI's dovish stance, 'loose' policy
Accordingly, the rupee closed at 74.55 to a US dollar after the Reserve Bank of India assured the markets of a stable and orderly evolution of the yield curve via a specific amount of open market purchases of government securities.On Wednesday, Governor Shaktikanta Das said that the RBI will conduct G-SAP 1.0 to purchase Rs one lakh crore worth of government securities.
IT spending in India to reach $93B in 2021: Gartner
"IT no longer just supports corporate operations as it traditionally has, but is fully participating in business value delivery," John-David Lovelock, Distinguished Research Vice President at Gartner, said in a statement.
Boeing forecasts demand for over 2,200 new aircraft in India by 2041
The CMO cited that Covid-19 pandemic has sharply reduced Indian air travel last year, however, the country's domestic passenger traffic is recovering more rapidly than in most other countries and regions, recently reaching 76 per cent of pre-pandemic levels.
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