BUSINESS
Pakistan to resume negotiations with IMF
The IMF had recently suspended its programme amid the political turmoil in Pakistan, stating that it would re-initiate talks with the new government that would take charge of the country. Its decision came when then Prime Minister Imran Khan was faced with a major challenge when opposition parties joined together and tabled a no-confidence motion, which later led to his ouster and brought in Shahbaz Sharif as his successor.
108.90 lakh paddy farmers benefited with procurement at MSP, 5.86 lakh for wheat
About 108.90 lakh farmers have benefitted with MSP value of Rs 1,47,800.28 crore as part of the paddy procurement in Kharif Marketing Season (KMS) 2021-22 at MSP. "Wheat procurement has recently commenced in Rabi Marketing Season 2022-23 in the states of Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Uttrakhand, Chandigarh, Himachal Pradesh, Gujarat, and Rajasthan," an official said.
$7.2 trillion of China's GDP under lockdown
Together, they represent 40 per cent, or $7.2 trillion, of annual gross domestic product for the world's second-largest economy, according to data from Nomura Holdings, CNN reported. Analysts are ringing warning bells, but say investors aren't properly assessing how serious the global economic fallout might be from these prolonged isolation orders.
India's daily domestic air passenger traffic crosses 4 lakh mark
In a tweet, he said: "And we hit the 4 lakh mark for the first time in the last two years!" On Sunday, 407,975 domestic passengers were ferried on 2,838 flights. The total flight movement stood at 5,672. According to industry experts, lower Covid infection rate as well as lesser restrictions and holiday travel propped up the passenger numbers.
Now buy movie tickets in US with Dogecoin
The company's CEO Adam Aron announced via Twitter that the movie theater chain has integrated support for the cryptocurrencies through a Bitpay integration. "The AMC mobile app for AMC's U.S. theatres now accepts online payments using Dogecoin, Shiba Inu, and other crypto currencies -- thanks to Bitpay," Aron tweeted.
Investors shed Rs 2.5 trillion as equity indices plunge sharply
All India market capitalisation of BSE-listed companies are currently at 2,69,58,392 crore, against 27,212,168 crore on April 13. Equity markets were closed on Thursday and Friday on account of Dr. Baba Saheb Ambedkar Jayanti/Mahavir Jayanti and Good Friday, respectively. Continuing its downtrend from the morning session, benchmark Sensex and Nifty indices plunged around 2 per cent each at the writing of this report.
Direct air connectivity with Dhaka set to boost medical tourism in Hyderabad
Apart from boosting tourism and leisure travel between Bangladesh and Telangana, the direct flights are expected to give a fillip to medical travel to Hyderabad. The IndiGo Flight 6E 1931 will depart from GMR Hyderabad International Airport at 12.45 p.m. The return IndiGo Flight 6E 1932 from Dhaka will arrive in Hyderabad at 6.50 p.m. The two hours forty-five minutes flight will operate between GMR Hyderabad International Airport and Dhaka twice a week - Saturday and Monday.
Tata Power shares down over 5% on profit booking; Co's arm raises Rs 4k cr
Analysts attribute Monday's decline to profit booking. At 2.16 p.m., the shares traded 5.6 per cent down at Rs 257.65.The first round of capital infusion is expected to be completed by June 2022 and the balance funds will be infused by the end of calendar year 2022. The proposed investment is expected to fund Tata Power Renewables' aggressive growth plans.
Sri Lanka to take steps to stabilise economy
Siriwardana made the remarks as the Sri Lankan government sent a delegation to the International Monetary Fund (IMF) to seek assistance. Figures show that around 125 billion Sri Lankan rupees ($384 million) of banknotes were printed in April and the government expenditure has also increased despite escalating foreign exchange shortages, Xinhua news agency reported.
Growth opportunities will result Indian renewable companies highly leveraged: S&P Global Ratings
In its new report "India Renewables: Growth Trumps Deleveraging" S&P Global Ratings said the multi-decade growth opportunities for renewable energy in India will result in persistently high leverage across the sector. "Weaker operating performance, delayed receivables collections and high capital expenditure will weigh on credit profiles for Indian renewables," said S&P Global Ratings analyst Abhishek Dangra.
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