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  Rupee gains 25 paise to 75.66 against dollar on optimism over COVID-19 vaccine

  May 19, 2020 17:54 IST

  The rupee appreciated by 25 paise to settle at 75.66 against the US dollar on Tuesday as reports of initial success in COVID-19 vaccine trials boosted investor sentiment world over.

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  Govt extends deadline to fulfill contractual obligations by up to 6 months

  May 19, 2020 17:22 IST

  The Finance Ministry has extended the deadline for fulfillment of contractual obligations of all government projects, including public-private partnerships (PPP), which were due for completion on or after February 20, by up to six months in view of COVID-19 crisis.

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  Sensex rises 167 points; Bharti Airtel soars 11 per cent

  May 19, 2020 17:55 IST

  Equity benchmark Sensex rose over 167 points on Tuesday led by gains in Bharti Airtel, HDFC and ITC amid positive cues from other Asian markets.After rallying over 700 points in a volatile session, the 30-share index finished 167.19 points or 0.56 per cent higher at 30,196.17.

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  Fiat, Tata Motors JV plant resumes operations at Ranjangaon

  May 19, 2020 13:18 IST

  Fiat India Automobiles Pvt Ltd (FIAPL) on Tuesday said Ranjangaon-based manufacturing facility, co-owned by it and Tata Motors, has resumed operations. 

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  New EPFO Rules: EPF contribution cut to 10% for May, June, July. Key points to know

  May 19, 2020 13:19 IST

  The Ministry of Labour & Employment has implemented new rules that allow for reduced employees' provident fund (EPF) contributions for three months till July. Here are key points to know about new EPF rules:

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  Package for financial sector to ease asset risks, but won't fully offset COVID-19 blow: Moody's

  May 19, 2020 12:31 IST

  Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 lakh crore-economic package will help ease their asset risk, but will not fully offset the negative impact from the COVID-19 outbreak.

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  Bharti Airtel rallies 10 pc after Q4 earnings, hits 1-year high

  May 19, 2020 11:57 IST

  Shares of Bharti Airtel on Tuesday zoomed 10 per cent after the company reported consolidated revenue of Rs 23,722.7 crore during the reported quarter on broad-based strength, with all segments registering healthy underlying growth.

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  Bharti Airtel Q4 Results 2020: Telco loss at Rs 5,237 cr; full year losses balloon to Rs 32,183 cr

  May 19, 2020 11:26 IST

  Telecom operator Bharti Airtel on Monday posted a consolidated loss of Rs 5,237 crore in the fourth quarter ended fiscal year 2020, mainly on account of making provision for paying statutory dues.

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  Sensex jumps over 400 points in opening session; Nifty tops 8,900

  May 19, 2020 10:04 IST

  In the previous session, the BSE barometer settled 1,068.75 points or 3.44 per cent lower at 30,028.98, while the broader NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.

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  IndiGo, SpiceJet, other airlines resume online bookings for domestic flights for June

  May 19, 2020 8:37 IST

  Some airlines have started bookings for flights from June onwards, sources said on Monday amid commercial flight services remaining suspended till May 31 due to the nationwide lockdown. Commercial flights have been suspended since March 25 when the lockdown began to curb spreading of coronavirus infections.

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  Automakers help restart US industry as globe reopens further

  May 19, 2020 7:34 IST

  More than 130,000 autoworkers returned to factories across the U.S. for the first time in nearly two months Monday in one of the biggest steps yet to restart American industry, while an experimental vaccine against the coronavirus yielded encouraging results in a small and extremely early test.

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  Swiggy lays off 1,100 employees amid coronavirus crisis; shuts cloud kitchen business

  May 18, 2020 13:12 IST

  Food delivery platform Swiggy on Monday announced to lay off 1,100 employees spanning across grades and functions in the cities and head office over the next few days as Covid-19 continues to hurt its business.

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  Sensex plunges over 800 pts in early trade; bank stocks crack

  May 18, 2020 10:42 IST

  Equity benchmark Sensex plunged over 800 points in opening session on Monday dragged by losses in banking stocks as the government''s fiscal stimulus package failed to revive confidence in domestic investors. After hitting a low of 30,265.67, the 30-share index was trading 731.91 points or 2.35 per cent lower at 30,365.82.

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  13 bank staff from Hyderabad bank screened after visit by corona positive customer

  May 18, 2020 9:54 IST

  Samples of 13 employees of a bank in Hyderabad have been collected and sent for testing after authorities found that a coronavirus positive customer had visited their branch a few days ago for a transaction, officials said on Sunday.

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  Oppo suspends Noida factory operations after 6 workers test COVID-19 +ve

  May 18, 2020 12:17 IST

  At least six workers at the Greater Noida factory of Chinese smartphone brand Oppo have positive for coronavirus, leading to all operations being suspended till further notice. Oppo has suspended operations till the time it completes screening of all 3,000 employees at the plant.

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  Reliance Jio-General Atlantic deal: US equity firm invest ₹6,600 cr 1.34% stake

  May 17, 2020 17:59 IST

  The telecom unit of Reliance Industries Ltd (RIL) Reliance Jio has sold a 1.34 per cent to US-based private equity firm General Atlantic for Rs 6598.38 crore.

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  Raid at private liquor shop in Delhi's Pitampura for using duplicate barcodes on bottles

  May 17, 2020 16:03 IST

  Officials of the Delhi government's excise department raided a private alcohol shop in Pitampura for alleged irregularities in barcoding of liquor cases, an official said on Sunday.

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  12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM Sitharaman

  May 17, 2020 14:59 IST

  Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.

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  12 lakh EPFO members withdraw Rs 3,360 cr retirement savings during lockdown: FM Sitharaman

  May 17, 2020 14:41 IST

  Finance Minister Nirmala Sitharaman on Sunday said around 12 lakh members of the Employees' Provident Fund Organisation (EPFO) withdrew Rs 3,360 crore retirement savings during the coronavirus-induced lockdown.

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  Breakup of Modi govt's Rs 20 lakh crore economic booster

  May 17, 2020 13:19 IST

  Union Finance Minister Nirmala Sitharaman has announced the 5th and the final tranche of the Rs 20 lakh economic stimulus package announced by Prime Minister Narendra Modi on Tuesday. Big announcements were made by the finance minister on several fronts. From the Health Sector to the privatisation of public sector enterprises, Nirmala Sitharaman took the aggressive approach in healing the economy from the hit taken by the coronavirus pandemic. 

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  All sectors open to private companies, govt to announce new public sector enterprise policy

  May 17, 2020 12:50 IST

  Finance Minister Nirmala Sitharaman on Sunday said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs. Sitharaman said all sectors are open to the private sector while public sector enterprises will play an important role in defined areas. Accordingly, the government will announce a new policy.

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  Borrowing limit of states raised from 3 to 5% of Gross State Domestic Product

  May 17, 2020 13:30 IST

  Finance Minister Nirmala Sitharaman on Sunday said that the government has raised the borrowing limit of states from 3 per cent of Gross State Domestic Product to 5 per cent in 2020-21. This will add an extra availibility of Rs 4.28 lakh crore for the states.

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  Companies Act violations involving minor technical, procedural decriminalised

  May 17, 2020 12:28 IST

  Addressing a press conference, Finance Minister Nirmala Sitharaman announced decriminalisation of Companies Act violations involving minor technical and procedural defaults, majority of compoundable offences sections to be shifted to internal adjudication mechanism.

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  Govt announces additional Rs 40,000 crore for MNREGA to create additional jobs

  May 17, 2020 13:28 IST

  Announcing the fifth and final tranche of government's Rs 20 lakh crore economic stimulus package, Finance Minister Nirmala Sitharaman on Sunday said that the government has allocated additional Rs 40,000 crore over and above Rs 61,000 crore budgeted for MGNREGA to generate more jobs.

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  Tesla to build Cybertruck Gigafactory in Texas: Report

  May 17, 2020 11:56 IST

  Elon Musk-owned electric vehicle (EV) maker Tesla is reportedly planning to build its next Gigafactory factory to produce Cybertrucks in or near Austin, Texas. According to an Electrek report quoting a reliable source familiar with the matter, Musk is set on bringing the next Tesla Gigafactory, or ‘Terafactory', to Austin, Texas, or at least close to the city.

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  7 compoundable offences dropped as govt moves to decriminalise Companies Act defaults

  May 17, 2020 12:24 IST

  Union Finance Minister Nirmala Sitharaman has announced that the government has taken steps to ensure easing of insolvency procedures. Moving further to Decriminalise Companies Act defaults, the government has dropped 7 compoundable offences altogether

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  FM Sitharaman announces 7-step booster for economy

  May 17, 2020 13:36 IST

  Finance Minister Nirmala Sitharaman on Sunday announced measures taken by the government to boost economic activity in 7 sectors amid COVID-19 outbreak situation in the country.

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  IRCTC New Rule: Booking ticket for special trains? This feature is mandatory for passengers

  May 17, 2020 10:27 IST

  IRCTC New Rule: All passengers booking train tickets for the Rajdhani-type special trains and other trains that might be run in due course will have to first confirm that they are aware of the “quarantine protocol” of the states they are going to, Indian Railways said.