BUSINESS & STARTUP NEWS
IMF chief: 'Clear we have entered recession'
IMF chief Kristalina Georgieva said Friday.
"It is clear that we have entered a recession, as bed or worse than 2009," She said in an online press briefing. Georgieva said that a key concern of the "sudden stop" of the world economy is a wave of bankruptcies and layoffs that can not only undermine the recovery but can erode the fabric of our society. For the emerging market, she said the fund's estimates financial need of about $2.5 trillion to come of the current crisis, But she warned that the estimate is on the lower side. Over 80 countries already have requested emergency aid from the International Monetary Fund.
Sensex opens 1028 points lower, Nifty down 298 points
The benchmark BSE Sensex opened 1,028,23 points lower, or 3,45%, at 28,787,36 While the Nifty 50 index was down 298.80 points, or 3,45% at 8,361.45. Meanwhile, S&P Gobal Ratings has cut its estimate for india's GDP growth for the fiscal starting 1 April to 3.5% from its earlier forecast of 5.2%.
FIR against Noida firm after staff suspected of infecting 13 people with COVID- 19
An FIR has been filed against a Nodia-based company, suspected staff of having infected 13 other, including employees and their families with COVID-19, official said. The 'Cease Fire' firm allegedly didn't inform the health department about recently engaging a foreign national to conduct an audit. Two other employees, including its Mannaging Director, also recently returned from the UK.
Infosys employees arested for posting 'sneeze and spread virus'; Company sacks him
Infosys employee in bengaluru has been arrested for a Facebook post, in which he wrote,"Let's join hands, go out and sneeze with open mouth in public. Spread the virus" Meanwhile, the company said that the have completed their investigation on the social media post and has accordingly, "terminated the services of the employess".
Contribution by corporates to PM-CARES Fund to qualify as CSR expenditure
Finance Minister Nirmala Sitharaman tweeted. The PM-CARES Fund will provide relief to those affected by any kind of emergancy or distress situation amid coronavirus pandemic.
Oil price collapses to lowest level in 17 yrs amid coronavirus pandemic
US benchmark West Texes Intermedite fell 5.3% trading at $20 per barrel, while international benckmark Brent crude fell 6.5% at $23. Oil prices have fallen by over half during the past month as companies cut back or close production.
Automoblie manufacturers asked to make ventilators: Health Ministry
The Health Ministry said. The Defence Research and Development Organisation(DRDO) will begin manufacturing 20,000 N-95 masks per day within the next week, it added. the ministry informed that over 14,000 exising ventilators are earmarked for COVID- 19 patients.
Merger of 10 state-run banks to come into force from April 1, says RBL
Syndicate Bank branches will function as those of Canara Bank. Allahabad Bank will amalgamate with Indian Bank, while Andhra Bank and Corporation Bank will merge with Union Bank of India.
Saudi Arabia assures India of uninterrupted LPG supply: Oil minister
"Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement,"Pradhan tweeted. Pradhan and Prince Abdulaziz also spoke about global oil market developments.
Zoom updates iOS app to stop user data transfer to Facebook
Video-conferencing app Zoom. Motherboard reported. "Zoom takes its users' privacy extremely seriously....However, we were recently made awsre that the Facebook SDK was collocting Unncessary device data," Zoom stated. Earlier, Motherboard has reported that Zoom sent users' data without consent to Facebook.
India's GDP likely to grow at just 2% in 2020-21 ICRA
ICRA said India's GDP is likely to contract by 4.5% in the April-June 2020 quarter It added the GDP will rise by only 2% in 2020-21, impacted by the coronavrius pandemic. According to advanced NSO estimates, the economy was expected to grow at 5% in the current financial yrs.
Sensex opens 1028 points lower, Nifty down 298 points
The benchmark BSE Sensex opened 1,028,23 points lower, or 3,45%, at 28,787,36 While the Nifty 50 index was down 298.80 points, or 3,45% at 8,361.45. Meanwhile, S&P Gobal Ratings has cut its estimate for india's GDP growth for the fiscal starting 1 April to 3.5% from its earlier forecast of 5.2%.
FIR against Noida firm after staff suspected of infecting 13 people with COVID- 19
An FIR has been filed against a Nodia-based company, suspected staff of having infected 13 other, including employees and their families with COVID-19, official said. The 'Cease Fire' firm allegedly didn't inform the health department about recently engaging a foreign national to conduct an audit. Two other employees, including its Mannaging Director, also recently returned from the UK.
Infosys employees arested for posting 'sneeze and spread virus'; Company sacks him
Infosys employee in bengaluru has been arrested for a Facebook post, in which he wrote,"Let's join hands, go out and sneeze with open mouth in public. Spread the virus" Meanwhile, the company said that the have completed their investigation on the social media post and has accordingly, "terminated the services of the employess".
Contribution by corporates to PM-CARES Fund to qualify as CSR expenditure
Finance Minister Nirmala Sitharaman tweeted. The PM-CARES Fund will provide relief to those affected by any kind of emergancy or distress situation amid coronavirus pandemic.
Oil price collapses to lowest level in 17 yrs amid coronavirus pandemic
US benchmark West Texes Intermedite fell 5.3% trading at $20 per barrel, while international benckmark Brent crude fell 6.5% at $23. Oil prices have fallen by over half during the past month as companies cut back or close production.
Automoblie manufacturers asked to make ventilators: Health Ministry
The Health Ministry said. The Defence Research and Development Organisation(DRDO) will begin manufacturing 20,000 N-95 masks per day within the next week, it added. the ministry informed that over 14,000 exising ventilators are earmarked for COVID- 19 patients.
Merger of 10 state-run banks to come into force from April 1, says RBL
Syndicate Bank branches will function as those of Canara Bank. Allahabad Bank will amalgamate with Indian Bank, while Andhra Bank and Corporation Bank will merge with Union Bank of India.
Saudi Arabia assures India of uninterrupted LPG supply: Oil minister
"Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement,"Pradhan tweeted. Pradhan and Prince Abdulaziz also spoke about global oil market developments.
Zoom updates iOS app to stop user data transfer to Facebook
Video-conferencing app Zoom. Motherboard reported. "Zoom takes its users' privacy extremely seriously....However, we were recently made awsre that the Facebook SDK was collocting Unncessary device data," Zoom stated. Earlier, Motherboard has reported that Zoom sent users' data without consent to Facebook.
India's GDP likely to grow at just 2% in 2020-21 ICRA
ICRA said India's GDP is likely to contract by 4.5% in the April-June 2020 quarter It added the GDP will rise by only 2% in 2020-21, impacted by the coronavrius pandemic. According to advanced NSO estimates, the economy was expected to grow at 5% in the current financial yrs.
HEADLINE'S
Jack Ma announces donation of ventilators, gowns, face shields to Europr
Alcohol test for aviation personel including pilots suspended amid coronavirus
Infosys sends N95 masks, sanitisrs worth ₹73 lakh to Karnataka
Ola offers 500 cabs to Karnataka govt for coronavirus- related work Report
WeWork fires 250 more employees to cut costs: Report
TravelTriangle fires over 250 employees amid COVID-19 crisis Report
I forget it was a Sunday: Paytm CEO on working from home amid lockdown
Goa allowa e-commerce firms to deliver essential items during lockdown
Nasscom seeks government support for startups amid lockdown
Cognizant to give extra 25% base pay in April to two-thirds of its India employees
SoftBanked satellite startup OneWeb files for bankruptcy, cuts Jobs
Microsoft to end facial recognition investments after 'AnyVision' controversy
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