Business

Alibaba’s Jack Ma quits board of Japan’s struggling SoftBank

Chinese billionaire Jack Ma is stepping down from the board of SoftBank Group Corp., as the Japanese technology company struggles over its risky investments such as office-sharing venture WeWork. Tokyo-based SoftBank announced Ma’s resignation Monday, ahead of releasing financial results., Chinese billionaire Jack Ma is stepping down from the board of SoftBank Group Corp., as the Japanese technology company struggles over its risky investments such as office-sharing venture WeWork. Tokyo-based SoftBank announced Ma’s resignation Monday, ahead of releasing financial results.

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Business

Rupee rises 6 paise to 75.60 against US dollar in early trade

The rupee appreciated 6 paise to 75.60 against the US dollar in early trade on Wednesday tracking positive opening of domestic equities. Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus pandemic weigh, The rupee appreciated 6 paise to 75.60 against the US dollar in early trade on Wednesday tracking positive opening of domestic equities. Forex traders said a positive start of domestic stocks supported the local unit, while sustained foreign fund outflows and concerns over coronavirus pandemic weigh

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Business

Sensex jumps over 150 pts in opening trade; Nifty tops 9,100

Equity benchmark Sensex rose over 150 points in opening session on Thursday as investors accumulated index heavyweights HDFC twins, Kotak Bank and Reliance Industries amid mixed cues from global markets. Similarly, NSE Nifty rose 38.45 points, or 0.42 per cent, to 9,105., Equity benchmark Sensex rose over 150 points in opening session on Thursday as investors accumulated index heavyweights HDFC twins, Kotak Bank and Reliance Industries amid mixed cues from global markets. Similarly, NSE Nifty rose 38.45 points, or 0.42 per cent, to 9,105.

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Business

GDP growth in 2020-21 likely to in negative: RBI Guv

The Reserve Bank on India (RBI) on Friday said India’s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities. In a televised address, RBI Governor Shaktikanta Das said the global economy is heading into recession, The Reserve Bank on India (RBI) on Friday said India’s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities. In a televised address, RBI Governor Shaktikanta Das said the global economy is heading into recession

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Business

As edible oils pact with Malaysia, Indonesia ends, India should now hike import duties: SEA

As India’s 2010 pact with Malaysia and Indonesia came to an end, the government should hike customs duty on soya, sunflower and crude palm oils and encourage domestic production. The Solvent Extractors Association of India (SEA) also urged the government to ban the import of refined palm oils., As India’s 2010 pact with Malaysia and Indonesia came to an end, the government should hike customs duty on soya, sunflower and crude palm oils and encourage domestic production. The Solvent Extractors Association of India (SEA) also urged the government to ban the import of refined palm oils.

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Business

Sensex surrenders opening gains, drops over 60 points; Nifty near 9,000 level

Equity benchmark Sensex turned volatile after jumping over 200 points in early trade on Wednesday tracking mixed cues from global markets and uncertainty over the impact of easing lockdown restrictions., Equity benchmark Sensex turned volatile after jumping over 200 points in early trade on Wednesday tracking mixed cues from global markets and uncertainty over the impact of easing lockdown restrictions.

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Business

Reliance diverts Alok Industries into making PPE; cuts down cost to one-third

The company has redeployed Alok Industries’ manufacturing facilities in Silvassa, Gujarat for exclusively manufacturing personal protective equipment (PPE) to safeguard doctors, nurses, medical staff and other frontline workers engaged in fighting the COVID-19 pandemic, sources said., The company has redeployed Alok Industries’ manufacturing facilities in Silvassa, Gujarat for exclusively manufacturing personal protective equipment (PPE) to safeguard doctors, nurses, medical staff and other frontline workers engaged in fighting the COVID-19 pandemic, sources said.

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Business

Rupee jumps 32 paise to 75.30 against US dollar in early trade

The rupee appreciated 32 paise to 75.30 against the US dollar in opening trade on Monday supported by the government’s reopening plan for the domestic economy. Forex traders said foreign fund inflows, weak American currency and positive opening of domestic equities also boosted investor confidence., The rupee appreciated 32 paise to 75.30 against the US dollar in opening trade on Monday supported by the government’s reopening plan for the domestic economy. Forex traders said foreign fund inflows, weak American currency and positive opening of domestic equities also boosted investor confidence.

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Business

Patanjali in the race of bidding for IPL13 title sponsorship

Yoga Guru Baba Ramdev’s venture Patanjali Ayurveda is considering to bid for the title sponsorship of the upcoming Indian Premier League (IPL), according to a company official., Yoga Guru Baba Ramdev’s venture Patanjali Ayurveda is considering to bid for the title sponsorship of the upcoming Indian Premier League (IPL), according to a company official.

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