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• PwCA to call it quits as GVKPIL auditors
  on August 14, 2020 at 11:01 pm

  Price Waterhouse Chartered Accountants LLP (PwCA), the statutory auditors of beleaguered Hyderabad-based infrastructure player GVK Power & Infrastructure Ltd (GVKPIL), have communicated their intention to resign as auditors citing the failure of the company and its management to submit the requisite information to them for preparing the audit for financial year 2019-20.

• FM asks CPSEs to meet 50% capex target by Sept
  on August 14, 2020 at 9:41 pm

  Finance minister Nirmala Sitharaman on Friday exhorted large central public sector enterprises (CPSEs) to achieve by next month 50% of their planned capital expenditure target for FY21 to support economic growth. She held a virtual meeting with secretaries of the ministries of shipping, road transport and highways, housing and urban affairs, defence and telecom.

• Amazon launches online pharmacy in India
  on August 14, 2020 at 8:47 pm

  US tech giant Amazon launched its first Indian online pharmacy service on Friday as it attempts to grab more of the country's burgeoning e-commerce market. Amazon is battling Walmart-backed Flipkart and JioMart, owned by Asia's richest man Mukesh Ambani, as well as local companies in the vast market of 1.3 billion people.

• Forex reserves climb to record $538.191 billion
  on August 14, 2020 at 7:31 pm

  The country's foreign exchange reserves swelled by $3.623 billion to a record high of $538.191 billion in the week ended August 7, RBI data showed on Friday. In the previous week ended July 31, the reserves had increased by $11.938 billion to reach $534.568 billion.

• Income tax refund status: Here's how you can check
  on August 14, 2020 at 7:07 pm

  Taxpayers become eligible for refunds if higher taxes -- either through advance tax, self-assessment tax or tax deducted at source (TDS) -- are paid in comparison with the total tax liability. The refund can be claimed by filing the income tax returns (ITR) form within the specified timeline.

• Oil prices down on demand worries, growing supply
  on August 15, 2020 at 7:24 am

  Oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.

• S&P 500 trading near flat, lingering below record highs
  on August 15, 2020 at 7:22 am

  The S&P 500 was near flat, hovering below record highs, on Friday as data showed the U.S. economy was still hurting from the COVID19 pandemic, adding to uncertainty over the recovery.

• S&P 500 dips but index not far from record levels
  on August 14, 2020 at 7:20 am

  The S&P 500 eased in afternoon trading on Thursday after briefly trading above its record closing high level for a second day, with the Dow also falling in the wake of a disappointing forecast from Cisco Systems Inc .

• Forecast says US hotel occupancy may not recover until 2023
  on August 14, 2020 at 7:11 am

  U.S. hotel demand likely wont see a full recovery until 2023, according to a new forecast from travel data company STR and consultant Tourism Economics.

• Container line Hapag-Lloyd almost doubles first-half profit, keeps 2020 outlook
  on August 14, 2020 at 7:11 am

  German container shipping line HapagLloyd nearly doubled net profit in the first half of 2020 and kept its fullyear outlook intact but warned that the coronavirus crisis bears indiscernible risks for its operations.

• Former CEO of Hertz to repay $2 million over misstatements in 2013
  on August 14, 2020 at 12:47 pm

  This money will be compensation for his alleged role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013.

• RBI Board approves transfer of Rs 57,128 crore as surplus to govt
  on August 14, 2020 at 12:22 pm

  The decision was taken at the 584th meeting of the Central Board of the Reserve Bank of India chaired by Governor Shaktikanta Das.

• Sensex tanks 433 points; Nifty gives up 11,200 level
  on August 14, 2020 at 11:28 am

  Axis Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.

• Hong Kong cuts economic growth forecast to record low amid Covid pandemic
  on August 14, 2020 at 9:38 am

  “If the current wave of local infection can be contained within a short time and barring any further sharp deterioration in the external environment, economic performance for 2020 as a whole can hopefully fall within the upper half of the range forecast,” the government statement said.

• Rupee settles 6 paise lower at 74.90 against US dollar
  on August 14, 2020 at 9:15 am

  At the interbank forex market, the local unit opened at 74.85 against the US dollar, then lost ground and finally settled at 74.90 against the American currency, registering a decline of 6 paise over its previous close of 74.84.

• Roca India to get back to pre-COVID-19 sales from Sept
  by Special Correspondent on August 14, 2020 at 3:48 pm

  Roca India expects to clock 100% of pre-COVID-19 sales from next month and get on to growth path during the October-December 2020 quarter, said a top

• Sterlite Power sells 14.7% stake in IndiGrid for Rs 840 crore
  by Special Correspondent on August 14, 2020 at 3:46 pm

  Sterlite Power Ltd., a power transmission company, has sold 14.7% stake in India Grid Trust (IndiGrid) to institutional and HNI investors for ₹840 cro

• Govt is like a deer caught before headlights: Chidambaram
  by Special Correspondent on August 14, 2020 at 2:19 pm

  Who’s in charge of economy, PM or FM, asks Anand Sharma.

• RBI Board approves transfer of ₹57,128 crore as surplus to govt.
  by PTI on August 14, 2020 at 12:50 pm

  The Board reviewed the current economic situation, continued global and domestic challenges and measures taken by the RBI to mitigate the economic impact of COVID-19 pandemic.

• Flipkart says 54% growth in sellers on its Marketplace during Independence Day sale
  by Special Correspondent on August 14, 2020 at 12:19 pm

  During lockdown, the company has onboarded almost 8,000 sellers to its online marketplace, with more than 70% of them coming from smaller towns

• In the cult of violence, Pak has kept a place for India
  on August 14, 2020 at 8:15 pm

  Both India and Pakistan need to exercise restraint, but we also need to lay down a threshold which says -- this far and no more, says Colonel (retired) Jaibans Singh

• How PM, Sonia beat Dilli ki sardi!
  on August 14, 2020 at 8:15 pm

  Arun Jaitley's laud-worthy effort... Revealed! The new 'best friends' in politics... Akhilesh Yadav's big dilemma... All this and more in this week's Dilli Gupshup.

• These 11 popular SMALL cars just got BETTER!
  on August 14, 2020 at 8:15 pm

  Here is an extensive list of enhanced hatchbacks that are impressive from buyers' viewpoint.

• Excerpt: 'The sergeant ordered that his skin be flayed'
  on August 14, 2020 at 8:15 pm

  Gray Wolves and White Doves by John D. Balian is the "story of a young boy's quest for identity and belonging." We bring you an excerpt.

• EPL: Walters' own goals allow Chelsea stroll at Stoke
  on August 14, 2020 at 8:15 pm

  Two own goals from Stoke City forward Jonathan Walters set Chelsea on their way to a 4-0 Premier League victory on Saturday that gave under-fire interim manager Rafael Benitez some respite.

• India swings back to $2 trillion market cap club, as equities recover losses
  by Nasrin Sultana, Ashwin Ramarathinam on August 14, 2020 at 2:08 pm

  This week, FIIs have turned net buyers of Indian shares with an inflow of $2.33 billion in this year so far and a robust purchase of 3.61 billion in August alone

• Retail stock market investors seem to be smarter this time around
  on August 14, 2020 at 1:02 pm

  Only time will tell who wins the battle between FPIs and retail investors.

• Travel stocks drag Europe lower after fresh UK quarantine rule
  on August 14, 2020 at 10:59 am

  Travel and leisure stocks dropped 2.1%, with UK-based airlines and tour operators such as TUI , Easyjet, British Airways-owner IAG falling between 3.5% and 5.5%

• Why even MSCI is struggling to figure Airtel’s foreign shareholding limits
  by Mobis Philipose on August 14, 2020 at 9:46 am

  MSCI earlier considered a higher foreign ownership limit in the case of Airtel. According to sources, the earlier assumption of foreign ownership stood at 74%, based on the RBI notification, even though this was at odds with the government’s 49% cap.

• Why investors are unimpressed with Eicher Motors’ talk of demand recovery
  by R. Sree Ram on August 14, 2020 at 8:49 am

  The company has an order backlog of around 40,000 units. Weighing on the sentiments are continuing restrictions in urban areas, a large addressable market, and local lockdowns which are hampering sales, production ramp-up

• DGCA seeks fresh public objections after clearing AirAsia for take-off
  on January 15, 2014 at 9:08 am

  The latest public notice was issued by the Directorate General of Civil Aviation on Monday.

• Yes Bank ties up with Teri to Promote Sustainable Development in India
  on January 10, 2014 at 9:29 am

  MoU will enable Yes bank to work with the BFSI sector on responsible finance, financial inclusion.

• Govt must slash spending by Rs 1 trillion to meet fiscal target: Barclays
  on January 9, 2014 at 12:24 pm

  During the April-November period, fiscal deficit touched as much as 94 per cent of the budgeted target.

• Amit Mitra takes charge of Dept of Commerce and Industries, offers 'relationship managers' services to entrepreneurs
  on January 9, 2014 at 11:34 am

  Commerce and Industries Minister Amit Mitra held out a clear cut plan for industrialists at a seminar.

• Inflation in India to moderate in coming months: Arvind Mayaram
  on January 9, 2014 at 8:27 am

  Arvind Mayaram said spurt in demand for food products adding to inflationary pressure.