Business

Saudi Aramco typically issues its OSPs by the 5th of each month, setting the trend for Iranian, Kuwaiti and Iraqi prices and affecting more than 12 million barrels of oil.

No-frills carriers IndiGo, SpiceJet and GoAir said they are taking bookings for domestic flights starting April 15. In the case of SpiceJet and GoAir, they have started selling tickets for international flights from May 1.

Oil markets have been in turmoil for weeks after top producer Riyadh cut prices amid a row with Moscow, and then demand all but evaporated due to lockdowns and travel restrictions to fight the spread of the coronavirus.

In a report, energy analysts have said that a situation like global oil storage reaching its maximum capacity in a few weeks can arise. Reasoning it they said the COVID-19 crisis has hugely reduced the consumption.

Against the backdrop of current disruption in the market and 21 days lockdown till April 14, 2020, SBI has come forward to extend the timeline for payment of settlement amount by three months, it said in a statement.

In a statement, the RBI said presently value of goods or software exports made by the exporters is required to be realised fully and repatriated to the country within a period of 9 months from the date of exports.

The company said it is working to make critical medical and safety equipment available in countries like India and Liberia, where coronavirus cases are escalating.

The Reserve Bank of India cut benchmark repurchase (repo) rate by 75 basis points and its reverse repurchase rate by 90 basis points at an emergency meeting on March 27, bringing the rates to 4.40 per cent and 4.00 per cent, respectively, from 5.15 per ce...

At 10:26 am, the benchmark S&P BSE Sensex was trading up 676.78 points, or 2.38%, to 29,117.10, while the Nifty 50 rose 203.15 points, or 2.45%, to 8,484.25.

Tata Steel, HDFC, Axis Bank, M&M, Reliance Industries, ONGC, ITC, HCL Tech and Titan rallied up to 3 per cent. On the other hand, IndusInd Bank plunged up to 15 per cent. Bajaj Finance, Bajaj Auto and Maruti were also among the laggards.

The company said Sunil Duggal, whole-time director and CEO of Hindustan Zinc Ltd, a subsidiary of Vedanta, will take additional charge as an interim CEO of Vedanta Ltd from April 6.

When RBI cuts the repo rate, banks get money at a cheaper interest rate, the benefit of which is usually passed on to borrowers – individuals, industries or institutions.

Prime Minister Narendra Modi: Today RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus.

The collected funds will be used to buy medical supplies for the Coronavirus-hit nations, including Italy, Germany, Spain, South Korea, Iran, Turkey, US, and the UK.

While contract employees in many sectors, especially those in the manufacturing space, are already losing their daily wages due to a lockdown of plants and various other commercial establishments, several companies are said to be planning pay cuts or at l...

After undertaking a review, it has been decided to extend the priority sector classification for bank loans to NBFCs for on-lending for 2020-21, RBI said in a statement.