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Covid-19 could mean $3bn revenue loss for APAC airports: ACI

IANS New Delhi At a time when world growth is projected to slow down further as the coronavirus (Covid-19) epidemic spreads across continents, a new report has suggested that the prolonged duration of the outbreak will significantly set back the airports in the Asia Pacific region from the previously forecast growth prospects and result in $3 billion revenue loss. According …

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Reliance Retail sets up mitigation plan for coronavirus

IANS New Delhi Reliance Retail has put in place a prevention and mitigation plan for its employees in the coronavirus situation, including avoiding international travel, curbing domestic travel and avoiding mass gatherings. “Please take note of the measures taken in the Retail business so far on the captioned subject. Your leadership on making all our employees aware on this crucial …

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Indian banks have adequate capital, no reason for worry: CEA

IANS New Delhi As the Yes Bank crisis weighs on investor sentiments, becoming a major reason of concern for the bank’s depositors, Chief Economic Adviser (CEA) Krishnamurthy Subramanian on Sunday said there is no reason to worry as India’s banks have adequate capital. He also noted that ratio of deposit to M-CAP (market capitalisaion) is not the correct instrument for …

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PhonePe services hit as partner Yes Bank put under moratorium

IANS New Delhi Payment services provider PhonePe has suffered an outage after the Reserve Bank of India (RBI) on Thursday put the bank under moratorium. In a tweet, PhonePe said that its services are temporarily unavailable as it is going through an unscheduled maintenance activity. “We are temporarily unavailable. We are going through an unscheduled maintenance activity. We apologise for …

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Vodafone CEO firefights, only Rs 3,500 cr paid on AGR dues

IANS New Delhi Even as Vodafone group CEO Nick Read descended on India to meet top government functionaries on the same day, the joint venture company, Vodafone Idea, pegged its AGR liabilities at Rs 21,533 crore. Read on Friday met Finance Minister Nirmala Sitharaman at a time when Vodafone Idea is under severe financial stress and also faces the uphill …

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Lodha Group’s UK arm raises US$ 200 mn to repay debt

PTI New Delhi Realty firm Lodha Group on Friday said its UK subsidiary has raised US$ 200 million (around Rs 1,473 crore)  through issuance of bonds in the Singapore market and the amount will be used to repay debt.  Lodha Developers International Ltd, a wholly-owned subsidiary of Mumbai-based Macrotech Developers (earlier known as Lodha Developers), closed its dollar bond-issue and …

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Global GDP may lose $77-347 bn due to coronavirus

PTI New Delhi The coronavirus outbreak has the potential to significantly harm the Asian economies, and the global economy may suffer losses of US$ 77-347 billion, Asian Development Bank (ADB) said on Friday.  The virus outbreak may impact developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply …

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Indian tech firms scramble to shield workers against new virus

New Delhi: With the coronavirus cases growing by every passing hour, Indian tech companies have scrambled to find solutions to safeguard their employees from the deadly virus and flexible working hours/work from home is on top of their minds. As on March 4, at least 28,529 persons were brought under community surveillance and are being monitored in India, with 29 …

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Hindware Appliances enters ceiling fans business in India

New Delhi: Somany Home Innovation Limited, makers of Hindware Appliances, on Thursday forayed into the consumer appliances segment with ceiling fans under its popular brand ‘Hindware Snowcrest.’ The fans are available in a lineup of six models under three categories — premium, decorative and classic — at an introductory price range from Rs 1,499 to Rs 2,999 and are available …

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Aakash’s national-level scholarship exam on March 15

Panaji/ Margao: Aakash Educational Services Limited (AESL), the national leader in test preparatory services for aspiring doctors and IITians with more than 200 centres across the country, has announced a new scholarship exam, named ‘Aakash SPARRK’, aimed at giving deserving students from class VII to IX an opportunity to take the first step in their endeavour to realise their dreams. …

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