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Remdesivir, the only drug cleared to treat COVID-19. Photo used for representation purpose only. File

Government withdraws customs duty on imports of Remdesivir

Special Correspondent A notification to this effect was issued by the Finance Ministry on Tuesday.

U.S. currency watchlist an intrusion: official

Special Correspondent ‘Putting India under scanner invasion into central banks’ policy space’

D.V. Sadananda Gowda. File

Customs duty waive off on Remdesivir will further augment domestic availability: Sadananda Gowda

PTI The Minister had earlier asked the State governments to take strict action against anyone found indulged in black marketing or hoarding of Remdesivir.

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Citibank tells Indian retail customers it's ‘business as usual’

Special Correspondent As part of this strategy the financial services company plans to exit the credit card, retail accounts and mortgage (home loan) business in India

Boxes of Covaxin vaccine, manufactured by Bharat Biotech. File

Bharat Biotech ramps up Covaxin production capacity to 700 mn doses per annum

Union Minister of Finance and Corporate Affairs Nirmala Sitharaman during a special session of Merchants' Chamber of Commerce and Industry, in Kolkata on April 20, 2021.

Need complete trust between industry, govt to sustain growth amid COVID-19 situation: Nirmala Sitharaman

A view of the Bombay Stock Exchange building in Mumbai. File.

Sensex, Nifty settle lower after see-saw trade; banking, IT stocks drag

Toyota Kirloskar Motor senior VP Naveen Soni acknowledged that localised restrictions have hit order flow and delivery schedules. File Photo.

Auto firms fear impact of COVID-19 on sales

Over 50% of adults don’t know how to protect themselves from cybercrime: survey

Special Correspondent The findings come in the backdrop of 59% of adults in India becoming victims of cybercrime in the past 12 months.

ICRA cuts its FY22 GDP estimate by 0.5%, sees economy expanding by 10.5%

PTI The recent surge in COVID-19 cases has resulted in a dip in consumer confidence and reignited uncertainty regarding the near-term outlook, it said.

Representational image.

Gold jumps ₹411; silver gains ₹338

PTI Gold rallied by ₹411 to ₹47,291 per 10 gram; Silver gained ₹338 to ₹68,335 per kilogram

Opinion & Analysis

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A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

Markets

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A view of the Bombay Stock Exchange building in Mumbai. File.

Sensex, Nifty settle lower after see-saw trade; banking, IT stocks drag

PTI BSE Sensex slipped 243.62 points or 0.51% to close the session at 47,705.80; NSE Nifty tanked 63.05 points or 0.44% to 14,296.40

Rupee slips to 74.88 against US dollar on COVID worries

PTI Traders said the local unit ended in the red.

Economy

See All

U.S. currency watchlist an intrusion: official

Special Correspondent ‘Putting India under scanner invasion into central banks’ policy space’

ICRA cuts its FY22 GDP estimate by 0.5%, sees economy expanding by 10.5%

PTI The recent surge in COVID-19 cases has resulted in a dip in consumer confidence and reignited uncertainty regarding the near-term outlook, it said.

Industry

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Farmers in Punjab, Haryana receive MSP directly in their bank accounts

Customs duty waive off on Remdesivir will further augment domestic availability: Sadananda Gowda

U.S. Senate panel mulls revoking Big Tech immunity citing COVID scams online

Business updates | April 21, 2021

Hero MotoCorp to temporarily shut down manufacturing operations due to rising cases

DBS, others mull bids for Citi’s business

Localised lockdowns already hitting economic activities: Report

The report has also called for speeding up the vaccination drive that of late has been on the decline on a weekly basis.

Government withdraws customs duty on imports of Remdesivir

A notification to this effect was issued by the Finance Ministry on Tuesday.

Air Products’ Kochi unit supplies syngas to BPCL

Air Products, into industrial gases mega project development and execution, has announced the reliable supply of syngas from its Kochi Industrial Gas

Maruti Suzuki transported 7.2 lakh vehicles via rail in last 5 years

The country’s largest carmaker Maruti Suzuki on Tuesday said it has transported over 7.2 lakh vehicles using the Indian Railways in the last five

Zaggle’s profit surges as digital payments rise

Fintech firm Zaggle Prepaid Ocean Services Pvt. Ltd. said the rapid adoption of digital payments in enterprises during COVID-19 time helped grow its

Nestlé India March quarter net rises 14.6%

Nestlé India posted a 14.6% increase in net profit to ₹602.25 crore for quarter ended March 31 from a year earlier, as in-home consumption boosted

‘Pre-owned car market to cross 7 mn units by FY25’

Smaller cities driving growth: study

LIC’s premium income rises 10% in FY21

Life Insurance Corporation of India (LIC) said it had achieved first-year premium income of ₹56,406 crore for FY21 under the individual assurance

‘Target over 25% growth in exports’

Addressing a meeting with export promotion councils of various sectors, Commerce and Industry Minister Piyush Goyal urged exporters to target over 25%

Govt. says container shortages resolved

India drafting long-term plan to spur local manufacture of the boxes crucial to global maritime trade

Apple Special Event ‘Spring Loaded’: New iMacs and iPad Pro, Apple TV 4K, AirTag and purple iPhone 12's

Tim Cook and his team enjoyed an outdoorsy spring launch of an updated iPad Pro, iMac, Apple TV – and the much-anticipated launch of the AirTag.

U.S. currency watchlist an intrusion: official

‘Putting India under scanner invasion into central banks’ policy space’

Citibank tells Indian retail customers it's ‘business as usual’

As part of this strategy the financial services company plans to exit the credit card, retail accounts and mortgage (home loan) business in India

PayPal’s Venmo launches crypto buying and selling

With more than 70 million customers, Venmo is one of the most popular payment apps in the United States, especially among younger consumers who use it to pay friends and family. It processed around $159 billion in payments last year.

Chennai-based revenue management platform Chargebee enters Unicorn club with fresh round of funding

Chargebee is now valued at $1.4 billion, which triples its valuation in less than 6 months

Need complete trust between industry, govt to sustain growth amid COVID-19 situation: Nirmala Sitharaman

“During this ongoing second wave, look at the steps which we have taken. Revival will continue to happen,” said Finance Minister Nirmala Sitharaman

Sensex, Nifty settle lower after see-saw trade; banking, IT stocks drag

BSE Sensex slipped 243.62 points or 0.51% to close the session at 47,705.80; NSE Nifty tanked 63.05 points or 0.44% to 14,296.40

ICRA cuts its FY22 GDP estimate by 0.5%, sees economy expanding by 10.5%

The recent surge in COVID-19 cases has resulted in a dip in consumer confidence and reignited uncertainty regarding the near-term outlook, it said.

Gold declines ₹ 305 on muted global

Silver also dipped ₹ 113

Rupee slips to 74.88 against US dollar on COVID worries

Traders said the local unit ended in the red.

Bharat Biotech ramps up Covaxin production capacity to 700 mn doses per annum

The capacity was earlier pegged at 200 million doses a year.

Govt approves subsidy policy for urea produced through coal gasification

The Union Cabinet on Tuesday approved an exclusive subsidy policy for urea produced through coal gasification by Talcher Fertilizers Limited. It

Serum hails financial aid from govt to ramp up Covid-19 vaccine production

Sources said the finance ministry has relaxed rules to allow advance payment without bank guarantee to help the vaccine makers ramp up production.

Twitter to expand engineering team in India

The microblogging platform said it planned to ramp up its team across engineering, product, research and design, while also announcing the appointment of Apurva Dalal as Director of Engineering.

Closure of economic activity will lead to permanent closure of businesses, job losses: RAI

“Shutting down non-essential or non-food retail and malls is not the solution,” says RAI CEO Kumar Rajagopalan.

U.S. banks deploy AI to monitor customers, workers amid tech backlash

Widespread deployment of such visual AI tools in the heavily regulated banking sector would be a significant step toward their becoming mainstream in corporate America.

Rupee rises 23 paise to 74.64 against US dollar

The rupee advanced by 23 paise to 74.64 against the US dollar in opening trade on Tuesday, tracking weaker dollar against key rivals and a positive

HCL Tech wins order from UD Trucks

HCL Technologies on Monday said it had signed a multi-million dollar digital transformation and hybrid cloud contract with Japanese commercial vehicle

RBI sets up committee to review working of ARCs

Panel to submit report in 3 months

Sugar demand falters in peak season due to virus curbs

‘Prices fell 0.8% in 2019-20 because of lockdowns’

Auto firms fear impact of COVID-19 on sales

‘Cases, buyer sentiment hit order flow’

‘Recovery in fuel demand may be hit’

Diesel, petrol, jet fuel and LPG demand all declined in the first half of April from a month earlier and the trend is likely to worsen in the second half with more states imposing restrictions.

Razorpay raises $160 mn, firm now valued at $3 bn

Payment services firm Razorpay raises $160 mnFinancial services firm Razorpay on Monday said it has raised $160 million in a Series E funding round,

EV maker Ather to boost charging infra

Electric vehicle (EV) manufacturer Ather Energy has drawn up plans to rapidly increase fast-charging infrastructure in public places in different

Over 50% of adults don’t know how to protect themselves from cybercrime: survey

The findings come in the backdrop of 59% of adults in India becoming victims of cybercrime in the past 12 months.

Nissan’s Magnite SUV gets 50,000 bookings

Nissan Motor India has received over 50,000 bookings for for its sport utility vehicle (SUV) Magnite since its introduction in December 2020, said the

Strengthening IT infra, says HDFC Bank

HDFC Bank has embarked on a ‘technology transformation agenda’ to provide safe and secure banking services to its customers, in a bid to avoid any

Cloud firm Druva raises $147 mn

Druva Inc., a cloud data protection and management firm, has raised $147 million to scale up operations. The fundraising was led by Caisse de dépôt et

Jubilant Pharma develops oral formulation of Remdesivir

Jubilant Pharma Ltd., a subsidiary of Jubilant Pharmova Ltd., has announced the successful completion of safety and pharmacokinetic/absorption studies

Sensex slides 1.8% as ongoing COVID wave rattles investors

‘Rapid rise in infections, tighter curbs may have significant economic impact’

Microsoft to invest $1 bln in Malaysia to set up data centres: Malaysian PM

As part of the Bersama Malaysia initiative, Microsoft will establish its first "data centre region", which consists of multiple data centres, in Malaysia to manage data from various countries, Prime Minister Muhyiddin Yassin told an event marking the launch of the programme

TN man Sivasubramanian Ramann to head SIDBI

Sivasubramanian Ramann took charge on Monday; the appointment is for a period of three years

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