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The broader NSE Nifty rose 128.70 points or 1% to close above the 13,000-mark for the first time at 13,055.15.

Today's top business news: Singapore's DBS completes takeover of Lakshmi Vilas Bank, gold set for worst month in 4 years on vaccine hopes, Q2 manufacturing rebound puzzles economists, and more

The Hindu Net Desk Updates from the world of economy, markets, and finance

LVB is the second private sector bank after Yes Bank that has run into rough weather this year. File

DBS Bank allows LVB customers to access all services, doesn’t change interest rates

PTI All LVB employees will continue to be in service and are now employees of DBIL on the same terms and conditions of service as under LVB.

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Imaging: J.A. Premkumar

Don’t harm the goose that lays the golden egg

M.S.R.A. Srihari Divestment of insurance behemoth LIC needs a serious rethink considering its strategic role in the Indian economy

Representational photo.

Flipkart readies for wedding furniture sales

Special Correspondent The company saw an increase by 1.5-2 times in search of furniture items across verticals during the past few months compared to the same period last year, it said

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Remaining steadfast: One should invest despite pandemics, natural disasters and financial crises.

Present tense, future uncertain

Watch | What is a moratorium?

Image used for representation purpose.

U.S. second biggest FDI source for India during April-September 2020

Pandemic impact: While services continued to suffer, the industrial sector’s contraction narrowed to 2.1%. ap

Q2 manufacturing rebound puzzles economists

Unilateralism is hurting global economy, says Prabhu

Vikas Dhoot Nations need to work together now.

Interview | Viswanath Ramaswamy ‘India key to IBM’s pursuit of a $1 trillion hybrid cloud opportunity’

Mini Tejaswi Tech firm sees local partnerships growing as country accelerates its digital push.

Royal Enfield CEO Vinod Dasari

‘Make-it-Yours’ keeps Royal Enfield on the go

K. Bharat Kumar ‘80%-90% of demand for our products comes via MiY software platform: Dasari

Opinion & Analysis

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PARLEY | Comment

Parley: Does the Budget do enough in providing a stimulus to growth?

Suresh Seshadri By not cutting spending despite constraints, the Budget ensures momentum doesn’t backslide

A government that is clueless on the economy

Pulapre Balakrishnan Listening to the Budget speech, one would hardly get any indication of either the economic slowdown or the unemployment rate, which is the highest in decades

A Budget exercise that is designed for stressed times

T.T. Ram Mohan The FM deserves credit for keeping the capital expenditure steady amid receipts shortfall; but her plan does not meet market expectations of sweeping reforms

Markets

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Paytm Money to facilitate investments in IPO

PTI The company is aiming to capture “8 to 10% of applications market share in the first year of launch”, a statement said.

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Burger King, which employs an average 20-25 people per store, is likely to generate an employment opportunity for additional 8,640-10,800 persons in its expansion plan.

Burger King IPO to open on December 2; price band fixed at ₹59-60 per share

PTI The company has reserved up to 10% portion of IPO for retail investors, up to 15% for non-institutional investors and up to 75% for qualified institutional investors

Economy

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Watch | What is a moratorium?

The Hindu Net Desk A video explainer on moratoriums which can be imposed on banks' operations by the government

Pandemic impact: While services continued to suffer, the industrial sector’s contraction narrowed to 2.1%. ap

Q2 manufacturing rebound puzzles economists

Vikas Dhoot Conflicting signals from official sectoral IIP data that showed a contraction raise questions about accuracy of GVA estimate.

Industry

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DBS Bank allows LVB customers to access all services, doesn’t change interest rates

AirAsia India plans expansion; to induct 3 more A320 neos by June 2021

Flipkart readies for wedding furniture sales

Paytm Money to facilitate investments in IPO

Today's top business news: Singapore's DBS completes takeover of Lakshmi Vilas Bank, gold set for worst month in 4 years on vaccine hopes, Q2 manufacturing rebound puzzles economists, and more

Don’t harm the goose that lays the golden egg

Present tense, future uncertain

Emotions shouldn’t come in the way of accumulating money, even though there is no predicting the future

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Q. I have been working as a freelancer since November 2019 after I quit my regular job. I have been getting the payment deposited, after TDS, into my

LOOSE CHANGE

“Let me understand this! You want to start a new business but have applied for a housing loan because you figured you’d be working from home anyway,

BLoC Boardroom Challenge semi-finals begin on Dec 1

Semis across 9 cities will be webcast

Coronavirus | Serum Institute of India rejects charges by ‘Covishield’ volunteer, threatens to seek damages

Firm says volunteer is falsely blaming vaccine trial for his medical problems

Watch | What is a moratorium?

A video explainer on moratoriums which can be imposed on banks' operations by the government

U.S. second biggest FDI source for India during April-September 2020

The U.S. was also India’s top trading partner in 2019-20

‘Make-it-Yours’ keeps Royal Enfield on the go

‘80%-90% of demand for our products comes via MiY software platform: Dasari

Coimbatore start-upinstalls ATRS at 2 airports

Firm eyes Asian orders for its system

Q2 manufacturing rebound puzzles economists

Conflicting signals from official sectoral IIP data that showed a contraction raise questions about accuracy of GVA estimate.

Unilateralism is hurting global economy, says Prabhu

Nations need to work together now.

‘India key to IBM’s pursuit of a $1 trillion hybrid cloud opportunity’

Tech firm sees local partnerships growing as country accelerates its digital push.

Dr. Reddy’s acquiring select Glenmark brands in some markets

Dr. Reddy’s Laboratories has entered into a definitive agreement with Glenmark Pharmaceuticals to acquire select anti-allergy brands in some CIS

EPFO extends deadline to submit life certificate by pensioners till February 28

The pensioners who could not submit their life certificates till November 30 deadline, would get pension every month till February.

Almost 65% of domestic air travel back to pre COVID-19 level: Civil Aviation Secretary

Pradeep Singh Kharola said that as more business activities and colleges open up, this may go up to 80-90% in the next 2-3 months or almost to the level of normalcy

Punjab accepts Centre’s borrowing option to meet GST shortfall

The Centre has already borrowed ₹ 24,000 crore on behalf of the states in four instalments and has passed it on to 23 States and three Union Territories on October 23, November 2, November 9 and November 23.

Baba Ramdev on board of Ruchi Soya; brother Ram Bharat to be MD

Last year, Ramdev’s Patanjali Ayurved paid ₹ 4,350 crore to take over Ruchi Soya.

Petrol price crosses ₹82-mark, diesel above ₹72 a litre

This is the eighth increase in rates since Nov. 20 when oil companies resumed daily price revision after nearly two-week hiatus.

Facebook cryptocurrency Libra to launch as early as January but scaled back: FT

The move would represent an even bigger scaling-back of the project's ambitions than that proposed in April in response to a regulatory and political backlash against the project.

NDTV shares: SEBI bars two promoters, other individuals, entities for insider trading activities

Some of them have also been asked to disgorge illegal gains made from trading in the shares when they were in possession of Unpublished Price Sensitive Information

‘E-tailers clock $8.3 bn in Oct.-Nov.’

Flipkart dominated festive season sale at 66%: Redseer

Adani tops DHFL bid with ₹33,000 crore offer

Rivals want firm out for deadline miss

Vodafone Idea partners with firms to add non-core revenues

Telco allies with edtech, wellness start-ups to lift engagement

Hetero to produce Russia’s COVID-19 vaccine in India

More than 100 mn doses of Sputnik V to be made in a year

Fiscal deficit reaches 120% of annual target

Gap widens due to poor revenues

Burger King India IPO to raise upto Rs 810 crore

Burger King India IPO to raise up to ₹810 crore Burger King India Ltd., which runs a quick-service restaurant chain, said it would open its initial

ALL’s U.K. arm Optare is now ‘Switch Mobility’

Ashok Leyland Ltd. (ALL), the flagship company of the Hinduja Group, has renamed U.K. arm Optare Group as Switch Mobility Ltd., as part of its drive

Core sector contraction widens to 2.5%

Oct. output at 8 key industries dragged down as steel production shrinks again; cement posts growth

Adani Transmission acquires 49% stake in KPTL firm

Adani Transmission Ltd (ATL) has acquired 49% stake in Alipurduar Transmission Ltd. from Kalpataru Power Transmission Ltd. (KPTL) with an agreement to

Tata Power raises ₹1,000 cr. via NCDs

Tata Power Ltd. has raised ₹1,000 crore through issuance of non-convertible debentures (NCDs), the company said in a filing with the stock exchanges.

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

All the branches of LVB will function as branches of DBIL with effect from November 27, the RBI had said in a statement

Indian economy contracts by 7.5% in Q2

Country enters technical recession.

₹4300 crore collected as compound interest during moratorium returned, SC notes

The payments were made in compliance of a government payback scheme introduced on October 23

Burger King IPO to open on December 2; price band fixed at ₹59-60 per share

The company has reserved up to 10% portion of IPO for retail investors, up to 15% for non-institutional investors and up to 75% for qualified institutional investors

Passengers can carry double check-in baggage in economy class of India-U.K. flights: British Airways

Passengers will now be able to take two pieces of check-in baggage, with each weighing a maximum of 23kg, British Airways said in a release.

Rupee snaps 5-day winning run, falls 17 paise to 74.05 vs USD

On Thursday, the rupee had appreciated by 3 paise.

Walt Disney increases planned layoffs to 32,000 as coronavirus hits park attendance

The layoffs will be in the first half of fiscal 2021, the company said in a filing with the Securities and Exchange Commission.

India to allow Uber and rivals to charge 20% commission

The final guidelines say drivers should receive 80% of the ride fare with the taxi companies receiving the remaining 20%.

Sensex drops 110 points; RIL, IT stocks weigh

NSE Nifty slipped 18.05 points.

LPG subsidy for BPCL consumers to continue post-privatisation: Pradhan

The subsidy is paid in advance and consumers use this to buy LPG refills.

Today's top business news: Shares flat ahead of GDP data, SBI says GDP likely contracted 10.7% in Q2, foreign ownership of US bonds at one of the lowest levels, and more

Updates from the world of economy, markets, and finance

E-tailers clocked $8.3 billion in sales during Oct-Nov festive period: Redseer

‘Flipkart Group dominated the sale events at 66%’

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36K | Coronavirus | ‘Covishield’ vaccine volunteer sues Serum Institute of India, Oxford Group over ‘adverse reaction’

Kiran Maheshwari

20K | BJP MLA Kiran Maheshwari dies after testing positive for COVID-19

Ensuring compliance: After paying the fine, the offenders often walk away without wearing a mask.

14K | Coronavirus India live updates: Centre to call all-party meet

Uttar Pradesh Governor Anandiben Patel and Chief Minister Yogi Adityanath at the Raj Bhawan in Lucknow. File photo

12K | First case under new ordinance against unlawful conversion lodged in U.P.

Illustration: R. Rajesh

11K | The independence of the judiciary has collapsed: Prashant Bhushan

In this file courtroom artist's drawing, Chicago businessman Tahawwur Rana (centre) appears before Judge Matthew Kennelly in Chicago's federal court.

11K | 26/11 Mumbai terror attacks | Key accused Tahawwur Rana wanted a ‘medal’ for ‘top class’ contribution

Leaders of farmer unions address the media at Singhu border in New Delhi on November 29, 2020.

7K | Dilli Chalo protest | Burari is an open jail, say farmers rejecting Centre’s conditional invitation for talks

Rajinikanth. File

6K | 2021 Tamil Nadu Assembly elections | Rajinikanth likely to make announcement on November 30

President-elect Joe Biden will have an all-female senior communications team at his White House, led by campaign communications director Kate Bedingfield. Neera Tanden (photographed here) will be director of the Office of Management and Budget.

6K | Joe Biden to nominate Indian-American Neera Tanden as chief of budget team