China’s factories, retailers stumble on COVID-19 disruptions

China’s factory and retai lsectors faltered in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s impressive economic recovery. Industrial production rose 5.3% in August from a year earlier, narrowing from an increase of 6.4% in July and marking the weakest pace since July 2020, […]

New deadline for COVID policies is March 31: IRDAI

Hard copy exemptions also get time Insurance regulator IRDAI has extended the timelines for insurers to sell and renew short-term COVID-specific health insurance policies by another six months till March 31. The partial modification of an earlier circular, in which it had set September 30 as last date for sale and renewal of Corona Kavach […]

Caesars Entertainment To Sell William Hill’s Non-US Assets To 888 Holdings In £2.2 Bln Deal

Casino-entertainment company Caesars Entertainment, Inc. (CZR) announced Thursday an agreement to sell the non-US assets of William Hill to online betting and gaming company 888 Holdings Plc (888.L) for approximately 2.2 billion pounds. Caesars expects to receive net proceeds from the deal of approximately 835 million pounds or $1.2 billion after the repayment of debt […]

Amid protests, Centre hikes minimum support price for rabi crops

Support price of wheat raised by 2%; not adequate, say unions The Centre has increased the minimum support price (MSP) for wheat for the upcoming rabi season to ₹2,015 per quintal, a 2% hike from the ₹1,975 per quintal rate of last year. Oilseeds and pulses such as mustard, safflower and masoor dal saw higher […]

CUB sees slippages flat or tad lower

City Union Bank Ltd. said it expected total incremental slippages for FY22 to remain flat or slip slightly below those of last fiscal, with a few quarterly spikes. “We are on track,” said N. Kamakodi, MD & CEO, said in a call with analysts. “In Q1, the bank had a slippage of ₹482 crore and […]

Philip Morris Acquires 22.6% Stake In Vectura

Phillip Morris International (PM) said on Wednesday that it has bought 22.61% of Vectura in a market purchase at $2.27 per share as promised in previous communications. The acquisition of Vectura, a company that, makes drugs for Asthma by a company that makes cigarettes was a bone of much contention for the last couple of […]

Montana governor blasts Biden's energy policies: 'Horrendous' move to ask OPEC for more oil

Montana governor slams Biden’s call for OPEC to increase oil output Montana Gov. Greg Gianforte argues that the U.S. could have produced more oil rather than relying on foreign countries.  Montana Gov. Greg Gianforte slammed President Biden on Monday for his energy policies and for the "horrendous" move to ask the Organization of the Petroleum Exporting […]

Ask us: On investments

Basic exemption limit for super senior citizens is ₹5,00,000. In other words, ₹5,00,000 of your taxable income is taxed at 0%. Q. I am a senior citizen having pension and interest income. Recently, I redeemed some mutual funds possessed by me from 2017 onwards. Since I possessed them for more than 3 years, I presume […]

Explained | Impact of removing anti-dumping duty on viscose staple fibre

Fibre will be available in India at competitive prices The Union government recently revoked anti-dumping duty (ADD) on viscose staple fibre originating in or imported from China and Indonesia. Viscose is largely used by the textile and clothing industry to make apparel, mainly for women and children, in the domestic market. How is viscose used […]

Carlyle Declines To Raise Bid, Vectura Auction Called Off

The auction of Vectura, a drug company, is in major dilemma after private equity firm The Carlyle Group (CG) decided not to raise its bid on the eve of the event. The company is valued at more than $1 billion by the Takeover Panel. The 5-day auction was supposed to happen between August 11 to […]