7th October 2K20
Ø WTO revises 2020 trade forecast up; world goods trade fall seen at 9.2% from 12.9% earlier
Ø Maruti Suzuki's Brezza logs 5.5 lakh units sales within 4.5 years of launch
Ø Fund raising by corporates up 64 per cent to Rs 1.1 lakh crore in August
Ø Govt to give incentives to boost domestic solar industry: Minister
Ø Yes Bank: Enforcement Directorate arrests two executives of Cox and Kings Group
Ø Steelmakers are witnessing early signs of recovery from Q2 FY21: Icra
Ø Global economy facing long climb to recover: IMF head Kristalina Georgieva
Ø Cash-to-GDP ratio could hit 14-15%, the highest since independence
Ø Swift economic recovery key to limit loan losses for Indian banks: Fitch
Ø Services activity improves in September, PMI at 49.8 vs 41.8 in August
Ø YES Bank plans to bring down credit-to-deposit ratio to below 100% by March
Ø Abu Dhabi fund to invest Rs 5,512.50 crore in Reliance retail unit
Ø Indian textile companies to benefit from US-China trade war
Ø Centre approves 16 mobile phone companies under PLI Scheme
Ø Private equity investments hit record high of $28.66 billion in 2020
Ø Tata Motors global wholesales decline 16 per cent in July-Sept
Ø Torrent Gas to invest ₹8,000 cr in city gas business
Ø CIL makes ₹5,023 crore in capex in first half
Ø IKEA to bring small store formats to Mumbai in FY 2021
Ø TV makers get clearance to import big-sized premium sets
Ø Sebi makes AT-1 bonds less accessible to retail investors
Ø Spain sees worse-than-feared economic dip in 2020, rebound next year
Ø US trade deficit jumps to largest in 14 years in August
Ø Carlyle buys 20% stake in Piramal Pharma for ₹3,523 crore
Ø Bajaj Finance deposit book rises 22.5 per cent to Rs 21,600 crore in September
Ø CIL capex utilisation at Rs 5,023 crore in first half of FY21
Ø Govt appoints Dinesh Kumar Khara as SBI chairman
Ø Mukesh Ambani seeks data regulation framework
Ø India's domestic air passenger traffic improves in September
Ø India, US, Australia, Japan to discuss China's growing power in Quad talks
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⚫The Centre approved 16 proposals from marquee brands, including makers of Apple devices, under two new flagship schemes, in a move expected to fetch Rs11,000 crore additional investments in local electronics mfg. In turn, this would imply production worth Rs 10.5 trillion over the next five years.
⚫Various e-commerce platforms have said that they have already reached the pre Covid levels in terms of the number of orders and expect the numbers to substantially rise in the next couple of months.
Local Circles said many businesses have been struggling due to the reduced sales and flattened revenues, but the festive season is likely to throw them a lifeline.
⚫The SEBI took steps to restrict retail investor participation in additional tier 1 (AT1) bonds — instruments which were in the news amid troubles at private sector lender YES Bank. The markets regulator said issuing AT1 bonds must be done compulsorily on the electronic book provider platform.Issuers and stock exchanges have to ensure that only qualified institutional buyers are issued these bonds. Further, the minimum allotment and trading lot size shall be Rs 1 crore.
⚫The UP Govt has decided to roll back its decision to privatise one of its five power distribution co's, following the protest by the employees of the power dept and discoms.
⚫On the coronavirus front, an increase of 61,267 was reported in the country’s total count of confirmed coronavirus cases.
⚫The ED arrested Cox & Kings former CEO and internal auditor in connection with the YES Bank money laundering case.
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