Day: March 9, 2020

Why has Saudi Arabia launched an oil price war?

An international row between two of the world’s greatest oil producers – Saudi Arabia and Russia – has brought on a value war and sent the value of crude spinning to its speediest slide since 1991, just at the time when the coronavirus crisis threatens to torpedo the worldwide overall economy. 

Brent crude, the British isles benchmark, now stands at just $35 a barrel and is down practically 50pc this 12 months. Equity marketplaces has tumbled, with FTSE one hundred obtaining one of its worst days since the monetary crisis. But what triggered the row and what will its effect

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Vodafone Idea gains 30% in weak market after promising ‘new beginning’

Shares of Vodafone Idea were up 30 per cent at Rs 4.30 on the BSE on Monday, in intra-day trade on back of heavy volumes.

Shares gained after the Department of Telecommunications (DoT) indicated that the company was “positive” about India and that it wanted to make a ‘’new and good beginning’’ in the country, according to a Business Standard report.

The company on Friday announced that it had completed assessing its dues linked to adjusted gross revenue (AGR). At Rs 21,533 crore, Vodafone Idea’s calculation of the AGR liability turned out to be less than half
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Govt gives Infosys 15 days to submit plan to quickly fix glitches in GSTN

The finance ministry has asked Infosys to provide within 15 days a plan for quick resolution of glitches on the GSTN portal, as it took strong note of the “unresolved” problems and “tardy” progress made over the last two years on multiple issues faced by taxpayers in filing returns.

On Saturday, Revenue Secretary held a meeting with top Infosys officials on the persistent glitches seen on GST network, and decided to ask Infosys Chairman Nandan Nilekani to make an urgent presentation before the GST Council on March 14.

Meanwhile, in a strongly worded letter

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RBL, Bandhan Bank fall below IPO price; stocks hit new lows

Shares of RBL and Bandhan Bank hit new all-time lows, falling below their respective initial public offer (IPO) prices, on the BSE on Monday after a sharp sell-off in the equity markets.

Individually, RBL Bank slipped 18 per cent to Rs 212 in the intra-day trade, to hit its lowest level since its listing on August 31, 2016. The stock of the private sector lender fell below its issue price of Rs 225 per share.

Analyst at JP Morgan, rate RBL Bank ’underweight’ as the brokerage firm believes that the bank’s valuations would stay

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Mumbai’s Bhendi Bazaar takes a leap into future with redevelopment work

After many failed attempts over the past decade, Bhendi Bazaar, one of the most underdeveloped and busiest business-cum-residential districts of the city, is taking a big leap into the future in what’s said to be the nation’s largest cluster redevelopment project.

The 125-year-old neighbourhood spanning 16.5-acres, not very far from the iconic CST, is already home to two newly-developed towers of 36 and 41-floors which are opening a new world of modern living for the families there. Around 610 of the over 3,200 families and 128 of the over 1,250 businesses have moved in to the

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