Industrial production declines 16.7% in March amid Covid-19 pandemic

The country’s industrial output declined by for every cent in March, primarily on account of bad demonstrate by mining, production and energy sector owing to the nationwide lockdown, governing administration details confirmed on Tuesday.

The governing administration had imposed lockdown to comprise Covid-19 from March twenty five, 2020. The Index of Industrial Output (IIP) had developed by for every cent in March, 2019.

In accordance to National Statistical Business office (NSO) details, production sector output fell by 20.6 for every cent in contrast to a progress of for every cent in the same month a 12 months

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U.S. Consumer Prices Tumble 0.4% in March

U.S. consumer prices fell by the most in more than five years in March as the coronavirus pandemic pummeled demand, fueling concerns that the economy is heading toward deflation.

The Labor Department reported Friday that the consumer price index dropped 0.4% last month amid a sharp decline in the cost of gasoline and record decreases in hotel accommodation, apparel and airline ticket prices.

The decline in the CPI was the largest since January 2015 and was slightly below economists’ estimates of a 0.3% slide. Prices had gone up 0.1% in February before the coronavirus crisis escalated.

In the 12 months

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SpiceJet announces 10-30% cut in March salary for all employees

Budget provider SpiceJet has determined to slash 10-thirty per cent income of all its workers in March, with Chairman Ajay Singh opting for greatest thirty per cent trimming in payment, the airline explained in an e-mail conversation to the personnel on Tuesday.

“SpiceJet administration has determined to carry out a fork out slash in between 10-thirty per cent in March across our personnel base. Our Chairman and Handling Director (Ajay singh), in fact, has opted for the greatest slash of thirty per cent in payment,” the airline explained in the conversation.

Other funds carriers IndiGo and GoAir have presently announced

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Kochi tea trade association to reopen warehouses from March 30

Tea Trade Affiliation of Cochin (TTAC) is planning to reopen warehouses from Monday (March thirty)

The association has, in a interaction to its users, cited a round dated March 26, issued by the Ministry of Residence Affairs, which presumably reads “all warehouses are to continue being open to guarantee availability of vital items.”

More stating that the Ministry of Food Processing Industries had also vide a round said that “tea has been involved in the record of vital goods”, the association has substantiated its stand for reopening the warehouses.

It has, having said that, clarified that the warehouses would be

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CFOs On the Move: Week Ending March 20

Adrianne Lee

Adrianne Lee will become finance chief at Overstock on March 31. Lee joins Overstock from Hertz exactly where she was CFO of the company’s $7 billion North American Rental Vehicle unit. Before becoming a member of Hertz, Lee led economical setting up and evaluation for Ideal Buy’s multi-billion-greenback e-commerce company. She beforehand held quite a few roles in finance, strategic setting up, accounting and economical reporting, trader relations, and audit at PepsiCo, Allianz Lifetime, and PricewaterhouseCoopers.

Rick Lees has joined specialty meals maker Stonewall Kitchen as CFO. Most just lately, Lees was chief economical officer at Ocean Spray

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