Rate cut alone can't arrest slump: SBI report
Lose-monetary policy alone cannot arrest the deepening slump, instead government must take demand-boosting measures, especially in rural areas, by frontloading expenditure primarily through the national rural employment scheme, says a report.
Hit on Saudi Aramco: Oil prices soar 10%
An attack on Saudi Arabia's largest oil processing plant pushed crude prices sharply higher Monday. US crude oil jumped $5.61 per barrel, or 10.2%, to $60.46 per barrel in electronic trading on the New York Mercantile Exchange. Yemen's Iran-backed Houthi rebels claimed responsibility for the attack on the Saudi Aramco facility.
Govt looks to plug GST leaks, boost collections
The Centre is planning to tighten processes related to claiming input tax credit (ITC). The government's effort to shore up collections and improve revenues is likely to be a major area of discussion at the GST Council.
PGIM debt funds’ NAV falls up to 30%
PGIM, formerly DHFL Pramerica, said the NCDs of Reliance Broadcast are backed by pledged shares of Reliance Nippon Asset Management.
Sensex drops 262 points as crude oil prices boil
The BSE benchmark sensex on Monday slipped nearly 262 points due to panic sell-offs by investors who were caught off guard by massive spike in crude prices after drone attack on the Saudi Arabia's largest oil processing facility.
China's Aug factory output falls to 17-1/2 yr low
The slowdown in China's economy deepened in August, with industrial production growing at its weakest pace in 17-1/2 years amid rising US trade pressure and softening domestic demand. Despite a slew of growth-boosting measures since last year, China's economy has yet to stabilise.
Ex-Cognizant COO to pay $50,000 fine in bribery case
Former Cognizant COO Sridhar Thiruvengadam has agreed to pay a civil penalty of $50,000 following the latest Securities and Exchange Commission (SEC) order that found that four Cognizant executives, including Thiruvengadam, met by video-conference to authorize the bribe payment that violated the Foreign Corrupt Practices Act (FCPA).
Wholesale inflation unchanged at 1.08% in August
Wholesale price-based inflation was unchanged at 1.08 per cent in August even as prices of food items rose, government data showed on Monday. Inflation in food articles rose to 7.67 per cent in August from 6.15 per cent in July this year mainly on account of rise in prices of vegetables and protein-rich items.
Lenskart gets Rs 392 crore from Kedaara
Eye-wear retailer Lenskart is raising Rs 392 crore ($55 million) from home grown private equity firm Kedaara Capital, according to the latest regulatory documents. Lenskart, which sells its products through online and offline channels, will be valued at around Rs 8,200 crore ($1.15 billion).
Anil Ambani-led RCom's unit files for bankruptcy
A unit of Reliance Communications Ltd, Anil Ambani’s distressed telecom firm, has filed for bankruptcy protection. GCX Ltd, which owns the world’s largest private undersea cable system, is the latest company owned by the tycoon to stumble.
Lower discounts, economic slump take toll: Click-wait for ecommerce as consumers put off buys
Spending on online shopping sites is down by a fifth in first half of 2019, says Kantar report.
12 things to look for in a company’s balance sheet
As the results season gets underway and balance sheets of companies begin to arrive, it is time for investors to understand the ratios that figure in them.
How to restructure my mutual fund portfolio?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Where to invest to build corpus for my sister's wedding
While building a corpus for your sister's wedding, your portfolio needs to ensure capital protection, liquidity and optimum returns.
10% assured yield amid falling rates, dull equity return! Should you go for it?
In the uncertain world that we live in, even a market rebound can’t ensure steady return.
The age at which you should get health insurance and the cover size you will need
How well are you protected? Find out the age at which you should get insured and the cover size you may need.
No oil supply shortage to India, Saudi Aramco assures
Top oil producer Saudi Aramco has told Indian refiners that there will be no shortage in supplies, the oil ministry said on Monday, after an attack on Saudi Arabia’s crude oil facilities over the weekend.
You can’t manage investments without measuring them. Here's why
There’s no excuse for allowing the fog of numbers to prevent you from knowing what is going on with your investments.
'Saudi has assured India oil supply won't be disrupted'
"Following the attacks on the oil stabilization centres of @Saudi_Aramco, top executives of Aramco have been contacted," oil minister Dharmendra Pradhan said in a tweet on Monday. "We have reviewed our overall crude oil supplies...We are confident there would be no supply disruption to India. We are closely monitoring the evolving situation," assured the minister.
ATCOs, others to undergo breath analyser test
So far only pilots and cabin crew have to clear breath analyser (BA) tests. But Directorate General of Civil Aviation (DGCA) chief Arun Kumar has now expanded the scope of this test to all aviation personnel providing critical services as it is essential they are not tipsy when on the job. The tests will kick off by October 30 at ten of India’s busiest airports.
What does a company's enterprise value represent?
This metric measures the theoretical takeover price that an investor would have to pay to buy a company.
All you need to know about taking a loan against your car
The applicant can visit a bank or finance company website to avail loan against car. No guarantor is required for this loan, as the car itself is the security.
Snag in Air India One, Prez stuck in Zurich for hrs
President Ram Nath Kovind’s flight from Zurich to Slovenia was delayed on Sunday after the Air India Boeing 747 that was to fly as AI One developed a snag. According to sources, the president drove to Zurich airport where a last-minute glitch on the 26-year-old jumbo jet (VT-ESO) was suspected.
Why Saudi attack is disruptive for oil supplies?
The attack on Saudi oil facilities on Saturday cut 5.7 million barrels per day (bpd) of Saudi crude output, over 5% of the world's supply and also constrained Saudi Arabia's ability to use the more than 2 million bpd of spare oil production capacity it held for emergencies. KSA has for years been the only major country that has kept significant spare capacity.
Your fortune but everyone's advice: Simple thumb rule to manage a windfall
When blessed with a windfall, making rules before allocating the money always helps. Keep aside enough for future needs before you splurge to fulfill current wants.
SBI shelves plans to list SBI General
Flipkart announces partnership with Japanese brand Miniso
MINISO India plans to bring their merchandise ranging from household and consumer goods and other non-durables to the 2GUD platform.
Mutual fund schemes to invest in for building retirement corpus for my spouse
"Assuming your investment horizon is 25 years, an investment of Rs 5,000 per month can build a corpus of Rs 92.91 lakh, at a CAGR of 12%. "
Low GDP growth a surprise: RBI governor
RBI governor Shaktikanta Das said that low GDP growth is a "surprise". "I think almost everybody had projected not below 5.5% or so, but the number 5% is a surprise," he said. He said the second-quarter growth of all advanced economies was lower than the first quarter so there is a deceleration. Das expressed confidence in govt's recent measures in the slowdown.
'Saudi on track to restore third of lost oil output'
Saudi Arabia, the world's top oil exporter, is expected to restore on Monday, at least a third of the production lost to weekend attacks on two major oil facilities, according to experts and reports.
Crude shock for your equity and debt mutual fund investments
On Monday, oil prices spiked $12 to trade at $71 a barrel in Asia. This is said to be the biggest advance in Oil prices in 28 years.
Default row: Banks ‘must not go solo’
SBI chairman Rajnish Kumar has cautioned lenders against undertaking “selfish steps” without coordinating with other creditors involving a common borrower. Kumar was responding to a query on default by Altico Capital.
After 3 crashes, DGCA begins audit of charter firm
A leading charter operator is under the regulatory lens following three crashes in the last eight years. Delhi-based Air Charter Services (ACS) saw its most recent crash last month when a trainer aircraft went down in Aligarh during approach for landing.
How young earners can manage their debt
Striking a balance when allocating income is important for a young earner. Take a look at this employee's example to draw lessons.