Category بیزینس استاندارد

Punjab coornavirus update: Over 2,100 new Covid-19 cases reported

As many as 2,110 new COVID-19 cases were reported in Punjab on Monday, taking the total number of cases to 65,583, according to the State Government.

With 61 more deaths, the death toll in the state reached 1,923.

India on Monday achieved a grim milestone after it replaced Brazil to become the second-worst country hit by COVID-19 as the national caseload crossed the 42 lakh-mark with a spike of 90,802 new cases.

The total coronavirus cases in the country reached 42,04,614 including 8,82,542 active cases, 32,50,429 cured/discharged/migrated and 71,642 deaths, as per the data from the Ministry of Health and Family Welfare.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated fe...

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Latest news LIVE: Azad, Sharma to attend Congress strategy meet today

Ahead of the Monsoon Session of Parliament, the Congress strategy group is scheduled to meet today under the chairmanship of party interim chief Sonia Gandhi after the stormy Congress Working Committee meet weeks ago. Senior Congress leaders Ghulam Nabi Azad and Anand Sharma will be participating in the meeting. Both leaders were signatories to the letter which had demanded a visible and effective leadership in the party.

Meanwhile, the Delhi High Court to hear plea today seeking direction to the Central government and Reserve Bank of India (RBI) to extend the moratorium period for repayment of term loans and credit cards for another 12 months and waive the interest for advocates during the period.

External Affairs Minister S Jaishankar is likely to have a stopover in Iran on Tuesda...

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May soon be overtaking Tesla, says Volkswagen AG’s Bernd Osterloh

Volkswagen AG is in a position to overtake Tesla Inc., both in terms of e-car manufacturing numbers and software development, works council chairman Bernd Osterloh told Welt am Sonntag in an interview.

“If Tesla sets up three factories where 300,000 to 500,000 cars can be produced, then we are talking about a number of units between 900,000 and 1.5 million. We want to achieve the same in 2023, probably even earlier,” Osterloh told the newspaper. VW’s modular electric-drive matrix platform gives the carmaker a “huge” advantage,” as it can build any vehicle of any brand on it, Osterloh said.

Osterloh also expects the “Artemis” engineering task force under Audi CEO Markus Duesmann to catch uo with Tesla’s technological edge...

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We do have two systems of justice in America, says Kamala Harris

The US has two systems of justice for Black and White Americans, Democratic vice presidential nominee Kamala Harris has said, as the Indian-origin Senator rebuked President Donald Trump and his Attorney General for denying there is systemic racism in the country’s justice system.

The strong criticism from Harris, the first Black and Indian-American woman on a major party vice presidential ticket came less than two months before the US presidential election.

Democratic Party’s presidential candidate Joe Biden and his running mate Harris are challenging incumbent President Donald Trump and Vice President Mike Pence of the Republican Party in the November 3 election.

Harris, 55, strongly criticised President Trump and Attorney General William Barr for denying there is systemic racism ...

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India-China clash: Firing takes place on LAC in eastern Ladakh, says report

An incident of firing took place on the Line of Actual Control (LAC) in Eastern Ladakh sector where troops of India and China have been engaged in a stand-off for over three months, sources said on Tuesday.

India recently outflanked China by taking control of strategic height near Pangong lake’s southern bank. It thwarted an attempt by the Chinese army to transgress into Indian areas near the southern bank of Pangong Tso near Chushul in Ladakh.

India and China are engaged in a standoff since April-May over the transgressions by the Chinese Army in multiple areas including Finger area, Galwan valley, Hot springs and Kongrung Nala. The situation worsened after 20 Indian soldiers were killed in violent clashes with Chinese troops in Galwan valley in June.

The talks between the two sid...

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SoftBank stock tumbles nearly 8% with Son’s foray into options trading

SoftBank Group shares tumbled in Tokyo after reports that the Japanese conglomerate made substantial bets on equity derivatives amid the surge in technology stocks.

SoftBank shares dropped as much as 8 per cent, the most on an intra-day basis since March. The stock had gained 33 per cent this year before Monday. The Financial Times, Wall Street Journal and Zero Hedge reported that SoftBank was making massive bets on technology stocks using equity derivatives. The FT labelled SoftBank the “Nasdaq whale” that “stoked the fevered rally in big tech stocks,” though it didn’t include details of any trading.

The reports touched off concerns that billionaire founder Masayoshi Son is embarking on a risky endeavor in unfamiliar territory, which could lead to losses like those SoftBan...

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Abe’s exit and future of India-Japan ties

Shyam Saran

Shinzo Abe has resigned after an unprecedented eight years in office, making him the longest serving prime minister of Japan. He will be missed in Japan where he was able to orient the country towards a more forward looking economic strategy with his “three arrows” of an expansive monetary policy, a flexible fiscal policy and structural reforms to raise productivity and restore growth.

He may not have achieved all his objectives but Japan’s extended period of economic stagnation did give way to modest stirrings of life. The Covid-19 has dealt a severe blow to …

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Agritech firms received $532 million investment till April this year: EY

Agritech companies have received an investment of USD 532 million till April this year for growth and tap the market that has the potential to reach USD 24 billion by 2025, according to an EY report.

“India’s burgeoning start-up ecosystem has been actively playing its part in disrupting the agriculture sector. Agritech start-ups are operating in an attractive market with an estimated potential of USD 24 billion by 2025,” EY said in its report ‘Agritech – towards transforming Indian agriculture’.

The agritech is helping in solving many challenges across the spectrum of the traditional agriculture value chain.

The potential of agritech market can be segmented into supply chain tech and output market linkages (USD 12 billion), financial services (USD 4...

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ITC clocks growth in e-sales, expects festive season to push overall demand

FMCG major ITC is expecting the upcoming festive season to push demand of products, including some discretionary items like perfume, confectionery and cosmetics, according to company chairman Sanjiv Puri.

The company is also witnessing a surge in its online sales, with e-commerce contributing around 4.2 per cent to its overall turnover.

“As far as the festive season is concerned, one should expect upwards (movement in demand). It would vary by categories. Overall consumption would see a lot of upticks,” said Puri at a video conference with reporters.

He, however, said the demand would vary from category to category and in FMCG portfolio, in which ITC is operating.

“In the portfolio of FMCG, we are already seeing a fair amount of buoyancy as consumers are preferring trusted brands…...

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Kamath panel identifies 26 stressed sectors, outlines rules for recast

The Reserve Bank of India (RBI)- appointed expert committee on the resolution framework for Covid-19-related stress outlined the financial parameters to deal with 26 sectors under stress due to the coronavirus (Covid-19) pandemic, which the central bank released on Monday evening.

According to the much-awaited report, the Covid-19 pandemic impacted retail and wholesale trade, roads, textile and engineering, the hardest, while sectors that were already under stress, such as non-bank financial companies (NBFC), power, steel, real estate etc, piled up more misery due to the Covid-19 pandemic.

The committee essentially identified almost all major sectors including auto, real estate and airlines...

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