A cashier displays 2000 Indian rupee notes in Jammu. Reuters
India’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $420 billion from $418.687 billion reported for the week ended May 3.
Modi has come under increasing pressure to fire up the economy, which has slowed in each of the past three quarters -- losing its status as the world's fastest-growing -- with unemployment at its highest since the 1970s.
Sensex and Nifty gained for the second straight day on Friday amid reports that the government could roll-back or tweak the controversial tax on the Foreign Porfolio Investors (FPIs).
Despite the flight of over Rs20,500 crore worth of foreign funds from the country’s stock market, the government seems adamant to implement the taxation surcharge on the super-rich category, which has spooked Foreign Portfolio Investors (FPIs).
Automobili Lamborghini is converting departments of its super sports car production plant in Italy’s Sant’Agata Bolognese in order to produce surgical masks and protective plexiglass shields.
Alphabet’s Google published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of the novel coronavirus pandemic.
For the second week in a row the U.S has recorded high jobless claims, increasing the fears of economic damage. The fear has pushed investors towards Gold and the price has jumped over 1% on Thursday.
Dubai Economy issued fines to nine pharmacies and two pharmaceuticals suppliers for inflating the prices of face masks and trying to take undue advantage of the high demand for hygiene essentials following the nationwide alert against the Covid-19 pandemic.