Finance Minister Nirmala Sitharaman today said that Rs 1 lakh crore fund will be created for agriculture infrastructure projects. She addressed the third of a series of press conferences meant to outline India's efforts to reboot its economy that has been hit hard due to the coronavirus pandemic.
Here’s all the finance news from the markets and economy you need to know at the end of this week.
New law to let farmers sell produce outside APMCs, Rs 1 lakh crore for agriculture infra: FM
A facilitative legal framework will be created to enable the farmer for engaging with the processors, aggregators, large exporters in a fair and transparent. Risk mitigation for farmers, assured returns and quality standardisation shall form integral part of the framework. Read more
Highlights of FM’s Day 3 relief package
The government has been facing criticism for its handling of the migrant crisis as lakhs still continue to walk back hundreds of kilometres to their home states as their income dried up because of the lockdown. Here are the key quotes from the Finance Minister's address. Read more
World Bank approves $1 billion social protection package for India, to focus on PDS, Jan Dhan
The World Bank on Friday approved $1 billion 'Accelerating India's Covid-19 Social Protection Response Program' to support the country's efforts for providing social assistance to the poor and vulnerable households, severely impacted by the pandemic. This takes the total commitment from the World Bank towards emergency Covid-19 response in India to $2 billion. Read more
Emirates to resume passenger flight services for 9 cities in 8 countries from May 21
Starting from 21 May 2020, Emirates will resume scheduled passenger flights to 9 cities in 8 countries, including connections between the UK and Australia via Dubai. Emirates will also reconnect with Chicago, Frankfurt, London Heathrow, Madrid, Melbourne, Milan, Paris, Sydney and Toronto. Read more
Johnson & Johnson India includes family benefits for same gender partner
Johnson & Johnson India on Friday announced same-gender partner benefits mediclaim, as well as inclusion in other family benefits like holiday plan, relocation policy, refundable medical advance and adoption leave on the occasion of International Day against homophobia, transphobia and biphobia (IDAHOTB). Read more
Markets end on flat note: Sensex erases early gains after a choppy session, Nifty slips; M&M top loser
The markets made a negative start in continuation with the previous day's fall, shrugging off the positive trade in global markets amid investors' optimism about the re-opening of the US economy from coronavirus lockdowns and possibility of more stimulus which could fuel a recovery. Read more
IRCTC wants your destination address for ticket booking
In order to be able to trace the movement of all passengers in the wake of the spread of COVID-19, the Indian Railways has asked IRCTC to collect information on the destination of passengers. This change has been made effective from 13 May on all passengers booking tickets to travel on special trains. Read more
Facebook Messenger rooms for video calls is now available to everyone; should Zoom be worried?
Facebook Messenger Rooms is now rolling out to all users around the world. It is available in desktop and mobile, and the global rollout will surely add some spice to the already very competitive video calls and video meetings app space. Messenger Rooms’ party piece is the fact that it allows up to 50 people in one group video chat, can be accessed via Facebook or Messenger apps and desktop versions and remains free of charge to use. However, do note that globally, users can create new Rooms via the Messenger app for the time being, while users in the US can create a room from Facebook. Read more
Royal Enfield offers discounts worth Rs 10,000 on purchasing a new motorcycle
The Coronavirus pandemic has affected the automobile industry badly. Many dealerships across the country are on the verge of shutting down and companies have also registered zero sales or very low sales in the month of April. Manufacturers are doing whatever they can to keep the sales going on. Read more
Coronavirus impact: Bajaj extends free service and warranty till July 31
Bajaj has now further extended the warranty and free service facility on all its bikes till July 31, the previous extension date was May 31. The decision was taken after considering many customers who hadn't got to redeem their free service and warranty because of the lockdown. Those customers who have the free services for their bikes scheduled between March 20 and May 31 can now redeem those services until July 31 and the same applies for warranty of bikes that expire between the mentioned dates. Read more
11 richest families in the world: Which Indian family is on the list?
15th of May every year is observed as the International Day of Families. The Day was proclaimed by the UN General Assembly in 1993 with a resolution and reflects the importance the international community attaches to families. The International Day of Families provides an opportunity to promote awareness of issues relating to families and to increase knowledge of the social, economic and demographic processes affecting families. Here is the list of the top 10 richest families in the world
These are the 10 richest families of India!
The International Day of Families. This day provides an opportunity to promote awareness of issues relating to families and to increase the knowledge of the social, economic and demographic processes affecting families. May 15 of each year is observed as the International Day of Families.
In view of this day, here’s a look at the richest families in India not only retaining status for themselves, but also contributing immensely to various sectors and adding to the GDP of the nation. India Gallery
What’s the future for startups like Ola, Swiggy & online education apps? Founder & CEO of Mento Varun Agarwal sheds light
Want to learn about film making as a career? Learn from director Nitesh Tiwari of the 'Dangal' fame. Want to learn about novel writing? Learn from best-selling author Amish Tripathi. Want to learn about anything at all which is career-related? Then you must explore the online edutainment app 'Mento'On Yahoo Finance Interviews, meet the founder and CEO of 'Mento', an online alternate education app where you get to take lessons directly from the experts in their field. Especially during lockdown thanks to COVID-19, put your time to good use and educate yourself in this unique way. Varun Agarwal also shares his views on the state of the economy, what the government could do to help start-up entrepreneurs, how businesses will innovate in the post-COVID world and what's the future of working from offices. Watch video
WTO chief Azevedo quits abruptly a year early
On Thursday, World Trade Organization head Roberto Azevedo in a surprise move announced that he will step down on a year ahead of his planned departure. "At a virtual meeting of all WTO members on May 14, WTO Director-General Roberto Azevedo announced that he would step down on August 31, cutting his second term short by exactly one year," WTO said in a statement. Read more
Oil back at early April highs as demand shows signs of picking up
Oil prices touched a one and a half month high on Friday amid signs demand for crude was picking up, with China reporting increased refinery runs and rounding out a week of bullish news on the supply front.
West Texas Intermediate (WTI) oil was up $1.06, or 3.85%, at $28.62 a barrel at 1347 GMT, after reaching $28.89, its highest since early April. WTI jumped 9% in the previous session. Read more
China's Industrial output returns to growth after coronavirus collapse
China's industrial output returned to growth for the first time this year in April, official data showed Friday, as the country continued its gradual recovery after the coronavirus brought activity to a near-halt. Industrial production grew a more-than-expected 3.9 percent year-on-year last month in a sign that China -- where the pathogen first emerged -- is recovering from tough lockdown measures now seen in other parts of the world. Read more
China healthcare investment booms on virus-related spending bets
China's healthcare and biotech firms are capitalising on a surge of interest in the sector due to the coronavirus pandemic by raising a record $6.8 billion in fresh equity-linked transactions this year. Read more