Goldman Sachs has said that the Reserve Bank of India is likely to cut repo rate by 25 basis points in its April policy. The US-based investment bank has cited three fa

RBI to slash repo rate by 25 basis points, says Goldman Sachs

Goldman Sachs has said that the Reserve Bank of India is likely to cut repo rate by 25 basis points in its April policy. The US-based investment bank has cited three factors - weakening of economic activity, benign inflation and soft global growth -- to justify its stand on the rate cut. The financial services firm also said that the central bank is likely to backtrack and re-introduce 'tightening' policy by 2020 as growth picks up and inflation breaches RBI's 4% target. 

The head of German pharmaceutical company BioNTech said Monday that there is no need to waive patents on coronavirus vaccines because manufacturers will be able to prod

The head of German pharmaceutical company BioNTech said Monday that there is no need to waive patents on coronavirus vaccines because manufacturers will be able to produce enough shots to supply the world over the coming year.
Ugur Sahin, the chief executive of BioNTech, rejected the US-backed proposal to temporarily lift some intellectual property rights for vaccines.
In a call with investors announcing the company's first-quarter net profit of USD 1.37 billion, Sahin said BioNTech and its US partner Pfizer had already delivered vaccines to more than 90 countries and more than doubled its forecast production capacity for the year.

The ride-hailing company, Ola on Monday said it has partnered with donation platform GiveIndia to provide consumers with oxygen concentrators. The service,

Looking to pitch in and help during the raging covid&nbsp;crisis,&nbsp;ride-hailing company, Ola&nbsp;has partnered with donation platform GiveIndia to provide consumers with oxygen concentrators.&nbsp;
The service will be provided for free through the Ola app, and will be rolled out in Bengaluru from this week with an initial set of 500 oxygen concentrators to be scaled up to 10,000 soon.&nbsp;
Consumers request for an oxygen concentrator from the Ola app by providing a few basic details. Once verified a specially trained set of Ola&nbsp;drivers will deliver the concentrator to the patient's&nbsp;doorstep.&nbsp;
Once the patient has gotten better and no longer requires the concentrator, Ola will pick the device back up and return it to GiveIndia to get it ready for the next patient who needs it.
&nbsp;

Data from 15,000 automobile dealers shows that registrations for new cars/personal vehicles has come to skidding halt due to the lockdown. The Federation of Automo

Data from&nbsp;15,000 automobile dealers shows that registrations for new cars/personal vehicles has come to skidding halt due to the lockdown. The Federation of Automobile Dealers Association stated that new vehicle registrations were cut down to just a third in April.&nbsp;
Over 20,000 dealerships, auto retail stores across the country remain shut. That is 75% out of 26,500 outlet and stores that are open are also not seeing footfall. Compared to March when sales and discounts were being given automakers may see a fall of 80% in sales as per auto analysts.&nbsp; Many companies are extending production shutdowns to avoid inventory pile-up.&nbsp;Hero MotoCorp had originally announced the shutdown from April 22 to May 1, which was later extended to May 9. However, with the Covid cases still on the rise, the shutdown has been extended till May 16, 2021.

India's largest cryptocurrency exchange WazirX is facing heat on social media as its users could not place fresh bets due to a payment snag. For the last two-three days

India's largest cryptocurrency exchange WazirX is facing heat on social media as its users could not place fresh bets due to a payment snag. For the last two-three days, multiple users have taken to social media to complain about their deposit service.
WazirX&nbsp;in response said that the delay in accepting funds was due to a network issue at its banking partner's end. It added that the money that was debited from traders' accounts would be credited back ASAP&nbsp;and the funds were safe.&nbsp;
This is not a new issue for users even last&nbsp;week, many&nbsp;users had posted complaints on social media about transaction delays, payment failures and their money getting stuck.&nbsp;To which the company had said&nbsp;its servers were being overwhelmed by traffic caused by the massive demand for Dogecoin. In the past 10 days, the crypto&nbsp;world has seen a sharp surge in demand for Dogecoin&nbsp;and Ethereum.
An upsurge in traffic could also be the potential reason for the glitch.&nbsp;WazirX&nbsp;added one million users during April and is eying to onboard 10 million customers on its platform by the end of the ongoing quarter.
&nbsp;

The global metal mania is continuing as prices of all base metals continue to sky rocket Copper’s already doubled in the past year to more than $10,000 a ton

The global metal mania is continuing as prices of all base metals continue to sky rocket&nbsp;Copper&rsquo;s already doubled in the past year to more than $10,000 a ton and Bank of America expects it to repeat the 100% performance and hit $20,000.&nbsp;&nbsp; The spotlight on Monday&rsquo;s trade is on iron ore as prices as future trade in the global market&nbsp;jumped more than 10% to hit a fresh record high of $226 a ton. It has rallied over 25% in just one week.&nbsp;&nbsp; Aluminum not left far behind is charging up towards its 2018 peak of $2,718&nbsp; In the last 30 trading session as the market headline remained tepid and flat metals stocks have given soaring returns. Here are some of the top gainers-:&nbsp; SAIL - 80%&nbsp; JSW Steel - 63%&nbsp; Tata Steel - 50%&nbsp;&nbsp; NMDC 27%&nbsp; Nalco: 23%&nbsp; And the bets continue on brokerages as Goldman Sachs, JPMorgan continue to bet on the space and stocks.&nbsp;

14 listed companies, totaling a value of ₹10.1 lakh crore, that’s the value held in the stock market by the salt to software conglomerate Tata Sons. The

14 listed companies,&nbsp;totaling&nbsp;a value of ₹10.1 lakh crore, that&rsquo;s the value held in the stock market by the salt to software conglomerate Tata Sons. The massive rally in Tata Steel due to the global metal&nbsp;supercycle, supported by Tata Motors and Power as well has supported the&nbsp;upmove&nbsp;largely given by the heavyweight TCS. Overall&nbsp;the value of Tata Sons&rsquo; holdings is up a whopping 86% in just one year.&nbsp;

Mukesh Ambani climbs the retail king ladder as well Mukesh Ambani promoted Reliance Retail has been ranked the second-fastest growing retailer in

Mukesh Ambani&nbsp;promoted Reliance Retail has been ranked the second-fastest growing retailer in the world in the 2021 ranking of global retail power houses by Deloitte.&nbsp; &nbsp;&nbsp; Reliance Retail is India&rsquo;s only entry in the 250 ranks but was pipped for the pole post by South Korea&rsquo;s largest online retailer Coupang.&nbsp;&nbsp; &nbsp;&nbsp; In the overall ranking Reliance Retail has been ranked 53rdin the list of Global Powers of Retailing, improving from 56th earlier.&nbsp; &nbsp;&nbsp; The list is topped by US giant Walmart, which retains its position as world's top retailer. Amazon.com improved its position to rank second, while Costco slipped to third in the rankings&nbsp;&nbsp;

After a short weekend weekend breather, consumers got a jolt of another steep hike in fuel prices. Petrol Price were hiked by up to 26 Paise; Diesel by up to 35 Pa

After a short weekend breather, consumers got a jolt of another steep hike in fuel prices.&nbsp;Petrol prices were hiked by up to 26 Paise; Diesel by up to 35 Paise on Monday.&nbsp; Petrol is priced at an all-time high of Rs 98.86 per litre in Mumbai. In Delhi, petrol is available at Rs 91.53 per litre. In Chennai, a litre of petrol will cost Rs 93.38. Petrol is being sold at Rs 91.66 per litre in Kolkata. Petrol prices have now been hiked by 1 rupee and 14 paise&nbsp;over the last one week. Experts see further price hikes as crude continues to climb.&nbsp;Global prices inched towards $70/bbl mark after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States

Keeping to his word on Twitter on April 1, Elon Musk promoted SpaceX will accept Dogecoin as payment for the DOGE-1 Mission to the Moon which will be launched betw

Keeping to his word on Twitter on April 1, Elon Musk promoted SpaceX will accept Dogecoin as payment&nbsp;for the DOGE-1 Mission to the Moon which will be launched between Jan-March of 2022.
SpaceX vice president was quoted as saying &ldquo;We&rsquo;re excited to launch DOGE-1 to the Moon!&rdquo;
DOGE-1 will fly a&nbsp;40-kilogram&nbsp;cube satellite as a payload on a Falcon 9 rocket to obtain lunar-spatial intelligence from sensors and cameras.
Dogecoin, the cryptocurrency&nbsp;which was created as a joke, has given 26,000% returns&nbsp;in the past six months. However, the value of the crypto&nbsp;fell as much as a third on Sunday when the 'Dogefather' called it a hustle on SNL.

In a response to West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST on Covid related dru

In a response to&nbsp;West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST&nbsp;on&nbsp;Covid&nbsp;related drugs and vaccines,&nbsp;Finance Minister Nirmala Sitharaman&nbsp;has said that&nbsp;GST exemption would make these items costlier. The FM tweet that a&nbsp;5 per cent GST rate ensures that the manufacturer is able to utilise ITC and in case of overflow of ITC, claim refund. Hence exemption to vaccines from GST would be counterproductive without benefiting the consumer. 
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while it is 12 per cent in case of Covid drugs and oxygen concentrators.&nbsp;&nbsp;

According to a study by the Pew Research Centre, an estimated 75 million people have slipped into poverty in India since the pandemic began. A study by Azim Premji Univ

According to a study by the Pew Research Centre, an estimated 75 million people have slipped into poverty in India since the pandemic began last year. A study by Azim Premji University paints a much more grim picture- 230 million fell below the national daily minimum wage of 375 rupees since the covid outbreak in 2020.&nbsp; According to data from Centre for Monitoring Indian Economy, the rate of joblessness rose to nearly 8% in April 2021 from 6.5% in March with an exodus of more than 7 million people from the workforce.&nbsp;The informal sector, which employs approximately 411 million workers, has suffered the brunt of the restrictions and curbs. The pandemic-induced lockdowns have shrunk the incomes and exhausted the savings.&nbsp;The depleting household savings and falling incomes will affect domestic consumption, which accounts for almost 60% of the GDP, economists have warned.&nbsp; According to the government statistics, the GDP shrank 8% in the last year, the biggest contraction since 1952. Economists have slashed their forecasts for the current fiscal year. Although India could still emerge as one of the fastest growing economies, according to the NGO Oxfam, it will also be one of the most unequal country.&nbsp;

Cadila Healthcare Ltd. plans to submit trial data for its Covid-19 vaccine by end of May and is looking for an approval in June, Financial Express r

Cadila&nbsp;Healthcare&nbsp;Ltd.&nbsp;plans to submit trial data for its Covid-19 vaccine by end of May and is looking for an approval in June, Financial Express&nbsp;reported&nbsp;citing Sharvil Patel, managing director of Cadila.
The Phase-III clinical trials of the ZyCoV-D vaccine will be representative of its efficacy against many known variants as different ones have surfaced in this wave, Patel told Financial Express.&nbsp;
Cadila Healthcare&nbsp;started producing its potential Covid-19&nbsp;vaccine last month for which it will seek emergency use authorisation in May or June, with an aim to make up to 240 million doses a year.

India's largest insurer will now allow alternate proofs of death in lieu of municipal death certificates in order to facilitate speedy settlement of deat

India's largest insurer will now allow&nbsp;alternate proofs of death&nbsp;in lieu of municipal death certificates in order to&nbsp;facilitate speedy settlement of death claims.&nbsp;
The other proofs of death include death certificate, discharge summary/death summary containing clear date and time of death issued by government/ESI (employees' state insurance) /armed forces/corporate hospitals and counter-signed by LIC class I officers or development officers of 10 years standing. This has to be submitted along with a cremation/burial certificate or authentic identifying receipt issued by the relevant authority, LIC&nbsp;stated.&nbsp;
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Amazon's annual Prime Day event which is blockbuster sale day for the e-commerce giant will be postponed this year for India due to the covid crisis and local

Amazon's annual&nbsp;Prime Day event which is blockbuster sale day for the e-commerce giant will be postponed this year for India due to the covid&nbsp;crisis and localised lockdown&nbsp;leading to delivery disruptions.&nbsp; Amazon&rsquo;s flagship Prime Day sale is scheduled to take place globally in June but will not to be launched in India at that time as per reports.&nbsp; Last year Amazon launched it's Prime Day sale in India in August and&nbsp;saw sales of as much as $500 million in the 2-day event.&nbsp;
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In a notification on Friday the govt has allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of Rs 2 lakh from patients or

In a notification on Friday, the govt has allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of&nbsp;₹2 lakh from patients or on behalf of them till May 31.
Central Board of Direct Taxes (CBDT) stated that the person making the payment will have to produce their PAN or Aadhar&nbsp;card and also establish the relationship between the patient and themselves.&nbsp;
Many Covid&nbsp;centres were demanding cash which was not permissible above the limit of&nbsp; ₹2 lakh&nbsp;as per&nbsp;income tax law.&nbsp;

WhatsApp has scrapped its May 15 deadline for users to accept its controversial privacy policy update and said not accepting the terms will not lead to deletion of acco

WhatsApp has scrapped its May 15 deadline for users to accept its controversial privacy policy update and said not accepting the terms will not lead to deletion of accounts. A WhatsApp spokesperson told PTI that no accounts will be deleted on May 15 for not accepting the policy update. The PTI report further added that while a &ldquo;majority of users who have received the new terms of service have accepted them," some people have not had the chance to do so yet. WhatsApp has not clarified the reason behind the decision and did not divulge the number of users who have accepted the terms so far either. The company had faced severe backlash over concerns that user data was being shared with Facebook

In a move to safeguard assets overseas from the threat of Cairn seizing them the Govt has asked state run banks to reduce cash holding in overseas accounts as per ET.&n

In a move to safeguard assets overseas from the threat of Cairn seizing them the Govt has asked state run banks to reduce cash holding in overseas accounts as per ET.&nbsp; Govt though is looking to appeal is liable to pay Cairn&nbsp;$1.2 billion in damages in a long drawn-out tussle over retrospective tax claims.
Cairn has registered its claim against India in courts in the United States, Britain, France, the Netherlands, Singapore and Quebec, moves that could make it easier to seize assets and enforce the billion dollar award.
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Flurry of fuel price hikes post elections continues as, Friday marks the fourth straight day of hike in petrol and diesel prices across the nation, with fuel pumps in R

Flurry of fuel price hikes post-elections continues as, Friday marks the fourth straight day of hike in petrol and diesel prices across the nation, with fuel pumps in Rajasthan&nbsp;and Madhya&nbsp;Pradesh&nbsp;retailing petrol over ₹102/litre.&nbsp; Petrol price was hiked by a steep 29 paise per litre and diesel by 31 paise a litre. This brings the cumulative hike in petrol to 88 paise&nbsp;just this week. Here are the rates in the metros as of Friday:&nbsp; Delhi - ₹91.27 Mumbai&nbsp;- ₹97.61 Bangalore - ₹94.30 Chennai -&nbsp;₹93.15
This is the second time this year that rates in some parts have crossed the ₹100 mark - they had breached the physiological mark for the first time in mid-February.
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Reports indicate that IPO bound Zomato is looking to invest in e-grocery delivery platform Grofers. Economic Times reports as per sources that food delivery

Reports indicate that IPO&nbsp;bound Zomato is looking to invest in&nbsp;e-grocery delivery platform Grofers.
Economic Times reports as per sources that food delivery app Zomato is looking to invest $100 million in SoftBank&nbsp;backed&nbsp;Grofers,&nbsp;&nbsp;this comes after failed talks of a possible merger over a year ago.
Deepinder Goyal-led Zomato&nbsp;is looking to make the investment as Grofers&nbsp;backs out of US IPO&nbsp;plans and rival Swiggy&nbsp;also looking at fund raising from SoftBank.&nbsp;

Private jet and helicopter operator JetSetGo has seen a 900% surge in bookings from India in recent weeks with Indian families and expats looking to flee Indi

Private jet and helicopter operator JetSetGo&nbsp;has seen a 900% surge in bookings from India in recent weeks with Indian families and expats&nbsp;looking to flee India's covid inferno.&nbsp; Kanika Tekriwal, CEO&nbsp;told CNBC&nbsp;that,&nbsp;"The majority of them are fleeing to Maldives, which currently offers quarantine at a secluded resort for passengers arriving from India, or Dubai, which allows entry from business purposes." But it is not just tycoons or celebrities JetSetGO&nbsp;is now seeing 70% demand coming from upper middle class families that are pooling resources. So how much does it cost?&nbsp;$18,000 to $20,000 for an eight-seater jet to Maldives, or $31,000 for a six-seater jet to Dubai confirms&nbsp;JetSetGO.

RBI to slash repo rate by 25 basis points, says Goldman Sachs

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Business

Vaccine maker BioNTech says no need to waive patents

Covid-19: Ola announces doorstep delivery of free oxygen

Dead end for Auto, Companies extend shutdown as sales slide

Cryptocurrency traders annoyed with India's largest exchange WazirX

The metal mania, copper doubles, iron ore soars

₹10 lakh crore: The worth of listed holdings of Tata Sons

Mukesh Ambani climbs the retail king ladder as well

Petrol, Diesel prices see steep hike, 100 mark crossed, bets rise on further hikes

Musk truly 'the Dogefather' as SpaceX accepts Dogecoin as payment

Move will make them costlier: FM rules out GST waiver on Covid vaccines

Shrinking incomes, depleting savings: millions plunged into poverty in India due to Covid

India’s Cadila Healthcare eyes approval for Covid-19 vaccine by June

LIC relaxes claim settlement requirements amid rising claims

Amazon postpones Prime Day sale in India

Govt removes cap on cash payment for covid treatment

WhatsApp scraps May 15 deadline to accept new privacy policy terms

Govt may ask PSU Banks to clear foreign accounts as Cairn concerns rise

Petrol over the 100 mark, 4th day of petrol and diesel price hikes

Grofers set to receive investment order from Zomato

Demand for private planes surges 900%, as Indians look to escape the Covid inferno

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