BUSINESS
Edible oil, LPG prices go through roof in 2 years
Mustard oil which was Rs 90 a litre in May 2019 is now selling at Rs 190 a litre while rice bran oil which was Rs 80 a litre is now at Rs 150 per litre. Similarly, groundnut oil is touching Rs 200 a litre in May this year compared to Rs 156 in 2019. Soybean oil is at Rs 140 compared to Rs 95 a litre in 2019.
Samsung, Sony, Hitachi invest in UK healthtech firm Huma
"We're already demonstrating how ‘hospital at home' can transform healthcare, and how decentralized clinical trials can advance research in ways that weren't imaginable even one year ago. Now we want to accelerate the pace of change and continue to innovate for better care and research worldwide.," said Dan Vahdat, Founder and CEO of Huma.
Refiners cut output to prevent stock build up in a market with subdued demand
Industry sources said, country's largest public sector refiner IndianOil has reduced cut output at its refineries to less than 90 per cent levels this month after clocking over 95 per cent refinery throughput last month to prevent build up of stocks as storage facilities are getting full with restricted dale in the market.
9 Unicorns invests in EV mobility startup ElecTorq
Founded by five IIT Delhi alumni, ElecTorq is a full-stack EV solution provider to businesses involved in last-mile mobility of goods and people. ElecTorq was among the 17 companies selected by LightSpeed Venture Partners for its ‘Extreme Entrepreneurs Cohort 2021'. To generate revenue, the company leverages a hybrid business model.
Job activity declined in most Indian industries in April
The employment index by online job search platform Monster saw a decline in job posting activity in April compared to March by 3 per cent. Overall job postings declined by 4 per cent (year-on-year) as of April and openings for entry-level roles declined by 5 per cent (month-on-month), according to latest data provided by the company.
Sensex down 400 points; banking, oil & gas stocks fall
Heavy selling pressure was witnessed in banking, finance and oil and gas stocks.
Around 10.25 a.m., Sensex was trading at 48,717.15, lower by 444.66 points or 0.90 per cent from its previous close of 49,161.81. It opened at 49,171.28 and has so far touched an intra-day high of 49,171.28 and a low of 48,712.42 points.
Fuel prices rise for third day, closing on Rs 100/lt in Mumbai
In Mumbai, petrol now comes for Rs 98.36 a litre and diesel for Rs 89.75, according to a price notification from oil marketing companies. Petrol prices in some states including Rajasthan, Madhya Pradesh and in some places in Maharastra have breached the Rs 100 per litre mark while premium petrol has been hovering above that level for some time now.
UN forecasts India's economy to grow 7.5% in 2021, but warns situation 'fragile'
The mid-year World Economic Situation and Prospects report released on Tuesday said that for a global recovery universal access to Covid-19 vaccine is critical but in India "access to vaccines is unequal and insufficient to meet the massive demand".
UN report predicts stronger world economic growth
In its mid-year update of its World Economic Situation and Prospects 2021, which was released in January 2021, the UN Department of Economic and Social Affairs (DESA) now predicts the world economy will grow 5.4 per cent in 2021 instead of the 4.7 per cent forecast in January 2021, Xinhua reported. DESA revised its forecast for China from 7.2 per cent to 8.2 per cent; and for the US from 3.4 per cent to 6.2 per cent for 2021.
Moody's cuts India growth forecast to 9.3%, warns of severe and prolonged stress
"Policymaking institutions have struggled to tackle and contain these risks, exacerbated by the coronavirus pandemic. Mutually reinforcing risks from deeper stresses in the economy and financial system could lead to a more severe and prolonged erosion in fiscal strength, exerting further pressure on the credit profile," Moody's said.
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