Business

23 Mar 2020; MEMO: Russia never sought a sharp oil price fall or an end to cooperation with the Organisation of Petroleum Exporting Countries (OPEC), and the Gulf nations are to blame for the crisis on the global oil markets, a senior Russian official said, according to Reuters.

Mumbai, Mar 23 (PTI) In a bid to provide additional liquidity to the system hit by the coronavirus outbreak, the Reserve Bank of India (RBI) on Monday decided to inject Rs 1 lakh crore and assured such move further also if required.

The first tranche of term repo worth Rs 50,000 crore was conducted on Monday, while the second tranche of the same amount will be conducted on Tuesday.

New Delhi, Mar 23 (PTI) Hyundai Motor and Toyota Kirloskar Motor (TKM) have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak.

Hyundai has decided to halt production at its Chennai plant while TKM has put brakes on manufacturing at its Bidadi facility in Karnataka.

Mumbai, Mar 23 (PTI) The Indian rupee slipped further by 95 paise to 76.15 against the US dollar in opening trade on Monday amid sharp rise in coronavirus cases in the country and heavy selling in domestic equities.

Forex traders said market participants are concerned that the sharp rise in coronavirus cases, with nearly 400 cases in the country, could weigh on the economy.

Washington, Mar 23 (AFP/PT I) A trillion-dollar Senate proposal to rescue the reeling US economy crashed to defeat Sunday after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

Democrats said the Republican plan failed to sufficiently protect millions of American workers or shore up the critically under-equipped health care system during the coronavirus crisis.

New Delhi, Mar 22 (PTI) Services of Ola and Uber will not be available in Delhi till March 31 amid the lockdown announced by the state government to contain the spread of coronavirus infection.

The Delhi government on Sunday said the city will be in lockdown from March 23 to 31, under which no public transport, including private buses, taxis and autorickshaws will be allowed.

Mumbai, Mar 23 (PTI) Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.

After opening 2,718 points lower, the BSE barometer plunged 2,991.85 points or 10 per cent to 26,924.11.

New Delhi, Mar 23 (PTI) Lok Sabha passed the Finance Bill, 2020, without any discussion on Monday as the House curtailed its sittings in the wake of the coronavirus outbreak.

More than 40 amendments were introduced by the government to the Finance Bill, which was moved for consideration and passing by Finance Minister Nirmala Sitharaman.

SINGAPORE, March 23 (NNN-BERNAMA) — Singapore Airlines (SIA) will be cutting 96 per cent of the capacity that had been originally scheduled up to end-April, given the further tightening of border controls around the world over the last week to stem the COVID-19 outbreak.

“This will result in the grounding of around 138 SIA and SilkAir aircraft, out of a total fleet of 147, amid the greatest challenge that the SIA Group has faced in its existence,” it said in its website.

Mumbai, Mar 22 (PTI) Mumbai, also knows as the city that never sleeps, finally braces for a virtual lockdown as local train services will stop from Sunday midnight till March 31 in a bid to contain the spread of coronavirus.

However, BEST bus services will continue in the metropolis to facilitate movement of staff of the essential services, a state government official said.