Business

New Delhi, Mar 18 (PTI) The government is considering rate moderation for small savings schemes in the upcoming quarter, a development that could lead to speedier transmission of monetary policy rate cuts, sources said.

During the current quarter, the government refrained from cutting interest rates on small savings schemes, such as Public Provident Fund (PPF) and National Savings Certificate (NSC), despite moderating bank deposit rates.

Srinagar, Mar 17 (PTI) The Jammu and Kashmir administration on Tuesday barred foreign tourists from entering the Union Territory as a precautionary measure in view of coronavirus outbreak.

"Advisor to the Lt. Governor Baseer Ahmad Khan has issued necessary orders in this regard. Secretary Tourism, Director Tourism and DCs have been asked to ensure implementation of the order with immediate effect," an official spokesman said.

KANPUR: Just to test the price of eggs, the consumers bought one complete crate and it was available at a much lesser price. It proved to a degree that there was ample consequence of the coronavirus on the consumption of the essential commodities in our daily lives.

At one stockist in Jajmau area, one crate of 30-count eggs were available below one hundred. 

The fear of coronavirus has definitely restricted the people to consume the egg and as a result, the demand has decreased. This has brought the price down, this trend reflects in the open market.

Mumbai, Mar 18 (PTI) Equity benchmark Sensex plunged over 1,709 points on Wednesday as talks of stimulus measures to cushion the economic blow of the Covid-19 pandemic failed to cheer markets across the globe.

The BSE barometer swung over 2,488.72 points in a highly volatile session, before ending 1,709.58 points or 5.59 per cent lower at 28,869.51.

WASHINGTON, March 18 (NNN-AGENCIES) — The International Monetary Fund on Tuesday rejected economically devastated Venezuela’s request for a $5 billion loan to help it cope with the onslaught of coronavirus on the country.

MANILA, Mar 18 (NNN-PNA) – The World Bank earmarked a 100-million-U.S. dollar fast-track loan, to help the Philippines fight COVID-19, the Philippine Department of Finance said.

The fiance department said today, the funds will enable the Department of Health (DoH) to procure personal protective equipment for health care workers, along with testing and laboratory materials, quarantine areas, isolation rooms and other essential equipment, to contain the spread of the viral disease.

Lucknow, Mar 17 (PTI) A factory manufacturing fake hand sanitisers was busted by district administration officials here on Tuesday, officials said.

Acting on a tip-off, a team of Lucknow administration and drug administration department conducted a raid at Mahalakshmi Chemicals in Nishatganj locality and recovered 10,000 bottles, 100 ml each, of fake sanitisers, said a senior official.

Mumbai, Mar 16 (PTI) The Indian rupee continued its downward spiral and plunged 50 paise to 74.25 (provisional) against the US dollar on Monday as concern over the economic fallout from the coronavirus pandemic outweighed the US Fed's emergency interest rate cut and the RBI's liquidity enhancing measures.

Forex traders said the fall in the domestic unit was in line with other Asian peers amid mounting fears of a coronavirus-led economic slowdown.

Berlin, Mar 16 (AFP/PTI) The German government has promised to defend itself against alleged attempts by US president Donald Trump to buy exclusive rights to a German company's research into a vaccine against the coronavirus.

"Germany is not for sale," economy minister Peter Altmaier told broadcaster ARD, reacting to a front page report in Welt am Sonntag newspaper headlined "Trump vs Berlin".

Mumbai, Mar 17 (PTI) Gulf airline flydubai has temporarily suspended its services to India for a month due to travel and visa restrictions in the wake of coronavirus (Covid-19) outbreak.

The pandemic is adversely impacting the airline industry world over with carriers cancelling or cutting down services across their international network.