Budget 2020

EPFO dismisses reports about fall in number of subscribers, contributing firms in October

NEW DELHI: Retirement fund body EPFO on Thursday dismissed media reports about a fall in the number of firms and subscribers contributing towards its social security schemes in October. The Employees’ Provident Fund Organisation (EPFO), is an statutory organisation under the Ministry of Labour and Employment. “An article was published in a section of (media) […]

Budget 2020

Get global oil partners to raise output: Pradhan tells exploration firms

India, the world’s third-biggest oil importer and consumer, depends on foreign purchases for more than 80% of its oil needs. Oil Minister Dharmendra Pradhan asked exploration companies to consider farming out their acreages to global players with advanced technology to expedite development and raise oil and gas output. India, the world’s third-biggest oil importer and […]

Budget 2020

‘Sales of manufacturing firms shrank 41% in Q1’

Aggregate sales of private sector manufacturing companies recorded a sharp contraction of 41.1% year-on-year in the first quarter of 2020-21, reflecting the impact of the pandemic-induced lockdown, an RBI analysis on Tuesday said. The data on the performance of the private corporate sector during the first quarter of 2020-21 has been drawn from abridged quarterly […]

Budget 2020

China blue-chips end higher as profits at industrial firms grow

SHANGHAI: China’s blue-chip index inched up on Monday, as industrial firms posted profit growth for a fourth straight month in August, pointing to a continued recovery in the world’s second-largest economy from the coronavirus crisis. The blue-chip CSI300 index rose 0.3%, to 4,581.91, while the Shanghai Composite Index slipped 0.1% to 3,217.53. Profits at China’s […]

Budget 2020

‘FDI of $1 bn flowed from China to over 1,600 firms’

Investment came over four years: govt. More than 1,600 Indian companies have received foreign direct investments (FDI) worth $1 billion from China during the April 2016 to March 2020 period, according to government data. The data was provided in a written reply to the Rajya Sabha on Tuesday to a question on whether it was […]

Budget 2020

Tencent joins Chinese tech firms investing in Singapore

Company forges on with global push after India, U.S. setbacks Gaming giant Tencent Holdings Ltd. said on Tuesday it would develop a regional hub for Southeast Asia in Singapore, opening a new office and becoming the latest Chinese tech firm to invest in the city-State. The new hub comes on the heels of a planned […]