Sikkim News Today - Live Updates & Latest Sikkim News

14 Feb

Wholesale Inflation Worsens To 3.1% In January Amid Economic Slowdown

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Wholesale inflation worsened to 3.1 per cent in January from 2.59 per cent in the previous month, government data showed on Friday. The release of official data on wholesale inflation - or the rate of increase in wholesale prices - comes at a time when the economy is staring at the worst pace of annual expansion in more than 11 years, and the central bank has paused further monetary easing after reducing the key rates by 135 basis points (1.35 percentage point) last year.The build-up inflation rate came in at 2.50 per cent so far this financial year, as against…

14 Feb

President Donald Trump To Woo Indian Executives During New Delhi Visit

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US President Donald Trump will meet executives of large Indian companies with interests in the United States as he looks to drum up investments during his visit to New Delhi this month.‌Executives of some of the companies expected to attend the meeting include Reliance Industries, diversified group Tata Sons and auto sector companies such as Bharat Forge, Mahindra and Mahindra and Motherson Sumi, industry and business sources told Reuters.President Trump is scheduled to make his first visit as president to India on February 24-25 during which he will travel to Prime Minister Narendra Modi's home state of Gujarat followed by…

11 Feb

Economic Growth Set To Bounce Back As Slump Bottoms Out: Sanjeev Sanyal

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The economic growth is poised to bounce back after slipping to a more than six-year low of 4.5 per cent in the July-September quarter as the government has taken measures to prop up investments and consumer demand, a top government adviser said."Corporate tax reductions, the Insolvency and Bankruptcy Code and the banking sector reforms have helped and will help propel growth further," Sanjeev Sanyal, principal economic adviser at the finance ministry, told Reuters.The Insolvency and Bankruptcy Code, introduced in May 2016, has helped banks to recover billions of dollars stuck in outstanding corporate loans and offer loans to new borrowers.

11 Feb

RBI Releases Draft Framework For New Payment System

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The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems.The central bank has invited comments on the draft framework from all stakeholders by February 25.At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

11 Feb

Economy Not In Trouble; Green Shoots Visible, Says Nirmala Sitharaman

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Finance Minister Nirmala Sitharaman on Tuesday said the economy is not in trouble and green shoots are visible with the country moving towards a $5 trillion economy. Listing initiatives taken by the government, she said, increasing Foreign Direct Investment (FDI), rise in factory output and over Rs 1 lakh crore GST collection in the past three months are indications of green shoots in the economy.

10 Feb

Two-wheeler industry need more time for positive turnaround as Hero MotoCorp reports revenue of Rs. 6,997 Crore in Q3 of FY’ 20

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Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters today reported it’s financial performance for the third quarter (October-December 2019) of the financial year 2020. The company’s Revenue from Operations for the quarter stood at Rs. 6,997 Crore as compared to Rs. 7,865 Crore in Q3 FY’19. Consolidated Revenue and PAT stood at Rs. 7075 Crore and 905 Crore respectively for the quarter. EBIDTA margin for the quarter stood at 14.8%. Hero MotoCorp today also announced an interim dividend of 3250% amounting to Rs. 65 per share. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “The two-wheeler industry continues to face challenges amidst an…

08 Feb

Petrol Price Cut By 23-24 Paise Per Litre, Diesel By 25-27 Per Litre In Metros

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Petrol and diesel prices were reduced in metros on Saturday, February 8 - a third straight day of downward revision. While the price of petrol was lowered by 23-24 paise per litre in Delhi, Mumbai, Kolkata and Chennai, the rate of diesel was brought down by 25-27 paise per litre, according to data from Indian Oil Corporation. The prices of petrol and diesel have been lowered more than 3 per cent each in the four metros so far this year.

08 Feb

How Stock Markets Read Budget 2020, RBI Policy Review This Week

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Domestic stock markets rallied this week with benchmark indices clocking gains of nearly 4 per cent after the February 1 Budget announcements triggered their worst single-day fall in at least 17 months. The S&P BSE Sensex index registered a gain of 1,406.32 points (3.54 per cent) for the week while the broader NSE Nifty benchmark added 436.5 points (3.74 per cent). That marked the biggest weekly gain for the 30-scrip benchmark index since March 2019. Analysts say that the Budget may support the economy in the long term, even though it fell short of near-term market expectations.

07 Feb

Lockheed Martin Inks Pact With BEL To Explore Opportunities For F-21 Fighter

editor0 CommentsBusiness, Sikkim

US defence giant Lockheed Martin on Friday inked an agreement with the state-run Bharat Electronics Limited (BEL) to explore opportunities in the F-21 fighter jet programme.Lockheed Martin has exclusively offered its F-21 military aircraft to India, with an eye to bag the Indian Air Force's $18 billion dollar deal to procure 114 jets."Lockheed Martin signed a memorandum of understanding (MoU) with defence PSU BEL to explore industrial opportunities in the F-21 programme at DefExpo 2020," the company said in a statement.

07 Feb

LIC Valuation Yet To Be Decided, Will Speak To Staff On IPO: Chairman

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The divestment of Life Insurance Corporation (LIC) by the government will not cause any problems for the company's employees, chairman MR Kumar told NDTV on Friday. There will be a reaction by the staff but the company will talk to them, said the LIC chairman, assuring that the proposed stake sale will not lead to its privatization of the insurer. In the Union Budget for 2020-21, the government proposed to divest a part of its stake in LIC in a move that could result in the partial listing of the country's largest insurance company, which led to protests by the…