Business

Mumbai, Mar 6 (PTI) The Indian rupee resumed its downward journey after a day's hiatus on Friday, plummeting by 46 paise to 73.79 (provisional) against the US dollar as coronavirus-panicked investors kept assessing deteriorating financial markets.

At the interbank foreign exchange, the domestic currency started the session with a massive plunge at 73.94 to the US dollar. It went on to hit a day's low of 74.08 before staging a recovery. The rupee finally settled with a loss of 46 paise at 73.79 a dollar.

WASHINGTON, March 6 (NNN-AGENCIES) — US lawmakers passed an emergency $8.3 billion spending bill to combat the coronavirus as the number of cases surged in the country’s northwest and deaths reached 12.

The Senate gave sweeping bipartisan support to the funding one day after the House passed the bill, so that it could be quickly sent to the White House for President Donald Trump’s signature.

The amount is significantly above the $2.5 billion President Donald Trump had initially requested, but he later said he was happy to accept more.

05 Mar 2020; MEMO: Tunisia will suspend passenger ferry services to northern Italy and take other measures in response to the spreading coronavirus, Health Minister Abdelatif el-Mekki said on Wednesday, Reuters reports.

05 Mar 2020; MEMO: Global ecommerce company Amazon will now be delivering parcels for free to customers in the occupied Palestinian territories, reported Wafa news agency.

The Palestinian Economy Ministry said in a statement that the American company has reversed its policy on charging delivery fees for items being delivered to customers in the Palestinian territories.

Bengaluru, Mar 5 (PTI) Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.

Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government.

Mumbai, Mar 4 (PTI) Equity indices resumed their downward march on Wednesday as domestic investors were spooked by a sudden spike in coronavirus cases in India.

The government on Wednesday said 28 Covid-19 cases have been detected in the country so far, up from six as of Tuesday. This includes a group of 16 Italian tourists and their Indian driver.

SINGAPORE, March 5 (NNN-BERNAMA) — An ease in the Malaysian economy as well as the ongoing COVID-19 outbreak seemed to have taken a toll on its tycoons, says Forbes Asia, which released its 2020 Forbes Malaysia Rich List Thursday.

Forbes Asia said the wealth of the country’s 50 richest fell for a second straight year due to a weaker ringgit and a decline of close t 10 percent in the country’s benchmark stock index.

Their collective net worth of US$79 billion is down 7.0 per cent from a year ago, it said.

New Delhi, Mar 4 (PTI) The second phase of the Swachh Bharat Mission (Grameen), which has a total outlay of Rs 1,40,881 crore, was launched by Union Jal Shakti Minister Gajendra Singh Shekhawat here on Wednesday.

SBM (G) Phase-II will focus on sustaining the gains made in the first phase of the programme in the last five years in terms of toilet access and usage, and will ensure that no one is left behind, he said.

New Delhi, Mar 4 (PTI) The government on Wednesday permitted NRIs to control up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government has sought preliminary bids for 100 per cent stake sale in the national carrier.

KUALA LUMPUR, March 4 (NNN-BERNAMA) — The World Bank Group is making available an initial package of up to US$12 billion in immediate support to assist countries coping with the health and economic impacts of COVID-19.

In a statement today, it said the financing is designed to help member countries take effective action to respond to and where possible, lessen the tragic impacts posed by the global outbreak.