The world of business is ever-changing, and keeping up with the latest updates is essential for staying ahead of the competition. Today, we take a look at the top 5 headlines from the Times of India Business News that is taking the corporate world by storm.
1. Reliance Industries Limited becomes net debt-free
One of the biggest news of the day is the announcement by Reliance Industries Limited (RIL), India’s largest private sector company, that it has become net debt-free ahead of its March 2021 target. This achievement has been possible due to the whopping ₹1.15 lakh crore raised through Jio Platforms’ stake sale and a rights issue of ₹53,124 crore. This feat has garnered much attention and praise from both investors and industry peers alike.
2. India’s exports decline by 36.47% in May
The COVID-19 pandemic has caused havoc on economies globally, and India is no exception. According to the commerce ministry data, India’s exports have contracted by 36.47% in May, mainly due to steep declines in shipments of petroleum products, gems and jewellery, and engineering goods. With the ongoing uncertainty in domestic consumption and global trade, India’s exports are expected to remain subdued in the short term.
3. Market volatility persists as COVID-19 cases spike
The stock market has continued to remain volatile as the number of COVID-19 cases spike in India and globally. The benchmark BSE Sensex has been witnessing swings of over 1,000 points every few days, reflecting the uncertainty and the cautiousness of the investors. With the pandemic still far from subsiding, experts predict continued volatility in the markets in the near future.
4. India approves plan to privatize six airports
In a major boost to the government’s agenda of privatisation, India’s cabinet has approved the proposal to lease out six airports on a public-private partnership (PPP) basis. The airports in question are: Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram, and Mangaluru. The move is aimed at modernizing the airports and making them more efficient and passenger-friendly.
5. World Bank approves $750 million emergency response programme for India
To support India’s ongoing efforts to tackle the COVID-19 pandemic, the World Bank has approved a $750 million emergency response programme. The programme aims at strengthening the country’s health system, and help in providing immediate support to the vulnerable population and various state governments’ initiatives. This is expected to provide much-needed relief to the beleaguered healthcare system and the vulnerable sections of the society.
In conclusion, these five headlines from the Times of India Business News offer a glimpse into the current state of the Indian economy and the challenges and opportunities it faces. While the pandemic continues to impact businesses and economies worldwide, India’s resilience and ability to adapt and innovate is evident in these developments. It will be interesting to see how these reflect in the long-term growth and development of the country.
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