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India is likely to refrain from LPG buying on the spot market for the next few months. Photo | Bloomberg

More personal vehicles, cooking at home spark a petrol and LPG boom in India

Overall consumption of petroleum products was almost at pre-Covid levels last month with petrol and LPG sales posting a year-on-year increase.
PMC Bank depositors protest against the bank in New Delhi on 23 September 2020. | Photo: ANI

Hope for troubled PMC Bank as 4 entities show interest in acquiring it

PMC Bank, put under restrictions in September 2019, had invited expressions of interest in November, and 4 entities — financial sector players and corporates — have come forward.

Covid killed 81 million jobs in Asia-Pacific this year, ILO says

Young people have been affected by working-hour and job losses, the ILO said, with the youth share of employment losses three to 18 times higher than their share of total employment.
A pedestrian wearing a protective face mask is reflected in an electronic stock board outside a securities firm in Tokyo, Japan on 29 October, 2020| Photographer: Kiyoshi Ota/Bloomberg

These are the 10 themes that’ll determine the direction of emerging markets in 2021

These themes are likely to keep dominating developing economies that collectively account for $30 trillion, or about 34% of global gross domestic product.
A building in Gujarat GIFT City | Commons

Indian residents can now invest in GIFT City under LRS, but RBI isn’t thrilled about it

The IFSC regulator has approved banking regulations for IBUs. It has allowed resident Indians, with a net worth of not less than $1 million, to invest in IBUs.
Finance Minister Nirmala Sitharaman holds a press conference in New Delhi on 12 November, 2020 | Photo: Praveen Jain | ThePrint

Next budget will have ‘vibrancy’ to ensure the economic revival continues, says Sitharaman

Speaking at the Assocham Foundation Week, Finance Minister Nirmala Sitharaman also said that the pace of disinvestment, hit by the Covid, will pick up in the coming months.
An employee counts Indian rupee banknotes at a Walmart Inc. Best Price Modern Wholesale store in Hyderabad, India, on 16 March 2019 (Representational Image) | Photo: Dhiraj Singh | Bloomberg

S&P raises India’s GDP forecast to (-) 7.7% for FY21

The US-based rating agency said rising demand and falling infection rates in India have led to revision of the real GDP growth from the negative 9% growth previously.
Representational image. DHFL Logo | Twitter

DHFL gets big bids as NBFC sector begins to show signs of recovery

Oaktree Capital Group has offered Rs 366.5 billion, up from Rs 310 billion in its previous bid for DHFL. Piramal Enterprises and Adani Group also improved their proposals.

China’s recovery gathers pace in November, setting up strong growth for 2021

China's industrial output rose 7% in November from a year earlier, and retail sales expanded 5%. The data shows the breadth of the recovery since a contraction in output in Q1.
According to a global study by Morningstar, India and US are the two most investor-friendly markets in terms of best practice for portfolio disclosure (representational image) | Pixabay

India, US are world’s most investor-friendly for portfolio disclosure by funds, study finds

India & US earned top grades for robust disclosure regimes across 6 categories including fees, transparency of fund holdings & issues such as conflicts of interest.

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