city Mumbai: Latest News

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27.05.2020 / 08:47

Titan’s covid-19 update reinforces recovery would be slow

MUMBAI: Nobody expects consumer demand to recover in a jiffy in times of covid-19 even as lockdown restrictions are being eased. Within this, demand for consumer discretionary products would take longer to revive.

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₹1.57 crore in grants to covid-19 solution providers

MUMBAI: Marico chairman Harsh Mariwala’s non-profit Marico Innovation Foundation has provided ₹1.57 crore in grants to three companies that have created innovative and affordable personal protective equipment (PPE), sanitisation chambers, and masks.

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IndiGo to help man who sold his goats to buy flight tickets

IndiGo, India’s biggest airline, has agreed to help a migrant laborer and two others fly home from Mumbai after an earlier flight he paid for by selling family livestock was canceled.

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Mcafee finds massive growth in corporate cloud attacks via personal device

MUMBAI: Cybersecurity firm McAfee has found a correlation between the increased use of cloud services and collaboration tools, such as Cisco WebEx, Zoom and Microsoft Teams, and a rise in cyberattacks targeting the cloud during the covid-19 pandemic.

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IDFC First bank sees pick up in consumer durable financing

MUMBAI: IDFC First Bank has witnessed a pick up in consumer durable fiinancing in parts of the country where lockdown curbs have eased.

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Lower costs drive Jindal Steel and Power Q4 growth, but outlook challenging

MUMBAI: Jindal Steel and Power Ltd saw a decent growth in its operating profit in the March quarter due to higher realisations. But the coming quarters could test its operating parameters as the two-month lockdown has slowed construction and manufacturing activity.

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A dozen companies declare financial impact of covid-19 after a rap from Sebi

MUMBAI: After a rap by Securities and Exchange Board of India (Sebi), a dozen odd companies have disclosed the financial hit from the covid-19 crisis.

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Sebi slaps penalty on NHAI for delay in filing financial results

MUMBAI : Securities and Exchange Board of India (Sebi) haimposed a penalty of ₹7 lakh on the National Highways Authority of India (NHAI) for delay in disclosing financial results.

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HDFC Life pins hopes on Wise to thrive in a post-covid world

As the government eased restrictions, the insurer is gradually opening its branches, though its headquarters in a Mumbai red zone remains shut

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Lenders spot green shoots in retail credit as businesses reopen

RBI data shows that between 27 March and 8 May, total outstanding non-food credit shrank by ₹1.36 tn, or about 1.32%

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Maharashtra breaks the corona chain, launches chase the virus campaign

MUMBAI : Two months after Maharashtra began its fight against coronavirus, it has been able to break the chain by contact tracing and doubling the rate of corona patients from three days to 14 days, the government said today.

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Five things to remember before booking air tickets

Look at the policies regarding cancellation, credit shells and travel insurance claims

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QIP is a tool used by listed companies to sell shares or other securities, which are convertible into stocks, to qualified institutional buyers such as mutual funds

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Railways threaten to derail containment strategy of states, says Kerala CM Pinarayi Vijayan

The state argued that this was to prevent from a potential community spread break out, which it does not have currently, from a large arrival of undocumented returnees

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Maharashtra sees 2,091 new Covid-19 cases, record 97 deaths in last 24 hours

With 2,091 fresh coronavirus cases in the last 24 hours in the state, Maharashtra's Covid-19 count today breached 54,000-mark. The total number of confirmed coronavirus patients in the state now stands at 54,758, according to the state health department.

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Maharashtra ex-CM refutes claims that Centre not giving money to fight covid-19

MUMBAI : Former chief minister of Maharashtra and opposition leader of Bharatiya Janta Party Devendra Fadnavis, on Tuesday, expressed his party’s displeasure with the way the incumbent state government is dealing with the covid-19 crisis and said that Maharashtra can get a benefit of Rs. 2.71 trillion from the stimulus package of the central government, which is not happening since the state government is unable to take bold decisions.

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Day 2 of domestic flights: 325 departures till 5 pm, cancellations continue

Our airports have handled 325 departures and 283 arrivals with 41,673 passengers till 5 pm on Tuesday, said Aviation Minister Hardeep Singh Puri

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Mumbai airport continues to have curtailed operations on Day 2

Mumbai, May 27 (PTI) AAI-GVK group-run Mumbai airport continued to have curtailed operations for the second day on Tuesday with a total of 22 departures and 19 arrivals along with three cancellations.

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States deficit jumps to 4.5% of GDP, revenue gap seen to soar 7-times to 2.8%: Report

Led by a massive spike in revenue deficit of 2.8% of GDP, the aggregate fiscal deficit of the states will rise to 4.5% of the GDP in 2020-21 at ₹8.5 trillion as against the earlier forecast of 3% of GDP, the report said

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Mumbai faces grim battle to provide critical care as cases spike

MUMBAI: A 29-year old Mastan Shaikh ran from pillar to post for four days searching for an intensive care unit (ICU) bed for his 53-year old critically ill father.

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Sebi looks to curb MF redemption risks, explores more investors, lower threshold

MUMBAI: The Securities and Exchange Board of India (Sebi) is considering a series of steps to reduce redemption risks in mutual fund schemes, said two people with direct knowledge of the matter. One of the ways could be to ask asset management companies (AMCs) to have more investors in a scheme from at least 20 now and the other could be by reducing the investment threshold of an investor in a scheme, these sources said.

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Covid-19: Capex cut by states to hit construction sector, says Icra

MUMBAI : With states staring at huge revenue deficits in the wake of significant contraction of gross tax collections due to the disruption caused by the COVID-19 pandemic, the overall capex budgeted by these governments is likely to witness a steep cut, thus impacting the construction industry, says Icra.

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Mumbai: Skoda Auto Volkswagen India Pvt Ltd on Tuesday launched its Karoq sports utility vehicle at ₹24.99 lakh, ex-showroom.

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MUMBAI : Kotak Mahindra Bank on Tuesday launched qualified institutional placement (QIP) offering to raise up to ₹7,500 crore. The bank has set a floor price of ₹1,147.75 per share for the offering. QIP is a tool used by listed companies to sell shares or other securities to qualified institutional buyers such as mutual funds.

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Only supporting, not a key player in Maharashtra: Rahul on 'Maha Vikas Aghadi'

Rahul Gandhi's statement could be a setback for the Uddhav-led govt in Maharashtra where hectic politics has been going on in the backdrop of coronavirus management

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RBI to mop up Rs80,000 via cash management bills to help govt's spending plan

MUMBAI: The Reserve Bank of India (RBI) on Tuesday said it will raise Rs80,000 crore by selling 84-day cash management bills (CMB) or short-term sovereign papers to help the government meet its immediate debt obligations. The auction is scheduled for 28 May and will be settled on T+0 basis on the same day. CMBs will mature on 20 August.

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Covid impact: Tech due diligence a must for M&As going forward

MUMBAI: Covid-19 is changing the way businesses function like never before, and due diligence on information technology requirements will become increasingly important for striking M&A and strategic deals and fund raising, experts feel.

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Maharashtra CM says Mumbai ready to fight monsoon blues

MUMBAI: Maharashtra chief minister Uddhav Thackeray on Tuesday said the country's financial capital is ready to face the challenges that the southwest monsoon will bring in its wake.

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Ola resumes cab services at Delhi, Mumbai, Bengaluru airports

Ride-hailing major Ola on Tuesday said it had resumed its services at Indira Gandhi International Airport in New Delhi, along with 21 other airports in the country, following recommencement of India's domestic passenger flight services this week.

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Mumbai's one of the oldest Ganpati Festival celebrations postponed to next year

Mumbai: A leading Ganesh mandal in Mumbai has decided to postpone its annual Ganpati festival celebrations this year in view of the COVID-19 pandemic. The 10-day festival begins on 'Ganesh Chaturthi', which is falling on August 22 this year.

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Glenmark to start trial of favipiravir combo drug for moderate covid-19 symptoms

NEW DELHI: Glenmark Pharmaceuticals Ltd on Tuesday announced that it will soon start a study to test the combined efficacy of two antiviral drugs--favipiravir and umifenovir--as a potential covid-19 treatment strategy.

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IIT Mumbai alumnus Rajiv Joshi, an IBM scientist, bags inventor of the year award

Prolific Indian-American inventor Rajiv Joshi has bagged the prestigious Inventor of the Year award in recognition of his pioneering work in advancing the electronic industry and improving artificial intelligence capabilities.

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Why Bharti Telecom’s decision to retire debt is good news for Airtel investors

MUMBAI: “Let no debt remain outstanding," says the Bible. Bharti Airtel Ltd’s promoters have decided to follow the principle by selling a small slice of their shareholding to retire the debt on their books.

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After Uddhav Thackeray Sharad Pawar meeting, Shiv Sena says 'govt is strong'

Mumbai: Maharashtra Chief Minister Uddhav Thackeray held a meeting with NCP president Sharad Pawar here, senior Shiv Sena leader Sanjay Raut said on Tuesday while asserting that the state government is "strong".

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Early-bird corporate earnings show rising pain points, downgrades to spike

MUMBAI: Early trends show that the Q4 earnings performance of most Indian companies has missed analysts' expectations, with indications that upcoming quarters may see more downgrades. Some of the pain ahead was visible in Q4 results as higher provisions and lower sales dragged profits.

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Eyeing higher automation, TCS launches AI workspace management solution

MUMBAI: Tapping into the rising demand for automation amid the covid-19 pandemic, Digitate, a software venture of Tata Consultancy Services (TCS), has announced the launch of ignio AI.Digital Workspace - an end-user experience management software that helps employees and service desk teams boost productivity.

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TVS Motor to cut staff salaries for six months

MUMBAI: TVS Motor Company Ltd, the maker of Apache motorcycles, has announced a cut in employees' salaries for six months, starting May.

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Covid-19: lend a helping hand to those in need

Donate money, volunteer your time—here are some ways you can contribute

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Turbulent take-off for airlines amid last-minute changes in schedules

NEW DELHI : Air travel got off to a chaotic restart with fewer than half the scheduled 1,095 flights taking off on Monday, leaving behind scores of angry travellers who had been waiting for nearly two months to get back home or to their jobs.

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Long queues, chaos, confusion as domestic flights resume

NEW DELHI/MUMBAI : For the first time in his life, Wasim Khan was not with his family in Dhanbad for Eid. He was to leave Delhi on Monday via Air India’s 7am flight to Ranchi, but at 3am, a masked man at the airport main gate told him flight AI 0417 had been cancelled.

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Bank of Baroda to move Karnataka HC to bar BR Shetty from selling assets

MUMBAI : State-run Bank of Baroda (BoB) plans to approach the Karnataka high court to restrain billionaire businessman B.R. Shetty from selling his assets, even those that are not pledged to the bank, said two people aware of the development.

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Karan Johar confirms two of his household staff test positive for Covid-19

Mumbai: Filmmaker Karan Johar on Monday announced that two members of his household staff have tested positive for COVID-19.

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Long lines and huge wait time, the new face of air travel

Chennai: The dream to make it big pushes not just the poor but even the rich from the comfort and cosiness of home to the grind of big cities. This for many means staying away from families for long stretches of time and that’s okay under normal circumstances, but not during a pandemic.

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Private equity ecosystem could be in for a shake-up

MUMBAI : The covid-19-led market disruption may clean up the private equity (PE) ecosystem, with some investors, especially smaller funds, shutting shop and bigger fund managers cornering a bigger share of the capital.

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Maharashtra creates jumbo medical centres as Covid-19 count crosses 50,000-mark

Mumbai: With the number of covid-19 infection cases crossing 50,000 in Maharashtra and 31,000 in Mumbai alone, Maharashtra Chief Minister Uddhav Thackeray said late on Monday evening that a couple of jumbo facilities have been created in Mumbai for treating covid-19 patients.

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Maharashtra's Covid-19 count breaches 52,000-mark, over 1,000 deaths in Mumbai

Mumbai: Maharashtra on Monday reported 2436 new covid-19 cases, taking the state's tally of coronavirus positive cases to 52,667.

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Covid's spread in Mumbai's slums is a warning for all cities

Even as India emerges from the lockdown, covid-19 is here to stay. Its rapid spread through Mumbai’s slums demonstrates how physical distancing protocols cannot apply to highly dense urban areas in India. In the coming months, Indian cities are likely to see this pattern repeated. They have a small window of opportunity to prepare, and can do so using several relatively straightforward measures, before the human and economic costs begin to mount.

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Taking a flight to Mumbai? New rules make 14-day home isolation mandatory

New Delhi: After allowing 50 domestic flights to operate on daily basis in Mumbai, the Maharashtra government on Monday issued Standard Operating Procedures for passengers of domestic flights. The domestic flight services resumed from Monday after a gap of two months owing to the nationwide lockdown.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0