city Mumbai: Latest News

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20.05.2020 / 16:26

Covid-19: Maharashtra plans to allow film and TV industry resume business

MUMBAI : Maharashtra Chief Minister Uddhav Thackeray, on Wednesday, said that the state, which is the home to Bollywood film industry, is open to work on a plan to allow resumption of the entertainment industry if it agrees for a limited number of filming or post-production processes and strictly follow physical distancing rules within a restricted environment.

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With 2,250 fresh cases, Maharashtra's Covid-19 count breaches 39,000-mark

The number of novel coronavirus cases in Maharashtra today crossed 39,000 after 2,250 more patients were reported positive of the highly contagious virus since Tuesday. The state's Covid-19 count now stands at 39,297 since the outbreak, according to the state health department.

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Jaypee Infratech resolution behind bulk of banks' Jan-Mar recoveries under IBC

MUMBAI: The last quarter (January-March) of financial year 2019-20 was quite fruitful for banks in terms of stressed asset resolution and recovery under the Insolvency and Bankruptcy Code (IBC), realising 64% of their dues. This was primarily led by ₹23,223 crore coming from the resolution of Jaypee Infratech Ltd.

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TCS top management takes pay cut as part of cost optimization measures

MUMBAI: IT services behemoth Tata Consultancy services (TCS) has said its CEO and MD Rajesh Gopinathan's remuneration shrank 16.5% to ₹13.3 crore in 2019-20 compared to the previous fiscal.

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Sebi directs companies to tell investors impact of covid-19 on businesses

MUMBAI: Securities and Exchange Board of India (Sebi) on Wednesday asked companies to tell investors the impact of covid-19 on their businesses. Listed entities should endeavour to ensure that all investors have access to timely, adequate and updated information, Sebi said in a circular. Companies will now have to evaluate and disclose impact of the pandemic on their performance and financials, both qualitatively and quantitatively, the capital markets regulator said.

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Abu Dhabi’s ADQ launches $300 million venture fund for Southeast Asian startups

MUMBAI: ADQ, formerly Abu Dhabi Developmental Holding Company, on Tuesday said it has launched a new venture capital fund, Alpha Wave Incubation Fund, worth AED 1.1 billion ($299.5 million) to invest in early-stage businesses in Southeast Asia.

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Coronavirus: BMC adding 100 hospital beds daily to deal with increasing number of patients

Anticipating a spike in the number of coronavirus cases, Brihanmumbai Municipal Corporation (BMC) in Mumbai is adding 100 beds daily in its hospitals, a senior official said Wednesday. BMC expects the covid tally to breach the 35,000 mark by the time lockdown 4.0 ends on 31 May, even as the doubling rate of patients has slowed in last few weeks.

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Future group appoints Ambit to seek buyers for logistics arm

MUMBAI: Future Group has launched a formal process, giving the mandate to investment bank Ambit, to seek buyers for the group's stake in its logistics business-- Future Supply Chain Solutions Ltd (FSC)--as founder Kishore Biyani looks to tackle his debt problems, said two aware of the development.

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L&T Infotech soars 8% after upbeat March quarter results

MUMBAI : Shares of Larsen & Toubro Infotech surged 7.7% on Wednesday after the company reported a 4.7% sequential rise in revenue in constant currency terms for the March-ended quarter.

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MUMBAI: US private equity giant KKR & Co. Inc. has emerged as the front-runner to buy a 51% stake in JB Chemicals and Pharmaceuticals Ltd, which manufactures popular over-the-counter drugs rantac and metrogyl. Two persons confirmed that the companies are in discussion.

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MUMBAI: Shares of Tata Power jumped 6.9% after the company reported a two-fold year-on-year ump in its January-March consolidated net profit to ₹475 crore.

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Lockdown: India's renewables capacity addition lowest in 2 years in Jan-Mar

MUMBAI: India added 715 MW and 328 MW of utility scale solar and wind capacity respectively in the quarter ended March, marking the weakest sequential growth in two years. For fiscal 2019-20, utility scale capacity addition was 7,408 MW, 34% below the high of two years ago and well below the government target, according to renewables market research firm and consultancy Bridge to India.

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Technology, govt entities most targeted by cyber-attackers in 2019: Report

MUMBAI: The tech and government agencies were the most targeted by cyber-attackers across the world in 2019 despite efforts by organisations to layer up cyber defences, according to technology services provider NTT’s 2020 Global Threat Intelligence Report (GTIR).

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2,078 new coronavirus cases reported in Maharashtra as of 8:00 AM - May 20

This brings total cases to 37,136, out of which 9,639 have recovered and 1,325 have passed away

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RWAs block easing of restrictions for households across the country

Many RWAs are denying entry to domestic help, electricians and plumbers despite easing of restrictions

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Mumbai braces for monsoon ailments amid raging covid-19

BMC has started preparing for the monsoon by ramping up bed capacity at public and private hospitals

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NBFCs more vulnerable to covid than banks: Moody’s

MUMBAI : Disruptions caused by the covid-19 pandemic will lead to further worsening of asset quality of non-bank financiers, a segment that is more exposed to the downturn than banks, Moody’s Investors Service said on Tuesday.

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2,100 new coronavirus cases in Maha, 1,202 discharged: Rajesh Tope

MUMBAI : Maharashtra on Tuesday reported 2,100 new coronavirus patients, taking the number of cases in the state to 37,158, Health Minister Rajesh Tope said.

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Maharashtra's Covid-19 count crosses 37,000-mark, death toll at 1,325

With 2,127 new cases reported in Maharashtra on Tuesday, the state's coronavirus count reached 37,136.

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Household contacts at greater virus risk

Early-stage evidence from cases in Shenzhen finds at least one in nine household contacts at risk of being infected by first carrier

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Why India needs more than liquidity dreams

MUMBAI : Liquidity is the latest elixir in town. Finance minister Nirmala Sitharaman used the term about 40 times in the five presentations she made to the media between May 13-17 to lay out the ₹20-trillion economic package. Not surprisingly, a significant portion of the package ( ₹20.97-trillion to be exact) served up liquidity—and not fiscal stimulus as businesses and investors were expecting.

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Bajaj Finance has 27% of loanbook under moratorium, avoided benefit to riskier customers: MD Rajeev Jain

MUMBAI : Bajaj Finance Ltd has 27% of its loanbook under the three-month moratorium but has not allowed the deferment to customers with a high probability of default, said its managing director Rajeev Jain.

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India’s current account may turn surplus on coronavirus, Barclays says

NEW DELHI : India is on course for a rare current-account surplus as the coronavirus pandemic roils demand for imports, according to Barclays Plc.

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Maharashtra allows more shops to reopen, puts fresh curbs on people movement in lockdown 4.0

State government says that except for containment zones, from 22 May all other areas within red zones can keep both essential and non-essential shops open

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After four months, India resumes purchases of Malaysian palm oil, say traders

The renewed purchases come amid improving trade relations between the two countries after the formation of a new government in Kuala Lumpur

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Biggest single-day spike of new Covid-19 cases in Karnataka; Mandya new hotspot

Bengaluru: The sugarcane growing region of Mandya, about a 100 kms from Bengaluru, accounted for 71 out of the total 149 Covid-19 positive cases reported in Karnataka on Tuesday. This is the highest single-day jump in new cases.

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Covid-19: Maharashtra creates new workforce as migrant laborers leave the state

Maharashtra CM Uddhav Thackeray said the government has prepared about 5.87 lakh workers for 19 different types of businesses in order to resume economic activities and provide livelihood to public of the state

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WCF launches cyber safety portal for students

MUMBAI : Global Business process management (BPM) service provider WNS launched CyberSmart, a holistic cybersafety learning ecosystem for education and empowerment of students, teachers, volunteers and parents through its Corporate Social Responsibility (CSR) arm WNS Cares foundation (WCF).

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Blackstone backed Embassy REIT sees drop in rent collections in April

MUMBAI : With the covid-19 disrupting economic activity and cash flows for businesses, American private equity firm Blackstone-backed Embassy Office Parks REIT, India's first listed real estate investment trust, on Tuesday reported that it was able to collect only 92% rent due for the month of April.

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Bajaj Finance consolidated profit drops 19% in Q4 on covid-19 provisions

Mumbai: Consumer durables lender Bajaj Finance Ltd on Tuesday reported a 19.4% year-on-year (y-o-y) decline in consolidated net profit to ₹948.1 crore owing to covid-19 provisions of ₹900 crore.

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Franklin effect: Massive redemptions push MFs towards inter scheme transfers

MUMBAI : Credit risk funds, which saw a 35% dip in assets under management (AUM) after Franklin Templeton mutual fund shut its six debt schemes, have been managing redemptions by transferring debt paper to other schemes within the same organisation.e organisation.

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Coronavirus: 26 more test positive for covid-19 in Dharavi, tally rises to 1,353

As no new COVID-19 death has been reported in the last 24 hours, the number of fatalities stood at 56 so far

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Cleanliness survey: Navi Mumbai Rajkot, Indore among 5-star garbage free cities

NEW DELHI : The Centre Tuesday declared Navi Mumbai, Rajkot, Surat, Mysore, Indore and Ambikapur (Chhattisgarh) as '5-star garbage-free cities'.

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Lockdown easing: Tata Motors-Fiat Chrysler JV unit resumes production

MUMBAI: Fiat India Automobiles Pvt Ltd (FIAPL), a manufacturing joint venture between Tata Motors Ltd and Fiat Chrysler Automobiles India Pvt Ltd (FCA), has resumed operations at its passenger vehicle and engine production plant at Ranjangaon, near Pune.

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Rupee closes 25 paise higher at 75.66 against US dollar

MUMBAI : The rupee rose 27 paise or 0.36% to close at 75.64 against the US dollar on Tuesday as initial success in coronavirus vaccine trial boosted investor sentiment globally.

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Lockdown: Nasscom launches free AI, online courseware for upskilling

MUMBAI: Nasscom in partnership with Ministry of Electronics and Information Technology (MEITY) on Tuesday launched an on-demand Artificial Intelligence (AI) courseware. This is aimed at enhancing AI readiness among the people in the country, especially in the backdrop of challenges thrown by covid-19 and the lockdown.

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US-China trade war to boost real estate investments in India: Report

MUMBAI : Despite coronavirus induced economic crisis, India will continue to see higher opportunities for real estate investment as the US-China trade war will influence cross-border activity for many years regardless of the US leadership, according to a report published by Savills, a real estate consultancy firm.

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COVID-19 advisory for flats in Mumbai: No need to seal entire building

Maharashtra's COVID-19 count surged past 35,000 today. The state added over 2,000 fresh coronavirus cases in last 24 hours. Mumbai alone accounted for over 21,000 COVID-19 cases. The total number of coronavirus cases in the state rose to 35,058.

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Adani refutes Snowman promoter's claims on stake sale

Mumbai: Adani Ports & Special Economic Zones Ltd, whose acquisition of controlling stake in Snowman Logistics Ltd hit a hurdle, has refuted claims made by promoters of the cold chain logistics company regarding the stake sale.

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Tag, you are it! India’s banks find themselves holding one too many risks

MUMBAI: In the game of tag, it is rather unpleasant to be it. Indian banks are finding themselves being tagged with one too many risks and the anxiety among their investors is evident.

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Why private coal mining will not help stressed power plants

MUMBAI : Finance Minister Nirmala Sitharaman’s announcements over the weekend to allow commercial mining in India’s coal production and remove the government monopoly is unlikely to provide an immediate relief to stressed thermal power companies even as they benefit from improved coal linkages in the long run.

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Lockdown: India sees sharp dip in office hardware peripherals demand, says IDC

MUMBAI: Following the disruption in supply chain and demand shock due to covid-19, the hard copy peripherals (HCP) industry saw demand decline quarter-on-quarter (QoQ) in January-March by 16.5% - the sharpest ever.

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2,005 new coronavirus cases reported in Maharashtra as of 8:00 AM - May 19

This brings total cases to 35,058, out of which 8,437 have recovered and 1,249 have passed away

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Key metros scramble to reopen as nationwide lockdown curbs ease

Telangana allowed all business outside containment zones to reopen from Tuesday, including in capital city Hyderabad

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Maharashtra CM says the state plans to stop covid-19 transmission before monsoon

MUMBAI : Maharashtra chief minister Uddhav Thackeray on Monday said that the state government is attempting to control the transmission of covid-19 pandemic in the state before the onset of monsoon.

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Maharashtra may emulate Kerala model in its covid-19 fight

MUMBAI : Maharashtra may take lessons from Kerala in its fight against the covid-19 pandemic, Health Minister Rajesh Tope said today.

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With over 2,000 fresh cases, Maharashtra's Covid-19 count crosses 35,000-mark

With 2,033 fresh novel coronavirus cases in last 24 hours, Maharashtra's Covid-19 count breached 35,000-mark today to reach 35,058 total cases in the state since the outbreak, according to the state health department data. This includes 25,392 active cases in the state so far.

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Tata Motors offers easy financing option, special benefits for Covid-19 warriors

Covid-19 warriors can drive home the entry-level model Tiago with customised EMI plan starting at just ₹5,000 every month for 6 months. This EMI amount then gradually increases over a maximum tenure of 5 years

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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