Business Today
Loading...

Biz EOD: Unemployment rate falls; ADB lends $1.5 billion to India; HSBC delays job cuts

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | April 29, 2020 | Updated 02:49 IST
Biz EOD: Unemployment rate falls; ADB lends $1.5 billion to India; HSBC delays job cuts
Top stories from the world of business and economy

India's unemployment rate fell to its lowest point during the coronavirus lockdown. Asian Development Bank has sanctioned a $1.5 billion loan to India to support immediate priorities including disease containment and prevention, along with social protection for the poor and economically vulnerable sections. HSBC has put on hold layoffs under its restructuring programme in view of the coronavirus crisis. Read for more news from the world of business and economy:

1. India's unemployment rate falls to 21.1%, lowest during coronavirus lockdown: CMIE

The unemployment rate fell to 21.1 per cent in the week ended April 26, lowest during the coronavirus lockdown period, according to the Centre for Monitoring Indian Economy.

2. Axis Bank results: FY20 profit plunges 65% to Rs 1,627 crore on higher provisions, one time DTA charge

In Q4 FY20, Axis Bank reported a net loss of Rs 1,387.78 crore versus net profit of Rs 1,505.06 crore for the corresponding period last year, due to higher provisioning amid coronavirus pandemic.

3. Coronavirus outbreak: $1.5 bn loan aims to provide support to Indian people, says ADB

The $1.5 billion loan has been sanctioned with a view to support immediate priorities including disease containment and prevention, along with social protection for the poor and economically vulnerable sections.

4. Coronavirus outbreak pushes HSBC to put 35,000 job cut plan on hold

Last week too, HSBC had said that it's moving ahead with the plans outlined in February to shift capital from under-performing businesses, reduce costs and strip out layers of management.

5. BSE revises norms to allow India oil prices to trade in negative

The BSE said the features shall be enabled in the simulation environment and made available to members and vendors to test from May 4, 2020, onwards.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close