IKEA India FY20 loss widens to Rs 720 crore; net sales up 65% : Bulletin: Business Today
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IKEA India FY20 loss widens to Rs 720 crore; net sales up 65%

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Rashi Bisaria | December 26, 2020

Auto industry to see stronger growth in 2021-22: Nomura

The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the COVID-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2022-23, it added.

New Covid-19 strain may cause more hospitalisations, deaths: Study

The year 2021 is expected to arrive on a grim note as the new COVID-19 strain discovered in the UK is expected to lead to a surge in hospitalisations and deaths due to its higher transmissibility rate. Scientists have also requested the governments across the world to ensure expeditious roll out of COVID-19 vaccine in their respective countries to prevent more deaths.

PM Modi releases Rs 18,000 cr under PM-KISAN; asks what's wrong if farmers are benefitting

Amid farmers' protests at Delhi borders, Prime Minister Narendra Modi via a video conferencing on Friday released Rs 18,000 crore to more than 9 crore farmer families from different parts of the country under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). PM Modi said the farm bills will allow farmers to sell their produce to anyone and anywhere.

IKEA India FY20 loss widens to Rs 720 crore; net sales up 65%

Furniture retailer IKEA India has closed financial year 2019-20 with net loss of Rs 720.1 crore compared to a loss of Rs 685.4 crore in FY19, as per the regulatory document. IKEA is also investing in the online system and has the ambition to reach 100 million Indian customers by 2022 through its omnichannel approach.

China suspends UK flights indefinitely over new COVID-19 strain fears

China will suspend direct flights to and from Britain indefinitely over fears of the new strain of the coronavirus, Wang Wenbin, a foreign ministry spokesman said on Thursday. "After much consideration, China has decided to take reference from other countries and suspend flights to and from UK," Wang told reporters at a daily briefing.

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