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Business

Sensex Rises 114 Points; FMCG, Auto Stocks Rally

After rising to an intra-day high of 31,188.79, the 30-share index settled 114.29 points or 0.37 per cent up at 30,932.90. The broader NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25.
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World Bank Names Harvard Professor Reinhart as Chief Economist

World Bank Group President David Malpass said Carmen will boost efforts to restore growth and meet the urgent debt and recession crises facing many of the World Bank’s client countries.
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Business

Commerce Ministry for Anti-dumping Duty on Digital Printing Plates by China, Japan, 3 Other Nations

The Directorate General of Trade Remedies recommended the duty after concluding in its probe that there is a substantial increase in imports of digital offset printing plates from these nation in absolute terms.
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US Includes Huawei India in its Export Control Entity List

The Trump administration in recent months has increased its action against Huawei, preventing it from doing business in the US, as it believes the company known for its technological advancement in 5G is being used by the Chinese leadership in Beijing to serve their interest.
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Govt Extends Deadline to Fulfill Contractual Obligations by Up to 6 Months

The Expenditure Department had earlier said the COVID-19 outbreak would be considered a ‘force majeure’ situation, which refers to extraordinary events and circumstances beyond human control or a natural calamity, giving relief to companies which have contracts with the central government.
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Stimulus, Covid-19 Vaccine Hopes Drive S&P 500 to 10-week High

After surging about 34% from a multi-year low hit in March, the S&P 500 has traded in a tight range this month as investors weighed hopes of an economic recovery and fears of another wave of infection as states lifted restrictions.
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Sensex Crashes 1,069 Points; Bank, Auto Stocks among Worst-hit

The 30-share BSE index ended 1,068.75 points or 3.44 per cent lower at 30,028.98, while the broader NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
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Stimulus Package, New MSME Definition to Give Huge Boost to Industry: Gadkari

He urged the industry to maintain a positive attitude during these difficult times to tide over the present crisis as negativity is not in anybody’s interest.
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Business

Total Fiscal Impact of ‘Rs 20L Cr Stimulus Package’ to be Rs 1.50L Cr or 0.75% of GDP: Report

PM Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP. However, many of the measures unveiled have been in the form of moves like loan guarantees that do not entail an immediate fiscal cost.
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Raising FDI Cap to 74% in Defence Manufacturing Will be ‘Game Changer’: Rajnath Singh

In another initiative, the government has also decided to encourage domestic production of spare parts of military systems procured from defence majors abroad.