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Chairman of India’s largest mortgage lender HDFC Ltd, Deepak Parekh in his annual letter to shareholders has questioned the Supreme Court’s decision to bring the Reserve Bank of India (RBI) to clarify on issues relating to the loan moratorium. Deepak Parekh said that the incident was “indeed unfortunate” while he lauded the central bank for shouldering a huge burden to maintain financial stability while a pandemic wreaked havoc across the country. The veteran banker’s comments Read More

Asian stock markets followed Wall Street higher Thursday as hopes for development of a coronavirus vaccine competed with concern about rising US infections. Benchmarks in Shanghai, Tokyo, Hong Kong and Australia all advanced. Investors were encouraged after Pfizer and BioNtech announced preliminary data from a vaccine test, one of a series being carried out by global developers. At the same time, the populous American states of California and Texas reported daily record highs in new Read More

Jet fuel or ATF price on Wednesday was hiked by 7.5 per cent, the third increase in a month, while petrol and diesel rates were unchanged for the second day in a row. Aviation turbine fuel (ATF) price was hiked by Rs 2,922.94 per kilolitre (kl), or 7.48 per cent, to Rs 41,992.81 per kl in the national capital, according to a price notification by state-owned oil marketing companies. This is the third straight increase Read More

After a one-day break on Sunday, retail prices of petrol and diesel went up again on Monday. Diesel was priced at Rs 80.53 per litre in the national capital while petrol was at Rs 80.43 per litre. Diesel had touched an all-time high of Rs 75.79 a litre on June 17 while petrol in Delhi has remained lower than its high of Rs 84 per litre touched on October 4, 2018. The prices have been Read More

Pakistan’s Karachi Stock Exchange was attacked by four gunmen on Monday morning killing at least 10 people. The attack on Pakistan’s stock exchange building sent the Karachi Stock Exchange 100 (KSE 100) index down 220 points as investors heard the news of the attack. However, a few hours after the attack was thwarted the KSE 100 staged a sharp recovery and was seen surging 398 points from the day’s low. The KSE 100 surged to Read More