Day: February 27, 2020

Asian stocks slide deeper as pandemic fears grow

By Tom Westbrook

SINGAPORE (Reuters) – Oil and Asian share markets extended losses on Thursday as the rapid global spread of the coronavirus kept investors on edge and seeking safety in gold and bonds.

Rising fears of a pandemic, which U.S. health authorities have warned is likely, had already wiped more than $3.6 trillion from global stock markets by Wednesday’s close.

China accounts for about 96% of cases and has instituted dire containment methods that have paralysed global supply chains.

But most new infections are now being reported elsewhere, with news on Thursday of a jump in cases in South

No new taxes in Gujarat budget; focus on education, health

No new taxes were proposed in the Gujarat budget for 2020-21, presented by the BJP government on Wednesday, which saw a healthy allocation of Rs 31,955 crore for education, Rs 11,243 crore for health and Rs 7,423 crore for the agriculture sector.

The Rs 2,17,287-crore budget for the next fiscal has an overall surplus estimates of Rs 275 crore. In the budget presented on the first day of the assembly session, Deputy Chief Minister Nitin Patel, who also
holds the finance portfolio, proposed to reduce electricity duty for shops and offices, cold storages, religious places and dharmshalas, giving benefits of

DHFL dues: Fixed deposit holders set to move NCLT

DHFL is undergoing insolvency proceedings at NCLT, Mumbai, after getting admitted on December 2, 2019.

By Ankur Mishra

The fixed deposit (FD) holders of Dewan Housing Finance (DHFL) will move the National Company Law Tribunal (NCLT), Mumbai, after its committee of creditors (CoC) refused any immediate relief in clearing dues, a lead petitioner in the matter, Vinay Kumar Mittal, told FE.

In a CoC meeting held on February 20, the authorised representative of FD holders raised the demand for payment to FD holders, especially in case of medical emergencies, and proposed that the evaluation matrix should include a statement as