#Week2 4th May to 10th May Business News Summarised – 2020

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The US unemployment rate rises to 14.7%, the highest since the Great Depression

The labor market collapse has taken place with astonishing speed. The unemployment rate was a 5-decade low of 3.5 per cent as recently as February, and employers had added jobs for a record 113 months.

SIP flows are decreasing in March, folios are rising in April

The industry has added 1,93,761 accounts, bringing the total folio count to 3.13 lakh crore.

Loans from Indian banks rose by 6.7 per cent in two weeks to April 24:

Outstanding loans fell 693.40 billion rupees ($9.17 billion) in the two weeks to April 24, to 102.69 trillion rupees.

In May 1 week Indian government had Rs 1.66 lakh crore unpaid RBI loans

The central government earlier in the week had outstanding loans from Rs 1.12 lakh crore.

India may relax tax residency considerations

CBDT is investigating the matter and a statement on that would be ‘released early’

Adani Gas records a rise of 61 per cent in net profit in Q4

Adani Gas, who retails CNG to cars and piped natural gas to household kitchens and industries, saw sales volumes rise from 3 per cent to 145 million cubic meters, the company said in a statement.

Rupee settlements 18 more paises against US dollars at 75.54 higher

The rupee opened at 75.36 at the interbank foreign exchange, then paved some initial gains to finally close at 75.54 against the US dollar, showing an 18 paise improvement over its previous closing.

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