Latest business news today

In this article, we will provide you with the latest business news. Read on.

India plans to decrease the number of state-owned banks

The government of India is working to raise money by selling the assets. The main idea is to have 4-5 banks owned by the government. The Reserve Bank of India also suggested that India should not have more than 5 state-owned banks.

A great initiative launched by OPPO to salute the COVID-19 heroes

OPPO is working on a series of videos to salute the Ultimate 20 with the Power of Change. It is a campaign that will showcase the COVID-19 heroes in India. It is an initiative to be launched in collaboration with Forbes India. It is a kind of token of appreciation and gratitude.

According to Amazon, the exports from India based sellers cross $2 Billion

Amazon launched its Global Selling Program in India. Amazon’s head Jeff Bezos, during his visit to India, said that the company would invest $1 billion in India. This will help small and medium businesses in digitizing. Amazon has also tied with Indian Banks. This helps in providing loans easily.

HDFC Bank reports a 4 % jump in profit in June

The HDFC bank reported a 19.5 % increase in profit as compared to last year. The shares of HDFC bank hit a high rate. The shares touched a high rate of Rs 1,142 that is up to 3.8% higher than early trading.

The index of the dollar rose 0.2% 

The rise in the Index of the dollar makes gold more expensive for other countries. The rise of coronavirus cases in the US is adding to the concerns of the recovery of the global economy.

The east-coast refinery of Indian Oil to remain shut for 3 weeks

The Indian oil east coast refinery to be shut for 3 weeks for maintenance. It will remain closed from July 25 to August 15. The last shutdown in the refinery was done in 2018. The refinery is located in the district of Jagatsinghpur.  

Shiv Nadar steps down as the Chairman of HCL  

The Co-founder of the HCL company stepped down from the position of the Chairman. His daughter Roshni Nadar Malhotra, will now take this position from July 17, 2020. Shiv Nadar continues to be the Managing Director of the company. HCL reported a 31.7 % rise in the net profit on year on year basis.

These are some top business highlights of today.