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Depleted household savings to slow down recovery: S&P

India’s economic recovery is expected to be “less steep” than the bounceback in late 2020 and early 2021 because households that are eating into their savings could hold back spends on consumption as the economy reopens, S&P Global Ratings said on Thursday. The rating agency, which projects the economy to grow at 9.5% in FY22, …

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Distribution of COVID-19 vaccines among States done in transparent manner: Centre

Allocation of COVID-19 vaccines to a State is done based on its population, caseload, utilisation efficiency and wastage factors, the Union Health Ministry on Thursday said. The Ministry said the allegations of non-transparent distribution of vaccines among States are “completely without any basis, and not fully informed”. It clarified that the Government of India continues …

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In Meghalaya, outrage over felling of heritage pine trees for road

The chopping coincided with an NGT ruling that construction of a road should not result in the destruction of biodiversity The felling of several iconic pine trees for widening a road in Meghalaya capital Shillong has triggered outrage, forcing the State government to intervene. Most of these coniferous trees, among the hill town’s USPs, were …

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Bright Health falls in debut on NYSE, valued at $10.6 billion

Bright Health Group’s shares fell more than 5 per cent in their New York Stock Exchange (NYSE) debut on Thursday, valuing the Tiger Global and Blackstone Group Inc backed health insurance startup at $10.6 billion. Compared with the initial public offering price of $18 per share, Bright Health Group’s stock opened at $17. Bright Health …

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RIL charts mega plan for clean energy biz

Reliance Industries Ltd (RIL) pledged to invest ₹75,000 crore in clean energy, becoming the latest oil company to announce a mega push into renewables as the environmental impact of fossil fuels comes under increasing scrutiny from investors and regulators. Chairman Mukesh Ambani said RIL will spend ₹60,000 crore on four so-called giga factories to produce …

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Pakistan PM Imran Khan discusses polio eradication drive with Bill Gate

Imran Khan spoke on telephone with Bill Gates, who serves as Co-Chair of the Bill & Melinda Gates Foundation Pakistan Prime Minister Imran Khan discussed the polio eradication campaign in the country with philanthropist Bill Gates on June 24. Mr. Khan spoke on telephone with Mr. Gates, who serves as Co-Chair of the Bill & …

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New York court suspends Rudy Giuliani’s law license

An attorney disciplinary committee had asked the court to suspend Mr. Giuliani’s license on the grounds that he’d violated professional conduct rules as he promoted theories that the election was stolen through fraud An appeals court suspended Rudy Giuliani from practicing law in New York on Thursday because he made false statements while trying to …

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