Rural consumption better placed during Covid-19 pandemic, shows data

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An EcoScope report of Motilal Oswal Financial Services says that while urban consumption declined 18 per cent year-on-year

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Rural consumption | Coronavirus


While the is holding on to its previous year level, the urban consumption has declined massively in the first two months of the second quarter of this fiscal year.


An EcoScope report of Motilal Oswal Financial Services says that while urban consumption declined 18 per cent year-on-year, was almost flat (+0.1 per cent YoY) in July-August of 2020-21.




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Indiabulls Housing Finance sells more stake in OakNorth for Rs 220 crore

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on Friday said it had sold a portion of its stake in OakNorth Holdings, the parent company of OakNorth Bank, for Rs 220 crore. The lender has been gradually selling its stake in the UK-based bank (OakNorth Bank), too.


In the past couple of months, it had sold parts of its stake in OakNorth Bank to US-based Riva Capital Partners for about Rs 441 crore, TEMF, a fund managed by Toscafund Asset Management, for around Rs 630 crore and to HighSage Ventures, a Boston-based investment firm for Rs 440 crore.



The mortgage lender has said the proceeds will be used to bolster the capital adequacy ratio of the lender. After the latest stake sale, the company has raised a total of Rs 2,493 crores in fresh equity in September and October.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals

Fastest-ever Growth In Global Virus Cases As US Tops 8 Million

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Coronavirus cases in the United States topped eight million Friday as the world saw the highest-ever number reported in a single day, while European countries tightened measures to control the pandemic’s spread.

The running US case tally from Johns Hopkins University is the highest in the world, followed by India at 7.4 million cases and Brazil with 5.1 million.

America has also suffered the most coronavirus deaths of any country, at over 218,000.





The curfew in Paris and eight other cities will start at 9pm
 AFP / THOMAS COEX

Worldwide, more than 400,000 new cases were reported on Friday alone, according to an AFP tally based on official data — a figure only partly explained by increased testing since the first wave of the pandemic in March-April.

Across Europe, the average number of daily infections leapt 44 percent in a single week to over 121,000.

“It’s terrible. It feels to me like being back in March,” said Hocine Saal, head of the emergency service at the hospital in the Paris suburb of Montreuil, adding that rising numbers of non-coronavirus patients made coping “really difficult”.



Sanna Marin was forced to leave an EU summit to self-isolate


Sanna Marin was forced to leave an EU summit to self-isolate
 POOL / JOHANNA GERON

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