Business highlights

Following are the top business stories at 1910 hours: DEL54 BIZ-LD TIKTOKTiktok shuts down India business but continues to engage with governmentNew Delhi: China's ByteDance will shut its India business and cut the 2,000-plus employees to a bare minimum over the uncertainty in making a comeback following a ban on its hugely popular TikTok video app in the country, the company told employees in an internal memo on Wednesday.

DEL44 BIZ-LD STOCKSSensex tanks 938 pts; Nifty crashes below 14,000-levelMumbai: The BSE benchmark Sensex crashed 938 points to slip below the 47,500-mark and the NSE Nifty plunged below the psychological 14,000-level due to rampant selling across counters amid foreign fund outflow.

DEL46 BIZ-LD RUPEERupee settles 2 paise higher at 72.92 against US dollarMumbai: The rupee edged higher by 2 paise to settle at 72.92 against the US dollar on Wednesday, ahead of the outcome of the US central bank's meeting.

DEL32 BIZ-DR REDDYS-STUDYDr Reddy's terminates Kuwait-based COVID-19 treatment study New Delhi: Dr Reddy's Laboratories on Wednesday announced termination of Avigan trial study being conducted in Kuwait that was focused on moderate to severe COVID-19 patients in a hospital setting.

DEL22 BIZ-PETROL-PRICE-HIKEBranded petrol crosses Rs 100-mark in Rajasthan; Fuel prices at all-time high New Delhi: Branded or premium petrol price crossed Rs 100-mark in Sriganganagar town of Rajasthan as petrol and diesel prices were hiked on Wednesday for the second consecutive day.

DCM55 BIZ-FDIFDI into India up 37 pc to USD 43.85 bn during Apr-Nov 2020New Delhi: Foreign direct investment (FDI) into India increased by 37 per cent to USD 43.85 billion during April-November 2020, according to data by the commerce and industry ministry. DCM53 BIZ-TAX-REFUNDI-T refunds worth Rs 1.81 lakh cr issued so far in FY21 New Delhi: The Income Tax Department on Wednesday said it has issued over Rs 1.81 lakh crore worth refunds to more than 1.74 crore taxpayers so far this fiscal year. DCM39 BIZ-IT-NICSIIT minister to launch 'Work from Anywhere' portal, Tejas Virtual Intelligence tool at NICSI eventNew Delhi: IT and Communications Minister Ravi Shankar Prasad will launch virtual intelligence tool Tejas and 'Work from Anywhere' portal at an event on Thursday, according to an official release.

DCM26 BIZ-FINMIN-RLB GRANTFinMin releases Rs 12,351 cr to 18 states for RLB grantNew Delhi:The Finance Ministry on Wednesday said it has released Rs 12,351 crore to 18 states for providing grants to the rural local bodies.

DEL29 BIZ-GOLD-PRICE Gold declines Rs 231; silver tanks Rs 256New Delhi: Gold in the national capital declined Rs 231 to Rs 48,421 per 10 gram on Wednesday, according to HDFC Securities.