Recovery

Sri Lanka's recent economic performance has been strong, but the recovery remains incomplete, the World Bank said on Tuesday. "With growth still below pre-crisis levels and poverty significantly elevated, strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, it said. Sri Lanka's economy crashed in 2022 due to a forex crisis stemming from the COVID-19 pandemic and other flawed political and economic management reasons since 2019. The current turnaround was aided by the four-year IMF bailout of nearly 3 billion USD pinned to a stringent reform regime. While Sri Lanka's recent economic progress is encouraging, the recovery is uneven and incomplete, said David Sislen, World Bank Division Director for Maldives, Nepal, and Sri Lanka. The World Bank projects Sri Lanka's economy to grow by 4.6 per cent in 2025 supported by a modest rebound in industry and steady growth in services before

Demand uptick seen in pockets, sectors

The Kolkata-based lender has inducted several senior management officials in the recent past, hence fairly new to the bank

The Indian economy could see another bout of inflation as the rural demand revives and the informal sector recovers from the pandemic-lows, economists at HSBC Securities and Capital Markets said

For the third consecutive year, South African Tourism finished another extremely successful partnership with South Asia's premier travel exhibition, SATTE 2023

Number of pending notices was up 31% to 2,872 at the end of FY22, from 2,193 the previous year

Vehicle registrations, aviation numbers are worse than before

Beyond the case, the decision also has demonstrative effect for sternly dealing with other big-ticket defaults, two senior officials with large banks said in a first-cut assessment.

Power generation, vehicle registrations dip

Railways showed a moderation in freight growth numbers

Mobility indicators show more people at transit spots like bus and train stations

Soaring input costs have been chipping away the profit margin of the real estate sector. Now with the rise in interest rate, homes will get costlier. Will these put brakes on the sector's recovery?

Airlines see more passengers, railway numbers show gains

But recovery in average daily rates remains some distance away

Impact of second wave on operations was lower than what street had estimated

The company''s gross NPAs jumped to six per cent of the gross advances in quarter ended June 30, 2021, from 2.7 per cent by end of June 2020, mainly on account of impact of second wave of Covid-19.

In the third instalment of a four-part series on how some of the defining numbers in key sectors are springing back to the pre-pandemic level, Ishita Ayan Dutt looks at India's metals industry

Silicon Valley-based company says strong leadership that puts people first will continue to be critical

A 56 per cent stock uptick since December caps upside

There will be need of a new template of globalisation - based on fairness, equality and humanity - in the post-Covid world, Minister of State for External Affairs V Muraleedharan has said