Page 31 - Economic Crisis
Gripped by greed, emerging markets turn to the US Fed for next spur
Bloomberg's Fear-Greed indicator for the MSCI developing-nation stock gauge climbed to its highest in almost a decade, a sign that gains may have been excessive
 "Gripped by greed, emerging markets turn to the US Fed for next spur")
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
Budget Byte: Boosting consumer demand will be crucial task for Sitharaman
Pent-up or not, demand yet to fully recover from the pandemic impact
 "Budget Byte: Boosting consumer demand will be crucial task for Sitharaman")
US facing historic crises again, says Treasury secy-nominee Janet Yellen
The United States is facing economic crises again and it is essential to move with urgency, Treasury Secretary-nominee Janet Yellen said
 "US facing historic crises again, says Treasury secy-nominee Janet Yellen")
US economy could shrink as coronavirus surges: Fed Reserve Bank Prez Kaplan
Dallas Federal Reserve Bank President Robert Kaplan said the economy could shrink this quarter as consumers in more states and cities pull back from economic activity amid the record coronavirus surge
 "US economy could shrink as coronavirus surges: Fed Reserve Bank Prez Kaplan")
Next big shift in global economic policy takes shape under Covid-19 shadow
Financial markets, where bond vigilantes were once reckoned to exert a powerful check on deficit-spending governments, are ready to lend them money at very low interest rates
 "Next big shift in global economic policy takes shape under Covid-19 shadow")
Despite crises, India fixes its gaze on Sushant Singh Rajput's death
Covid-19 is rippling through the country. The economy is reeling. But for many Indians, an actor's death and the investigation that followed are a bigger story
 "Despite crises, India fixes its gaze on Sushant Singh Rajput's death")
Covid-19: India's fiscal response to tackle the economic crisis wanting
Till August 2020, India has spent 1.2% of its gross domestic product directly from budgetary resources
 "Covid-19: India's fiscal response to tackle the economic crisis wanting")
IMF says Covid-19 economic crisis 'far from over', more support needed
The IMF has provided emergency funding to 75 countries, including 47 low-income countries, and said it was ready to provide further support to a wider range of middle-income countries
 "IMF says Covid-19 economic crisis 'far from over', more support needed")
Debt recast, demand pick-up to help overcome mismatch in cash flow: Ind-Ra
The rating agency said, "It expects capital market instruments to continue to be serviced, given the diversified nature of holdings and different class of investors"
 "Debt recast, demand pick-up to help overcome mismatch in cash flow: Ind-Ra")
Economic contraction in India an opportunity for long-term investors: Wood
Chris Wood expects the recently concluded quarter to mark the bottom of the economic contraction
 "Economic contraction in India an opportunity for long-term investors: Wood")
India's fiscal deficit crosses full-year budgeted target in four months
Net tax receipts were Rs 2.03 trillion, while total expenditure was Rs 10.5 trillion
 "India's fiscal deficit crosses full-year budgeted target in four months")
Australia Q2 business investment slide not as bad as feared, plus for GDP
Australian business investment fell by less-than-feared last quarter and future spending plans remained surprisingly intact in a hopeful sign economic recession may not be as deep as forecast earlier
 "Australia Q2 business investment slide not as bad as feared, plus for GDP")
PSBs to do Covid heavy lifting, will soon need capital support: Experts
Fitch Ratings estimates that under a moderate stress scenario, Indian banks are around $15 billion short of the capital required to meet a 10 per cent weighted-average common equity tier 1 ratio.
 "PSBs to do Covid heavy lifting, will soon need capital support: Experts")
PM Modi, Trudeau discuss need to strengthen multilateral institutions
The two leaders agreed that the India-Canada partnership can help in advancing in humanitarian values in the global discourse in the post-COVID-19 world
 "PM Modi, Trudeau discuss need to strengthen multilateral institutions")
Covid-19 deepens Argentina's economic crisis; WB predicts 7.3% fall in GDP
The World Bank foresees a 7.3% contraction in Argentina's gross domestic product this year, one of the worst recessions in Latin America
 "Covid-19 deepens Argentina's economic crisis; WB predicts 7.3% fall in GDP")
Maharashtra to announce Covid-19 relief package soon: Deputy CM Ajit Pawar
The Deputy CM said that there is a slight increase in the number of Covid-19 cases in some areas of rural Maharashtra
 "Maharashtra to announce Covid-19 relief package soon: Deputy CM Ajit Pawar")
Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs
Berkshire Hathaway sold 84 per cent of its Goldman Sachs stock in the first quarter, marking a reversal for an investor who generally holds large stakes in the banking sector.
 "Covid-19 crisis: Warren Buffett cuts crisis-era bet on Goldman Sachs")
Covid pandemic could fuel fresh interest in diaspora bonds: World Bank
World Bank officials warned that developing economies could suffer close to 3% decline in economic output
 "Covid pandemic could fuel fresh interest in diaspora bonds: World Bank")
World economy faces steepest contraction; recovery U-shaped: Economists
In a Reuters poll, more than 55% or 87 of 155 economists said the global economic recovery would be U-shaped