Page 11 - Economic Slowdown

MEA likely to brief foreign envoys on India's Covid-19 response next week

The Ministry of External Affairs might brief foreign envoys and diplomats on Nov 6 on India's response to Covid-19 as well as its road map to recover from the pandemic's economic impact

UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

China's domestic jet fuel demand back to near pre-coronavirus levels

Domestic aviation fuel sales amounted to about 2 million tonnes (523,300 barrels per day) last month

As demand picks steam in Sep, Indian economy's animal spirits soar

Economists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak

States will need years to recover from 'scissor effect' of Covid: RBI

Phenomenon refers to loss of revenues due to demand slowdown, coupled with higher expenditure associated with pandemic, may push the states to great strife

India economy on verge of slow recovery as worst is over, says PHDCCI

The PHDCCI drew the conclusions based on its analysis of 25 high-frequency economic indicators which point out that there has been a pickup in business normalization

Indian economy set for a near double-digit contraction this fiscal: Poll

With over 7.6 million coronavirus infections, India is the second worst hit country in the world after the United States and the spread shows no signs of abating

Asian stocks gain on US economic stimulus package hope, yuan surges

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.56%. Australian stocks edged up by 0.1%, while shares in China rose 0.07%. Tokyo shares gained 0.4%

How will Modi govt handle revenue deficit without raising income-tax?

Next year's Budget will reflect many difficulties sprung by the coronavirus pandemic and many countries' currency-printing spree to keep employment high

This year's Dussehra fails to bring cheer to Ravana makers of Delhi's Tatarpur

The year 2020 has been an unusual one, given the severe coronavirus health crisis facing the entire world

Going, going, gone: Covid boosts online art auctions despite slowdown

There is never a bad time to buy art -- or sell it -- even if the economy is floundering and even when there is a pandemic

Don't bet just yet on Bangladesh as South Asia's economic champion

Bangladesh might overtake India this year by per capita income in nominal dollars, but it is not yet close to becoming South Asia's economic powerhouse anytime soon. T N Ninan explains why

World experiencing worst recessions since Great Depression due to Covid: WB

World Bank President David Malpass said that given the extent of the economic contraction, there was a rising risk of disruptive debt crises in countries

Asian shares mostly higher after US rally, economic aid package hopes

Asian shares were mostly higher in muted trading on Monday, as worries about the pandemic kept optimism in check despite a rally that closed out last week on Wall Street. Investors growing wary over upcoming earnings reports have been cashing in recent gains, helping pull Japanese shares lower. Tokyo's benchmark Nikkei 225 index lost 0.3% to 23,543.95. Big exporters logged some of the largest losses, with Toyota Motor Corp falling 0.6% and Honda Motor Co shedding 1.8%. Japan reported core private sector machinery orders edged 0.2% higher in August, contrary to forecasts for a decline. But overall, economic indicators remain weak. Other regional benchmarks were rising. South Korea's Kospi gained 0.6% to 2,406.87. Australia's S&P/ASX 200 inched up nearly 0.2% to 6,113.40. Hong Kong's Hang Seng jumped 1.3% to 24,434.17, while the Shanghai Composite added 1.7% to 3,325.98. While US politics remain centre stage, a string of Asia releases and monetary policy meeting decisions will be ...

Can't extend loan moratorium as it may affect credit discipline: RBI to SC

RBI said, a long moratorium exceeding six months can impact the credit behaviour of borrowers and increase the risks of delinquencies post resumption of scheduled payments

UK's Rishi Sunak expands help for some lockdown-hit firms as recovery wanes

A resurgence of the pandemic has forced Prime Minister Boris Johnson to consider new containment measures and is threatening to derail an economic recovery that has already started to wane

Car makers drive in top-of-the-line models in defiance of slowdown

Buyers have been lapping up new model launches, show booking and sales trends

S&P Global sees US, European corporate default rates doubling in 9 months

LONDON (Reuters) - The COVID-19 shock will double company default rates across the United States and Europe over the next 9 months, ratings agency S&P Global said on Tuesday, although it noted that the record downgrade pace of recent months was now slowing.

Asian shares mixed after Trump calls off stimulus talks to boost economy

Stocks were mixed in Asia despite an overnight decline on Wall Street after President Donald Trump ordered a stop to talks on another round of aid for the economy

IMF urges infrastructure investment to boost post-coronavirus growth

The full Fiscal Monitor will be presented at the IMF and World Bank annual meetings