Page 65 - Economy

Japan's stimulus package spending to hit record $488 bn due to Covid blow

Japan's new stimulus package will include record spending of about $488 billion due to huge payouts to cushion the economic blow from the COVID-19 pandemic

Pakistan's rupee falls to record low after delay in IMF deal

The rupee weakened 0.9 per cent to close at 175.73 a dollar Friday, according to State Bank of Pakistan data

Japan cuts economic view after key indicator falls to lowest in a year

The government on Monday lowered its assessment of the index to "weakening" from "improving" in its first downgrade since August 2019

We'll never know whether demonetisation was a disaster or a boon

In the end, it's clear that the note ban decision threw up only two clear winners: politically, the BJP and commercially, the digital economy

Inflation in Pakistan will continue to rise for next 6 months: Report

Inflation in Pakistan is on the rise and it has triggered countrywide protests by the opposition and people

China's economic growth weakens amid construction slowdown

China's economic growth sank in the latest quarter a a slowdown in construction and curbs on energy use weighed on its recovery from the coronavirus pandemic. The world's second-largest economy grew by 4.9% over a year ago in the three months ending in September, down from the previous quarter's 7.9%, government data showed Monday. Factory production, retail sales and investment in construction and other fixed assets all weakened. Construction, an industry that supports millions of jobs, has slowed since regulators tightened control last year over borrowing by developers. One of the biggest, Evergrande Group, is struggling to avoid defaulting on billions of dollars owed to bondholders. That has fuelled fears about the health of other developers, though economists say the threat to global financial markets is small. Manufacturing also was hampered in September by power cuts imposed by some major provinces to avoid exceeding official efficiency goals. Private sector forecasters hav

Is India looking at a V or W-shaped economic recovery in FY22?

If one looks at year-on-year growth, the recovery is V-shaped after the first quarter because of 20 per cent economic expansion

Credit to retail, industry accelerates in August, slows in services sector

Loans for farming and allied activities continued to perform well, up 11.3% this August from 4.8% a year ago

Mayawati slams BJP govt in UP, says people suffering due to unemployment

Bahujan Samaj Party (BSP) supremo Mayawati on Sunday has slammed the Uttar Pradesh government and said the people are suffering due to increasing poverty, unemployment and inflation.

Covid may push India growth model from consumption driven to investment-led

The Covid-19 pandemic could act as an inflection point to shift India's growth model from being consumption driven to investments-led.

Shanghai encourages 'duty-free economy' as part of consumer push

Duty-free spending in China is largely concentrated in Hainan, where the annual limit on individual duty-free spending was hiked to 100,000 yuan last year from 30,000 yuan previously.

Recent uptick in bank credit growth augurs well for economy: RBI study

The uptick in the credit growth in the recent months notwithstanding the second COVID-19 wave augurs well for the economy, said an article published in the RBI's latest bulletin.

9.5% growth projection for whole year seems on track: RBI Dy Governor Patra

Reserve Bank will remain in surplus mode and the liquidity management framework will continue in absorption mode, he added

UNCTAD projects Indian economy to expand to 4-year high of 7.2% in 2021

This is against a contraction of 7% in 2020; UN body sees India outpacing all other major economies in the next year even though the growth would be slower, at 6.7%

Google says it offers $10.25 bn in consumer benefits in S Korea annually

Google on Wednesday said it offers around 12 trillion won (US$10.25 billion) in economic benefits for South Korean consumers annually through its services

India needs $8 trn in greenfield assets to become $5 trn economy: Deloitte

Says country can aim to attract greater FDI into seven capital-intensive sectors that have contributed $181 billion of merchandise exports in FY21

Recovery tracker: Office visits slip; retail and recreation up a bit

Power generation & traffic point to limited activity than before

Supreme audit institutions can become partners in evaluating economy: CAG

Supreme audit institutions can become valued partners in objectively evaluating resourcesand effectiveness of public expenditure to provide insight for optimising public finance management

Go ahead and reinvent your career. you'll have plenty of options

Declines in automobile and new home sales, combined with the rise of services like Uber, led to a belief that in the future people would be less attached to buying things

Afghanistan's economic crisis deepens as airlift winds down

Hundreds of Afghans protested outside a bank in Kabul and others formed long lines at cash machines as a UN agency warned that a worsening drought could leave millions in need of humanitarian aid