Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
'The structural story of India is a multi-decadal story.' 'One should stay invested in that story and avoid reacting to what is happening globally.'
India's exports registered a steepest decline in 13-month falling 9.3 per cent in August to $34.71 billion due to global economic uncertainties, while the trade deficit soared to a 10-month of $29.65 billion. According to the government data released on Tuesday, imports increased by 3.3 per cent to $64.36 billion, which is a record high, due to a significant jump in the inbound shipments of gold and silver.
The recession scare is back with the United States' economy plunging into another grave crisis.
Union Commerce and Industry Minister Anand Sharma has warned countries trying to introduce protectionist measures that this would not only be counter-productive, but also deepen the recession and delay recovery.
How the global recession will affect immigration policy in America.
A look at actors who made and lost money during the last two years.
The economic costs now beginning to show up in the hard numbers are far worse than initial expectations.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
The total number of demat accounts in the country stood at 171.1 million as of August 31.
Moody's expects growth in G-20 advanced countries to be stable at 1.8 per cent for 2016.
'There are 725,000 Indians here without proper papers. They are subject to deportation immediately under this (Trump's immigration plan). Immediately!' 'They want to prevent new immigration, get the people who are already here out of here, and only allow population increases in the white population.'
The real economy, he said, is now going to enter into quite serious recession, "But if you do the right things, then you could see how you could come out of that recession." In an interview with ABC News, he agreed that the United States would have less power in the world and perhaps American citizens would have less money in the pocket as a result of the crisis.
'Despite the current uncertainties, the long-term outlook remains constructive due to strong fundamentals, government initiatives, and a stable banking sector.'
Call it the urge for double income or a stress buster, most sites have seen higher registrations during downturns.
Declaring that 'enough is enough', President Droupadi Murmu on Wednesday said it is time for India to wake up to the 'perversion' of crimes against women and counter the mindset that sees women as 'less powerful, less capable, less intelligent'.
Finance professionals in America consider that the country is still in recession, despite the economy showing signs of stability in recent months, a latest report has found.
Russia has overcome recession but this does not mean that economic crisis in the country is over, Prime Minister Vladimir Putin said on Tuesday.
"Indian travellers would be aware of recent disturbances in some parts of the United Kingdom. The High Commission of India in London is closely monitoring the situation," reads the message entitled 'Advisory for Indian Citizens Visiting the UK.'
The world is slowly, but surely, coming out of the quagmire...the recession is finally showing signs of retreating.
The world's largest economy, the US, is now in recession for 18 straight months, one of the longest since the 1930s Great Depression, amid rising hopes of an early economic revival.
S&P Global Ratings on Wednesday lowered India's economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic. The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
If you are an expert in programming languages, statistics and algebra, then a career in AI and ML is worth a shot in 2021.
'Forget your loss or profit in your portfolio.' 'Look at how much cash you have in hand.' 'If you don't have cash in hand, liquidate at least partially; get into about 20 per cent in cash.'
The National Bureau of Economic Research has declared the recession that started in December 2007 ended in June 2009.
"I see a third to fourth of a chance of a double dip (in the US economy)," noted American economist and former chairman of the Federal Reserve of the United States, Alan Greenspan, said while addressing an audience through video-conferencing during an award function in Mumbai on Wednesday.
The row over the appointment of Bharatiya Janata Party leader and seven-term member Bhartruhari Mahtab as the pro-tem speaker is likely to cast a shadow over the session.
With recession altering the way people view their careers, more employees are now preferring to stick to a single job, which offers security, amid a perceived dearth of job opportunities, says a global survey.
Global economic recession that had affected the world "will soon be a forgotten word, at least in India," renowned industrialist N B Godrej said.
The number of visa applicants to US has gone down significantly due to global recession, a senior American consular affairs official said.
Soccer is at least one business that hasn't been sidelined by the recession.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
Fearing the "inevitable" global recession following the US financial meltdown, Japanese Prime Minister Taro Aso said the magnitude of the turmoil was increasing in "seriousness" and wanted the international community to make "concerted efforts" to tackle the crisis.
Venture capitalist and Silicon Valley tycoon, Kanwal Rekhi, on Saturday said that recession is the best time to be an investor and an entrepreneur.
"India and China are the two countries which have showed growth," he said in Ahmedabad. "India has high positive growth and it is faced not with recession but a slowdown," he added.
The probability of a global recession is low, even though the United States is growing slowly and Europe is experiencing negative growth, Reserve Bank of India Governor D Subbarao said on Friday.
The economy contracted by 1.5 per cent between October and December, more than the quarterly declines seen during the recession in the 1990s. The last quarter decline came on top of a 0.6 per cent slump in the third quarter of 2008. Two or more consecutive quarters of contraction are regarded as a recession.
The more forward-looking survey data show significant deterioration. The Philadelphia Fed Index has dropped to -30.7, a level only observed previously during or on the cusp of a recession.
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