Remember, the security of your job primarily depends on two major factors -- how relevant you are for the organisation and how the organisation is aligned to its stakeholders (investors, clients and employees)
Remittances to India are likely to drop by 23 per cent from USD 83 billion last year to USD 64 billion this year due to the coronavirus pandemic, which has resulted in a global recession, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the pandemic and shutdowns, according to a World Bank report on the impact of the Covid-19 on migration and remittances released on Wednesday.
Downing Street confirmed that the two senior-most United Kingdom government officials had received notification from the Metropolitan Police that they would be given "fixed penalty notices".
The U.S. economy is also interdependent and in many ways dependent. Especially on oil. In a week where the Nymex price for a barrel of crude reached $111 this really should be apparent. Yet this does not seem to have deterred the recklessness driving the U.S. fiscal outlook.
While Defence Minister Rajnath Singh spoke about the consensus, Parliamentary Affairs Minister Pralhad Joshi said there is no need for a separate discussion in Parliament on the Pegasus issue during the budget session.
If the initial analysis of this YJ-21 is correct, then China becomes the first country in the world to operationally field such a missile from a naval vessel.
Bajaj Finance was the top loser in the Sensex pack, tanking over 10 per cent, followed by Axis Bank, Maruti, M&M, Tech Mahindra and ONGC. The gainers included ITC, Bharti Airtel, Kotak Bank and Hero MotoCorp.
The first part of the Budget Session of Parliament is likely to end on February 13 instead of February 15, sources said on Friday, underling that the total number of working days would however remain the same.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Growth in the region is expected to average 4.6 per cent for the year, a downward revision from the "Global Economic Prospects 2002" forecast of 5.3 per cent GDP growth.
Bajaj Finserv was the top gainer in the Sensex pack, rallying around 7 per cent, followed by Bajaj Finance, HDFC, L&T, ICICI Bank, Sun Pharma and NTPC. On the other hand, Tech Mahindra, ITC and M&M were the laggards.
Fireworks and music broke out across the country after the 3-2 shootout win
'In the first phase, you might allow 30 per cent of the workforce to come in and see how it goes,' says industrialist Harsh Goenka.
The government told an all-party meeting Monday that it does not intend to bring any legislative business in Rajya Sabha during the first part of the Budget Session which is till February 11, sources said.
Even as both India and the world struggle to re-build after COVID-19, they face slow-burn problems that could develop into full-blown crises, observes T N Ninan.
The global financial meltdown has pulled down India's economic growth to 6.7 per cent during 2008-09 from about 9 per cent a year ago. During the current fiscal, as per the Planning Commission estimates, growth rate may fall to 6.3 per cent.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
She is believed to be the oldest British victim of coronavirus, which has so far killed over 1,000 people in the UK and infected over 17,000.
Economic growth is likely to plummet to a multi-decade low of 1.6 per cent in fiscal year 2020-21 due to the Covid-19 pandemic and ensuing measures like lockdowns and social distancing, an American brokerage said on Wednesday in one of the bleakest forecasts on GDP yet. Indian policymakers have not been aggressive enough in their response till now to the crisis, and will need to eventually intensify their efforts, economists at Goldman Sachs said.
The Congress on Monday strongly criticised the Union budget, saying Finance Minister Nirmala Sitharaman's speech was oblivious to the declining GDP and the budget was a case of "wrong diagnosis and prescription".
Analysts, however, predict it would be an uphill climb for export-reliant China's economy going forward as it faced intensified conflict with the US and the negative fallout on its external trade due to Beijing's increasingly aggressive policies towards countries like India resulting in bans of its products and services.
Pakistan's National Assembly resumed its crucial session on Monday after a two-day recess where Opposition is likely to formally table the no-trust motion against embattled Prime Minister Imran Khan amidst fluid political situation in the country.
The first phase of the session yielded a total of seven sittings of the Lok Sabha and eight sittings of the Rajya Sabha, the ministry said.
The Confederation of Indian Industry (CII) on Thursday said it believes that India-US bilateral economic ties would be a high priority for President Joe Biden-led administration in America. "The Indian industry feels that with President Biden and Prime Minister (Narendra) Modi at the helm, the two countries would play a strong role in re-shaping the global economic agenda together," CII president Uday Kotak said. Congratulating Biden on assuming charge as the 46th President of the US, Kotak said, "President Biden's experience in re-building the US economy during the Great Recession would help strengthen the US and global economic recovery in the aftermath of the pandemic."
By 2020, rice prices would rise by 13 per cent, wheat by 15 per cent, and maize by 27 per cent, it said, adding that in the past few months, the prices of major cereals have fallen by about 30 to 40 per cent as a result of the economic slowdown and favourable weather conditions, but they remain high compared to the rates three years ago. Many developing regions have experienced high economic growth in recent years.
'When growth drops precipitously from 7% to 4.5% in four quarters, it is for all practical purposes a recession' notes T N Ninan.
Though COVID-19 and the subsequent lockdown left a trail of economic devastation on most countries, India can potentially build upon three positive aspects - push in the rural economy, stronger federalism and a huge consumption base, former RBI Governor Duvvuri Subbarao Rao has said. In his foreword on a Telugu book titled "Maandhyam Mungita Desam" (Nation in Recession) authored by Tummala Kishore, he said the challenge for the government in the months and years ahead is clear: to put the economy back on a healthy growth trajectory and ensure that growth is inclusive, with lower income households too enjoying the benefits of rapid growth.
Oscar winners, festival favourites, massy entertainers, all-time classics, Sukanya Verma offers plenty to pick from on OTT this week.
They have also called for giving cash to the poor, so that demand is generated in the economy.
Issues such as the economy's health and the government's ability to produce an environment where jobs are available are not of particular concern to us as voters, asserts Aakar Patel.
For the current fiscal which ends on March 31, it put the real GDP estimate at 5 per cent. It estimated a 7 per cent growth in 2022-23 and 2023-24 fiscal years. The inflation rate was seen moderating to 4.4 per cent in the next fiscal from 4.7 per cent in the current.
'Doing Badhaai Do made me realise that a simple act of loving and marrying the person I want is, unfortunately, a privilege when it should be a right.'
'It doesn't matter where you come from. If you strongly believe in your idea and we see potential in scaling it up, there are people to back it up.'
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
While the US-Iran conflict leading to a spike in global oil prices and trade war between the US and the EU topped the chart with 25 per cent, other major risks to the global economy include coronavirus, debt burdens causing a recess across emerging markets and Hong Kong protests causing an exodus from Asia's biggest financial centre.
It is impossible for anyone to explain how markets are hitting record highs during an economic recession. It is both mysterious and surreal, notes Debashis Basu.
Or is all of media being re-invented, asks Ajit Balakrishnan.
'No one in Sri Lanka could afford to stay at home, everyone came onto the street.'
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
'If the epidemic is sharply contained in a month or two, we have a huge buying opportunity. 'If not, we are staring at a serious economic crisis, the contours of which we are totally unaware of,' warns Debashis Basu.
