As the coronavirus pandemic is triggering fears of a global recession, foreign investors have started rowing back from the Indian capital markets by withdrawing a massive over Rs 1 lakh crore in March after remaining net buyers for six consecutive months. In order to contain the spread of coronavirus, lockdowns have become a norm the world over and have led the FPIs to adopt a cautious stance, market experts said.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
Rediff reader Stephen J, 50 from Chennai reveals how his life changed after he was fired from his job.
Major global indices - the Nasdaq, Bovespa, Seoul Composite, S&P 500, Dow Jones, S&P BSE Sensex, NYSE, DAX, Nikkei and, CAC 40 - have all gained 37 per cent to 75 per cent since their respective March 2020 low.
Indian economy is likely to rebound with an 8.9 per cent growth in the fiscal year beginning April 2021 after economic activity showed significant improvement in the last quarter, IHS Markit said on Friday. The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
P-note is, however, now not a preferred route for investing in India as Sebi has made registration easier and also desirable for FPIs.
Recent unemployment numbers shocked economists and sent the markets falling. Don't expect positive news for a long time.
Regional leaders in Bavaria and North Rhine Westphalia said on Monday that any league resumption would be without fans and that there would be no action before May 9.
They say that a stimulus package may not be necessary because, unlike last year's total lockdown, public transport, including the railways and airlines, is running and the restrictions on movement are localised and, in some cases, are partial rather than total.
Amid fears of double-dip recession, Finance Minister Pranab Mukherjee on Friday called for concerted action by G-20 nations to provide impetus to the world economy and deal with the related problems.
Hiring during a recession and leveraging a stable succession gameplan are just a few amongst many other things that this firm did right.
India's economy, estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a "stronger recovery" in 2021 and grow by 5 per cent, according to a UN report which said the country's current fiscal year budget points to a shift towards demand-side stimulus, with an uptick in public investment. The report, 'Out of the frying pan ...Into the fire?' published Thursday as an update to the Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD) said the global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020, thanks in part to a stronger recovery in the US, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending.
'We need to see more Indian Americans and people of colour hold elected office and serve in executive roles.'
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
I believe that the Indian IT industry has an opportunity to make further inroads into the US market during the slowdown phase of US economy, says Ashok Soota.
In 2010, Canada welcomed the highest number of permanent residents in 50 years, Jason Kenney, minister of citizenship, immigration and multiculturalism, announced on February 13.
He said the 'toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society' is stifling economic activity and growth.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Given below, in the table, are the estimated losses that some of the world's largest banks have suffered on account of home loan defaults in the US.
Indian wage growth was by far the most unequal.
The Chief Financial Officer of Washington DC, Natwar Gandhi, who is credited with turning around the financial fortunes of the US capital, on Monday said America needs to borrow more and spend more money in order to stimulate the economy.
A Citi strategist, Guillermo Felices, in a study has enumerated eight shocks that are hitting, or are soon going to hit, the global economy.
'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.
'Many Indians are not voting mostly on the basis of issues like the economy and their own well-being as measured by data provided by the government.' 'They seem to be as concerned and perhaps more concerned about other things, especially those that have to do with the harassment of India's minorities,' asserts Aakar Patel.
As the states showed progress in fighting the deadly contagion, governors Andrew Cuomo and Philip Murphy have begun to offer details on reopening in the months ahead.
Parliament reconvenes after a day of adjournment following the demise of former MoS external affairs E Ahmed.
'It is difficult to see how we will be able to get out of the hole that we have dug ourselves into and are digging deeper into,' notes Aakar Patel.
The biggest area of concern has to be the deteriorating labour market situation in the US.
The report says, the emerging markets continue to have uneven performance but India recovers from decelerating growth. Narendra Modi government, it added, continues business-friendly growth reforms, the economy grows at 6 per cent and the market rises 20 per cent.
The answer to that depends on whether the globe is able to contain the virus spread, says Samie Modak.
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
Thirty-five Union ministers on Friday huddled in a strategy meeting for an image make-over for the government on a day when Congress began its foot march against the land bill from the symbolical Bhatta Parsaul village.
US President Barack Obama on Thursday hailed the return of General Motors to the US stock exchanges, saying that one of the toughest tales of the global economic recession had taken a big step towards becoming a success story.
A big hit to China's growth or to Europe's financial system could certainly tip the global economy.
The value of India's inbound and outbound trade in goods is set to touch $550 billion in the 2010-11 fiscal, with imports expected to touch $350 billion, as against $288 billion in the 2009-10 fiscal.
During the pre-budget consultation with Union finance minister, some states made a case for fiscal expansion by boosting consumption to tide over the sluggishness in the economy.
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
Improvements in the labour market has triggered this sentiment.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
