Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
These images prove we live in a mad, mad world.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
At the end of October, Sri Lanka President Maithripala Sirisena handed over the deeds for the transfer of 116 hectares in Colombo Port City to China Harbour Engineering Company on a 99-year lease to build a financial centre.
It is our only chance of avoiding a repeat of our catastrophic second wave, asserts Naushad Forbes.
At present, Indian indices are under-performing as compared to others and a package from the government can help cover the ground.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.
'Markets are not prepared for a slowdown as the current expectation is of the continuation in earnings momentum.'
'Transformation of Ukraine into some kind of permanent strategic challenger, which Russia would have to contain and deter, spend a significant part of political and strategic resources on it.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
Modi was seen drumming his fingers rhythmically while Xi keenly watched the show.
India's e-commerce market is poised to grow by 84 per cent to $111 billion by 2024 on the back of accelerated adoption of digital technologies amid the COVID-19 pandemic, a report by fintech firm FIS said on Wednesday. The report noted that countries, including India, have seen a shift in consumer behaviour caused by COVID-19, and new payment trends are shown to be on the rise. FIS, in its 2021 Global Payments Report, examined current and future payment trends across 41 countries. India's e-commerce market is projected to grow by 84 per cent between now and 2024 to about $111 billion (from about $60 billion in 2020) driven by mobile shopping, which is projected to grow 21 per cent annually over the next four years, the report said.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Tamil star Suriya's 7aum Arivu was about a virus from China sent to Chennai to wreak havoc while Kaappan was about a locust attack the hero prevents in time -- both films in a sense foresaw what was to come, observes N Sathiya Moorthy.
After a long hiatus of more than 20 months, the government had on November 26 announced the resumption of scheduled international commercial flights from December 15.
'In India, there's currently evidence the Centre has not managed a smooth vaccine rollout.' 'It is now falling back on blaming states, which are facing vaccine shortages,' points out Devangshu Datta.
The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
Why did we go into nationwide lockdown when we were adding 100 cases a day and why are we not going into lockdown but allowing cricket stadiums, political rallies and Kumbh Melas when we are adding 40,000 cases a day? asks Aakar Patel.
The president said he had discussed with Prime Minister Modi on when the US would be able to send actual vaccines to India.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
Reliance Industries Ltd (RIL) was the star performer in Friday's session, spurting over 6 per cent to its all-time high, Other Sensex gainers included Bajaj Finance, PowerGrid, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, IndusInd Bank, HCL Tech, ITC, M&M HDFC and Infosys shed up to 2.94 per cent.
'The lockdown was for both: To flatten the curve or more correctly, delay the rapid spread of COVID outbreak, and to create healthcare infrastructure.'
Alert to the looming threat from the 'Omicron' variant, states began to re-tighten curbs and urgently trace people who arrived from abroad in the last one month while a demand to not allow flights from the affected countries was made by Delhi Chief Minister Arvind Kejriwal and Karnataka Chief Minister Basavaraj Bommai.
These 10 images below it's a mad, mad world.
Thousands of Chinese fans lined the streets on Friday to greet David Beckham and the Spanish champions.
Before the game, a few protesters handed out fliers outside the stadium where Man City played local outfit Kitchee.
'Slower-than-anticipated recovery can be a bigger risk this time than a liquidity-driven event -- at least for India.'
The Modi government wants to have a smooth relationship with the DMK government.
The boats, two from China's southern Guangdong Province, were lost on Sunday as they attempted to navigate gales near the disputed islands called Xisha by China and Paracel by Vietnam Islands about 330 km from China's island province of Hainan, Chinese officials in Hainan said.
... As the world swings from 'financialisation' to 'artificial intelligence', asks Ajit Balakrishnan.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
The broader NSE Nifty rose 47.50 points, or 0.43 per cent, to 11,105.35. During the day, it climbed a peak of 11,141.75 and touched a low of 11,049.50.
'From March 2020 to November 2021, the combined wealth of the billionaires of this country has doubled.'
Pakistan would want to take full advantage of the situation to direct Taliban trained terrorists into the Kashmir Valley, alert Lieutenant General Ashok Joshi (retd) and Colonel Anil A Athale (retd).
'The Ever Given, which had 200,000 tonnes of cargo, was too long for the Suez Canal.'
Prime Minister Narendra Modi congratulated shuttlers Saina Nehwal and K Srikanth for their victories at the China Open Super Series tournament on Sunday.
Here are the top 10 images from the big news that shook the world in the previous week.
A feature of 'Third World-ism' is lack of accountability. Whether and how the Modi government is held to account politically is a matter for the future, observes T N Ninan.
Made-in-China phone brands are eating away market share of prominent firms like Nokia and Samsung
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