Moody's on Thursday raised India's GDP forecast for the calendar year 2020 upwards to -8.9 per cent contraction from -9.6 per cent contraction forecast earlier. Similarly, India's GDP forecast for the calendar year 2021 has been revised upwards to 8.6 per cent from 8.1 per cent projected earlier. The report released by Moody's Investors Service attributed the reason behind better growth to the falling of coronavirus cases in the country.
He was hailed as the next big thing when he shocked five-time world and two-time Olympic champion, Lin Dan in the final of China Open Super Series Premier event, a performance that also held out promise of a medal at the Rio Olympics.
It stands to reason that at the meeting on Friday, Pope Francis conveyed to the Kremlin, some message in regard of the developments in Ukraine. The long duration of the meeting in the Russian embassy flags that it was substantive. Indeed, it took place even as the first Russian tank column was sighted on the outskirts of Kyiv, notes Ambassador M K Bhadrakumar.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
'While growth will bounce back from the current sub-5 per cent, it will stay lower than the already inadequate long-term average of 6.6 per cent,' notes T N Ninan.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
There were speculations regarding Dhoni's participation in this year's T20 World Cup in Australia, which was postponed to 2022 due to the global health crisis.
From its March 2020 low, Bitcoin has gained a massive 474 per cent and has surged 214 per cent year-to-date.
'Investors should reduce cash gradually and look for value investing.'
'I have very little faith in economists who tell me that demonetisation will reduce growth.' 'The greater effect of demonetisation is if it creates changes in the financial services system and gets people to shift from cash.' 'The economy is not a trained monkey that will jump around if you lower rates.'
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
Days after keeping India's rating at lowest investment grade for 13th year in a row, the rating agency in a webinar said despite the contraction in GDP this year, the country continues to be an outperformer among the peer groups.
From convincing film-makers to do shows for online, to having a slate with some of the best films and shows, Amazon Prime Video has come a long way since it came to India four years ago.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
From Neeraj Chopra to Harbhajan Singh to Saina Mirza, India's top sportsperson mourned the passing away of one of the country's biggest sporting icons.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
Now we must first compete with Bangladesh. This is not what we had been promised, notes Aakar Patel.
"We are facing a global health crisis unlike any in the 75-year history of the United Nations -- one that is killing people, spreading human suffering, and upending people's lives. But this is much more than a health crisis. It is a human crisis," Guterres said.
'Despite uncertainties around demonetisation and the GST, we expect Indian equities to deliver positive returns.'
India's badminton doubles specialist N Sikki Reddy on Saturday heaved a sigh of relief after returning negative for COVID-19 barely two days after testing positive for the contagious disease, saying she was "shocked" by the not-so-kind reactions her initial result attracted.
The last 15 days have turned the life of young Afghan television anchor Beheshta Arghand upside down.
'Aggressively stepping up vaccinations will constitute the most enduring stimulus of all in the coming quarters,' observes Sajjid Z Chinoy, Chief India Economist at J P Morgan.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
'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.'
The minutes of the December MPC meet reveal members felt the current spike in the headline inflation rate was due to a temporary supply shock on the food front, expected to moderate by the second quarter of 2020-21.
Considering the dangers of importing dogs from other states for consumption and also in line with the Prevention of Cruelty to Animals Act, 1960, the state cabinet took the decision.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
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.
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
Former Union minister Suresh Prabhu would be India's Sherpa at the 14th meeting of the world's top economies in Osaka, Japan.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
'A day before the concert, my friend and I were loitering on stage admiring its grandness.' 'Suddenly, we realised there were some people on stage.' 'It came as a shock when we realise that it was Chris Martin and Sachin Tendulkar.' 'We went numb.'
'This is a period of significant uncertainty, of unknown unknowns.'
Chen scores world record for massive lead over shocked Hanyu
Wistron, which earlier pegged the losses at Rs 437 crore, later notified the Taiwan stock exchange that the total losses were around Rs 50 crore.
