Tough times never last, only tough people and tough institutions do, Reserve Bank governor Shaktikanta Das said last month. This phrase could well be expanded to include tough countries too. India is a tough, survivalist country and we will surely beat back the coronavirus pandemic. We have many extreme challenges to overcome in the next few weeks and months. […]
The Covid-19 pandemic has injected an unprecedented amount of uncertainty into the global economy, as countries across the world battle growing infections, implement wide-ranging social-distancing strategies and attempt early fiscal interventions to stabilise markets. Top 10 most resilient countries, according to the 2019 Global Resilience Index 1. Norway 2. Denmark 3. Switzerland 4. Germany 5. […]
The government has retrospectively extended the validity of e-way bills under the Goods and Services Tax (GST) regime that would have expired between March 20 and April 15 to April 30. Also, in a move that will ease the working capital requirements for businesses, the government has deferred the implementation of 10 per cent restriction […]
Last month the Goods and Services Tax (GST) Council announced a hike on mobile phone taxes from 12% to 18%. Due to this revision, phones were to get more expensive in the country. Smartphone brands like Apple, Xiaomi, Samsung, Poco and Realme have now taken the hike into consideration and have started announcing the new […]
Sydney: Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus of crude. Futures in London fell as much as 7.6% to the lowest since November 2002, while New York crude briefly dipped below $20 a barrel. Physical oil markets […]
Revival of the Indian real estate sector, one of the largest employment generators, seems to have hit another brickwall in the wake of the panic generated by the spreading coronavirus, the rising death toll and an economy in temporary lockdown. Many had been looking forward to 2020 heralding the return of buyers for commercial and […]
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an online press briefing. With […]
Moody’s Investors Service has slashed its estimate of India’s economic growth forecast to 2.5% during 2020 calendar year from an earlier estimate of 5.3% amid the rising economic cost of the coronavirus pandemic. Moody’s said it expects the growth to bounce back to 5.8% in the calendar year in 2021 and expects a gross domestic […]
European markets surge at open London’s FTSE rose 2.8% in opening deals, while CAC index in France jumped 4.4% and Germany’s DAX index advanced nearly 6%. KNR Constructions halts all operations The infrastructure development company said it has temporarily suspended operations across all locations to prevent the spread of coronavirus. The company also said it […]
Agencies Mumbai: India’s rupee weakened to a new low and stocks slumped anew amid a global meltdown in risk assets, with rising number of coronavirus cases locally adding to anxiety. Sovereign bonds also declined. The rupee declined as much as 1.1% to 75.0562 per dollar to go past the key 75 mark for the first […]