By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India has appealed to the country’s top court to let banks classify loans as nonperforming, saying a ban imposed to help borrowers in the COVID-19 pandemic could greatly harm the nation’s financial system. The central bank, in a filing to the Supreme Court late on Friday, […]
ANALYSIS ECONOMY Calls to ‘reglobalise’ as quickly as possible do not offer a desirable route out of this global recession. Rashmi Banga ECONOMY WORLD The pandemic has exposed the fault lines of the hyper-globalised world. The discontents of hyper-globalisation that began in the 1980s include high levels of inequality, rising concentration of rents, declining labour […]
By Reuters Staff BEIJING (Reuters) – China’s commerce ministry on Saturday issued rules on its proposed list of “unreliable entities,” part of an intensifying rift with the United States, saying it will target foreign firms and individuals endangering China’s sovereignty and security. After President Donald Trump’s administration imposed additional tariffs on Chinese goods and curbs […]
K-shaped recovery means the growing gap between ‘winners and losers’. An example in India is the stock market being healthy while millions have lost their jobs. TN NINAN Amidst the flood of commentary that followed the finding that the world’s fastest-growing large economy had become its fastest-shrinking one, an observation that stood out was that […]
India’s economy contracted by 23.9% in the three months to the end of June, making it the worst slump since 1996. A grinding lockdown brought on by the coronavirus pandemic has disrupted business and left millions out of jobs, reports the BBC’s Nikhil Inamdar. For the last five months, since India imposed one of the […]
India’s economy contracted by a whopping 23.9% in the first quarter of the 2021 financial year, in what is the latest sign of the toll that the COVID-19 lockdown has taken on economic activity. Mitali Mukherjee BUSINESS ECONOMY VIDEO India’s economy contracted by a whopping 23.9% in the first quarter of the 2021 financial year, […]
Manoj Kumar NEW DELHI (Reuters) – The government on Thursday asked state administrations to raise $32 billion in loans, as part of a proposal to cover a shortfall in fiscal receipts that could see a surcharge on the country’s luxury goods tax extended beyond 2022. The surcharge on luxury goods such as cars and tobacco […]
Official data released on Thursday showed that CPI for July rose 6.93% year on year, up from 6.23% in June, primarily on the back of rise in food and petroleum prices. Arup Roychoudhury ECONOMY New Delhi: Consumer Price Index-based inflation came in above the Monetary Policy Committee’s target band of 4 (+/-2)% for the fourth consecutive […]
Vivek Mishra BENGALURU (Reuters) – India’s retail inflation edged up slightly in July due to higher food prices, remaining firmly above the RBI’s medium-term target of 4% for a 10th straight month, a Reuters poll showed. A woman wearing a protective face mask and gloves waits for customers at her vegetable shop outside a slum […]
Jonnelle Marte (Reuters) – U.S. President Donald Trump’s weekend attempt to sidestep stalled congressional negotiations over the next coronavirus aid package will do little to boost the economy, experts said. Trump’s executive order and presidential memoranda, introduced on Saturday, would temporarily extend enhanced unemployment benefits at a reduced amount of $400 a week, defer payroll […]
