Home Tag "economy"

Indian economy could revive sooner than expected

India’s economy will spring back to normal sooner than expected and may even make a sharp V-shaped recovery in the next financial year, two top finance ministry officials said, dismissing forecasts of a sharp contraction in GDP in the current fiscal. Monetising of the fiscal deficit by the RBI was not currently on the table, […]

China’s services sector grows at fastest pace in over a decade in June: Caixin PMI

China’s services sector expanded at the fastest pace in over a decade in June as the easing of coronavirus-related lockdown measures revived consumer demand, a private survey showed on Friday, though companies continued to shed jobs. To read more: https://www.reuters.com/article/us-china-economy-pmi/chinas-services-sector-grows-at-fastest-pace-in-over-a-decade-in-june-caixin-pmi-idUSKBN24405F SOURCE: REUTERS (0)

After COVID-19, Can China Still Become ‘Moderately Prosperous’?

2020 was supposed to be a triumphant year for China and the Chinese Communist Party (CCP). The country was set to finally transform into a xiaokang shehui – rendered in English as “moderately prosperous society.” Gross domestic product (GDP) and disposable income would be double what they were in 2010, and no Chinese citizens would be living […]

China’s Economy Faces Another Hurdle: Darkened Movie Theaters

To the long list of obstacles holding back the Chinese economy when the world needs it most, add one more: padlocked movie theaters. The country’s more than 12,000 cinemas have remained stubbornly closed. Reopening them is politically difficult, as the order to keep them shut came from none other than Xi Jinping, China’s top leader. […]

Unemployment rate declines sharply as India exits lockdown

India’s labour market showed surprising strength in the second week of June, restoring many jobs that were lost to the economic upheaval caused by the nationwide lockdown, and offering some substance to the hope that the worst may be over. The national unemployment rate fell sharply to… To read more: https://www.livemint.com/news/india/unemployment-rate-declines-sharply-as-india-exits-lockdown-11592249924927.html (1)

China’s industrial engine revved strongly in May, but consumption weak as slow recovery continues

China reported strong growth in its industrial engine for the month of May, as the economy continued to slowly recover from the effects of the coronavirus pandemic, data released on Monday showed.In May, China’s industrial production, a gauge of manufacturing, mining and utilities sector activity, grew by 4.4… To read more: https://www.scmp.com/economy/china-economy/article/3089036/coronavirus-chinas-industrial-engine-revved-strongly-may SOURCE: SCMP (2)

PENJANA’s ‘Shop Online Malaysia’ is part of Cashless Adoption Campaign

Sean Goh, Managing Director of Grab Malaysia  On behalf of Grab, we are excited about and supportive of the Pelan Jana Semula Ekonomi Negara (PENJANA) by the government. As a homegrown tech enabler and proponent of the digital economy, we are honoured to be a part of the government’s Shop Online Malaysia and cashless adoption […]

Malaysia’s Short-term Economic Recovery Plan

By Amarjeet Singh, EY Asean and Malaysia Tax Leader On 5 June 2020, the Prime Minister unveiled the RM35 billion Short-Term Economic Recovery Plan (“Plan”). This Plan was unveiled against the backdrop of a pessimistic global economic outlook and a steep decline in Malaysia’s economic growth projections for 2020, from 4.8% to -2% to 0.5%. […]

China’s industrial profits drop 4.3% in April, slower pace than March

Profits of China’s industrial firms above designated scale contracted in April but at a slower pace than last month, with more than half of the sectors seeing growth, suggesting domestic production is being gradually resumed amid the COVID-19 pandemic. China’s industrial firms earned 478.14 billion yuan ($66.95 billion) in April, down 4.3 percent on a […]

Software Fills In For India-Based Compliance Teams In COVID Lockdown

The COVID-19 crisis has exposed a lot of unfamiliar reliance on globalization and outsourcing, but regulatory compliance? With India on a severe lockdown, banks that had outsourced a lot of their compliance work to India find it can’t be done — the staff can’t go into the office and often the internet is too weak […]


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