Home Tag "economy"

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 […]

‘It all feels a little off’: Caution as post-virus China reopens

Millie Yang had been self-quarantining at home in Beijing with her 11-year-old son for several weeks when the youngster begged to be taken to hospital. “I’ve got the virus,” he said through tears. “I can’t breathe.”  His fear of COVID-19 had been mounting in recent days and Yang suspected he was having a panic attack… […]

IMF says India’s growth rate could top 7% in 2021 if the coronavirus outbreak is brought under control

Image by Prasanta Sahoo from Pixabay If India can bring the coronavirus outbreak under control, its growth rate could bounce back to over 7% again in 2021, according to the International Monetary Fund’s mission chief for India. During its virtual spring meeting, the IMF predicted India would grow 1.9% for the fiscal year that ends on March […]

China’s trade data better than expected, but worst is not over

China’s exports and imports slowed their declines in March after plunging in the previous two months, but a sure-footed recovery in trade remained months away as the coronavirus outbreak shuts down many economies and sharply lowers global demand. Customs data on Tuesday showed China’s overseas shipments fell 6.6 percent in March year-on-year… To read more: […]

Covid-19 lockdown impact: Unemployment rate rises to 23.4%

Image by Rajesh Balouria from Pixabay CMIE report says India’s urban unemployment rate soars to 30.9% even as overall rate rises to 23.4%, indicating covid-19’s impact on the economy Early estimates of jobs data indicate that the coronavirus effect may have left a devastating impact on the economy, sending urban unemployment rate soaring to 30.9%… […]

Coronavirus: China manufacturing economy bounces back strongly after lockdown

Image by Free-Photos from Pixabay China’s manufacturing engine bounced back strongly in March, recovering from a miserable February, when the country was effectively shut down due to coronavirus. The official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners in the world’s second largest economy… To read more: https://www.scmp.com/economy/china-economy/article/3077669/coronavirus-china-manufacturing-economy-bounces-back-strongly SOURCE: South […]

China’s factories reopen, only to fire workers as virus shreds global trade

Image by romanakr from Pixabay  Shi Xiaomin, who used to export suits and blazers by the thousands to South Korea, the Netherlands and the United States, was luckier than many other Chinese factory owners When his factory in the eastern city of Wenzhou reopened last month after an extended shutdown due to the coronavirus outbreak… […]

India’s Modi Faces New Challenge: A Slowing Economy

Since a landslide victory last year, Indian Prime Minister Narendra Modi has pushed through a series of controversial social initiatives that have drawn cheers from supporters but been criticized as part of a divisive Hindu nationalist agenda. Now, the country’s suddenly flagging economy, which not long ago was the engine driving India’s emergence on the […]

Expect Indian markets to be ‘somewhat choppy’: Mizuho

Vishnu Varathan of Mizuho Bank says there has been “discernible fiscal slippage” in India, in part due to “fractured” political standing ahead of elections in the country. SOURCE: CNBC (13)

Support for private businesses will lift economic growth

China will unveil more support measures for the country’s private businesses as well as small and medium-sized enterprises, said its State Council. Increasing support for the development of private businesses and SMEs helps strengthen the internal impetus for economic development, boosts entrepreneurship and innovation, and expands employment, it was stated in the meeting, which was […]

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