Posted in Finance News

India’s services collapsed in April with PMI 5.4

A private survey result released on Wednesday reveals that India’s services collapsed in April. The IHS Markit Services Purchasing Managers’ Index was 5.4 in April. It was 49.3 in March. It has witnessed an unprecedented…

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Posted in Finance News

Britain’s economy to witness 7% quarterly contraction due to COVID 19: business survey 

On Tuesday, a business survey reveals that Britain’s economy is on course for an unprecedented 7% quarterly contraction. It came after when business closures were forced across the country last month. It was part of…

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Posted in Finance News

China shall consider the sale of special bonds to stimulate the economy: Liu Shangxi

A top government adviser says that China should look to raise up to 5 trillion yuan (US$700.5 billion). It shall be from the sale of special bonds. The purpose is to stimulate the economy after…

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Posted in Finance News

US unemployment grows as another 3.8 million Americans lose jobs due to COVID – 19  

Last week, another 3.8 million people lost their jobs in the US. The coronavirus pandemic continued to batter the economy. The pace of layoffs appears to be slowing. However, an unprecedented 30 million Americans have…

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Posted in Finance News

Indian economy could contract up to 0.9% in FY21: CII

The Confederation of Indian Industry (CII) warned on Thursday that in the worst-case scenario, the Indian economy could contract up to 0.9% in FY21. It will be if the coronavirus pandemic prolongs and the government…

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Posted in Finance News

A large fraction of the world population to face acute food insecurity due to COVID – 19 crisis: Report 

The Global Report on Food Crisis warns that global hunger could become the next big impact of the pandemic. It is published by the UN Food and Agriculture Organisation, the World Food Programme, and 14…

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Milan to introduce schemes to limit car use post the coronavirus crisis

In response to the coronavirus crisis, Milan is to introduce one of Europe’s most ambitious schemes. It is about reallocating street space from cars to cycling and walking. Motor traffic congestion has dropped by 30-75%…

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Posted in Finance Healthcare

India’s growth rate could be over 7% in 2021 if it controls the coronavirus outbreak: IMF

According to the International Monetary Fund’s mission chief for India, India’s growth rate could bounce back to over 7% again in 2021. However, it will be possible if India can bring the coronavirus outbreak under…

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Posted in Finance Healthcare News

India attempts to balance economy, livelihoods and COVID-19 containment efforts

India had imposed lockdown to limit the spread of the COVID-19. However, in these containing efforts, its economy is suffering severely. Under such circumstances, it sketched out the first cautious steps out of the lockdown….

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Posted in Finance Healthcare News

Lockdown may cost the Indian economy Rs 7-8 lakh crore: Analysts

With effect from March 25, Prime Minister Narendra Modi announced a nationwide complete lockdown. It was with the intent to contain the spread of COVID-19. It brought as much as 70 percent of economic activity,…

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