Economy News

Economic recovery widened in Q2FY22 as Covid second wave abated: ICRA

Economic recovery widened in Q2FY22 as Covid second wave abated: ICRA

New Delhi: India's economic recovery widened in Q2FY22 as the impact of Covid-19's second wave abated, ratings agency ICRA said.In quarterly terms, half of the high frequency indicators recovered above their pre-Covid levels in Q2FY22, it said.In Q1FY22 only three out of the 14 indicators had exceed...

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Acuite retains India's FY22 growth forecast at 10% on likely festive demand

Acuite retains India's FY22 growth forecast at 10% on likely festive demand

Mumbai: Ratings agency Acuite Ratings & Research has retained India's FY22 growth forecast at 10 per cent on the back of likely revival in consumption demand during the festive season.The agency cited steady progress in vaccination and expected improvement in consumption driven pent-up demand am...

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Turkish lira hits historic low

Turkish lira hits historic low

Ankara: The Turkish lira has dropped to a historic record low against the US dollar, triggering widespread concerns for the country's future.At 2 p.m. on Thursday, one dollar was traded at 9.49 Turkish liras after Turkey's central bank surprisingly cut its policy rate by 200 basis points to 16 per c...

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Niti Aayog VC thinks economy will surpass RBI and IMF forecast

Niti Aayog VC thinks economy will surpass RBI and IMF forecast

Niti Aayog Vice Chairperson Rajiv Kumar estimates that the country's economic growth will be over 10.5 percent.The number is higher than the IMF and RBI projections. Previously, the Reserve Bank of India, revised GDP growth for the country from 10.5 percent to 9.5 percent.The International Monetary ...

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WB FM blames Modi govt for HNI entrepreneurs exodus

WB FM blames Modi govt for HNI entrepreneurs exodus

Amit Mitra, West Bengal's Finance Minister has blamed the Modi government at the Centre for a mass exodus of Indian entrepreneurs of high net worth between 2014 and 2020.In a series of tweets, the state Finance Minister questioned the government at the centre and questioned whether it was "fear psyc...

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US growth slows amid supply chain disruptions, labour shortages, Delta surge

US growth slows amid supply chain disruptions, labour shortages, Delta surge

Washington: US economic growth slowed from mid-August through September, constrained by supply chain disruptions, labour shortages, and a Delta variant-fuelled Covid resurgence, according to a Federal Reserve survey."Outlooks for near-term economic activity remained positive, overall, but some Distr...

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India on the cusp of a virtuous cycle: Morgan Stanley

India on the cusp of a virtuous cycle: Morgan Stanley

Mumbai: A virtuous cycle, supported by strong capex and productivity, is taking off in India, a Morgan Stanley research report said on Wednesday.Strong rates of growth, coupled with benign macro stability risks, set a positive backdrop for the ratio of corporate profits to GDP to rise. This cycle wi...

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Consumer Confidence surged by 1.9 percentage points in Oct: Report

Consumer Confidence surged by 1.9 percentage points in Oct: Report

New Delhi: Consumer confidence of Urban Indians has further improved in October, and has surged by 1.9 percentage points over September, according to the Refinitiv-Ipsos India Primary Consumer Sentiment Index (PCSI).The monthly PCSI, which is driven by the aggregation of the four weighted sub-indice...

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Better performance for ASEAN markets compared to extremely expensive India: UBS

Better performance for ASEAN markets compared to extremely expensive India: UBS

New Delhi: Capital markets house, UBS sees better relative performance for the ASEAN stock markets versus "extremely expensive India" in addition to a double upgrade for China to overweight."We started this year with a strong preference for ASEAN over China and Taiwan. While it has taken ASEAN a whi...

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IMF revises down Asia economy growth forecast to 6.5%

IMF revises down Asia economy growth forecast to 6.5%

Washington: The International Monetary Fund (IMF) has revised down its 2021 economic growth forecast for Asia to 6.5 per cent, down by 1.1 percentage points from its April projection, according to a newly released regional economic outlook."The resurgence of the pandemic, amid initially low vaccinat...

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