Economy News

Hope is around, Pfizer reports Covid-19 vaccine with 90 percent effectiveness

Hope is around, Pfizer reports Covid-19 vaccine with 90 percent effectiveness

Pfizer said Monday that an early peek at the data on its coronavirus vaccine suggests the shots may be a robust 90% effective at preventing COVID-19, putting the company on track to apply later this month for emergency-use approval from the Food and Drug Administration.The announcement, less than a ...

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GST collections expected to be 30% lower at Rs 9L cr in FY21

GST collections expected to be 30% lower at Rs 9L cr in FY21

New Delhi: Government facing severe pressure on revenues due to the Covid disruptions may end the current financial year with a 30 per cent drop in Goods and Service Tax (GST) collections.This would be a big setback to the Centre that is already burdened with adequately compensating the states for G...

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There's a juggernaut on your idiot box, Broadcast Council confirms it

There's a juggernaut on your idiot box, Broadcast Council confirms it

Mumbai: This festive season, brace up to be fatigued by a constant stream of advertisements selling everything right from insurance to garments to sweets to jewellery.But there is good news too. Advertisements which remains a major source of revenue for the industry could be back to the good old pre...

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Covid-Impact: Indonesian economy hits recessionary paralysis

Covid-Impact: Indonesian economy hits recessionary paralysis

Jakarta (Indonesia): Indonesia’s economy has fallen into recession for the first time since the Asian financial crisis more than two decades ago as the country struggles to control the coronavirus pandemic.Statistics Indonesia, the central statistics agency, said Thursday that Southeast Asia’s large...

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Economic revival? IGI Airport handled 77k MT of cargo in Sept

Economic revival? IGI Airport handled 77k MT of cargo in Sept

New Delhi: The national capital's IGI Airport witnessed a significant surge in cargo movement during September, as it handled volume of around 77,000 MT.Accordingly, both 'Cargo Tonnage' and Cargo Aircraft movements showed a pick-up in September on the back of gradual opening up of economic activiti...

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PMI for services expands for first time in 8 months, employment still a worry

PMI for services expands for first time in 8 months, employment still a worry

New Delhi: The latest Purchasing Managers Index for India Services Business Activity notched up to 54.1, a jump above the 50 mark in as many as 10 months.  For the month of February, the barometer read 50 (no-change) whereas for Sept'20, the index read 49.8.A barometer reading of over 50 indica...

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46% India borrowed to run households amid Covid

46% India borrowed to run households amid Covid

New Delhi: Forty-six per cent Indians borrowed to run their households in Covid times, reveals Home Credit India research. One out of every four people borrowed money from their friends/family during the lockdown largely to manage their daily household needs.Forty-six per cent people borrowed money ...

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Growth increases in China but no significant change in unemployment situation

Growth increases in China but no significant change in unemployment situation

New Delhi: Joblessness continues to remain high in China despite the country clocking a gross domestic product (GDP) growth of 4.9 per cent in the July-September quarter. However, economic growth has not translated into jobs. The unemployment rate for the worlds second largest economy at 5.4 per cen...

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Covid-Impact: PMI spots economy, confidence and demand healing but jobs market on decline

Covid-Impact: PMI spots economy, confidence and demand healing but jobs market on decline

Mumbai/New-Delhi: The Indian economy for the month of October healed at record levels according to findings from the Purchasing Manager's Index. The PMI finding said that the speed of recovery in factory activity for October was the fastest in over a decade. The growth was owing to demand and output...

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Govt gameplan for sell-off gets a boost thanks to identification strategy of PSUs

Govt gameplan for sell-off gets a boost thanks to identification strategy of PSUs

New Delhi: The government proposes to start afresh the process to firm up the list of companies for strategic sale and disinvestment as changed market dynamics post the Covid-19 outbreak and the need for distinguishing between strategic and non-strategic sectors have completely changed the gameplan ...

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