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Globalisation revised but not reversed by Covid
While global trade volumes have inevitably fallen as the world plunged into recession and travel restrictions and social distancing curtailed the movement of people, the economic ties built up by successive waves of globalisation are proving more resilient than some thought.
DHFL lenders set October 30 deadline for revised offers, flay Wadhawan
The committee of creditors (CoC) met Monday analysing the bids it had ...
DHFL to seek revised offers, may get new owners by November
The company has begun to regain normalcy. It has collected about ₹1,100 crore in ...
IMF revises down economic forecasts for most Gulf countries
The IMF forecast a 2020 global contraction of 4.4% in its latest World Economic Outlook, an improvement over a 5.2% contraction predicted in June.
India Ratings revises banking sector outlook to negative
“The spike in stressed assets due to pandemic is expected to double the credit costs for banking system than estimated pre-COVID-19 levels for FY21,” India ratings said.
Morgan Stanley sees $2.5 billion inflows in these stocks after MSCI index revision
“MSCI India's weight in MSCI Emerging Market Index will increase to 8.7 per cent (due to weight increases for current constituents) and 8.8 per cent (due to new additions) from the current level of 8.1 per cent, resulting in passive inflows of $1.93 billion and $0.6 billion, respectively,” said Morgan Stanley.
Steeper contraction in FY21 GDP: ICRA revises forecast downwards
“With the pandemic continuing in India for over six months, we sense that economic agents are now adapting to the crisis, resulting in a graduated recovery to a new post-Covid normal,” said Aditi Nayar, principal economist at ICRA.
India Ratings maintains negative outlook for residential real estate
However, the agency has maintained a Stable rating Outlook for its rated residential realty companies for the second half of 2020-21, expecting limited rating movements in its investment grade large real estate portfolio, as the ratings already reflect the agency’s revised expectations.
Japan's economy shrank more than estimated in Q2
The world's third-largest economy shrank 7.9 percent in the second quarter of this year from the previous quarter, more than the initial 7.8 percent in the preliminary data, the Cabinet Office said.
Revised cost cleared for Kolkata East West Metro project at Rs 8,575 crore
The project is being implemented by Kolkata Metro Rail Corporation Ltd, which is a central public sector enterprise under the ministry of railways, set up as a special purpose vehicle.
Major downward revision in full-year GDP forecast by agencies raises alarm
The drastic downward revision for both the firms, which was over twice the earlier estimates of -5% by Fitch and -5.3% by Ind-Ra, was due to the worse-than-expected April-June quarter performance of -23.9%.
Global labour income estimated to have declined by 3.5 trillion USD in first 3 quarters of 2020: ILO
Global labour income is estimated to have declined by 10.7 per cent or USD 3.5 trillion in the first three quarters of 2020 due to the COVID-19 pandemic, the International Labour Organization (ILO) said.
TCS falls over 1% after S&P revises outlook
"We are revising our outlook on TCS to stable from positive. At the same time, we affirmed our 'A' long-term issuer credit rating on the company," S&P Global Ratings said in a statement on Tuesday.
ICRA revises steel industry outlook to negative, estimates demand fall of 20% in FY21
“The first half of FY 2021 is expected to be challenging for steelmakers. Many buyers could prefer to sit at the sidelines, given the uncertain demand environment and liquidity pangs of steel consumers, amid dwindling sales and fixed cost obligations,” said ICRA’s senior vice-president, Jayanta Roy.
WTO revises 2020 trade forecast up; world goods trade fall seen at 9.2% from 12.9% earlier
“The WTO now forecasts a 9.2% decline in the volume of world merchandise trade for 2020, followed by a 7.2% rise in 2021…. Strong trade performance in June and July have brought some signs of optimism for overall trade growth in 2020,” the Geneva-based organisation said in a report.