Washington: The US economic recovery from the Covid-19 pandemic is slowing due to the spread of the Delta variant and a sizable segment of unvaccinated people, Joseph Brusuelas, chief economist at accounting and consulting firm RSM US LLP, has said. "In the United States, infections have increased to a rate of 157,000 per day, with...
New Delhi: Chief Economic Adviser (CEA) K.V. Subramanian has said that India will not be affected by the possible tapering of the easy monetary policy by the US Federal Reserve by the end of this year. Citing the "strong" macroeconomic fundamentals, he said that there should not be much concern. "The fact that our macroeconomic fundamentals,...
New Delhi: The high GDP growth despite low base of last year has given confidence that the Indian economy may well grow over 9 per cent in FY22 with tailwinds coming from rapid recovery of manufacturing and construction sectors. The data released by the Union Ministry of Statistics this week showed that the country's GDP...
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Mumbai: Faster economic rebound, as shown by healthy macro-data, along with estimates of a possible less severe third Covid wave, lifted India's equity indices to record high levels, with the Nifty50 breaching the 16,000-mark. Besides, healthy macro-economic data as well as better-than-expected quarterly results boosted investor sentiments. The S&P BSE Sensex hit an intra-day record level...
New Delhi: Essel Group Chairman Subhash Chandra said that he has settled 91.2 per cent of the debt to 43 lenders. In an open letter, he said that the remaining dues are in the process of being paid. In his first open letter issued on January 25, 2019, Chandra had apologised for the hardships faced by...
Mumbai: Kumar Mangalam Birla has stepped down as the Non-Executive Director and Non-Executive Chairman of the Board of Vodafone Idea Ltd. In a regulatory filing, the company said that the company has accepted the request of Birla to step down. "The Board of Directors of Vodafone Idea Limited, at its meeting held today, have accepted the...
Washington: The International Monetary Fund's (IMF) board of governors has approved a new general allocation of Special Drawing Rights (SDR) equivalent to $650 billion, the largest ever in the organisation's history, in an effort to boost global liquidity amid the Covid-19 pandemic. "This is a historic decision, the largest SDR allocation in the history of...
New Delhi: The Union Cabinet has cleared the Deposit Insurance and Credit Guarantee Corporation Bill 2021 under which depositors of banks under moratorium will be able to access money within 90 days, finance minister Nirmala Sitharaman said briefing the cabinet decision. All commercial banks and even branches of foreign banks operating in India will come...
