BUSINESS
Most economies won't return to pre-pandemic levels until 2022: Moody's
As per Moody's Investors Service report, a slow and bumpy global recovery is expected. It, however, added that despite the relative stability of its forecasts since last April, uncertainty around the macroeconomic outlook remains much higher than usual.
Gold failing as equity hedge, warns BlackRock
In a blogpost, Russ Koesterich, portfolio manager for BlackRock's Global Allocation Fund, said: "Gold's underperformance might be more tolerable for investors, except for the fact that it has also been failing as an equity hedge."
Double digit GDP growth expected in FY22: Report
A sharp recovery in GDP growth in Q3 FY 2020-21 at 0.4 per cent as compared with a contraction of 7.3 per cent in Q2 and 24.4 per cent in Q1 2020-21 (as per revised NSO estimates) is a result of impactful reforms undertaken by the government since March 2020, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry.
As it prepares to appeal against Cairn arbitration order, Govt open to settle matter
The flexible approach has been shown by India even as it prepares to file an appeal against the Cairn arbitration order and will contest its sovereign rights to tax, sources said. The sources said that the government will also strongly contest other suits filed by Cairn Energy at various other international courts as well.
Don't ban crypto, need regulatory mechanism: IAMAI to govt
"The proposed move to ban will have an adverse impact and will lead to loss in investments and hit 10 million Indian crypto customers. Hence, we are urging the government to define the cryptocurrency regulation framework after due consultation with IAMAI and stakeholders such as India crypto-asset user groups and the exchanges that facilitate buying and selling," the industry body said.
India's e-commerce market to hit $111B by 2024
The growth will be driven by mobile shopping, which is projected to grow 21 per cent annually over the next four years. Countries including India have seen a shift in consumer behaviour caused by Covid-19, and new payment trends are shown to be on the rise.
India's February passenger vehicle sales rise over 17% YoY
Sales of passenger vehicles increased by 17.92 per cent in February 2021, according to data from the Society of Indian Automobile Manufacturers (SIAM) released on Wednesday. Overall, a total of around 281,380 passenger vehicles were sold last month compared to over 238,622 units during the same period of 2020.
Govt mulls making scrap recycling an organised sector
A framework has been released with an objective to promote formal and well-organised recycling ecosystem in the country which is currently highly unorganised with heavy dependence on imported scrap. Some of the key recommendations are setting up of a central authority for recycling of metals as Metal Recycling Authority (MRA).
To keep China out, DoT mandates trusted sources for telecom networks
"With effect from June 15, 2021, the licensee shall only connect Trusted Products in its network and also seek permission from designated authority for upgradation of existing network utilizing the telecommunication equipment not designated as Trusted Products," the DoT said.
OYO's Singapore arm secures $200M SoftBank loan
A regulatory filing showed that OYO Hotels (Singapore) Pte Ltd has secured a loan of $200 million from SB Investment Holdings (UK), an affiliate of SoftBank Vision Fund, for enhancing liquidity through the pandemic and strengthening its balance sheet.
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