Economy
Asia-Pacific's large, diversified banks better positioned to cope with climbing climate risks: Moody's
"Asia-Pacific economies with weak infrastructure are particularly vulnerable to physical climate risks, which can hurt banks' asset quality because a natural disaster can damage borrowers' assets or disrupt their cash flow. Many banks in the region also face asset risks from large exposures to sectors susceptible to carbon transition risks"
Residential realty demand may grow 5-10%, but recovery to pre-pandemic levels only after FY23
However, absolute demand will catch up with pre-pandemic levels only after fiscal 2023. The demand in the first half of this fiscal will be impacted by the second wave of the pandemic. Nevertheless, healthy recovery is expected in the second half, much like the previous fiscal, the ratings agency said. That said, established developers with well-managed balance sheets would grow faster than the industry.
Canada unveils new financial program to stimulate economy
Titled "Supporting Canadians and Fighting Covid-19", the 237-page fiscal update launched on Monday offers a revised look at the Canadian economy and the impact of the ongoing pandemic-induced recession on the country's economic outlook, reports Xinhua news agency.
Covid fuels newbies' flood in stock markets, ushers buying spree
These newbie investors, have ventured into the market, via the DMAT route. As per SEBI data, close to 6.3 million (63 lakh) new Demat, or dematerialised, accounts have been opened during the April-September 2020 period, representing an increase of 130 per cent on a year-on-year basis.
India will have to invest heavily in infrastructure for economy to recover: UN expert
"A crisis often presents an opportunity" and making the right investments can have a multiplier effect in steering the economies to a recovery, while also making a monumental difference in people's life," Hamid Rashid, the head of the UN Development Research Branch, said on Wednesday in an exclusive interview to IANS TV. Developing countries like India do not have the option of financing a stimulus programme like the US he added
2nd wave of Covid threatens economic growth: Crisil
It said that base GDP growth forecast for fiscal 2022 at 11 per cent, with risk firmly tilted downwards. As per the report, the GDP growth rate may drop to 9.8 per cent, if the second wave peaks by May-end and if the peak is reached by June-end, the GDP growth rate is likely to fall to 8.2 per cent. It further said that India Inc's revenue growth is projected at 15 per cent for fiscal 2022 on a low base of two years in base case.
Covid variants pose biggest threat to US economic recovery
"The biggest risks that I see to the recovery are these variants," Kashkari told the Economic Club of New York, mentioning one variant of the virus which is dominant in parts of the US and easily infects younger people, Xinhua reported.
Mid and small caps best performers, gold slumps in 1st quarter
Mid and small-cap stocks delivered returns of 14 per cent in the quarter while gold under-performed with negative 11 per cent returns. Gold is the biggest under-performer for the first three months of 2021 vs. the other asset classes. Gold prices are down by 11 per cent in rupees and 10 per cent in US Dollar in the last three months. Apart from ‘Risk on' trade, rising bond yields are now short term negative for the gold prices
India better prepared to handle resurgent Covid's economic fallout
Accordingly, industry watchers have cited accelerated vaccination drive along with massive adoption of e-commerce by India Inc and low interest rates as factors which will mitigate the intensity of any economic shock.In contrast, the localised lockdowns are expected at best to slow down the progress of economic recovery, but not stall it.
Covid resurgence subdues India's manufacturing sector output: PMI
On the price front, the rate of input cost inflation was among the strongest seen over the past three years, the report said. However, selling prices increased only moderately as companies limited their adjustments to retain a competitive edge and boost sales.
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