External member Ravindra Dholakia again bats for a rate cut against the odds

NEW DELHI: For the third consecutive time, external member Ravindra Dholakia, a professor at Indian Institute of Management, Ahmedabad again turned out to be the only dissenter in the Monetary Policy committee as he voted in favour of for a policy rate reduction of at least 25 basis points.Other five members including external member Chetan […]

After Fitch, Moody’s lowers India’s growth forecast

Last month, Fitch Ratings had lowered its GDP growth forecast for India to 7.8 per cent for the current financial year 2015-2016 from an earlier projection of 8 per cent. For 2016-2017, it cut its projection to 8.1 per cent from 8.3 per cent. The agency listed deficient rains, lack of pick-up in capital expenditure […]

Daily Briefing: Fog, stall … rally

Elsewhere, a European Union court will rule on an appeal by Apple and Ireland that Apple must pay 13 billion euros in back taxes. The case is key for low-tax EU jurisdictions and for companies such as Nike and Ikea, which have sweetheart tax deals with other EU states.

Daily Briefing: Pandemic versus policymakers

This morning, markets seem to be hoping that news of soaring coronavirus fatalities in the United States, worsening Sino-U.S. ties, proposals for localised lockdowns from Israel to Australia and higher-than-expected U.S. weekly jobless claims will somehow go away. The hope may be that they will be swept away by another stimulus wave, allowing unemployed workers […]

India GDP: Fitch cuts FY21 growth projections further, expects 10.5% contraction

“The UK, India, France, Italy and Spain stand out, having experienced stringent and/or lengthy lockdowns in 2Q20 which saw mobility (visits to retail and recreation venues) levels fall very sharply and 2Q20 GDP surprise on the downside compared with our June GEO estimates,” Fitch added.

‘Global economy to contract 4.4%, China to grow at 2.7%’

In its September update to the Global Economic Outlook (GEO), Fitch Ratings cut its 2020 GDP forecast for emerging markets, excluding China, to (-)5.7%, from (-)4.7% estimated in June, mainly on account of a huge downward revision to India GDP forecast for the financial year ending March 2021.

Fitch Further Cuts Korea’s Growth Forecast

Big Businesses Boost Investment Despite Plunging Profits Big Businesses Lay off 12,000 Workers in Epidemic Dire Prospects for Korean Economic Growth OECD Cuts Korea’s Growth Outlook 30% of Listed Companies Suffer Losses in Q1 Fitch Expects Negative Growth for Korea Moody’s Slashes Growth Outlook for Korea to Near Zero Percent Big Businesses Start Laying off […]

State Think Tank Slashes Growth Forecast over COVID Resurgence

Big Businesses Boost Investment Despite Plunging Profits Big Businesses Lay off 12,000 Workers in Epidemic Dire Prospects for Korean Economic Growth OECD Cuts Korea’s Growth Outlook 30% of Listed Companies Suffer Losses in Q1 Fitch Expects Negative Growth for Korea Moody’s Slashes Growth Outlook for Korea to Near Zero Percent Big Businesses Start Laying off […]

Boris’s mass COVID testing moonshot ‘to cost £100BILLION’: PM’s plan to get life back to normal is forecast to cost almost as much as entire NHS budget – as experts warn it may not even be possible

‘And as I say, we are not there yet, and I should repeat that, as we manage this period of high demand, it is especially important that if individuals don’t have symptoms, and have not been specifically advised to take a test, they should not be coming forward for a test – because they could […]

Honda net profit surges 70pc on US tax cuts, brisk sales

Honda, Japan’s third largest automaker, has reported improved results thanks to US corporate tax cuts and brisk sales AFP/Kazuhiro NOGI Japan’s third largest automaker logged net profits of 1.06 trillion yen (US$9.7 billion), up 71.8 per cent from the previous year, with sales of 15.36 trillion yen, up 9.7 per cent.