CORONAVIRUS IMPACT ON FINANCE
Bank of England leaves interest rates unchanged, here are some factors leaving an economic impact
The Bank of England has left the interest rates across UK unchanged even though the inflation rate has come down significantly this quarter. There are various factors around UK's economy including Taylor Swift's Eras Tour, according to reports.
G-20 finance chiefs to tackle global economic threats
Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt. This week's gathering of finance ministers and central bank governors takes place just a year after Russia invaded Ukraine
Covid leaves long-lasting impact on brain, can trigger neurological problems: Experts
The effect of Covid extends far beyond the nose, throat and lungs.
Finance ministry to meet heads of public sector banks on Thursday; to review progress of various schemes
The meeting with managing director and CEOs of public sector banks is scheduled to be held on January 19 and largely for reviewing the schemes to promote financial inclusion, sources said. The saturation under Pradhan Mantri Jan Dhan Yojana (PMJDY) would be reviewed in the meeting to be chaired by Financial Services Secretary Vivek Joshi.
A haunting China Covid situation that India may dread before Budget
China is the world’s second largest economy and there’s no denying its dominance in swinging economies or even crippling the smaller ones. The coronavirus, that first originated in China, had wiped off one-fourth of India’s economy in April to June 2020 and dragged India to a contraction in fiscal 2021. India's fiscal measures bloated the government's expenditure while income dropped to a trickle, widening the fiscal deficit to a record 9.2% in fiscal 2021.
Hiring will not be impacted by any new coronavirus variant: Survey
The survey was done among 1,468 C-Suite executives and employees online across sectors including banking and finance, engineering, education, FMCG, hospitality, HR solutions, IT, ITeS and BPO, logistics, manufacturing, media, oil and gas, and pharma.
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No need for alarm yet over Omicron's economic impact, says Bibek Debroy
Given the vaccination levels, the impact of this new variant will not be that severe and will certainly not be on the all-India level and the medical systems were far better prepared now, Debroy said.
Investors warm up to Indian papers as 2nd wave recedes
Bankers said companies are power, renewables and also auto sectors are waiting for the right opportunity to raise money from abroad.
What Covid taught me to do with my money as a stock investor
The fact that the portfolio holds high quality companies will provide investors the confidence that the stock would recover quickly when the trajectory of the economy changes.
Dalal Street gets a boost from financial stocks, Sensex ends nearly 2% higher
The Sensex climbed 975.62 points, or 1.97%, to close at 50,540.48, while the Nifty closed up 269.25 points, or 1.8%, at 15,175.30.
Consumer cos may see weaker topline on margin pressure: JP Morgan
The financial services firm's online survey of 400 people indicated weaker incomes, deferred spending intentions and increased online activity.
Covid impact: 3 ways we can help others cope with job loss
Those who have lost their jobs are thus looking at a long period of unemployment, cooped up mostly inside their homes. Many would have dealt with their situation in privacy, without distressing the family. Reach out to make the affected family understand that they are not alone.
59% feel they have insufficient term insurance coverage: Survey
According to a Max Life survey there has been a sharp rise in purchase of critical illness insurance plans. It also found that self-employed have higher protection than salaried. Here are more such findings from the survey.
Parliamentary panel on finance will examine Covid long term impact on economy
Government experts maintain that the Indian economy will come back to pre-Covid levels by the next financial year (2021-22) as it is recovering faster than expected. The committee, headed by former minister and BJP MP Jayant Sinha, has decided to prioritise the long-term impact of Covid-19 on the global economy.
Economic impact of coronavirus has made consumers more likely to track spending: Survey
76 per cent of the respondents in India said that the economic impact of COVID-19 has made them more likely to track their spending, with over 80 per cent either using or interested in using budgeting tools or tools that block card-spend over specified limits.
Impact-investing boom gives funding jolt to $1 trillion asset manager
Nuveen wrote a $31 million check to Mumbai-based Aavishkaar Group, which invests in startups and early-stage companies in sectors including financial services and food processing in the emerging markets.
Government measures to deal with coronavirus impact 'very positive': Former RBI Governor Bimal Jalan
Earlier this month, the government announced a Rs 20.97 lakh crore economic package, which included RBI's Rs 8.01 lakh crore worth of liquidity measures.
Coronavirus pandemic impact: Keep your investments liquid and focus on short term goals
Any investment decision during this period should be made factoring in the short-term goals of an individual.
Coronavirus impact: Staffing body seeks job security for 33-lakh temporary workers
At least, four companies told ET that they were thinking of reducing their temporary staff by 40-60% this month to rein in costs amid uncertainty due to the Covid-19 pandemic.
Real estate prices may crash up to 20% post Covid-19: Deepak Parekh
For potential home buyers, it will be an excellent buying opportunity, Parekh said.
As death toll soars, UK finance minister warns economy could shrink by 30%: Report
The govt has had to defend its response to the outbreak, with complaints of insufficient testing, a dearth of protective kit for medics and questions about whether PM Johnson was too slow to impose a lockdown. Boris Johnson was starting his convalescence from the disease at his country residence on Monday after leaving hospital the previous day.
Govt working on package to offer loans to state distribution companies
The government is working on a package to offer loans to state power distribution companies to help them clear dues of electricity generation plants to prevent blackouts as the projects face a severe liquidity crisis.
There could be some impact on credit cards, micro finance & SME loans: RBL CEO
Certainly there is an impact on micro finance because of the covid situation. Anyway we could not collect because this period was under moratorium and it has been pushed to June. Once lockdown lifts we will re-engage with these customers on an active basis, says CEO RBL Bank Vishwavir Ahuja.
7.3 million jobs at stake, restaurant body writes to Finance Minister for financial bailout package
The move is primarily aimed at providing immediate relief to over 7 million people employed in the F&B Sector who stand severely impacted due to the outbreak and spread of COVID-19.
Coronavirus hits IPO mart: Burger King shelves plan; Antony Waste withdraws issue
The mega IPO of SBI Card saw a listless listing at a 13 per cent discount to issue price of Rs 755.
Govt closely monitoring coronavirus impact on economy: FM Sitharaman
Finance Minister Nirmala Sitharman on Wednesday said the government is keeping a close watch on the impact of the coronavirus outbreak on the Indian economy.
Finance Ministry to assess impact of coronavirus outbreak on trade
"On the impact of coronavirus outbreak and any disruptions to Make in India or to Indian export/import, Finanace Ministry is scheduled to hold a meeting on Tuesday 18 Feb. Stakeholders are welcome." Union Finance Minister Nirmala Sitharaman tweeted on Sunday.
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