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The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed.
According to the July 20-28 survey of 60 economists, the Indian economy will contract this quarter and on the next as it is predicted to struggle this whole fiscal year. This projected the inadequacy of New Delhi’s $266 billion economic rescue package, indicating that more support is needed to salvage the virus-beaten economy.
Last quarter, the economy was predicted to have declined 20.0%. For the current and succeeding quarters, it is expected to drop 0.6% and 0.3% respectively. This came sharper than the second quarter’s prediction of a 0.8% growth in the third quarter and 4.2% in the remaining quarters.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With ...
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