Focusing on ratings is 'nuts', Raghuram Rajan wants India to do Covid-control first

“In this environment, focusing on a credit rating is just nuts. Your credit rating just does not depend on your level of debt, it depends on how you are going to grow out of the debt. We cannot worry about spending. We certainly have to focus the spending but we have to repair the damage now,” Rajan said during an NCAER online conference .

Raghuram Rajan Advises Govt To Sell PSUs While Stock Market Is Buoyant

Former Reserve Bank of India (RBI) governor Dr Raghuram Rajan has advised the government to fast-track the process of selling PSUs by taking advantage of the sudden increase in customers in the market.

Markets Drop After Sobering News From Europe

EU says recession will be deeper than forecast.Technology companies and banks led stocks broadly lower on Wall Street Tuesday, as the market gave back some of the big gains it made the past couple of weeks. The sell-off snapped the S&P 500 index’s five-day winning streak.

The IMF's chief economist poured cold water on the Bank of England's claim the UK is heading for a V-shaped recovery

The economy could see "a spike initially, and then going forward, I think we could end up with something much more flat," Gopinath told lawmakers in Britain's parliament on Wednesday.Her comments on the UK economy are in sharp contrast to projections by two policymakers at the Bank of England.

Antique jewels the new playground for super-rich Indians amid lockdown

Affluent Indians have found a new obsession: online jewellery auction of rare and collectable pieces with pedigree and provenance. Art Deco masterpiece which epitomises a classic synergy between Indian royalty and the French watch and haute joaillerie house — sold for a staggering $1.34 million, far beyond its reserve price between $600,000 and $800,000.

US adds 4.8 million jobs as unemployment falls to 11.1%

But, the Wall Street Journal said that the US labour market is operating with millions fewer jobs than in February, the month before the coronavirus pandemic struck the country's economy.

Oil prices drop on prospect of returning Libyan supplies

The more-active Brent crude futures for September fell 24 cents, or 0.6%, to $41.61 a barrel by 0610 GMT, paring Monday's 92 cent gain. The August contract, which expires on Tuesday, fell 24 cents to $41.47.

How to prepare for the next market crash

Heightened optimism among investors without backing of strong economic data is worrying experts, who say the current stocks rally may not sustain.

Muted economic sentiment will move customers towards value purchase: Walmart India CEO

The company expects a pent up demand for in the short-term, for non-essential categories such as small kitchen and home appliances.

$500 billion and counting: If dollar fall over time, India reserves to enjoy huge passive swelling

Over the long term (10 years) the correlation between USD-INR and EUR-USD was as high as 81%; over a shorter horizon, the correlation is much lower (20-25%).Thus,while the $500 bn number is certainly something to celebrate,we need to understand that $8.4 bn did not flow into India that week.

IMF sees 'profound uncertainty' about global recovery

Gita Gopinath cited a striking divergence of financial markets from the real economy, which could portend greater volatility in financial markets.

IMF chief economist Gita Gopinath said the current economic crisis was more global and playing out differently than past crises.

RBI spared no expense in hosting Raghuram Rajan

The Reserve Bank of India spent almost Rs 71 lakh in shifting the household items of its former Governor, Dr Raghuram Rajan from Chicago to Mumbai and back when he was appointed the Governor in August 2013. It amounted to be more on transporting his household goods than what it paid him as salary in three years.

Centre May Bring In Law To Ban Cryptocurrencies In India

The Centre is planning to introduce a law to ban cryptocurrencies in India,as reported. This follows the Supreme Court's March 4ordersetting aside the Reserve Bank of India's (RBI) 2018 circular prohibiting banks and financial institutions from dealing in or providing services related to cryptocurrencies.

FM Sitharaman Tells Historian Ramchandra Guha:Don't Worry Economy Is In Safe Hands
Guha had posted a tweet quoting British writer Phillip Spratt. “Gujarat, though economically advanced, is culturally a backward province. Bengal, in contrast, is economically backward but culturally advanced,” Tweeted Guha quoting the British writer.
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