Pandemic Financial News

₹8.2 trillion since the pandemic, outpacing the increase in gross financial savings at ₹6.7 trillion, thus explaining the fall in household net financial savings by ₹1.5 trillion / 2.5% of GDP. On the asset side of households, there was an increase of ₹4.1 trillion in insurance and provident and pension funds," SBI Report said.

Bank deposits are likely to face competition from Indian mutual funds as households are willing to take more risk, according to a report by Bank of Baroda (BoB). “Mutual funds have an inherent advantage when it comes to investing as they offer a variety of products depending on the preferences of the investors.

LONDON (Reuters) -Britain recorded a slightly larger-than-expected budget deficit in August, official data showed on Thursday, the fourth-highest August borrowing since records began in 1993.

Microsoft will host its Surface Event in New York City today where a lot of new products are expected to be launched while the event could also feature the tech giant showcasing the new AI features coming to Windows 11. The Surface event is slated to start at 7 AM PT or 7:30 PM (India time) on September 21 from New York City and the recording of the event will be available online at 10:30 PM (India time) on the Microsoft event website.

coronavirus cases. HHS Secretary Xavier Becerra said, "Biden-Harris Administration, in partnership with domestic manufacturers, has made great strides in addressing vulnerabilities in the US supply chain by reducing our reliance on overseas manufacturing." This highlights President Joe Biden's endeavour to strike political balance.

The Kansas City Royals are pushing back their self-imposed deadline of the end of September for deciding on a location for their new ballpark

The Bank of Canada has faced unprecedented challenges when it comes to monetary policy since the start of the COVID-19 pandemic, launching drastic interest rate cuts to combat the initial slowdown followed by a rapid tightening cycle to fend off inflation. Making things more complicated has been that economic policy hits different households in different ways, an effect that has been exaggerated in the recent extreme conditions, according to Bank of Canada deputy governor Sharon Kozicki, who addressed the issue during a Sept. 19 speech at the University of Regina.

economic slowdown of 2018-2020 and the disruptions caused by the Covid-19 pandemic in 2020 and 2021 have adversely impacted India’s labour market, skewing the workforce towards self-employment and disproportionately affecting women, according to a report by the Azim Premji University. According to the ‘State of Working India 2023’ report, gender-based earnings disparities have narrowed in India since 2017 with salaried women workers now earning 76% of what their male counterparts earn, up from 70% in 2004.

global manufacturing over the past five years, with its exports to the US surging by $23 billion, a 44% increase from 2018 to 2022, while China experienced a 10% decline in exports to the US during this period, according to a BCG study on global manufacturing shifts. The study, titled 'Harnessing the Tectonic Shifts in Global Manufacturing', said the shifts in manufacturing and sourcing occurred in a range of industries as global companies have had to rethink their manufacturing and sourcing strategies due to trade wars, the pandemic, geopolitical tensions and supply bottlenecks. And as companies reconfigured strategies, India became one of the preferred manufacturing spots. Semiconductor and material shipments from India to the US surged by 143% over the past five years, albeit from a modest starting point, while China saw a 29% decrease in these exports.

G20 summit reported fair progress on some of the most nettlesome challenges confronting the world economy, such as debt relief to low-income countries, restructuring multilateral funding agencies and securing finance commitments for climate change. G20 itself has become a more inclusive forum with the inclusion of the African Union (AU).

apparel retailers are expected to register a 7-8 per cent revenue growth this fiscal, buoyed by festival and marriage season demand, and despite inflation impacting discretionary spending in the first quarter, according to a report.

Federal Open Market Committee kept its interest rates steady in a range of 5.25% to 5.5%, a 22-year high, after the end of its two-day meeting. Majority of economists polled by Bloomberg had expected the Federal Reserve to pause its interest-rate hikes, though a recent spike in oil prices has raised concerns another hike may lie ahead. From March 2022 through May 2023 the Fed raised rates at 10 successive meetings — by anywhere from a quarter to three quarters of a point — as it fought the worst rise of inflation since the early 1980s.

macroeconomic crises and business cycles. Even zero growth needs basic savings and investment to sustain a constant output. Two questions arise.

consumer spending by anywhere from $9 billion a month to $70 billion a year. And that’s before accounting for the recent uptick in gasoline prices, which are now at their highest since October. Retailers must be pretty concerned about how this will effect shoppers, right? Well, yes and no.

NEW DELHI : As many as 42% of graduates under the age of 25 remained unemployed after the covid-19 pandemic, while the pace of job creation decreased following the global economic slowdown, a report on the labour market released on Wednesday said. The report, ‘State of Working India 2023: Social Identities and Labour Market Outcomes’ by Bengaluru-based Azim Premji University, said that a large variation in the rate of unemployment exists even among people with higher education, though post-covid figures remain below the pre-covid levels. It cited data from the Periodic Labour Force Survey (2021-22), which is carried out by the National Statistical Office (NSO).

Despite a slowing legal market, law firms have maintained near-record graduate hiring levels this year, as a competitive labour market and a positive long-term outlook drive recruitment.

The federal government will be extending the deadlines for Canada Emergency Business Account (CEBA) loan repayments, but Restaurants Canada says it’s not enough for many struggling businesses.

The Public Health Agency of Canada is tracking a new, highly mutated variant of the virus that causes COVID-19 which has been detected in at least four countries, Health Canada says, but no cases have been detected in Canada so far.

Running a business can mean long days and tight margins, and while pandemic recovery continues, the repayment of loans racked up during the global emergency is adding to those regular stresses.

Rising food costs are leading consumers to pivot away from shopping at food and beverage stores to less costly general merchandisers instead, Statistics Canada reports.

In the three months to June, growth still overshot expectations of 0.5%, but the country has seen a reduction from the strong recovery that was expected following its reopening last year.