Pandemic Financial News

United States may not be on the brink of recession as being claimed by major economists as per latest revelation by popular economist Adam Posen, who has claimed that the scares of an imminent recession may actually be far away. His view has opposed the concept of many other economists who have raised the alarm of a major US recession.

Rio de Janeiro is currently in a major fix due to the increasing monkeypox cases in the city, which is now becoming a rising concern for health officials across the country. Thousands of cases have been detected till now and is increasing by the day. Local reports have claimed that a sum total of 3,800 reports of monkeypox virus transmission have been made with seven new confirmed cases in August, according to a DailyStar UK report.

In 2020 and 2021, COVID-19 Economic Injury Disaster Loans were a lifeline for small businesses

Mint has reviewed the company’s policy. According to the policy named “Rhythm," employees are categorised into three sections - those who have to work from the office five days a week, those who work at client office locations, and those with a hybrid work setup who have to work from an LTIMindtree location for at least two days a week. Employees are mapped into these categories based on the nature of the work and business requirements.

Households, which have recently brought down their net financial savings sharply, are likely to build back their financial assets as rising incomes provide a boost going ahead, Reserve Bank of India deputy governor Michael Patra said on Tuesday. “This process has already begun – households’ financial assets have increased from 10.6 percent of GDP during 2011-17 to 11.5 per cent during 2017-23 (excluding the pandemic year),” Patra said at an event organised by the Confederation of Indian Industry here. “Accordingly, households will remain the top net lenders to the rest of the economy in the coming decades,” he said.

A growing number of restaurant customers are choosing to eat alone

IIM-Ahmedabad's one-year MBA programme for executives (PGPX) faced challenges this year amid a global slowdown, with the highest maximum earning potential (MEP) offered at Rs 54.8 lakh per annum, marking a six-year low. The highest-ever MEP of Rs 1.08 crore was recorded last year, while the average highest MEP from 2018 to 2022 was Rs 70.56 lakh. In addition, the median MEP increased from Rs 33 lakh in 2023 to Rs 35 lakh in 2024. Out of 147 students, 126 opted for placements, and 121 accepted offers, leaving five unplaced. This is the second instance since the pandemic year 2020 where five students did not secure their desired offers. Three students pursued entrepreneurship, and two joined their family businesses. A total of 105 recruiters participated, with 67 being first-time recruiters. The placement data was shared through the Indian Placement Reporting Standards (IPRS) report for IIM-A's PGPX programme.

PLI beneficiaries. “GeM has registered phenomenal growth and the list of PLI beneficiaries is also expanding, as the scheme has started to yield results," said the official, requesting anonymity. Taurani is sceptical.

stress compared with non-parents, a new report by the United States surgeon general said.Experts say the report aligns with mental health indicators in Canada, and there are key changes that can help.The report by U.S. Surgeon General Dr.

Supreme Court on Monday asked the Centre to file an affidavit giving details about compliance of its 2021 judgement and subsequent directions on providing ration cards and other welfare measures to the migrant workers. The top court, in June 29, 2021 judgement and subsequent orders, had passed a slew of directions to the authorities asking them to undertake welfare measures, including giving ration cards to all migrant workers, who were distressed during the COVID-19 pandemic, registered with the 'e-Shram' portal. The 'e-Shram' is a comprehensive National Database of Unorganised Workers (NDUW) launched by the Union Ministry of Labour and Employment with a primary aim to facilitate delivery of welfare benefits and social security measures to unorganised sector workers across the country. «The Union of India is directed to file a comprehensive affidavit explaining the steps taken in compliance of the judgement dated June 29, 2021 and other subsequent orders. Such an affidavit will contain all the details of steps taken on any direction issued via main judgement and subsequent orders. This must be done within the period of three weeks,» said a bench comprising justices CT Ravikumar and Sanjay Karol.

without deep recessions. The Federal Reserve will probably soon join central banks in Europe in cutting interest rates, bond yields have fallen sharply since the summer and stockmarkets have shrugged off a growth scare that struck at the beginning of August. America’s economy was in fact bigger in the second quarter of 2024 than had been forecast before the covid-19 pandemic struck.

«This is the first time independent India has seen such impetus or focus on developing infrastructure, both from the government and the private sector, such as road network, improvement of stations, world class airports, sports stadiums, convention centers,» said Mandeep Lamba, president and CEO, South Asia, HVS Anarock, while moderating the session. Tourism in India grew 300% YoY in 2023, said MakeMyTrip executive officer Rajesh Magow. «We have to create awareness and change the perception of the country, because people (tourists) also worry about security and safety.» Tourism in India is only at 85% of what it was in 2019 before the Covid pandemic hit, he said.

data analytics, predictive tech and AI, data points are valuable not so much for what they tell us about the past but for how well they can predict the future. By that yardstick, Q1 GDP numbers released by NSO last Friday for the quarter ended June 2024 are likely to fail the test. In a world dogged by uncertainty, where black swan events are seemingly no longer the exception, macroeconomic numbers like GDP are incredibly hard to predict. The past is no guide to the future. No one foresaw the pandemic or, further back in time, the Global Financial Crisis, both of which saw GDP growth collapse dramatically. Sure, these were catastrophic events. But, thanks to geopolitics, there are just too many unknown unknowns in the world today to expect GDP estimates for a single quarter to give us more than a very rough idea of how growth is likely to pan out in future.

Hotel housekeepers have for years waged a fierce battle to restore automatic daily room cleaning that was scaled back at many properties during the pandemic

Europe, setting the stage for policymakers in both regions to lower interest rates in September. On a three-month annualized basis, the Federal Reserve’s preferred measure of underlying US inflation advanced 1.7% in July, the slowest this year. In Europe, consumer prices rose 2.2% in August from a year ago — the tamest since mid-2021 and significantly lower than the 2.6% pace a month earlier. Meantime, inflation in Tokyo — a leading indicator of the national data due in September — picked up speed in August, supporting the case for the Bank of Japan to continue raising rates at a gradual pace as the bank balances the need to support the economy.

Netflix's latest fantasy series Kaos has sparked significant interest with its bold reimagining of Greek mythology, starring the iconic Jeff Goldblum as Zeus. As viewers immerse themselves in the modern retelling of these ancient tales, the question on everyone’s mind is: Will there be a Kaos season 2? The show’s blend of mythology, drama, and dark humor has quickly garnered attention, but its future remains uncertain.

ET World Leaders Forum. Magow emphasised, «Addressing these factors is essential for enhancing India's appeal as a global tourist destination,» reflecting a strategic approach to maximizing India’s tourism potential. Despite the progress, Magow acknowledged that the sector is still recovering from the COVID-19 pandemic, stating, «We have just reached 85% of the recovery post-COVID.» He further remarked on the global attention India is receiving, suggesting that the country's tourism industry is poised for significant growth. The rapid development of infrastructure in India is transforming the nation's tourism landscape, with significant benefits for the hospitality sector. Puneet Chhatwal, Managing Director and CEO of The Indian Hotels Company Limited (IHCL), underscored the sector's pivotal role in this transformation.

Dr S Jaishankar said at the ET World Leaders Forum referring to the challenges that the world faces in today's time. Jaishankar explained that there are different forms of risks that pose a threat to the globe, including pandemics and climate change. In a conversation with ET's Pranab Dhal Samanta, Jaishankar said that risks are coming out of changes happening in the world. With respect to the emerging risks, the EAM said that every government today is constantly and cautiously assessing risks. These risks also expand to the global supply chain, he added.

A New Jersey judge has ruled that smoking will be allowed to continue in Atlantic City’s casinos

premium offerings as budget-conscious consumers dial down on fast food while upmarket chains and restaurants take a big bite of gourmet burgers. Inflation has taken a toll on the current value pack, which does not come anywhere close to the original offering. This has diluted the messaging of cheap meals on the go, pivoting quick-service restaurants up the value chain.