Pandemic Financial News

It’s getting harder for young Canadians to find a job. A post-pandemic influx of cheap foreign workers in restaurants and retail stores may be making it tougher.

Recession fears are never far away these days, as shown by last week’s market turbulence.

After enduring substantial financial losses during the covid-19 pandemic, Gagneesh Kumar, a plant manager from Rudrapur, Uttarakhand, is reassessing his investment strategy as he nears his mid-40s.

living Nostradamus,' had accurately predicted the recent Microsoft outage months in advance. Salomé, known for his precise insights, including foreseeing the coronavirus pandemic and Elon Musk's acquisition of Twitter, now warns that this technological disruption could be the precursor to more severe global tensions.

Somanathan as India's new cabinet secretary. A 1987 batch Tamil Nadu cadre IAS officer and current finance secretary, Somanathan will serve a two-year term, initially assuming the role of officer on special duty. He will take over India's top bureaucratic post on August 30, according to a statement from the Department of Personnel and Training (DoPT). With a distinguished career spanning over three decades, he has held various key positions, including joint secretary in the Ministry of Corporate Affairs, and joint secretary and additional secretary at the Prime Minister's Office. Bold Policy Reforms

Gujarat's Rajkot among the best in the country, Union Health Minister JP Nadda said on Saturday. He also inaugurated the Virus Research and Diagnostic (VRD) Lab at AIIMS Rajkot, which aims to end the state's dependency on National Institute of Virology (NIV) in Pune in Maharashtra. «Despite suffering from delay due to the COVID-19 pandemic, the AIIMS Rajkot has emerged as one of the fastest growing institutes. Its OPD, IPD and trauma (department) have seen a sharp increase in patient visits. The government's effort is to ensure it gets the best faculty members and doctors so as to make Rajkot AIIMS a high ranking institute to serve humanity and the people of Saurashtra,» he told reporters. The VRD Lab he inaugurated is a Biological Safety Level (BSL) 2 category lab, which will soon be upgraded to BSL 3, Nadda said, adding it is a self-sufficient institution for virus detection that removes the dependency on NIV Pune.

Bangladesh was hailed as an economic miracle. Its singular focus on exporting textiles and apparel delivered rapid growth, lifting millions out of poverty and winning the country's prime minister, Sheikh Hasina, fame and admiration. But Hasina's abrupt exit from power this week has exposed the limitations of that strategy, as Bangladesh struggles to combat steep inflation and joblessness that economists say are largely the result of poor policy decisions. Her increasingly authoritarian rule and Bangladesh's widespread corruption only added to the frustration that boiled over and forced her ouster. Now, Bangladesh must decide its future.

Tata Motors to Maruti Suzuki, Japan's Toyota Motor Corporation (TMC) and China's BYD set to take the covers off a slew of vehicles, many in the electric vehicle segment, at the Bharat Mobility Show to be held in January next year. The number of vehicle makers who have confirmed attendance for the upcoming edition of the show is four times that seen in 2023, and highest-ever since the auto expo started in 1986. The participation is also significantly higher than that seen at the 'Big Five' — the five major auto shows held globally in Geneva, Munich, Detroit, Paris and Tokyo — where participation has been dwindling amid high costs and lower footfalls. While 13 carmakers participated at the Munich Auto Show in its latest edition, 20 showed up for the Geneva Motor Show held between Feb 26 and March 3 this year. The mobility shows in Paris and Tokyo saw participation from 11 and 22 vehicle makers, respectively. Around 13 automakers showcased 35 vehicle brands at the Detroit Auto Show last year.

central government was back on the path of fiscal consolidation in 2021-22, having «recovered ground» from the pandemic year, and its ability to sustain debt improved, the Comptroller and Auditor General (CAG) has said. In its report on the government's compliance in 2021-22 of the Fiscal Responsibility and Budget Management (FRBM) Act, the CAG has, however, flagged «deficiencies in disclosures» pertaining to sovereign guarantees provided to state-run firms to obtain loans, and its off-budget borrowings. The report was presented in Parliament on Thursday. «The government guarantees given to loans raised by the public sector entities was maintained within the target ceiling of 0.5% of the GDP for the year 2021-22. We noted deficiencies in disclosures in regard to guarantees,» the CAG said in the report. «Disclosure on extra budgetary resources (being a component of the central government debt) was found deficient in respect of completeness,» it added.

Renewed fears of a U.S. recession have put a spotlight on unemployment.

Answering «whether the government is actively considering to release 18 months dearness allowance /relief of central government employees/pensioners which were withheld during COVID outbreak,» Pankaj Chaudhary, Union Minister of State (Finance) said, «No». Explaining the rationale behind it, Chaudhary said in his written reply in the Parliament, «The decision to freeze three installments of Dearness Allowance {(DA)/Dearness Relief (DR) to Central Government employees/pensioners due from 01.01.2020, 01.07.2020 & 01.01.2021 was taken in the context of COVID-19, which caused economic disruption, to ease pressure on Government finances...As the adverse financial impact of the pandemic in 2020 and the financing of welfare measures taken by the Government had a fiscal spillover beyond FY 2020-21, arrears of DA/DR were not considered feasible.» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid»

Nest Seekers International chief economist Erin Sykes weighs in as high interest rates continue to hurt the housing market on 'The Bottom Line.'

Rapido, which started as a bike-taxi platform, has crossed gross merchandise value (GMV) of $1 billion, according to people aware of the matter, driven by its expansion into segments such as cabs and auto-rickshaws and an aggressive expansion into more than a 100 cities. This also marks the emergence of a significant third player in the ride-hailing business–after Uber and Ola–which has remained largely stagnant after the pandemic. Rapido has recorded more than three times growth since FY23, when it was clocking a GMV of about $300 million. It is also present in the parcel pick-up-and-drop segment.

The number of Americans filing for jobless benefits fell last week but remain at slightly elevated though not troubling levels

Canada is taking initial steps to limit businesses’ use of a program that allows them to bring in temporary foreign workers after it exploded in size, sparking allegations of fraud and exploitation.

Brigade Enterprises Ltd, and Phoenix Mills Ltd have performed exceptionally well, even through the pandemic. Will real estate stocks still outperform as the broader market continues to rise? To answer this, let us analyse the Nifty Realty/Nifty 500 ratio chart. Given that most constituents of the Nifty Realty index are mid-cap and small-cap stocks, the Nifty 500 is an appropriate benchmark.

Day passes to resorts and hotels really took off during the pandemic and have remained popular

CFP Board has issued a permanent bar against a former advisor in New Hampshire who reportedly lost clients millions by placing them in complex investments that were unsuitable for them.

Canadians who “work from home” may not actually be working from their homes — and many of them are not exactly forthcoming about it, a recent survey suggests.

₹2,302.97 in FY24, RBL’s losses widened by 55% to ₹288.4 crore from last year's ₹185.16 crore. The increase in sales did not translate into profitability for brands like Diesel Fashion India and Paul & Shark which RBL controls. RBL began operations in 2007 and has a portfolio of brand partnerships comprising Dune, Hamleys, Pottery Barn, Tory Burch and West Elm.

A key measure of home-purchase applications surged last week as mortgage rates dropped to the lowest level in more than a year.