Pandemic triggers demand for immunity-boosting food, tipping market dynamics

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The Covid-19 pandemic is changing food habits in India, and food and dairy companies are getting into the game by launching new products that they say help boost our immune systems to prepare us better to battle the coronavirus, Shampa Bahadur reports. Boosting immune system has never felt more urgent. Since the outbreak of the […]

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Fitch Ratings makes further cuts to global GDP forecasts, but says global recession bottoming out; India decline seen at 5%

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Fitch Ratings said it was making further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but added that the slump in global economic activity was close to reaching its trough. “World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April […]

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Recovery in global steel production on the horizon

A recovery in worldwide steel production depends, primarily, on an upturn in market demand. The authorities in many countries are starting to gradually ease their lockdown restrictions. The potential exists for steel-intensive industries to rebound faster, at least initially, compared with a number of tertiary sectors, such as hospitality and retail. Automation in modern manufacturing […]

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COVID-19’s global economic impact could reach $8.8 trillion, says ADB

The Asian Development Bank (ADB) doubled its estimate of the impact of the coronavirus pandemic on global economy, saying it expected economic losses of between i $5.8 trillion to $8.8 trillion, or 6.4% to 9.7% of global gross domestic product (GDP). Economies with domestic outbreaks and strict lockdowns will be hardest hit as domestic demand […]

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Prime Minister Modi announces $266 billion package to support India’s coronavirus-hit economy

Prime Minister Narendra Modi went on national television on Tuesday to announce a 20 trillion rupee ($266 billion) financial stimulus package to support India’s tottering economy ravaged by the coronavirus. He also appealed to Indians to become self reliant and said the package equivalent to 10 percent of India’s gross domestic product (GDP) would help […]

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Indian Oil says plans to operate refineries at 80% capacity by May end as India opens after COVID lockdown

IndianOil Corporation, the country’s biggest fuel retailer, said it had re-started several process units at its refineries that were shut due to the national lockdown triggered by the coronavirus pandemic, as demand for petroleum was beginning to gradually pick up. “With throughputs gradually picking up pace, the refineries are currently operating at about 60% of […]

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