COMMENT – Divergent recoveries in Asia: History is not destiny

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Asian economies are performing better than expected. In the IMF’s latest World Economic Outlook Update, we upgraded our growth estimate for 2020 by 0.7 percentage point from our previous forecast in October, to a contraction of 1.5 percent—in regional terms, a better outcome than other parts of the world. This is largely driven by stronger-than-expected performance among […]

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Global fisheries and aquaculture hard hit by COVID-19 pandemic, says FAO report

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Global fisheries and aquaculture have been hard hit by the COVID-19 pandemic and could face further disruption in 2021 as lockdowns affect supply and demand across the sector, according to a report by the Food and Agriculture Organization of the United Nations (FAO). Fish supply, consumption and trade revenues for 2020 are all expected to […]

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Global economy expected to expand by 4 per cent in 2021: World Bank

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As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand four per cent in 2021, but will still remain more than five per cent below its pre-pandemic trend. “The global economy appears to be emerging from one of its deepest recessions and beginning a subdued […]

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India’s central bank keeps key rate unchanged amid optimism about economic recovery

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The Reserve Bank of India on Friday decided to keep the repo rate unchanged at 4% while pledging to keep its accommodative monetary stance unchanged for as long as necessary to cope with covid’s impact. The reverse repo rate was also kept at the the current leve of 3.35%. It noted that tbe global economy […]

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India officially in recession, but second quarter economic contraction slower than expected

The Indian economy shrunk for the second straight quarter — three months to September — technically entering into recession for the first time, but the rate of contraction was slower than anticipated raising hopes for a quick revival. According to a government statement, the gross domestic product (GDP) fell 7.5 percent from a year ago […]

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After dismal sales, Indian gold jewellery retail to pick up in second half of fiscal year – ICRA

Indian gold jewellery buyers are expected to resume purchases in the second half of the fiscal year, following a 64% contraction in the first half, according to ICRA, which is a Moody’s subsidiary. There has been a steady improvement in footfalls since a gradual opening of the stores post the covid-19 induced lock downs, although these […]

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