Economy of India news
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- Global energy’s historic plunge equivalent to losing entire energy demand of India
The Covid-19 pandemic is the biggest shock to global energy in more than seven decades, according to the International Energy Agency (IEA). The fall in demand in 2020 is set to dwarf the impact of the 2008 crisis, it said. - Russia to present initiatives on pandemic effects mitigation to BRICS states – LavrovMoscow will propose a number of initiatives to mitigate the consequences of the pandemic, including in social and economic spheres, to the BRICS bloc member nations, Russian Foreign Minister Sergey Lavrov said on Tuesday. He made the statement...
- India eases Covid-19 lockdown, allowing some shops to reopen on limited basis as Modi preaches virtues of ‘self-reliance’New Delhi has given the green light for small shops across India to open their doors under certain conditions, as the country begins to relax far-reaching lockdown measures brought to stop the spread of Covid-19.
- Indian refineries slash Middle East oil imports as storage fills upDue to plummeting fuel demand and overflowing storage capacity, at least three oil refiners in India have asked for lower crude oil imports for May from the Middle East, including from the world’s top exporter Saudi Arabia.
- Factories, farming restart in rural India even as Covid-19 cases riseSome shops and businesses opened in rural India on Monday as part of a staggered exit from a weeks-long lockdown that has left millions out of work and short of food. The development comes amid reports that coronavirus infections rose by more than...
- Demand for gold jewelry is crashing in China & India, consultant findsSharp contractions in gold imports by major consumers suggest gold jewelry demand is being battered, says investment research group Capital Economics, though it projects that safe-haven buying should ensure a near-term price rise.
- South Asian nations to face worst economic slump in 40 years as coronavirus cripples economies — World BankThe Covid-19 pandemic will likely slow South Asia’s once-bustling economies to the lowest level seen in decades, the World Bank has warned in its latest report.
- What will happen to India’s economy if coronavirus lockdown isn’t lifted until May?With India set to extend the lockdown that was due to end next week in an effort to prevent the further spread of Covid-19, global consulting firm McKinsey & Co has warned that the measures could come at a great cost.
- Bolsonaro says experimental Covid-19 drug could save 'thousands of lives' & thanks India for approving exports of raw ingredientsBrazilian President Jair Bolsonaro has thanked Indian PM Narendra Modi after New Delhi gave the nod to continue exporting ingredients for hydroxychloroquine (HCQ), stressing that the drug could save thousands of lives.
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