coronavirus lockdowns
MP mulls revival of economic activity amid spike in pandemic cases, deaths
The state government has decided to rope in economists, experts to suggest measures to restore economy to a pre-pandemic level, sources said
GDP to contract by 18.3% as economy set for weakest quarterly growth in eight years
Economists predict a contraction of 8.1% and 1.0% in the September and December quarters respectively
India’s crude imports drop to decade low in July
Crude oil imports last month slumped about 36.4% from a year earlier to 12.34 million tonnes, or 2.92 million barrels per day
Fuel demand in July falls due to high prices, fresh lockdowns
Petrol sales by state companies fell by 1% to 2.03 million tonnes in July from June, and by about 11.5% from a year earlier
Employers bring back guest workers to cities
Maharashtra has undertaken initiatives to invite locals to participate in the infra projects undertaken by the government
India's factory activity contracts for three consecutive months
Input and output prices declined for a third consecutive month in June, and manufacturers continued to cut staff
ADB slashes 2020 growth forecast for developing Asia to 0.1% from 2.2%
The ADB kept its economic growth forecast for developing Asia for next year at 6.2%
Asia stocks extend rally on hopes of quick economic recovery
Markets have been particularly encouraged by a May U.S. jobs report last week that showed a surprise fall in the unemployment rate
Asian shares make cautious gains; oil and gold jump
Oil prices reached their highest since March as demand picked up as countries around the world eased travel restrictions
US Fed leaves interest rates near zero, to use full range of tools to help economy
In its statement, the Fed said it is "committed to using its full range of tools to support the US economy in this challenging time”