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Global economy to plunge into worst recession since WW-II: World Bank

Business | Jun 08, 2020, 08:50 PM IST

The global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank said on Monday.

Indian economy, recession, coronavirus, lockdown

India likely to slip into recession in third quarter this fiscal

Business | May 24, 2020, 12:50 PM IST

The Indian economy is likely to slip into recession in the third quarter of this fiscal as loss in income and jobs and cautiousness among consumers will delay recovery in consumer demand even after the pandemic, says a report. According to Dun & Bradstreet's latest Economic Observer, the country's economic recovery will depend on the efficacy and duration of implementation of the government's stimulus package.

Traffic passes along the M25 London orbital motorway at just before 09:15am local time, near the tow

UK facing significant recession due to coronavirus pandemic, says Rishi Sunak

Business | May 14, 2020, 01:27 PM IST

The UK faces a "significant recession", Chancellor of the Exchequer Rishi Sunak has warned after figures showed the country's economy shrank by 2 per cent in the first three months of the year due to the impact of the coronavirus-induced economic lockdown.

US unemployment spikes to a Depression-era level of 14.7%

World | May 08, 2020, 08:57 PM IST

The U.S. unemployment rate hit 14.7% in April, a level last seen during the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record — stark evidence of how the coronavirus has brought the economy to its knees.

IMF projects India's growth rate at 1.9% in 2020, forecasts global recession due to COVID-19

India | Apr 14, 2020, 06:31 PM IST

The IMF on Tuesday projected a GDP growth of 1.9 per cent for India in 2020, as the global economy hits the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic that has nearly stalled all economic activities across the world.

Telangana CM KCR seeks Rs 10.15 lakh crore package to counter recession

India | Apr 11, 2020, 10:59 PM IST

Telangana Chief Minister K. Chandrashekhar Rao on Saturday urged Prime Minister Narendra Modi to announce Rs 10.15 lakh crore Quantitative Easing to counter what he called the impending recession.

Coronavirus crisis: Recession worse than 2008 global financial crisis, IMF chief warns

Business | Apr 04, 2020, 08:53 AM IST

To accommodate this surge, the IMF is deploying total financial capacity of $1 trillion, Georgieva said, emphasising that "we are determined to use as much as necessary in protecting the economy."

BJP leader, Virendra Singh Mast, Recession, economy

'Would have come wearing kurta-dhoti if there was any recession': BJP MP's bizarre remark

India | Feb 10, 2020, 08:28 AM IST

BJP Ballia MP, Virendra Singh Mast has said that if the nation was going through a recession then people wouldn't have been buying clothes, pants and pajamas.

Hong Kong recession protests slam retailers tourism

Hong Kong in recession as protests slam retailers, tourism

World | Oct 31, 2019, 06:51 PM IST

Steps from Hong Kong’s main tourist strip, Ashfaqur Rahman’s tailor shop usually is a mainstay for tourists dropping in to peruse neatly stacked rolls of fabric and get measured for custom-made suits. Not anymore. The business has dried up since anti-government protests began in early June in the Asian financial center.

Latest News Priyanka Gandhi has launched a scathing attack on the Modi government vis-a-vis economic

Sword hanging on livelihood of lakhs of Indians: Priyanka Gandhi on state of economy

India | Sep 10, 2019, 01:57 PM IST

Priyanka Gandhi has launched a scathing attack on the Modi government vis-a-vis economic slowdown. "The economy is falling into a deep abyss of recession. The sword is hanging on the livelihood of lakhs of Indians," Priyanka Gandhi said.

Bank employees stage protest against Centre's decision to merge PSU banks

Business | Aug 31, 2019, 02:59 PM IST

Employees of all public and private sector banks wore black badges to work as a mark of protest to the government's decision.

Gold crosses record Rs 40,000-mark as recession fears seep in

Gold crosses record mark as recession fears

Business | Aug 29, 2019, 04:29 PM IST

Gold prices on Thursday jumped Rs 250 to breach the record Rs 40,000 per 10 gram levels for the first time at the bullion market here on strong demand from investors amid growing fears of a global economic slowdown.

Surat diamond industry fears 2nd recession in a decade

Business | Aug 29, 2019, 12:06 PM IST

With two children and his wife to support, the 35-year-old diamond artisan is clueless about his sustenance and has been on a job search for two months. He lost his job after serving for six years at a diamond factory, which now he doesn't want to name, saying it will bring bad luck.

Signs of recession worry US President Donald Trump ahead of 2020

World | Aug 17, 2019, 04:37 PM IST

The financial markets signalled the possibility of a U.S. recession this week, sending a jolt of anxiety to investors, companies and consumers. That’s on top of concerns over Trump’s plans to impose punishing tariffs on goods from China and word from the United Kingdom and Germany that their economies are shrinking.

Roughly half the nation's business economists say they

US may enter into a recession by the end of 2020: Report

Business | Jun 03, 2019, 01:00 PM IST

According to the survey, the median forecast for gross domestic product growth in the last quarter of 2020 was 1.9 per cent. That would be a big drop from the most recent estimate of current US economic growth - 3.1per cent in the first three months of 2019.