Days after tweaking FDI rules, India on Thursday said no country should be worried about the new regulations. China has strongly objected to the change in rules, which makes it mandatory for countries sharing land boundary with India to invest through the government route.
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A day after China’s outburst over the change in foreign direct investment policy, India on Tuesday hit back at its neighbour, saying the amendment did not violate any global commitment as it did not bar investments from across the border but only mandated prior screening of proposals.
The latest IMF forecast puts India as one of the fastest growing major economies even in the midst of the Covid-19 devastation, although it will be the slowest pace of expansion since the 1991 balance of payments crisis. IMF said China is expected to grow by 1.2% in 2020-21 and rebound to 9.2% next year. … Continue reading India to grow 1.9%, global eco to shrink 3%: IMF
The government has aggressively begun implementing a policy to ramp up local output and emerge as an alternate to China, according to people familiar with the plan who asked not to be identified as discussions are not public yet.
China’s central bank has acquired 1% stake in the country’s largest mortgage company HDFC, according to shareholding disclosures made by the corporation.
Luckin Coffee, China’s biggest rival to Starbucks, apologised on Sunday after it revealed a top executive may have faked 2.2 billion yuan ($ 310 million) worth of sales in 2019. “The company retains the right to take legal measures against those suspected to be involved, it will not shield them or be lenient,” Luckin Coffee … Continue reading Starbucks competitor Luckin apologises for fraud scandal
Air India will operate regular cargo flights between India and China from Friday (April 3) to transport “critical medical equipment and supplies”. The airline will establish a “cargo air-bridge” with China for the purpose.
Data released by commerce dept on Friday estimated rise in exports went up 2.9% to $37.5 billion in February, led by shipments of oilseeds, electronic goods and iron. But there were signs of a slowdown in segments such as iron ore, where China is a key market, with the growth rate moderating to 38% in … Continue reading Exports rise for first time in seven months
Desi guests keep hoteliers smiling
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So with the coronavirus illness that broke out in China going global, hoteliers are not very worried about its impact on the business as foreign travellers do not account for the bulk of their clientele. The ratio between foreign and local guests has changed from 50:50 in the past to 30:70 now. However, virus spreading … Continue reading Desi guests keep hoteliers smiling
The trade impact of the coronavirus epidemic for India is estimated to be about $348 million. Among the most affected economies are the European Union ($15.6 billion), the United States ($5.8 billion), Japan ($5.2 billion), South Korea ($3.8 billion), Taiwan Province of China ($2.6 billion) and Vietnam ($2.3 billion).
Major international airline Emirates is asking staff to take unpaid leave for up to a month at a time due to the rapidly spreading coronavirus that has led to flight cancellations around the world. Emirates has cancelled flights to Iran, Bahrain and to most of China because of the virus.
The coronavirus epidemic can impact India’s March quarter GDP (gross domestic product) growth by 0.20 per cent as imports from China for crucial sectors have got affected, a foreign brokerage said on Monday.
Indian automakers Mahindra and Mahindra Ltd and Tata Motors said on Sunday their supply of parts from China had been hit, as fallout from the coronavirus outbreak mounts.
Ygtut – Prophecy Lyrics
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[Hook: TUT] I’m back on this microphone Y’all don’t even understand what kind of life I’m on Walking through the valley with my Nikes on Prophecy – I had to go and get my psyche on Damn that nigga TUT and K be making songs I remember making plays inside of vacant homes Make the … Continue reading Ygtut – Prophecy Lyrics
Supplies of electronics feel the pinch
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The market for mobiles’ accessories and other electronics devices has started to feel the pinch of the coronavirus outbreak as restricted supplies from China are resulting in shortages on the retail front, adding to woes for sellers.
Bad Sounds – Zacharia Lyrics
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[Verse 1] Zacharia Zacharia Anxiety messiah You’re a bad babysitter But good at being quiet Zacharia Zacharia, Zacharia [Verse 2] Yeah it’s cheap, it came from china Your stomach liner You’re the kind that gets weak at the knees And you ramble when you start to speak [Chorus] Zacharia, liar I feel where you’re coming … Continue reading Bad Sounds – Zacharia Lyrics
[Verse Jimmy P] Todas fazem cara feia Tu tens o ritmo da selva nas veias Ao teu lado elas sabem que não passam do resto O balancé das tuas ancas em nada é modesto E quando esse booty faz um all around Todos ficam c’os olhos em bico, china town Se alinhas all good baby … Continue reading Jimmy P. – Vais Alinhar Lyrics (feat. Djodje & Nelson Freitas)
Pedro Infante – Fiesta Mexicana Lyrics
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Desde el campo en que he nacido Vengo a echar una visteada A la fiesta de mi rancho Rebosante de ilusión A las mujeres bonitas Traigo flores perfumadas Y a los charros cumplidores Traigo mi mejor canción Ay, que bonita es la fiesta del rancho Donde huelo al aire puro A retama y a limos … Continue reading Pedro Infante – Fiesta Mexicana Lyrics
The government is going to seek a relaxation in rules for classification of bank loans to a certain set of companies as a “sub-standard” asset, citing difficulties faced by them. These entities are engaged in export and import, or are those that depend on raw materials and inputs, from China where businesses have been impacted … Continue reading NPA relief likely for cos hit by coronavirus
Air India and IndiGo have extended their flight suspension to China. AI’s Delhi-Hong Kong daily and Delhi-Shanghai (six times a week) have now been suspended up to June 30, instead of the earlier expected resumption in March-end. Similarly, IndiGo’s Chengdu and Guangzhou flights have been suspended till June 14.
ICRA cuts outlook on Indian pharma
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ICRA has revised its outlook on the domestic pharmaceutical industry from stable to negative in view of the lockouts in parts of China, amid the coronavirus outbreak. Of the total imports of active pharmaceutical ingredients and intermediates into India, China accounts for 65-70%, while in specific APIs, the dependence is as high as 80-90%.
The coronavirus outbreak will have a limited impact on India but the global GDP and trade will definitely get affected due to the large size of the Chinese economy, RBI governor said. The deadly virus has brought a large part of the world’s second-largest economy China to a standstill and its impact has been felt … Continue reading Coronavirus to have limited impact on India: RBI guv
Equity indices on Wednesday started on a higher note with benchmark BSE sensex rising over 400 points in opening session in line with Asian peers as global investors weigh China’s measures to prop up the coronavirus-hit economy.
India is facing the ripple effects of shutdowns in China with production of medicines being hit as supply chain disruptions prolong. Prices of paracetamol, the most commonly used analgesic, have jumped by 40% in India, while the cost of azithromycin, an antibiotic used for treating bacterial infections, has risen by 70%, said Pankaj R Patel, … Continue reading Paracetamol rates up 40% as coronavirus shuts China
FDI into India may see greater scrutiny
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India is considering closer scrutiny of foreign direct investment in sectors crucial to national security, a top government official said, as the country looks to tighten oversight amid growing unease about China’s acquisition of tech assets.
Union finance minister Nirmala Sitharaman on Tuesday stated that several sectors are concerned over supply from China amid rising fears of economic impact due to coronavirus outbreak.
Describing the situation in terms of raw material import from China as “grim,” India Pharmaceutical Alliance (IPA) said the Indian Pharma Industry has stocks of active pharmaceutical ingredient (APIs) for two to three months only.
Coronavirus may hit 28% Indian imports
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Five import items that are heavily dependant on China — electrical machinery, machinery and mechanical appliances, organic chemicals, plastics and optical & surgical instruments — that make up about 28% of India’s import basket could be hit the most due to a potential shutdown, analysts say.
As per DGCA circular issued on Friday, passengers flying in from Japan, South Korea, Thailand and Singapore to India will also be screened for Coronavirus apart from those coming from China and Hong Kong. This enhanced scope for screening order by India covers passengers flying here from almost all main southeast Asian destinations and far … Continue reading Flyers from Japan, S. Korea to be screened
Distressed oil supplies are being offered to India as the spread of the coronavirus crimps fuel consumption across China, prompting requests for cargo deferrals and cancellations by Asia’s No. 1 importer.