Morgan Stanley is bullish on India, Australia and Singapore. The three countries stand out among those in Asia-Pacific that have handled the coronavirus pandemic well, said Jonathan Garner, who is managing director and chief Asia and emerging markets equity strategist at the investment bank.
Pharmaceutical company Moderna and Biotech, a forerunner in the development of coronavirus vaccines, has the potential to reach a $100 billion-plus market capitalization, according to one analyst.
On Friday finance Minister Nirmala Sitharaman said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII.
The Economy of France bounced back in the third quarter as it profited from a summer period with few social restrictions. However, the focus is now on the final quarter of the year after the two largest economies in the euro area announced nationwide lockdowns.
Over a 2 week span in early July, seven retailers, including The Paper Store, Brooks Brothers and Lucky Brand, filed for bankruptcy protection. J.Crew, Neiman Marcus and J.C. Penney and four other retailers had already filed in May. Lord & Taylor and the off-price shop Stein Mart led another wave that hit earlier this month. Some would say it has been a flood, but what’s coming could be a tsunami.
LME STOCK DATA TODAY : ALUMINIUM -2825,COPPER -3650,LEAD -725,NICKEL -3204 &ZINC -1100
The U.S. economic growth accelerated in the first quarter of 2019, in contrast to expectations. On an annualized basis, the economy grew 3.2 percent, an acceleration from 2.2 percent in the fourth quarter of 2018. Nevertheless, the acceleration was built on shaky foundations, as half of the quarter’s growth was because of a build-up inventories and a fall in imports, which meant net trade contributed one percentage point to growth.
Retail inflation and wholesale inflation of India fell to multi-month lows in December amid signs of weakening economic recovery, creating wiggle room for the Reserve Bank of India’s (RBI) monetary policy committee to cut interest rates at its meeting on 7 February.
Indian economy’s roller-coaster ride during the year gone by was best captured by the GDP growth. In the first quarter of 2018-19 ending June 30, it grew at an impressive 8.2 per cent, after 7.7 per cent in the first three months of the year.
Finance Minister of India Arun Jaitley on Saturday said that six items have been removed from the 28 per cent tax bracket under the Goods and Services Tax (GST) regime.