Fitch Ratings and CRISIL. Fitch Ratings recently slashed India's growth forecast for FY21 to a 30-year low of 2%; Moody’s, too, revised it to 2.5%, citing further spread of virus and extension of the lockdown period. CRISIL, an S&P Global Ratings’s arm, also revised its reading 170 basis points to 3.5% from 5.2%.Dharmakirti Joshi, the Chief Economist at CRISIL, said, “The impact on India comes from many sides. First one being the hit to the global economy, where growth of trading partners has become very weak as some of them are also going into recession. Another being the disrupted financial markets of advanced countries, which are spilling its effect over us. Over the last few days the direction and intensity of both these factors have risen. And since the lockdown, the discourse has been on the domestic side that has worsened the economic outlook even more.”What does this mean for India?Intensifying coronavirus pandemic and a looming global recession have … [Read more...] about Growth recession is upon India, says DK Joshi of CRISIL
Global growth fund
CUOMO NEWS. At his daily coronavirus press briefing, New York Gov. Andrew CuomoAndrew CuomoOvernight Health Care: Trump calls report on hospital shortages 'another fake dossier' | Trump weighs freezing funding to WHO | NY sees another 731 deaths | States battle for supplies | McConnell, Schumer headed for clash Overnight Defense: Navy chief resigns over aircraft carrier controversy | Trump replaces Pentagon IG | Hospital ship crew member tests positive for coronavirus NRA reportedly lays off dozens of employees amid coronavirus MORE (D) said that eventually his state (and the country) need to restart the economy — but not right away. Cuomo warned, “We’re not there yet ... this is not a light switch that we can just flick one day and everything goes back to normal.” (MSNBC) … [Read more...] about The Hill’s Coronavirus Report: Debruyne Says Global Response Platform Needed; Navarro Saw It Coming
Pathways and policesThe IPCC report identifies two main strategies. The first stabilises global temperature around the 1.5°C mark with limited overshoot and the second permits temperatures to exceed 1.5°C temporarily before coming back down. The consequences of the temporary overshoot would cause worse impacts than the first approach. To limit warming to around 1.5°C with no or limited overshoot, global net carbon dioxide (CO2) emissions need to decline by about 45% from 2010 levels by 2030 and reach net zero around mid-century. In comparison, to limit warming to just below 2°C, the reductions needed are about 20% by 2030 and reach net zero around 2075. … [Read more...] about Another warning on warming
Through the $200 million small and micro business program, the Visa Foundation will provide $60 million in grants to NGOs dedicated to supporting small and micro business owners, many of whom are women, in every region where Visa operates. The Visa Foundation will also allocate $140 million with investment partners that generate positive social and financial returns for small and micro businesses. … [Read more...] about Visa Foundation commits $210 Million to support Small and Micro Businesses
By Harshad ChetanwalaIt is said that whenever the stock market starts plummeting the way it has from 17 Jan 2020, it brings an opportunity for those who have cash (investible surplus) with them to invest in a falling market. Is it true? The IMF chief has said that the world is in a worse recession than the one in 2008 which was precipitated by the Lehman crisis and the containment of Covid-19 virus will define the strength of recovery. Since most of the countries across the world are close to a complete lockdown in operations or are already locked down, the impact of the current crisis could be far more than the impact of 2008 Financial Crisis. Another thing that we must keep in mind is that the 2008 financial crisis was a “man made” crisis, the current global crisis is because of a virus which is highly contagious, and the vaccine for it will be ready only next year. Having said that there is no denial that economies across the world are on their way to one of the biggest … [Read more...] about Can you always make money by investing in a falling market?