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Scoot or stay? Investors in India in a fix

Indian equity benchmark Sensex witnessed a solid 32 per cent jump from its March 23 low of 25,981 to hit the 38,492 level on July 28. ...
The Economic Times
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| 03 August, 2020, 07:47 PM IST | E-Paper
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    The Middle East will lose out on $270 billion worth of oil income amid virus, recession

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    • The overall reserves had swelled by USD 1.275 billion to USD 517.637 billion in the previous reporting week.

      Compared to March, total exports - including non-oil exports of goods such as chemicals and plastics - decreased by 23.5 per cent, or about $3 billion, the General Authority for Statistics said. Amid a drop in demand and oil prices, in the first quarter the value of Saudi Arabia's oil exports plunged by 21.9 per cent year on year to $40 billion.

      On Thursday, China reported gross domestic product increased 3.2% from a year earlier. That’s better than forecast and a big improvement from the 6.8% decline during the first three months of the year.

      ​​​ Advisor on Finance Abdul Hafeez Sheikh, releasing the Pakistan Economic Survey 2019-20 said the economy suffered massively due to the coronavirus pandemic which has so far infected about 120,000 people in the country, and forced the government to impose lockdown in March for several weeks.

      The United States, which has threatened to leave the WTO, has blocked the organisation's dispute settlement appeal system since December, and wants China moved up from the developing economies category.

      In a lengthy joint statement, the G7 finance ministers urged all official creditors to join the initiative, called for strengthened reporting of public debt data, and said all creditors - public and private - should make responsible lending decisions in line with debt sustainability guidelines.

      In the previous week ended Jun 26, the reserves had increased by USD 1.27 billion to USD 506.84 billion.

      Saudi shoppers have rushed to buy big-ticket items such as gold, appliances and electronics ahead of the announced tripling of taxes on basic goods on Wednesday as the government tries to shore up revenue for its economy battered by the coronavirus and low oil prices.

      The IMF board approved the debt relief for the countries, nearly all in Africa, but also Afghanistan, Yemen, Nepal and Haiti. The fund together with the World Bank have called for rich nations to stop collecting debt payments from poor countries from May 1 through June 2021.

      Qantas announced a plan Thursday to reduce costs by billions of dollars and raise fresh capital. The plan includes grounding 100 planes for a year or more and immediately retiring its six remaining Boeing 747 planes.

      Britain has one of the world's highest death tolls from COVID-19 but infections have fallen. Govt plans to lift many restrictions in England from July 4 to help an economy facing the deepest contraction in three centuries. With fears of renewed spikes of infections concerning leaders around the world, some of Britain's most eminent health leaders want urgent preparations.

      Indian equity benchmark Sensex witnessed a solid 32 per cent jump from its March 23 low of 25,981 to hit the 38,492 level on July 28. It has since come down about 3 per cent .

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