Offices and Malls Will Look Different After Covid-19

This is the fifth and final column in a five-part Heard on the Street series on how the American economy might look once the Covid-19 pandemic is over. The office and the shopping mall are two of the things most visibly changed by Covid-19. They also have the most potential to bounce back once a vaccine is distributed, but they could look quite different. Early indicators suggest that many people want to continue going about their lives more remotely. About a quarter of office workers in a recent survey by Jones Lang LaSalle said they would like to work outside the […]

Continue reading

Record Kharif sowing to lift farmers’ income, agri economy; 27 lakh farmers already benefit from MSP

Paddy, being one of the most important staple crops in India, has seen a continuous rise in MSP over the years, growing at a CAGR of 6.8 per cent over the last decade. The record sowing during the Kharif season is likely to boost farm income, and eventually, support the agricultural economy amid the pandemic. Early indications show a healthy start to the procurement season that began in October, said a report by ICRA. While the bumper sowing kept the farm sentiments resilient, the same had to be supplemented by active procurement of rice at a minimum support price (MSP) by […]

Continue reading

WSJ News Exclusive | Outside Monitors Urge Deutsche Bank to Quit Russia

Deutsche Bank AG executives want to expand in Russia despite a legacy of missteps and massive fines. Outside monitors who watch over the bank’s money-laundering controls said it should shut the business instead, according to a person familiar with the communications. The monitors, appointed by New York state’s Department of Financial Services, told the bank in October that efforts to improve its operation weren’t enough to make up for the large risks of doing business with Russian clients, the person said. A Deutsche Bank spokesman declined to comment on its dialogue with monitors, but said it is conducting a risk analysis […]

Continue reading

The Dollar Is Weak. Investors Bet It Will Slide Even More.

The U.S. dollar hit its lowest levels against a basket of currencies in more than two years this week. Investors and analysts think it has further to fall. The only questions seem to be how much and how fast. The consensus view of a falling dollar is based on a big assumption: Covid-19 will be more or less conquered in the months ahead. Vaccines will allow economies around the world to return to normal within the next year, encouraging investors to step back from the relative safety of U.S. assets and invest in stocks, bonds… Source link

Continue reading

This Black Friday, Avoid Credit-Card Pitfalls

This year has been different in many ways, but Black Friday promises to be business as usual, even with the large portion of spending expected to take place online rather than in person. Credit cards remain the top payment option for consumers this holiday season, according to a recent survey by the National Retail Foundation. Many of those planning to charge their shopping may already be in debt. Almost… Source link

Continue reading

Shaktikanta Das says economic recovery stronger than expected; surge in coronavirus poses downside risks

The calibrated opening up of economy can supplement domestic savings, and help fund the growth requirements. RBI Governor Shaktikanta Das today said that after seeing a sharp GDP contraction in the first quarter, the Indian economy has exhibited a stronger than expected momentum in activity. However, he added that even as the growth outlook has improved, downside risks remain with respect to the surge in Covid infections and thus the situation needs to be watched carefully. The calibrated opening up of the economy can supplement domestic savings, and help fund the growth requirements, he further said while speaking at the 4th […]

Continue reading

GST officials catch massive tax fraud of Rs 2,350 crore, fake invoices, ITC claims

Investigations revealed that Prajapati had set up an intricate web of over 22 firms that indulged in circular trading for the purpose of artificially inflating their turnover. The GST Intelligence has spotted yet another case of fraud related to the utilization and passing on of ineligible Input Tax Credit (ITC), with bogus invoices. The GST officials have arrested three persons involved in massive frauds involving GST amounting to over Rs 2350 crores, said a statement by the Ministry of Finance. The official found that Sachin Bhoruka, Director/Partner in various firms such as Erman Metals, Pioneer Trading, Marshal Multiventures, etc, was arrested […]

Continue reading

GST compensation: Bengal, Kerala too pick option mooted by Centre

The Centre has borrowed Rs 24,000 crore on behalf of the states in four instalments so far and passed it on to the eligible states and UTs. The state governments of West Bengal and Kerala, which have been at loggerheads with the Centre over how to compensate the states for their GST revenue shortfall in FY21, given the paucity of the designated cess funds, also have accepted Option-1 mooted by the latter to meet the shortfall. With this, 25 states and all three UTs with legislature — Delhi, J&K and Puducherry — have come to accept the Option-1. Under the mechanism, […]

Continue reading