The April-June quarterly earnings reports have started on a weaker note for Indian IT services companies.
As the coronavirus pandemic brings the economy to a grinding halt, raising the need for the higher government spending, India’s gross debt is likely to touch Rs170 lakh crore, which is 87.6 per cent of the GDP, according to the SBI Ecowrap.
The government is working on a privatisation plan to help to raise money by selling assets in non-core companies and sectors when the country is strapped for funds due to lack of economic growth caused by the coronavirus pandemic.
According to most estimates, the Indian economy will register a record contraction of over 4.5% in the current fiscal year that started on April 1 due to the pandemic.
With economic activities coming to a halt amid the Covid-19 pandemic and the lockdown, the Indian economy is expected to record a negative 4.5 per cent growth rate in the current financial year (FY21), according to the FICCI’s Economic Outlook Survey.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, predicted that Dubai’s economy would grow by around 5 percent this year.
Dubai Chambers and the three Chambers operating under its umbrella - Dubai Chamber of Commerce, Dubai International Chamber and Dubai Chamber of Digital Economy
Natural gas has never been more important to the global energy mix as it replaces coal and liquid fuels while supporting the adoption of intermittent renewable energy,
flydubai announced on Thursday record-breaking annual results for its financial year ending 31st December 2023, with net profit reaching Dhs2.1 billion ($572 million), an increase of 75 per cent compared to 2022, marking the carrier’s strongest-ever performance.