Economy expected to see brighter prospects

Although European investors approach development opportunities in Asia more slowly than the US and other countries in the region, they recently realised that Southeast Asia, the only region with 5 - 6 per cent growth (before the COVID-19 pandemic), gives them huge benefits. … [Read more...] about Vietnamese economy tipped to bounce back in 2021

Indian economy is not recovering as fast as the government claims and the country's economy may contract 25 per cent in the current financial year, noted economist Arun Kumar said on Sunday.Kumar further said that due to a big decline in the GDP during the current financial year, the budget estimates have gone completely out of gear and, therefore, there is a need to correct the Budget."India's economic growth is not recovering as fast as the government is showing because the unorganised sector has not started recovering and some major components of the services sector have not recovered."My analysis shows that the rate of growth will be (-)25 per cent in the current financial year because during lockdown (during April-May), only essential production was taking place and even in agriculture, there was no growth," he told PTI in an interview.The Reserve Bank of India (RBI) has projected the Indian economy to contract 7.5 per cent in the current financial year, while the National … [Read more...] about Indian economy may contract 25 per cent in current fiscal: Economist Arun Kumar

trade deficit along with chances of a populist budget might dampen rupee's prospects during the coming week.Nevertheless, the persistent interest of FIIs in India's equity market will arrest any sharp depreciation moves."The 25-month high trade deficit may put brakes for strong rupee appreciation. Equity markets also looks stretched and a cool-off looks imminent now. Eyes will be on the budget and the ballooning fiscal deficit, which can be a challenge for the local currency," said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities.On the other hand, new IPOs and hopes of healthy Q3 earning results will retain FIIs' interest in equities."We have two IPO subscriptions next week, which can attract FII participation and keep the USDINR spot lower," said Rahul Gupta, Head of Research-Currency at Emkay Global Financial Services."However, RBI's intervention will be eyed. In spot 73 is acting as strong support, a break of which will push prices towards 72.70-72.75 and then the 72.50 … [Read more...] about Rising trade deficit to dampen rupee’s prospects against dollar: Analysts

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index advanced for four sessions and declined once on Wednesday. The index ended the week at 1,194.2 points, up 2.3 per cent compared to the week before, marking the 11th straight week of growth since last year. … [Read more...] about After 11 weeks of gains, analysts cautious about market prospects

Other Reforms: Biden is expected to introduce legislative changes to the criminal justice system and introduce initiatives to control climate change. First Overseas Trip: Although not officially announced yet, it was reported by the Sunday Telegraph that the United Kingdom will become the first country Biden will visit after being inaugurated as America’s 46th president. Klain, however, acknowledged in the memo that the “full achievement” of these set of policy objectives requires “not just the executive actions the president-elect has promised to take, but also robust Congressional action”. He argued that Joe Biden’s purported actions will be taken “not just to reverse the gravest damages of the Trump administration — but also to start moving our country forward”. … [Read more...] about Travel Ban Reversal & Mask Mandates: What’s To Be Expected From Biden’s First Executive Orders