Economy

The Parliament in December last year passed a bill to merge Daman and Diu, and Dadra and Nagar Haveli into one unit, with an aim to strengthen administrative efficiency and fast track the development of the two union territories. … [Read more...] about President Ram Nath Kovind says govt working to boost rural economy

Chile and Brazil, while turning heads - and cash - toward left-leaning Mexico.The consensus among economists is that while the overall impact on Latin American growth and financial markets from the outbreak will be limited, there may be wide divergences across the region.Chile's heavy reliance on the export of commodities, especially copper, make it particularly vulnerable to weaker demand from China, its main trading partner and the world's largest buyer of commodities.It is a similar situation for Peru and Brazil - a leading iron ore producer - where almost a third of all exports go to China. In the case of Brazil, growth forecasts were already being reduced and the currency was sliding to all-time lows against the dollar before the global ripple effects of the coronavirus began. "The most exposed economies are Chile, Peru, and to some extent Brazil," said Alberto Ramos, head of Latin American research at Goldman Sachs. "The key source of downside risk to LatAm is a deterioration of … [Read more...] about Coronavirus may sideswipe Chile, Peru and Brazil economies, leave Mexico unscathed

The IHS Markit report stands in stark contrast to the surveys of manufacturing businesses released this week by the Philadelphia and New York Federal Reserve banks. Those showed a stronger-than-expected uptick in growth in their regions. All three reports are based on surveys of business executives. … [Read more...] about Coronavirus Drag on U.S. Economy Appears Bigger Than Expected

The number of New York City apartments and private rooms rented through Airbnb rocketed from about 2,650 in 2010 to 16,500 in just the first five months of 2014, state attorney general Eric Schneiderman’s office said in an October report. Critics say such services shrink the amount of available housing by creating incentives to convert apartments into de facto hotel rooms, rather than rent them to residents. … [Read more...] about New York City council to consider regulation of Airbnb sharing economy

"It is still too early to know the complete and detailed financial impact on universities," said Catriona Jackson, chief executive of Universities Australia, the apex body for the sector representing 39 member universities. "It depends on how long the travel restrictions remain in place, and the mitigating effect of the flexible options each university offers to their students." … [Read more...] about Travel ban on students may hurt Aussie economy