COVID-19: India facing its worst recession in current fiscal, says Crisil

New Delhi: India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 per cent in the current fiscal because of coronavirus lockdown. “The first quarter (April to June 2020) will suffer a staggering 25 per […]

COVID-19: US small firms leave $150b in coronavirus stimulus untapped

SAN FRANCISCO/WASHINGTON: When the US government first rolled out forgivable loans to small businesses in early April under the Paycheck Protection Program, loan officers at Bank of the West in Grapevine, Texas worked nights and weekends to process a tsunami of applications. But since those first few frantic weeks, demand has “just dried up,” said […]

Get the facts right on problems UAE businesses face

Anyone who reads and writes about economics must sometimes wonder what fiction is, where its boundaries are, and if they exist at all. The question implies certain distinctions, as between fiction and fact, or more cautiously, between fiction and non-fiction. These distinctions exist, and are profoundly important when it comes to instilling or reinstating confidence […]