Indian farmers driven to debt as banks turn risk-averse during pandemic

Mumbai: Last month, Dnyaneshwar Siddhanth, a farmer from India’s western state of Maharashtra, was in desperate need of money to buy seed and fertiliser as the monsoon sowing season approached. But after being rejected by his bank for a loan despite several attempts, Siddhanth finally borrowed 150,000 Indian rupees (Dh7,500) from a moneylender at a rate […]

US weekly jobless claims drop by nearly 100,000 to 1.01m

Washington: Applications for US unemployment benefits decreased last week following an unexpected jump, indicating the labor market’s gradual recovery is back on track as COVID-19 infections ease from a surge in the prior two months. Initial jobless claims in regular state programmes fell by 98,000 to 1.01 million in the week ended August 22, Labor Department […]