Tag: despite

Why business expectations are so tepid despite recovery in Indian economy

Loknath Das

The government cannot let the recovery in the Indian economy take its own sweet time, not with the elections less than a year away. Photo: Mint The Nikkei India Composite PMI Output index, a gauge of private sector economic activity in both the manufacturing and services sectors, came in at a strong 54.2 for July, up from 52.6 in June. A reading above 50 denotes expansion, while one below 50 indicates contraction from the previous month. As Chart 1 shows, the composite PMI (Purchasing Managers’ Index) is at its highest level…

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Despite closer strategic ties, Australia advisory discourages travel to India

Loknath Das

Australia may be considering India a priority country in its international relationship as the two nations move towards closer strategic and security cooperation following Prime Minister Malcolm Turnbull’s just-concluded visit to India, but in its official travel advisory Australia continues to flag India as a travel destination that warrants a “high degree of caution” . In fact, an intending Australian traveller to India may be well discouraged from planning a visit to the country — or even cancelling a planned visit — if he or she were to read all…

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Bank of England sticks with rate cut signal despite Brexit bounce

subhadip

The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain’s economy was proving less severe than it had predicted only last month. The BoE’s rate-setters voted unanimously to keep Bank Rate at 0.25 percent, the lowest level in the BoE’s 322-year history, after cutting it in August for the first time since 2009 to tackle the shock of Britain’s vote to leave the European Union. Policymakers also voted 9-0 to…

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Migrant arrivals to Greece rise sharply despite EU-Turkey deal

subhadip

Arrivals of refugees and migrants to Greece from Turkey rose sharply on Wednesday, just over a week since the European Union and Turkey struck a deal intended to cut off the flow. Greek authorities recorded 766 new arrivals between Tuesday morning and Wednesday morning, up from 192 the previous day. Most arrived on the northeastern Aegean island of Lesbos. The EU Commission said on Tuesday that the flows in the last week had reduced, with only 1,000 people arriving from Turkey on Greek islands, compared to an average of 2,000…

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