The First Forum is an initiative which focuses on covering the latest happenings going around in the world in a brief format. This is in lieu with the importance of catching up with these events in this fast changing world.
In this Twenty Third Edition of The First Forum we would be covering the following:
1. Business
2. Economics
3. Finance
(By Gunika Vij, Somya Yadav and Manraj Uppal)
Business
Trump to announce a business council
In a recent two-hour long press briefing, Donald Trump declared that he is assembling a business council which will comprise of leaders of various kinds of businesses as well as medical experts. The objective of this council would be to chart a comprehensive plan aimed at reviving the American economy which has suffered excessively because of the outbreak of COVID-19. Read More
CEOs taking Covid-19 pay cuts ‘should not be rewarded with shares’
In the coronavirus lockdown, CEOs and directors of many firms are sharing the burden of pay cuts, waving bonuses and are even making charity donations. On the other hand, other firms are adopting long term incentive plans that awards the CEOs and directors with stock if they hit the desired target. Read More
Oil producers agree to cut production by a tenth
After much delays, the OPEC producers and allies including Russia conducted a meeting this Thursday to discuss the current situation of the oil market. The producer countries finally agreed to cut production by 10% of the economic output, reducing it by 10 million barrels a day. Read More
Window of Opportunity for MSME’s
The Union Minister Nitin Gadkari on Sunday remarked that the Ministry of Medium Small and Micro Enterprises will tide over the huge blow caused by the Coronavirus outbreak by increasing domestic production with the help of the government and reduce the import of goods manufactured in China. Read More
Economics
V-shaped or U-shaped? Some economists upbeat on virus recovery
While the IMF has declared the Coronavirus crisis as the worst one since The Great Depression a century ago, forecasters still have an optimistic view about the world recovery. Other economists say, the global economy will witness a steep rebound once the countries get back to their normal functioning. Read More
Gold Backed Exchange Traded Funds
While stock markets across the world are crumbing and succumbing to the pressure exerted by the COVID-19 outbreak the Gold backed exchange traded funds have reached an all-time high. Gold ETFs and assets added a $23 Billion in net inflows the largest quarterly gain in history. Read More
Helicopter Money
Government authorities all across the globe are brain storming to come up with mechanisms to cope with the COVID-19 disaster. One such mechanism is ‘Helicopter Money’. It basically means non-repayable money transfer from the central bank to the government. It seeks to goad people into spending more and thereby boost the sagging economy. Read More
PPF and Sukanya Samridhi Norms
In the wake of the coronavirus pandemic the government has eased out norms for PPF and Sukanya Samridhi account holders. The Finance Ministry on Saturday extended the deadline for mandatory minimum deposit in Public Provident Fund (PPF) and Sukanya Samridhi Account (SSA) for 2019-20 by three months up to June 30 in view of the lockdown due to coronavirus outbreak. Read More
Finance
India to get 2.2 billion dollars worth of aid
The coronavirus pandemic has witnessed a steady increase in India. The government of India has stepped in to quell its rise through some assertive measures. A 23 billion dollar relief package was approved by the Finance Ministry on 26th March. Its main aim is to compensate for the losses that many businesses are currently enduring as well as to provide for the underprivileged sections of the society who are out of work. Read More
EU Finance Ministers approve 590 billion dollar package
The coronavirus pandemic has wreaked havoc on Europe. While the body count on the continent is relentlessly growing, many economies are teetering on the edge of collapse. On top of this, hard-hit countries like Italy have been pretty vocal about the EU’s incompetence when it comes to dealing with this crisis. However, in an unprecedented move, EU Finance ministers approved a 590 billion dollar package to get the European economies back on track after the pandemic is over. Read More
The Poor Finally get financial relief
About 30 crore underprivileged people in India have received financial assistance from a total pool of 28,256 crore rupees under the Pradhan Mantri Garib Kalyan Yojana announced by the Finance ministry last month to tide over the 21 day lockdown. Out of the total disbursement, about 13,000 crore rupees have gone to about 6.93 crore beneficiaries. Read More
FTSE 100 records strongest weekly gain since January 2009
With markets closing for Good Friday, FTSE 100 enjoyed it’s biggest weekly gain since the 2008 financial crisis as FED released a $2.3tn stimulus package. The FTSE 100 closed at 5842.66 on Thursday, gaining 2.9% in a single day. Read More
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