Representative image Impostor syndrome seems to be more common than actually thought, though at a collective level. People may often feel that the groups they are affiliated with may be underperforming in comparison to other groups. Although this self-critical approach may work in certain cases, it may also overlook the positives, and decrease the morale of those affiliated with the group. Many in India seem to have a collective/national-level impostor syndrome. While the Indian economy is much better placed than its peers in the emerging markets, and other economies, the government is being criticised on the economic front. The criticism comes when the fundamentals of the Indian economy are robust, despite the exogenous shocks caused by the COVID-19 pandemic, supply chain disruptions, monetary policy tightening by the US Federal Reserve, the Ukraine-Russia conflict, and inflated crude oil prices. India's macroeconomic health remains robust despite external pressures, and ongoing … [Read more...] about Bibek Debroy writes: India’s economy is better placed than its peers, other economies around the world
Solar and lunar eclipse in 2021 in india
Representative Image In the August Monetary Policy Committee (MPC) meeting, RBI Governor Shaktikanta Das said that the Indian Rupee (INR) has fared “much better than several reserve currencies as well as many of its EME and Asian peers”. The Governor also added that the INR has depreciated “more on account of the appreciation of US dollar rather than weakness in macroeconomic fundamentals of the Indian economy”. Of late, there has been a lot of discussion around the INR. Towards the end of July, the rupee touched 80 against a US dollar , leading to discussions that it is a sign of a weakening Indian economy. But, is this the case? First, exchange rate increasing or decreasing against a foreign currency is not a sign of weakness or strength. In fact depreciation of the currency is often cited as a positive development for the domestic economy. If a currency depreciates against a foreign currency, the exports become cheaper with respect to the other country, and imports … [Read more...] about USD vs INR | India’s macroeconomic fundamentals are strong
Representative Image. (PC-AFP) The Chinese military, for the last week, has carried out military exercises involving missile strikes, warplanes, and ship movements crossing the midline of the Taiwan Strait. As a response, Taiwan's military also began a live-fire artillery drill simulating a defense of the island against an attack after days of massive Chinese military exercises. All the while, international cargo traffic in the Strait of Taiwan has been hit and ships are looking at alternate routes. "The number of shipping vessels operating in the Taiwan Strait has dropped from around 250 a day to just 15-20 ships a day, after the Chinese military blocked six zones in the Strait," a trader based out of Singapore told Moneycontrol. He added that many shipping lines were even cutting short scheduled loadings for importers across Asia. Close The Chinese government has been firing missiles across the Taiwan Strait in protest of a visit by US House … [Read more...] about MC Explains: How Chinese military drills around Taiwan will disrupt global shipping
The Ayala group’s AC Energy Corp. (Acen) saw its second quarter consolidated net income jump by 25 percent to P1.8 billion as its domestic operations returned to profitability while its overseas projects revved up their output. Second-quarter results significantly improved — albeit not enough to reverse profit decline — in the first semester, with Acen’s net income falling by 19 percent to P2.2 billion. From April to June alone, Acen’s net income got a boost from fresh contributions from new power generators here and abroad, as well as the easing of transmission restrictions in the Visayas grid. Acen’s generators in the Visayas were forced to limit the output they delivered in the aftermath of Typhoon Odette in December, damaging transmission facilities. This worsened the “curtailment,” or forced reduction of supply deliveries, that had resulted in a June 2021 incident that damaged a major undersea transmission cable that links the islands of Negros and Cebu. The company said … [Read more...] about Acen’s Q2 profit up 25% as local operations rebounded
Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.
Workers load sacks of cement onto trucks parked at a rail yard on the outskirts of Patna, Bihar, India, on Thursday, Feb. 25, 2021. Photographer: Anindito Mukherjee/Bloomberg The Reserve Bank of India’s surveys have no doubt played a part in the rate hike and in formulating the stance of the Monetary Policy Committee. Take, for instance, the survey of household inflation expectations. While it’s true that inflation expectations have come down, they remain elevated, as Chart 1 shows. The last time inflation expectations were this high before the pandemic was in September 2015, when households were yet to recover from the soaring inflation in the post-financial crisis... … [Read more...] about RBI survey data show upbeat business sentiment, elevated inflation
Share to Twitter Share to Linkedin The Panama Canal is a conduit for 6% of the global maritime traffic. But climate change is disrupting that trade. While high temperatures and little rain are the primary causes, four hurricanes over seven years have been equally devastating. The Panama Canal is in the midst of Panama’s rainforests, which cover 68% of its land or nearly 12.7 million acres. Both depend on precipitation for survival. If the rainforests do not get ample rainfall, it trickles down to the canal. The bad news is that the canal’s authorities say that 2019 was the fifth most arid in 70 years, with rainfall 20% less than the average, all compounded by depleted reservoirs. Indeed, water levels fell in 2015 and 2016 , and shippers had to reduce the amount of cargo on their vessels — money down the drain. “The Panama Canal is the only interoceanic commerce route whose operation depends on the availability of freshwater, making it the most … [Read more...] about Climate Change Threatens Panama Canal And Global Maritime Trade