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The worst is yet to come for India’s slowing economy

Hong Kong (CNN Business)India's economy kicked off 2020 with its weakest quarter in at least eight years. But the biggest drop is yet to come.GDP expanded by 3.1% in the three months to March, according to government data published Friday. That was a faster pace than economists had expected, but still the weakest figure since…

Nova Scotia’s economy starts reopening June 5, but not all businesses are ready

Premier Stephen McNeil announced this week that the province's economy will begin to reopen June 5, but some business owners are still trying to figure out what that means for them and how to navigate new public health rules amid COVID-19.Hair salons are one of many types of businesses that will be permitted to reopen…

Among Ripple’s Largest XRP Investments Imagines $30 Billion Virtual Economy Powered by Crypto

Josh Williams, CEO of the Ripple-funded blockchain gaming company Forte, envisions a world where the economy of a single video game could dwarf the entire music industry. In a lecture at Andreessen Horowitz’s Crypto Startup School, Williams explains how blockchain technology and smart contracts can be used to revolutionize in-game economies. He notes that developers today…

As economy falters, restaurateurs look back at oil boom that gave rise to fine dining

The once-thriving restaurant scene in St. John's is preparing for lean years, as a pandemic and plummeting oil prices inflict pain on an already fragile economy.Jeremy Bonia is co-founder and sommelier at Raymonds on Water Street in St. John's. (Ryan Cooke/CBC)It was 2012 and times were good in Newfoundland and Labrador. Oil was flowing offshore, and…

India’s Services Industries Perform “Astonishingly Low” In April: Report

The pandemic poses a challenge for Infosys Ltd. and Tata Consultancy Services.From call centers to hotels to airlines, India's key services industries have come to a standstill during the coronavirus outbreak, dragging the economy into possibly its worst recession on record.Businesses providing services of everything from technology to travel and trade were the first to…

Angus Taylor says higher emissions targets ‘not necessarily great policy’

Federal energy and emissions reduction minister Angus Taylor has said that the Morrison government had no interest in setting ambitious climate change targets, but would rather set targets the government knew it was already able to meet.Speaking to an online event organised by the Carbon Markets Institute, Taylor said that he did not believe it…

The impact of COVID-19 on Australia’s housing market

The COVID-19 pandemic has swiftly upended lives, jobs and economies – but we’re yet to see the full impact on housing. In a time of enormous uncertainty, understanding what’s happening in the housing market is important, not least because housing is the biggest source of wealth for most Australian households. House prices are more predictable…

Reserve Bank predicts largest GDP fall in 160 years

The Reserve Bank is predicting the largest decline in annual GDP in at least 160 years but a central bank official has said that doesn't mean that the coronavirus crisis is a one-in-160 year event. "When we talk about one-in-200-year events, you can't just look at an annual change in GDP," Chris Bloor, the RBNZ's…