Ambani’s RIL flags economic pain as virus devastates India
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Last Updated: May 01, 2021, 09:37 AM IST
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Synopsis
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.
Reliance, whose earnings missed analysts estimates for the March quarter, has signaled more pain in the days ahead unless the virus wave peaks out soon.
By P R Sanjai and Dhwani Pandya
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.
Indonesia Sees Risks to Growth on Virus, Natural Disasters
Bloomberg 1/25/2021 Grace Sihombing and Haslinda Amin
(Bloomberg) Indonesia sees downside risks for economic growth in the first quarter as the government imposed more restrictions to curb a worsening coronavirus outbreak, said the finance minister.
The first quarter is “very tough,” Finance Minister Sri Mulyani Indrawati said in an interview with Bloomberg Television’s Haslinda Amin on Saturday. “We hope in February and March we can still catch up despite the January which is going to be very tough because of Covid and natural disasters.”
She expects the full-year 5% growth target to still be achievable as the mass vaccination program gives “hope and optimism.”
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