Day: May 27, 2020

Oil Drops From 11-Week High on Signs Russia May Ease Supply Cuts

(Bloomberg) — Oil declined from the highest settlement in 11 weeks on signs Russia was planning to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions.

Futures fell 1.7% in New York after closing above $34 a barrel for the first time since March. Moscow wants to scale back curbs in line with the OPEC+ deal, according to people familiar with the matter, but a Kremlin spokesman said that Russia would analyze the market before making a decision. Meanwhile, U.S.-China relations have deteriorated further as Washington considered sanctions to punish

Nationwide lockdown may shrink India’s GDP by this much in Q1; SBI gives hope for Q2

The SBI Ecowrap report has estimated that Q3 and Q4 growth numbers could look much better, with an average of 6 per cent.

A major fall in economic activities due to the coronavirus-led nationwide lockdown in the first quarter of the current fiscal may cause the quarterly GDP to nosedive. The contraction in the Q1 FY21 GDP may be as high as 40 per cent, said the SBI Ecowrap report. Stating the possibility of a smart recovery in the Q2 GDP of up to 7.1 per cent on the back of the country’s ability to sustain the demand, SBI Chief

TCS ‘work from home’ policy: Only one-fourth of workers to come to office; CEO explains Vision 25×25

Recently, many global companies have also said that they will encourage employees to work remotely as the coronavirus pandemic-led lockdown makes it possible to work from home.

One of India’s largest software companies Tata Consultancy Services has said that by 2025, only one-fourth of its total workforce will be required to come to office for work, as many companies now opt work from home policy in the wake of the coronavirus pandemic. “Believe that by 2025, only 25% of our associates will need to work out of our facilities at any point of time; every associate will be able to