Archive for ‘recovery’

12/02/2020

New confirmed coronavirus infections drop by nearly half in China: spokesperson

BEIJING, Feb. 12 (Xinhua) — The number of daily new confirmed cases of the novel coronavirus infection fell from a peak of 3,887 on Feb. 4 to 2,015 on Tuesday, with a decrease of 48.2 percent, according to the National Health Commission (NHC).

Noting that the epidemic situation remains grave at the moment, NHC spokesperson Mi Feng identified some positive changes in the statistics as a result of a series of effective measures.

For example, the number of newly reported suspected cases dropped by 37.3 percent from 5,328 on Feb. 5 to Tuesday’s 3,342.

He also highlighted the rapid increase in the number of people cured and discharged from hospitals, bringing the recovery rate to 10.6 percent by Tuesday from the lowest level of 1.3 percent on Jan. 27.

The overall confirmed cases on the Chinese mainland reached 44,653 by the end of Tuesday, and 16,067 people remain suspected of being infected with the virus.

A total of 4,740 people had been discharged from hospitals after recovery.

Source: Xinhua

25/08/2016

Indian Company Earnings are at Last Showing Some Signs of Recovery – India Real Time – WSJ

India Inc. is finally starting to report the kind of growth one would expect from companies in the world’s fastest-growing large economy.

India’s biggest companies have been stuck in a rut for the last two years even though the country surpassed even China in terms of gross domestic product growth and it voters picked a prime minister who pledged to boost business.

Last quarters’ earnings suggested things may at last be looking up.In the three months ended June, the net profit of companies in the benchmark index, the S&P BSE Sensex, rose 7% compared to a year earlier. While a few companies still haven’t announced results yet, so far it looks like the highest growth for Sensex companies in two years.

Take out the earnings at banks–which are being hurt as the Reserve Bank of India forced them to write off more soured loans–and the profit picture is even prettier. Profit at the non-financial Sensex companies jumped 15% during the quarter, according to data from broker Motilal Oswal Securities Ltd.

While the outlook on global demand is gloomy, hurting exporters and software companies, local demand is strong and getting stronger.

Workers at an IKEA carpet-making facility in Bhadohi, India, August 26, 2015. PHOTO: VIVEK SINGH FOR THE WALL STREET JOURNAL

“The earnings growth mostly came from companies focused on domestic demand rather than companies relying on global markets,” said Vivek Mahajan, head of research at Aditya Birla Money.

Companies selling products to people in India can expect even more demand later this year as above-average monsoon rains bolster farmers’ incomes and government employees receive a massive wage hike, he said.

Sectors such as cement, consumer goods, and auto makers are going to be big beneficiaries of the rising consumer demand.

Source: Indian Company Earnings are at Last Showing Some Signs of Recovery – India Real Time – WSJ

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