Xinhua world economic news summary at 0900 GMT, Jan 6
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World Bank: Financial fragilities in many countries need addressing
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Sensex Halts 10-Day Winning Run, Sheds Over 250 Points Sensex Halts 10-Day Winning Run, Sheds Over 250 Points The benchmark indices ended in the negative on Wednesday, bringing the 10-day rally to a halt, due the onset of weakness in Reliance Industries and ITC in the late afternoon
Reliance Industries, ITC and IT stocks led the decline in the markets, post a 10-day run.
The benchmark indices ended in the negative territory on Wednesday, bringing the 10-day rally to a halt, a day after the World Bank said India s economy is estimated to contract 9.6 per cent in the current financial year. The 30-scrip index had jumped 178.87 points, or 0.37 per cent, to touch 48,616.66 in the first few minutes of trade, and the broader NSE Nifty 50 benchmark added 44.65 points (0.31 per cent) to 14,244.15 - both all-time highs.
09:04 | Lima, Jan. 6. The World Bank has projected that Peru will be one of the countries with the strongest economic growth in Latin America and the Caribbean this year, with a forecast of 7.6% growth in 2021.
This was disclosed in the January 2021 edition of the Global Economic Prospects report, which predicts a 12% contraction for Peru in 2020. Growth in Peru is poised to recover to 7.6% this year after suffering one of the region s deepest recessions in 2020 amid a particularly large COVID-19 outbreak (.), the multilateral organization said.
The World Bank stated that growth in Peru will benefit from rising copper prices and ongoing easy monetary policy.