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Taiwan’s export orders grew by more than expected in June and the government said the outlook for the island’s tech goods remains strong on demand for high-end chips.

World Business Watch: Taiwan export orders expand for 16th month

Rating agency Crisil Ratings Wednesday said collection ratios in securitised pools have seen a dip during the second wave of the Covid-19 pandemic.

The agency said unlike in the first wave, the decline in the second wave has not been as sharp for two reasons - localised restrictions limited the impact on business activity, and lack of moratorium from lenders meant that borrowers could not postpone their debt repayments.

Its Senior Director and Deputy Chief Ratings Officer Krishnan Sitaraman said in the first wave, collections fell as the majority of borrowers availed of moratorium relief and collections staff were unable to move around due to the stringent lockdowns.

"This prompted many financing entities to explore digital collection – an avenue that has played an important role in preventing a similar fall in collections during the second wave," he said.

Securitisation is the process of pooling and repackaging of homogenous illiquid financial assets into marketable securities that can be sold to investors.

Non-banking financial companies (NBFCs) have been also reworking their collection process since the onset of the pandemic by increasingly adopting electronic modes such as auto-debit, payment gateways and dedicated applications, the agency said in a report.

Such productivity enhancement was one of the reasons for the sharp recovery in collection ratios of securitised pools during the second half of last fiscal, it said.

"As more businesses set up online modes for business continuity, their cash flows become less prone to disruption," the report said.

Mortgage loans remained the most resilient of all asset classes.

The agency said while commercial vehicle loans saw a dip in median collection ratios of almost 11 percentage points in May 2021, it expects the collections to improve going forward in line with the recovery expected in the economic activity.

MSME (micro, small and medium enterprises) and microfinance borrowers are relatively more vulnerable and pools comprising these asset classes reflect as much with decline in median collection ratios in May 2021 of 12 percentage points and 6 percentage points, respectively, it said.

The report said as the second wave subsides, financing institutions are expected to make their business models more robust to incorporate resilience to such disruptions in their normal course of business.

While the focus is on collections from borrowers, lenders would benefit also by evolving suitable business models embracing digitisation for origination as well, it said.

"While the country moves towards pre-pandemic normal in several other aspects, digital collections are expected to continue, and digital originations may also make their way, given the low cost of managing these and the ease they offer to borrowers," the agency''s Senior Director Rohit Inamdar said.

Rating agency Crisil Ratings Wednesday said collection ratios in securitised pools have seen a dip during the second wave of the Covid-19 pandemic. The agency said unlike in the first wave, the decline in the second wave has not been as sharp for two reasons - localised restrictions limited the impact on business activity, and lack of moratorium from lenders meant that borrowers could not postpone their debt repayments.

Rating agency Crisil Ratings Wednesday said collection ratios in securitised pools have seen a dip during the second wave of the Covid-19 pandemic. The agency said unlike in the first wave, the decline in the second wave has not been as sharp for two reasons - localised restrictions limited the impact on business activity, and lack of moratorium from lenders meant that borrowers could not postpone their debt repayments. Its Senior Director and Deputy Chief Ratings Officer Krishnan Sitaraman said in the first wave, collections fell as the majority of borrowers availed of moratorium relief and collections staff were unable to move around due to the stringent lockdowns. "This prompted many financing entities to explore digital collection – an avenue that has played an important role in preventing a similar fall in collections during the second wave," he said. Securitisation is the process of pooling and repackaging of homogenous illiquid financial assets into marketable securities that can be sold to investors. Non-banking financial companies (NBFCs) have been also reworking their collection process since the onset of the pandemic by increasingly adopting electronic modes such as auto-debit, payment gateways and dedicated applications, the agency said in a report. Such productivity enhancement was one of the reasons for the sharp recovery in collection ratios of securitised pools during the second half of last fiscal, it said. "As more businesses set up online modes for business continuity, their cash flows become less prone to disruption," the report said. Mortgage loans remained the most resilient of all asset classes. The agency said while commercial vehicle loans saw a dip in median collection ratios of almost 11 percentage points in May 2021, it expects the collections to improve going forward in line with the recovery expected in the economic activity. MSME (micro, small and medium enterprises) and microfinance borrowers are relatively more vulnerable and pools comprising these asset classes reflect as much with decline in median collection ratios in May 2021 of 12 percentage points and 6 percentage points, respectively, it said. The report said as the second wave subsides, financing institutions are expected to make their business models more robust to incorporate resilience to such disruptions in their normal course of business. While the focus is on collections from borrowers, lenders would benefit also by evolving suitable business models embracing digitisation for origination as well, it said. "While the country moves towards pre-pandemic normal in several other aspects, digital collections are expected to continue, and digital originations may also make their way, given the low cost of managing these and the ease they offer to borrowers," the agency''s Senior Director Rohit Inamdar said.

Securitised pool collection ratios dip during second Covid wave: Crisil

According to the data released by the Directorate General of Civil Aviation (DGCA), India's domestic air passenger traffic grew 47 per cent in June as compared to May.

World Business Watch: India air passenger traffic grows 47% in June

Suzuki Motor will enter the electric vehicle (EV) market by 2025 starting in its stronghold market, India. Reports say the automaker plans an all-electric compact model to be made available for around $13,600 after government subsidies are taken into account.

World Business Watch: Suzuki to enter electric vehicle market by 2025, starting with India

Closing out its worst day since March this year oil prices slumped $5 a barrel on Monday, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.

World Business Watch: Oil prices slip after OPEC and allies reach deal to boost supply

Japan's core consumer prices rose 0.2% in June from a year earlier to mark the fastest annual pace in over a year, in a sign that the impact of global commodity inflation was gradually broadening.

World Business Watch: Japan's core inflation hits 15-month high on energy costs

At a time Indian markets are hovering around new peaks, we talk to experts to ask them if the markets are overvalued, is it a bubble waiting to burst, or is this a rally driven by strong fundamentals. We also ask experts about the potential of Indian unicorns that are trying to unlock value through the listing.

Are stock markets overvalued? Will it be easy to pass the market bubble?

According to a report, the proportion of women on the board at 200 of Britain’s top financial firms has risen to nearly a third in the five years since the government launched an initiative to improve gender balance in the sector.

World Business Watch: Report says women make up nearly a third of financial service firm boards

Minneapolis Federal Reserve President Neel Kashkari said many US economic sectors faced rapidly rising prices and were struggling to adjust to reopening after the shutdown.

World Business Watch: Fed's Kashkari says many US sectors struggling to adjust to reopening

Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

World Business Watch: Oil falls more than 1% after OPEC+ agrees to boost supply

The number of Americans filing new claims for unemployment benefits fell to a 16-month low-level last week as the labor market gains traction, but worker shortages and bottlenecks in the supply chain are frustrating efforts by businesses to ramp up production to meet strong demand for goods and services.

World Business Watch: US weekly jobless claims at 16-month low, shortages hamper manufacturing

The Federal Aviation Administration (FAA) issued a directive to operators of all Boeing 737 series airplanes to conduct inspections to address possible failures of cabin altitude pressure switches.

World Business Watch: FAA orders checks on 9,300 Boeing 737 planes for possible switch failures

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues.

The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose.&nbsp;

Today's tumultuous trade saw the benchmark S&amp;P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point.

In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively.&nbsp;

(With inputs from agencies) 
&nbsp;

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks. The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose. Today's tumultuous trade saw the benchmark S&P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point. In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively. (With inputs from agencies)

Sensex and Nifty ended flat dragged by losses in IT and banking

The Reserve Bank of India (RBI) barred Mastercard from acquiring new customers starting July 22. The payments operator has been barred from adding domestic customers across three categories of cards – debit, credit as well as prepaid.

World Business Watch: RBI bars Mastercard from adding new clients in India from July 22

General Motors has urged owners of 2017-2019 Bolt EVs that were part of a recent recall not to park their vehicles inside or charge them unattended overnight after two of the vehicles caught fire.

World Business Watch: GM warns some Bolt EV owners to park outside because of fire risks

China's economic growth has more than halved in the second quarter from a record expansion in the first three months of the year, as slowing manufacturing activity, higher raw material costs, and new COVID-19 cases weighed on the recovery momentum.

World Business Watch: China's economic growth more than halves in second-quarter

Global markets are once again touching new highs, US markets are at a record high already. There are multiple risks that are being faced by economies as well. What is the outlook for global economies and what is the way ahead? Daily Effects Strategist from Asian Financial Hub Singapore, Margaret Yang Yen talks to WION on these issues.

Global stock markets likely to be range bound says Margaret Yang, Strategist DailyFX

In a double hit to the US planemaker's COVID-19 pandemic recovery, Boeing said it will cut 787 production after finding another production-related structural defect, and a major customer partially canceled a 737 MAX order.

World Business Watch: Boeing cuts 787 production after discovering new flaw

As part of a broader package of green initiatives aimed at achieving net-zero emissions from all forms of transport ten years later, Britain will ban the sale of new petrol and diesel heavy good vehicles from 2040.

World Business Watch: Britain to ban sale of new diesel and petrol heavy goods vehicles from 2040

Japanese automaker Mitsubishi Motors confirmed that it paid a $29.7 million fine issued by German prosecutors over emissions fraud allegations earlier this year.

World Business Watch: Dieselgate costs Mitsubishi $29.7 million penalty in Germany

In a bid to facilitate a broader global tax deal, the European Union has agreed to delay a corporate tax plan for the bloc following pressure from the US administration, but EU member Ireland reiterated its criticisms of the wider reform.

World Business Watch: After US push, EU pauses tax plan but Ireland sticks to its guns

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well.

BHIM is the second Indian payment gateway to be launched in the country after RuPay.

The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi.

Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia.

India and Bhutan share very close ties, defined as a "special relationship".

Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).

India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI). The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well. BHIM is the second Indian payment gateway to be launched in the country after RuPay. The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi. Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia. India and Bhutan share very close ties, defined as a "special relationship". Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.

Indian mobile payment App BHIM to be launched in Bhutan today 

Egypt’s Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 billion in the previous year despite the coronavirus pandemic’s effect on world trade as well as a six-day blockage by a giant Ever Given cargo ship.

Egypt’s Suez Canal reports record revenue despite Ever Given ship blockage

Asia's largest economy China has said that it resolutely opposes the addition of 23 Chinese entities to a US economic blacklist over issues including alleged human rights abuses and military ties.

China condemns 'unreasonable suppression' as US expands economic blacklist

Virgin Galactic on Monday announced plans to sell up to $500 million worth of shares. The announcement came in after the company successfully finished its first fully crewed test flight into space with billionaire founder Richard Branson on board.

Soon after the announcement, Virgin Galactic's shares rose by 8 per cent premarket, but soon fell 10 per cent in early trading.

Branson's trip upstaged rival space tourism venture Blue Origin and its founder Jeff Bezos. The ongoing tussle has been called the "billionaire space race". Bezos is slated to fly to space on July 20 along with his brother Mark. Bezos founded the retail giant Amazon.com Inc.

According to the Swiss investment bank UBS, the potential value of space tourism could reach $3 annual value by 2030.

Virgin Galactic is expected to begin commercial space operations next year with two flights planned in the coming months. The company was founded in 2004.

After a successful trip to space, Richard Branson has urged young people to achieve their dreams and aim for the stars, quite literally.

Also read:&nbsp;<a href="http://13.235.153.162/world/generation-of-dreamers-richard-branson-leaves-message-for-youngsters-after-space-trip-397681" hreflang="en">'Generation of dreamers': Richard Branson leaves message for youngsters after space trip</a>

Giving out the message of never giving up, Branson told youngsters in a tweet, "To the next generation of dreamers: if we can do this, just imagine what you can do". Branson said he had always wanted to fly high and his dream has come true as he became one of the first humans to travel on commercial spaceflight.

"I was once a child with a dream looking up to the stars. Now I'm an adult in a spaceship looking down to our beautiful Earth," he said in a live feed video.

Also read:&nbsp;<a href="http://13.235.153.162/science/watch-richard-bransons-spaceflight-touches-down-after-successful-trip-to-space-397445" hreflang="en">WATCH| Richard Branson's spaceflight touches down after successful trip to space</a>

Branson believes space is 'for all humanity' and has thus teamed up with Omaze to give interested candidates a chance to travel to space. Interested people can now fill in their details on Omaze.com/space.

"Every charitable donation goes to support Space For Humanity and you’ll be entered into the Omaze sweepstake for the chance to win two seats aboard one of the first commercial Virgin Galactic space flights," Branson announced.

Virgin Galactic on Monday announced plans to sell up to $500 million worth of shares. The announcement came in after the company successfully finished its first fully crewed test flight into space with billionaire founder Richard Branson on board.

Virgin Galactic on Monday announced plans to sell up to $500 million worth of shares. The announcement came in after the company successfully finished its first fully crewed test flight into space with billionaire founder Richard Branson on board. Soon after the announcement, Virgin Galactic's shares rose by 8 per cent premarket, but soon fell 10 per cent in early trading. Branson's trip upstaged rival space tourism venture Blue Origin and its founder Jeff Bezos. The ongoing tussle has been called the "billionaire space race". Bezos is slated to fly to space on July 20 along with his brother Mark. Bezos founded the retail giant Amazon.com Inc. According to the Swiss investment bank UBS, the potential value of space tourism could reach $3 annual value by 2030. Virgin Galactic is expected to begin commercial space operations next year with two flights planned in the coming months. The company was founded in 2004. After a successful trip to space, Richard Branson has urged young people to achieve their dreams and aim for the stars, quite literally. Also read: 'Generation of dreamers': Richard Branson leaves message for youngsters after space trip Giving out the message of never giving up, Branson told youngsters in a tweet, "To the next generation of dreamers: if we can do this, just imagine what you can do". Branson said he had always wanted to fly high and his dream has come true as he became one of the first humans to travel on commercial spaceflight. "I was once a child with a dream looking up to the stars. Now I'm an adult in a spaceship looking down to our beautiful Earth," he said in a live feed video. Also read: WATCH| Richard Branson's spaceflight touches down after successful trip to space Branson believes space is 'for all humanity' and has thus teamed up with Omaze to give interested candidates a chance to travel to space. Interested people can now fill in their details on Omaze.com/space. "Every charitable donation goes to support Space For Humanity and you’ll be entered into the Omaze sweepstake for the chance to win two seats aboard one of the first commercial Virgin Galactic space flights," Branson announced.

Virgin Galactic files for $500 million stock sale after spaceflight success

Stellantis is betting big on electrification. The world’s fourth-largest automaker announced it will invest $35.5 billion over the next five years in a chase to lead the industry, or to at least keep up.

World Business Watch: Stellantis makes $35.5 billion bet on electric vehicle market