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Tag: rising

Rising debt is a ‘very serious issue’ that governments face, says Singapore minister

Finance
SINGAPORE — One of the biggest challenges that governments will face in the next decade is bringing down debt, a senior minister in Singapore said on Monday.Governments around the world have increased spending to support their economies hit hard by the coronavirus pandemic. Some have to borrow more to do so — which is a "sensible economic strategy" when confronted with the current crisis and uncertainties, said Tharman Shanmugaratnam, Singapore's senior minister and coordinating minister for social policies.But "the big issue in the next decade is how to ensure that debts are sustainable," said Tharman, a well-known economic and finance expert, at the opening day of the virtual Singapore Summit.He added that the new high levels of debt that many countries are moving toward cannot cont
Ozone levels across Northern Hemisphere have been rising for 20 years

Ozone levels across Northern Hemisphere have been rising for 20 years

Science
Aug. 21 (UPI) -- While emission levels for ozone-forming chemicals have fallen in some North American cities, new research suggests tropospheric ozone levels have increased across the Northern Hemisphere over the last 20 years. In the upper layers of the atmosphere, the ozone layer helps protect Earth and its inhabitants from harmful ultraviolet radiation. Advertisement But closer to Earth's surface, ozone causes problems. In addition to accelerating climate change, the greenhouse gas can harm people's lungs and damage plants. "Ozone is a secondary gas, which means that it is not directly emitted," lead researcher Audrey Gaudel, a scientist with the Cooperative Institute for Research in Environmental Sciences at the University of Colorado, told UPI in an email. "It is formed photochemica...
Repayment rising in micro loans; mixed bag for MSME, retail

Repayment rising in micro loans; mixed bag for MSME, retail

Finance
KOLKATA: Repayment collection has been on the upswing in the microfinance sector in lockstep with the stage-gated revival of business in various parts of India, raising expectations of higher cash flows and lower delinquencies for lenders than anticipated earlier, while it's mixed bag for the MSME and retail segments, people familiar with the matter said. About 25-40 per cent of microfinance borrowers have started paying back their dues at the end of May, better than April's 10-15 per cent, as borrowers exhibited improved credit discipline although they could have used the grace period allowed until August 31 by the Reserve Bank of India (RBI). Industry captains expect better June cash flows with routine office attendance resuming in the first phase of the unlocking. Ratio of retail and MS...
Microfinance lenders aim at repayment collection, restoring credit cycle amid rising stress

Microfinance lenders aim at repayment collection, restoring credit cycle amid rising stress

Finance
KOLKATA: Microfinance firms and small finance banks are desperately looking to boost repayment collection to revive cash flow and resume loan disbursement to restore normalcy in credit cycle even as the Reserve Bank of India extended moratorium on payment till August 31 for borrowers under stress. The prime concern expressed by microfinance leaders now is that the extended moratorium might increase stress and derail the robust credit discipline that they nurtured over the years. "It's a disaster," said a chief executive of an MFI. "Many of the borrowers may not able to service loans after the six month of repayment holiday." Merely about 15% borrowers have shown willingness to start repayment till the third week of May, people familiar with the matter said. Repayment rates were down to 12...
The urgency for the film industry to find a solution to COVID-19 is rising

The urgency for the film industry to find a solution to COVID-19 is rising

Entertainment
Not unlike the aviation industry, it's difficult to envisage how social distancing will work in the cinema.But as the UK Cinema Association plots its comeback, the film industry faces not just angst but conflict during the coronavirus lockdown. Zygi Kamasa, chief executive of Lionsgate UK, has organised a streaming event to raise funds for two causes. Image: Lionsgate is streaming films including The Hunger Games and Eddie The Eagle (below) to raise funds for charity. Pics: Lionsgate In a bid to bring back the notion of Saturday night at the movies, the film company is streaming its four most popular films - La La Land, Bend It Like Beckham, Eddie The Eagle and The Hunger Games - weekly on YouTube to raise ...