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Indian GDP: Big decline will still come



India enters fourth phase of nationwide lockdown

GDP increased by 3.1% in the three months to March, according to government data published Friday. That is a step faster than economists had predicted, but still the weakest number since comparable records began in 2012.

India’s economy has slowed long before the coronavirus pandemic struck, with the rate of expansion slipping to half of what happened three years ago when consumer demand diminished and the country The automotive sector is experiencing difficulties.

But more pain is on its way to Asia’s third largest economy. Data for the first three months of the year did not fully capture the impact of national lockdown imposed at the end of March as authorities sought to stem the spread of the coronavirus pandemic.

The lockdown has caused a significant decline in activity, according to Shilan Shah, senior Indian economist at Capital Economics. He said in a research note published before the GDP data was released that “almost every economic indicator” had experienced the “steepest decline on record.” Capital Economics has forecast a 1.5% contraction for the quarter.

“The decline in most of these indicators has deepened in April,” Shah added, referring to important signs of economic activity in India such as tourist arrivals, train passengers and vehicle production. He said that despite restrictions eased this month – the airport just reopened earlier this week, for example – the possibility of sharper contractions in the current quarter.

Friday’s announcement came a week after Reserve Bank of India chief Shaktikanta Das warned that GDP would fall for the fiscal year 2020-2021, which ends next March. The last time the Indian economy had shrunk for a year was in 1979.

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Das made a projection while announcing a number of new steps to prop up an ailing economy.

He announced that the central bank would cut lending rates from 4.4% to 4%. The bank also extended the three-month debt moratorium it offered to small and medium businesses for 90 days.

Das does not rule out the possibility of introducing other measures as the pandemic develops.

Prime Minister Narendra Modi also said the government committed $ 266 billion to support the economy, including measures to increase liquidity for businesses and a previous stimulus package of $ 23 billion intended to help poor countries.

– Rishabh Madhavendra Pratap and Michelle Toh contributed to this report.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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