Foreign investors pull out USD 26 billion from Asian economies; USD 16 billion from India
Washington: Amidst the global economic recession due to the coronavirus pandemic, foreign investors have pulled out an estimated USD 26 billion from developing Asian economies and over USD 16 billion out of India, according to a Congressional report.
Foreign investors have pulled an estimated USD 26 billion out of developing Asian economies and more than USD16 billion out of India, increasing concerns of a major economic recession in Asia, independent Congressional Research Center said in its latest report on global economic effects of COVID-19.
In Europe, over 30 million people in Germany, France, the UK, Spain, and Italy have applied for state support, while first quarter 2020 data indicates that the eurozone economy contracted by 3.8 per cent, the largest quarterly decline since the series started in 1995, it said.
In the US, preliminary data indicated that the GDP fell by 4.8 per cent in the first quarter of 2020, the largest quarterly decline since the fourth quarter of 2008 during the global financial crisis, the CRS said.
According to CRS, the pandemic crisis is challenging governments to implement monetary and fiscal policies that support credit markets and sustain economic activity, while they are implementing policies to develop vaccines and safeguard their citizens.
In doing so, however, differences in policy approaches are straining relations between countries that promote nationalism and those that argue for a coordinated international response.
Differences in policies are also straining relations between developed and developing economies and between northern and southern members of the eurozone, challenging alliances, and raising questions about the future of global leadership, the report said.
While almost all major economies are shrinking as a result of coronavirus, only three countries China, India, and Indonesia are projected to experience small, but positive rates of economic growth in 2020, it said.
The IMF in its recent report argued that recovery of the global economy could be weaker than projected as a result of lingering uncertainty about possible contagion, lack of confidence, and permanent closure of businesses and shifts in the behaviour of firms and household, the CRS said.
It said public concerns over the spread of the virus have led to self-quarantines, reductions in airline and cruise liner travel, the closing of such institutions as the Louvre, and the rescheduling of theatrical releases of movies, including the sequel in the iconic James Bond series (titled, No Time to Die ).
School closures are affecting 1.5 billion children worldwide, challenging parental leave policies. Other countries are limiting the size of public gatherings.
The drop in business and tourist travel is causing a sharp drop in scheduled airline flights by as much as 10 per cent; airlines are estimating they could lose USD 113 billion in 2020 (an estimate that could prove optimistic given the Trump Administration's announced restrictions on flights from Europe to the United States and the growing list of countries that are similarly restricting flights).
Airports in Europe estimate they could lose USD 4.3 billion in revenue due to fewer flights, it said.
Industry experts estimate that many airlines will be in bankruptcy by May 2020 under current conditions as a result of travel restrictions imposed by a growing number of countries.
The loss of Chinese tourists is another economic blow to countries in Asia and elsewhere that have benefitted from the growing market for Chinese tourists and the stimulus such tourism has provided, it said.
The CRS said the decline in industrial activity has reduced demand for energy products such as crude oil, causing prices to drop sharply, which negatively affects energy producers and electric vehicle manufacturers, but generally is positive for consumers and businesses.
Further, disruptions to industrial activity in China reportedly are causing delays in shipments of computers, cell phones, toys, and medical equipment.
The factory output in China, the United States, Japan, and South Korea all declined in the first months of 2020.
Reduced Chinese agricultural exports, including to Japan, are leading to shortages in some commodities. In addition, numerous auto producers are facing shortages in parts and other supplies that have been sourced in China, CRS said.
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KMES Institutions shine in SSLC result, continue four-decade legacy of education in rural Karkala
Karkala: KMES Institutions of Education at Kukkundooru in Karkala taluk has recorded outstanding results in the 2025-26 SSLC and PUC examinations, continuing a four-decade educational journey that began with just 22 kindergarten students and no building of its own.
The institution secured a 100 per cent result in the SSLC examinations, with all 43 students passing the examination this year.
Muhammad Arman Shahid emerged as the school topper by scoring 619 marks out of 625, securing 99 per cent and also ranking sixth at the state level. He scored full marks in Kannada, Hindi, Mathematics and Social Science.
Krithika V. Nayak secured the second position in the school with 607 marks and 97.12 per cent, while Arhan stood third with 605 marks and 96.8 per cent.
Out of the 43 students, 21 passed with distinction, 19 secured first class, two students obtained second class and one student passed in third class. Fourteen students scored above 90 per cent.
The institution also performed strongly in the PUC examinations. The Science stream recorded a 100 per cent result, with all 44 students passing, while Commerce secured a 98 per cent pass percentage.
Twelve students scored full marks in different subjects, including Mathematics.
In Commerce, Deeksha Acharya topped the college with 588 marks, while Harshitha H. Kini secured the second position with 581 marks.
In Science, Naveen B. Nayak emerged as topper with 586 marks, followed closely by Sameeksha Moily and Aifa Nidha, who both secured 585 marks.
Speaking about the achievement, High School head teacher Shrimati Patkar said the institution has always focused on supporting academically weak students through affordable education and free special classes.
“Our ambition is to provide quality education even to students who struggle in studies. The fees are very low, and free coaching classes are conducted. I have worked here for 28 years and have always found the atmosphere supportive of education,” she said.
Primary School head teacher Lolita Zeena D’Silva appreciated the dedication of the teaching staff and said the school encourages students not only to achieve high marks but also to become role models.
PU College Principal Balakrishna Rao said the institution focuses on value-based education and overall personality development.
“The aim is to help students succeed not only academically but also in cultural activities, sports and leadership. We encourage qualities such as patience, tolerance and discipline,” he said.
Rao also credited the institution’s growth to the support of founders K.S. Mohammed Masood and K.S. Nissar Ahmed, along with President K.S. Imtiaz Ahmed.
Speaking on the occasion, Imtiaz Ahmed said the institution was built on the dream of making quality education accessible to financially backward families in rural areas.
He said the guidance and encouragement of his elder brothers, Mohammed Masood and Nissar Ahmed, along with the contribution of teachers, students and parents, helped transform the institution into a model educational centre.
The KMES Institutions trace their roots back to 1984, when they were founded by senior social activists Haji P.M. Khan, K.S. Nazeer Ahmed and Haji A.S. Rashid Haider.
The institution initially functioned from the Government Urdu School premises as it did not have a building of its own. Classes began with only 22 students in lower kindergarten and two teachers.
Later, under the leadership of K.S. Mohammed Masood and with continuous financial and moral support from non-resident businessman K.S. Nissar Ahmed, the institution gradually expanded.
In 1993, the school shifted to its own building and began conducting classes from LKG to Class 5.
As student admissions increased, Nissar Ahmed personally funded the construction of three additional classrooms to address infrastructure shortages.
The institution’s new school building was completed in 1997, while the PU College building was constructed in 2001.
From humble beginnings in a borrowed building to producing state-level rank holders and consistent academic results, the KMES Institutions have grown into one of the prominent educational centres in the Karkala region.
