Niramala Sitharaman,Union Finance Minister ''MDs from the banks...
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Amit Shah announces disaster management schemes worth Rs 8,000 crore
Amit Shah,Union Home Minister "A total of Rs 5,000 crore project to...
Cyclone ‘Biparjoy’ may cause extensive damage, Reliance suspends Sikka diesel exports
Cyclone 'Biparjoy' may cause extensive damage and it is likely to...
Covid-19 could cause economic loss up to $8.8 trn, 9.7% of global GDP: ADB
The ADB’s forecast, equal to 6.4% to 9.7% of global gross domestic product, was worse than projections in April when it said the global economy could suffer between $2.0 trillion and $4.1 trillion in losses, depending on how long containment measures were in place.
Measures to contain the spread could inflict $1.7 trillion to $2.5 trillion in economic losses in Asia, and between $1.1 trillion and $1.6 trillion in China, the ADB said.
Death toll due to COVID-19 rises to 2,649; cases climb to 81,970: Health Ministry
Of the 100 deaths reported since Thursday morning, 44 were in Maharashtra, 20 in Gujarat, 9 in Delhi, 8 in West Bengal, five each in Uttar Pradesh and Madhya Pradesh, four in Rajasthan, two each in Tamil Nadu and Karnataka and one in Andhra Pradesh.
Temperature checks, masks the new normal for air travel, says Dubai airport CEO
Countries who have the spread of the virus under control and agree to reopen their borders to each other are likely to drive air travel demand over the near term, Griffiths said, but it is impossible to say when travel could return pre-pandemic levels.
U.N. warns of global mental health crisis due to COVID-19 pandemic
The UN report outlined action points for policy-makers to aim “to reduce immense suffering among hundreds of millions of people and mitigate long-term social and economic costs to society”.
These included redressing historic under-investment in psychological services, providing “emergency mental health” via remote therapies such as tele-counselling for frontline health workers, and working proactively with people known to have depression and anxiety, and with those at high risk of domestic violence and acute impoverishment.
WeWork directors seek to preserve right to sue SoftBank over failed $3 billion tender
In the motion, WeWork’s special committee, filed a “status quo order” which would preserve the committee’s authority pending the outcome of the legal case between WeWork and SoftBank. A judge in Delaware court last month set the trial date for the case for early January.
Lloyd’s of London to pay up to $4.3 billion in coronavirus claims
Insured losses are likely to total $107 billion, similar to natural catastrophe losses in 2005 led by Hurricanes Katrina, Rita and Wilma and to 2017 including Hurricanes Harvey, Irma and Maria, Lloyd’s said.
Global trade fell 3% in Q1 of 2020 due to Covid-19; may slide further: UN
“Everywhere governments are pressed to make post-Covid-19 recovery decisions with long-lasting consequences,” said UNCTAD Secretary-General Mukhisa Kituyi.
Sitharaman unveils second tranche of relief for migrant workers, small farmers & poor
The Central government has also asked states to use the State Disaster Response Fund (SDRF) to set up shelters and provide food and water to the urban poor, including migrant labourers. Rs 11,000 crore was sent for this purpose, said Finance Minister Nirmala Sitharaman
National Portability Ration Cards can be used in any ration shops that will be applicable across the country. By Auguist 2020, 67 cr beneficiaries in 23 states or 83 per cent of all PDS beneficiaries will get covered. By March 2021, 100 per cent will be covered, she said.
Germany must stabilise social security system with cash injection: officials
The German economy, Europe’s largest, is facing its deepest recession since World War Two even though a lockdown to contain the spread of the virus is being gradually eased. The plunge in business activity is expected to push down tax revenues and tear a gigantic hole in the public finances.
Fitch highlights India’s two big challenges in fight against coronavirus
It also said that the growth within India’s pharmaceuticals and healthcare market will be supported by the government’s push towards achieving universal health coverage status.