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India’s small exporters reel as Red Sea crisis helps rivals nab business
Many suppliers sign export deals on a cost, insurance and freight...
Majority of Indian enterprises have deployed AI: IBM report
''Without the use of governance tools, AI can expose companies to...
Southeast Asia poverty to surge in ‘socio-economic crisis’:U.N.
“Without alternative income, formal social protection systems or savings to buffer these shocks, workers and their families will be pushed into poverty, reversing decades of poverty reduction.”
The region-wide economy was expected to contract by 0.4 per cent in 2020, it said, while remittances from Southeast Asians working abroad were likely to fall by 13 per cent or $10 billion.
Large U.S. COVID-19 vaccine trials will exclude pregnant women for now
Bioethicists, vaccine and maternal health experts have argued for years that pregnant women should be included early in trials of pandemic vaccines so they would not need to wait until long after a successful candidate emerges. That debate fell on deaf ears in recent outbreaks of Ebola and Zika, but has taken on new urgency in the era of COVID-19, as studies show pregnant women are at increased risk of severe disease from the new coronavirus.
Gilead raises sales outlook to include COVID-19 treatment remdesivir
Demand for remdesivir continues to outstrip supply in many parts of the world.
Gilead’s chief executive, Daniel O’Day, on a conference call, said the company expects by the end of September to be producing enough remdesivir to meet real-time global demand.
Gilead said it still expects to manufacturer 2 million or more remdesivir treatment courses cumulatively in 2020, and its revenue outlook reflects expected sales of up to 1.5 million courses this year.
U.S.consumer spending presses ahead; declining income poses challenge
The extra unemployment checks are worth about $75 billion per month and accounted for nearly 5% of personal income in June. A staggering 30.2 million Americans were receiving unemployment checks in the week ending July 11. Though government welfare payments have been declining after jumping 110% in April, unemployment benefits increased 8.5% in June.
Consumers socked away $1.3 trillion over the last three months. Savings funded spending last month, pulling the saving rate down to a still-high 19% from 24.2% in May.
India sees record spike of 52,123 COVID-19 cases, recoveries cross 10 lakh
Of the 775 fresh deaths, 298 are from Maharashtra, 92 from Karnataka, 82 from Tamil Nadu, 65 from Andhra Pradesh, 41 from West Bengal, 33 from Uttar Pradesh, 26 from Delhi, 25 from Punjab, 24 from Gujarat, 15 Jammu and Kashmir, 13 from Madhya Pradesh, 12 from Telangana.?
India found cybersecurity lapses at National Payments Corp in 2019 – government document
The March 2019 government document cited the storing of 16-digit card numbers and other personal information such as customer names, account numbers and national identity numbers in “plain text” in some databases, leaving the data unprotected if the system was breached. The audit has not previously been reported.
Global health agencies fear wealthier countries will go it alone on Covid-19 vaccines
“There is a risk that some countries are doing exactly what we feared – which is every man for himself,” said Gayle Smith, former head of the US Agency for International Development and CEO of the One Campaign, a non-profit aimed at ending poverty and preventable disease.
Deadline for filing I-T returns extended till Sept 30
In March,the due date for filing I-T returns was extended from March 31 to June 30. Later in June, it was again extended by a month till July 31.
Meanwhile, markets regulator Sebi on Wednesday gave relaxation of one month till September 15 to listed companies for submitting their June quarter results amid coronavirus pandemic.
Coastal flooding could hit 20% of world GDP by 2100 – study
Flood events that have typically occurred once in 100 years “could occur as frequently as once in 10 years” for much of the world, said the authors of the report, including researchers at the universities of Amsterdam, Melbourne and the Global Climate Forum.
Cigna profit gets boost from lower costs as patients delay surgery
“COVID-19 costs will continue to rise just as the cases will continue to grow … However, the assumptions that the companies are building in around the non-COVID-19 related healthcare utilization probably accelerating in the back half of the year may be overly conservative,” Stephens analyst Scott Fidel said.