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World Bank says goal of ending extreme poverty by 2030 won’t be met
The COVID-19 pandemic marked a historic turning point after decades...
Dementia: WHO launches blueprint to tackle generational health challenge
Soumya Swaminathan,Chief Scientist, WHO Although dementia is the...
WTO says global trade collapse may be worst in a generation
In an optimistic scenario, the WTO said global merchandise trade could fall 13% in 2020 and rebound 21% in 2021 — compared with a 0.1% contraction in 2019. In the optimistic scenario, gross domestic product could contract by 2.5% in 2020 and grow by 7.4% in 2021.
In a pessimistic case, the volume of global goods trade could drop by as much as 32% this year with the possibility of a 24% increase next year. In this situation, world GDP could shrink by as much as 8.8% in 2020 and expand by 5.9% in 2021.
Global economy faces a $5 trillion hit due to Covid-19. That’s more than Japan’s GDP
Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground. Even with unprecedented levels of monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022.
Centre launches “iGOT” training module for frontline COVID-19 warriors
Courses on iGOT have been launched for doctors, nurses, paramedics, hygiene workers, technicians, Auxiliary Nursing Midwives (ANMs), State Government officers, civil defence officers, various police organisations, National Cadet Corps (NCC), Nehru Yuva Kendra Sangathan (NYKS), National Service Scheme, Indian Red Cross Society, Bharat Scouts and Guides and other volunteers.
After virus fades, service industries may be changed forever
The pandemic is almost sure to leave a mark on the way people work, shop and socialize, perhaps permanently shifting the way many service industries operate. Consumers will think harder about the health implications of squeezing into crowded restaurants and movie theaters. More businesses will accept the effectiveness of employees who work from home, and the move to online shopping will accelerate
Caronavirus Pandemic:Cases rise to 6,588 , death toll at 199
The Centre on Thursday approved Rs 15,000 crore as part of India’s Emergency Response and Health System Preparedness Package to tackle the pandemic. The administration also said it has got on board 20 domestic manufacturers of personal protection equipment and had already ordered 1.7 crore kits. At its daily press briefing, the health ministry said it had requisitioned 49,000 ventilators.
RBI says coronavirus has ‘drastically altered’ India’s growth outlook
“While efforts are being mounted on a war footing to arrest its spread, COVID-19 would impact economic activity in India directly through domestic lockdown. Second round effects would operate through a severe slowdown in global trade and growth,” the central bank said.
SC order for free Covid-19 testing may hinder fight,say experts
To beef up the infrastructure for screening, the government approved 56 laboratories for testing in addition to 136 government-run labs and set a price cap of 4,500 Indian rupees ($59.13) for every test.
The plan is to scale up to 20,000 tests in the next few days and eventually to 100,000 a day in the worse-case scenario.
But the court decision threatens to derail the plan to widen testing, said Shamika Ravi, a former member of the Indian Prime Minister’s Economic Advisory Council and a health specialist.
Coronavirus impact on Swiss Re absolutely manageable,says official
Schmid said that he expected to see an increase in demand for coverage against pandemics. But insurers’ capacity to take on such a systemic risk has limits and governments must also be involved, he said
China’s Wuhan lockdown ends, but another begins as local coronavirus cases rise
Asymptomatic patients and imported infections have become China’s chief concern.
Mainland China’s new coronavirus cases doubled in 24 hours as the number of infected overseas travellers surged, and new asymptomatic infections more than quadrupled.
IRDA allows 3 months moratorium on repayment of term loans sanctioned by insurers
IRDAI has allowed insurers to grant a moratorium of three months towards payment of instalments falling due between 1st March, 2020 and 31st May, 2020. The repayment schedule for such loans and also the residual tenor, will be shifted across the board by three months subsequent to the moratorium period.