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Here is a masonry blog layout with no sidebarSouth Asia faces worst ever recession, tipping millions into poverty: World Bank
“The impact on livelihoods will even be larger than the GDP forecast suggests…This implies that the region will experience a sharp increase in the poverty rate,” the bank said in its bi-annual report.
India, the region’s biggest economy, is likely to see its economy contract by 9.5% this year, the report said.
WHO reports record one-day rise in global coronavirus cases amid European outbreak
As a region, Europe is now reporting more cases than India, Brazil or the United States.
According to a Reuters analysis of more recent country data, COVID-19 infections are rising in 54 countries, including surges in Argentina, Canada and much of Europe.
Infections in the United Kingdom have reached record levels with over 17,000 new cases reported on Thursday.
“We are seeing a definite and sustained increase in cases and admissions to hospital. The trend is clear, and it is very concerning,” said Dr Yvonne Doyle, medical director for Public Health England.
Paytm targets a million apps on its mini app store to take on Google
For Google, the face-off against Paytm and other Indian app startups creates a new problem in one of its top growth markets, where it has committed to spend around $10 billion over the next five to seven years through equity investments and tie-ups.
Google also faces four antitrust cases in India, the latest of which alleges the Mountain View, California-based tech giant abused its Android operating system’s dominant position to garner an unfair advantage in the smart TV market.
Google has denied any wrongdoing.
Hedge funds make pandemic bet on insurance
Investors reckon that in a world where virus outbreaks and climate disasters may be the new normal, innovative new insurance products such as those providing relief during future lockdowns or when staff sickness hinders business, will prove lucrative.
Even while share prices remain subdued, insurers’ debt sales for the most part have been oversubscribed this year, thanks to strong credit quality, typically in the single-A category.
Ant Group’s $35 bln IPO unlikely to be hurt by possible U.S. curbs
Ant is working towards a dual-listing in Shanghai and Hong Kong possibly as soon as this month in what sources have said could be the world’s largest IPO, surpassing oil giant Saudi Aramco’s 2222.SE $29.4 billion float in December.
U.S. President Donald Trump is considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba and Tencent over concerns their payment platforms threaten national security, Bloomberg News reported on Wednesday.
If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the U.S. financial system before they become a significant competitive threat.
U.S. forecaster sees 85% chance of La Niña through winter
AXA XL announces appointments for Asia & Europe Business Unit
India’s coronavirus infections rise by 70,496 to 6.91 million
The COVID-19 case fatality rate due to the coronavirus infection was recorded at 1.54 per cent.
India’s death toll from the novel coronavirus rose past 100,000 on Saturday, only the third country in the world to reach that bleak milestone, after the United States and Brazil, and its epidemic shows no sign of abating.
Who pays for the toilet paper? The big questions of the work-from-home era
Of course, the 2 euros a day is for an average worker with average costs, but can be tweaked depending on measures such as home heating and water costs, or the quality of insulation.
It does not cover new furniture, computers, phones, or other equipment which NIBUD says employees should receive from their employers if necessary for their work.
Indian CEOs less confident about economic growth; 62% took pay cuts: KPMG Survey
Majority in 14 most-advanced nations perceive China negatively: Pew survey
Google faces antitrust case in India over abuse in smart TVs market: Report
The case has been filed by two Indian antitrust lawyers, Kshitiz Arya and Purushottam Anand. They both confirmed the case filing against Google for alleged abuse in the smart television market, but declined to comment further.
The case is Google’s fourth major antitrust challenge in India, one of its key markets where it is currently facing public criticism from local startups for enforcing certain policies and company charges they contend hurt their growth.
Working from home can feel like sleeping at work: Microsoft’s Satya Nadella
September was world’s hottest on record, EU climate change service says
Extending a long-term warming trend caused by emissions of heat-trapping gases, high temperatures this year have played a major role in disasters from fires in California and the Arctic to floods in Asia, scientists say.
“As we go into an even warmer world, certain extremes are likely to happen more often and be more intense,” Copernicus senior scientist Freja Vamborg told Reuters, pointing to heat waves and periods of intense rain as examples of this.
Safety of employees, customers, and quality of loan book top priorities for new SBI chief
IRDA allows portability of group health insurance schemes within the same bank
DGCA issues detailed refund guidelines after SC verdict
The Directorate General of Civil Aviation (DGCA) said the airlines should “make all endeavours” to refund the passengers belonging to the second category within 15 days.
“If on account of financial stress, any airline/airlines are not able to do so, they shall provide a credit shell equal to the amount of fare collected (to the passenger),” it added