No restrictions on utilisation of additional borrowing by states: Finance Ministry
NEW DELHI: The government of India has not imposed any restrictions on states for utilisation of additional borrowing of 2 per cent and they are free to spend as per their requirements, a senior Finance Ministry official has said. It is to be noted that the basic limit of 3 per cent remains unconditional, while […]
U.S. secures 300 million doses of potential AstraZeneca COVID-19 vaccine
BENGALURU/LONDON: The United States has secured almost a third of AstraZeneca’s one billion possible COVID-19 vaccine doses by pledging up to $1.2 billion, as the world’s biggest powers scramble for medicinal supplies to get their economies back to work. While not proven to be effective against the coronavirus, vaccines are seen by many world leaders […]
One check-in bag to fare control: India issues guidelines for domestic flight operations from May 25
NEW DELHI: A day after announcing resumption of domestic commercial passenger flights from May 25, the Civil Aviation Ministry on Thursday issued detailed guidelines for airlines, airports, passengers and other stakeholders. The ministry said it will prescribe lower and upper limit on air fares and airlines will have to adhere to it “during the period […]
Guidelines for train services beginning on 1st June 2020
NEW DELHI: Ministry of Railways (MoR) in consultation with Ministry of Health & Family welfare (MoHFW) and Ministry of Home Affairs(MHA) has decided that train services on Indian Railways shall be further partially restored w.e.f. from 01st June 2020. Indian Railways will start operations of 200 passenger services as listed in the annexure (attached below). […]
UPSC to decide date for civil services prelims on June 5
NEW DELHI: The date for this year’s civil services preliminary examination is likely to be decided on June 5, the Union Public Service Commission (UPSC) has said. The test, which was scheduled to be held on May 31, has been deferred due to the COVID-19 lockdown. A revised programme of examinations, including the civil services […]
Harsh Vardhan to take charge as WHO executive Board Chairman
NEW DELHI: India’s Health Minister Harsh Vardhan, who is at the forefront of India’s battle against COVID-19, is set to take charge as the chairman of the World Health Organization (WHO) Executive Board on May 22, officials said. Vardhan would succeed Dr Hiroki Nakatani of Japan, currently the Chairman of the 34-member WHO Executive Board. […]
Britain increases large business loan scheme to 200 million pounds
LONDON: Britain has increased the size of the loan that large businesses can borrow to see them through the coronavirus pandemic from next week, raising it to 200 million pounds ($245 million) from 50 million pounds. The Treasury said the move would help those companies that did not qualify for the Bank of England’s Covid […]
IndiGo, SpiceJet, other airlines resume online bookings for domestic flights for June
NEW DELHI: Some airlines have started bookings for flights from June onwards, sources said amid commercial flight services remaining suspended till May 31 due to the coronavirus lockdown. A SpiceJet spokesperson, however, said its international bookings are closed till June 15. Commercial flights have been suspended since March 25 when the country-wide lockdown began to […]
China says to levy 80.5 percent in tariffs on Australian barley
BEIJING: China on Monday announced 80.5 percent tariffs on Australian barley, days after suspending beef imports from the country — a move that could escalate tensions between the countries. Following a government investigation into Australian grain exports, China found Australian subsidies and dumping had “substantially damaged domestic industry,” the commerce ministry said in a statement. […]
India implements cut in EPF contribution to 10 per cent for May, Jun, July
NEW DELHI: India’s Ministry of Labour & Employment has implemented the decision to cut employees’ provident fund (EPF) contributions to 10 per cent from the existing 12 per cent for three months till July. This would increase 4.3 crore organised sector employees’ take home pay and reduce the liability of 6.5 lakh employees reeling under […]
SoftBank’s Vision Fund tumbles to $18 billion loss in ‘valley of coronavirus’
By Sam Nussey TOKYO: Japan’s SoftBank Group Corp reported a stunning $18 billion loss at its giant Vision Fund, pushing Masayoshi Son’s conglomerate to a record loss and highlighting the deepening crisis at its portfolio companies from the global downturn. The disastrous 1.9 trillion yen ($18 billion) operating shortfall at the Saudi-backed Vision Fund, including […]
In race to COVID-19 drugs, EU may fast track remdesivir sale before U.S.
By Francesco Guarascio BRUSSELS: The European Union (EU) may give an initial green light in the coming days for sale of the drug remdesivir as a COVID-19 treatment, the head of its medicines agency said on Monday, fast-tracking the drug to market amid tight global competition for resources. The United States (US), which has angered […]
Chhattisgarh to launch Nyay scheme for farmers on May 21
NEW DELHI: A whopping 20 lakh farmers will benefit from the Chhattisgarh government”s Kisan Nyay Yojana under which funds for paddy, maize and sugarcane (rabi) crops will be transferred to the farmers” bank accounts on the basis of the area registered in kharif year 2019. The ambitious scheme will roll out on May 21, the […]
European airlines hope to resume flights but outlook is dim
By JAN M. OLSEN COPENHAGEN: European airlines are planning for a return to the skies this summer after being grounded almost completely for weeks over the coronavirus pandemic. The outlook, however, remains uncertain, with companies forecasting a slow recovery even next year due to public health restrictions and concerns. Finland’s national airline, a major carrier […]
Cash strapped Thai Airways to seek bankruptcy rehabilitation
BANGKOK: Thailand’s flag carrier Thai Airways International will file a plan for restructuring its business with the Central Bankruptcy Court, a government spokeswoman said Monday. Narumon Pinyosinwat said the plan submitted by the State Enterprise Policy Office to salvage the airline will be submitted Tuesday to for Cabinet approval. She said she had no details […]
2020 Watch: Battleground map taking shape for Joe Biden, Donald Trump
By BILL BARROW ATLANTA: The United States Presidential politics move fast. What we’re watching heading into a new week on the 2020 campaign: Days to general election: 169 THE NARRATIVE States are relaxing shutdown and stay-at-home orders during the COVID-19 pandemic. President Donald Trump is traveling more, determined to model the confidence he believes the […]