PNB buys 3 Audi cars for top management amid COVID-19 induced downturn
NEW DELHI: At a time when the financial sector is passing through a rough patch and looking at ways to conserve capital, country’s second largest lender Punjab National Bank (PNB) has bought three Audi cars to ferry its top management. According to sources, the PNB took the delivery of these high-end luxury cars worth approximately […]
Cuba declares coronavirus pandemic ‘under control’
Cuban President Miguel Diaz-Canel has declared the coronavirus pandemic “under control” after the island nation registered an eighth straight day without a death from COVID-19. It paves the way for an announcement next week on Cuba’s strategy to gradually lift its lockdown. The country of 11.2 million has recorded just under 2,200 cases and 83 […]
Coronavirus pandemic drives broadest economic collapse in 150 years: World Bank
The coronavirus pandemic inflicted a “swift and massive shock” that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday. The world economy is expected to contract by 5.2 percent this year — the worst recession in 80 years — but the sheer number of […]
South Korea court to rule on arrest warrant for Samsung heir
The heir to South Korea’s Samsung empire appeared in court Monday as judges deliberate on whether to detain him over a controversial merger of two business units seen as a key step to his succession. Lee Jae-yong, vice chairman of Samsung Electronics, is already being re-tried on charges of bribery, embezzlement and other offences in […]
Europe moves ahead with reopening as global coronavirus cases top 7 million
European countries experimented with further lifting coronavirus restrictions Monday as New Zealand declared victory over the pandemic, even as global cases topped seven million and deaths mounted in Latin America. The number of COVID-19 fatalities has now passed 403,000 worldwide since the disease emerged in China last year before sweeping the globe, subjecting billions to […]
JP Infra introduces unique home-buying program amid Covid-19 crisis
NEW DELHI: Mumbai-based real estate developers JP Infra Mumbai Private Limited has introduced JP Care, a unique home-buying program for its homebuyers amid the Covid-19 crisis. If a homebuyer buys a house with JP Infra during the ongoing lockdown period but unfortunately loses his job due to termination or lay-off, then the developer will be paying […]
African American banks pivotal as ever for minorities in USA
When she needed capital to expand her business, Ernisha Randolph was just one of countless African Americans to encounter roadblocks despite having no history of financial trouble. About seven years ago, her catering company, Juanita’s Kitchen, had secured a big government contract that guaranteed revenues for three years. To finance the expansion, she turned to […]
Coronavirus pandemic, dire economy, unrest upend US presidential race
Three concurrent crises scarring the United States — a deadly health pandemic, economic despair and widespread social unrest — have reframed this year’s presidential contest and prompted national reflection over racial inequality in America. Is the country on the cusp of a transformation, or will systemic inequalities exacerbated by the coronavirus crisis persist, allowing alienation […]
India surplus in face mask production, allow exports to clear inventory: Industry
NEW DELHI: With India’s surplus face mask capacity choking production lines, the medical device industry has asked the government to lift the ban on export of non-N95 masks to help manufacturers clear unsold inventories and resume production at full capacity. The government had in March banned export of all kinds of masks to avoid any […]
Lockdown left millions of migrants empty-handed; govt should give Rs 25,000 to each of them
NEW DELHI: The unplanned nationwide lockdown has forced millions of migrants to return home empty-handed and the government should make a direct cash transfer of Rs 25,000 to each of them to salvage the situation, according to S Irudaya Rajan, an expert on migrant issues. There are more than 600 million migrants in the country […]
‘Answered prayers’: Fiji declares itself coronavirus free
Fiji announced it was coronavirus free Friday after the island nation’s last known infected patient was given the all-clear, continuing the Pacific’s remarkable record of success against the virus. There was panic among Fiji’s 930,000 population when the first COVID-19 case was reported in mid-March, but strict isolation measures and border controls kept a lid […]
Donald Trump says US economy ‘largely’ over coronavirus pandemic, as EU eyes border openings
President Donald Trump said Friday the US economy had largely made it through the coronavirus pandemic, as a top expert in France said the worst was over there and the EU looked to open its borders again. The United States is by far the worst hit by the deadly disease, which has killed over 390,000 […]
Farmer commits suicide inability to sell his sugarcane produce due to coronavirus lockdown
MUZAFFARNAGAR: A farmer was found hanged from a tree in Muzaffarnagar district of Uttar Pradesh with the authorities suspecting that he committed suicide fearing failure to sell his sugarcane produce due to the coronavirus-induced lockdown, police said on Friday. According to the police, Ompal Singh, a resident of Sisoli village in the Bhorakala police station […]
Supreme Court mulls granting 15 days to Centre, states for transporting migrant workers
NEW DELHI: The Supreme Court Friday said it intends to give 15 days to the Centre and states for transporting all stranded migrant workers to their native places, commencing hearing on their plight during the Covid-19 lockdown period. A bench of Justices Ashok Bhushan, SK Kaul and MR Shah was informed by Solicitor General Tushar […]
Supreme Court asks if private hospitals ready to charge COVID-19 patients at Ayushman Bharat rate
NEW DELHI: The Supreme Court Friday asked private hospitals whether they are ready to provide treatment to COVID-19 infected patients at the charges prescribed under the government’s Ayushman Bharat Scheme. The ‘Ayushman Bharat Pradhan Mantri Jan Arogya Yojana’ is aimed at providing health cover to poor and vulnerable persons in the country. A bench headed […]
USA faces unemployment crisis amid record trade drop
In further signs of the crisis facing the world’s largest economy amid the coronavirus pandemic, new data Thursday showed a record plunge in US exports as layoffs exceeded 42 million. The two key reports on economic health indicate that even as Wall Street regains its strength and some industries show signs of recovery as virus […]