UAE plans to offer citizenship to select group of foreigners in a rare move
NEW DELHI: The United Arab Emirates (UAE) on Saturday announced plans to grant some foreigners citizenship to this oil-rich nation home to Abu Dhabi and Dubai, part of efforts to stimulate its economy amid the coronavirus pandemic. The UAE previously gave citizenship to Palestinians and others who helped form the country’s government after its formation […]
‘Auto price hikes to dampen recovery after festive boost’
NEW DELHI: Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday. Accordingly, the ratings […]
North Korea toughens rules of entry to sea to fight coronavirus
By HYUNG-JIN KIM SEOUL: North Korea is further toughening restrictions on entering seawaters as part of elevated steps to fight the coronavirus pandemic, state media said Sunday, two days after South Korea said the North had banned sea fishing. The Korean Central News Agency reported the country is mobilizing more anti-virus units and establishing strong […]
Direct tax refunds of nearly Rs 1.37 lakh crore issued in FY21
NEW DELHI: The Central Board of Direct Taxes (CBDT) has issued refunds of nearly Rs 1.37 lakh crore to over 41.25 lakh taxpayers so far in the financial year 2020-21. The total refund amount includes Rs 36,028 crore of income tax refunds and over Rs 1 lakh crore as refunds on corporate tax, the Income […]
Joe Biden plans to nominate topmost economist Janet Yallen as Treasury Secretary: Reports
By Lalit K Jha WASHINGTON: US President-elect Joe Biden is planning to nominate former Federal Reserve Chair Janet Yallen as his Treasury Secretary to lead his economic response to the raging coronavirus pandemic, which has wreaked havoc on the world’s biggest economy and led millions of Americans to lose their jobs. A formal announcement on […]
Q&A: Where are we in the COVID-19 vaccine race?
NEW DELHI: Drug makers and research centres around the world are working on COVID-19 vaccines, with large global trials of several of the candidates involving tens of thousands of participants well underway. The following is what we know about the race to deliver vaccines to help end the coronavirus pandemic that has claimed more than […]
Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand: SCMP
Hong Kong’s Cathay Pacific Airways Ltd 0293.HK will cut around 6,000 jobs, or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post reported on Tuesday, citing sources. The airline said in June it was reviewing its strategy in light of the travel […]
Banks sanction loans worth Rs 1.77 trillion to 4.4 million MSMEs under ECLGS scheme
NEW DELHI: The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1.77 lakh crore to 44.2 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under the slowdown caused by the coronavirus pandemic. However, disbursement against the sanctioned amount stood at […]
Lieutenant Governor announces Rs 1,350 crore package to bolster biz, jobs in Jammu & Kashmir
NEW DELHI: Lieutenant Governor, Manoj Sinha on Saturday approved a record Rs 1,350 package to spur growth in businesses and jobs in Jammu and Kashmir hit by terrorism and the coronavirus pandemic. The economic package will primarily act as a lifeline to distressed entities, self-employed individuals in tourism and transport sectors and will also offset […]
New York: New tower opens as pandemic crushes Manhattan office market
By Herbert Lash NEW YORK: One Vanderbilt, the latest super-tall skyscraper to grace New York’s skyline, opens Monday in a socially distant ribbon-cutting ceremony as COVID-19 leaves offices and the streets of Manhattan largely barren. The airy $3.3 billion tower adjacent to Grand Central Terminal represents a major step in city efforts to ensure that […]
Puravankara posts net loss of Rs 17 crore in Q1 FY21
NEW DELHI: Realty firm Puravankara Ltd on Friday reported a net loss of Rs 16.93 crore for the June 2020 quarter, owing to lower sales and construction activities due to the coronavirus pandemic. It had posted a net profit of Rs 44 crore in the year-ago period. Total income declined to Rs 190.53 crore in […]
More Indians in Singapore returning home due to job losses: Envoy
By Gurdip Singh SINGAPORE:More and more Indian workers are returning home as Singapore businesses cut down on workforce following the severe impact of the novel coronavirus pandemic, an official said. “On an average, about 100 Indian nationals in Singapore continue to register daily with the High Commission here for flights back home, with over 11,000 […]
U.S. passenger airline traffic rising, but still down sharply over 2019
WASHINGTON:U.S. passenger airline traffic continues to rebound over historic lows after the coronavirus pandemic, but is still down sharply over 2019 levels. The U.S. Transportation Department said Tuesday airlines carried 21.4 million passengers in July, up from 16.5 million in June, but still down 73% over July 2019 levels. On Friday, the Transportation Security Administration […]
Air travel within China almost returns to “pre-pandemic levels”
NEW YORK: Domestic air travel in China has nearly fully recovered from the COVID-19 pandemic, according to data released Wednesday by ForwardKeys, which predicted the Chinese aviation market would fully recover by the start of September. In the second week of August, domestic arrivals at Chinese airports reached 86 percent of last year’s levels, while […]
Uttar Pradesh: 69 firms allotted land near Jewar airport during coronavirus pandemic, investments of over Rs 2,300 crore expected
NEW DELHI: Notwithstanding the COVID-19 outbreak, 69 firms were allotted industrial land near the upcoming Jewar airport between May and July, with officials expecting investments of over Rs 2,300 crore and creation of over 86,000 jobs in the region. These firms have been allotted 146.50 hectares of land during the three-month period when economic activities […]
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 […]