Tag: Coronavirus crisis

India’s GDP expected to contract by 9.6 per cent this fiscal: World Bank

By Lalit K Jha NEW DELHI: The World Bank on Thursday said that India’s GDP is expected to contract by 9.6 per cent this fiscal which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic, noting that the country’s economic situation is much worse […]

Britain’s banks turn cyber sleuths to crack $100 billion mortgage mystery

By Lawrence White LONDON:Does a cancelled gym membership spell financial disaster? That is the type of question British banks are asking as they try to work out whether borrowers owing some 75 billion pounds ($96 billion) in home loans will be good for it when a payment holiday, introduced when the coronavirus crisis first hit, […]

Zara owner Inditex says store sales recovering as it returns to profit

MADRID: The owner of fashion retailer Zara, Inditex, returned to quarterly profit in the three months from May to July despite a 31% fall in sales as the coronavirus crisis kept consumers away from city centre shopping districts. Inditex, which also owns the Massimo Dutti and Bershka brands, said 98% of its stores had reopened […]

Growing US-China rivalry seen fueling UN paralysis amid coronavirus crisis

For nearly a decade, the UN Security Council has been frequently paralyzed by Russia’s obstinacy over the Syrian crisis. Today, however, it is the US-China rivalry that has infected a growing array of issues, according to officials and diplomats. As recently as 2017, an understanding between Washington and Beijing allowed the United Nations on three […]

Namaste Trump event responsible for coronavirus crisis in Mumbai, Gujarat and Delhi

NEW DELHI: Shiv Sena leader Sanjay Raut on Sunday alleged that the event held in Ahmedabad to welcome US President Donald Trump in February was responsible for the spread of coronavirus in Gujarat and later in Mumbai and Delhi, which some of his delegates had visited. Raut also hit out at the Centre saying that […]

Coronavirus crisis: Rajasthan defers 75% salary of CM, Ministers, Bureaucrats

JAIPUR: The Rajasthan cabinet on Tuesday decided to defer a portion of the salary of the chief minister, deputy chief minister, MLAs, and government employees as part of austerity measures amid the novel coronavirus pandemic in the state. In a meeting chaired by Chief Minister Ashok Gehlot, it was informed that most of the industrial […]

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