Tag: COVID-19 pandemic

India extends sugar export deadline by 3 months till December

By Laxmi Devi NEW DELHI: The government of India has given additional three months’ time till December to millers to undertake mandatory export of their sugar quota allocated for this year, a senior Food Ministry official said on Monday. For the 2019-20 marketing year ending September, the government has allowed export of 6 million tonnes […]

Pandemic slashes worldwide income from work by a tenth: ILO

GENEVA: Income earned from work worldwide dropped by an estimated 10.7%, or $3.5 trillion, in the first nine months of 2020, compared to the same period a year ago, the International Labour Organization (ILO) said on Wednesday. The figure, which does not include income support provided by governments to compensate for workplace closures during the […]

Why can’t funds for construction workers be used for others as well: Supreme Court

NEW DELHI: The Supreme Court Friday asked the Centre as to why it cannot issue an Ordinance that funds collected under the welfare scheme meant for building and construction workers across the country be used for other workers as well during the COVID-19 pandemic. A three-judge bench headed by Chief Justice S A Bobde said […]

Singapore Airlines to cut 4,300 jobs due to Covid-19 pandemic

SINGAPORE: Singapore Airlines Group said Thursday it will eliminate 4,300 jobs due to the long road to recovery” for the global aviation industry battered by the coronavirus pandemic. The group said in a statement it will cut the positions across Singapore Airlines, regional arm SilkAir and budget unit Scoot. After taking into account a recruitment […]

EPFO settles 94.41 lakh claims during pandemic since 1st Arpil

NEW DELHI: Despite the COVID-19 pandemic restrictions, Employees’ Provident Fund Organization (EPFO) has been able to settle a staggering 94.41 lakh claims thereby disbursing about Rs 35,445 crore to its members during the period of April-August, 2020. During this period, EPFO has settled around 32% more claims as compared to corresponding period of last year […]

Air India to operate direct Kolkata-London flight from September 16

NEW DELHI: With regular international flights stalled owing to the COVID-19 pandemic, Air India is set to operate direct flights between Kolkata and London, primarily for the purpose of repatriation, under the Centre’s Vande Bharat mission, a spokesperson for the airline said. The flights between NSC Bose International Airport here and Heathrow in London will […]

Banks free to restructure loans, but can’t penalise borrowers availing moratorium benefit

NEW DELHI: Banks are free to restructure loans but they cannot penalise honest borrowers by charging interest on deferred EMI payments under the moratorium scheme during the COVID-19 pandemic, a petitioner opposing the move said in the Supreme Court on Wednesday. A bench headed by Justice Ashok Bhushan, which commenced final hearing on a batch […]

Covid fallout: Fiscal deficit may rise over 8% of GDP in FY21

NEW DELHI: With economic disruptions set for a long haul due to Covid-19 pandemic, India could see its fiscal deficit this year to balloon to over 8 per cent of GDP, brokerages analysing the deficit numbers post release of August GST collection data have said. The Controller General of Accounts on Monday said that country’s […]

Donald Trump cuts ties with WHO as Covid-19 pandemic grips Latin America

US President Donald Trump said he is severing ties with the World Health Organization (WHO) over its handling of the coronavirus pandemic, as the death toll from the disease spiked again in the United States and Brazil. The virus, which has killed more than 364,000 people and devastated the global economy, is progressing at different […]

Chile, Peru secure credit lines from IMF amid Covid-19 pandemic

NEW DELHI: The IMF approved a two-year $24 billion credit line for Chile on Friday as the South American nation battles the growing impact of the coronavirus pandemic. The announcement came a day after Peru secured a two-year, $11 billion credit line, and as Latin America becomes a growing hotspot for COVID-19. The Flexible Credit […]

American billionaires richer by $434 billion during the pandemic

NEW YORK: As millions of US citizens lost their jobs in the Covid-19 pandemic, nations billionaires saw their net worth jump $434 billion in the first two months of pandemic, led by Amazon Founder and CEO Jeff Bezos ($34.6 billion) and Facebook CEO Mark Zuckerberg ($25 billion). The top five US billionaires – Jeff Bezos, […]

Hotels, hospitality sectors severely impacted by COVID-19 pandemic: JLL

NEW DELHI: The hotels and hospitality sector in India has declined sharply in the first quarter of 2020, as the COVID-19 outbreak impacts various segments of the sector, according to global real estate consultant JLL. Coming off a high performance base in 2019, the COVID-19 outbreak and the containment measures introduced by the government have […]

Covid-19 impact: Air India suspends contract of around 200 employees

NEW DELHI: Air India on Thursday temporarily suspended the contracts of around 200 employees including pilots, who were re-employed after retirement, as all domestic and international commercial passenger flights have been suspended in the country till April 14 to curb the COVID-19 pandemic, a senior official said. “Since almost all the planes have been grounded […]

Global economy could shrink by almost 1% in 2020 due to COVID-19 pandemic: UN

By Yoshita Singh UNITED NATIONS (UN): The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without […]

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