Page 1929 - Coronavirus
Cognizant posts 17% drop in net profit; Covid-19 to impact Q2 numbers
Among verticals, the highest growth in revenue during the quarter came from communications, media and technology, which grew 5.2 per cent to $626 million
 "Cognizant posts 17% drop in net profit; Covid-19 to impact Q2 numbers")
Revive, thrive, go forward: How Nakul Anand sees hotels after Covid-19
Over grilled chicken and greens, Anand talks to Pavan Lall about the changes taking place in the world of hospitality due to Covid-19, and the career lessons he took away from his days as a DJ
 "Revive, thrive, go forward: How Nakul Anand sees hotels after Covid-19")
Covid-19 impact: State govts likely to raise more money using bonds
According to the Reserve Bank of India (RBI) data, state governments' gross market borrowings stood at Rs 6.08 trillion in 2019-20, up from Rs 4.78 trillion in 2018-19.
 "Covid-19 impact: State govts likely to raise more money using bonds")
MP will need Rs 1 trillion to reboot economy: Shivraj Singh Chouhan
Chouhan said that the farm loan waiver scheme of the previous Kamal Nath government was a "trick of phantasm", indicating that his government could review it
 "MP will need Rs 1 trillion to reboot economy: Shivraj Singh Chouhan")
Long walk home ends in tragedy: Goods train mows down 16 migrants
Migrants fell asleep on railway track in Maharashtra
 "Long walk home ends in tragedy: Goods train mows down 16 migrants")
FM to discuss credit flow to NBFCs, businesses with banks on Monday
The FM will take stock of the credit sanction and disbursement by the banks since March 1, 2020, and the Covid-19-related emergency credit lines opened by the lenders
 "FM to discuss credit flow to NBFCs, businesses with banks on Monday")
Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased
The government imposed a lockdown on March 24 and is yet to open up travel, including international flights.
 "Covid-19: Relief for NRIs, foreign visitors as tax residency rules eased")
Additional borrowing to widen fiscal deficit, but help govt perk up economy
He did not think that the move will crowd out borrowings of the private sector, saying demand of the government and the private sector are not contradictory in these circumstances
 "Additional borrowing to widen fiscal deficit, but help govt perk up economy")
Covid-19 crisis: Won't deploy Army in Mumbai, says Uddhav Thackeray
Thackeray said his government has requested for doctors from the Railways, port trust and other central departments for support
 "Covid-19 crisis: Won't deploy Army in Mumbai, says Uddhav Thackeray")
Mumbai supplies to be hit as Vashi APMC shuts for a week to curb Covid-19
The need to close the mandi arose after confirmed Covid-19 cases surpassed 80 within the APMC itself and shot past 450 across Navi Mumbai, where this mandi situated
 "Mumbai supplies to be hit as Vashi APMC shuts for a week to curb Covid-19")
Nomura predicts Indian GDP to contract by 5.2% in FY21, more rate cuts
Analysts at Goldman Sachs expect the Indian economy to contract 0.4 per cent in FY21 versus consensus median 2.7 per cent
 "Nomura predicts Indian GDP to contract by 5.2% in FY21, more rate cuts")
Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy
Sources say the Centre has asked RBI to do whatever to keep yields in check, which may result in massive secondary market bond purchases
 "Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy")
Covid-19: US jobless rate spikes to 14.7%, highest since Great Depression
The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy
 "Covid-19: US jobless rate spikes to 14.7%, highest since Great Depression")
IndiGo reinstates pay cuts, introduces leave without pay for senior staff
IndiGo had announced pay cuts for its senior employees on March 19. However, it rolled back the decision on April 23
 "IndiGo reinstates pay cuts, introduces leave without pay for senior staff")
Learn to live with coronavirus, says govt as cases cross 56,000
Over the last few days cases in India are rising at a much faster pace than before, raising serious concerns
 "Learn to live with coronavirus, says govt as cases cross 56,000")
Equity flows dip 47% in Apr despite mkts seeing sharpest run-up since 2009
Debt categories continued to see redemptions. Credit risk funds saw a bulk of the outflows at Rs 19,238 crore, registering the worst month for the category in 13 months
 "Equity flows dip 47% in Apr despite mkts seeing sharpest run-up since 2009")
Take predictions of a new, improved post-corona world with a pinch of salt
There appears to be a sudden outbreak of good behaviour
 "Take predictions of a new, improved post-corona world with a pinch of salt")
MSME sector's bad loan ratio at 12.5% as of January, shows report
NPA level of public sector banks has increased from 18 per cent in December 2018 to 19 per cent in December 2019
 "MSME sector's bad loan ratio at 12.5% as of January, shows report")
Lockdown 3.0: Pharma hubs take extra precaution to tame Covid-19 outbreak
Recently, while 26 workers at Cadila Pharmaceuticals facility in Ahmedabad tested positive for Covid-19, one person at Sun Pharma's Halol plant tested positive.
 "Lockdown 3.0: Pharma hubs take extra precaution to tame Covid-19 outbreak")
People returning from abroad can be quarantined in hotels: Govt guidelines
The ministry has directed the owners of the facilities to make them either a quarantine or isolation facilities as they cannot co-exist
 "People returning from abroad can be quarantined in hotels: Govt guidelines")