The global international agency said that the novel coronavirus pandemic has caused a 22 per cent fall in international tourist arrivals during the first quarter of 2020. International tourism could decline by 60-80 per cent in 2020 due to the Covid-19 pandemic, resulting in the revenue loss of $910 billion […]
Business
New Zealand Prime Minister Jacinda Ardern said the move to “level 2” restrictions will mean retail, restaurants and other public spaces including playgrounds can reopen from Thursday. New Zealand businesses including malls, cinemas, cafes and gyms will be allowed to reopen from Thursday as tight restrictions put in place to […]
Saudi Arabia is tripling its value added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. The government in Riyadh also said it will suspend its cost of living allowance to shore up state finances. The oil-rich nation has seen its income plummet as the impact of […]
Lives could be put at risk by an influx of companies offering to clean up potential coronavirus hotspots, a leading cleaning firm has warned. SafeGroup boss Steve Broughton said the market was being “flooded” by firms that lacked the experience or equipment to operate “safely or correctly”. Mr Broughton said […]
TOKYO: Sony Corp says it will manufacture and donate medical face shields to hospitals in Japan, amid worries about the availability of protective equipment for healthcare workers dealing with the coronavirus pandemic. Sony joins a growing list of global companies such as Boeing and Exxon Mobil helping to provide hospitals […]
New York: Tesla filed suit Saturday night against Alameda County, California, after local officials there refused to let the company reopen its Fremont factory. In a series of tweets earlier Saturday, Tesla CEO Elon Musk also threatened to move the company’s headquarters to Texas or Nevada, where shelter-in-place rules are […]
Maintaining that the combined fiscal deficit of the Centre and states may go up to 13-14 percent this fiscal, former RBI Governor Duvvuri Subbarao on Sunday said the financial stimulus announced by the Centre on March 26 on account of lockdown to contain spread of COVID-19, is “not sufficient”. Speaking […]
WASHINGTON: The coronavirus crisis has sent U.S. unemployment surging to 14.7%, a level last seen when the country was in the throes of the Depression and President Franklin D. Roosevelt was assuring Americans that the only thing to fear was fear itself. And because of government errors and the particular […]
On Friday, Reliance Industries announced a $1.5 billion stake sale in Jio to Vista Equity Partners, the third deal in just over two weeks. Two more firms are eyeing a share of Reliance Industries’ $65-billion digital unit Jio Platforms, according to Bloomberg News, setting them up to be a part […]
Moody’s Investors Service on Friday said it estimated India’s GDP growth to hit ‘zero’ in FY21 and pointed to a wide fiscal deficit, high government debt, weak social and physical infrastructure, and a fragile financial sector. The quality of India’s economic growth has declined in recent years, demonstrated by financial […]