Page 3 - Latest Updates on Lockdown
Hong Kong eases quarantine on entry in bid to boost business activity
Hong Kong has slashed its Covid-19 quarantine requirement for overseas arrivals from seven to three days in a bid to attract business travellers and kick-start economic activity
 "Hong Kong eases quarantine on entry in bid to boost business activity")
IMF revises China's 2022 growth by 1.1%, predicts major global spillovers
"In China, further lockdowns and the deepening real estate crisis have led growth to be revised down by 1.1 percentage points, with major global spillovers," the IMF said
 "IMF revises China's 2022 growth by 1.1%, predicts major global spillovers")
Casual workers PSUs hired fell 44% in first Covid-19 pandemic year
Experts say lockdown and near stalling of business may have prompted the decline
 "Casual workers PSUs hired fell 44% in first Covid-19 pandemic year")
Amul bucked Covid blues, launched more than 100 products during lockdown
At a time when other food and beverage (F&B) brands took a hit during the lockdown, Amul was on a product-launching spree.
 "Amul bucked Covid blues, launched more than 100 products during lockdown")
Oil jumps 2% as soft dollar and tight supply offset recession concerns
Brent crude futures for September settlement rose $2.44, or 2.4%, to $103.60 a barrel by 0900 GMT, having advanced by 2.1% on Friday.
 "Oil jumps 2% as soft dollar and tight supply offset recession concerns")
China's exports bounce back, but global risks darken trade outlook
China June export grows at fastest pace in 5 months; trade surplus at record, but export outlook still faces uncertainty
 "China's exports bounce back, but global risks darken trade outlook")
Proper interpretation of data necessary for informed decision making: Das
Das said lockdowns in various countries, including India, posed severe challenges to compilation and availability of data relating to the spread of the pandemic, and its impact on various economies
 "Proper interpretation of data necessary for informed decision making: Das")
China's zero Covid policy & India's opportunity
India must suitably reorient its trade policy to take advantage of China's persistence with lockdowns
 "China's zero Covid policy & India's opportunity")
Committed to fight inflation but not trying to trigger recession: Fed chair
'It's essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all,' Fed chair said at a hearing before US Senate Banking Committee
 "Committed to fight inflation but not trying to trigger recession: Fed chair")
Iron ore price sinks and steel mills go dark on deepening China gloom
Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.
 "Iron ore price sinks and steel mills go dark on deepening China gloom")
Unemployment rate dips to 8.2% in Jan-Mar 2022, shows NSO survey
Joblessness was high in January-March in 2021 mainly due to the staggering impact of the lockdown restrictions in the country, which were imposed to curb the spread of the deadly coronavirus.
 "Unemployment rate dips to 8.2% in Jan-Mar 2022, shows NSO survey")
Most young workers reluctant to return to workplace full-time: Report
More than 7 in 10 (71%) of 18-24 year-olds and two-third (66%) of 25-34 year-olds would consider looking for another job if their employer insisted on a full-time return to workplace, said the report
 "Most young workers reluctant to return to workplace full-time: Report")
Panic buying triggered in Shanghai as mass Covid-19 testing returns
The mass testing announcements sparked fears of a return to stringent, prolonged lockdown among Shanghai residents, many of whom had been confined to their homes for two months or more since March
 "Panic buying triggered in Shanghai as mass Covid-19 testing returns")
Oil sticks near three-month highs despite new Covid lockdowns in Shanghai
Brent crude futures for August dipped 9 cents to $123.49 a barrel at 0853 GMT, while US West Texas Intermediate crude for July was at $121.89 a barrel, down 22 cents.
 "Oil sticks near three-month highs despite new Covid lockdowns in Shanghai")
Oil prices strengthen on EU's Russian oil ban, end of Shanghai lockdown
Brent crude was up $1.83, or 1.6%, at $117.46 a barrel as of 11:56 a.m. EDT (1556 GMT). U.S. West Texas Intermediate crude gained $1.77, or 1.6%, to $116.45.
 "Oil prices strengthen on EU's Russian oil ban, end of Shanghai lockdown")
India's per capita income remains below pre-Covid level in 2021-22
However, the per capita income based on Net National Income (NNI) at constant price grew by 7.5 per cent in FY22 over the previous year.
 "India's per capita income remains below pre-Covid level in 2021-22")
Lockdown, steel output restrictions hit exports to China, shows data
The exports basket is largely dominated by steel, iron ore, copper, paper products, plastics, organic chemicals, among others
 "Lockdown, steel output restrictions hit exports to China, shows data")
More from British PM's party voice call for him to resign over partygate
The total number of openly critical MPs has risen to 26 since the publication of an inquiry report into Covid lockdown law-breaking parties at Downing Street by top civil servant Sue Gray last week
 "More from British PM's party voice call for him to resign over partygate")
Shanghai city to lift two-month Covid lockdown restrictions on June 1
Shanghai imposed a city-wide lockdown on its 25 mn residents on April 1 to combat the spread of Covid
 "Shanghai city to lift two-month Covid lockdown restrictions on June 1")
Shanghai to cancel several restrictions on companies to aid economy
Businesses will also from June 1 no longer need to apply to resume work, he said, without detailing what other restrictions were being removed
 "Shanghai to cancel several restrictions on companies to aid economy")
