Coronavirus

Hurt in Covid-19, MSMEs recover slowly as initiatives for them continue

Share of credit outstanding to MSMEs by scheduled commercial banks as a percentage of outstanding non-food credit is tepid

Industry must realign itself with political, strategic policies: Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said the industry will have to realign its policies keeping in mind political and strategic decisions of the country. Outlining the priorities of the economy for the next decade, Sitharaman also said attempts should be made to restore global calm and normalcy and noted that war or any form of disruption should be avoided. Sitharaman said the economy has to "clawback" more to regain its strength after the Covid pandemic and any skirmish or war will impact the supply chains and food value chains. "The world is facing challenges which are reflected in the economy," the Minister said at the CII Global Economic Policy Forum here. Talking about ways to tackle supply chain disruptions, Sitharaman said currently there is a need to blend economic priorities with politics and strategic needs. "When we talk about restoring supply chains to frictionless supply chains, let's not forget it's not just economics, it's more than that... We have to b

Here's how India is sacrificing its growth and why it needs to stop

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Was stupid not to put name on pandemic relief checks like Trump did: Biden

President Joe Biden said he was stupid not to put his own name on pandemic relief checks in 2021, noting that Donald Trump had done so in 2020 and likely got credit for helping people out through this simple, effective act of branding. Biden did the second-guessing as he delivered a speech at the Brookings Institution defending his economic record and challenging Trump to preserve Democratic policy ideas when he returns to the White House next month. As Biden on Tuesday focused on his legacy with his term ending, he suggested Trump should keep the Democrats' momentum going and ignore the policies of his allies. The president laid out favourable recent economic data but acknowledged his rare public regret that he had not been more self-promotional in advertising the financial support provided by his administration as the country emerged from the pandemic. I signed the American Rescue Plan, the most significant economic recovery package in our history, and also learned something from

Covid a disaster like no other, vaccination saved lives: Centre to SC

The Centre on Tuesday stated in the Supreme Court that the Covid 19 pandemic was "a disaster like no other" and vaccination saved people's lives. The submission was made when a bench of Justices Vikram Nath and P B Varale was hearing a plea over the alleged vaccine-induced deaths of two women. After additional solicitor general Aishwarya Bhati, representing the Centre, said Covid was a disaster like no other, senior advocate Colin Gonsalves, representing the women's parents, responded, "We are not contesting that. We do not dispute." The plea, filed by the parents of the two women, claimed after the first dose of their Covishield vaccination, the women suffered severe adverse effects following immunisation (AEFI). Bhati said the apex court had holistically looked into the aspect of Covid vaccination and delivered a verdict dealing with the aspect of AEFI. "Ultimately, it is a question of balancing the equities. Covid was a disaster like no other," she said, "covid vaccination has

Leading docs sign petition for suspension of all Covid-19 mRNA vaccines

Several doctors and healthcare professionals have signed a petition calling for the immediate suspension of all COVID-19 mRNA products because they fear the jabs could be contributing to an alarming rise in excess deaths. A petition known as the HOPE Accord attracting signatures from around the world went online recently to alert the international community on the continued use of the COVID mRNA vaccines. These vaccines, using gene-based technology, were given emergency use authorisation as one of the tools to address the coronavirus pandemic. A growing body of evidence suggests that the widespread rollout of the novel Covid-19 mRNA vaccine products is contributing to an alarming rise in disability and excess deaths, reads the Hope Accord petition. This new technology was granted emergency use authorisation to address a situation that no longer exists. Going forward, the burden of proof falls on those still advocating for these products to compellingly demonstrate that they aren't .

Morocco produces Africa's 1st mpox tests as continent rely less on imports

After African countries struggled to get testing kits during the COVID-19 pandemic, officials vowed to make the continent less dependent on imported medical supplies. Now, in a first for Africa, a Moroccan company is filling orders for mpox tests as an outbreak continues. Moroccan startup Moldiag began developing mpox tests after the World Health Organisation declared the virus a global emergency in August. Africa's Centers for Disease Control and Prevention has reported more than 59,000 mpox cases and 1,164 deaths in 20 countries this year. The WHO has also announced a plan to provide mpox tests, vaccines and treatments to the most vulnerable people in the world's poorest countries, after facing criticism for moving too slowly on vaccines. It recommends all suspected mpox cases be tested. But in some far-flung areas of the mpox outbreak, tests have to be delivered to distant labs for processing. Most of Congo's 26 provinces don't have such facilities. And some areas have no tests.

CAG finds irregularities in payment to hospitals during Covid-19 in Odisha

The Comptroller and Auditor General of India (CAG) has found certain irregularities in funding to dedicated private Covid care hospitals (DCHs) set up in Odisha during the Covid-19 pandemic period. In a report tabled at the state assembly on Saturday, the CAG said the Odisha government in April 2020 had issued guidelines for operations of the DCHs, managed by private hospitals. The CAG examined the related records/ documents of 18 DCHs, located in the districts of Khurda and Cuttack. It was noticed that 51,967 Covid patients had been treated in these 18 DCHs in the first two waves of the Covid-19 pandemic, and Rs 724.50 crore had been incurred for the purpose. The audit observed irregularities in passing the bills for payment, without proper check/ verification of documents. Thus, payment of Rs 144.88 crore to the DCHs, without verification of basic documents/ records, was irregular, the CAG said in its report. Similarly, the auditor has also found irregularities worth Rs 2.73 cror

Study shows severe Covid infection may shrink cancer tumours in mice

The implications of this study extend beyond COVID and cancer. It shows how our immune system can be trained by one type of threat to become more effectiCancerve against another

Pralhad Joshi issues public apology for remarks on Justice Michael D'Cunha

The report alleged that the then BJP led government purchased Personal Protective Equipment (PPE) kits at inflated prices

Despite Covid crisis, India growing at 7-8%, says Dharmendra Pradhan

Though several developed economies suffered badly due to the Covid crisis, India continued to grow at 7 to 8 per cent during the last 10 years, Union Minister Dharmendra Pradhan said on Friday. In his keynote address at the Indian School of Business (ISB) here, Pradhan said India is set to surpass Japan and France and become the third largest economy in the world in the next three to four years. "Several developed economies in the world suffered badly due to the Covid crisis. Still, we are thriving with a 7 to 8 per cent growth rate since last decade and we will continue to do that," he said. The Minister of Education said India has a low corporate tax as Prime Minister Narendra Modi is very clear on not getting money to the exchequer by imposing more taxes, but more income in low slabs. He further said 46 per cent of the global digital payments are happening in India even as 25 crore people have been out of the poverty line.

Trump's economic agenda for 2nd term is clouding outlook for mortgage rates

Donald Trump's election win is clouding the outlook for mortgage rates even before he gets back to the White House. The president-elect campaigned on a promise to make home ownership more affordable by lowering mortgage rates through policies aimed at knocking out inflation. But his proposed economic agenda could potentially set the stage for mortgage rates to move higher, some economists and analysts say. Mortgage rates are influenced by several factors, including moves in the yield for US 10-year Treasury bonds, which lenders use as a guide to price home loans. Treasury yields rose in recent weeks even after the Federal Reserve cut its benchmark interest rate, which influences rates on all types of loans including mortgages. Investors appeared to question how far the Fed should cut rates given the strength of the economy. Then yields surged further immediately after Trump's victory, sending the average rate on a 30-year mortgage up to 6.79 per cent, according to mortgage buyer ...

Pralhad Joshi targets Justice Michael D'Cunha over Covid panel report

The John Michael D'Cunha Commission report has recommended prosecution of the then Chief Minister BS Yediyurappa

Karnataka CM Siddaramaiah slams BJP on 'Covid scam,' awaits D'Cunha report

He said the cabinet will take a decision on the matter after the Justice John Michael D'Cunha Commission, formed to probe the alleged corruption during Covid, submits its report

Report recommends Yediyurappa's prosecution in Covid scam: K'taka minister

Karnataka Health Minister Dinesh Gundu Rao on Saturday said Justice Michael D' Cunha Commission of Inquiry that investigated alleged irregularities in the purchase of equipment and medicines during the Covid-19 has recommended prosecution of then BJP Chief Minister B S Yediyurappa and former minister B Sriramulu. It is clear that there was a "loot" in the purchase of equipment and medicines during Covid-19, he said. The report proves the Congress' allegation that the "then government made money over the dead bodies, misusing the situation", the minister added. "...there had been lapses. No one could question them during the pandemic. Making use of that situation, government of the day looted and took decisions convenient for them, in violation of rules. As an opposition party then, we (Congress) tried to highlight the issue. After coming to power in the state we constituted a commission of enquiry headed by a former judge to probe and submit a report," Rao said. Speaking to reporte

US posts $1.8 trn annual deficit, highest outside of Covid: Treasury data

Treasury officials highlighted that the widening was largely due to accounting for the Biden administration's broad student debt relief plan

Poorest countries confront 18-yr high debt as conflicts & disasters surge

A World Bank report reveals that 26 of the poorest nations are facing their highest debt levels since 2006, struggling with post-pandemic recovery, conflict, and increased disaster risks

Stability or ambition? Here is what Indian corporate CEOs prioritise

Amid shifts in corporate leadership, Indian CEOs seem to be favouring consistency over rapid change

Kamala Harris seizes on claims that Trump sent Putin Covid testing devices

The vice president said people were scrambling to get these kits during the pandemic

Inflammation in vital brain region could be driving long Covid: Study

Symptoms of long Covid, including fatigue and brain fog, have been linked to damage to the brainstem or the brain region, which acts as a "critical junction" between consciousness and all that is physically happening in the body, according to a study. The brainstem connects the spinal cord to two main parts of the brain -- cerebrum and cerebellum. Often dubbed as the 'control centre' of involuntary functions, the brainstem regulates basic life-sustaining activities such as breathing, heart rate and sleep, and located at the base of the brain. Symptoms of long Covid have been studied to persist in some patients for up to two years following initial infection. The previous studies have found prolonged inflammation to be one of the main drivers of long Covid. In this study, the researchers from the Universities of Cambridge and Oxford, UK, looked at high resolution MRI brain scans of 30 patients, who had severe COVID-19 early in the pandemic, and found that the infection caused ...