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Economy

Deserted streets in Mumbai following the lockdown imposed to curb spread of coronavirus | Photo: Vasant Prabhi | ThePrint

India’s GDP is headed for a rare quarterly contraction in April-June quarter

With two of the three-week shutdown falling in April, GDP growth in the quarter to June could contract about 5%, the first in at least two decades.

RBI is weighing opening a new credit line for mutual funds hit by crash crunch

RBI & finance ministry are in favour of proposal from industry regulator to open a cash window that fund houses can tap via their banks.
China is loosening the criteria for factories to resume operations as it walks a tightrope between containing the coronavirus and preventing a slump in the world's second-largest economy | Representational Image | Qilai Shen | Bloomberg

Chinese factories are beginning to buzz again while rest of the world comes to a halt

Employees are returning to work, production lines are starting to roll and even the original outbreak epicentre of Wuhan is ending its lockdown soon.
Employees test mobile phones on an assembly line in the mobile phone plant of Rising Stars Mobile India Pvt., a unit of Foxconn Technology Co., in Tamil Nadu | Karen Dias/Bloomberg

iPhone makers suspend production in India due to lockdown

Thousands of Apple's Indian employees are likely to be impacted by the 21-day nationwide lockdown, announced by PM Narendra Modi Tuesday night.
Oil Facilities And Services Ahead Of Final Year Figures After Demonetization Induced Fluctuation

World’s top infra manager is eyeing to buy India’s top PSU oil and gas pipeline assets

Macquarie Infrastructure & Real Assets believes govt will divest non-core oil and gas assets, like oil storage facilities, pipelines, transmission facilities.
The Bombay Stock Exchange

ICICI Pru Life, Aegon Life insurance keep the faith in Indian stocks amid market mayhem

The 2 life insurance firms are keeping money in stocks despite selling by foreign funds due to the coronavirus-led wave of risk aversion.
The logo of Reliance Jio, the mobile network of Reliance Industries Ltd., is displayed at a store in Mumbai, India. | Photographer: Dhiraj Singh | Bloomberg

Facebook held talks for 10% stake in Reliance Jio, says Financial Times

Facebook was close to signing preliminary deal for 10% of Jio before Covid-19 travel bans stalled negotiations, Financial Times reported.
People in masks outside the Shanghai railway station

How the coronavirus recession is like World War II

There is a lot of discussion about the Great Recession of 2008 but the coronavirus crisis has more in common with World War II.
Nirmala Sitharaman

Sitharaman promises economic package ‘soon’, but eases norms for businesses and taxpayers

Firms get relief on tax returns, company law compliance, and triggering of insolvency proceedings. Regulators are monitoring the markets and economy, assures the FM.
Representational image | Pexels

India’s gold sales set to be the lowest in 25 years

Demand in the world’s second-biggest gold consumer had already tumbled before the coronavirus outbreak, slammed by record high domestic prices.

On Camera

Representative Image

Why disease and xenophobia go hand in hand

The central human fallacy is to assume that if international travel helps spread disease, a perceived “foreign” group is most likely to be carriers.
Illustration: Soham Sen | ThePrint

Coronavirus racism against NE Indians: How can govt prevent Sino-phobia from hurting our own?

While US President Donald Trump is constantly calling coronavirus the ‘Chinese virus’, people from northeast India are being targeted, abused and attacked.

Defence

Indian Army Personnel (Representational image) | ANI Photo

Army may recall retd personnel with medical expertise if fight against Covid-19 intensifies 

The Army has made a composite list of all those who retired in the last two years, especially focussing on those with medical expertise and trained technicians. 

Modi’s India isn’t Mao’s China. Silly forecasts assume we’ll let corona kill millions of us

There are many scary scenarios about how badly we Indians may be affected or how many killed by Covid-19. But they presume we will do nothing to influence our fates.