Business

Chandigarh, Apr 19 (PTI) Sand and gravel mining and stone crushing have been permitted as part of the construction-related activities in Punjab from Monday, according to the state home department.

Also in view of the new academic session, shops dealing in distribution of books to school and college students have also been allowed to operate, as per an official release here.

Mumbai, Apr 19 (PTI) SpiceJet has decided to send employees earning more than Rs 50,000 per month on leave without pay on a rotational basis, sources said on Sunday amid flight services remaining suspended till May 3.

This arrangement would be in place for three months, they added.

JERUSALEM, Apr 19 (NNN-MA’AN) – Israeli Prime Minister, Benjamin Netanyahu, announced the doubling of activity at workplaces, as part of a plan to gradually restore the economy, amid the COVID-19 pandemic.

The rate of workers allowed to go to workplaces will increase from 15 to 30 percent. Those who go to work are subject to fever measurement at entrances, and asked to keep at least two metres away from one another.

In addition, public transport activity will be increased, mainly to allow more workers to get to work.

WASHINGTON (Reuters) - U.S. President Donald Trump warned China on Saturday that it should face consequences if it was “knowingly responsible” for the coronavirus pandemic, as he ratcheted up criticism of Beijing over its handling of the outbreak.

“It could have been stopped in China before it started and it wasn’t, and the whole world is suffering because of it,” Trump told a daily White House briefing.

Washington, Apr 18 (PTI) The world economy, already "sluggish" before the coronavirus outbreak, is now bound to suffer a "severe recession" in 2020, IMF chief Kristalina Georgieva has warned and said the current crisis posed "daunting challenges" for policymakers in many emerging markets and developing economies.

Addressing the Development Committee Meeting during the annual Spring Meeting of the International Monetary Fund (IMF) and the World Bank, the IMF Managing Director said a large global contraction in the first half of this year was inevitable.

New Delhi, Apr 17 (PTI) S&P Global Ratings on Friday slashed India growth forecast for the current fiscal to 1.8 per cent, from 3.5 per cent estimated earlier, on account of the lockdown to contain Covid-19 pandemic.

The US-based rating agency expects growth to significantly recover to 7.5 per cent in 2021-22 fiscal.

TEHRAN, Apr 18 (NNN-IRNA) – Iran and Qatar on Friday, agreed to increase energy cooperation despite the COVID-19 pandemic, Iranian state TV reported.

In a video conference, Iranian Energy Minister, Reza Ardakanian and Qatari Minister of Commerce and Industry, Ali bin Ahmed Al Kuwari, discussed joint investments in energy projects.

The meeting had originally been planned for early Apr, in Iran’s central city of Isfahan, but was delayed because of the COVID-19 epidemic.

Mumbai, Apr 17 (PTI) The Reserve Bank on Friday debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the Covid-driven economic shocks would continue longer and may put the health of the financial system at risk.

Mumbai, Apr 17 (PTI) The aviation industry may take between six months to two years to recover from the severe blow dealt by the coronavirus pandemic, according to a survey carried out by global consultancy ICF.

The survey, conducted among senior and mid-level executives from across the world between late March and early April, also revealed that there may be increased scrutiny placed on the health and sanitary conditions of individual countries that could impact air service and passenger demand.

New Delhi, Apr 17 (PTI) The RBI measures will revive credit flow by commercial banks and targeted long-term repo operation (LTRO) would further activate the corporate bond market and also provide much needed liquidity to NBFCs, Niti Aayog vice chairman Rajiv Kumar said on Friday.

The RBI on Friday further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points, as it unveiled a second set of measures to support the economy hit hard by coronavirus-led slowdown.