Business

Mumbai, Apr 16 (PTI) Maharashtra Minister of State for Home Shambhuraje Desai on Thursday said the state government's `demand' of special trains for taking migrants back to their home states was valid.

Speaking to a Marathi news channel, Desai said that Shiv Sena leader and state tourism minister Aaditya Thackeray had been saying that migrant labours stranded in Maharashtra should have been allowed to return to their home states.

SINGAPORE, April 17 (NNN-AGENCIES) — Oil prices pushed higher Friday as President Donald Trump’s plan for a reopening of the virus-battered United States offset worries about a devastating supply shock triggered by the pandemic.

Brent crude, the international benchmark, was up nearly three percent in Asian trade at $28.65 a barrel while US benchmark WTI rose 0.6 percent to $19.99 a barrel — but still around its lowest level since 2002.

Oil markets tracked a rise in Asian stock markets and on Wall Street overnight.

Mumbai, Apr 16 (PTI) The Indian rupee tanked 36 paise to an all-time low of 76.80 against the US dollar in opening trade on Thursday, tracking weak domestic equities and sharp rise in coronavirus cases in the country.

Forex traders said the weakness in the rupee was largely due to strengthening of the US Dollar against the basket of currencies as investors fled to safe haven Greenback amid weakening risk appetite in the markets.

New Delhi, Apr 15 (PTI) India's exports plunged by a record 34.57 per cent in March due to a steep decline in shipments of leather, gems and jewellery and petroleum products, dragging the total exports in 2019-20 down to USD 314.31 billion, official data showed on Wednesday.

Merchandise exports in March stood at USD 21.41 billion, down by 34,57 per cent compared to USD 32.72 billion in the same month last year.

New Delhi, Apr 15 (PTI) A cargo flight carrying personal protective equipment (PPE) from Guangzhou city in China landed in Guwahati on Wednesday evening, officials said.

The PPEs have been procured from the neighbouring country for use by healthcare workers involved in the treatment of coronavirus-infected people.

Kolkata, Apr 16 (PTI) The 40-day country-wide lockdown may prevent the spread of coronavirus, but the measure would bring a "financial epidemic" on five crore families of hawkers and those who supply them with products, an official of the national hawkers' body said.

The lockdown was imposed by Prime Minister Narendra Modi on March 25 to break the chain of coronavirus transmission and it was scheduled to be lifted on April 15.

WASHINGTON, April 16 (NNN-AGENCIES) — President Donald Trump says the US has “passed the peak” of new COVID-19 cases and predicted some states would reopen this month.

At the daily White House virus briefing, Trump said new reopening guidelines would be announced on Thursday after he speaks to governors.

“We’ll be the comeback kids, all of us,” the president said. “We want to get our country back.”

PRETORIA, April 16 (NNN-AGENCIES) — The South African government has refused a request from the beleaguered national carrier for $500m worth of emergency funding.

South African Airways now faces liquidation, with the possible loss of 5,000 jobs.

The airline has not turned a profit since 2011 and has received more than $1bn worth of bailouts over the past three years.

It has suspended most domestic and international flights because of the coronavirus pandemic.

UNITED NATIONS, April 16 (NNN-AGENCIES) — A COVID-19 vaccine may be the only thing that can bring back “normalcy,” UN Secretary-General Antonio Guterres said, hoping for just that before the end of the year.

“A safe and effective vaccine may be the only tool that can return the world to a sense of ‘normalcy,’ saving millions of lives and countless trillions of dollars,” he added during a video conference with the 50 or so African countries that are members of the United Nations.

LISBON, April 16 (NNN-Xinhua) — Portuguese President Marcelo Rebelo de Sousa said that the country will see a transition from the restrictions imposed due to the COVID-19 pandemic to a return to economic and social activities in May.

The president made the remark after meeting with economists, entrepreneurs, specialists, politicians and union members.

“If April goes well, this will make May start to be progressively different,” he said.

“It is necessary to win in May,” he reiterated, saying that it will be a cautious return.